tv Cavuto Coast to Coast FOX Business April 27, 2020 12:00pm-2:00pm EDT
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beer deliveries in vermont. rookie's root boar usually sells in local restaurants. they closed up and got creative. dancing dinosaurs, bernie, ben & jerry's socialism, i guess that is vermont. neil, that's yours. neil: i thought for a second it was ashley dancing. all right. maybe not so funny. guys, thank you all very, very much. we have the dow up 302 points. looking at stimulus combing down the pike. half does states are branching out removing some stay at home provisions, some more generously than others. we got word that new york governor cuomo is considering staggered reopening, reopening manufacturing and other sectors in the up state region, decidedly more rural than down state, which includes manhattan, five boroughs.
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that could be delay ad little bit. may 15th, on time could be pushed back a little bit for presumably that portion of new york. he doesn't spell it out. the fact that he was talking about maybe having the state sort of bifurcate a little bit open up sooner up state than down state, saying the may 15th deadline is moving target for down state that includes the world's financial center and that is going to be a big issue. we'll see how all of that goes. we'll hear very soon from new jersey governor phil murphy. remember new york, and new jersey, much like connecticut, pennsylvania, massachusetts, rhode island, and delaware are among those states that will sort staffinger in kind if you will. they're keeping to the same rough schedule. whether the garden state, which is the most densely populated state in the country subscribes to the same rules as new york might be considering is anyone's guess. new jersey, like neighboring connecticut and new york, opening up many of its marinas.
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keep with their boats couldn't go from one state to the other. we'll get word own that from the new jersey governor shortly. meantime tracking all of this with these expanded options being considered for states and where the administration stands on all of this, to blake burman on that. hey, blake. reporter: hi, there, neil and the states are in the center of what potentially could come next as it relates to help for the economy and a phase four package down the line. the white house saying today that the white house does support more additional funding and that options will be presented to the president but there has been a question of exactly how to help out states going forward and exactly what does the white house and president trump support? last week he talked about support for the states. at the end of the week he didn't really want to get into that conversation. so there was a question, what does the white house want? i'm told from a white house official, neil, that the president does support funding and help for the states but what he doesn't support is a bailout. this is tweet from the president
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earlier this morning quote, why should the people and taxpayers of america be bailing out poorly run states like illinois and as an example and cityies. in all cases democrats run and managed when most of other states are not looking for bailout help? i am open to discuss anything but just asking. a senior republican aide that mcconnell wants to hit the pause button on funding considering more than 2.7 trillion has recently been signed into law. that aide telling me mcconnell wants to it will focus on executing the 2.7 trillion. as i said multiple white house officials are touting need for more funding. one of the president's top economists this morning all but shut the door on idea letting states go bankrupt. >> but my understanding is that the intent of the constitution that states aren't allowed to declare bankruptcy but they can, you know, go through tough times. then have to go reorganize their
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finances. i'm not exactly sure what senator mcconnell was talking about. reporter: we will be hearing from president trump later today. it will be at a 4:00 meeting when he sits down with retail ceos. we will not hear from him at one of those late afternoon coronavirus task force briefings because the white house canceled that for today. there has been a lot of questions, some criticisms directed towards the president from even within his own party about these late afternoon briefings. press secretary kayleigh mcenany said they will look, quote, different ways to showcase this president leading. she says the briefings will be resuming at some point later this week but today that traditional late afternoon briefing or at least what we've come to know of it, neil, not going to be happening. neil? neil: all right. interesting. very interesting. blake, thank you very much. blake burman here. we're also monitoring the two big state governors. of course new york governor andrew cuomo and new jersey
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governor phil murphy. they have the first and second largest number of coronavirus cases in their respective states. the news out of new york was that governor cuomo will extend the stay-at-home order beyond may 15, likely in many parts of the state that would include downstate, new york city metropolitan area, that is being closed, but will bring back sooner rather than later upstate, manufacturing facilities where things are not nearly as dangerous as viruswise. or around the new york area. haven't heard as much as it just started with the new jersey governor, we'll follow that very closely. at least half a dozen states are beginning to inch back i would hardly call it normal. as you look at the new jersey governor right now. right now something resembling a bit of way we were but hardly
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the way we were. the latest from jackie deangelis. jackie. reporter: we're waiting for governor murphy about the reopening plan, you mentioned new york, governor cuomo, the slow phased plan, trying to ease into it to make sure we don't see a spike in cases but for new jersey, he said there is a chance, governor murphy, that schools could be reopen before the end of the academic year. that is pretty aggressive by a lot of different accounts. no details given but he is talking about physical learning, for example, in classrooms, not virtual schooling. he did acknowledge classrooms will have to look different. new norms what is acceptable, social distancing, probably no assemblies or gatherers. one of the questions if new jersey schools would demand children wear facemasks inside? that is something they're talking about. all decisions very fluid and all in the conversation stage before any kind of official announcement is made but new jersey has done this,
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starting today, five city parks are going to reopen. that would be first step to kind of getting open again. they're all in jersey city, which is a central hub, not that far from new york city. there will be limited hours. but the staff will come back. they will monitor are people social distancing properly? are they staying away from engaging in group activities? that kind of thing isn't allowed right now. what we're seeing in some states especially as weather is warmer and people start to experience cabin fever, the ability to let people go outside a little bit more but do it more in a controlled way. see if that can serve, as model, for example for the rest of the business community and other work place environments as well. there are still questions about whether this will work or not. so many eyes on georgia, for example, that is taking a more aggressive approach to see how this all goes but no one knows for sure, neil. neil: all right. it is big news. that is the new jersey governor exactly to your point, jackie, considers reopening schools.
