super fast final call time, carter >> all roads lead to gold. gold and silver. >> tony? >> i think markets are going to keep grinding higher you want tbuo y longer term protection by to q3, put calendars on spy my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i want to make you some money. my job isn't to entertain you, i'm here to teach you. put in context days like today call me at 1-800-743-cnbc. tweet me at jim cramer we are entering one of the most perilous moments for the stock market since covid-19 burst on

the scene. we had the huge selloff down 35% from the highs then the giant bounce back this week, up 19.9% going into today. a real pasting most of it at the end of the dow with the dow slipping 915 pounds, s&p climbing 3.3%. nasdaq falling 3.79% just like yesterday, which had the big whoosh up, this had the whoosh down. we need to figure out what's next either a continuation of the selloff evolving into a retest, where the market goes back into earlier lows or take them out or resting period, setting us up for the next move higher not much in between here what makes the situation so dicey? next friday we get the labor department's non-farm payroll report based on this week's hideous jobless claims number, we could expect a real doosey this market is a tug of war between the bears bracing for a possible depression if we can't

stop covid and the bulls betting on a boom if we do beat it because of the liquidity being injected into the system by the federal reserve and by the $2 trillion build up this afternoon. i don't know who will be right lately i'm a tad more optimistic i've been negative ever since the super bowl we have got through a week with congress passing that 2$2.2 trillion stimulus package. in record time i can't believe they got it through so quickly there's a lot of money in there to help companies make payroll money is on the way to individuals. it should be there in three weeks if we can hold on. this is a messy bill with lots of moving parts but tons of money for small and medium-sized businesses who desperately need it there's a lot for the newly unemployed this was a go big or go home moment congress decided to go big and the federal reserve decided to make it clear they have more bullets in the chamber

if more pipes in the plumbing get clogged. without the rescue package, we were in the risk of falling into depression, which could rival the great one. you have store closures. i think the stimulus takes the depression off the table yes, that was the right thing to do there are still a lot of problems problems that are not solved by the bill according to the "new york times," we have medical equipment shortages in 200 cities we'll talk about the shortages later in the show. that means more illness and death. we need more ventilators for some reason the government has not been able to figure out how to expand manufacturing of them the lack of a firm mandated government shutdown has allowed the virus to spread. i'm skeptical that we'll be able to open for business again on april 12th without national

rules to contain this thing, we'll have a lot of trouble bending this curve and that's what makes the moment so dicey however, there's one hope that i think deserves more attention than it's getting. if somebody can come up with a drug that gets covid-19 patients in and out of the hospital much faster and off the respirators t it could ease the strain on our beleaguered health care system it sounds too good to be true but so many coronavirus drug trials going on now it's hard to keep up. we have sanofi on tonight, that giant french pharmaceutical company. i'm encouraged by the drug they're testing with regeneron, which is a company we like very much not only could it stop the deadly symptoms of the disease but it could prevent people from getting infected you think the market is ready for that if we can get rapid testing up over and over and over, coupled

with inoculation, that's the whole ball game. with a drug that good, we would beat the pandemic and trigger one of the biggest rallies in stock market history but if we fail, i think the market will revisit lows from earlier this week. that's why we need to stay in touch with actual earnings and actual companies, so we see what's worth buying in case things go bad. certainly we would do well if things go good on monday we hear from rh, restoration hardware i think this is one of those companies that will come back after the pamd ndemic is over mccormack reports on tuesday it's a stay-at-home play, because you cook with it it does have a food service business, kind of struggling that's okay. wednesday we get an analyst meeting held by enterprise products partners. perhaps the best of the pipeline, master limited partnerships they are the best house in the worst neighborhood in the market. the stock yields 13% i want to find out if that's sustainable when the oil and gas

industry is collapsing after the close we hear from pvh. this market has not been kind to apparel stocks with the exception of nike, which has a fabulous direct to consumer business so will pvh get mauled stock is already down 64% from the year a total crash. i know it's bad. is it really down 64% bad? i think pvh needs to tell a good story about europe though europe is having a tough time, too. next, how low can a company can walgreens go this stock has fallen to 44 with a 4.2% yield it could bounce, if you own walgreens, i recommend selling the bounce, swap to cvs instead. we own that in my travel trust cvs owns aetna, even if walgreens reporting a good quarter, i don't trust the guidance when i look at walgreens i'm

