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CBS Shelves "60 Minutes" Story on Trump Deportees at Last Minute; California Bracing for More Rain, Flooding and Snow this Week; Biggest Business Stories of 2025. Aired 3:30-4p ET
Aired December 22, 2025 - 15:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[15:30:00]
ERICA HILL, CNN HOST: CBS is drawing severe criticism over its controversial decision to suddenly pull a "60-Minutes" segment last night about Venezuelan deportees who were sent by the Trump administration to a notorious mega-prison in El Salvador. The segment, which had already been publicized by the network, was supposed to air last night, but then CBS editor-in-chief Bari Weiss popped in, shelving the segment just hours before it was set to air. Sources tell CNN the issue is, in fact, so contentious, staffers were threatening to quit.
CNN also obtained a copy of the scathing internal memo from Sharyn Alfonsi. She's the "60 Minutes" correspondent who reported the story, and in that e-mail, she accuses the network of being political and also accuses it of corporate censorship. CBS has pushed back, saying the segment was, in its words, not ready.
Sources tell CNN Weiss was concerned about the lack of a Trump administration response. It's important to note, though, in Alfonsi's memo, she is clear. She requested responses to questions and or interviews with DHS, the White House, and the State Department, but received no response.
Joining me now, veteran journalist, former CBS News anchor and correspondent Harry Smith. It is good to see you, my friend. Off the top, Harry, I'm just curious, your reaction when you see the way that this played out.
What does that tell you about the state of affairs at CBS?
HARRY SMITH, FORMER CBS NEWS ANCHOR: Well, it's an eternal messy business, isn't it? And it feels to me like, just to be honest, so this story is well-published, everybody knows this is coming. And if you're Bari Weiss and you let this linger until the last minute to say, now I'm going to say, don't put this on the air, as opposed to saying a week ago, unless you have X, Y, Z in the story, you shouldn't run it.
There's some real -- there's a real problem there, I think, to begin with.
[15:35:00] But I think people should know as they're viewing this, our conversation, the painstaking process of producing a magazine piece, all the pieces of the puzzle that have to be put together, that have to be vetted, the interviews that have to be clear, making sure that everything that you put in that piece is as close to possibly being embedded to it fairly well, let's just put it that way. So that this piece has already gone through a process of approval, through standards and everything else, and gets all the way to the finish line to be pulled just hours before the program gets on the air, which is not a good look for anybody.
HILL: It's not a good look, and it does raise a lot of questions. I thought it was notable, too, that Bari Weiss was saying what she wants, she said reportedly in an editorial meeting this morning, she's interested in running a newsroom in which we're able to have contentious disagreements about the thorniest editorial matters within her words, respect, and crucially, when we assume the best intent of our colleagues, saying anything else is absolutely unacceptable.
And yet Sharyn Alfonsi, in her e-mail, she said that both she and her producer asked for a call to discuss the decision, but in Sharyn's words, quote, she -- being Bari Weiss -- did not afford us that courtesy or opportunity. To your point about how carefully things are vetted, there also needs to be open lines -- there needs to be open lines of communication between the bosses and the correspondents. It doesn't sound like that's happening either, which is concerning in terms of the future of journalism.
SMITH: Well, and especially for my days at CBS, voices would be raised and arguments could be heated and they could last for some time. But at the end of the day, everybody was working for a common goal. So that's what I'm curious about here, especially hearing what you just had to say.
If there really is a common goal in mind, and especially if you look at it through the prism of the president's criticism of "60 Minutes", just from the Marjorie Taylor Greene segment that aired a week or so ago and saying that the people who own CBS now, who own Paramount, the Ellisons, are no better than the people who owned it before. So where does the pressure come from and what is Bari Weiss's actual responsibility? Who does who does she need to please and what does she need to please?
And if that's not journalism as the number one answer, then there really is a problem at CBS.
HILL: Have you been in touch with former colleagues today?
SMITH: No, no, not so much, not -- I'm not in the -- I'm not -- I'm not in any old friend group or I'm not.
HILL: No group chats happening?
SMITH: I'm not on social media. I'm not. No, none of that. Sorry about that. HILL: But you are. So you you recently taught a course at your alma mater, Central College, in Iowa, and this was a course, not about journalism, but it was about curiosity. It was about resilience. It was about courage.
