tv Bulls Bears FOX Business March 19, 2020 5:00pm-6:00pm EDT
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melissa: so cute. connell, my son is home with my husband, he said, what a great time they are having, there are positive things out of this. connell: family time. thank you for joining us, here is "bulls and bears." david: more help on the way, that is message today from president trump as he promises a two-pronged attack, one an economic rescue, two, equipment and gear to the doctors, furthers, hospitals. and this morning at white house, president said i it gipss -- bes with getting more therapeutic drugs into the pipeline and fast. >> i directed fda to eliminate outdated rules and bureaucracy. so this war can proceed quickly, i mean fast. and we have to remove every barrier, there were a lot of
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barriers that were unnecessary. they have done that to get the rapid deployment of safe, effective treatments. david: markets cheering new action from dc, but growing concern over safety of packages with new development from amazon, this is "bulls and bears," i am david asman, we have it. ashley webster looking at green in the market, susan lee following amazon, but first white house and blake buhrmann. reporter: treasury secretary mnuchin said today that damage would -- administration would like to see,00,000 -- dollar chs deposited to americans adults and another 500 if they have children. in part of this package they are negotiating and crafting with republicans, vice president chief of staff said they feel that phase 3 stimulus packages,
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could potentially makes it way to president's desk next week and be signed next week. president was asked today whether or not that trillion dollar figure is sufficient. >> we'll know about that later, we'll see what happens it -- so much depends on what is going on in this room in terms of the medical. if we can stop it in its tracks it plenty if we can't we'll have to go back and talk. reporter: to give you an idea how many industries are looking for help, afters president's meetings today. nevada governor asked for hospitality workers to be involved in relief package. and during anti an exchange with michigan governor open the door to possibility of automakers, and here in washington states
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department now warning americans against international travel. the department update guidance said that following: u.s. citizens who live in u.s. should arranging for immediate return to the united states, unless they are prepared to remain abroad for an indefinite period, u.s. citizens who live abroad should avoid all international travel. david: thank you very much. >> all major averages ending in the green, reversing earlier losses, we go to ashley webster, more on markets nasdaq doing well? reporter: major markets made some gains in a choppy session, the dow gained 188. and s&p up half a percent to 2409, and nasdaq added 160 to close at 7150. >> governments and central banks pledging this cushion the economic shock create by
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coronavirus with promise of billions in liquidity, low interest loans and help for americans who lost their jobs, but investor still looking for safe haven until the economy can bounce back on its feet, financial stocks gained a little bit of ground today with promise of stimulus relief as did tech companies, microsoft adding close to 2%. and we saw some nice gains in energy sector, price of crude oil, recovered to above 25 a barrel on news of u.s. energy department buying an initial 30 million barrels of oil for strategic petroleum reserve. >> airline stocks they continue to strug. american losing another 11%. and to close at just above 10 dollars a share. >> back to you. >> unbelievable. >> another developing story, an amazon warehouse worker in new york city testing positive for
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coronavirus. reporter: first known confirm case of covid-19 for an amazon warehouse worker, this worker worked at queens district delivery station, according to amazon, this one worker is receiving medical attention, they are also up in quarantine at-this-point, they say amazon told us here at network they have gone through a extensive san payinsanitation period, and compensating the workers in full pay. this 1 o of 125,000 workers in amazon. in europe there are 5 worker who tested positive for coronavirus. and one in seattle headquarters tested positive as well for covid-19, they have told most
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their. ies to stay home, and work from home through until march. this is time to stay safe. david: all right. thank you. >> case of an amazon worker testing positive for the veer suss fueling concerns about safety of our packages, in mail that is delivers to our home of day, with us from harvard global health up state. dr. jahd, thank you, i understand there one study that says virus can live up to 24 hours on cardboard. that would give me concerns about bringings packages into my home. >> yeah. no, look, there that one study, we don't know if that leads to people getting infected. we worry about is imagine if a delivery person coughs on that box just before they hadn't it to you, if you are really worried, wipe it down with a clorox wipe or some sort of wipe
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like that, person willie, i think it is not -- personally, i think it is not a big deal. david: not just that one worker at amazon it goes a lot of different hands before it gets to my door, should i open this outside of my home? >> i don't think that there is -- i think that key circumstance look even if you open and imagine there is virus the box. it is fine. wash your hands before you do anything else. open the box, open at home, toss the box, and go wash your hands before you rub your hands on your face, nose or eyes, keep washing your hands. >> good news, china announce for first time since crisis began they had no new cases internally anyway. could it be, we have a oh a --
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horrendous case in italy and the world, but could this be the beginning of the end of the pandemic. >> i wish it was, but i don't think so. i think you will see china got there by locking everyone down. for a month and a half. we're not doing that here, we have not had. so i think what will happen with china you see new cases as they relax controls, i wish i had different news, i think we're still aways away from pandemic peeking. david: and i don't mean to but a cloud over my own optimism, you look at revelers in miami, spring break kids. and with no care, no seeming care about who they may be infecting, they are now in general population, god knows howmg people they are infecting.
