August 5, 2025 • 43 mins
Amy King hosts your Tuesday Wake Up Call. ABC News correspondent Jim Ryan joins the show to discuss the redistricting battle taking place in Texas. KFI correspondent Rory O’Neill speaks on tariffs and holiday decorations. Courtney Donohoe from Bloomberg joins the show to talk about the latest in business and what is affecting the markets today. The show closes with the host of ‘How to Money’ Joel Larsgaard talking about tax breaks on EV and Americans paying $1000 a month for their car.
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Speaker 1 (00:00):
You're listening to KFI AM six forty wake Up Call
with me Amy King on demand on the iHeartRadio app.
Speaker 2 (00:10):
KFI and KOST HD two Los Angeles, Orange County.
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OH.
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KFI Radio.
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This is Mission Control Houston. Please call station for a
voice check.
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Station.
Speaker 1 (00:37):
This is Amy King with kfi's wake up Call. How
do you hear me?
Speaker 4 (00:43):
I can hear you loud and clear, and it's time
for your morning wake up call.
Speaker 2 (00:51):
And its name is Amy King.
Speaker 5 (00:56):
Here's Amy King. This good morning.
Speaker 1 (01:06):
It's five o'clock straight up. This is your wake up
call for Tuesday, August fifth. I'm Amy King. We're live
everywhere on the iHeartRadio app. Happy You're getting your day
started with us. Here's what's ahead on wake up Call.
The fire burning in Santa Barbara and San Luis Obispo
Counties continues to throw up a huge plume of smoke
(01:26):
as it grows to more than seventy two thousand acres.
The fire that started Friday is just three percent surrounded.
A funeral service is being held in your Belinda today
for La County Sheriff's Detective William Osborne. He is one
of the three detectives killed when a grenade exploded at
a sheriff's training facility in East LA last month. Services
for the other two detectives will be held over the
(01:48):
next week. In response to Texas's efforts to redraw congressional
districts in favor of Republicans, California Democrats are apparently considering
a new political map that could win five more US
House seats for their party. The plan would need to
be approved by lawmakers and voters. After the state handed
redistricting power to an independent commission years ago, Texas Democrats
(02:11):
left the state to stop Republicans from redrawing those district maps.
I'm going to find out what's going to happen next
when ABC's Jim Ryan joins us. That's coming up in
just a couple of minutes. It's never too early to
start planning for the holidays, right, I mean, we're just
four months and twenty days away. So kfi's national correspondent
Rory O'Neill's going to join us. He says this year's
(02:32):
festivities could cost you a pretty penny thanks to tariffs.
That's coming up at five to twenty. Joel lars Guard's
back from vacation. He took like a month off must
be nice. Joel's going to tell us about how time
is running out to get an ev rebate if you've
gone electric. Also, we're spending a lot more on cars,
(02:55):
a lot more. Is that the wisest way to spend
your heart earned money? I have a few. I know
how Joel is going to react to that. And also
one of Joel's neighbors is turning one hundred years old.
Can you imagine? So we're going to take a look
back to what things looked like monetarily in nineteen twenty five.
(03:15):
Lots and lots coming up on wake up Call. Let's
get started with some of the stories coming out of
the KFI twenty four hour newsroom. Two fires are burning
out of control in Riverside County. The Gold Fire north
of Big Bear Lake has burned about three hundred and
fifty acres. The fire burning between Anza and Pinion Pines
has scorched twelve hundred acres. Night dropping helicopters have been
(03:36):
dropping water on the flames through the night. Evacuation orders
are in effect south of Alpine Village, and warnings remain
in effect near Pinion Pines. On both sides of the
seventy four. The seventy four highways been shut down. People
evacuated can head to the Anza Community Center. Animals can
be taken to the San Jacinto Animal Shelter or the
Coachella Valley Animal Campus Campus. The wildfire burning in Santa
(03:59):
Barbara and Say and Luis Obispo Counties has grown to
more than seventy two thousand acres.
Speaker 6 (04:03):
The fire has been burning since Friday afternoon in the
Los Padres National Forest northeast of Santa Maria. Evacuation orders
were expanded on Monday as the fire continues to grow.
Highway one sixty six is shut down between Highway one
oh one and the southern junction of Highway thirty three.
At least three people have been injured as a result
of the fire. Daniel Martindale CAFI News.
Speaker 1 (04:25):
Groups suing the Trump administration over immigration enforcement in southern
California have celebrated a win.
Speaker 7 (04:30):
The plaintiffs gathered together in downtown La days after a
federal appeals court upheld a temporary restraining order barring immigration
stops without probable cause. ACLU SoCal executive director Chandra bot
Nagar says the Trump administration is losing because it can't
justify most of its stops. If the government suggests quote
that they are not conducting stops that let lack reasonable suspicion,
(04:52):
they can hardly claim to be irreparably harmed by an injunction.
The plaintiffs, which include LA and other local governments, won
a longer injunction until trial can be held. Michael Monks
KFI News.
Speaker 1 (05:03):
President Trump's going to set up a task force this
week focused on planning for the twenty twenty eight Olympics
in LA. ABC's Alex Stone says Trump will be the
head of that task force.
Speaker 6 (05:13):
In a statement, the chair and president of LA twenty
eight said creating the task force marks an important step
in planning efforts to create the biggest and best Olympic
Games ever.
Speaker 1 (05:24):
Trump's expected to sign an executive order today to form
the task force. Let's say good morning now to ABC's
Jim Ryan. So, Jim, it's not the Alamo, but the
battle's on in Texas.
Speaker 8 (05:34):
It is, Yeah, the battle over redistricting between the census. Normally,
this is done every ten years after the census is completed.
The last time the district map was drawn up here
in Texas was twenty twenty one. And it was based
on the twenty twenty census. Well, here we are right
in the middle of the ten year census, and the
Texas Republicans, under the leadership of Governor Craig Abbott, at
(05:55):
the urging of President Trump, have drawn up the maps again.
They've created a map that favors five congressional districts for
the Republicans where Democrats currently are serving. Why does President
Trump want that, Well, that means five more Republicans in Congress,
potentially to give him some buffer. Right now, it's a
razor thin lead the GOP has in Congress.
Speaker 1 (06:17):
So it's not a given. They just are going to
make the districts more favorable.
Speaker 4 (06:22):
Right, you're right.
Speaker 8 (06:24):
You know this is all about math, essentially, about where
people live, how they voted previously. The Justice Department has
come in and said, look, the last map you adopted
was drawn up on racial lines. That's illegal. You can't
do that. You need to redraw the map. Well, it
was the same lawmakers who drew up the twenty twenty
one map were there drawing up this map, and they insist.
(06:46):
The Republicans say, now, it wasn't on racial lines, But
the Justice Department says it is, so the GOP says
its hands are tied.
Speaker 1 (06:54):
Okay, so interesting to note then too. I don't even
know if you've heard about this. But then in California
there's a Republican Congressman, Kevin Kylie, who wants to propose
a new law that would stop this from happening between censuses.
Speaker 8 (07:09):
Yes, and I know Gavin newsom Als who is proposing, Well,
if tax is going to do it, then California can
do it. Will carve out five Democrat friendly districts.
Speaker 1 (07:18):
Isn't every district in California Democrat friendly? And then I
don't think so, mostly.
Speaker 8 (07:23):
In the northern part. But yeah, so you know, this
could be a kind of a domino effective, state after
state saying you know, damn the census, let's go ahead
and redraw the map.
Speaker 1 (07:33):
Now, it's going to be so fun to watch. So
and then, in an effort to stop Republicans from changing
these maps, the Democrats have bugged out.
Speaker 8 (07:45):
Yes, they've decamped, as it were, and many of them
have gone to Illinois, some have gone to Michigan. I
know some have gone to California in order to deprive
it again. It's about the math. One hundred and fifty
member in the Texas House, they need two thirds super
majority in order to pass redistricting. That means that one
hundred must be present. So if fifty Democrats take off,
(08:09):
the Republicans don't have a quorum. They tried yesterday, no quorum.
They'll try again today. There won't be a qum. But
this is all really symbolic because at the end of
the day, this new map will eventually pass. It may
take two or three special sessions, but Governor Gabbott has
indicated a willingness to call that. So you know, in
the meantime we'll hear a lot of talk about this
(08:30):
and the Texas redistricting and how it could affect the
national scene in Congress right.
Speaker 1 (08:37):
And in the interim as this little fight goes on too.
Didn't Governor Abbott call for the lawmakers to be arrested?
Speaker 8 (08:45):
He did, And the State House Speaker is going to
issue civil arrest warrants. It's not a criminal thing, it's
just a civil arrest warrant, but that and so Texas
State troopers will be sent to find these lawmakers and
haul them back, drag them back to the to the
State House. But these warrants and the Texas State troopers
have jurisdiction nowhere beyond Texas, so again it's symbolity.
Speaker 1 (09:09):
Yeah. Well, and then I was looking into this because
I think I'm not sure. Was it Texas that tried
this one time before?
Speaker 4 (09:16):
Well?
Speaker 8 (09:16):
Yes, in twenty twenty one, the Democrats broke worum over
some new voting restrictions. But in two thousand and three,
this redistricting issue came up at that time and Democrats
went up to Ardmore, Oklahoma, enough of them to break
the korum in Austin. I went up there and covered
them in two thousand and three when this was happening.
One of the lawmakers then lawmakers, Jim Dunham, who was
(09:39):
in the House then and went up to Ardmore, Oklahoma.
He says he keeps his arrest warrant framed and on
the wall of his office as a symbol of pride
about this quorum break.
Speaker 1 (09:51):
Okay, you know the other interesting one because I'm from
Oregon and the Oregon Republicans did this in twenty nineteen
and some of them lost their careers because of it.
Speaker 8 (10:03):
Sure, and that could happen here. I mean, and the
governor is talking about stripping people of their office if
they don't come back and you know, do the business
of the legislature. So there are consequences. These who have
fled the state now are looking at five hundred dollars
a day fines and this threat, although you know, impotent
threat of arrest.
Speaker 1 (10:24):
Okay, well, we'll see and see how long it takes.
But like you said, it's pretty inevitable. Sure the Republicans
have control, They're going to do it.
Speaker 8 (10:31):
Yes, I mean, in the meantime, the Democrats want to
tell the rest of the country that this is what's
happening in Texas. Here's how it could affect you.
Speaker 1 (10:39):
All Right, thank you, ABC's Jim Ryan, appreciate it as always.
Speaker 8 (10:42):
Thanks Shamy.