struck by the fact it had almost no days up in this year. terrible man, that's one of the worst charts ever. also on thursday, the two faces of the stay-at-home economy, carmax reports in the morning. i'm betting this used car chain has nothing good to say about the future the lockdowns are bad for business and keep you at home. don't need to drive to work. we hear from chewy after the close. in a world where you can't get out to shop for pet food, chewy brings it to your door on friday, constellation brands. that could ignite the beer group if they deliver better-than-expected numbers i don't see that happening they sell too much drinks to restaurants. restaurants that are now closed. there are only so right that can go right in you're a hawk in beer or spiked seltzer with the bars closed. it's painful to walk by a closed

restaurant, but it's the best in the industry as i keep saying, it's not a great time we have a chance to turn things around if sanofi or one of these companies can do the right thing and beat this virus. if weget it under control, stimulus gets the economy rolling. if we can't get it under control, the market will go lower still. evan in florida? >> caller: jim, my son called you the booya man since he was a toddler. >> my dad told me viacom owns nickelodeon. what do you say? >> there's no march madness, who knows if we will get football. no one is going to the movies. i have to told you it was one of the most unfortunate stocks i picked this year i do not want you in -- >> the house of pain -- >> stay out of it. don't miss the rest of tonight's show stay with cramer

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. right now drug companies all over the globe are racing to find new ways to fight the chris coronavirus, from treatments to vaccines which brings me to sanofi. last week they mentioned a rheumatoid arthritis drug called kevzara. this fights the lung

inflammation that causes the deadly form of fpneumonia. they're testing a variant against this novel coronavirus, which is a close cousin of sars. today we got a great privilege to speak with paul hudson. take a look. >> people may not know your company. you're the foremost vaccine company in the world, which brings me to the topic of the day, how confident are you that we can ever get a vaccine against this scourge that is decimating the whole world >> well, i'm confident we'll get a vaccine. it may take a little while estimates are between 12 and 18 months i can assure you for one of the leading companies like ourselves, we're doing everything we can to be there as fast as we can >> now, i know that you have a terrific partnership with rejen son. i speak to len schleifer pretty much every day the thing i'm excited about is this kevzara, and the method

that it is using which is novel versus a novel coronavirus how are things going with that trial? >> so, we started the trial, of course we have a very good relationship with regeneron. the medicine was brought forward because of preliminary data elsewhere in the world we hope that we'll bring some relief to the patients in a more severe setting we don't know. we're working with the w.h.o., with the medicines agency and making sure the right trials are done at the right speed so if there is a significant benefit we can get it to patients as fast as possible >> there's been some reports about an old malaria drug that a lot of people have gotten behind, but the test is not acceptable i know it wouldn't be acceptable for a great vaccine company like yours. can you explain what you're

doing with kevzara and the antidotal evidence that the old malaria drug might have in play here >> you asked about the vaccine we have two vaccines in play for covid-19 different mechanisms one a more established mechanism, one a more experimental mechanism it's incumbent upon us to get there as fast as possible in case there's a second wave then you have the medicines we're making every day that patients that need them to continue in their chronic therapies in asthma and a and plaqanil, these are where people in china have said we've seen some effect. we have tried them, we can see some efficacy. working with the w.h.o. we have to quantify that effect and quantify the actual patient profile that will respond best

we don't want patients struggling we know if repurposed medicines can be put to the task to do something incredible, so be it we're making sure they're available for the investigators and making sure the regulators have everything they need. >> it seems your acute drug you just described, the vaccine, it seems like if we're really lucky, it can take care of people who already have the virus in them and then actually stop the virus coming in because of a very -- a brilliant way to head off the virus's most insidious mechanisms >> yeah. i think that ordinarily it takes ten years to invent a vaccine. the main reason is because you will give it to a lot of healthy people on a massive scale. you have to be sure, you have to be right these are unprecedented times. we're experts in this. we're moving as fast as we can and the science will tell us whether we can be in patients