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reporter: that was a travesty we have so closes big public beaches, you know that there will be a bunch of people who will act irresponsibly, i it is bad for all of us. >> president came out with the team, coronavirus team today. task force, mentioned a couple medications that could be used for treatment of the virus, if you contract it, one of which is a chloroquine product. is -- too you put much more in this? as a possible not a cure but some good means of treating the disease? >> look, so, i think we have to be hopeful about treatment, but problem we don't have data or science and evidence. on chloroquine we have test tube data, a loot o lot looks good it tube but not really on the human
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body. we have preliminary data on chloroquine that gives me optimism. but we don't know yet. david: we're getting a warning about one drug that people were using, maybe not any more, ibuprofen, some suggestion that could have bad consequences. >> yes, as a doctor, people have fevers and setting of a viral infection. i recommend they take tylenol. there is a little bit of preliminary every that maybe ibm bribuprofen is worse, but i say, if you feel sec, have a fever, tylenol is best way. >> talk to your doctor. david: then questions about susceptible, there may be less susceptiblity among o-blood types than a, you are smiling do you know anything about that.
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>> there say lot of like misinformation out there i'm not saying this is misinformation, i do not know there is any evidence, high quality evidence. people are picking data points out of the air, first, it does not matter in sense no one will change their blood type, getting a blood transfusion will not help. >> what about plasma. suggestion if you take plasma from team who survived that disease, and get their plasma is might help you to ward it off. >> that makes sense. we have seen that with other infections, if you can o identiy the antibodies they have developed, there are companies working on, that but we don't en yet, we have to focus on building science and data to know how to treat people. david: for those kids who think they are immune 38% of the people who are hospitalized are between ages of 20 and 50. young people are nottic immune,
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david: deadly coronavirus sweeping through the family lives and decimate our economy, a trillion dollar stimulus package is being negotiate between senate republicans and democrats. this could be more money in your packet and aid for businesses, at what worst to us eventually. hillary vaughn on capitol hill with more. reporter: we get to text of the phase 3 bill that senate majority leader mitch mcconnell is introducing right now, very,
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very quick if senate to move from this morning, majority leader laying out what he wants in bill to text the same day, a few hours later in afternoon, part of this bill, would flush billions into businesses and american bank accounts, but bottom line from this morning has been this is not a bailout. >> portions of these funds, small businesses and core expenses, paying workers and paying rents or mortgage, will convert to grants, they the not need to payback. none of these firms, not corner stores, not pizza parlors, not airlines, brought this on themselves. reporter: mcconnell said unlike small businesses large industry like airline that are slated to the get 50 billion if federal reserve will have to payback that amount. they are using to try to keep alive an industry is is being
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crush by coronavirus. s senate, is really moving here break-neck speed there was some disagreement this afternoon about whether or not full g.o.p. caucus here in senate would support idea of giving checks to americans, we reported exclusive leo fox business, that number has moved up from 1,000 per person to 1200, 500 per child. and me with my colleague edward lawrence, reporting a tapering, this money to people up to 75 thousand dollars income per here, and then papers up to 95 thousand, if you make more, you are likely not going to be eligible for this check. >> thank you very much. >> president trump, signing into law second coronavirus relief bill after it passed in senate provides paid sick leave,
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unemployment health and covers cost of virus testing. 8 senators vote the again the bill marcia blackburn from tennessee joining us, why did you vote no yesterday. >> you know, there were some provisions that would impact the small businesses, also, would not be helpful to states like tennessee, that did not expand medicaid and we were concerned about that, it was an impact of hospitals. rural hospitals and to the thousands of small businesses that employee the vast majority. we're focusing on how to get resources to them, take care of small businesses and how we move forward to bring access to health care delivery. things like telemedicine we put a lot of research, bringing
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pharmaceutical manufacturing back to united states with provisions like my bill. david: have you been doing incredible work, art laffer has been telling us, he is a proud tennessee residence now from california, you may be right, but vote was 90 to 8, with those numbers, you are not making a difference, i am wondering is there any incentive bill you will be able to get behind? >> we had already voted to -- for 8.3 billion, we supported 50 billion. david: okay. >> it came through. with the president declaration, we're hard at work on this next package. which is a help in financial assistant and stabization, worked on this for several hours. today. david: senator you don't necessarily have to spend money in order to get the economy moving faster than it is right