If you were teaching in this moment and using this CBS story in your class, what would the lessons be?
SMITH: Well, this is a serious time for journalism in the United States. That's the -- that's maybe the most important thing. And think about what's happened at CBS just in this last year.
You had Bill Owens resigning in protest to say, we're not supposed to be run by somebody else's opinion and -- or by the biases that are some people are trying to press upon us. And so and there are other others resigned, too, and he said, don't quit.
And so I think you're getting a response from the folks at "60 Minutes" that say we're standing by our guns. We're professionals. We know what we do.
We know -- we know who we serve. It's very interesting to me about "60 Minutes", while it remains a well-regarded show and well, a well- watched show. And there are a lot of people who are right of center who watch this show.
They still have that. Well, there's been so much -- so much propaganda pushed up so many people in this country about why the lie in the media is lying and not to be trusted.
People still trust this show and the people who know what the people who run that show know what they're doing. And this is a moment in time, especially for viewers in America and people in America to really listen well and listen hard at what's coming at them from every direction.
HILL: It's an important note and certainly something that Sharyn Alfonso noted, saying if the administration's refusal to participate becomes a valid reason to spike a story, we've effectively handed them a kill switch for any reporting they find inconvenient.
Harry Smith, I always appreciate talking to you, my friend, but I especially appreciate your insight as well. Thank you.
SMITH: Good to see you.
[15:40:00]
HILL: Up next here, evacuations underway now on the West Coast as heavy rain is triggering deadly -- a deadly flooding emergency and there is more extreme weather on the way.
(COMMERCIAL BREAK)
HILL: Millions of people in California are bracing for another round of rain. And this, of course, comes after strong storms have already been moving across the northern part of the state.
And you can see what is coming along with those storms. Drivers stranded, roads washed out, flash floods.
BRIANNA KEILAR, CNN HOST: Yes, officials saying at least one person has died when floodwaters inundated the city of Redding, California. Now, much of the state is under a flood watch. CNN meteorologist Derek Van Dam is tracking the storms and has the latest.
DEREK VAN DAM, CNN METEOROLOGIST: New information into CNN. The Weather Prediction Center has just upped the ante on the incoming atmospheric rivers set to impact Southern California this Christmas Eve. They have raised the excessive rainfall alert to a level four of four.
That is a high risk and is extremely rare. I'll explain why in just one moment.
[15:45:00]
But zooming into this region, you can see it's the greater Los Angeles area, specifically across the east and west facing transverse mountain region. So this mountain range that sits just north of Los Angeles really will help wring out all the available moisture to this region. The potential here for excessive rain leading to flash flooding.
Not to mention the burn scars from the recent wildfires that could add potential for mudslides, rockslides and landslides. Listen, high risk days are a big deal. They're only issued about four percent of the time, but they account for a third of all flood related fatalities and up to four fifths of flood related damages.
So this is a significant deal. And we've already seen what was not a high risk day. But from this recent atmospheric river event, bringing this flooding you see here in Redding, California.
So this is across the northern part of the state. What's going to happen is we're going to see the moisture fluctuate further south as we go forward in time. We've already accumulated over a foot of rain in some locations.
So this gives you an indication of what's potentially to come. And so does this map as well. The flood alerts are inclusive of the border of Mexico and the U.S., as well as as far east as Las Vegas and western sections of Arizona. This moisture plume or a river in the sky will direct itself on Southern California. And because of that perpendicular motion, it will wring out all the moisture into the mountain ranges here. And of course, that water has to flow down into the valleys and to the coastal areas where you and I happen to live.
So snow will be measured in feet across the Sierra Nevada mountain ranges. But the rain measured in several inches across Southern California. The flood threat is real.
Now is the time to prepare. Back to you.
KEILAR: All right, Derek, thank you for that.
Up next, tariff chaos, market madness and customer boycotts. We're breaking down the biggest business stories of 2025, the number one spot making history.
[15:50:00]
(COMMERCIAL BREAK)
KEILAR: From President Trump's trade war rattling global markets to the "Oracle of Omaha" stepping down after 60 years, it was a historic year in the world of business.