Speaker 1 (10:43):
All right, we'll talk to you soon. Let's get back
to some of the stories coming out of the KFI
twenty four hour news room. A plan to take full
control of the Gaza Strip appears to be taking shape.
Local media is reporting that Prime Minister Benjamin Netanyahu's office
says the decision has been made and that Hamas will
not least the remaining hostages taken in twenty twenty three
unless the area comes under full Israeli occupation. The country's
(11:07):
security Cabinet is set to meet today to talk about
next steps for the war. The UN's nuclear watchdog is
set to visit Iran ABC's and as Delicate Terra says
it provides answers or could provide answers as to the
state of Iran's nuclear capabilities.
Speaker 9 (11:22):
After recent strikes from the US and Israel. The Iranian
parliament had barred the IAEA from inspecting the country's nuclear sites,
and it's still unclear whether the return of IAEA representatives
means those inspections will resume.
Speaker 1 (11:36):
President Trump claimed Iran's nuclear facilities were completely obliterated by
US strikes. Millions of people across the US are under
air quality alerts. Meteorologist ginger Z says the alerts extend
from the Great Lakes to the northeast. The air quality
rating in the Detroit area among the worst in the world. Today,
the culprit smoke from more than seven hundred wildfires in Canada.
(12:00):
She says that smoke is not forecast to blow out
anytime soon. The Southeast is bracing for flooding as a
tropical downpour bears down on the region. Flooding in Alabama
killed one person on Sunday, forecasters say the rain in Florida, Alabama,
and Georgia could stretch all the way into the weekend.
The State Department has proposed applicants for business and tourists
(12:20):
visas post a bond to apply to enter the US.
Speaker 10 (12:24):
This may make the process unaffordable for many. In a
notice to be published in the Federal Register today, the
Department says it will start a twelve month pilot program
requiring those from countries deemed to have high overstay rates
and deficient internal document security controls to post bonds of five,
ten thousand, or fifteen thousand dollars when they apply for
(12:44):
a visa. It says the country's affected will be listed
once the program takes effect. Deborah Mark Kafi News.
Speaker 1 (12:52):
Good way to kill tourism just a thought. Florida deputy
has wrangled an alligator in a swimming pool. Bodycam footage
shared by Saint John's County Sheriff's Office shows Deputy Richardson
first trying to capture an alligator in a swimming pool
with a net. Well that didn't work, so he just
reached down and used his hands to pull the gator
(13:13):
out of the water. The alligator, who was described as
super Mad was safely relocated to a nearby pond that
takes guts. No, thank you. Guess what it's Hello Kitty
crossbody Bag. If you're heading to Dodger Stadium tonight, No what,
They're very popular.
Speaker 3 (13:33):
Hello Kitty.
Speaker 1 (13:34):
The Dodgers take on the Cardinals at Dodger Stadium tonight.
First pitch goes out at seven o'clock. You can listen
to all the Dodger games on AM five to seventy
LA Sports Live from the Gallpin Motors Broadcast Booth, and
stream all Dodgers games in HD on the iHeartRadio app
Keyword AM five to seventy LA Sports. Sean Combs has
been denied bail once again. A judge turned down his
(13:55):
request to post fifty million dollars bail yesterday, saying the
entertainment mogul failed to satisfy his burden to demonstrate in
an entitlement to release Colmbs was convicted of two counts
of interstate prostitution. He is set to be sentenced October third.
Long Beach health officials have sounded the alarm over a
(14:15):
rise in the number of cases of typhus. Twenty cases
have been reported this year as the end at the
end of July. That's how many are typically reported in
a whole year. Residents being urged to take precautions against
the flea born illness. The New York Post is launching
a California Post. Owners of the tabloid newspapers say LA
(14:35):
and California surely need a daily dose of the Post
as an antidote to what it calls the jaundiced, jaded
journalism that has sadly proliferated. California Post content will appear
online and in print at six oh five. It's handle
on the news. It's not exactly the Alamo, but the
(14:55):
battle lines have been drawn in Texas and those battle
lines could extend to California over redistricting. I'll say good
morning now to kfi's national correspondent Rory own Neil.
Speaker 3 (15:09):
Morning, Rory, Hey there, Amy, good morning.
Speaker 1 (15:12):
Okay. So it's four months and twenty days until Christmas,
so it can't possibly be too early to start thinking
about Christmas. But Christmas this year could cost you. What's up?
Speaker 3 (15:28):
Yeah, it really could in large part because of these tariffs,
and the calendar really is the bigger problem here. We
started this Liberation Day in tariff talk around the same time,
a lot of stores place their orders with Chinese companies
that make all those lights that we use to decorate
our homes and trim the tree. So we could see
a lot fewer items on store shelves because for a
(15:51):
time there, remember the tariff on those imported goods was
around one hundred and forty five percent, So that means
a lot of stores limited what they were buying to
import and what ends up on the shelf may cost
you a little bit more.
Speaker 1 (16:04):
Okay, so is as more deals are agreed to, the
tarffs might go away. But that's not going to affect
because you said, like they've already had to order.
Speaker 3 (16:15):
Everything exactly because this was all happening in April and May.
That's right in the heart of the time frame. Well,
i'd say scrooged considering the holiday. Yeah, so that really
could hurt. And what we might see is you'll still
have ten different items on the store shelves, but there
may only be five in the back room for inventory,
(16:38):
not twenty five like they used to have. Because in
many cases it's smaller stores that are buying these items
to bring in a lot of other you know, we've
talked about toys a lot, but a lot of those
big companies like Hasbro, they can go and place orders
with other countries and it may be easier for them
to work around, but especially for smaller stores, they try
to order that inventory. A lot of them are low.
(17:00):
Just one three different companies in China to buy what
ends up trimming our tree.
Speaker 1 (17:05):
Okay, So since they had to pay more, they probably
ordered fewer, which means fewer cool decorations might be available,
and that might create a run on Christmas decorations.
Speaker 3 (17:20):
I think toilet paper, right, And what happened during the
pandemic is look and look, most of us are not
buying from tree top to tree skirt all new stuff
every year. Right, Maybe we'll buy a couple of new
strings of lights here and there and that kind of thing.
It's incremental and it is the definition of the discretionary purchase,
(17:41):
you know. I mean, I think we're all going to
be more concerned about what the Hamburger price is as
to whether or not Christmas lights cost a dollar more
this year, right in perspective, But it is something you're
going to notice, especially in some of those big box
retailers where we've seen a lot of cutbacks in their orders.
And that's according to the folks over at the National
Christmas Tree. Yep, there is such a thing Annison Sacramento.
Speaker 1 (18:04):
Who knew the National Christmas Tree Councils and Sacramento.
Speaker 3 (18:08):
Right, because I think Christmas, I'm okay.
Speaker 1 (18:12):
Is anything made in the US or pretty much everything's
coming from overseas, for like.
Speaker 3 (18:18):
If you have a real tree. If you have a
real tree, that's probably coming from North Carolina. And maybe
there's a version Sacramento apparently on the East coast. So
we think the Carolinas, and you guys on the West coast,
I'm sure think Big Oregon as the home of the
Christmas tree. So yeah, so that would certainly help. But yeah,
(18:40):
maybe we just change our priorities as to what we
buy and you know, maybe buy more fresh domestic product
rather than the code the junk that only lasts one
season anyway, So.
Speaker 1 (18:51):
Instead of getting the fake garland, maybe get the real stuff.
Speaker 3 (18:55):
Right and support an Oregonian.
Speaker 1 (18:57):
Yeah, of course that that creates a whole other problem
because then you have them drying out, you have fire
danger and all that stuff.
Speaker 3 (19:03):
But once you get the smell, that's what you've been
right to get the smell. Okay, that's the deal breaker.
Speaker 1 (19:08):
So that's interesting. Yeah, that they already had to order everything.
I didn't even think of that. I was thinking maybe
they would be thinking about cutting back on their orders.
But those are it's done deals. So look for higher
prices for Christmas decorations.
Speaker 3 (19:21):
And this is part of the first time we're going
to see you now Halloween. They have gotten in under
the gun. That really is impact on Christmas more than
other holidays.
Speaker 1 (19:28):
All Right. Kfi's national correspondent Rory O'Neil, thanks for the info.
Speaker 3 (19:33):
Thanks Amy all Right.
Speaker 1 (19:35):
Officials at some animal care centers in La County say
they've been taking care of extra dogs and cats that
have come from homes where people have been detained on
immigration raids. Since the ice raids started in June, the
county has taken in twenty two dogs and six cats.
Eleven of those dogs and two of the cats have
since been placed with new homes. Two people have been
(19:55):
killed in a wrong way crash and Santa Anna. Five
others were taken to the hospital. Police the driver who
caused the crash yesterday on Main Street was speeding and
hit three other cars head on the people killed were
in separate cars. California Republican Congressman Kevi and Kylie is
planning to propose a law that would prevent mid decade
(20:16):
changes to congressional voting districts. His proposal would also invalidate
any new maps approved before the twenty thirty cent census.
Governor Newsom says redistricting in California depends on Texas's next
move and their efforts to change their district maps.
Speaker 11 (20:32):
I'm appreciative that this member of Congress is waking up
to the the reality is what has occurred in Texas.
I haven't heard much from him as it relates to
the condemnation of their efforts.
Speaker 1 (20:44):
Newsom says if new district maps are drawn in California now,
they would be in place until twenty thirty. The state
would then switch back to its current independence system for redistricting.
Conservative activists in California want to try again to recall
Governor Newsom. Despite previous failed attempts. Last year, the group
Rescue California couldn't get the needed one point three million
(21:06):
signatures to get a recall on the ballot. In twenty
twenty one, a recall election resulted in sixty two percent
of voters choosing to keep Newsom in office. Activists would
have to collect one million valid signatures in a month
for another recall Newsom terms out next year. Three I
Atlas is not an alien spacecraft that's bigger at than
(21:27):
Mount Everest.
Speaker 12 (21:28):
Unless you believe a professor at Harvard Avi Lobe is
a theoretical physicist and cosmologist who says the interstellar object
discovered just last month is too big and too fast
to be natural and could be controlled by technology. Three
I Atlas is expected to pass right by Mars in
early October and the Sun by the end of October
before making its way out of the Solar System. It's
not expected to get close enough to Worth to be
(21:50):
a problem. Researchers a the seven mile wide interstellar object
is a mile and a half bigger than Mount Everest
and is most likely a natural comet, not an alien probe.
Michael Krozers.