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now, one plan is to just eliminate all of the tariffs for the duration of this disease, that is -- whether you talk china or europe or wherever, eliminate them, suspend them temporarily until the virus is over, what do you think of that idea. >> we heard from people involved in different areas of the supply chain. whether you are talking about food or health or commodities, said look let's make sure we eliminate tariffs and others that have said, you know we need to do is put the focus on other popcomponents like pharmaceutic, we have businesses that are stepping up saying we retool and make vent laters as orb posed to -- ventilate ors, as opposed to auto repair parts. david: i have to ask, next time
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you vote, you may actually be doing it remotely, two of your colleagues, have tested positive in congress overall. imjust wondering if it possible that senate, at least might work remotely and give you a chance to vote remotely, because concerns of virus what issue do you think? >> i think that is going to be difficult to do. we can stay 6 feet apart, and we can work on pulling this next package together, that is what we've been doing today, as i said, and leader said, he has 4 different components, of this with the direct assistant, this dealing with our critical infrastructure. and i think it is important for us to be here and be able to do this in a very expeditious way. david: sens senator, president y amen-- mentioning something that larry kudlow said it might get to point where u.s. government
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would take equity in some of the distrissed companies, a lot of people remember taxpayer left on hook for 11 billion when they did that with gm. do you think that is a good idea? one of the things that we know is that people want to make certain that the taxpayer is made whole for whatever we do in form of loans or clos collaterae loans. what we have realize is, in is not a crisis ofs business community, making. it is the business community that many are being asked to close their doors and others asked out of patriotic duty to lay down one parts of the business and pick up another, we know that is a virus that came out of wuhan, china. they knew they had it, a kept it quiet. it expanded in a global tan
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pandemic, it is now no over 125 countries in the globe, we know that many countries are looking at us for research and develop and pharmaceuticals, finding antivirals and vaccine that will lead to containing this. and will then arresting this, and we're going to -- we're the usa we can do that. david: we can youy it so much senator. >> appreciate it. >> absolutely thank you. david: best of luck. >> spring breakers worsening coronavirus fears, travelers appear not to be taking the pandemic seriously, we're live in clearwater beach, florida with latest and austin texas mayor steve adler, will tell us how he is trying to avoid the spring -- spring breakers, by
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david: this video from this week, it may be different now, but young beachgoers at that time seeming be on seem -- be e >> to the pandemic. clear water, beach, i still see sun goers there. reporter: absolutely, been a big week of national criticism in particular for all of the spring breakers on clearwater beach, families who are packed together in big crowds close proximity, seemingly just ignoring the cdc's recommendation and guidance for social distancing, maybe the message got through, we have been here all day long today people on beach all day long, and also, they have all
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been spaced out approveo prep yeahaproap yeah,appropriately,tm others, statewide governor has yet to issue an executive order closing all beaches it has been left to local beach towns, most beaches remain open out of 800 that surround the state. but more are closing every day. everybody who goes to a beach is supposed to space apart, groups smaller than 10, and 6 feet apartment here is what clearwater beacheeded looked lie monday, last night, council ruled all beaches in city will be closed beginning to monday, across state on coco beach, the space coast, more crowds packed beach wednesday with little concern about a virus, many
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young people think it only seriously affected older. >> family vacation, everyone is freaking out over the coronavirus, it's a cold, wash your hands, my wife is a nurse, it does not affect us. as long as remaintai as we, mait we're supposed to do. >> after this weekend, no longer that scene on clear water beach, it will be closed monday morning, leaving to to seagulls and brevard county closed all beach parking from melbourne to cape canaveral, and miami-dade county closed all of its beaches, from here out indefinitely at-this-point. david: i would love to bring that young man in to an icu in any hospital here in new york to see it is not just a cold. as he said, he should know better since his wife is a nurse, i'm glad they are trait ending it out there, thank you. >> austin, texas, taking measure
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to combat spread of virus, mayor banning gathe gatherings of 10 e or more, off th austin police cw arrest and find anyone who does not follow the policies be $1,000 find or 6 months in jail. joining us by phone austin mayor, steve adler, i hope you are doing well, have you made any arrests? >> we have not. and thus far, there has not been cause to do so, and we're lucky we -- fortunate about, that i till you, w. we closed restaurant dining rooms and bars, raised eyebrows, but my governor in state of texas issue an order that did the same thing. statewide, it is more of a what everyone recognizes has to be
