forward. connell: steve thanks as always have a great weekend what a friday as we wrap up with some news, thanks for joining us and have a great weekend all of you out there. melissa: absolutely dow up 319 bulls & bears starts right now. david: a trade truce is on, president trump just announcing that china and the united states have come to a very substantial phase i deal. good evening everybody. i'm david asman. thanks for joining us this is bulls & bears joining me on the panel adam lashinsky, christina partsinevelos, heather zimaronga , and gary b. smith. the dow soaring more than 500 points today before ending off session highs as details trickle down, about the president's meeting with china's vice premier, lee hu. both countries coming to an agreement on intellectual property, financial services, agricultural goods and the chinese calling this a pause in the trade war, and treasury secretary steven mnuchin says the u.s. will not implement the increase in tariffs on chinese

products that were set to go into effect next week, but the question, heather, does this go far enough for the markets for now? >> well, obviously the markets soaring over 300 points, i know they pulled back from the high at the close. it does go far enough for now that we are delaying the implementation of the tariffs on october 15, and then president trump has said before, he's going to save christmas, and not have the december 15th tariffs imposed but i'm interested to hear what curtis has to say of these three issues of currency manipulation, of ip theft and joint ventures and buy more products which i know they are that those will be if there's more to come. david: we'll bring our guest in in just a second but adam what do you think? >> quick read of this and we'll need time to get a bigger read and of course it's not even done it's a truce, a pause, it's a we will work on this in the coming weeks and months is that this is

a deal we could have had many many months ago. i think the market would have liked that deal many months ago and the market will like this deal now. is it enough? it's not nearly enough compared with what the president was promising he would do, i think, but we don't know all of the details. he wanted to get a deal done. it looks like he might get a deal done. david: as heather just teased we have a guest now and we'll bring in senior trade and jobs advisor curtis ellis, so question, would trump suspend the october 15 tariffs if he didn't expect some kind of a deal right? >> this is a complete vindication of president trump's negotiating strategy. he's been very tough and got china to the negotiating table which is something no previous administration, democrat or republican was able to do and he did it through tariffs, and this got them, this got them where they hurt and it got them talking, so now, we're going to see the details of this emerge. look china's not doing us any

favors. they need by buying our agricultural products certainly helping our farmers but what i mean is china's food prices are skyrocketing. they have port shortages, their people are starving and for the first time in history, the chinese communist party does not want to starve the chinese people, so that's why they are buying things, they are also buying things because their economy is hurting. our imports from china are down by double-digits and they need continual growth to keep their people happy. so this is a huge vindication for president trump's policy towards china. >> and yet there's no mention about removing the tariffs previously put on billions of dollars of goods which reduced business investment in america and hurt a lot of american companies and that is the crux of the problem that we're seeing for a lot of companies not only here but around the globe the fact these tariffs will still exist. sure he's not going to go forward with the tariffs in october 15 and maybe in december as well. that's great news, but and i think john porter whose the cio

of mellen investments said it best i'm not going to do anything until i actually see a deal which at this moment we're cheering for something signed in two to three weeks. yes it's agricultural stuff which we talked about on the show yesterday and what we predicted you brought up they are buying goods and buying 30 million metric tons of soybeans which is better than 2017, better than 2018 but still not even half the amount in 201s economy as we all know is slowing down. despite these tariffs and the tariffs not being removed we're still seeing 4% growth in tax revenue. >> we're going to get to that. that's not the treaty is. you're talking about corporate taxes right now. >> our economy is booming. our economy is booming. our wages are high. more people are working than ever in history, and this is all supposed to be -- >> what about ip theft, why isn't huawei mentioned in this and why aren't we dealing with the other huge issue? >> why didn't he cure cancer at the same time? >> we knew this was going to be the situation that agricultural products being bought was going

to be a win but is that a complete win? >> no and he doesn't say it's a complete win. this is phase i. he talked about phase ii and phase iii. >> but what about vindication? >> being tough, a total vindication of his negotiating strategy, i do not back down on that one inch. nobody else has gotten this much out of china. no one. david: gary b., go ahead. >> well, curtis, gary smith thanks for being on the show. you know, christina made many good points but the one of interest is this all started because of ip theft and now it seems like we're trying to bend a trading partner, so let's take out the ip theft and take out the cury manipulation because i'm not sure we can, you know, solve that be it tariffs or anything else. why do we need to twist anyone's arm on trade? china has something we want,