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there is not that much more of the school year to go. if he were to do that that would be a big development in the garden state. we'll follow it closely. jackie, great reporting as always. companies are trying to get back to business. i told you about tesla wanting to reopen a plant where a lot of restrictions are still in effect and besides just the states that are doing this, we're also seeing a lot of them have taken precautions now to sort of hoard their cash. that will be a very, very big theme for a let of companies trying to find any way and every way to hang on to that money. whether it means in the case of gm, and a host of others looking to scale back dividend, others looking to go ahead to hang on to as much cash as possible. if it means selling some stock to do that. there are at least a dozen prominent names in the mix. let's get the read from rebecca
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walser right now. when you suspend a dividend, of course, you're really grasping at this point, i guess, rebecca, for harnessing all the money you have available. it could also frighten off a lot of investors who like the cash. how do you see this going in the weeks ahead? >> neil, you're 100% right. obviously with the actual factories being closed and a lot of costs being sunk, for example with, test l.a. it costs them $300 million a week of cash burn not being open. gn is no exception. people not producing cars, it is a cash burn. obviously a dividend cut or suspension if you will, will restore some of the capital that would otherwise be going out. they will not continue with the stock repurchase plan right now. they did make a point, neil, they are committed to having 20% reinvestment even this year back into the company. this could be a short term thing but obviously does make investors get spooked a little
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bit. neil: were you surprised, rebecca, hearing out of government cuomo, i wasn't shocked by it, not the staggered opening for new york, i get that. upstate is largely rural and not impacted what is happening with the concentration of cases downstream which includes the new york metropolitan area but he could push back presumably for the metropolitan area the may 15th so-called deadline where we would keep these home restrictions and these distancing restrictions in effect maybe beyond that? that essentially delays wall street, essentially reopening. that we have done a lot virtually. the very fact we're trading, doing what we're doing, companies still report, i get that but what do you think the impact of that would be? >> you know, neil, i have to say, i really am starting to have a big problem from a economic perspective. i really feel at first we had to stop and listen to the medical science professionals and say, okay, this is a brand new
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disease, virus, we don't know the impact, we don't know the spread or the rnot or the multiplication rate of spread. all those things are unknown. a university of washington study came out showed, unbelievable one to two million americans passing away. so clearly, exactly as strong actions had to be taken. now the data and science is coming out, letting us know that study is not correct and the numbers are very off. in fact i read several articles this weekend by he medical professionals and scientists saying this gross, total stay at home could actually, impugn our ability to deal with this virus because nobody is being exposed. so we have so little people actually able to withstand an actual, encounter with it, without getting sick. so if we're actually doing the opposite when we should be doing, listen this, is the fact. we cannot have our country and run an economy if we cannot get back to work. that is the bottom line.
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you talk about all the states will go seek bailouts from the federal government. where is the federal government coming up with the tax revenue? where is the mon any of coming from the federal government? we, the government creates nothing, neil. the government transfers from those that produce money to those that do not produce money. they're very good at doing that. that is called taxation. we have to have economy running in order to actually charge people taxes. i think if science is wrong, apparently been wrong this entire time, let's really start to question these truly, strict, almost barbaric stay at home do not work at all, close down your whole country. it is time we have to have the science question this, because this is, economic suicide, neil. it is economic suicide and we cannot get this economy back unless we get back to work. neil: that is well-put. rebecca, always good catching up with you, thank you very, very much. >> thanks, neil. neil: rebecca was saying
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something peter navarro -- thank you, rebecca. the white house trade advisor told me over the weekened on my weekend show, "cavuto live," he said there is a flip side to keeping people at home, quite a dangerous flip side. take a look at this. what do you think of georgia east moves? the president, who is open to states getting back to business was concerned georgia was moving a little ahead of its skis, do you agree with that? >> we know for a fact that the virus kills directly. we know for a fact that shutting down our economy has destroyed jobs, it caused enormous stock market wealth cost, which goes to pension funds and doing tremendous economic damage, but the more subtle problem, which is a serious problem that comes into the calculus, neil, the fact that economic disruptions kill as well. neil: all right. peter navarro on the issue that economic disruptions kill as
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well, not just economically but lead to whole other health related problems. there is big back and forth in the medical community. to liz peek, how she feels about all this. the sooner we get back to work a lot of folks say better off we'll be, there is view expressed by some on the health care task force, don't rush it, mr. president. where are you on this list? >> i think we all have considered from the beginning this had to be a gradual and sort of careful reopening, neil and i think that is what you're seeing in the states that have decided to open certain kinds of businesses, keep certain kinds of people still safely sequestered in their homes this has never been a all or nothing proposal. there have been now 65 announcements around the world of countries and states opening up. not one of them has said, okay, now we'll have rock concerts, we'll have restaurants at full capacity, et cetera. it is a staged thing. but, i agrew with your former guest.