Speaker 1 (22:02):
Bookie Nothing like a bad marriage to scare off the
wild beasts. Wall Street Journal says the Department of Agriculture
is using a recording of Get This Scarlett Johansson and
Adam Driver screaming at each other in marriage story they're
using it to frighten wolves away from cattle. In the
American West, the USDA is reportedly using drones of speakers
(22:25):
to blast the scene, as well as acdc's Thunderstruck, also
using fireworks and gunshots. A USDA district supervisor in Oregon
says the audio is being used to get wolves to
respond and know that humans are bad. I couldn't sit
through that movie, so yeah, it would scare me away.
(22:46):
The LAPD is asking for your help to find three
drivers who hit a sixty one year old man crossing
the street near Baldwin Hills. Police say the man was
crossing Librea Avenue Monday night when he was hit by
a car headed north. He was then hit by two
more cars. The man died on the way to the hospital.
None of the drivers stopped. Don't be surprised if your
(23:06):
property tax bill goes up. The assessed valuation of property
in La Counties jump nearly four percent over last year.
The county has seen valuation go up for the past
fifteen years in a row. Properties in La County combined
now top two point one trillion dollars. Shares of American
Eagle have soared up twenty percent. Following President Trump's comments
(23:29):
yesterday about its marketing campaign that features Sydney Sweeney on
True's social Trump called her the hottest her ad, the
hottest ad out there. Sweeney's ad with American Eagle has
sparked public pushback over its slogan Sydney Sweeney has great genes.
Some are saying it promotes eugenics. I don't get that.
(23:50):
Let's get back to some of the stories coming out
of the KFI twenty four hour newsroom. Funeral services are
being held today for the first of three La County
Sheriff's Department detectives killed when a grenade that was thought
to be inert exploded at a Sheriff's facility in East LA.
Detective William Osborne will be remembered during a service at
Friends Church in Your Belinda. The Bureau of Alcohol, Tobacco,
(24:13):
Firearms and Explosives says it believes the explosion last month
involved one of two grenades found at an apartment complex
in Santa Monica the day before. A guy who says
he was assaulted by a group of teenagers and Seemi
Valley claims the attack was a hate crime.
Speaker 2 (24:28):
There were this yelling, I mean this racial slurs.
Speaker 1 (24:30):
It was fair for my life, honestly, because I was
only getting hit in the back of the head, and
look he I didn't know if I was going to
pick it out of it. Eighteen year old Michael Robinson,
who's black, says he was chased and beaten Friday night
while hanging out with some friends outside a movie theater.
He says he and his friends were approached by seven
to eight people and one of his friends was punched
in the face after an argument. Then Robinson says the
(24:53):
group turned its focus on him. Four teenagers have been arrested.
One is the son of a Seemi Valley Police employee.
The Board of Supervisors is going to consider a proposed
ordinance to require all rental housing units in unincorporated parts
of La County to have maximum indoor temperatures of eighty
two degrees. That ordinance would also require landlords to allow
(25:15):
tenants to install portable cooling devices like air conditioning units
or fans, or other non mechanical cooling methods as they
put it, like blackout curtains to control the temperature in
their units. Menefee Mayor Ricky Estrada has been called up
to serve overseas.
Speaker 13 (25:32):
Estrata, a reservist in the US Air Force, is going
to be deployed for six months starting in October. Mayor
pro Tam Bob Carwin will serve as acting mayor until
Estrata returns. Estrada says he will stand communication with city
leaders and stay updated on local activities during his deployment.
Mark Mayfield, Kofi News.
Speaker 1 (25:51):
New Research ranks LA is one of the most walkable
cities in the US. Really The luxury vacation home rental
service Wander analyzed excess ability factors including wheelchair friendly attractions, walkability,
public transportation, and internet connectivity. LA comes in at number ten.
It has a score of sixty nine out of one hundred. Nashville, Tennessee,
(26:13):
and Washington, DC are the best cities in the US
to take a stroll. New ice cream flavor is about
to hit stores. It's a flavor you haven't had since
you were just a little baby. Freda and Oddfellow's Breast
Milk ice Cream is now available in limited release nationwide.
(26:34):
It's available through Freda's website while supplies last. It's described
as sweet, a little salty, smooth, with hints of honey,
and sprinkles of colostrum and features a distinct colostrum yellow tinge. No,
it is not made from real breast milk. I think
(26:55):
that's going to be perfect for guys with mommy issues.
Time to get in your business now with Bloomberg's Courtney
Donahoe Morning Card.
Speaker 5 (27:02):
I don't know if I could get over the last time.
Speaker 1 (27:05):
I know, but I think it's going to be a
little bit expensive and you might have to put it
on your credit card.
Speaker 14 (27:12):
Oh yes, because banks are playing card to get folks
who want a credit card. In this report of sponsored
by Fidelity, Good Morning, by the way, the Fitter Reserve
has found that more financial firms have recently raised the
requirements for lower end customers who want to get their
hands on a credit card.
Speaker 5 (27:27):
According to the Wall Street Journal.
Speaker 14 (27:29):
Banks are becoming a lot more cautious with lower end
shoppers because they're struggling to keep up when they look
at the card balances that's been on the rise for
those on a limited budget.
Speaker 1 (27:40):
So you have to have a better credit score to
get a credit card.
Speaker 14 (27:44):
Yeah, no doubt about it, because the banks are looking
toward those heavy spenders and targeting people with higher credit scores.
Speaker 5 (27:51):
For example, JP Morgan and City.
Speaker 14 (27:53):
They've rolled out premium credit cards in recent weeks, and
Amex is also updating its popular platinum card leader this year.
Speaker 1 (28:00):
Yeah, if you can afford the five hundred bucks a
year for.
Speaker 14 (28:02):
It, Oh exactly, that's why they're targeting those folksy.
Speaker 1 (28:06):
Okay, we've got a tween accessories chain that may not
make it.
Speaker 14 (28:13):
Yeah, Claire stores of filing, Yeah, for chapter eleven. They
could end up when you file for chapter eleven, you
could end up keeping your operations.
Speaker 5 (28:22):
It all depends.
Speaker 14 (28:24):
But they are inch and closer to filing for chapter eleven,
and sources say it could happen as soon as this week.
They have been struggling with weak demand from shoppers and
a very heavy debt load, and they are said to
have missed a couple of rent payments for June and
July on some of its stores.
Speaker 1 (28:40):
Okay, beef isn't just what's for dinner, it's what's breaking
the bank. Huh.
Speaker 14 (28:45):
Yes, and you see it in the grocery store when
you go there. Beef prices are at record highs after
years of drought. Pastors haven't been producing enough grass to
feed the cattle, so the ranchers have been cutting back
their herds even as Americans continue.
Speaker 5 (28:59):
To eat more beef.
Speaker 14 (29:00):
Average ground beef prices at the supermarkets past six dollars
a pound in June. Steaks eleven fifty pounds. That's a
high level in a decade.
Speaker 1 (29:08):
That's a lot. But you know what a good steak.
I wonder what that's doing. Then a courtney to prices
in restaurants. I wonder if we're getting those like you
know at Morton's where steak's costing you seventy or eighty bucks. Anyway,
I wonder how much that's going to go up.
Speaker 14 (29:25):
And some of them are passing that price along. They
have to do it in order to be able to
keep their margins, and especially if you look at the
restaurant industry margins, they are always pretty tight.
Speaker 1 (29:34):
Yeah, okay, let's talk a little bit on the other
end of the skip spectrum a little bit, you know,
lower cost fast food and beer.
Speaker 14 (29:43):
Yes, actually, let's talk a little liquor, beer and fast food.
Speaker 5 (29:47):
I guess this is going to be my vice report
for you.
Speaker 14 (29:51):
Most and Cores they lowered their financial outlook for the
the company, blaming week sales in the US. They've been
trying to counter.
Speaker 5 (29:58):
Or shift away from beer.
Speaker 14 (30:00):
On the other hand, the company behind Johnny Walker, they
say they're seeing strong demand from younger customers. Diaggio says
gen Z still spending, still going out. However, sales a
Taco Bell weaker than expected. That's sending shares of the
parent company young brands lower. For a number of quarters,
Taco Bell was definitely the power behind that brand because
they offered so many different buzzy things and low prices
(30:23):
which brought people in the door.
Speaker 1 (30:25):
And it is Taco Tuesday. I love me some good
Taco Bell.
Speaker 5 (30:28):
Yes. And they also, by the way, own Pizza Hut.
Speaker 14 (30:30):
And this was the seventh straight quarter of sales declines
and KFC also saw decline in sales in the US.
Speaker 1 (30:37):
Interesting like all three of them, huh, all three across
the board. And before I forget, I want to quickly
mention this because anytime I mentioned some a company possibly
filing for bankruptcy, we have to talk to the company,
and we reached out to Claire's for comment and there
was no response from them. So I want to make
sure that that is clear, okay, And then this could
(30:58):
be a bell weather for the whole glow economy caterpillars
having some issues.
Speaker 5 (31:03):
Yeah, well, they're seeing a drop in trading. This morning.
Speaker 14 (31:07):
The heavy equipment maker posted slightly lower sales for its
iconic yellow diggers and the bulldozers from a year ago.
But the company is very important to Wall Street because
they are a big bell weather on the health of
the economy because they work with so many industries construction
to energy, to farming. You could see it all across
the United States, all across the world. So that's why
(31:28):
when we see slightly lower sales, Wall Street gets a
little bit worried.
Speaker 1 (31:32):
Okay, and then speaking of Wall Street, I just wanted
to touch before we let you go. Huge gains yesterday
after huge losses on Friday, well, yes.
Speaker 14 (31:41):
Being more gains again this morning because second day of
gains in a row, because we had Friday's week jobs report,
and traders are increasingly betting that the Federal Reserve is
going to step in, that they're going to cut interest
rates next month.
Speaker 5 (31:53):
After that rough, rough ugliness that.
Speaker 1 (31:55):
We saw on Friday, bad news led to some good
news this morning.
Speaker 5 (32:01):
We're seeing S and P futures up two tens seven percent.
Speaker 1 (32:03):
All right, getting in your business like we do every
morning at five forty with Bloomberg's Courtney Donaho. Thanks Courtney,
see you later, all right, Touch you tomorrow. California Republican
representative is planning to introduce legislation that would prohibit mid
decade redistricting like what's being done in Texas, and it
would ban it nationwide. Kylie says the California Supreme Court
(32:24):
has held for decades that the state constitution forbids the practice.
