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Retailers issue 'warning' to Trump that higher prices are coming soon: report

Retailers are likely to raise prices "in the coming weeks" due to President Donald Trump's tariffs, according to a report in The New York Post.

Business editor and Fox correspondent Charles Gasparino wrote Friday, "The retail industry is alerting President Trump that they can’t 'eat' his tariffs forever – and price increases are likely to hit in the coming weeks."

"Whether this gets translated into higher official inflation numbers is anyone’s guess at this point. But for many items enjoyed by Americans who like cheap goods brought in from abroad – a majority of them from China – these things will soon be getting a lot less cheap."

EXCLUSIVE: Trump accused of new grift that puts Qatari plane in shade

Trump famously told Walmart execs to "'EAT THE TARIFFS,' and not charge valued customers ANYTHING."

"I’ll be watching, and so will your customers!!!" he warned.

Gasparino's anonymous sources told him that "the retailers’ warnings to the president about how they can’t just eat tariffs indefinitely were well received in the sense that Trump didn’t chase them out of the Oval."

Gasparino speculated that "When the price increases begin to spread, that could set up an interesting catfight between the president and a huge chunk of the business community."

Read The New York Post article here.

Inside the Democratic National Convention corporate interest moneyfest

CHICAGO — In ballrooms, barrooms and backrooms this week, the business of big business is getting done with Democrats out of public view.

Yes, Bernie Sanders on Tuesday railed before Democratic National Convention delegates about how “millionaires and billionaires” should “not be able to buy elections.” And sure, curtailing “the corrupting influence of money in politics” is a plank in the 2024 Democratic Party platform.

But most Democrats in Chicago are ignoring the socialist senator and stepping over and around that party plank while pursuing cash that corporations and moneyed special interests are all too keen to contribute.

Foremost, there are those who are asking for money.

Take the California Democratic Party, the home state party committee of 2024 presidential nominee Kamala Harris.

For $250,000, a corporation, union, trade association or individual can this week claim a “California gold” sponsorship that entitles the giver to a bevy of benefits, according to a brochure obtained by Raw Story.

Among the perks: membership on the party’s finance committee, "private VIP receptions," eligibility for “special” convention credentials, “priority” lodging and the “opportunity to include items in California delegates' tote bags." One's corporate or organization logo will be “displayed at the California Bash” — a tony party on Aug. 21 at the House of Blues Chicago — and “all four California Delegate breakfasts.”

The Texas Democratic Party similarly offers a $50,000 “Longhorn” package.

In part, it buys a taker “recognition as a title sponsor at our delegation breakfasts & Texas reception,” “one suite in our room block (4 nights)” and “4 guest passes for all Texas delegation breakfasts” and “2 VIP passes to the States Party with access to the Foundation Lounge,” according to a party document appropriately titled “sponsorship opportunities for the 2024 Texas Delegation.”

The Maryland Democratic Party features a $75,000 “Chairman’s Sponsor” package.

For that price, you’ll get “recognition in the Maryland Delegation Hotel and at all 14 Maryland Celebration events” along with a host of other items and honorifics.

And the National Democratic Institute, a nonprofit organization led by former Senate Minority Leader Tom Daschle (D-SD), is promoting its “exclusive landmark event space” to “network with global political leaders” and “400 high-level guests” to “build relationships as they address pressing challenges to democracy,” according to an invitation obtained by Raw Story.

Sponsorships of the National Democratic Institute’s week of Democratic National Convention-themed events in Chicago begin at $10,000 and top out at $250,000 — with a top-tier sponsorship landing the “presenting sponsor” a veritable public relations campaign, ranging from “inclusion of corporate materials at events and in registration packets” to an “invitation to meet Senator Tom Daschle and other high-level leaders.”

Sponsors from past Democratic National Conventions include Facebook, Visa, AT&T, oil company Chevron and pharmaceutical company Amgen, according to the invitation.

Raw Story reviews of more than 20 other convention-themed invitations from political committees, political consulting firms, state delegations and politically focused nonprofits yielded similar offers.

Sunlight dims

Democrats don’t want to talk about this lesser-known side of their national convention, where all manner of special interests have a standing invitation to shmooze with party brass and tour the party’s inner sanctum — for a price.

