tv Squawk on the Street CNBC April 22, 2016 9:00am-9:19am EDT
9:00 am
we shouldn't sweatlife, the small stuff. but when you're building a mercedes-benz, there really is no small stuff. every decision... every component... is an integral part of what makes the 2016 c-class one of our most sophisticated cars ever. because when you're setting a new benchmark for refinement, it is the small stuff... that makes the biggest impression. the 2016 c-class. see your authorized dealer for exceptional offers through mercedes-benz financial services.
9:01 am
we have an open on secure works. for that let's get to jon fortt over at the nasdaq. >> hey, carl. yeah, this stock opened below $14, which is where they were hoping it would open originally the range was $15.50 to $17.50. so going below $14 certainly not ideal. but this is a stock that spun off from dell, which has gone private. it's a stock that has a lot of customers in the financial services business. its largest customer is bank of america. we're going to talk to the ceo not just about the stock price but also about where they go from here. still very closely aligned with dell. still spending a lot on a salesforce trying to grow this business against quite a few competitors in the enterprise space, carl. >> all right. jon, we'll come back to you in a few. jon fortt at the nasdaq. let's go to the cme group and get the rick santelli.
9:02 am
>> rick, always a pleasure, thanks for having me. >> all right. let's go quickly. any thoughts about yesterday's ecb meeting and mario draghi and the outlook and all the issues, whether it's buying corporate securities so they get to pick and choose winners and losers, the notion of, you know, more or longer negative rates? your thoughts. >> rick, i don't think draghi did anything that wasn't expected. i think he pretty much laid it out in march and i didn't see anything yesterday that really changes anything. and, you know, a little bit of volatility in the dollar/euro, but i don't really see where -- things he proposed in march don't kick in until really over the next six, seven weeks. so i don't expect much there. i think the real events are next week with the fed meeting and the bank of japan meeting. >> i got ya. now, you know, on the fed quickly, just to pick one because i could pick a lot, b l bullard flip-flops a lot, latest
9:03 am
is lockhard. april on the table right before we wouldn't support a hike, we hear a lot of this. i don't know, to me it's hard to get your gps when there's so many conflicting microphone entries into the process. your thoughts. >> rick, i've never seen more fed governors go against what the chairman is pretty much outlined. and we're going to go with the chairman here. you know, i've been doing this a long time. you got to listen to -- you got to watch what the fed does and not listen to what they say. i think these governors are way off base. >> wow. sounds like you're describing politics too. i mean, it's kind of the same thing, isn't it? >> yeah, well, you're not going to get me to get into that one. with ten-years going down to the low of the range we were looking at and everyone's talking about the fed is going to start setting next week a tone of which to raise rates, rick, they're not raising in april. they're not raising in june.
9:04 am
they're more concerned about what's going on globally. if you look at the u.s. numbers, sure you have great numbers coming out of initial claims. but, you know, the gdp numbers both the atlanta fed and new york fed stink. the housing stinks. you know, gdp is, what, just fractionally -- >> andy, we're getting close to the end so i'm going to move it along. the markets seem to be ignoring it. fundamentals versus what's going on in the market seems to be completely out of kilter. let's finish up with brexit. with that coming up i think that plays in even to some extent with bank of japan. your thought on brexit with the notion london has unique spot considering who they service kind of important area of the financial services industry. and that part of the world, what is brexit do, what does it mean, how does it turn out? >> i think brexit i think at the end of the day the brits vote in favor of keeping within the union. i think it's smart for them.
9:05 am
they're the financial center, if they want to remain the financial center they don't want it to go to frankfurt or brussels, they better vote for it. i'm not necessarily going to support what obama said today, but i think they should stay in and will stay in. >> all right. we're out of time. we got it all done. thanks, andy. simon hobbs, back to you. thank you very much, rick. ahead on the show, an important decision today that effects cuban americans by the military government forced on them it would appear by carnival. it's ceo next on cnbc. gomery an abigail higgins had... ...a tree that bore the most rare and magical fruit. which provided for their every financial need. and then, in one blinding blink of an eye, their tree had given its last.
9:06 am
9:07 am
great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about.