that need vaccination, vants that will patients that will be protected or patients that have the illness, but we need time. we have everybody in the entire organization working 24/7 bringing volunteering spirit to make sure we can do something. >> one of the things that has been downright frightening to people in the medical community is the fact that it turns out that many of the ingredients -- some people say most of the ingredients for drugs, for the actual pills are made in india or china there are 48 pill factories in wuhan in the hubei area that made it so that we were kind of, i'd say, hostage you're doing something about it. this could be a major change in what we do for pharmaceuticals >> yeah. it's an excellent point. i tried to identify the large group that needs the medicines that we were getting long before this and long after. we make many of the ingredients

for our medicines in france, germany, italy, spain. we want to do it right we noticed over the years that china and india were where most of those ingredients were coming from we stated a plan we want to go out and create one of the biggest active pharmaceutical ingredient manufacturers in europe we want toeurope we want to help america and europe to make sure when we're in difficult situations like they, we can maintain supply i visited our distribution center last week with the permission of the french government i needed permission. i went to see our medicines being put together and shipped when i asked the site leader, i said are you working saturdays and sundays to get these essential medicines to people? they said yes. i said do you have any trouble getting volunteers he said no, when i asked, twice the number of hands went up that we needed. there's a real spirit and a very purpose driven mentality in all

companies i'm sure, but i feel it evidently right now in sanofi >> people should know it's possible that americans might be able to participate in a spinoff of a company that i think sounds like a great opportunity, in a year or two year could we see it as a publicly traded company >> i think that's our plan our plan is to say we want to do something in europe that could help europe, the u.s. and beyond that is high quality, that is guaranteed supply and that others can participate in. it's bigger than just sanofi we need to make sure we bring it forward in the right way and i think we have a plan to do that. yeah, it's not too far away. it's another good reason to look at how inventive we can be in sanofi when we went back to our capital markets day in december, we laid out some privatization we said we wanted to win in vaccines, we knew it was important. look where we are now. we said we wanted to win with

dupixin. we said we wanted to pull our pipeline through when we step back, we say one of the things that we're doing that we don't need to be the best in the world at but others can participate in, too. active pharmaceutical ingredient to build a big player to make sure people who need medicines get them it's the least we can do i think it could be a sensible opportunity for investors. >> last thing i want to mention, dupixin is a blood pressure, a huge drug. i want people to know your company -- it's with regeneron, but your company is doing a great job with this. tell people how many varied uses there are of this wonder drug. >> i've been involved in a lot of medicines in my career and i met patients and listened to patients in preparation of becoming chief executive of sanofi i was blown away very few medicines i work with provide life-changing efficacy of patients. return them to normal in many

cases both in atopic dermatitis, asthma, many other indications, but really debilitating life-constraining illnesses. the profile of this medicine means it's safe to take also so we get to a situation where we have an essential medicine growing at a rapid rate. we're there, putting it forward, but the demand is incredible we've set forth an ambition to be in excess of 10 billion euros global sales in a peak year. we didn't do that just because of picking a number randomly we did it because we know only 3% of the patients that were really needing it and had their lives transformed are getting it today. so we know there's a huge opportunity, it's an incredible medicine and our partners, regeneron, great partners, we work very well together to bring it to this point so much more to give to the patients >> i will leave it at that

congratulations for the change in turn, the transformation you're leading at a great drug company, a terrific investment, too. that's paul hudson, ceo of sanofi who is doing so much to actually conquer this disease. thank you very much. and the struggle is real.

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but when allergies attack,f any the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes. allegra. live your life, not your allergies. this pandemic keeps revealing the hidden weaknesses in our economy the one that shocked me, the health of our supply chain, we don't have enough ventilators, enough personal protective equipment that shield doctors and nurses from the virus and we're not doing enough to scale up production. we need to dig down what's going on with america's medical supply chain. tonight we have owens and myinor they distribute medical supplies as well as n95 masks, surgical

masks, gloves and gowns. we need to know how they can fix the medical supply shortage. let's dig deeper with ed pesicka, the president and ceo of owens and minor welcome to "mad money. >> thank you, jim. >> sir, if you could explain to me, i'm sure you feel like i do, we see the pictures, read the articles, we can't believe it's america. we can't believe our health care system with all these fine people are walking around wearing scarves, don't have the right equipment. what's going on, sir >> so, let me put it in perspective. so, customer in new york said he traditionally uses roughly between 10,000 and 20,000 masks per week we are now seeing the influx of demand up to 200,000 to 300,000 masks per week that's one hospital in new york. you take that and multiply that throughout the entire u.s., that's the demand increase we've seen in ppe products now

