representing dr. david dao and his family as well as dr. david dao's daughter, crystal dao pepper. they are expected to take the podium behind me in a couple minutes. what's interesting here is not only not what they can tell us about what legal action the family has already initiated or is considering but also from crystal dao pepper some update regarding the condition of dr. david dao. remember, he was taken to the hospital. our last update we had was he was in the hospital as of yesterday morning. is that still the case? is he out of the hospital? what comments, if any, can they share with us in terms of his thoughts about what's happened in the last week. we're going to have the attorneys holding this press conference in a couple minutes. interesting to see what kind of update they give us in terms of legally what happens next for dr. david dao and his family. >> phil, there's been a lot of debate over the past 24 hours after munoz went on abc news and

gave that interview about whether his comments opened the airline to more legal liability or not. how is that being received? >> move out of the way here. now we have dr. dao's daughter coming in along with the two attorneys. they're going to go up here in front of the reporters. carl, i think everybody realizes that for united, they're going to have to reassess everything not only legally but in terms of their procedures and they've already promised that. there you see dr. dao's daughter sitting down as well as one of the attorneys representing him. and we expect this to begin momentarily so i'll let them begin talking, and we'll go from there. >> we'll tap dance just for a couple minutes. we did talk to bob crandall earlier and made broad comments about overbooking policy. let's listen to this press

conference. >> good morning, ladies and gentlemen. my name is tom. this is steve. and this is crystal pepper at the end. steve and i have the honor and responsibility to represent dr. dao and crystal is one of dr. dao's five children. i'm going to say a few words. crystal is going to say a few words, and then we'll open it up to any questions you might have. i would ask only that if you do ask a question, you state your name and your affiliation. so we're gathered here because of a rather disturbing video

that went viral as things do in our world today. the media inquiries of us has been quite amazing, which is why we thought this might be the best way to go about answering your various questions mr. munoz has taken to the airwaves and has given his view of things. a couple versions of it. and i thought it might be a good idea to put this video in the perspective of my world of law. here's the law. real simple. if you're going to eject a passenger, under no circumstances can it be done

with unreasonable force or violence. that's the law. if unreasonable force and violence is used under a set of circumstances, the common carrier, united airlines in this case, is responsible. for each of us in this room as we bump along in a day-to-day fashion, we owe each other an ordinary care standard. i'm not to be careless and hurt you. i'm not to be negligent and hurt you. but in the world of common carriers, they have the highest duty of care to provide protection and safety to its fare paying passengers.

as we all saw on the video, that was not done. that was not done in this case. and i would defy anyone to suggest that there was not unreasonable force and violence used to help dr. dao disembark that plane. so the laws are there for the protection of each of us. what's been extraordinary in just these few days since the event has been that the calls i have received from passengers, from employees of united, former employees of united, with

respect to what we all saw, and the fact of the matter is, i have concluded the following. that for a long time, airlines, united in particular, have bullied us. they have treated us less than maybe we deserve. i conclude that based upon hundreds, literally hundreds, of tales of woe of mistreatment by united is that here's what we want as a society. we want fairness in how people treat us. we want respect, and we want

dignity. that's it. not a big deal. this seems so simple. forget the law for a minute that requires common decency in the treatment of passengers. but just treat us with respect. make us feel like you really care. and i must say, i don't believe it's limit ed to the airline industry. i think corporate america needs to understand that we all want to be treated in the same manner with the same respect and the same dignity that they would treat their own family members. if they do that, wouldn't it be great? so will there be a lawsuit? yeah, probably. as you may know, we have taken a step monday there's a hearing at

10:00 in our local courthouse here in chicago to protect and preserve certain evidence we're going to need down the line. it's just not a matter of throwing the video up and asking the jury, okay, who wins? it's a process. but dr. dao, to his great credit, has come to understand that he's the guy. he's the guy to stand up for passengers going forward. yesterday mr. munoz gave an interview on national television, and he was asked pointblank did dr. dao do

anything wrong? you know what he did? he hesitated. he hesitated. maybe he thought, whoa, where did that question come from? but then he regrouped, and he said no. he did nothing wrong. no one should have been treated the way he was treated. stating the obvious. he didn't state it initially. initially he backed up his people. and that may be a big part of the problem, the cult uure. it's us against them. we're them and this lawsuit, among other things hopefully, will create not just national discussion but international