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done. >> are still far away from where san francisco is. with their shelter in place, right? >> yes. we're not doing sheller in place, you -- shelter in place this okay to go outside, probably health to go outside and walk around. but, try to minimize the number of people that gather in one group, because that is social spreading. is what enables this to really get out of hand. david: what about your homeless population, this is a population that is particularly vulnerable to this virus. >> you know, this say real concern. because very difficult to get any kind of social distancing in that environment. it comes at a time we were already trying to find better and safer places for the folks to be. so we're trying to source temporary locations temporary opportunities, i know some other cities, seattle are creating more kind of like tent areas, that is the thing we're looking
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at. david: some of those, i have seen some homeless shelter in l.a. and elsewhere they violate rules of gathering of 10 or more with a group of 25 to 50 in the same room. >> well, the rules we have to deal with social separation, rather than having a group of people in a camp, off by themselves, where there 100 gathered, if we could set an environment where people are at least 6 feet apart that will be a lot healthier for them, than right on top of one another. we trying to find these interim locations when we have them and we have none yet. where we have a positive reading from someone that is expe isic - experiencing homeless we have work our way back. david: summer is coming. thats what is homeless camp out in public places. it was that rule that you had
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that created a lot of discomfort with some of the folks in austin. will that be allowed? will you allow people to camp out in public with the virus afoot. >> i think we'll have to find ways for that community to be able to separate. i think probably take a longer look at sanction camping areas, something we tried not to do before, but we have to do something, with the virus, that adds an element that did not exist a year ago. >> it does, we have our homeless problem in new york city, steve adler thank you so much for joining us we wish you the guest of luck. >> on lighter side, a quarantine for humans means a breath of fresh air for animals, fish and birds that long abon abandoned y city canals are now revisiting
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francisco fisherman's wharf would be bustling it is pretty much deserted here, more public officials tell people to stay home and close downplayses they might be tempted to visit, 15 california counties have taken unprecedented steps, stretching north from man mend sino so san luis obispo. people are allowed to get gas, groceries and see their doctor, they can go out for walks and bike rides but they need to practice social distancing. people who don't think find themselves subject of quarantine shaming on social media. >> yesterday, governor gavin newsom issued executive order that temporarily protect tenants from being evicted or utilities turned off if they can't pay
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bills right away. state also earmarked 150 million for emergency shelters following death of a homeless man in santa clara county, california has more than 150,000 homeless people. the most in the nation. they are at risk because of their life style and many have underlying health conditions that make them vulnerable to infection shin. governor also told national guard to be ready to step in to support public safety and humanitarian efforts, like food delivery and protecting supply lines, back to you. david: claudia thank you. >> let's now bring in fortune executive editor, adam l -- in midst of shelters in place, in san fran, i bet you have cabin feature already. >> i noted that journalists are allowed to be out and bthis
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business journalist is -- this business journalists is sheltering, right now i am pretty busy. david: your family, your wife and your 13-year-old. >> you would get a different answer from them. i should point out, claudia did mention that we have been told it is okay to go out for walks and runs. and i did the other day so long as you stay away from other humans, we have been doing that it is surreal, the wher weathers beautiful, you go out for a walk, a lovely day and you forget for a moment. david: police are authorized i continued to give out tickets if they think that something is being done to violate the shelter in place, have you heard or seen that? >> i heard anecdote about someone stopped at a gas station, and told to go home, out in one of counties east of san francisco. but i have not heard read or
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scene anything like that. people -- heard, read or seen like that, people are by and large adhering to order, had is random what is open or close, the dry cleaner up street from me is open, there is a little market near me, well stocked, they allow 10 people in at a time. by and large, at least as far as i have seen, people seem to be add merinadhering to the order. david: we do not have sheltering in place in new york city. there is a big fight between governor who does not want it and mayor who does wanted it, but governor has authority. what is your feeling about it? >> i have a strong perspective on this. i should note a couple weeks ago i published a language feature about san francisco many problem, after that.
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mayor of san francisco london breed declared a state of emergency, she caught plaque fo, she was it is about awareness, i believe that she will be responsible for saved lives for having done this. i am glad she did it i know she -- i believe and i hope she will flatten the curve in san francisco. and the surrounding counties. david: fight goes on, i have a different view, you are living through it, good luck. >> and to you. david: thank you. >> as oil prices hover near record lows, some expert are saying we could see gas prices drop below a buck. former shell oil ceo john hoff meister is here, next. vitation. to feel connected.