>> so, if you wanted to start a greenfield plant that made ppe products like this or gowns -- you have them all over the globe -- it would take a very long time, i imagine >> yes so we are already in production. let me share with you what we've already done we started in january ramping up production of ppe. we manufacture our ppe in the americas it's a little bit different than others in the space. what we've done with those facilities, we're running them 24/7 we started in january. by the end of february, we were running four shifts a day and able to increase our production of masks by roughly 40 million to 50 million incremental masks per month. that's a combination of n95 and other masks. we're in the process of expanding capacity, but that will take five, six months to make sure you have the capability to expand that capacity that's the timeframe we're looking at for additional expansion. >> okay. so i have to presume that the

chinese, which were able do a miraculous job, have tons of masks and supplies but at the same time we're not necessarily on a friendly keel with them. do you think it's possible they have got a giant hoard that would help us? >> i don't know if they have a giant hoard or not a lot of manufacturing operations in china shut down for the chinese new year and that shut down beyond that so we're seeing production ramp up it's a matter of time of getting that product and then getting to the u.s. if it is going by boat, you're looking at another 30, 40 days so we're looking at air freight and other methods to get them here >> i'm seeing planes landing here with chinese supplies,

incredible, actual individuals doing this because they can't take the pictures anymore. you have a plant in thailand, surgical gowns in honduras, and face masks in mexico those are all working 24/7, too? >> absolutely. those are our factories. all the fabric is manufacturing in lexington, north carolina we have that running 24/7 also we are running at four shifts, and now we're looking at a fifth shift so we don'tmates out >> are you selling these the mckesson route or are you going right to the government? >> so, our sale goes through our own distribution channel, that being owens & minor and we will distribute to others in the industry that's how they go through and get to the hospitals and/other the clinicians >> i was thinking if you -- we have -- it seems to me the

supply line, the chinese involvement, the supply kleline, it's a little uncoordinated, but who could coordinate this because who would have foreseen such a tragedy developing. >> you have to go back to that antidote i used earlier, going from 10,000 to 20,000 a week to 200,000, 300,000 a week. you multiply that by the health systems. i spent significant times with the ceos of the health care systems. that influx of demand. that demand is not just here in the u.s., it's in other parts of the world, too that global demand has increased exponentially. >> let me talk about your background >> sure. >> the stock is too small for me to recommend when i saw it, i said i have to get behind this. then i saw the market size you're not from owen s & minor, you're from thermo fisher. when you came in, what did you see? and why did you take the job,

you know we're friends with mark >> yep >> we think of the world of thermo fisher since the show started. what attracted you to& minor. >> we had a company that lost their focus. the challenge to jump in there was exciting we changed the focus so the number one thing we're focused on is the customer to do that we had to change our service. we drastically improved our service over the last 9, 10 months we're back to our industry-leading standards from a service and delivery model that was really what we were focusing on over the last year as i said in the past to others. we're so much further ahead than i thought we would have been after being in the job for a year >> okay. so let's say -- do you talk to vice president pence >> i've not talked to him personally we have worked closely with fema, worked with the white house team we worked with hhs we worked closely with that

group. >> can you tell me whether the seams we're seeing -- i have a doctor whose son is literally, no protective gear and trying to save lives i censent him my masks. i think i had to do that if we have masks, they have to go to the front-end people do you think in the next month they'll have enough masks? >> i don't know what -- what point in time or day we'll have enough masks all i know is with the industry, working across the industry with many of our peers we are actively going to produce many masks and as much protective equipment as we possibly can >> i sure hope so. i think that a lot of us feel like that we're looking like we were -- you remember when it was wuhan, we felt how terrible it was. now we're about 45 minutes from a hospital that i know -- i know well that looks like wuhan i'm kind of flabbergasted.