9:08 am
i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. an historic announcement this morning from the cuban military. a decades long ban preventing people born on the islanddecade' long ban for people on the island including cubans from traveling to and from it by e sea and only by airplane has been lifted. the tlt was from ca-- the threa from carnival in nine days' time if the law had not been changed, and so now, welcome to the program, and was this ever in dou
9:09 am
doubt? because when you put the cruise up for sale, you were excluding cuban americans, weren't you? >> well, simon, first of all, good morning. good to be with you, and this is decades' long practice that was differentiated for air travel in sea for anyone born in cuba or residents of cuba or living in the world. so from day one, when we were e requesting for the ships the go the cuba, we put on the play, that hey, we'd like to bon the level playing field with air cha charters, and so they were positive and encouraging allel along, and in fact, we were pretty confident that it would change, but we just didn't know exactly when. and so we were very appreciative to cuba for making the change and relaxing the practice around sea. they have put it on the level playing field with air charters, and we are excited, and honor and privileged to be the first company in 50 years to cruise to and from cuba and approved by
9:10 am
coo band the united states when required and setting sail may 1st, simon, and we are very excited about it. >> i mean, all of you, you and your rivals have spent hours behind the scenes for a long period of time talking to the cuban military to try to pry open the island, because so many people want to go there and so you have to inevitably be diplomatic about it, and there is a relationship here, but arnold, the fact is that you threatened not to put this ship in the water or set sail in ten days' time unless they changed the rules, and for a ceo of a major public company, that is a quite big step, and so what is going on behind the scenes? >> there is no big drama here. the reality is that the noise that got created actually could have blown up the opportunity to get this done. but it didn't. we were working to get through it. and as i said, things were positive all along and we were very encouraged, and we expected it to be in the position to do this. and the reality for the people
9:11 am
though, and we have a lot love cuban americans, and people born in cuba who are employees our company. we are based in miami, and they have to live in the communities, and as things have became, and emotions, and things became more emotional here in miami, we had to make a decision for the employee base. so there was no threat or anything, but it is simply if they were going to have to delay the decision, which we believed was forth coming, then we would have delayed the cruise, but we don't have to worry about that now, because it is done. we are excited. they are welcoming everyone, and we are looking forward to sailing may 1st, and encourage those who have not booked, book now, because it is historic sailings throughout the year. >> and to be clear here, arnold, it is more about the cuban americans who pay be part of the staff sailing than it is perhaps of the threat of cuban americans to litigate against you if you don't put them aboard the vessel from the u.s. mainland? >> yes. we did not respond or react to
9:12 am
any of that stuff to be honest with you. we were always in dialogue. we knew where we were, and we were confident and as it turned out, the confidence was well placed. we did get a little nervous when the things were noisy that it might disrupt the process, but luckily, we were able to get through that. it is not only for us now, but for all cruise ships and expanding to commercial vessels, and so it is a great day and another step forward. we have made history, but more importantly, we are contributing to a positive future, and that is what we are most honored an privilege and proud of. >> and just on the subject of the cruise. how sold is it? one of our producers went on line today, and there are still twin cabins and balcony cabins that would set you back $9,000 for a one-week cruise. i am told ta is three or four times the normal cost ta you might expect, and what about the pricing and the degree to which you have been able to sell it,
9:13 am
ar fol arnold? >> well, the pricing for that price is a suite, and if you were on a number of the premium vessel vessels which this is. it is a small intimate ship of 704 pas ssengers, and so it a premium ship, and for a suite, that is not super pricey, and that is a very, very nice suite, ocean-view, and very large space area, and very nice area, and so, look, this ship is a premium ship. it is going to the premium area in cuba and the priced comparable or better than if you were going to be doing the air, land hotels, and three ports and seven days and fantastic experience and people will have an incredible time, and make history. >> indeed. first one to go. we are looking forward to it, and our needs are minimal, the producer, and it is a small cub will do for the c nshnbc crew.
9:14 am
>> well, we will take care of you, simon. >> thank you, sir. in the meantime, a little bit of contriving going on at the central bank? >> well, there is some eyebrows being raised here, a sitting member of the central board of governors has been maxing out her contributions to the hillary clinton campaign by lil brainard. you can see she is giving from $250 all of the way up to the february # 1st e donation of $1,950 which puts her at the maximum, and we have been doing research on this that she is the only sitting governor that cnbc could find that has given money to a presidential campaign, and so it seems that you is the federal reserve board here, an entity that prides itself on
9:15 am
political independence, and long running tradition of not giving to presidential campaign, and it informal, and they dole allow the board members to make the contributions, but it is the practice in the past not to do that and we have seen some board of governors to give to local, state and parties, but nothing to the presidential election from a sitting federal reserve member. this is a first, guys. >> and now, including an interview on the ceo coming up on "squawk alley." (patrick 1) what's it like to be the boss of you?
9:16 am
(patrick 2) pretty great. (patrick 1) how about a 10% raise? (patrick 2) how about 20? (patrick 1) how about done? (patrick 2) that's the kind of control i like... ...and that's what they give me at national car rental. i can choose any car in the aisle i want- without having to ask anyone. who better to be the boss of you... (patrick 1)than me. i mean, you...us. (vo) go national. go like a pro. mary buys a little lamb. one of millions of orders on this company's servers. accessible by thousands of suppliers and employees globally. but with cyber threats on the rise, mary's data could be under attack. with the help of the at&t network, a network that senses and mitigates cyber threats, their critical data is safer than ever. giving them the agility to be open & secure. because no one knows & like at&t.
9:18 am
9:19 am
102 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on