Officials for the California, Texas and Maryland Democratic committees did not respond to multiple emails and phone calls from Raw Story. Nor did officials from the Democratic National Committee.

Why such secrecy?

Accepting big money is inconvenient for Democrats, who have rhetorically railed against the era of unlimited election spending by corporate, union and certain nonprofit interests, which the Supreme Court’s 2010 decision in Citizens United v. Federal Election Commission animated.

RELATED ARTICLE: How much access did $50,000 buy someone at the Republican National Convention?

But just as it does for Republicans, big money keeps Democratic committees competitive in the age of permanent political campaigns. It fuels politicians’ ambitions and helps keep them in power.

Where exactly this Democratic National Convention-adjacent money goes after everyone leaves Chicago often depends on the individual campaign finance laws of each state. It might end up in a federal, or state or ballot measure account. Maybe all of the above. Or somewhere else entirely.

Some of this money will be publicly disclosed, eventually, just as the Democratic National Convention and its host committee must disclose its funders, eventually.

However, some of the money — particularly if it comes from a politically active nonprofit group that may legally avoid disclosing its own funding sources — will remain unknown to average Americans, just beyond the “dark money” realm’s event horizon.

Since the high court’s seminal decision, Democratic leaders have often argued that they cannot “unilaterally disarm” and simply let Republicans bludgeon them with fat stacks of corporate cash. So they’d play the game in hopes of ending the game.

Advocates for good government are decidedly unimpressed at what they consider pay-to-play political ickiness.

"Sponsorship and events funded by corporate interests during both major political party conventions is yet another way that industry is able to peddle influence and overshadow the voices of real people,” said Donald K. Sherman, executive director and chief counsel of Citizens for Responsibility and Ethics in Washington.

“Until Congress actually attempts to do something about this, the conventions will remain the same,” said Jessica Tillipman, associate dean for government procurement law at The George Washington University in Washington, D.C. “I don't see either party willing to step up and take measures to reduce influence peddling if they are not required to do so.

The givers

At most, Democrats’ approach to political money is of academic concern to the givers who, for a relative pittance, snag something far more precious than their five- or six-figure contribution: access.

Proximity to power, while never a panacea, is nevertheless a ticket to emails answered, phone calls returned, meetings scheduled and honored. It’s a tool for favorable regulations and prod for advantageous legislation. In a pinch, it’s a weapon against naysayers.

Invest a little now, get a lot later. Make friends, influence people, plan for a rainy day when the government seems more against you than with you.

Raw Story contacted more than 40 corporations and trade associations that, according to federal data compiled by nonpartisan research organization OpenSecrets, spent at least $1 million on federal-level lobbying efforts last year or are on pace to do so this year,

The vast majority of them did not respond to multiple requests for comment on whether they, in any form or fashion, supported the 2024 Republican or Democratic national conventions, or sponsored any political committee, state delegation or policy organization participating in convention festivities.

Chicagoland-based corporate giants McDonald’s Corporation and Allstate Insurance Company had nothing to say. Nor did Microsoft, Boeing, Pfizer, Apple, Comcast, Visa, Verizon, CVS, UPS, FedEx, Honeywell, The Walt Disney Company, Salesforce, TikTok, defense contractor RTX and Facebook parent Meta.

ExxonMobil co-sponsored a Democratic National Convention side event staged by Punchbowl News — one disrupted by climate activists. (The oil giant did not immediately respond to a request for comment.)

“We don’t have any comment,” said Megan Ketterer, a spokesperson for AT&T, whose logo could be found on kiosks, credential lanyards and signage in and around the Democratic National Convention.

ALSO READ: ‘Absolutely essential’: Son of Oath Keeper Stewart Rhodes is all in for Kamala Harris

Lockheed Martin responded to a Raw Story inquiry that included several detailed questions about the defense contractor’s participation in the 2024 convention.

Sort of.

A company spokesman, who declined to be named, first had questions for Raw Story: How many companies and special interest groups did Raw Story contact? Which ones? Did they respond?

In the end, Lockheed declined to answer most of Raw Story’s questions and emailed a statement: “We plan to attend both the Democratic and Republican conventions as part of our long-standing approach of non-partisan political engagement in support of our business interests.”

Raw Story persisted: “Are you able to offer any specifics on how you plan to support your business interests at the conventions? How much money does Lockheed Martin plan to spend between the two 2024 national party conventions?”