HILL: Vanessa Yurkevich has the top 10 business stories now that defined 2025.
(BEGIN VIDEOTAPE)
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: Trump's trade war sends shockwaves across global markets. Two popular companies make changes that court controversy, while another is facing its own challenges as its CEO goes DOGE. And the "Oracle of Omaha" takes his final bow. These are the top business stories of 2025.
YURKEVICH (voice-over): Number ten, Warren Buffett retires. In May, a surprising announcement from America's most admired CEO.
WARREN BUFFETT: The time has arrived where Greg should become the chief executive officer.
YURKEVICH (voice-over): Buffett is stepping down after more than 60 years at the helm of Berkshire Hathaway. The famed investor is a towering figure in American finance. Now 95, Buffett said no magic moment sparked the decision.
Number nine, a corporate facelift becomes an about face.
UNIDENTIFIED MALE: I don't like it. I wish that they would keep it the way that it is.
YURKEVICH (voice-over): A new logo was a no go for Cracker Barrel. It quickly backpedaled in August after online backlash, even from the Oval Office, expressing outrage at the updated look. The company also canceled restaurant remodels, part of a turnaround plan for the struggling brand.
Number eight, Target tanks. It was a walk back of a different kind that put Target in the crosshairs after a rollback of so-called DEI initiatives in January.
REV. JAMAL H. BRYANT, LEADING TARGET BOYCOTT OVER DEI POLICY BACKLASH: It would be less expensive and less cost if they would just do right by humanity.
UNIDENTIFIED MALE: Allow them to see our power. YURKEVICH (voice-over): Foot traffic fell nine percent year over year in the next month due to a consumer boycott. Another dent to earnings amid slumping sales and tariff pressure. The company still hasn't recovered, and CEO Brian Cornell is stepping down after 11 years on the job.
YURKEVICH: Number seven, Elon goes DOGE. It's been a tumultuous year for Tesla too. Elon Musk's company suffering slumping sales, stock price volatility --
CROWD: Elon Musk has got to go.
YURKEVICH: Protests, and at times even vandalism.
CROWD: Deport Musk.
YURKEVICH (voice-over): Consumer backlash was aimed at Musk's work with President Donald Trump's administration as part of the Department of Government Efficiency.
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: You can't be penalized for being a patriot. And he's a great patriot.
YURKEVICH: Musk stepped away from the government in May, but despite a rocky year, this fall --
UNIDENTIFIED MALE: With over 75 percent voting in favor --
YURKEVICH (voice-over): Tesla shareholders showed a vote of confidence in the CEO, awarding him the biggest pay package in corporate history.
ELON MUSK, CEO, TESLA: If there's something incredible that's done, that compensation should match, that something incredible was done.
YURKEVICH (voice-over): That puts Elon Musk in the express lane to potentially become the world's first trillionaire.
Number six, sticky inflation.
TRUMP: Prices are coming down very substantially on groceries and things.
YURKEVICH (voice-over): Despite what the president says, and despite being a major factor in last year's election, inflation is still above two percent.
UNIDENTIFIED MALE: With tariffs and all the things that are happening, there's a rise in costs.
YURKEVICH (voice-over): Consumer sentiment is near record lows as Americans struggle with affordability.
YURKEVICH: Number five, the K-shaped economy or America's uneven recovery.
[15:55:00] UNIDENTIFIED MALE: If you're the top of the K, you're pretty wealthy and you're doing pretty good right now. Stocks are near an all-time high, and that's padding your bottom line. But if you're making less than $100,000, you're not in that category. Inflation is really taking a bite and you're making some very difficult financial decisions right now.
YURKEVICH: Higher earners are weathering higher prices by trading down in where they shop, like Walmart. That's propping up spending, while lower income Americans are pulling back.
YURKEVICH (voice-over): Number four, a shaky job market.
MATT EGAN, CNN SENIOR BUSINESS REPORTER: You can see how bumpy the ride has gotten recently. In fact, we now know that out of three -- three out of the last six months the economy has lost jobs.
YURKEVICH (voice-over): The job market is slowing. June, August and October saw the first losses since the pandemic.