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what we've seen, over the last week is some studies that indicate the fatality rate of this disease is much, much less than it was expected to be. so you combine that with the fact that we've learned how to social distance, businesses are trying to be careful in reopening, i think we have to move forward and that's what the market is telling us. people are optimistic that we indeed are going to be moving forward. neil: indeed, we're already seeing that in mississippi, tennessee, alaska, georgia, colorado, arkansas, south carolina, all varying degrees reopening a good chunk of their businesses not all of them but you certainly have to crawl before you can walk but i did want to get your take on practicality of businesses getting back together. bloomberg talked about
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conundrum, brokerage hours, investment banks, how they will get customers and workers in an elevator? they're looking elevator attendants. people who will count how many in the elevator, unless very big elevator, two people would be violating distancing provisions but stuff like that. the cafeterias that they have for the workers that are pretty tightly crowded. brokerage houses, investment banks have their traders lined up very tightly-packed in trading rose as you're quite familiar. i'm wondering about how they institute all of that, and how long it takes? i know one, might have been goldman sachs, i hope i'm not misquoting the article, where they talked about opening with 10% of the workforce, 20% of the workforce, give it 14 days, 30% of the workforce, 40%. this is a long haul, liz. that is conclusion i have reading this, it's a long haul? >> i think you're absolutely right.
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what i'm hearing from banks and financial institutions they will not invite people in except, very, very slowly and carefully. guess why? everyone is working from home and it has been discovered that it works okay. they're getting deals done. people are communicating with each other across, you know, the platforms and across the country. it's not ideal but i think, i think a lot of these financial institutions are very concerned about inviting people back in and putting pressure on them coming back to work. that is just not going to happen. if you want to go at some point, yes, but most are talking june or july opening, neil. that is what they will do. they can do it. a lot of businesses can't. neil: all right. we'll watch it very, very closely. liz, i want to thank you very, very much. >> thank you. neil: howard schultz, the founder, guy behind starbucks how they will deal with this when we get people back,
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distancing provisions and all that. new york already put off its june 23rd presidential primary, many have, bunching it back almost to the august convention as things stand now. it's a mess, but sort of an an orderly mess. there is that. ♪. now more than ever, you need technology you can rely on. and people you can rely on. i'm a dell technologies advisor. me too. me too.
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neil: sure can be confusing to keep track of official reads on this whether you're talking about social distancing guidelines in effect in places like los angeles and texas as they try to get a handle on this, in new york, but we get different reads on that. the vice president saying over the weekend he thinks maybe by memorial day weekend we'll be through a lot of this. all of sudden dr. deborah birx, comes along, says these provisions might be in effect for a few more months. we have the odessa texas, emergency medicine specialist. always good to have you on. if you were alone, doctor, were advising people on distancing rules, would you be in the
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dr. birx category, keep them going for months more, or what seems to be others who are looking to reopen cities and states, maybe try for a month, whatever, let's see how it goes, your view? >> well there is a few things i'm looking for here in the emergency room is, as we start to open up things i want to see what is going on with the cases. are we getting more cases? what is happening with the mortality statistics. what is interesting now in many areas across the nation volumes have gone down. i'm interested if in 2020 we have decreased mortality, because less car accidents and crimes and things like that. i'm also interested in human behavior as we go on, we track that in the emergency room. emergency director of oy desis a, we're involved in the operations center.