California Democrats are looking at redrawing maps in California to
gain five seats for the Democrats in response to what
Texas is doing. A brush fire that erupted in the
San Bernardino National Forest between Anza and Pinion Pines quickly
grew to twelve hundred acres. Highway seventy four remains closed
(32:44):
because of the fire and evacuation orders or in place.
Evacuation orders were issued for Alpine Village. Warnings were issued
in and around Pinion Pines around Highway seventy four. CalFire
air tankers and water dropping helicopters initially slowed the fire yesterday,
but then those whims wins whipped it up again. There
were no tickets sold with all six numbers to last
(33:07):
night's Powerball drawing. That pushes the jackpot up for the
next drawing, which is Wednesday, to about four hundred and
forty nine million dollars. We're just minutes away from handle
on the news this morning. Well, the Democrats bugged out
and headed to Illinois from Texas. Going to tell you
(33:27):
what's next for them, and it might include orange jumpsuits. Ah,
let's say good morning too. The host of How to
Money on KFI, fresh off a very long vacation, Joel Larsgard.
Speaker 3 (33:41):
Morning, Good morning, Amy, welcome back.
Speaker 1 (33:45):
Where'd you go?
Speaker 4 (33:47):
Oh? Glad to be back. It was in Seattle for
a cousin's wedding, and then we went to Hawaii for
a little bit and had the best time Hawaii for.
Speaker 1 (33:57):
A little bit and had the best time. Did you
swin with Alfin?
Speaker 4 (34:01):
No, we did do some surfing and saw a live
lava flow at Volcanos National Park that that was pretty epic.
Speaker 1 (34:08):
Nice. Okay, Well let's get let's get down to the
money business time running out to get the tax break
on your electric vehicle.
Speaker 3 (34:19):
Yeah.
Speaker 4 (34:19):
So this this is one of those things where similar
to the retrofitting your house and doing energy efficient upgrades.
The law was you know, when it was written, it
was supposed to be around for many years to come,
and it was like, oh, great, I can buy my
electric vehicle this year, or I can wait a few
years and I can still get that sweet tax credit
that's seventy five hundred dollars discount on upgrading to an EV. Well,
(34:42):
the Trump administration and the Big Beautiful Bill has essentially
truncated the timeline significantly on both of those things. And
so if you're like I was thinking about getting E
the and the M I hold off till I don't
know twenty twenty six, twenty twenty seven, Well, the numbers
are going to get much worse on buying electric vehicles
to payoff. Timeline is going to increase significantly because this
(35:06):
federal tax credit is going away. So I think it's
certainly going to lessen the interest of buyers in electric
vehicles because that was a huge part as they're an
expensive upgrade and the seventy five hundred dollars tax credit
was a big part of what made it financially feasible
for people to upgrade. But now that tax credit ends
the end of next month. So if you're in the
(35:26):
market if you're thinking about it, like time is of
the essence to buy that electric vehicle, or you're going
to completely miss out on that substantial discount, Okay, And
then it's.
Speaker 1 (35:35):
A tax credit, so then if you do it by
next month, then you claim it on next year's taxes.
Speaker 4 (35:41):
Well and right now, like typically that's included in the
sale price, like the dealership will factor that in, and
another great way to proceed in getting an electric vehicle
right now. Typically I'm against leasing, Like leasing doesn't make
much sense. It's a lifestyle move, it's a really expensive
lifestyle move. You've got to cash to lease a car,
(36:01):
go for it. But leasing an electric vehicle before September
thirtieth could make sense because there's some pretty sweet discounts
on some electric vehicle model. Subaru has kind of an
unloved electric vehicle that's decently inexpensive when you opt for
a lease Kia. They're EB six. It's pretty inexpensive when
you opt for a lease, and part of the reason
(36:22):
you're getting a better discount of the lease is because
the federal tax credit. So my guess is that the
lease prices on those electric vehicle models are going to
increase come October, but right now they can still be
had for a reasonable price. If you're like, I'm not
sure I want an electric vehicle. I don't want to
drop fifty grand to upgrade to a Tesla Model Y
or something like that, but I do want to kick
(36:43):
the tires. Leasing an electric vehicle is and again, normally
something I don't mention or I don't talk about as
being a good thing, but it could be a good
thing right now in this case.
Speaker 1 (36:52):
Okay, And then, since since you don't like to talk
about leasing, let's talk about buying cars. And people are
spending a lot on cars.
Speaker 4 (37:01):
I guess they don't want people to leave or buy.
I just want people to be content with what they've
got and continue to put money into it. I guess
if they need to, because yeah, there was new information
from Edmundson. Just every year this gets worse.
Speaker 3 (37:13):
So every year I.
Speaker 4 (37:14):
Pulled my hair out just a little bit more, and
I'm probably gonna prematurely bald because of just how much
people are spending on cars. And I really do think
any that this, for some reason is this quintessential part
of the budget that if people paid more attention to it,
they would feel like they had more financial flexibility and
they would be able to reach greater stages of financial
independence a whole lot earlier. But if you just buy
(37:36):
into the stock belief that buying a new car one
thousand dollars car payments aren't that big of a deal,
it's going to delay your timeline significantly. So, no matter
whether you're getting an electric vehicle or an internal combustion
engine vehicle, one thousand dollars monthly car payments, they used
to be this, like what who would do that? And
now it's kind of part for the course. More than
(37:57):
one in five car buyers is signing up for a
thousand dollars monthly car payment, and it's not because they're
opting for a twenty four month loan or a thirty
six month loan in order to pay it off more quickly.
Often these loans are for six years, seven years, and
so signing up for that car payment for that many
years in perpetuity, that's the kind of thing that blows
(38:20):
your budget and it really runs you the risk of
being underwater for a significant period of time in that car.
So yeah, I'm kind of against car payments in general.
A thousand dollars car payments, like, yeah, that's one of
the worst things in the world.
Speaker 1 (38:36):
So I was just doing the quick math because I'm
really good at math. That's like, that's like almost one
hundred thousand dollars by the time you're done with it.
I mean, So, I mean, is everybody just going out
and buying all these huge cars that they can't afford?
Speaker 4 (38:49):
I mean, I think that's a big part of it.
And when you stretch out, the cars have gotten more expensive,
interest rates have gone up, and cars have gotten bigger
and fancier, and so we're not comparing apples to apples
from cars twenty years ago. Think about how nice some
of these new cars are and people are like, oh,
the Jeep, Grand Wagoneer or something like that. Or think
about how commonplace trucks have become, even though not everybody
(39:13):
needs a truck for business purposes. But oh, I like
my big truck, and I have no problem with you're
driving a big truck, but maybe consider one that's fifteen
years old. Is it going to cost you a thousand
dollars a month if that's the kind of car you
want to drive, But going out there and making that
upgrade to either a fancy or a just much bigger car,
and signing yourself up for that sort of car payment
(39:34):
for years to come. That just comes at the cost
of you having financial flexibility most of the time for
most people. Yeah, if you're signing up for those kinds
of car payments, I mean, you can't actually afford the car.
And my belief is that if you can't pay that
car off in thirty six months or less, you really
can't afford the car. You need to opt for a
cheaper car, an older car, like you need to figure
(39:55):
something else out, because it's just going to jack up
your finances too much. I don't think it's I don't
think it's justifiable.
Speaker 1 (40:02):
Okay, now I want to before we let you go,
I want to jump back into the way wayback machine.
I think this is always fun. So tell us about
your neighbor who just celebrated her one hundred birthday and
what you found, what they had at the party.
Speaker 4 (40:15):
Okay, So my neighbor, Miss Betty, just turned one hundred.
She literally my next door neighbor. She's wonderful. Her genes
are incredible because her sister is one hundred and four,
which is impressive, and so actually at her birthday, there
was like this they her family had mocked up this
old newspaper article and they talked about the cost of
living one hundred years ago, and they said, oh, hey,
(40:37):
the new the price of a new house was six grand.
The price of a new car, not forty five grand
like we're talking about now, was three hundred and ninety dollars,
and the average income per year was one thy four
hundred dollars. So when you go back one hundred years
to when miss Betty was born, we're talking about a
significant difference in everything, in prices, in income. And you
(40:59):
might like hear that stuff and say, oh my gosh,
like we're living in such an expensive era. What a simpler,
easier time, And yes, it probably was simpler. But if
you also look at the value of the return on
your money on the dollar that you would have invested
in the S and P five hundred, one hundred years ago,
if you had put one hundred bucks into it, you
(41:21):
would be talking about having millions of dollars in your
investment account, millions from a one hundred dollars investment. So
that's just the kind of thing I want to put
in perspective. People. You look back and you say, man, inflation,
it's crushing. Well, how do you outpace inflation? It's through investing.
And it's amazing how even just a small investment, right,
that was you know, just a little bit one hundred bucks,
(41:44):
which I guess at that period of time one hundred
bucks was a lot, but that would have massively earned
you a lot more than the price of cost increases
over time.
Speaker 3 (41:53):
Yeah.
Speaker 1 (41:54):
Well, and if you again here I am doing the math,
and I'm not sure that it's all right, but like
you said that a car costs three hundred and ninety
dollars and yearly income was one fourteen hundred correct, Okay,
So like if you do that math, where now people
are buying one hundred thousand dollars car and making less
than one hundred thousand, I mean, like if the math
(42:16):
just doesn't add up for now.
Speaker 3 (42:19):
Yeah.
Speaker 4 (42:19):
Yeah, And that's partly again because things keep getting fancier.
If we were content with the econo boxes of twenty
five years ago, you know, my first car, just this
old school camera. Think about how a camera has changed
over the past twenty five years. Like, they're much fancier now,
they're much bigger now, and so part of that is,
it's some of it's good and then some of it
(42:42):
just means everything's going to cost more and we have
to That's why I was glad to hear something like
Slate Auto Launch, because they're like, we're going to create
a no frills electric vehicle that costs twenty five grand.
And I think it's not that it's not that some
better options don't exist, or cheaper options don't exist. It's
just that our eyes are trying to the fancy stuff.
Speaker 1 (42:59):
Okay, more great advice and tips from our friend Joel
Lawyersguard who's back from vacation, which means you can hear
him this Sunday noon to two on how to Money
on KFI. Follow him at how to Money Joel. Thanks Joel,
we'll talk to you next week. Welcome back, so good.
Speaker 4 (43:18):
Thanks Amy.
Speaker 1 (43:18):
All right, this is KFI and kost HD two Los Angeles,
Orange County, live from the KFI twenty four hour newsroom.
I'm Amy King. This has been your wake up call.
If you missed any wake up call, you can listen anytime.