agriculture, stuff like that, we have something that they want. why do we need even a fight here what are we trying to do? >> why do you want to stop a stick-up artist from stealing from you? this is ridiculous. >> how are they stealing? >> ip theft. they are stealing our intellectual property. >> but my point is, we can't, that's a company-to-company thing. if we don't want china to do ip theft then companies shouldn't do business. we can't solve that. the nsa has said that every security person has said that. so i'm back to square one and what we're trying to solve with this trade war. >> well as president trump has said this is much bigger than trade. we're dealing with the totalitarian regime which is bend on dominating the world and when they achieve their goal everyone will lose money. >> well hang on, hang on. >> there will be no -- david: go ahead. >> there will be no private property. there will be no american companies. everyone answers with the

chinese communist party line. otherwise you won't get to make money. by stealing our intellectual property, by drugging our people with fentanyl, by having state subsidized companies that bankrupt our companies, by selling it below market levels, i mean, the seven deadly sins that they did engage in for 40 years which is why we are in this trade war. they've been paging a trade war for 40 years, and now we're finally striking back. david: go ahead, adam. >> with respect, if that were the position of the united states, if that's what we were trying to accomplish, what you just articulated, there would be no reason at all to have any sort of minor trade agreement that we think maybe might be signed in the next few weeks. >> well you just articulated the height of the cold war. >> hat you just articulated is an adversary that we should not make a deal we're doing. >> we sold wheat to the soviet

union at the height of the cold war, saying we will bury you and they had missiles pointed at us. we still sell them stuff and if china needs our food we'll sell it to them. david: let me just bring up the market itself because clearly the market is encouraged. i know it came down off its highs up 500 points and it still ended up 319 points today, the market did, we are getting indications and i'll throw this to gary, we're getting indications that the market could move from 5-10% to the up side if we get some kind of a trade deal, even if it's a modest trade deal, so the market thinks it's a good thing, right? >> oh, david, i agree with you absolutely. let's take out the whole, you know, curtis and i got back and forth on the evilness of china i suppose and all of that but if trump said tomorrow, without any details, look, we're going to table, we're going to tackle the currency and ip alone, you know, and we're just going to be a free-trading partner, with china

you're absolutely right. we see all-time highs plus on there. david: heather? >> well, i think that everyone is being a little tough on curtis, but i get it, rightfully so. i understand the agreement. i see that. i'm just sitting back but let's look at the fact, blotting it out like curtis is saying you can even look at hong kong protests, they want freedom of speech, they're being oppressed they want freedom of expression and you can take it out to the nba now and how a chinese authoritative regime is cracking down on their people and it's slowly spilling over into the u.s. , into our businesses and industries like the nba for example. so isn't that also what this is about? it's not just, of course it's not just about buying more soybeans and more pork. >> absolutely, again the president has accomplished so much with china and not to be

underestimated is how he has un masked the true nature of this regime. now we have entire world understanding that china is a totalitarian regime that does not respect our basic values, the basic western values, free speech, individual liberty. the european union has now imposed 66% tariffs on some chinese imports. we have now forgotten, ignored the world trade organization because its been exposed as an ineffective instrument for enforcing our free-trade rules. >> and yet we've used it continuously many times over the past several decades to our own advantage in america, to your point, of the trade war and how the president has moved forward, i think it is great that he brought china to the table because somebody needs to address it but it's slightly premature to say this is the best situation we could possibly be in because so far, we're still stuck in the exact same spot. we still have all of these tariffs you still have american companies, we're trying to deal with it you're seeing -- david: hold on a second today the president said he was