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there we set up testing. there will be drive-through testing, as we get the testing results another thing i will be tracking is the fatality rate. so what you're hearing now is the cfr, the case fatality rate of people who present to the hospital and what is their fatality but what we really want to know is the ifr, the infection fatality rate. so of all the people at home who don't come in and they're infected, what is their fatality rate so we can get a true number? that will really help us. as we get the testing, we can get hot spots and figure out the trace contacts and do focused openings and do this in a calculated manner as data comes in and as an iraq war veteran myself i'm interested in the mental health ramifications and we'll be tracking this here at mercy medical hospital. at the end of all this, i hope this is catalyst that just improves our entire health care
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system, whether it is quality, access, cost of care and, i know the number one thing i'm really looking forward to, is from my iraq experience, in these intense moments you see such acts of heroism and amazing human spirit coming out. we're going to see that here too. neil: well you're an example of that, young man, so i will leave that aside. i will talk a little bit, from your own experience in iraq what have you, about how people readjust. i mean obviously we talk about everyday practical considerations how many can fit in an elevator and how businesses will deal with that, how you slowly bring people back, and who you bring back. these are going to be tough questions for a lot of people who right now are very anxious, not only about getting back too soon, and whether the virus spikes again, but their own job security. so how do you balance that? >> well, at least, from my
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experience, from working with soldiers with posttraumatic stress, i think, humans are resilient and this is tough for many people. the economic conditions, losing your job, relationships are strained stuck at home. people, kids are getting stressed with, no school, no sports but i think as we open up and things gradually open up, humans are resilient. they will overcome this. but it will be a gradual process. you know, i am happy to discuss that in further segments. i think there is many things we can do there to also facilitate this. neil: doctor, thank you very much. you're always can up in a storm, as you have been on the battlefield and on this medical battlefield. doctor, thank you very, very much. we have a lot more coming up including howard schultz would like to see if the future we're unwinding, getting back in restaurants and stores then,
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♪. neil: all right. we've been following new jersey governor phil murphy who is speaking to reporters right now, or he was a little bit earlier here. that is not him. he said i don't know when we'll be able to start this journey to reopen the state but he did lift guide lines he will likely use to determine that. among them a sustained reduction in cases. the cdc recommends at least 14 days of consistently declining cases. he wants to see expanded testing, something else the cdc recommends. ismly meant robust contact tracing. those exposed to, or in contact with those exposed to the virus, have a better count on that. a secure, safe places for
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isolation in case there are new jerseyians who do return to work where they can be isolated, quarantined, how that would be handled. get that settled and done, he didn't present any specific numbers. he is confident the state can reopen. if new york governor andrew cuomo was any guide, while he will do that in stages in his state, he seemed to put off that may 15th opening to unwind the stay at home provisions at least in new york city metropolitan area, westchester, what have you, past that point. we don't know how much past that point but we're following it all very, very closely. you're getting used to this shot not only of times square, avenue of the americas outside of for example offices. it has been a ghost town better part of the month. the goal is to get people gradually filling that up. the interesting read, a lot of investment banks are saying
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this, do it a little bit at a time. this comes from investment banks, might entertain bringing 20% of the their people back at first, then 30%, 40%, with 14-day interval gaps between each return of folks? now that is just an idea they have been batting around. but it is interesting to note that venturing those empty streets will start getting a little more crowded but a little bit more over time. edward lawrence on these developments and restart for the small business paycheck protection problem that will ensue big time i imagine today. edward? reporter: exactly, the payroll protection program started up little over two hours ago. we're hear about glitches from the small community banks. they complain they can't connect to the system to process through small amounts that they have. this is off and running. the first tranche of money ran out in 14 days. this program opens under new rules. because of that new rules, 13
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large publicly-traded companies are returning $170 million. some smaller publicly-traded companies will say they will keep the money. under the rules that is allowed, however businesses will have to certify that they have in good faith need the money and don't really have access to any other sources of funding. the small business administration saying it is unlikely most large publicly-traded companies will qualify for this. some other interesting things under the rules right there on the screen, agricultural producers, farmers, ranchers are eligible. the money covers employees vacations and sick leave. hedge funds cannot get loans but hospitals can, and if they meet requirements and get less than half of funding from state and local governments. that does not include medicaid. they say they may not need more funding after the program returnses out the second time. >> all those in line already filled out the application, process those first, be able to get those out the door.