It's on the iHeartRadio app. You've been listening to wake
Up Call with me, Amy King, you can always hear
wake up call five to six am Monday through Friday
(43:39):
on KFI Am six forty and anytime on demand on
the iHeartRadio app.
You're listening to KFI AM six forty wake Up Call
with me Amy King on demand on the iHeartRadio app.
Speaker 2 (00:10):
KFI and KOST HD two Los Angeles, Orange County.
Speaker 3 (00:16):
OH.
Speaker 4 (00:27):
KFI Radio.
Speaker 1 (00:28):
This is Mission Control Houston. Please call station for a
voice check.
Speaker 4 (00:37):
Station.
Speaker 1 (00:37):
This is Amy King with kfi's wake up Call. How
do you hear me?
Speaker 4 (00:43):
I can hear you loud and clear, and it's time
for your morning wake up call.
Speaker 2 (00:51):
And its name is Amy King.
Speaker 5 (00:56):
Here's Amy King. This good morning.
Speaker 1 (01:06):
It's five o'clock straight up. This is your wake up
call for Tuesday, August fifth. I'm Amy King. We're live
everywhere on the iHeartRadio app. Happy You're getting your day
started with us. Here's what's ahead on wake up Call.
The fire burning in Santa Barbara and San Luis Obispo
Counties continues to throw up a huge plume of smoke
(01:26):
as it grows to more than seventy two thousand acres.
The fire that started Friday is just three percent surrounded.
A funeral service is being held in your Belinda today
for La County Sheriff's Detective William Osborne. He is one
of the three detectives killed when a grenade exploded at
a sheriff's training facility in East LA last month. Services
for the other two detectives will be held over the
(01:48):
next week. In response to Texas's efforts to redraw congressional
districts in favor of Republicans, California Democrats are apparently considering
a new political map that could win five more US
House seats for their party. The plan would need to
be approved by lawmakers and voters. After the state handed
redistricting power to an independent commission years ago, Texas Democrats
(02:11):
left the state to stop Republicans from redrawing those district maps.
I'm going to find out what's going to happen next
when ABC's Jim Ryan joins us. That's coming up in
just a couple of minutes. It's never too early to
start planning for the holidays, right, I mean, we're just
four months and twenty days away. So kfi's national correspondent
Rory O'Neill's going to join us. He says this year's
(02:32):
festivities could cost you a pretty penny thanks to tariffs.
That's coming up at five to twenty. Joel lars Guard's
back from vacation. He took like a month off must
be nice. Joel's going to tell us about how time
is running out to get an ev rebate if you've
gone electric. Also, we're spending a lot more on cars,
(02:55):
a lot more. Is that the wisest way to spend
your heart earned money? I have a few. I know
how Joel is going to react to that. And also
one of Joel's neighbors is turning one hundred years old.
Can you imagine? So we're going to take a look
back to what things looked like monetarily in nineteen twenty five.
(03:15):
Lots and lots coming up on wake up Call. Let's
get started with some of the stories coming out of
the KFI twenty four hour newsroom. Two fires are burning
out of control in Riverside County. The Gold Fire north
of Big Bear Lake has burned about three hundred and
fifty acres. The fire burning between Anza and Pinion Pines
has scorched twelve hundred acres. Night dropping helicopters have been
(03:36):
dropping water on the flames through the night. Evacuation orders
are in effect south of Alpine Village, and warnings remain
in effect near Pinion Pines. On both sides of the
seventy four. The seventy four highways been shut down. People
evacuated can head to the Anza Community Center. Animals can
be taken to the San Jacinto Animal Shelter or the
Coachella Valley Animal Campus Campus. The wildfire burning in Santa
(03:59):
Barbara and Say and Luis Obispo Counties has grown to
more than seventy two thousand acres.
Speaker 6 (04:03):
The fire has been burning since Friday afternoon in the
Los Padres National Forest northeast of Santa Maria. Evacuation orders
were expanded on Monday as the fire continues to grow.
Highway one sixty six is shut down between Highway one
oh one and the southern junction of Highway thirty three.
At least three people have been injured as a result
of the fire. Daniel Martindale CAFI News.
Speaker 1 (04:25):
Groups suing the Trump administration over immigration enforcement in southern
California have celebrated a win.
Speaker 7 (04:30):
The plaintiffs gathered together in downtown La days after a
federal appeals court upheld a temporary restraining order barring immigration
stops without probable cause. ACLU SoCal executive director Chandra bot
Nagar says the Trump administration is losing because it can't
justify most of its stops. If the government suggests quote
that they are not conducting stops that let lack reasonable suspicion,
(04:52):
they can hardly claim to be irreparably harmed by an injunction.
The plaintiffs, which include LA and other local governments, won
a longer injunction until trial can be held. Michael Monks
KFI News.
Speaker 1 (05:03):
President Trump's going to set up a task force this
week focused on planning for the twenty twenty eight Olympics
in LA. ABC's Alex Stone says Trump will be the
head of that task force.
Speaker 6 (05:13):
In a statement, the chair and president of LA twenty
eight said creating the task force marks an important step
in planning efforts to create the biggest and best Olympic
Games ever.
Speaker 1 (05:24):
Trump's expected to sign an executive order today to form
the task force. Let's say good morning now to ABC's
Jim Ryan. So, Jim, it's not the Alamo, but the
battle's on in Texas.
Speaker 8 (05:34):
It is, Yeah, the battle over redistricting between the census. Normally,
this is done every ten years after the census is completed.
The last time the district map was drawn up here
in Texas was twenty twenty one. And it was based
on the twenty twenty census. Well, here we are right
in the middle of the ten year census, and the
Texas Republicans, under the leadership of Governor Craig Abbott, at
(05:55):
the urging of President Trump, have drawn up the maps again.
They've created a map that favors five congressional districts for
the Republicans where Democrats currently are serving. Why does President
Trump want that, Well, that means five more Republicans in Congress,
potentially to give him some buffer. Right now, it's a
razor thin lead the GOP has in Congress.
Speaker 1 (06:17):
So it's not a given. They just are going to
make the districts more favorable.
Speaker 4 (06:22):
Right, you're right.
Speaker 8 (06:24):
You know this is all about math, essentially, about where
people live, how they voted previously. The Justice Department has
come in and said, look, the last map you adopted
was drawn up on racial lines. That's illegal. You can't
do that. You need to redraw the map. Well, it
was the same lawmakers who drew up the twenty twenty
one map were there drawing up this map, and they insist.
(06:46):
The Republicans say, now, it wasn't on racial lines, But
the Justice Department says it is, so the GOP says
its hands are tied.
Speaker 1 (06:54):
Okay, so interesting to note then too. I don't even
know if you've heard about this. But then in California
there's a Republican Congressman, Kevin Kylie, who wants to propose
a new law that would stop this from happening between censuses.
Speaker 8 (07:09):
Yes, and I know Gavin newsom Als who is proposing, Well,
if tax is going to do it, then California can
do it. Will carve out five Democrat friendly districts.
Speaker 1 (07:18):
Isn't every district in California Democrat friendly? And then I
don't think so, mostly.
Speaker 8 (07:23):
In the northern part. But yeah, so you know, this
could be a kind of a domino effective, state after
state saying you know, damn the census, let's go ahead
and redraw the map.
Speaker 1 (07:33):
Now, it's going to be so fun to watch. So
and then, in an effort to stop Republicans from changing
these maps, the Democrats have bugged out.
Speaker 8 (07:45):
Yes, they've decamped, as it were, and many of them
have gone to Illinois, some have gone to Michigan. I
know some have gone to California in order to deprive
it again. It's about the math. One hundred and fifty
member in the Texas House, they need two thirds super
majority in order to pass redistricting. That means that one
hundred must be present. So if fifty Democrats take off,
(08:09):
the Republicans don't have a quorum. They tried yesterday, no quorum.
They'll try again today. There won't be a qum. But
this is all really symbolic because at the end of
the day, this new map will eventually pass. It may
take two or three special sessions, but Governor Gabbott has
indicated a willingness to call that. So you know, in
the meantime we'll hear a lot of talk about this
(08:30):
and the Texas redistricting and how it could affect the
national scene in Congress right.
Speaker 1 (08:37):
And in the interim as this little fight goes on too.
Didn't Governor Abbott call for the lawmakers to be arrested?
Speaker 8 (08:45):
He did, And the State House Speaker is going to
issue civil arrest warrants. It's not a criminal thing, it's
just a civil arrest warrant, but that and so Texas
State troopers will be sent to find these lawmakers and
haul them back, drag them back to the to the
State House. But these warrants and the Texas State troopers
have jurisdiction nowhere beyond Texas, so again it's symbolity.
Speaker 1 (09:09):
Yeah. Well, and then I was looking into this because
I think I'm not sure. Was it Texas that tried
this one time before?
Speaker 4 (09:16):
Well?
Speaker 8 (09:16):
Yes, in twenty twenty one, the Democrats broke worum over
some new voting restrictions. But in two thousand and three,
this redistricting issue came up at that time and Democrats
went up to Ardmore, Oklahoma, enough of them to break
the korum in Austin. I went up there and covered
them in two thousand and three when this was happening.
One of the lawmakers then lawmakers, Jim Dunham, who was
(09:39):
in the House then and went up to Ardmore, Oklahoma.
He says he keeps his arrest warrant framed and on
the wall of his office as a symbol of pride
about this quorum break.
Speaker 1 (09:51):
Okay, you know the other interesting one because I'm from
Oregon and the Oregon Republicans did this in twenty nineteen
and some of them lost their careers because of it.
Speaker 8 (10:03):
Sure, and that could happen here. I mean, and the
governor is talking about stripping people of their office if
they don't come back and you know, do the business
of the legislature. So there are consequences. These who have
fled the state now are looking at five hundred dollars
a day fines and this threat, although you know, impotent
threat of arrest.
Speaker 1 (10:24):
Okay, well, we'll see and see how long it takes.
But like you said, it's pretty inevitable. Sure the Republicans
have control, They're going to do it.
Speaker 8 (10:31):
Yes, I mean, in the meantime, the Democrats want to
tell the rest of the country that this is what's
happening in Texas. Here's how it could affect you.
Speaker 1 (10:39):
All Right, thank you, ABC's Jim Ryan, appreciate it as always.
Speaker 8 (10:42):
Thanks Shamy.
Speaker 1 (10:43):
All right, we'll talk to you soon. Let's get back
to some of the stories coming out of the KFI
twenty four hour news room. A plan to take full
control of the Gaza Strip appears to be taking shape.