suspending the october 15 increase. so that's a move positive move. >> but there is still all of the other tariffs. >> the goal is to get supply chains out of china back to the united states. >> they have been going to vietnam and other countries. >> and vietnam is full up now by the way. so much has moved to vietnam they can't even handle any more. the goal is to get these supply chains back to the united states and put americans back to work. the goal is not necessarily -- >> i don't think you want to share that with the chinese. i don't think that is what the administration discussed in their negotiations with the chinese, that the goal of these talks was to eliminate the global supply chain in china. i just don't think you're on factual ground there. i'm not saying that's what they discussed inside these talks, but look, the president trump's policy is america first. put americans back to work. david: okay, speaking of president trump, we've got some new video that is just coming in

on president trump. he's taking questions as he left the white house moments ago. he's going to new orleans and of course we saw a big rally in minnesota last night, that as an extraordinary rally that went on for about three hours, three straight hours, earlier he was just in the white house office with the chinese vice premier, and here he is about to live for new orleans this is moments ago. president trump: so we just made what i guess is one of the biggest deals that's been made in a long time with china, the vice premier has just left my office, we have a great deal, we're papering it now over the next three or four or five weeks hopefully it'll get finished. tremendous benefit to our farmer s, technology, and many other things, the banking industry, financial services, and i guess by now you know pretty much we've had a very very good couple of days with china, and it looks like that deal is very much on its

way. it'll be the largest deal ever made for farmers. we're talking about a 40- $50 billion purchase and other things. it's an incredible deal for farmers. i think they will have to go out and buy more land and buy bigger tractors, so we'll hopefully get that done pretty quickly. >> reporter: [inaudible] president trump: we'll take a look at it. we'll take a look at it. >> reporter: [indiscernible] president trump: this will go a long time into the future. this is a buy. a very big buy. it's two years but it'll go a long time into the future. it's the biggest deal made worth $16 billion and this could be 50 but this is many times more, many times bigger than any deal ever made for the farmers. >> reporter: [inaudible]

president trump: say it? they will keep their word. china will keep their word. they want to make the deal. they are going to keep their word. >> reporter: [inaudible] president trump: he's a very good attorney and he has been my attorney, yeah, sure. >> reporter: [inaudible] president trump: well we're looking at it we didn't discuss that on this deal, huawei, we didn't discuss it having to do with phase i. this is phase i of an either phase ii or phase iii deal, so we haven't discussed huawei relative to this deal. so basically, the status will remain the same. >> reporter: [inaudible] president trump: well she may be a wonderful woman. i don't know her, but she may be very much a wonderful woman. if you remember the phone call i

had with the president, the new president, he didn't speak favorably, but i just don't know her. she may be a wonderful woman. >> reporter: [inaudible] president trump: well i'm not going to talk about it now because we're just starting the negotiation of phase ii. we'll actually again as soon as we're finished papering phase i, so phase i is one of the biggest deals ever made and unbelievable for technology, unbelievable for the banking industry and services, and for the farmers, there's never been anything like it but we're going to see what happens. we're going to be discussing that in phase ii. >> reporter: [inaudible] president trump: who? well the whistleblower has been very inaccurate. i don't know what kind of a whistleblower. the whistleblower reported a

totally different conversation than i had. i released the transcript of my conversation, an exact transcript and the whistleblower didn't say that. the whistleblower is either saying untruth, or he didn't know or he's maying up a story, like schiff. he made up a story, because when schiff read what i actually said , he said i can't say this because he did nothing wrong. so schiff went out and he made up a lie. he made up, it was a fraudulent story. you know that. you know that better than anybody. you're a good lawyer. and frankly, he went out, he made up a fraudulent story and he then went before the u.s. congress and the american people and he reported a fraudulent story. now, schiff, something should happen to schiff for that. he shouldn't have immunity for that. why should schiff be given immunity when he goes out and he says a story about the president of the united states, what the

president said, and it bears no relationship. in fact, every word was different, and i'll tell you what. i can't believe that a congressman could be that dishonest and can have am unit from that. steve? >> reporter: [indiscernible] president trump: so turkey and the kurds have been fighting for hundreds of years. we are out of there but we have a tremendous financial strength, which i've helped a lot with because our country has become much stronger since i've been president by many trillions of dollars and if turkey does something that they shouldn't be doing, we will put on sanctions the likes of which very few countries have ever seen before. >> reporter: [inaudible] president trump: i don't know. is he leaving?