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not-for-profits, to be able to get things processed. we don't know how long it will take. it was 14 days to go through 350 billion. 1.7 million companies entities took advantage. we expect about the same number again. reporter: senator lankford went on to say that he believes the economy will reopen in the next eight weeks enough where we won't need anymore money going into this. $600 billion will be given out in the first and second round of funding for the payroll protection program. back to you. neil: really is staggering what you think. all the monies involved. thank you very my friend, very, very much. edward lawrence in washington. happy to have howard schultz with us right now. you know him, the former chairman and ceo of starbucks. he has expressed concern too not only how they roll this out but what role maybe the federal government can play here, to sort of help facilitate all of
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this. howard, very good to have you, when you were talking about the federal government has to do more, what specifically were you talking about? >> well, thank you, neil. with all due respect to senator lankford and the republican senators who believe that ppp one and ppp two is enough, they're unfortunately very, very wrong. there is 30 million small businesses in america in which there are 500,000 independent represents. those small businesses represent 44% of the overall economy. they will not have enough money after ppp runs out for those that were abe to get it, most of them didn't, to reopen in a, in a world in which they will only have 25, perhaps, 50% of their revenue, because the revenue that is coming back after they reopen is not going to be the way it once was, it may not be again. as a result of that, the resources that they need, the money to reopen, the retraining,
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the new rules and regulations, they operate on a month to month basis, very thin margins, and as a result of not getting enough money to sustain in a world that business is not going to be the same, we're going to be facing a situation by labor day, in which probably 20 to 30% of all small businesses and independent restaurants in the entire country are going to be forced to currently close. that will be a significant, significant, level of unbelievable situation in the country that we have not seen before, the likes of which will be much, much greater, than if we take a long-term, thoughtful approach to saving these small businesses in every community in america. now, i come at this having built a global business from a small business. we had 11 stores in 1987. if starbucks today was faced
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with a similar situation, that these small businesses are facing, we would not have made it and we're talking about many of these businesses that could potentially be the next starbucks of the future, to represent a national brand, to build a company with thousands of employees. these companies are not going to have a chance. the last thing i would say, we're talking about 30 million businesses but these are 30 million entrepreneurs, families, hard-working american people. i talked to so many restaurants and so many independent businesses over the last few weeks. ppp one and ppp two is just a short-term bandaid will run out of money next seven to eight weeks. when businesses reopen, they will be forced to close by labor day. they will not be able to sustain the level of business that they currently have which will be much, much less. neil: what do you do, howard, what do you do? if we're in that situation, what do you do? obviously states are making an
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argument they need money from the federal government to stave off bankruptcy, a recommendation mitch mcconnell had, every sector, from airline industry, casino industry, can make a compelling argument for funds. there is only so much in the federal government, right. >> that's true, very true, neil. there is so much. however, let's bifurcate the argument. what is the cost of not doing it? much, much greater than the investment to do it. i'm not advocating free money. i'm advocating a long-term, low interest loan under section 13,ed fed has emergency powers to provide a backstop for the bank for every small business. if you would take 25% of their revenue, that they have had in the last 12 months and provide that in a low-interest loan, coupled with the amount of business they will have when they reopen, that gets them to about 50 or 60% of parody, as a result of that, the majority of those businesses could make it. and they will have the ability
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over a long-term basis to pay that loan back. but if you don't do this, and i hope you play this interview back in september and october when we see economic carnage, apocalyptic, in terms of number of businesses going out, the number of storefronts boarded up, millions of people now on unemployment as a result of the government recognizing, unfortunately they took a short-term approach to a long-term problem. neil: all right. we'll watch closely. i hope you're wrong on this howard. you've been prescient on a lot of other economic developments. on this, i hope but we shall see. the howard schultz. wish we had more time, my friend. i will pursue this with number of other guests as the show continues. howard schultz, the spy -- guy who made starbucks mult it billion dollar institution. he is right, if he started with number of stores he had way back when it would never happen in
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neil: all right. despite, if you think about it better than $700 million going into the paycheck protection program including all ancillary monies provided including this latest wave of financing, if howard schultz the former starbucks chairman and ceo is right it, won't be a enough, and a lot of those same small businesses requesting aid simply won't get it or will be on tenterhooks by labor day, when a lot of them will be out of business. a bit of a dim view. our charlie gasparino was among the first to report, a lot of money meant for small business was not going to small business. it was going to a host of other folks. he joins us right now. charlie what do you make of that, howard schultz not convinced this will be great cure. what do you think? >> howard schultz is pretty plugged into the banks doling this money out. he obviously runs a franchise of small businesses so to speak in
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his starbucks. so he knows, you knows what he is talking about i would say he is basically right. i'm sorry. used to. synonymous with the brand, i'm sorry about that. neil: you're right. >> here is what i know from people, people inside the, inside the big banks who have to dole this out and what they're telling me is this, this money will be gone within days. the last one took about a week or so. one of the reasons why is because on the bank end there was some glitches in terms of their technology. also the rules were rolling. there were some banks that weren't involved at first. wells fargo couldn't dole out the loans because federal reserve was preventing it from doing so because it had some capital requirements it had to comply with regarding the fake account scandal. so it was sort of a work in progress. now what we have, basically everything set up. what we understand is that this money this, extra, whatever it is, 200, $300 billion, i know we
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sound like, i'm making like it isn't a lot. i guess it is a lot, in the scheme of things but compared to type of stimulus is needed, howard is exactly right, this isn't a lot of money. compared to fed stimulus to prop up the financial system, talking tense of trillions on that end. they're talking about 600 billion on this end. we're talking about a hole much larger than that. on top of it all, neil, the money will run out. on top of it all there are still loopholes who can apply for this. the treasury department wanted to make a point saying hedge funds can't apply, if you read the guidelines doesn't exactly say that if companies like hedge funds are profitable, for this, they don't deserve it, they should give it back. or if they're not in need. you know, these are sort of broad, sweeping, statements and what we do know is that financial firms are still
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applying. we do know that independent advisors, brokerage firms, many brokers, people, our viewers that have a broker, often brokers do not work for merrill lynch, some of the big companies, big banks, they are independent advisors. these folks are applying for the loans. now should they apply for the loans? i can tell you that their trade group, the independent advisors organization, i called, they are giving no guidance to their members really if they should apply. they're telling them how to apply. then it becomes moral question, should they apply? these are folks generally making fee income on depressed assets. assets have gone down in value since the pandemic market collapse occurred. these assets gone up recently as the fed liquified the market the. the real question should they be going in there doing this, and they are doing it. so those are the obstacles the treasury is still has, i'm afraid to say howard is right, the program will run out of money. it is wrong enough panned still getting into the wrong hands.
