CA Lawmakers Goal Quick-Meals Trade, Youngsters’s Privateness In New Measures | Robins Kaplan LLP

California lawmakers have passed a bill that, if signed into law by Governor Gavin Newsome, could “transform the way the service sector is regulated by creating a counsel to set wages and improve working conditions for fast-food workers.” The measure would, among other things, represent “an important step forward toward sectoral bargaining, in which workers and employers negotiate compensation and working conditions on an industrywide basis, as opposed to enterprise bargaining, in which workers negotiate with individual companies at individual locations” – NY Times and WSJ

Busy as ever, the same state legislators also passed a new law “requiring apps and sites to install guardrails for users under 18,” the first of its kind in the US Going well beyond the federal COPPA, California’s Age-Appropriate Design Code Act would , if approved by the Governor, require “online services for general audiences to proactively design their products and features to protect child users” and “to turn on the highest privacy settings by default for minors” – NYTimes

Honda and LG are teaming up to jointly build a new US-based battery plan “for a slate of new electric cars” that Honda will unveil in the coming years. The plant “is one of about a dozen battery factories that automakers and their partners are planning or have under construction as part of an enormous push to ramp up sales of electric cars and trucks” – NYTimes and WSJ

Stocks closed down again to start the week, though just by a fraction compared to the mega-selloff last Friday after Chair Powell did what he’d been forecasting for weeks and affirmed that the Fed was committed to raising rates to get inflation in check. Happily for the Fed, that’s kind of what it wanted all along – WSJ and Bloomberg and MarketWatch

Meanwhile, the central bank’s quantitative tightening (in the form of unwinding its $9 trillion balance sheet) is set to kick into high gear this week, when the Fed “will finally begin unloading the Treasury bills it started amazing almost three years ago” – Bloomberg

More back story on the abrupt departure of the Carlyle Group’s CEO, Kewsong Lee, the handpicked successor to the firm’s founders who—it now seems—just couldn’t quite stay on the sidelines during Lee’s tenure and ultimately helped show him the door – NYTimes

Peloton is reportedly delaying its 10-K reporting, “saying it needs more time to sort out accounting tied to the fitness company’s restructuring effort” in which it will rely on partners like Amazon for warehousing and shipping rather than doing so in-house – Bloomberg

As widely expected, Elon Musk’s lawyers are pulling out all the stops to draw Twitter whistleblower Peiter Zatko into Musk’s ongoing battle with Twitter over his withdrawn $44B bid to purchase the social media company – WSJ and TechCrunch and Bloomberg and MarketWatch

Politico is reporting that the DOJ is in the “early stages of drafting an antitrust lawsuit against Apple,” though much about the suit—including whether it will be filed at all—remains unknown. Justice has been investigating Cook & Co. since at least 2020 over its App Store dominance – TechCrunch

It’d be awfully easy to overlook, but the little 2.5 story brick house in TriBeCa that’s housed a barbershop, footwear store, and a J. Crew over the years is much more than meets the eye (and well worth your time) – NYTimes

stay safe

MDR