>> reporter: he's leaving. president trump: oh, that's a shame. that i don't know. wait, did i hear shepherd smith is leaving? is he leaving because of bad ratings? tell me, i don't know. he had terrible ratings, is he leaving because of his ratings? i mean, if he's leaving i assume he's leaving because he had bad ratings. he had the worst ratings on fox. there's a reason, why is shepherd smith leaving? i wish him well. i wish shepherd smith well. >> reporter: [indiscernible] president trump: i think hunter biden is a disgrace. the number one t-shirt selling right now is "where's hunter." i came up with that one last night and by the way, we had a record setting last night, as you saw, a rally. that was a rally like few other

rallies and now i'm going to louisiana and we're taking the little league world champions they're from louisiana and they are flying with me. we just had pictures in the white house. >> reporter: [indiscernible] president trump: i haven't asked that, no but a lot of people should be asking hunter biden walked away with $1.5 billion from china, $168,000 a month from ukraine, supposedly a $3 million payment from ukraine, have i asked? no but i can't imagine that somebody hasn't asked. >> reporter: [inaudible] president trump: all the thins they're doing is a hoax to try and win an election they're not going to win in 2020. you look at the phone conversation i had with the

president of ukraine, and it was perfect. the only thing that wasn't perfect was the fraud that was committed on the american people in congress, when schiff got up and instead of reading what was said word-for-word, exact, when schiff got up, and he lied, and he defrauded the american public by making up a conversation, he made it up, so let me just tell you that the whole, this whole ukraine story is a hoax, and yesterday, i know you don't like to report it but i might as well say it. the president of ukraine said loud and clear that the conversation was absolutely a perfect conversation that there was no problem with it whatsoever. >> reporter: [inaudible] president trump: the what?

we'll see. we have a very good relationship with turkey. they're a nato partner. we do a lot of trade with turkey but we don't want them killing a lot of people and you know, we have been out of there, we beat i.c.e., we knocked the hell out of them, we took 100% of the caliphate, we did our job, but we have a lot of power financially. i built something here, over the last three and a half we'res take a look at what's been happening to the united states. over the last almost three years , you take a look at the economic power that we've created. we've gone up, in fact the vice premier of china just said we've gone up trillions of dollars, china has gone trillions of dollars, and if we have to use sanctions we will, on turkey. >> reporter: [inaudible] president trump: we're sending more troops to saudi arabia. saudi arabia is a very good allie from the standpoint that

we get along with them very well , a very important player in the middle east, the relationships been very good, and they buy hundreds of billion s of dollars worth of merchandise from us not only military equipment. in military equipment about $110 billion, it's millions of jobs. now with that being said, we are sending troops and other things to the middle east to help saudi arabia, but are you ready? saudi arabia, at my request, has agreed to pay us for everything we're doing. that's a first. but saudi arabia and other countries -- david: okay the president he's on his way to louisiana. there's going to be another rally down there and of course there was one in minnesota last night talking about a lot of different things, turkey, of course the ukraine situation, but more to our point whose talking about china, suggesting that they are almost through with what he calls phase i, which deals with technology issues, banking issues, issues

that involve agriculture and of course our farmers who have gone through some rough times as a result of losing a lot of trade with china. he says that this deal that they just agreed on, the phase i as he calls it, will include about $15 billion of trade for our farmers in agriculture and i've got to think, heather, that that's a good thing, right? >> oh, my gosh that is a good thing, but not to, i guess we're going back into the dispute we had just before moments before president trump's comments but this is a monumental step in the right direction. i don't know if you want to call it a deal. phase i is donald they are going to keep negotiating and the fact they are buying more ag is good. we can all agree on that and what we're disagreeing on is the methods that the u.s. is imposing tariffs they're not. right now we're suspending tariffs and that's a great thing and why the markets are soaring today. he's addressing currency manipulation and addressing ip theft by addressing ventures by allowing financial banks in

the u.s. to operate in china, 100% owned by american companies they're not saying you have to partner with china, so that is a stunning revelation. david: gary isn't that a good thing? >> look it absolutely is a good thing, but you know david i think you said right at the top of the show that it kind of alluded to the devils in the details. the market was up 500 points and then in the last 30 minutes it dropped 200 points when more of the details came out so if people come in early next week and say oh, this is really just kind of a rounding error smooth ing the edges then i think the market drops down. if there's real substantial stuff here then i think the market could take off. >> let me make an observation about the agriculture. the farmers of the united states did not need donald trump to make a deal with china in order to sell them soybeans, and in fact what they need a donald