discussion on how we're going to be treated going forward. whether it's a matter of overbooking, and i think perhaps that's what's going on, but if i understand what occurred last sunday here in chicago, it wasn't even a matter of overbooking. it was a matter of the last moment four employees had to get to louisville so they could go to work the next day on various flights. so we have to figure out -- united has to figure out, the airline industry has to figure out, what do we do? we take money from people. we let them sit on the airplane. seat belted. are we really going to just

start taking them off then? is that what we want as a society? or maybe we keep some seats open for that emergency when a pilot or co-pilot, a flight attendant has to get to a destination unexpectedly. maybe airlines need to start expecting the unexpected. but not at the expense and certainly not at the physical expense of its paying passengers. so our role, steve, myself, going forward will be to just get the facts and to get them out and we're going to be vocal about the whole subject of what we, as a society, say passengers

are entitled to. are we going to just continue to be treated like cattle, bullied, rude treatment? we all have enough -- i don't know, angst, for flying as it is. a lot of stuff out there. but don't treat the people who helped make you the corporate entity you are like dr. dao was treated. i'm going to ask crystal to -- she wanted to address you. make any statement and then if i haven't been clear or you have

further questions, i'm happy to answer them. okay. crystal. >> on behalf of my dad and my entire family, we would like to express our gratitude for the huge outpouring of prayers, love, and concern that we have received from all over the world these past few days. we would also like to thank the physicians, the nurses, and all of the hospital staff that has taken care of my dad. it has been a very difficult time for our entire family, especially my dad, and we are truly grateful for your support. what happened to my dad should have never happened to any human being regardless of the

circumstance. we were horrified and shocked and sickened to learn what had happened to him and to see what had happened to him. we hope that in the future nothing like this happens again. thank you so much again for your support. >> okay. yes, sir. >> reporter: there was talk early on that mr. dao was perhaps -- [ inaudible question ] >> i personally do not. i do not think this is a matter of race at all. i'll share with you an e-mail i got actually late last night from -- actually sounds like an irishman to me on paper, who

suggested that dr. dao was the modern day asian rosa parks. i don't think that's the case at all. i think what happened to dr. dao could have happened to any one of us. yes, sir, in the green tie. can you state your name. >> cbs news. when you saw this video, can you tell us what you were feel iing? take us through the emotion of what you were feeling as you saw the video as it was replayed and can you give us an update on how your father is doing. >> can you do that? feel free, crystal, if you don't want to, don't. >> like i said earlier, we were completely horrified and shocked at what had happened to my father when we learned of the

incident. seeing it on video made those emotions exacerbated. my dad is healing right now. and that's all i have to say about that. >> is he still in the hospital? >> i can tell you that he was discharged late last night. that he did, in fact, suffer a significant concussion as a result of disembarking that plane and i can also tell you that he had a serious broken nose, injury to the sinuses, and he is going to be undergoing shortly reconstructive surgery in that regard.

there have been a lot of inquires did he lose any teeth? yeah, he lost two front teeth. concussions are sort of an iffy condition. i don't know, you know, ultimately long-term hopefully there will not be any significant repercussions because of that, but he is shaken. yes, sir. yes, sir. >> reporter: yesterday oscar munoz of united said in his interview that he and his people have reached out to dr. dao but have had no luck. have either of you gentlemen heard from united and spoken directly with munoz or his people or the family? >> the answer is no. >> i have not heard anything

either and to the best of my knowledge -- i have not heard from united either, and i asked crystal this morning whether or not her family had a voice message or something and the answer is no. >> yes, ma'am. [ inaudible question ] >> my parents integrated from vietnam. >> yes, sir. >> i wonder could you talk a little bit -- a lot of us were wondering what was going through your father's mind when he was holding onto a post and saying just kill me, just kill me. can you talk about -- can you

talk about his mental state and what he was trying to express there? >> i think i can, if you don't mind, only because i asked him that question. here's what he told me. he said that he left vietnam in 1975 when saigon fell, and he was on a boat, and he said he was terrified. he said that being dragged down the aisle was more horrifying and harrowing than what he experienced in leaving vietnam. that was his response to me. so i give it to you. yes, sir. you are? >> the chicago department of

aviation officers are not united employees. what is united's responsibility for their action? >> real simple, the airplane is under the control of the pilot. the pilot controls everything. he's the boss. he's actually the captain of the ship. and so mr. munoz smartly, i think, said we goofed up. united. we goofed up. it's our responsibility because under the law, the captain of the ship, united airlines in this case, is responsible for what occurs on that. should this forceful violent, my word, exercise of police power have been allowed once it was viewed and seen by the flight crew to continue? no. shouldn't have.