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neil, back to you. neil: charlie gasparino, thank you very much. on that, also looking at businesses now that can reopen, particularly in georgia. a few run as great and well-regarded fitness studio. here is the problem though, getting customers to come back. apparently a lot easier said than done, after this. for many of our members, being prepared... won't be a new thing. and it won't be their first experience with social distancing. overcoming challenges is what defines the military community. usaa has been standing with them, for nearly a hundred years. and we'll be here to serve for a hundred more.
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neil: here is good news of georgia, a lot of businesses are opening. here is mike who runs body flex fitness owner there, a very well-regarded establishment where people want to get fit, getting customers to come back. he joins us right now. mike, good to have you, how are you doing? >> hi, neil, how are you? neil: good, very good. i understand it is a great facility, well-regarded, they love you. now that you're open, you made combinations and adjustment to fill the facility, but getting them in the facility, right? getting word out that you're back, right? >> yes. in the grayson club, which is in grayson, georgia, hour from
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atlanta, 70 checked in on friday. the way we look at it, this is kind of a soft reopening so we just, we want to be there for our customers and we also want to kind of serve as a role model for other small businesses that they have employees that have, you know, children, have to pay their mortgages, have to pay their rent. so we're trying to ease back into this extra precautions. so we're doing a lot of things within the club, actually, keep our clients and customers safe. neil: that includes, i know you wipe down the equipment. a lot of people get very leery. they wouldn't have thought of this in the past. i don't know who used this equipment before me and what do you do to address that? >> we're doing multiple things. number one, you have to wear a mask to get into the facility. when i was in grayson on friday, we turned away two members, so they could not come into the establishment.
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now, most members are very understanding because they're just happy that we're open. but also we hand out a sanitizer bottle to every single customer who comes in. we encourage them to wipe down the equipment before and after they use it, plus our employees are actually going around and wiping down equipment, you know, frequently. and then we also have a hydrostatic pressure sprayer that we purchased. we go around and basically spray all over, saturate all the surfaces. the ironic thing is, if you go to a walmart or a lowe's or any of the grocery stores, they're not sanitizing anything, people are walking around without masks. so our club is probably cleaner than those. neil: good point. finally what do you think of the criticism the georgia governor has been getting for even doing this at this time? so far, seems to be working, your quick thoughts? >> i think the biggest thing is to be very precautious and you
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know, keep your guard up at all times. so, the things we're doing now with the new normal and so we're just going to keep on doing it. and we'll keep our clients and customers safe. and we're going to work diligently cleaning equipment, sanitizing and welcoming our customers back on a daily basis. neil: very confident it will work out. mike, best of luck to you and your customers and your staff. these could be very promising days indeed. mike marchtino. the doors are open, taking a lot of precautions. that is the rule of thumb. could be attractions how it is properly done. you're watching fox business. eld what the recently passed economic package can mean for you.