UNIDENTIFIED MALE: Uncertainty really is the theme for 2025. It's been a big driver for why the economy has slowed down over the course of the year. And it is probably the blocker that is going to prevent hiring from picking up through the rest of the year.
YURKEVICH (voice-over): Trump blamed the worse than expected job market on the commissioner of the Bureau of Labor Statistics firing her in August.
TRUMP: We had no confidence. I mean the numbers were ridiculous.
YURKEVICH: He accused her, without evidence, of manipulating the monthly jobs reports for, quote, political purposes.
Number three, the Fed acts.
BRIANNA KEILAR, CNN CORRESPONDENT: We begin with our major breaking economic news. The Federal Reserve announcing its decision on whether to make its first interest rate cut this year. And it's happening after months of pressure from President Trump.
YURKEVICH (voice-over): Despite months of threats and taunts from President Trump, the Federal Reserve made the first of three rate cuts in September. The Fed held rates steady for nine straight months to assess how President Trump's tariff policy would impact jobs and inflation.
EGAN: And it does lower Fed rates to the lowest level in three years.
YURKEVICH: Interest rates affect what Americans pay for mortgages and other loans.
Number two, Wall Street's roller coaster. Over a single year, the major U.S. indices lost nearly 20 percent in market value in the spring, then gained it back a few months later.
UNIDENTIFIED FEMALE: Stocks in a freefall on President Trump's decision to further escalate his trade war.
JAKE TAPPER, CNN ANCHOR: Wall Street closed last hour with the Dow above 48,000 for the very first time.
YURKEVICH (voice-over): The market madness driven by the president's on and off tariff policy.
UNIDENTIFIED MALE: A lot of much bigger things are going on, namely AI.
YURKEVICH: A.I. is fueling a technology boom and a boom on trading floors led by Nvidia, whose market cap is approaching $5 trillion. But AI's meteoric rise is fueling concerns of a bubble burst on the horizon.
And number one, the launch of a historic trade war.
TRUMP: This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence.
YURKEVICH (voice-over): With a signature on April 2nd, the United States entered a new era of trade policy, announcing steep tariffs on allies and enemies alike.
JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: The president declared a national economic emergency, and that allows him to really launch what many see as an escalating trade war. This is an historic move.
YURKEVICH: That historic move moving markets, sending countries scrambling for new trade deals with the U.S. and stoking concerns for business owners and customers.
UNIDENTIFIED FEMALE: As a business owner, you always have uncertainty. But these are -- these are things we didn't plan for.
YURKEVICH: But the U.S. Supreme Court is getting ready to rule on whether Trump's tariffs are legal, a precedent-setting ruling.
EGAN: The president clearly thinks that the stakes here are massive. He put up on Truth Social yesterday a post in which he said that this case presents "literally, life or death for country."
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: Vanessa Yurkevich, CNN, NEW York.
(END VIDEOTAPE)
KEILAR: Our thanks to Vanessa for that.
HILL: And to you and Boris, because you guys were part of it.
KEILAR: No, we made it in there.
HILL: It's very exciting. OK, so power outages, not so fun, especially for the Waymo driverless cars. Turns out they don't do so well in a power outage. The one in San Francisco over the weekend causing massive gridlock.
And part of that gridlock caused by the Waymo cars, like this one, just stopped in the street because the traffic lights weren't working.
KEILAR: Yes, so you know who also hates power outages? Anyone stuck behind a Waymo at an intersection. Waymo suspended its services as a result of the blackout.
The power's mostly back on. PG&E saying a substation fire caused that problem. Mind you, Waymo was already on thin ice in San Francisco because of that beloved bodega cat, Kit Kat, who was killed by a Waymo car.
On the upside here, the stopped Waymos are cat-friendly.
[16:00:00]
HILL: Yes, yes, that is a great point. Not traffic-friendly --
KEILAR: No.
HILL: -- but cat-friendly.
KEILAR: That's right. No bodega cats.
HILL: So for at least a short time, the cats were safe in San Francisco.
KEILAR: Yes, Kit Kat's friends could breathe a sigh of relief.
HILL: Poor Kit Kat.
KEILAR: Poor Kit Kat.
"THE ARENA" with Kasie Hunt starts right now.
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