trump for was to make a deal with china to get them to buy soybeans again after they stopped buying soybeans that's just a fact and i can't remember if it was christina or healther who pointed out this deal is for them to buy fewer soybeans than they were buying before all this nonsense so i'm not saying we shouldn't have trade negotiations with china. i'm just saying it's silly to say that we've done a great thing for the farmers. david: whoa whoa wait a minute. don't misquote me here. i was saying it's a great thing we got some deal concerning agriculture. >> i'm talking about, i'm not reacting to -- >> it was me. so to the numbers, we are actually, they are going to buy less soybeans than 2016 but more than 2,017 your and 2018, and to gary's point some of the details that came out yes they are going after those force joint ventures but what's not included in those joint ventures and this is the devil in the detail, auto as well as the financial services sector and so that's a little

concerning, because that's financial services, it is where often a lot of those -- david: true and even though he said phase i included technology deal he did also say we haven't discussed huawei and huawei of course is going to be critical in any technology decision so there's a lot of work yet to be done but hey 300 points is a plus side on the dow ain't bad all due to china. meanwhile are politicians putting your health at risk former new york lt. governor says key state governments are selling patients out, and allowing a deadly superbug to flourish at our hospitals. she joins us with the details, what you need to know, there's betsy, and she's coming up, next

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david: well patience traveled far and wide to access health care in new york is considered to have some of the best hospitals in the country if not the world, but former lt. governor betsy mccoy warns it's actually quite the opposite. she says new york hospitals are now among the worst in america, writing in a new york post op-ed that the states health care lobby is to blame, it's actually contributing to the spread of a deadly superbug that you got to hear more about former new york lt. governor betsy mccoy joining us. what's going on here? >> first of all the big news the headline is this superbug is the fungus 45% of patients who get it die within 90 days, because we don't have

medications to actually cure it, and new york is ground zero for this germ. over half the cases in the united states are right here, probably because it's one of the travel centers of the world and this germ has been brought in from asia, from india and pakistan, from africa and south america, four different strains but it is a real killer and once it gets into a hospital, it's almost impossible. david: i don't know how new york is responsible for bugs spreading in hospitals. >> well that's right. new york is supposed to report hospital infections. a law was passed to guarantee patients that if they have to go into the hospital they can find out which hospitals have the worst infection rates, but the fact is new york state is reporting a lot of the routine infections, like mrsa and vre and c-diff, these are bad things but nothing compared to this. it's kinked of like putting up wanted posters for shoplifters but not serial killers.

this germ is a serial killer. >> so betsy, this is heather. if it's such a serial killer, don't patients have rights to know? >> well they do. >> why don't hospitals have to disclose that? >> and my understand reduce infection deaths since filed the freedom of information request to get the information, so the patients can be informed and know which of the many many hospitals here are struggling with this germ and the reason is this. once it gets into a hospital, it clings to things like window cil ls and curtains and bed rails and it lasts for weeks. a new study just out showed one patient in a california facility brought in this germ, and it spread to 100 other people in no time, so you really wouldn't want to be treated in a hospital room, where a previous patient had this germ, or certainly even be in the same hospital. >> you highlighted the greater new york hospital association and how they lobbied.

>> not just lobbied. state officials with millions of dollars of contributions. >> you've written over $5 million since 2014 so that's a huge number and this is maybe less a question, but just hiding the problem that we see often, we see the health care sector, they are lobbying politicians all the time and then you get all of this swept under the rug, and not just with the health care sector you see it with google, facebook, it's constantly a problem. >> that is true, but let's focus on this one, because it's one of the largest killers in the united states. >> i agree. >> think about it, cancer, heart disease, stroke the next killer is something hospitals and nursing homes give you? of course you want as much information as you can if you're going into a hospital or a nursing home and yet, because of the huge amount of money the health care in dust are lavishes on politicians, not just in new york but around the country, it is hard to get the real facts. even the centers for disease control and prevention won't