so were these three officers, these stormtroopers for a moment, doing the right thing? no. not at all. this was not -- this was not a trouble troubled passenger. this was not a nut job. this was not a threat to anybody. should he have been dragged out of that plane the way he was? he's a 69-year-old man. is that really the way we want to treat the aged? >> does the city of chicago bear any responsibility for the officers' actions? >> yes. they are employees of the city of chicago. the city of chicago is -- yeah. just because united is responsible doesn't mean the city of chicago isn't also responsible.

that will all be sorted out. more than one can be responsible for a single event. in this case, i believe that's the case. >> do you know anything about the officers use of force training? is that one of the things you'll be looking at because it seems like there are several incide t that gentleman out of had is se. >> people have asked why don't you just sue? why are we fooling around here? we're not ready to sue. we're doing our due diligence. when we file our lawsuit it's going to be because every word and preposition is in there. we have been getting calls from those from the aviation department who trained these

officers and nothing, nothing in the training, i submit as it will be proven says in a nonconfrontational situation where the other passengers are in jeopardy should this type of conduct ever be utilized or force utilized. there you go. >> do you view this situation as an isolated incident or you have heard from other united employees? do you look at this oiairline o having a culture of disrespecting customers? >> that's a different question. there is clearly, clearly, i have learned enough from people out there that contacted us, i would say there's a culture of disrespect, of rudeness, but what's unfortunately occurred

here in dr. dao's case is rudeness, bullying customers, has gone the next step now. to physical injury. i don't know if it's society as a whole that everyone is angry but this is a doctor who was originally asked to buy a voucher svouch er, get a ticket, whatever, he said i have a practice. i have to work tomorrow and treat patients, which is true. so he was singled out maybe for reasons we'll find out in this discovery process of the lawsuit, but i don't know what

they are. i already answered what i believe they aren't, but the fact of the matter is there are a lot of angry people out there. united customers. united employees. so it's something that mr. mun omunoz and his people need to look at because the public relations problems they have aren't just limited to this video. yes, ma'am? >> many people learned about your father and saw this video, what do you want people to know about your father, who he is, and not just the few seconds of him that you see. >> thank you for your question. my dad is a wonderful father. he has raised, with my father, five great children who have gone on to do great things and

will continue to do great things. he is a loving grandfather. and at the end of the day that is the person who we are trying to protect and take care of. thank you. >> as my immediate family and my husband and children are here in chicago, we're deeply affected by it. our lives have been interrupted and our normalcy is not where it was on sunday morning. furthermore, my siblings who all have thriving careers and are in graduate schools, their lives have been interrupted. as some of you may know, they're in the health care field and

they are trying their best -- >> a press conference there in chicago that sounds a lot like an opening argument in a lawsuit, which is probably forthcoming. laying blame for that episode on sunday firmly at the feet of united saying that the carrier has responsibility to protect passengers from the use of unreasonable force. put it into larger framework saying it's not a one off, that it fits into larger culture of disrespect at united and talk even more about american consumer businesses and how they're being disrespected. >> the other thing to come out of that, which was news, he gave an update on dr. dao's condition. said he was discharged from the hospital. lost a few front teeth and is going to undergo reconstructive surgery for a broken nose, had a concussion and even suggested and hopes that there's not going to be long-term damage from the concussion. he also talked a little bit for the investor take watching united stock on this lawsuit,

what we can expect. he said they're doing their due diligence right now making sure every word and every preposition will be where it should be. >> framing this in terms of this is a lawsuit for everyone. it's about everyone who flies and not just about dr. dao. he even seemed to push beyond people who fly talking about our culture and just how the treatment is that we owe each other even more so in the case of being on a common carrier on a plane. you know, this erases all questions of whether the intent is to file a lawsuit. also notable that both the attorneys and the family of dr. dao said that no one from united, including ceo oscar munoz had yet contacted the family. there certainly will be questions about that given that mr. munoz said yesterday that that was his intent.