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i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. neil: all right. markets are enjoying a strong start to the week. it looks like it could be a very very strong april when all is said and done. we are a few days away from that but suffice it to say all these states slowly reopening including mississippi and tennessee, alaska, oklahoma, georgia, colorado, arkansas, south carolina, in varying, varying degrees, what's interesting about them is the cases and states that are opening this week, again, in staggered form, is that they are
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doing it in a very careful, organized fashion. now, it's interesting to see that it's almost evenly split between republican and democratic governors who are taking very very similar precautions. in texas, they have been so cautious that the republican governor has been getting some heat from protesters that he should move even more quickly. casey steagall on the restrictions that are being lifted, those that are remaining in place. he joins us right now from texas. reporter: yeah, neil, following all the drama over the weekend, there were more protests here in texas, people saying that governor greg abbott isn't getting the economy open fast enough, as you said, so really, some mixed feelings among business owners and employees themselves. remember stores were able to open last friday, you and i spoke, and in this retail-to-go capacity and that happened, and the customers ordered online, pay and then have -- drive to the store and have it put into
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their car. some are happy to see it up and running in some capacity, they say. however, they say that other texans of course have been critical of the governor's timeline. we want the show you video if we do have it from those protests. a lot of them gathering at the state capitol over the weekend, saying that, you know, this really is going too slowly and that they want to get back to work. a lot of people holding signs, calling for all texans to get going. a dallas salon owner tried doing just that over the weekend but listen to this. she was given a citation for opening too early because hair and nail salons are not yet open here in texas. listen to her. >> everything's -- they are all looking at each other saying what do we do and this is unprecedented. if they want the lock the doors, i will put chairs out here and my stylists will work on the patio gladly. reporter: gladly. she was not happy there. listen, texas governor greg abbott is holding a press
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conference this afternoon and he's expected to lay out what the strike force has deemed the next phase of reopening and a timeline should be set. we are on top of it and will obviously keep you posted on how things go. neil: thank you very much. in just a moment we will hear from fellow texan karl rove and how he thinks things are going in the lone star state with that. in the meantime, jackie deangelis on the liabilities that companies could have maybe to a larger extent other organizations could have if they reopen and workers get sick or worse, die. then what? jackie, you have been looking into that. it could be a real issue. jackie: it is. it's a real question. people are asking it right now and they are thinking if a person gets infected with covid-19 and is really ill or as you said, possibly perishes, can that person, can his or her family sue to recover damages. let's think of some scenarios here. for example, as states are getting back to work and businesses start opening, if you
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think you've got covid-19 on the job, for example, because your employer didn't have the proper procedures in place or potentially the proper ppe, you may want to sue. another could be if you are a patron of a business or store, right, if you think you went to the nail salon or the gym as your previous guest was on and you think you got it there, businesses are worried about this liability associated with reopening and are saying the federal government has to do something to protect them. jay timmons, national association of manufacturers president and ceo, said this about the issue. >> employers are going to do the right thing. they are going to do everything they can to make this thing -- to be able to keep their employees safe. so liability protections will ensure that they can do that and feel confident that they can keep their businesses going while keeping their employees safe. jackie: some say without this kind of protections in place as business owners, they are hesitant to reopen. they are worried about it.
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but the opposing view is saying look, all of this is being exaggerated to weaken worker protections. the network president for the center of popular democracy said this. >> we are strongly against, strongly against any legislation that would allow businesses to escape accountability when they operate in an unsafe manner and cause their workers to risk additional infection. jackie: two sides of the coin on this. larry kudlow, the national economic council director, told fox business on friday that businesses shouldn't be held liable if they do adhere to guidelines and an employee does get sick. we spoke to the white house to get an official stance on this from the administration. they directed us back to kudlow's statement and said that it's something that's seriously being considered. but remember, neil, when it comes to liability, you have to be able to prove, number one, for example, that you got
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covid-19 at whatever location you're claiming and that there was negligence involved there and that standard is very very high. back to you. neil: jackie, thank you very much. want to go to karl rove right now, bestselling author, former adviser to president bush, as you know. karl, it is an interesting issue that will come up. i mean, invariably when people do get back to work, there will be a spike in cases that you obviously want it to be contained but they have to weigh that and i get that. how do you think this is all going to go, especially where you are right now? i think you are in austin, texas, and there is a slow plan, you know, returned to work, return to opening businesses, very orderly staggered schedule, i get that. will this be a worry for states like texas? >> well, texas got a pretty good tort litigation climate. other states do not. i understand the fear of a number of businesses because look, it is difficult to prove this. how do you prove that you got it at this particular instance and was there negligence involved. but a lot of cases will be filed
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even though there is no proof of where the individual got covid and where there's no negligence because a lot of what the trial lawyers do is make it so expensive to litigate, that companies and their insurers would rather settle. we have seen this time and time again before. file a lot of lawsuits, then the lawyers walk in and say look, we can make all of this go away if you set up a fund that gives a small amount of money to each one of the members of the class and we, the lawyers, get a big chunk of change. that's how this game, that's how the trial lawyers play this game. i expect no matter what happens, whether there is federal legislation or not federal legislation, that this is likely to happen. the likelihood of federal legislation i think is very small because the house democratic caucus is owned lock, stock and barrel on these kind of questions by the trial bar. it's one of the biggestdemocrat. they won't let the house democrats get behind such a measure. neil: you know, karl, before you
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go, i talked to howard schultz, a host of other types in business and the medical community talking about what the federal government can and should do. you heard governors say it's not necessarily bail us out, give us a lot more money. each and every sector of the economy could make a compelling argument for needing aid and a lot of them already got it. airline industry, hospitality industry, casino industry, energy industry, and now, you know, backing some of the states while not, you know, whole but they want a lot of money. i'm wondering, we are in the middle of this now and will throw anything that will stick, but there are enormous financial implications and debt to consider from this, are there not? >> well, absolutely. look, we have had to do things that we would not in the normal course of things be prepared to do, but we had to do them because we are in a unique situation. my sense is that congress will grant some money to states and locals but the question is how much and you know, what kind of,
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you know, what kind of constraints are there going to be on the expenditure of those funds. some states were in reasonably good shape going into this. others had long-standing difficulties like illinois with its pension problem and new york with its overspending. so how do you judge all of that? do you give everybody the amount of money they think they need in order to become whole? then you are going to be penalizing states which have restrained spending and kept their pensions in check and done the right things with regard to looking out after the taxpayer dollars by giving them less per capita than you might give people who are bad actors. but there is going to be something. i do think at some point, the american people will sort of wake up and say can we afford the rest of this. i had an interesting telephone conversation recently, friend of mine's mother lives in south carolina and she got her $1200 and she is in an assisted living home and up in her bank account shows $1200 from the federal government and she says why did they send it to me?