tell you they say well the hospitals won't cooperate if we tell you the whole story. they are supposed to be working for us. >> how do you fix that then? i know i'm interrupting i'm sorry. >> public pressure when a founded 15 years ago not one state passed a law requiring hospitals to disclose their infection rates now 38 do. >> betsy this is adam lashinsky first of all thank you for fighting the good fight here. at the risk of sounding naive, wouldn't the hospitals want these superbugs out? i mean, please explain to us why they're fighting this. >> because, they have concluded that a germ like this, it's a fungus, that they are a little worried about it killing hospital business than killing you. they are afraid that patients won't want to go into the hospital. >> like bed bugs. >> in your example where you have 50 hospitals in one city, patients can choose which hospital to go to, and only about half or fewer are effected so you really want to know. david: gary go ahead. >> betsy this is gary smith. stepping back, i have a even

bigger question or issue. i think as christina alluded to, they spend $48 million a year lobbying, the head of the greater new york hospital association gets 8 million a year. this sounds like a healthcare government cartel which is what elizabeth warrens and the bernie sanderses of the world want. if we get that on a nationwide basis, aren't you going to see these same problems spreading throughout? >> oh, absolutely. absolutely. single payer healthcare is no remedy for this. the public demanding the information is the remedy. david: betsy you are a crusader thank god you're doing the work you're doing. so a deadly wildfire raging in california as officials ordering thousands to evacuate. we'll have a live report wait until you see more of this video it is incredible stuff. >> everything is on fire. it's bad. >> it's bad?

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david: a southern california wildfire turning deadly with at least two dead as power companies emplaned blackouts to prevent more fires . william la jeunesse has the latest live from porter ranch, california incredible stuff you've been doing all day william what's the latest? >> reporter: david shelters are full, the schools are closed, the freeways are at a stand still, no hotel for miles this particular fire basically broke outlast night around 9:00 at night when the santa anna winds jumped over that ridge, you can see the mountain top that came down these canyons burning through here literally ripping through this community of porter ranch as most people slept, the sheriff came through on a loudspeaker, phones buzzed and alert 100,000 residents under a mandatory evacuation. not everyone however did, one

man died, as he reportedly tried to save his home, sustained winds over 20 miles an hour gust s however are down under 15 miles an hour still the fire jumping fire lines in places, firefighters on the defensive trying to protect homes also fighting from the air dropping retardant yet only 25 hopes roughly have been damaged or destroyed, many credit burying the power lines also new construction here and of course a thousand firefighters from la and beyond. >> the wind was pushing it straight so we went up there to check and by the time we got up there the smoke was really bad. >> i saw that we were probably going to eventually need to evacuate. so i woke everyone up and said listen, pack a bag. >> reporter: so the latest figures are containment around 13% that's obviously up from 0, burned about 7,500-acres better than 4,000 earlier today, and however there are areas that have not burned for decades so it's difficult to get a box around this fire, if you will.

david in terms of the vol untar it power shut autographs if you will, but in posed by utilities, southern california edison only about 20,000 homes not 250,000, now you look at pg& e of course they had about 2 million people without power in northern california very controversial and the governor obviously maiming the utility for not putting more money into infrastructure and as well as clearing vegitation. this particular fire should be done in about one or two days. back to you. david: really great reporting all day william. we can see the wind blowing through your clothes and your hair. that's clearly what's fueling these fires thank you very much, william la jeunesse. well, as you heard california governor gavin newsom slamming p g& e for power outages across the state. listen. >> less is not from my perspective a claim at change story. as much as a story about greed and mismanagement over the course of decades.