>> united shares largely unchanged. with all of this attention i'm thinking chipotle and wells and volkswagen didn't have press conferences like this covered as widely as this one is being covered. maybe a settlement is in the offing. we'll find out. >> there's that issue and broken consumer trust and whether there's any lasting impact. we'll talk to phil who is inside that room when he gets out of there. that has to be the concern. i know you guys followed that stock plunge of united and recovery yesterday. today sort of unchanged. unclear what the actual business ramifications are going to be from something like this. it has held our attention for four days now. >> ironically they didn't raise the price above $800 to get off the plane. the price to get off the lawsuit is going to be a lot higher than that i would imagine. >> dow is up seven points. when the we come back, busiest week of the year for ipos. ceo of one of today's debuts will join us and apple working on a breakthrough for diabetes

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call for a free quote today. liberty stands with you™. liberty mutual insurance. iraqi federal police forces pitching battles in western mosul today. a police officer says the battle was proving difficult. the u.n. says destruction from the iraqi operation in western

mosul was 2 1/2 times greater than it was in eastern mosul. paris police say a bomb hit the building housing french far right president le pen's headquarters. no one was injured and the blaze was quickly put out. north korean state immediate y -- media reporting that kim jong-un met with military officials the date and location not revealed. nearly every american spent money at walmart last year. data says some 95% of consumers shopped at a walmart store or on its website. 89% made a purchase from mcdonald's followed by target at 84%. let's get back over to "squawk alley." >> thank you, courtney. and now yext is open for trading. take a look at the stock. trading up 25% plus.

the company allows business to gather knowledge about people, places and products and manage that information in the cloud, offer it to search engines, to maps, et cetera. this coming on the busiest week for ipos this year. howard is a ceo and co-founder of yext and 2014 cnbc disruptor 50 member. welcome. congratulations. you are co-founder of confide. we often have john on the program and three other different startups that you started. this is the first one to go public. tell me why yext is important in this era when we get siri, alexa, going out trying to search the internet for information about businesses. >> today is an incredible day for yext. we're public. we're listed on the new york stock exchange. we have an outstanding set of long-term investors who believe in our vision and best of all, we have an enormous tail wind

behind us. when users look for things today, if they were to ask, siri, where is the nearest mcdonald's? >> okay. >> there's no web results here. she just tells you the answer directly. the yext knowledge engine lets our customers manage digital knowledge in the cloud and sync it to over 150 end points like sire siri and google maps. >> you're paid right in the front door. why is that? you spend a lot on sales and marketing. at what point model-wise does that balance out? >> we're a subscription based company. we charge companies to use our knowledge engine and they pay us per year per entity. this is a winner take all market. the opportunity for digital knowledge management, which is the category that we're the pioneer in, is really, really

big. there's over 100 million locations in google maps and that doesn't even include products and people. if you take an average price of $100 a year per location or entity, that's a $10 billion total addressable market just right there alone. so we want to win in this winner take all market so we're investing heavily to be the category leader. >> john mentions your prowess and startups. goldman has a chart looking at the amount of money, 120 billion, that's not been assigned to startups yet. i just wonder what is the secret to unlocking some of that, if you're trying to start a business? >> well, you know, you always have to have a great idea and you always have to be able to make it happen. it's the intersection of ideas and execution that makes things happen. >> so back to your idea for a moment, help us understand for those of us not familiar, siri

or snapchat, friend or foe? >> partners of ours. >> they're your clients? >> so we partner with instagram and google maps. when a company like mcdonald's goes to change an item on their menu or to add a new location, they can enter that information into the yext knowledge engine and it instantly and automatically updates that information in google maps and in apple maps and in siri and in cou facebook and instagram and a hundred other digital services around the world in 100 different languages. >> in a world of giants on the internet, all competing at each other, you are a play as an arms dealer for businesses. quite interesting to watch your company go public and again congratulations, howard. >> thank you so much. thank you. >> when we come back, we'll talk to the former ceo of tesla talking infrastructure in silicon valley.

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coming up today, how low can the 10-year go? the danger it poses to the financials and the market at large. what it really means for investors and ross is back talking about the possibility of apple and disney getting together and how that deal would affect the price of both stocks and leadership lessons from one of the most successful men in

the history of sports. bill belichick. all on the halftime report noon eastern top of the hour. we'll see new about 20 minutes. >> thank you, scott. cnbc exclusive. apple employi ining a secret gr working on diabetes. great scoop. tell us a little bit more about the juicy details. >> thank you so much. i've actually been looking into the story for a couple years now after initially getting a tip. i was just able to find enough sources that could confirm it for me. there's a team in palo alto away from the headquarters in to cupertino. they are trying to find a way to