i guess everybody was overrun. >> that's a great way to put it, jim. just that increased demand was just exponential rates compared to what it historically had been at >> i wish you the best of luck i hope your workers stay safe. you do 24/7, maybe the pictures start going away >> thanks, jim around our teammates, we are making sure they're safe we are making sure they have masks, gloves, those that are working, manufacturering the products and distributing them >> fantastic thank you very much. that's ed pesicka, the president and ceo of owens & minor "mad money" is back after the break. the barkins are empty nesters now. so it doesn't make a whole lot of financial sense for them to stay in this great big house.

but, well, this is home. it's where they raised their three boys. could they downsize? sure. will they? not as long as thanksgiving is a holiday. planning for the future is about more than just money. let equitable be your guide. ♪[ siren ] & doug

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at chevy, we promise to do ours. we're offering chevy owners complimentary onstar crisis assist services and wifi data. if you need a new chevy, interest-free financing for 84 months - with deferred payments for 120 days on many of our most popular models. you may even shop online and take delivery at home. it's just our way of doing our part... two days ago we learned the stay-at-home economy was much bigger than anybody realized we found that out from micron. the major semiconductor company that had a surprise quarter when most of us were betting against them we expected them to be hobbled by the pandemic, sure there's some problems but on the conference call they told an incredible story about how all the lockdowns are giving swaths

of tech a huge boost thanks to elevated levels of games, e-commerce, remote work, data center and laptopmakers, the stock surged it's a great story i wanted to bring it from sanjay mehrotra, the ceo of micron. before we get started, not only congratulations for the quarter but congratulations for what you're doing for your employees and your pledge not to lay anybody off and boost salaries during a period where we all know that every one is feeling insecure and worried >> thank you, jim. great to be on your show yes. as you pointed out, our fiscal second quarter, we delivered at the high end of the guidance that we have provided in december when you think about it, that's amazing that half of our quarter we were impacted by expanding coronavirus challenges across the globe. particularly in china the early part of covid outbreak starting

in january yet the micronteam worked with tremendous tenacity overcoming the challenges and delivering a quarter at the high end of the guidance 13th quarter in a row with free cash flow that is really quite impressive for micron. when you look at the last quarter that occurred four years ago versus now, the revenue has increased 65%, as well as gross margins have expanded by 11% those are dramatic transformations taking place at micron thanks to our team, thanks to our technology, products, and of course manufacturing excellence we are very proud of what we have been able to accomplish in these challenging times. >> sanjay -- >> you're correct in these challenging times we focus on our people first and, yes, we have taken steps to really help

them cope with some of the environment. >> i wanted to mention that. i want others to take your challenge to come -- to do what you're doing to stay instead of when things got tough, lay people off, you say things get tough, these people are family, i'll help them it's anew way. different paradigm in america. business is the greatest source for social change. you have adopted now, stronger data center demand really was an amazing part of the micron story that obviously you even say is getting stronger as we go on that's not lessening >> jim, what's happening is that work from home economy is putting tremendous demand on the data center infrastructure you know that data centers require a lot of memory and storage. they are addressing the spike in demand that they're encountering from various institutions, even from law enforcement, from health care, and everybody

getting on to e-commerce, gaming more demand in the data center is driving data demand on memory and storage for micron as well in addition, what we've seen is work from home economy driving demand for laptops, for businesses, having employees work remotely as well as we have seen virtual education driving data demand on the notebook side this increase in demand is offset by weakening smartphone demand in china, we saw in february smartphone demand fell down substantially as the china economy weakened production in china is back on the consumer is starting to buy. that's what our customers are telling us so china is coming back in terms of having contained the spread of the coronavirus but as we know, we have challenges in other parts of the global with the expanding coronavirus situation and that,