“We don’t have anything else to share,” the spokesman replied.

Chicago-based United Airlines — namesake of the United Center, where the Democratic National Convention is being conducted — said in a statement that the company “supported both the Milwaukee and Chicago Host committees” and increased the number of flights between Washington, D.C., and the two 2024 national convention cities.

Asked for additional details, United demurred: “We won’t have any further information to share.”

Similarly, a Google spokesperson, who declined to be named, noted that the company did not donate to either the Democratic or Republican convention committee, but helped “both the Republican and Democratic committees livestream their conventions on YouTube – like we have in previous elections.”

The Google spokesperson declined to comment on support Google did or did not offer state delegations, political committees and the like in conjunction with the Democratic or Republican national conventions.

A Walmart spokesperson said the company didn’t donate to either the Democratic or Republican convention funds but declined to comment further.

Some of the nation’s top lobbying forces were a bit more forthcoming.

“GM will sponsor the Democratic National Convention,” General Motors spokesperson Liz Winter confirmed. “We have supported both conventions for many years and aim to provide equivalent support to both the RNC and DNC. Through continuous bipartisan engagement with organizations like the Republican National Committee and Democratic National Committee, we have an opportunity to build an understanding of the issues important to our industry, our people and the communities we support.”

She added: “Our presence at the conventions does not represent an endorsement of a candidate.”

A few said they simply sat the 2024 national political conventions out.

Wells Fargo “did not contribute to either convention,” bank spokesman Robert Sumner said, adding, “no events, either.”

“We have not contributed for activities at the political conventions,” said Brian Dietz, spokesperson for trade group NCTA – The Internet & Television Association.

The National Federation of Independent Business has “not contributed any money / sponsorships or in-kind contributions to either the RNC or DNC conventions,” spokesperson Jon Thompson wrote in an email.

But the party never ends

When the Democratic National Convention ends Thursday night, and the final Democratic revelers stagger back to their downtown Chicago hotel rooms, there will have been hundreds of individual events and opportunities for wealthy special interests to leave their mark.

To take one: Invariant, a government relations and communications firm that lists Home Depot, H&R Block, Toyota, Marriott International and Cigna among its clients, hosted an “exclusive brat brunch” on Tuesday attended by “media personalities, influencers, administration honchos, Members of Congress, campaign staff diehards, and your friends at Invariant," according to an invitation shared with Raw Story.

Among those personally invited: Rep. Debbie Wasserman Schultz (D-FL), per an invitation.

It’s unclear whether the congresswoman attended. But as Politico would report afterward, a roster of other federal lawmakers sure did, mingling with lobbyists and activists and lots of folks with political agendas.

Invariant did not return requests for comment. But based on a question it poses on its website to potential clients, the event appeared to accomplish the firm’s mission.

“There are only two questions when it comes to lobbying,” Invariant posits. “Do you want to find Washington, or do you want Washington to find you?”

Sen. J.D. Vance finally dumps stock in 'slave labor' company

Freshman U.S. Sen. J.D. Vance (R-OH) has sold up to $100,000 in stock he owned in Walmart — a full two years after he bashed the company for using “slave labor” and robbing middle-class Americans of jobs.

Vance made a “full" sale of Walmart on Oct. 3, according to a document filed Monday with the U.S. Senate.

Vance, a venture capitalist and author of the bestselling book, “Hillbilly Elegy,” has owned between $50,001 and $100,000 in Walmart stock since at least November 2021, which is when he filed his first candidate report with the U.S. Senate, according to a Raw Story analysis of federal financial disclosures.

"Since taking office, Senator Vance has been working to discharge individual securities as quickly as possible. The investment in question was sold and disclosed in compliance with the STOCK Act, which prohibits members of Congress from trading on material non-public information," William Martin, a Vance spokesperson, told Raw Story in a statement.

POLL: Should Trump be allowed to run for office?

While seeking the Republican nomination for his Senate seat, Vance criticized politicians for sending much of the United States’ manufacturing jobs to China.

“They make it more cheaply because they were relying on slave labor. So maybe you go to Walmart and things don't cost as much. But in the process, a lot of middle-class people lost those good jobs that enabled them to support them,” Vance said at an October 2021 event in Dover, Ohio, Salon reported.