continuously monitor blood sugar. that's something that's never been done before despite decades of efforts from a number of life sciences companies. >> christina, tim cook spoke a couple years back about apple's hesitation getting into the business of making medical devices because of regulation involved in that. they prefer to do consumer devices, do you get the sense that's changing as perhaps the apple watch sales trajectory not what some of the biggest optimists had hoped. is there a sense that apple might be more inclined to make a highly regulated medical device now. >> addi ining blood sugar to a device like the apple watch, that would make it a must have device and not a nice to have device. i can see that being a boom for sales like the apple watch. i believe it's tentative to apple and that may be one of the reasons that we see apple setting up this office in palo alto and not in cupertino

because they want to keep it separate from the bulk of their business focused on consumers and not the regulated medical space. >> christina, this has been talked about and we talk about it being a holy grail of body metrics. a lot of chatter that google was making strides with a contact lens that could do something similar. i wonder if that's competitive or if eventually this is going to dovetail into one product. >> we've absolutely seen google try this as well. now they call it their life sciences arm attempting a contact lens that can do the same thing. noninvasively measure blood glucose on a continuous basis. the difference is that we see alp alphabet partner up with environmental aspect and google brings engineering schools to the table so they are working with alphabet on this.

it's something we could see them working on together. more than likely we'll see partnerships between the tech companies and life science partners. >> it's a great story and a trend we'll keep an eye on. thank you for joining us to talk about it. you can read more of her story on cnbc.com. the dow is almost exactly flat. you don't get to say that too often. let's get to rick santelli. >> i like to welcome a very special guest today. peter is especially important today after the president's comments yesterday. thanks for being the guest today, peter. >> thanks, rick. always fun. >> listen, peter, just in a philosophical way, do you think that free markets, fair markets, should ever be used at any form of bartter to accomplish any issue by a politician? how important are free and fair markets in your world? >> in a perfect world we don't want to see that. that's not the world we live in.

politics is deeply involved in the financial system particularly on the interest rate side. >> one of the big topics with president trump's comments on the fed and dollar yesterday was two-fold. one, this is kind of throwing an olive branch to the chinese with regard to dealing with north korea and with regard to currency manipulation and i found it even more disturbing, of course, to talk about liking a low dollar. it's fine that he holds that view. don't you think as a developer he should see how things like bankruptcies end up at the end of that road? >> the lure of easy money has a strong appeal. i think he's lived that. and he's president in the ninth year of an economic expansion and the fed is raising rates and the bull market is the second largest of all time and just his unfortunate luck he's at the

late stage of a cycle and he certainly doesn't want to be president over any downside. in the campaign he talked about big, fat ugly bubble driven by yellen but now that he's president, he doesn't want to preside over the backside of that. >> when it comes to janet yellen, you and i and many others, bill gross, lots of others, have had issues that the fed moved into the gray after the crisis. we can debate that. they stayed at the low interest rate quantitative easing party too long. in hindsight, i think the president's comments are very disturbing regarding not the presence of janet yellen, maybe she's done the best she can do under these circumstances, but wanting rates low and manipulating rates low is not necessarily the kind of outcomes that we should be hoping for. what are your thoughts?ificiall

in the system 250% of gdp including governments, households and nonfinancial corporates, that in itself limits economic growth. that's all low interest rates do. it encourages you to borrow. it disincentive is you to save. if he wants to make america great again, he has to do things differently, not the same method of low interest rates and a weak dollar and hoping that generates faster growth. >> real quickly because we're just about out of time here. real quickly, history doesn't necessarily bear out that weak currency is twhat everyone thinks. japan. your final thought? >> right. when the japanese export volumes today with the yen at about 110 is no different than when the yen was at 75. a weaker currency is not a magic

elixir. it damages your citizens rate that has lower purchasing power and particularly in the u.s. where 70% of the economy's consumer spending, you don't want a weaker currency. >> we're out of time. i could talk about this for another hour. many thinkanks. back to the "squawk alley" gang. >> still to come, he's a former interim ceo of tesla and bringing construction and technology business together in silicon valley together. that's when we return. rodney and his new business.