Local media is reporting that Prime Minister Benjamin Netanyahu's office
says the decision has been made and that Hamas will
not least the remaining hostages taken in twenty twenty three
unless the area comes under full Israeli occupation. The country's
(11:07):
security Cabinet is set to meet today to talk about
next steps for the war. The UN's nuclear watchdog is
set to visit Iran ABC's and as Delicate Terra says
it provides answers or could provide answers as to the
state of Iran's nuclear capabilities.
Speaker 9 (11:22):
After recent strikes from the US and Israel. The Iranian
parliament had barred the IAEA from inspecting the country's nuclear sites,
and it's still unclear whether the return of IAEA representatives
means those inspections will resume.
Speaker 1 (11:36):
President Trump claimed Iran's nuclear facilities were completely obliterated by
US strikes. Millions of people across the US are under
air quality alerts. Meteorologist ginger Z says the alerts extend
from the Great Lakes to the northeast. The air quality
rating in the Detroit area among the worst in the world. Today,
the culprit smoke from more than seven hundred wildfires in Canada.
(12:00):
She says that smoke is not forecast to blow out
anytime soon. The Southeast is bracing for flooding as a
tropical downpour bears down on the region. Flooding in Alabama
killed one person on Sunday, forecasters say the rain in Florida, Alabama,
and Georgia could stretch all the way into the weekend.
The State Department has proposed applicants for business and tourists
(12:20):
visas post a bond to apply to enter the US.
Speaker 10 (12:24):
This may make the process unaffordable for many. In a
notice to be published in the Federal Register today, the
Department says it will start a twelve month pilot program
requiring those from countries deemed to have high overstay rates
and deficient internal document security controls to post bonds of five,
ten thousand, or fifteen thousand dollars when they apply for
(12:44):
a visa. It says the country's affected will be listed
once the program takes effect. Deborah Mark Kafi News.
Speaker 1 (12:52):
Good way to kill tourism just a thought. Florida deputy
has wrangled an alligator in a swimming pool. Bodycam footage
shared by Saint John's County Sheriff's Office shows Deputy Richardson
first trying to capture an alligator in a swimming pool
with a net. Well that didn't work, so he just
reached down and used his hands to pull the gator
(13:13):
out of the water. The alligator, who was described as
super Mad was safely relocated to a nearby pond that
takes guts. No, thank you. Guess what it's Hello Kitty
crossbody Bag. If you're heading to Dodger Stadium tonight, No what,
They're very popular.
Speaker 3 (13:33):
Hello Kitty.
Speaker 1 (13:34):
The Dodgers take on the Cardinals at Dodger Stadium tonight.
First pitch goes out at seven o'clock. You can listen
to all the Dodger games on AM five to seventy
LA Sports Live from the Gallpin Motors Broadcast Booth, and
stream all Dodgers games in HD on the iHeartRadio app
Keyword AM five to seventy LA Sports. Sean Combs has
been denied bail once again. A judge turned down his
(13:55):
request to post fifty million dollars bail yesterday, saying the
entertainment mogul failed to satisfy his burden to demonstrate in
an entitlement to release Colmbs was convicted of two counts
of interstate prostitution. He is set to be sentenced October third.
Long Beach health officials have sounded the alarm over a
(14:15):
rise in the number of cases of typhus. Twenty cases
have been reported this year as the end at the
end of July. That's how many are typically reported in
a whole year. Residents being urged to take precautions against
the flea born illness. The New York Post is launching
a California Post. Owners of the tabloid newspapers say LA
(14:35):
and California surely need a daily dose of the Post
as an antidote to what it calls the jaundiced, jaded
journalism that has sadly proliferated. California Post content will appear
online and in print at six oh five. It's handle
on the news. It's not exactly the Alamo, but the
(14:55):
battle lines have been drawn in Texas and those battle
lines could extend to California over redistricting. I'll say good
morning now to kfi's national correspondent Rory own Neil.
Speaker 3 (15:09):
Morning, Rory, Hey there, Amy, good morning.
Speaker 1 (15:12):
Okay. So it's four months and twenty days until Christmas,
so it can't possibly be too early to start thinking
about Christmas. But Christmas this year could cost you. What's up?
Speaker 3 (15:28):
Yeah, it really could in large part because of these tariffs,
and the calendar really is the bigger problem here. We
started this Liberation Day in tariff talk around the same time,
a lot of stores place their orders with Chinese companies
that make all those lights that we use to decorate
our homes and trim the tree. So we could see
a lot fewer items on store shelves because for a
(15:51):
time there, remember the tariff on those imported goods was
around one hundred and forty five percent, So that means
a lot of stores limited what they were buying to
import and what ends up on the shelf may cost
you a little bit more.
Speaker 1 (16:04):
Okay, so is as more deals are agreed to, the
tarffs might go away. But that's not going to affect
because you said, like they've already had to order.
Speaker 3 (16:15):
Everything exactly because this was all happening in April and May.
That's right in the heart of the time frame. Well,
i'd say scrooged considering the holiday. Yeah, so that really
could hurt. And what we might see is you'll still
have ten different items on the store shelves, but there
may only be five in the back room for inventory,
(16:38):
not twenty five like they used to have. Because in
many cases it's smaller stores that are buying these items
to bring in a lot of other you know, we've
talked about toys a lot, but a lot of those
big companies like Hasbro, they can go and place orders
with other countries and it may be easier for them
to work around, but especially for smaller stores, they try
to order that inventory. A lot of them are low.
(17:00):
Just one three different companies in China to buy what
ends up trimming our tree.
Speaker 1 (17:05):
Okay, So since they had to pay more, they probably
ordered fewer, which means fewer cool decorations might be available,
and that might create a run on Christmas decorations.
Speaker 3 (17:20):
I think toilet paper, right, And what happened during the
pandemic is look and look, most of us are not
buying from tree top to tree skirt all new stuff
every year. Right, Maybe we'll buy a couple of new
strings of lights here and there and that kind of thing.
It's incremental and it is the definition of the discretionary purchase,
(17:41):
you know. I mean, I think we're all going to
be more concerned about what the Hamburger price is as
to whether or not Christmas lights cost a dollar more
this year, right in perspective, But it is something you're
going to notice, especially in some of those big box
retailers where we've seen a lot of cutbacks in their orders.
And that's according to the folks over at the National
Christmas Tree. Yep, there is such a thing Annison Sacramento.
Speaker 1 (18:04):
Who knew the National Christmas Tree Councils and Sacramento.
Speaker 3 (18:08):
Right, because I think Christmas, I'm okay.
Speaker 1 (18:12):
Is anything made in the US or pretty much everything's
coming from overseas, for like.
Speaker 3 (18:18):
If you have a real tree. If you have a
real tree, that's probably coming from North Carolina. And maybe
there's a version Sacramento apparently on the East coast. So
we think the Carolinas, and you guys on the West coast,
I'm sure think Big Oregon as the home of the
Christmas tree. So yeah, so that would certainly help. But yeah,
(18:40):
maybe we just change our priorities as to what we
buy and you know, maybe buy more fresh domestic product
rather than the code the junk that only lasts one
season anyway, So.
Speaker 1 (18:51):
Instead of getting the fake garland, maybe get the real stuff.
Speaker 3 (18:55):
Right and support an Oregonian.
Speaker 1 (18:57):
Yeah, of course that that creates a whole other problem
because then you have them drying out, you have fire
danger and all that stuff.
Speaker 3 (19:03):
But once you get the smell, that's what you've been
right to get the smell. Okay, that's the deal breaker.
Speaker 1 (19:08):
So that's interesting. Yeah, that they already had to order everything.
I didn't even think of that. I was thinking maybe
they would be thinking about cutting back on their orders.
But those are it's done deals. So look for higher
prices for Christmas decorations.
Speaker 3 (19:21):
And this is part of the first time we're going
to see you now Halloween. They have gotten in under
the gun. That really is impact on Christmas more than
other holidays.
Speaker 1 (19:28):
All Right. Kfi's national correspondent Rory O'Neil, thanks for the info.
Speaker 3 (19:33):
Thanks Amy all Right.
Speaker 1 (19:35):
Officials at some animal care centers in La County say
they've been taking care of extra dogs and cats that
have come from homes where people have been detained on
immigration raids. Since the ice raids started in June, the
county has taken in twenty two dogs and six cats.
Eleven of those dogs and two of the cats have
since been placed with new homes. Two people have been
(19:55):
killed in a wrong way crash and Santa Anna. Five
others were taken to the hospital. Police the driver who
caused the crash yesterday on Main Street was speeding and
hit three other cars head on the people killed were
in separate cars. California Republican Congressman Kevi and Kylie is
planning to propose a law that would prevent mid decade
(20:16):
changes to congressional voting districts. His proposal would also invalidate
any new maps approved before the twenty thirty cent census.
Governor Newsom says redistricting in California depends on Texas's next
move and their efforts to change their district maps.
Speaker 11 (20:32):
I'm appreciative that this member of Congress is waking up
to the the reality is what has occurred in Texas.
I haven't heard much from him as it relates to
the condemnation of their efforts.
Speaker 1 (20:44):
Newsom says if new district maps are drawn in California now,
they would be in place until twenty thirty. The state
would then switch back to its current independence system for redistricting.
Conservative activists in California want to try again to recall
Governor Newsom. Despite previous failed attempts. Last year, the group
Rescue California couldn't get the needed one point three million
(21:06):
signatures to get a recall on the ballot. In twenty
twenty one, a recall election resulted in sixty two percent
of voters choosing to keep Newsom in office. Activists would
have to collect one million valid signatures in a month
for another recall Newsom terms out next year. Three I
Atlas is not an alien spacecraft that's bigger at than
(21:27):
Mount Everest.
Speaker 12 (21:28):
Unless you believe a professor at Harvard Avi Lobe is
a theoretical physicist and cosmologist who says the interstellar object
discovered just last month is too big and too fast
to be natural and could be controlled by technology. Three
I Atlas is expected to pass right by Mars in
early October and the Sun by the end of October
before making its way out of the Solar System. It's
not expected to get close enough to Worth to be
(21:50):
a problem. Researchers a the seven mile wide interstellar object
is a mile and a half bigger than Mount Everest
and is most likely a natural comet, not an alien probe.
Michael Krozers.