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you know, i'm going to tell the president my recommendation is he go to congress and ask for a lot more money to fill the strategic reserve at $22 for crude, we should fill up reserve for next 10 years. david: some expert say that we could see gas prices hit 99 cents a gallon or less in some states. while travelers may like it last time gas prices were below $1 was in 2008 financial crisis and domestic produce ire producers d oil are killed. john thank you. >> first. on this strategic reserves, we have capacity for 727 million barrels of oil. that represents about 36 days of consumption for entire u.s., should we fill it to the brim.
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>> no reason not, a good saving for american people and good security down the road to spend money now while oil is cheap, you can believe china is doing same, china buying in oil for their reserve, we maya may as wl also. david: should we perhaps, create a capacity for more reserves, either in form of oil or ready-made gas. a lot of people say we want to help airline company get this jet fuel at bargain basement prices. and sort of give it to them to have first year where they don't have to pay for fuel that could help them on track. >> a question of storage. ure refineries are running pretty well flat out to maintain consistent supply there is a limit the aim of story -- amount of storage, and aviation fuel does not sit quietly for a year, it deteriorates overtime.
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david: now, russia and saudi arabia, really are behind this, you and i agree this was not a price war between the two, it was them colluding together to take advantage of our virus problems. in towarder to try to kill domestic producers is that that what is this about? >> absolutely, correct. david, this a collusion between two dec 8 or -- dictators who ae worried about losing position as globally in charge of oil and gas, american industry has been so strong, dominant and so successful that it has displaced the role of the two dictatorial regimes, they try to win it back, give then president, and vice president and governors of the states of union are focus on coronavirus, everyone is distracted. we're undermining our national security, and our energy
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security as a nation by watching as the oil industry in this country is emass cue lated, those who want to see fossil fuel go away, they have no problem with seeing oil industry. until it is, then when it is, they will see this nation decline enormously in the economy strength, it does not -- >> there are 6 to 7 million americans that rely on oil and gas industry for jobs from production to retail. and those people are going to be hurt hard enough as it is, we don't want them out of work for good, john, please come back and see us soon. >> okay. david: some morning use their time in quarantine to spread christmas cheer, folks are decorating trees exp and shariny with the world, a great way to keep family occupied. -- hallmark channel also getting
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in. rolling out reruns of christmas movies for those hoping to celebrate in self containment. easter and passover are coming up. >> restaurant industry getting hit hard. a new charity raises money to help the out of work employees with backing of one of biggest breweries in the nations, details next. because our way works great for us! but not for your clients. that's why we're a fiduciary, obligated to put clients first. so, what do you provide? cookie cutter portfolios? . . we don't have those. so, what's in it for you? our fees are structured so we do better when our clients do better. at fisher investments we're clearly different. we'll keep building smarter suv's. to help keep you focused on the road ahead.
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david: restaurants and bars getting hammered by the coronavirus. according to national association of restaurants, up to half of nation's 15.6 million servers and bartenders could be soon out of work. trade group asking white house for 145 billion-dollar aid package. until they get assistance some restaurants are getting creative, ramping delivery services, selling booze to go or asking customers to donate what they can. molly line live in beantown with more. reporter: in response to covid-19 governors in more than two dozen states ordered bars and restaurants to end dine-in service now. many restaurants forced to lay off workers or close. now a massachusetts charity launched a fund. check it out at restaurant strong.org to raise money for wait staff, cooks, bartenders without a paycheck in the bay state. greg hill foundation teamed up with one of boston's best known breweries, sam adams. they are kick-starting the fund with 100,000-dollar donation and
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matching $100,000 in donation. the owner says it is way to pay back to give the people who gave his craft beer a chance 35 years ago. >> i wanted to make a statement to remember there are others in our communities more negatively impacted and have fewer resources to respond. a lot work in bars and restaurants all of sudden got shut down. they have no job or no paycheck. reporter: restaurant owners looking at empty tables and facing difficult decisions. tim burke run as the popular, in a pick quell restaurant. he was forced to lay off several people, combine staff, switch the business model to pick up and delivery. he launched a gofundme page asked community to help his staff. would match $10,000 in contributions. >> i'm not worried about the restaurant profitability, but my servers, cooks, employees living
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paycheck to paycheck. reporter: those delivery and take-out orders are helping. another way to help, restaurant.org. david: thanks, molly. thanks for placing your trust in us. stay safe. we'll see you tomorrow. liz: welcome to the show, i'm elizabeth macdonald. joining us tonight, ohio republican governor mike decline and republican michael cloud of texas, columnist kristin tate and general jack keane and more on the coronavirus outbreak and other stories as rush for cash rattled market. the dow popped 1200 points. coming up tonight we'll show what you is really fueling the market chaos. you will not believe this story. it is not just corona. volatility did drop. why? central banks around the world stepping up inclu
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