we project, will overall result in weakness in the smartphone market micron products are well positioned in the markets, and over the course of the next few months and as we get through the challenging times, you know, micron is well positioned in terms of making adjustments and driving demands, staying close to customers, meeting demand performance. long-term, after we get to the other side of this pandemic, which brings about uncertainty and through challenges in all parts of the business, as we get to the other side of this pandemic over the course of the next few months, then, you know, we do see that the demand trends remains secular in nature. 5g, ai, autonomous, all of this needs more memory and more storage. >> yes >> you certainly have to get through the uncertain and challenging times of the next few quarters really important for all of us to make sure we do our part in

containing this virus, the spread of this virus >> sanjay, i read again yesterday, the president is trying to figure out what huawei should be able to get, the huge company in china from our producers. has that been resolved do we know how much micron's business is allowed to proceed with huawei? is it on hold? >> so what we have shared in our december earnings call was that we have received the licenses from the administration for supplying to certain parts of the huawei business. of course through this period since huawei was placed on the entity listing and restrictions were placed in terms of shipments to huawei, we have not been shipping to anything and we have not asked for licenses related to the telecommunications part of huawei's business. you know they're a large player. huawei is a large player on the mobile phone side and micron

through our licenses that we have received have been supplying product to huawei. we said even in the december earnings call that if, you know, there is any change in this regard that impacts our licenses, that will impact our revenue with huawei. but i would like to point out that it's not just us. it's really actually the entire semiconductor industry, it's a big supplier to huawei and if any actions are taken that limit the ability of the industry to ship to huawei, of course it will impact the semiconductor industry and impact us, too the point here, jim, is our business has also expanded to other customers. huawei is a relatively large customer, still we diversified our business across the globe. >> right >> markets are, of course, from data center to smartphone -- >> you're much bigger than that. >> very well diversified markets. >> thank you great quarter. too bad the market was down badly today.

that's sanjay mehrotra, ceo of micron technology. "mad money" is back after the break. because netsuite shows me all my financials in one place,

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it is time are you ready? let's start with mark in pennsylvania mark >> caller: jim, with the recent market selloff, is it time to add lockheed martin? >> yes, i think they're doing a lot of good inges this i'm going to elias in virginia >> caller: hey, jim. >> elias >> caller: i wanted to get your opinion on united natural foods. >> they finally had a good quarter, tlhere's inside other buy. >> luis in new jersey? >> caller: how are you doing, jim? >> couldn't be better. you? >> caller: good. good what's your opinion on square? >> square is terrific but some of the clients themselves are hurting because they're the small businesses hold off they'll get closer to the money in three weeks, we'll be back

in that's the money coming from the government ray in california? ray? >> caller: hey, jim. big stocks on sale booyah. >> sounds good >> caller: question for you, my friend, what do you think of live nation? >> stay away from it i'm a believer in total separation of everyone you can't separate when you're at a concert you're on top of each other! i don't want to do that! let's go to binal in north carolina >> caller: hi, jim, this is binal from north carolina. big booyah >> booyah back >> caller: thank you for what you do for us. i'm a long-time listener, first-time caller, what's your feeling about international paper. >> i saw mark sutton earlier this week, he told a good story. 6.7% yield, not a lot of growth. i'm okay with that i'm okay with that that's the lightning round ♪

♪

for the past month our leaders in business and politics have been forced to improvise on the fly to cope with the pandemic they're making the kind of decisions that only get made by generals on the battlefield. maybe it makes sense they're going to general force advice. generals like stan mcchrystal, the retired four-star general who served as commander of the u.s. and national security systems forces in afghanistan, before that ran the joint special operations command at the peak of the war on terror. now he's founder of the mcchrystal group which helps organizations be more effective teams. they're helping executives establish crisis response plans and they were hired by the city

of boston to help with their pandemic response. tonight he's here with us to share his expertise and lay out the leadership we need to beat the coronavirus. honor to have you on "mad money. >> my pleasure, jim. >> sir, when i look at what's happening, i think uniquely what's going on is something that a general, a four-star general could do a great job with which is this fight to marshal all these forces it seems so -- it -- it's curious mosaic that seems to be devoid a lot of times of the cohesion you could provide can tell me what general mcchrystal would do if he were running this war against this disease? >> i can tell you what i'm doing right now. i'm really asking myself two questions. what's happening, and what can we do about it when i think about what's happening, we're facing a medical challenge that's frightening, a pandemic, and an economic challenge related to