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welcome back. construction company catera -- michael marks is the acting ceo as well as the former ceo of tesla. welcome to you, michael. you were an early investor in tesla and briefly took over the ceo role when tesla was undergoing some management shakeups. tell me, i want to talk a little bit about that later, but compare the opportunity you see in construction to the opportunity in electric cars that you saw. >> well, thanks for that. it's a pleasure to be here. look, we're doing what silicon valley does best, which is bringing technology into a very large market. in a lot of ways it's similar to tesla.

elon has done a fabulous job by taking on a really big industry and doing it differently. one thing they're doing at tesla that we're also doing is taking the responsibility to do lots of things ourselves. they make their own batteries, they make their own engines and that's what we're doing. we're going to be fully integrated. we are fully integrated and bringing some technology tools that are not common in the industry. >> simplify it for us, what katerra does. it seems like you're taking processes that people are doing over and over again, repeatable supply chains, construction materials, parts of building plans and trying to use technology to streamline that. what am i missing? >> well, that's exactly what we're doing. so, first of all, we've taken on the entire chain, much like they're doing at tesla. so we're the architects, we're the engineers, we're the general contractors, the subcontractors, the materials providers. so to begin with, we take on the

whole project. in addition, we're using computers to help design buildings, we're using computers to design energy systems and smart buildings that we can integrate. we're manufacturing, we're using very sophisticated electronics-style manufacturing techniques and applying that to construction. so it's very similar to what we did in flextron ics when i was running that business. just taking cost out everywhere. >> you were an early investor in tesla. did you hold on to that stock or have you sold it and is that funding what you're doing now at katerra. >> it's not funding what i'm doing at katerra. i was an investor well before the company went public and held on quite some time after it went public but not now. >> no longer. >> no longer. >> tell me, when you see the space constraints in silicon valley and some other places,

the fact that there's not as much building, certainly in residential. i know that's not necessarily where you focus. how can technology solve any of that problem? is efficiency a part of the puzzle to alleviating some of that? >> yes, certainly it is. i think one of the big issues here in the bay area as bad as any place, but it's really all over the world. everybody is moving to the cities and there's not enough affordable housing. so by bringing the techniques we're bringing and taking the cost out and taking time out, we're going to be able to bring residential units, housing, you know, to the market globally for much lower costs. that's a big social problem. we're excited to help solve that one. >> michael, i'm just thinking, i wonder what an hd supply or a home depot could do with this kind of integrated platform. is that in your head to one day make this part of something bigger or build it on your own? >> well, it's a little early to

be having that conversation. right now we're very focused on building the business. we have a huge pipeline of projects. we're going to grow very fast. that's why we were able to get the financing we got. we'll see what the future brings. i believe just build a great company and things play out the way they play out. >> all right. we'll watch you build it. michael marks -- >> thank you. >> the ceo of katerra, thanks for joining us. >> thank you. "squawk alley" will be back after this. time's up, insufficient we're on prenatal care.es. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done.

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. a new partnership for reebok. remember reebok? it's been a while since the brand was cool. as parent company adidas name brand has enjoyed a remarkable turn-around over the last year, the question is can it work its magic to make reebok grow again too. dollar sales of reebok fell 16% in the u.s. last year, putting its market share here less than 1%. it's part of a big, long decline since adidas first ponied up $3.8 billion to buy reebok back in 2005. at that time reebok had 12% u.s. market share. while adidas is looking to spin

off other underperforming brands, like taylormade golf gear, its ceo is focused on turning reebok around. how? it's going retro, just like the adidas brand, relaunching classics from the '80s and the '90s. remember workout, club c, some of those styles, highlighting the old school logos over there. as part of that effort, it's partnering with artists for humanity. a boston based nonprofit that offers entrepreneapprenticeship artists. styles were mass produced and unveiled recently in union square. reebok is hoping they'll appeal to more socially and design-conscious millenial sneakers. we got a chance to see them. they're very cool. it's just one way the brand is reinventing itself. j jon curran says if it works, it could add as much as $200 million from barely being profitable now. if not, it could be another

shrunken consumer brand and acquisition gone wrong. either way, this is a turn-around story to watch for 2017 with the big trend in athleisure. >> you brought us the term retro chic. we'll see if they can do it two times in a row. >> it's working. i suggest you check out these artist for humanity sneakers. cramer is already on board. they're pretty. >> good long weekend to everyone, we'll see you monday. let's get to the half. welcome to "the halftime report." our top trade this hour, rate shock. why the ten-year keeps falling. what it means to the bank trade and your money. with us for the hour today, joe, john and pete and erin brown with ubs o'connor. also with us from chicago today is rick santelli. we begin with the markets. the focus on the banks today given earnings from wells, jpmorgan and citi. it is aix