Speaker 1 (22:02):
Bookie Nothing like a bad marriage to scare off the
wild beasts. Wall Street Journal says the Department of Agriculture
is using a recording of Get This Scarlett Johansson and
Adam Driver screaming at each other in marriage story they're
using it to frighten wolves away from cattle. In the
American West, the USDA is reportedly using drones of speakers
(22:25):
to blast the scene, as well as acdc's Thunderstruck, also
using fireworks and gunshots. A USDA district supervisor in Oregon
says the audio is being used to get wolves to
respond and know that humans are bad. I couldn't sit
through that movie, so yeah, it would scare me away.
(22:46):
The LAPD is asking for your help to find three
drivers who hit a sixty one year old man crossing
the street near Baldwin Hills. Police say the man was
crossing Librea Avenue Monday night when he was hit by
a car headed north. He was then hit by two
more cars. The man died on the way to the hospital.
None of the drivers stopped. Don't be surprised if your
(23:06):
property tax bill goes up. The assessed valuation of property
in La Counties jump nearly four percent over last year.
The county has seen valuation go up for the past
fifteen years in a row. Properties in La County combined
now top two point one trillion dollars. Shares of American
Eagle have soared up twenty percent. Following President Trump's comments
(23:29):
yesterday about its marketing campaign that features Sydney Sweeney on
True's social Trump called her the hottest her ad, the
hottest ad out there. Sweeney's ad with American Eagle has
sparked public pushback over its slogan Sydney Sweeney has great genes.
Some are saying it promotes eugenics. I don't get that.
(23:50):
Let's get back to some of the stories coming out
of the KFI twenty four hour newsroom. Funeral services are
being held today for the first of three La County
Sheriff's Department detectives killed when a grenade that was thought
to be inert exploded at a Sheriff's facility in East LA.
Detective William Osborne will be remembered during a service at
Friends Church in Your Belinda. The Bureau of Alcohol, Tobacco,
(24:13):
Firearms and Explosives says it believes the explosion last month
involved one of two grenades found at an apartment complex
in Santa Monica the day before. A guy who says
he was assaulted by a group of teenagers and Seemi
Valley claims the attack was a hate crime.
Speaker 2 (24:28):
There were this yelling, I mean this racial slurs.
Speaker 1 (24:30):
It was fair for my life, honestly, because I was
only getting hit in the back of the head, and
look he I didn't know if I was going to
pick it out of it. Eighteen year old Michael Robinson,
who's black, says he was chased and beaten Friday night
while hanging out with some friends outside a movie theater.
He says he and his friends were approached by seven
to eight people and one of his friends was punched
in the face after an argument. Then Robinson says the
(24:53):
group turned its focus on him. Four teenagers have been arrested.
One is the son of a Seemi Valley Police employee.
The Board of Supervisors is going to consider a proposed
ordinance to require all rental housing units in unincorporated parts
of La County to have maximum indoor temperatures of eighty
two degrees. That ordinance would also require landlords to allow
(25:15):
tenants to install portable cooling devices like air conditioning units
or fans, or other non mechanical cooling methods as they
put it, like blackout curtains to control the temperature in
their units. Menefee Mayor Ricky Estrada has been called up
to serve overseas.
Speaker 13 (25:32):
Estrata, a reservist in the US Air Force, is going
to be deployed for six months starting in October. Mayor
pro Tam Bob Carwin will serve as acting mayor until
Estrata returns. Estrada says he will stand communication with city
leaders and stay updated on local activities during his deployment.
Mark Mayfield, Kofi News.
Speaker 1 (25:51):
New Research ranks LA is one of the most walkable
cities in the US. Really The luxury vacation home rental
service Wander analyzed excess ability factors including wheelchair friendly attractions, walkability,
public transportation, and internet connectivity. LA comes in at number ten.
It has a score of sixty nine out of one hundred. Nashville, Tennessee,
(26:13):
and Washington, DC are the best cities in the US
to take a stroll. New ice cream flavor is about
to hit stores. It's a flavor you haven't had since
you were just a little baby. Freda and Oddfellow's Breast
Milk ice Cream is now available in limited release nationwide.
(26:34):
It's available through Freda's website while supplies last. It's described
as sweet, a little salty, smooth, with hints of honey,
and sprinkles of colostrum and features a distinct colostrum yellow tinge. No,
it is not made from real breast milk. I think
(26:55):
that's going to be perfect for guys with mommy issues.
Time to get in your business now with Bloomberg's Courtney
Donahoe Morning Card.
Speaker 5 (27:02):
I don't know if I could get over the last time.
Speaker 1 (27:05):
I know, but I think it's going to be a
little bit expensive and you might have to put it
on your credit card.
Speaker 14 (27:12):
Oh yes, because banks are playing card to get folks
who want a credit card. In this report of sponsored
by Fidelity, Good Morning, by the way, the Fitter Reserve
has found that more financial firms have recently raised the
requirements for lower end customers who want to get their
hands on a credit card.
Speaker 5 (27:27):
According to the Wall Street Journal.
Speaker 14 (27:29):
Banks are becoming a lot more cautious with lower end
shoppers because they're struggling to keep up when they look
at the card balances that's been on the rise for
those on a limited budget.
Speaker 1 (27:40):
So you have to have a better credit score to
get a credit card.
Speaker 14 (27:44):
Yeah, no doubt about it, because the banks are looking
toward those heavy spenders and targeting people with higher credit scores.
Speaker 5 (27:51):
For example, JP Morgan and City.
Speaker 14 (27:53):
They've rolled out premium credit cards in recent weeks, and
Amex is also updating its popular platinum card leader this year.
Speaker 1 (28:00):
Yeah, if you can afford the five hundred bucks a
year for.
Speaker 14 (28:02):
It, Oh exactly, that's why they're targeting those folksy.
Speaker 1 (28:06):
Okay, we've got a tween accessories chain that may not
make it.
Speaker 14 (28:13):
Yeah, Claire stores of filing, Yeah, for chapter eleven. They
could end up when you file for chapter eleven, you
could end up keeping your operations.
Speaker 5 (28:22):
It all depends.
Speaker 14 (28:24):
But they are inch and closer to filing for chapter eleven,
and sources say it could happen as soon as this week.
They have been struggling with weak demand from shoppers and
a very heavy debt load, and they are said to
have missed a couple of rent payments for June and
July on some of its stores.
Speaker 1 (28:40):
Okay, beef isn't just what's for dinner, it's what's breaking
the bank. Huh.
Speaker 14 (28:45):
Yes, and you see it in the grocery store when
you go there. Beef prices are at record highs after
years of drought. Pastors haven't been producing enough grass to
feed the cattle, so the ranchers have been cutting back
their herds even as Americans continue.
Speaker 5 (28:59):
To eat more beef.
Speaker 14 (29:00):
Average ground beef prices at the supermarkets past six dollars
a pound in June. Steaks eleven fifty pounds. That's a
high level in a decade.
Speaker 1 (29:08):
That's a lot. But you know what a good steak.
I wonder what that's doing. Then a courtney to prices
in restaurants. I wonder if we're getting those like you
know at Morton's where steak's costing you seventy or eighty bucks. Anyway,
I wonder how much that's going to go up.
Speaker 14 (29:25):
And some of them are passing that price along. They
have to do it in order to be able to
keep their margins, and especially if you look at the
restaurant industry margins, they are always pretty tight.
Speaker 1 (29:34):
Yeah, okay, let's talk a little bit on the other
end of the skip spectrum a little bit, you know,
lower cost fast food and beer.
Speaker 14 (29:43):
Yes, actually, let's talk a little liquor, beer and fast food.
Speaker 5 (29:47):
I guess this is going to be my vice report
for you.
Speaker 14 (29:51):
Most and Cores they lowered their financial outlook for the
the company, blaming week sales in the US. They've been
trying to counter.
Speaker 5 (29:58):
Or shift away from beer.
Speaker 14 (30:00):
On the other hand, the company behind Johnny Walker, they
say they're seeing strong demand from younger customers. Diaggio says
gen Z still spending, still going out. However, sales a
Taco Bell weaker than expected. That's sending shares of the
parent company young brands lower. For a number of quarters,
Taco Bell was definitely the power behind that brand because
they offered so many different buzzy things and low prices
(30:23):
which brought people in the door.
Speaker 1 (30:25):
And it is Taco Tuesday. I love me some good
Taco Bell.
Speaker 5 (30:28):
Yes. And they also, by the way, own Pizza Hut.
Speaker 14 (30:30):
And this was the seventh straight quarter of sales declines
and KFC also saw decline in sales in the US.
Speaker 1 (30:37):
Interesting like all three of them, huh, all three across
the board. And before I forget, I want to quickly
mention this because anytime I mentioned some a company possibly
filing for bankruptcy, we have to talk to the company,
and we reached out to Claire's for comment and there
was no response from them. So I want to make
sure that that is clear, okay, And then this could
(30:58):
be a bell weather for the whole glow economy caterpillars
having some issues.
Speaker 5 (31:03):
Yeah, well, they're seeing a drop in trading. This morning.
Speaker 14 (31:07):
The heavy equipment maker posted slightly lower sales for its
iconic yellow diggers and the bulldozers from a year ago.
But the company is very important to Wall Street because
they are a big bell weather on the health of
the economy because they work with so many industries construction
to energy, to farming. You could see it all across
the United States, all across the world. So that's why
(31:28):
when we see slightly lower sales, Wall Street gets a
little bit worried.
Speaker 1 (31:32):
Okay, and then speaking of Wall Street, I just wanted
to touch before we let you go. Huge gains yesterday
after huge losses on Friday, well, yes.
Speaker 14 (31:41):
Being more gains again this morning because second day of
gains in a row, because we had Friday's week jobs report,
and traders are increasingly betting that the Federal Reserve is
going to step in, that they're going to cut interest
rates next month.
Speaker 5 (31:53):
After that rough, rough ugliness that.
Speaker 1 (31:55):
We saw on Friday, bad news led to some good
news this morning.
Speaker 5 (32:01):
We're seeing S and P futures up two tens seven percent.
Speaker 1 (32:03):
All right, getting in your business like we do every
morning at five forty with Bloomberg's Courtney Donaho. Thanks Courtney,
see you later, all right, Touch you tomorrow. California Republican
representative is planning to introduce legislation that would prohibit mid
decade redistricting like what's being done in Texas, and it
would ban it nationwide. Kylie says the California Supreme Court
(32:24):
has held for decades that the state constitution forbids the practice.
California Democrats are looking at redrawing maps in California to
gain five seats for the Democrats in response to what
Texas is doing. A brush fire that erupted in the
San Bernardino National Forest between Anza and Pinion Pines quickly
grew to twelve hundred acres. Highway seventy four remains closed
(32:44):
because of the fire and evacuation orders or in place.