it but together they're disjoining to everyone. the now there's a temptation for us to say it's a black swan event. nobody could have seen it coming therefore we have an excuse for not being prepared or adapting well i don't think that's right one thing we know about crises -- jim, you lived through some, i spent a lifetime living through them -- they're inevitable they're all a littledifferent, they have a common dna, and the reality is we have to deal with them we'll deal with this one we'll get through it but one of the things i would highlight is in 2003 when i was commanding joint special operations command in iraq, we were actually spread over a number of countries, we ran into a completely different kind of enemy than we expected it was network, viral, a bit like covid-19, it was al qaeda in iraq, and it caused us to change our organization

fundamentally. to change jsok from a lock step traditional organization to one built on the theory of adaptability so what i would say now is what we should be thinking about in our organizations, not just at the national level, but our organizations at every level, we need to think about not dealing with just this crisis, though we'll have to deal with this, but to build our organizations with the fundamental premise that crises will arrive, and therefore we're going to deal with the speed and complexity of modern world by building the ability to respond to crises, not just try to avoid them >> general, i know there's money in this bill that is being signed this afternoon for every single part of the armed forces, whether it's the marines or the air force. what i wish could have happened -- tell me how you did this, when you built a country from nothing

countries that are not -- that are not stable why are we not able to coordinate everything to the point where we have a quart quartermaster who knows we need masks so we don't look like a lesser world country where there's not enough gowns why do we not know -- we know what's going on in new orleans we don't have an advanced party down in new orleans? how come it's not -- how come we're behind every time? >> if you really look at what makes success in any endeavor like this, we have the seven teams. you hit the right word, you said coordinate there's not a lack of capacity in our country to get this done, not a lack of brain power, not a lot of motivation. but there's a tremendous lack of team work. in reality what we're trying to do is get teams together so those entities can work. i think we are -- we've got a long way to go in that regard. >> well, i do think -- i want

people to know your reputation is one of really not being daunted. i feel like sometimes we feel daunted. how did you inspire people to work remotely as a team and not feel like, you know what, we're lo losers you never felt like a loser if you were under your command. >> that's a great point. we had to fight in jsoc distributed with people sometimes alone. we were across 27 countries simultaneously and synchronized ourselves every day. we had to realize when people are alone, they don't have what the germans used to call the feel of the cloth, the feel that you could put your shoulder up against your comrade and know you were together. i think in today's world, particularly in this work from home environment, we have to set up a daily operating rhythm where we communicate to teams with candor and accuracy but with the humility to know we don't know exactly what's going on we can't predict perfectly

at the same time we have to get information from them. imagine you're a new employee in a team you can start to feel alone, out wherever your home or apartment you work in. most of what you used to learn was in the office watching other people or unspoken guidance from your bosses as they walked by or touch you on the shoulder. all of that is harder to do. we need to look at what we came to call as digital leadership. that's the ability to use video teleconference, use it in a way that you can reach out, know peoples names, sort of check their status, but also pass information, contextual understanding to the entire team so they can act with confidence. there's a temptation on the part of leaders in a case like this to centralize, it's a crisis, so bring all the decisions to me. that is absolutely self-defeating we're going to beat this crisis with people using initiative down at local levels

close to the point of action but they have to be empowered with information, inspired with real leadership and we have to give them resources. >> couldn't agree more general mcchrystal, it's an honor to have you on our show. thank you, general stanley mcchrystal, founder and ceo of the mcchrystal group and a four-star. thank you for being on the show. >> thank you, jim. >> "mad money" back after the break. i know that every single time that i suit up, there is a chance that that's the last time. 300 miles an hour, thats where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me that i'm protected.

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"markets in turmoil" hosted by scott wapner starts right now. w tonight, a complete wrap-up. market head winds, the impact of the economic shutdown, business stimulus plans and the race for a drug "markets in turmoil" coming up next on cnbc watch and listen live on the cnbc app good evening once again. i'm scott waugner on day 9 of the coronavirus crisis the u.s. now has 100,000 confirmed cases as the stock market took another big drop on this friday. the market giving back a big chunk of yesterday's gains >> air comes out of the market