neglect. a desire to advance, not public safety but profits. david: the wall street journal editorial board saying it's really the liberal policies of call al qaeda that are to blame. writing today for years pg& e skimped on safety upgrades while pumping billions into green energy and electric car sub say diplomats to please sacramento. credit suisse estimated long term contracts with renewable developers cost the utility $2.2 billion annually, more than current market power rate, so adam you're in california. whose right here? >> well i think the easiest thing to say is that everybody is right. the journal is playing its tune and is not wrong in the tune that is playing and. >> governor: under newsom isn't wrong either in talking obviously there have been decade s of mismanagement leading up to this moment. it's worth pointing out the fire s that we were reporting on in southern california to some

extent vindicate what pg& e has done over the past couple of days. the reason they did it was to avoid situations like that given the fact that they have so many problems with their transmission wires. >> well yeah, what a shocker though, adam that one of the worst utilities in the world is in a state where the government has the tent it calls wrapped around them. you look at some of the best utilities like here in florida, nextera with fp& l is one of the best. why? because the state government tries to keep out as much as possible. you know, this reminds me of during the mortgage crisis when fannie mae got blamed for giving those low of course housing mortgages. do you know why they did it? because government forced them to, the same way with pg& e, they had as david said, had to make those investments in silly electric cars and solar and things like that. that's why they had to skimp on that. government gets its arms out of

these enterprises it would operate a lot more efficiently. >> the interesting thing that the san francisco chronicle found is that the pg& e executive took 60 customers to a vindicated yard two hours before they decided to cut the power, silver oaks winery over there, they have apologized for doing that but i can understand for the people in the area that are very frustrated because they weren't told that the power was going to be cut especially in areas that aren't really it's preventive but they aren't seeing heat and so pg& e headquarters in san francisco has barricades around because people are throwing eggs and talk about more name calling but the poor workers. david: here is another irony for all the billions of dollars that are spending on green energy right now people in california are spending like crazy on generators which of course use fossil fuels very quickly heather go ahead. >> no, this is a major problem. regardless of where you want to point the finger and blame pg& e upgrading their infrastructure

or whether somebody else's fault , i think that this needs to be solved an aging infrastructure problem and a very dry area, 85 people were killed so to defend pg& e that was of course, in their eyes, it's not just i don't think it's just for profits they had to take the precautionary step so it didn't happen again. david: okay gang thank you very much. we wish them the best. well one ceo taking the time to write out birthday cards for every single one of his 9,200 employees. we're going to ask sheldon yelle n why he does this that's next.

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david: well writing somebody a birthday card is a nice gesture but how about doing it more than 9,000 times a year.

sheldon yellen is the largest property restoration company in the country and he does it for all of his 9,200 employees in fact i think there are more than that now. he carries around a suit case full of stationary so wherever he is he can write additional thank you notes for anniversar ies and other events. mr. yellen joins us thank you so much for being here. actually it's more than 9,000 you have about 12,000 employees right? >> we just recently did another acquisition, so we're just over 12,000 people now, yeah. david: its got to take a lot of your time to do all of this. are the benefits worth it? >> i think they are, and it started out when there was 19 employees and this is going back 34 years ago and as we continued to grow our business throughout the world and we are the largest restoration company in the world in 34 countries, we added employees every time we had an acquisition, so today with this recent acquisition, we are just

over 12,000 people, and the question of is it worth it? i think it is. it's a culture builder, and i think that it lets people know and understand that they matter, because as i go around the world and meet with people, i remember tid bits of information. i g drop a little note in each birthday wish, and they feel remembered and valued and literally, collected the birthday cards for years so when i go in someone's office they have 12 years 9 years 14 years of cards on their wall and they too pass on that to others, and i think, again, a culture is the most important thing for a business. and the most, the biggest asset you've got are the great people that run the business. >> and you talked about meaning , men search for meaning in life, and do you find in the 30 plus years you've been work ing with your employees and you've seen them grow from 19 to over 12,000 now there's a difference in terms of how

people react to handwritten notes because we seem to not communicate any more, we're always looking down at our phones and not taking that extra time to say thank you, and then also really quickly, do you have a certain favorite pen? i'm curious. >> i do. first of all i do have a favorite pen. we have bought 3,000 of those pens, so i have them for a long time. as far as you talk about is there a difference in the world of communicate today, of course there is, and i think that maintaining that handwritten note, as a practice as a habit, i think is important, because it really differentiates you from these e-mails and texts that go on and that's why i still carry a flip phone. david: [laughter] >> i do have a flip phone and when people talk, i want to hear their emotion. i can't to hear when they ask for a capex request, and they are going to spend money and invest money i want to hear they're committed to it and hear that they are going to take