ALSO READ: Trump ‘stiffs law enforcement officers’: Nikki Haley

Vance doubled down on the “slave labor” accusation against Walmart in a discussion with conservative commentator Buck Sexton, according to Salon.

“Who cares if you are employing Chinese slaves? Who cares if you are benefiting from the Communist Chinese Party's slave labor?" Vance said. "So long as you are properly woke, so long as you teach diversity, equity and inclusion at your workplace, you won't face any scrutiny, you won't face any consequences."

Vance defeated Democrat Tim Ryan in November to win a six-year term.

Walmart just illustrated how mainstream electric vehicles are now

This story was originally published by Grist. You can subscribe to its weekly newsletter here.

In the latest sign that corporate behemoths are getting behind the shift to electric vehicles, Walmart announced on Thursday that it would install fast-charging stations at thousands of locations around the country. The rollout would quadruple the company’s network of charging stations, currently available at more than 280 Walmart and Sam’s Club stores.

Walmart’s move could help allay a common concern about buying an electric car — range anxiety, the fear of getting stranded with a dead battery and no chargers in sight.

“We’ve got a Walmart store or Sam’s Club within 10 miles of 90 percent of the population in this country,” Vishal Kapadia, the company’s senior vice president of energy transformation, told the Washington Post. “We know we can address range anxiety in a way that no one else can.”

Seen as a pipe dream not long ago, the shift to electric vehicles is finally becoming a concrete reality. This year, the United States hit the milestone of 3 million electric vehicles on the road. That’s only about 1 percent of America’s vehicles, but sales are growing fast, with EVs making up 7 percent of new vehicle registrations in January, almost double the year before.

New laws and recent business pivots are nudging electric vehicles further into the mainstream. President Joe Biden plans to build a national network of 500,000 charging stations by 2030, with the government recently allocating $7.5 billion to that effort. California has banned the sale of gas-powered cars by 2035, with at least a half-dozen other states following along. On the business side, automakers are going all in on the trend — albeit in the American tradition of oversized trucks and SUVs. With Walmart adding chargers nationwide, the country’s largest retailer is now on board, too. After a century, the internal combustion engine’s century-long grip on the country is beginning to look shaky.

The adoption of electric vehicles has long been plagued by worries that they won’t be able to meet people’s everyday driving needs. A study last spring, for example, found that people underestimated how many daily tasks electric vehicles could fulfill by as much as 30 percent. Perhaps in response to those concerns, automakers have been churning out cars with longer ranges. Ram recently announced that its upcoming electric pickup, the Ram 1500 REV, will carry a battery option that can go 500 miles on a single charge — roughly enough for an eight-hour road trip.

The sticker shock of buying an electric car has also been a hindrance to sales. But Tesla, which controls about two-thirds of the EV market in the United States, slashed its prices in January, pressuring its rivals to follow suit. The Model Y, for example, went from $65,990 to $52,990, a 20 percent drop, and the company has said it will prioritize affordability in its next generation of vehicles. Mass-market electric vehicles could become as cheap as gasoline-powered cars this year, according to the New York Times. That’s partly thanks to subsidies and tax credits in the Inflation Reduction Act, the landmark climate legislation that Biden signed last year. For people buying new EVs, the IRA offers up to a $7,500 tax credit; this week, Ford announced that its whole lineup of EVs are eligible for either half or all of that credit.

One indicator that Americans are starting to get comfortable with electric cars is that they are becoming less polarizing. In the first decade of the 2000s, the hybrid Toyota Prius, became a cultural flashpoint, after it became associated with a moralizing brand of environmentalism. Fast-forward to last spring, and America’s long-time bestselling vehicle and a Republican favorite — the Ford F-150 pickup truck — went all electric, with a waitlist three years long at the time of its release. The IRA may also help change the political calculus by sending billions of dollars flowing into EV and battery factories in red states such as South Carolina, Tennessee, Texas, and Georgia.

To be sure, some Republicans are still dead-set against electric-powered cars. But up against Walmart, Ford, and billions in green investment, it’s hard to imagine that they could stop the growing momentum behind electric vehicles.

Grist is a nonprofit, independent media organization dedicated to telling stories of climate solutions and a just future. Learn more at Grist.org

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