Evacuation orders were issued for Alpine Village. Warnings were issued
in and around Pinion Pines around Highway seventy four. CalFire
air tankers and water dropping helicopters initially slowed the fire yesterday,
but then those whims wins whipped it up again. There
were no tickets sold with all six numbers to last
(33:07):
night's Powerball drawing. That pushes the jackpot up for the
next drawing, which is Wednesday, to about four hundred and
forty nine million dollars. We're just minutes away from handle
on the news this morning. Well, the Democrats bugged out
and headed to Illinois from Texas. Going to tell you
(33:27):
what's next for them, and it might include orange jumpsuits. Ah,
let's say good morning too. The host of How to
Money on KFI, fresh off a very long vacation, Joel Larsgard.
Speaker 3 (33:41):
Morning, Good morning, Amy, welcome back.
Speaker 1 (33:45):
Where'd you go?
Speaker 4 (33:47):
Oh? Glad to be back. It was in Seattle for
a cousin's wedding, and then we went to Hawaii for
a little bit and had the best time Hawaii for.
Speaker 1 (33:57):
A little bit and had the best time. Did you
swin with Alfin?
Speaker 4 (34:01):
No, we did do some surfing and saw a live
lava flow at Volcanos National Park that that was pretty epic.
Speaker 1 (34:08):
Nice. Okay, Well let's get let's get down to the
money business time running out to get the tax break
on your electric vehicle.
Speaker 3 (34:19):
Yeah.
Speaker 4 (34:19):
So this this is one of those things where similar
to the retrofitting your house and doing energy efficient upgrades.
The law was you know, when it was written, it
was supposed to be around for many years to come,
and it was like, oh, great, I can buy my
electric vehicle this year, or I can wait a few
years and I can still get that sweet tax credit
that's seventy five hundred dollars discount on upgrading to an EV. Well,
(34:42):
the Trump administration and the Big Beautiful Bill has essentially
truncated the timeline significantly on both of those things. And
so if you're like I was thinking about getting E
the and the M I hold off till I don't
know twenty twenty six, twenty twenty seven, Well, the numbers
are going to get much worse on buying electric vehicles
to payoff. Timeline is going to increase significantly because this
(35:06):
federal tax credit is going away. So I think it's
certainly going to lessen the interest of buyers in electric
vehicles because that was a huge part as they're an
expensive upgrade and the seventy five hundred dollars tax credit
was a big part of what made it financially feasible
for people to upgrade. But now that tax credit ends
the end of next month. So if you're in the
(35:26):
market if you're thinking about it, like time is of
the essence to buy that electric vehicle, or you're going
to completely miss out on that substantial discount, Okay, And
then it's.
Speaker 1 (35:35):
A tax credit, so then if you do it by
next month, then you claim it on next year's taxes.
Speaker 4 (35:41):
Well and right now, like typically that's included in the
sale price, like the dealership will factor that in, and
another great way to proceed in getting an electric vehicle
right now. Typically I'm against leasing, Like leasing doesn't make
much sense. It's a lifestyle move, it's a really expensive
lifestyle move. You've got to cash to lease a car,
(36:01):
go for it. But leasing an electric vehicle before September
thirtieth could make sense because there's some pretty sweet discounts
on some electric vehicle model. Subaru has kind of an
unloved electric vehicle that's decently inexpensive when you opt for
a lease Kia. They're EB six. It's pretty inexpensive when
you opt for a lease, and part of the reason
(36:22):
you're getting a better discount of the lease is because
the federal tax credit. So my guess is that the
lease prices on those electric vehicle models are going to
increase come October, but right now they can still be
had for a reasonable price. If you're like, I'm not
sure I want an electric vehicle. I don't want to
drop fifty grand to upgrade to a Tesla Model Y
or something like that, but I do want to kick
(36:43):
the tires. Leasing an electric vehicle is and again, normally
something I don't mention or I don't talk about as
being a good thing, but it could be a good
thing right now in this case.
Speaker 1 (36:52):
Okay, And then, since since you don't like to talk
about leasing, let's talk about buying cars. And people are
spending a lot on cars.
Speaker 4 (37:01):
I guess they don't want people to leave or buy.
I just want people to be content with what they've
got and continue to put money into it. I guess
if they need to, because yeah, there was new information
from Edmundson. Just every year this gets worse.
Speaker 3 (37:13):
So every year I.
Speaker 4 (37:14):
Pulled my hair out just a little bit more, and
I'm probably gonna prematurely bald because of just how much
people are spending on cars. And I really do think
any that this, for some reason is this quintessential part
of the budget that if people paid more attention to it,
they would feel like they had more financial flexibility and
they would be able to reach greater stages of financial
independence a whole lot earlier. But if you just buy
(37:36):
into the stock belief that buying a new car one
thousand dollars car payments aren't that big of a deal,
it's going to delay your timeline significantly. So, no matter
whether you're getting an electric vehicle or an internal combustion
engine vehicle, one thousand dollars monthly car payments, they used
to be this, like what who would do that? And
now it's kind of part for the course. More than
(37:57):
one in five car buyers is signing up for a
thousand dollars monthly car payment, and it's not because they're
opting for a twenty four month loan or a thirty
six month loan in order to pay it off more quickly.
Often these loans are for six years, seven years, and
so signing up for that car payment for that many
years in perpetuity, that's the kind of thing that blows
(38:20):
your budget and it really runs you the risk of
being underwater for a significant period of time in that car.
So yeah, I'm kind of against car payments in general.
A thousand dollars car payments, like, yeah, that's one of
the worst things in the world.
Speaker 1 (38:36):
So I was just doing the quick math because I'm
really good at math. That's like, that's like almost one
hundred thousand dollars by the time you're done with it.
I mean, So, I mean, is everybody just going out
and buying all these huge cars that they can't afford?
Speaker 4 (38:49):
I mean, I think that's a big part of it.
And when you stretch out, the cars have gotten more expensive,
interest rates have gone up, and cars have gotten bigger
and fancier, and so we're not comparing apples to apples
from cars twenty years ago. Think about how nice some
of these new cars are and people are like, oh,
the Jeep, Grand Wagoneer or something like that. Or think
about how commonplace trucks have become, even though not everybody
(39:13):
needs a truck for business purposes. But oh, I like
my big truck, and I have no problem with you're
driving a big truck, but maybe consider one that's fifteen
years old. Is it going to cost you a thousand
dollars a month if that's the kind of car you
want to drive, But going out there and making that
upgrade to either a fancy or a just much bigger car,
and signing yourself up for that sort of car payment
(39:34):
for years to come. That just comes at the cost
of you having financial flexibility most of the time for
most people. Yeah, if you're signing up for those kinds
of car payments, I mean, you can't actually afford the car.
And my belief is that if you can't pay that
car off in thirty six months or less, you really
can't afford the car. You need to opt for a
cheaper car, an older car, like you need to figure
(39:55):
something else out, because it's just going to jack up
your finances too much. I don't think it's I don't
think it's justifiable.
Speaker 1 (40:02):
Okay, now I want to before we let you go,
I want to jump back into the way wayback machine.
I think this is always fun. So tell us about
your neighbor who just celebrated her one hundred birthday and
what you found, what they had at the party.
Speaker 4 (40:15):
Okay, So my neighbor, Miss Betty, just turned one hundred.
She literally my next door neighbor. She's wonderful. Her genes
are incredible because her sister is one hundred and four,
which is impressive, and so actually at her birthday, there
was like this they her family had mocked up this
old newspaper article and they talked about the cost of
living one hundred years ago, and they said, oh, hey,
(40:37):
the new the price of a new house was six grand.
The price of a new car, not forty five grand
like we're talking about now, was three hundred and ninety dollars,
and the average income per year was one thy four
hundred dollars. So when you go back one hundred years
to when miss Betty was born, we're talking about a
significant difference in everything, in prices, in income. And you
(40:59):
might like hear that stuff and say, oh my gosh,
like we're living in such an expensive era. What a simpler,
easier time, And yes, it probably was simpler. But if
you also look at the value of the return on
your money on the dollar that you would have invested
in the S and P five hundred, one hundred years ago,
if you had put one hundred bucks into it, you
(41:21):
would be talking about having millions of dollars in your
investment account, millions from a one hundred dollars investment. So
that's just the kind of thing I want to put
in perspective. People. You look back and you say, man, inflation,
it's crushing. Well, how do you outpace inflation? It's through investing.
And it's amazing how even just a small investment, right,
that was you know, just a little bit one hundred bucks,
(41:44):
which I guess at that period of time one hundred
bucks was a lot, but that would have massively earned
you a lot more than the price of cost increases
over time.
Speaker 3 (41:53):
Yeah.
Speaker 1 (41:54):
Well, and if you again here I am doing the math,
and I'm not sure that it's all right, but like
you said that a car costs three hundred and ninety
dollars and yearly income was one fourteen hundred correct, Okay,
So like if you do that math, where now people
are buying one hundred thousand dollars car and making less
than one hundred thousand, I mean, like if the math
(42:16):
just doesn't add up for now.
Speaker 3 (42:19):
Yeah.
Speaker 4 (42:19):
Yeah, And that's partly again because things keep getting fancier.
If we were content with the econo boxes of twenty
five years ago, you know, my first car, just this
old school camera. Think about how a camera has changed
over the past twenty five years. Like, they're much fancier now,
they're much bigger now, and so part of that is,
it's some of it's good and then some of it
(42:42):
just means everything's going to cost more and we have
to That's why I was glad to hear something like
Slate Auto Launch, because they're like, we're going to create
a no frills electric vehicle that costs twenty five grand.
And I think it's not that it's not that some
better options don't exist, or cheaper options don't exist. It's
just that our eyes are trying to the fancy stuff.
Speaker 1 (42:59):
Okay, more great advice and tips from our friend Joel
Lawyersguard who's back from vacation, which means you can hear
him this Sunday noon to two on how to Money
on KFI. Follow him at how to Money Joel. Thanks Joel,
we'll talk to you next week. Welcome back, so good.
Speaker 4 (43:18):
Thanks Amy.
Speaker 1 (43:18):
All right, this is KFI and kost HD two Los Angeles,
Orange County, live from the KFI twenty four hour newsroom.
I'm Amy King. This has been your wake up call.
If you missed any wake up call, you can listen anytime.
It's on the iHeartRadio app. You've been listening to wake
Up Call with me, Amy King, you can always hear
wake up call five to six am Monday through Friday
(43:39):
on KFI Am six forty and anytime on demand on
the iHeartRadio app.
Wake Up Call with Amy King News
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