ownership and you can't hear that in a text, so i think it's an important trait to continue on. >> shell i just want to say thank you to you for inspiring us and our viewers. i think there might have been a time in our country where it wouldn't have been so unusual to hear about a leader of a business who took the time to thank his employees and i notice a lot are doing what is obviously dirty hands-on work getting their hands dirty and it's just wonderful that you're taking the time to say thank you to them. >> well like again, you know, i've said to you guys before, i'm working alongside some of the greatest people on earth. we have the honor of serving those in need after a fire, a flood, or storm damage, and we get to serve those people that have lost their homes, their businesses, and help restore their lives and get their facilities back in order and a hug, a handwritten note, a thank you, a sign of gratitude? this is not a lost start. i can tell you that.

hi sheldon yellen it's heather, i'm actually writing a book on corporate culture so i think this is something that would fit right in it very much so. i put my high paying job at aig, because my bernie sanders didn't appreciate me and now i work for a boss who greatly appreciates me but are there things outside of the thank you notes, of the handwritten thank you notes that you also think you should extend to your employees in terms of showing appreciation? >> i do, and when you hear of random acts of kindness, and again remember we're a each pro king people on some of the worst days of their life. they just had a fire in their home. they've lost all of their personal belongings so we hear so many heroic stories that our people have gone into homes or businesses and found just recently a story found the american flag that draped the coffin of a vet that was bury and all the woman wanted was that flag and one of our people found it and they wound up getting it cleaned and they re

delivered it to her, so i go out of my way to write a note to that employee to let them know that that random act of kindness made a difference in someone's life, and i believe that's what we should all be striving to do every day, and like you just said you're writing a book. one of the cheapest things you can do in life to make a difference is just by being nice david: you know, we have to break it at that, but to have respect and sometimes it's more important than how much money you pay your employees but it shows that you can have capital ism, not all has heart like yours do but they coinside very nicely. congratulations. i think all of us can appreciate the work that you're doing. sheldon yellen, please come back and see us again, i appreciate it. >> thank you guys. david: good stuff. well brooklyn brewery is betting on taste and looks to lure a new wave of sober curious drinker, christina took a trip to the brewery to give the new non- alcoholic beer a try, now

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but shouldn't somebody this is be listening?pression. so. let's talk. we're built for hearing what's important to you, one to one. edward jones. it's time for investing to feel individual. david: new york city based brooklyn brewer launching the first non-alcoholic beer catering to the crowd who wants to skip the hangover but looking for flavorful beverage. you look a visit to the brewery. what is the buzz? >> this is non-alcoholic beer. this is part of a trend we're seeing amongst a younger demographic that want as alternative. they don't want to go out binging. healthy and feeling food. this beer i tried today, special effects, it is 85 calories.

it less than 0.5% in terms of alcohol. if you're talking about the non-alcoholic space as a whole, non-alcoholic beer is $20 million. that is how much they sold in 2018. we're expecting to see that bro to 80 million by 2035. it definitely will go higher. david: it looks. gary, i tried virtually every kind of non-alcoholic beer i get my hands on, none of them come up to the standard of alcoholic beer, how about you? >> i totally agree. i like to have a beer. i'm far past my binging days i suppose. in fact if i could have a beer, the taste of beer without the alcohol, that would be a gold mine. look what happened with the impossible burger and beyond burger. there is a market there, if they can make it taste good. david: adam? >> i like beer as brett kavanaugh famously say. i have no interest in drinking beer if it won't have alcohol.

all sorts of other things i prefer a beer. david: heather, do you like a beer? >> i'm not a beer drinker. maybe you try the non-alcoholic. two seconds which is better. >> i go with -- david: see you next time. >> the dow closing up 319 points after president trump declared just a few hours ago that america has reached a phase one of a trade deal with china we are very close to ending this trade war. we'll break down that exactly what that means for american businesses economy and the stock market. plus a federal judge ruling that president trump violated federal law when he used his declaration of a national emergency to get millions of dollars to fund the border wall. also turkey, threatening to retaliate after treasury secretary steve mnuchin mnuchin announced the administration is authorizing sanctions against turkey, amid its