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i don't need it. so she's trying to figure out what she ought to do with it. what she decided was she would take that $1200 and give it to the person who brings her newspaper to her, the person who checks in on her, the person who brings her food, the person who takes care of things around the apartment, around the exterior of the apartment. so she said i'm okay, i planned, you know, she lives on a modest, she was a single mom, she's in her 80s, she's got, you know, an outgoing style of life, a wonderful personality, but she said i don't need this, why are we giving me the money that my granddaughters are going to have to repay so she's trying to figure out the best thing she can do with it. at some point a lot of americans will say really, have we done enough, do we really need to do that much more, what kind of debt are we creating that we will pass on to our kids and grandkids. neil: yeah. we got to think it through. i know we are in the middle of anxious times but eventually, there will be a full accounting for this, quite literally.
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karl rove, thank you very, very much. karl rove out of texas right now. there are a lot of businesses that want to see some help here and again, they come from all states and forms. in new jersey, there's an operation called new jersey classic boat rides. it's a fascinating business but again, you charter a boat, go around and see all the sights and all. the trouble right now is the marinas are open but the boating businesses, they are not. it's kind of a little screwed up here. but the captain joins me via skype. do i have that right, marinas are open, not only in new jersey and connecticut, new york, so they can go back and forth, but the industry like yours, that's still not open, right? >> that's right. the charter and for-hire fishing boat industry is closed. so many of my friends that fish for striped bass this time of year can't fish. we do the tours and sightseeing
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and we can't do any of that. so what we're looking for is hopefully to get some guidance and direction from our governor murphy to allow us to fish with certain restrictions or guidelines, i.e., wearing masks, sanitizing the bathrooms after each use, you know, safety precautions that make common sense and allow us to sail and carry passengers safely and soon. neil: how many can you -- i know you have a lot of boats. how many can you typically fit on a boat? it's obviously going to be fewer once you are allowed to return to the water. can you give me an idea? >> well, on the paddle wheel boat, we can carry 150 people. so we would expect to carry less than that certainly during this time. but let's say we carry 40 people. we could have them all spread out throughout the boat,
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practicing social distancing, wearing masks, maybe make the trips shorter so people wouldn't get hungry and have to eat and take their masks off, things of that nature. for the fishing trips, those guys, they could easily separate on the deck and along the rail so people can fish. i don't know about you, but every time i have gone out lately to shop, i haven't heard anybody coughing in the stores, haven't heard anybody outside coughing. i think people that are sick are staying home. obviously the virus has as they sfroo has 14 days and you can still spread it. if we were in a crowded space inside an office or store and somebody sneezed without a mask on, that would be kind of scary but out on a boat in the open air, hopefully you would have a mask on and the likelihood of getting the droplets or whatever would be decreased from being inside a closed space or store. i mean, if you can shop for your
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supper, why can't you fish for your supper? that's what i'm thinking. neil: all right. well, you raise a number of good points. it is the weirdity of the staggered nature of this, the marina consist s can be open bu can't be. it is what it is. we will follow your case very closely. thank you very, very much for joining us. meantime, the market has a funny way of showing if it's worried about these developments. there will be a day the captain will be able to go back to work and a host of others like him because the process is starting now in a half dozen states. by the end of the week, close to a dozen will be in one way, shape or form, undoing provisions many of which went into effect about a month ago but are starting to ease up. stay with us.
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neil: can you imagine if something like this happened in our country, the leader of our country has disappeared and no one knows where he is, what happened to him. in north korea, it's sort of standard practice. we have not known of his condition or fate for the better part of a week right now so a lot of people are starting to
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a ask, well, is he okay, did he die, did someone, you know, harm him. all we get are reads out of south korea where they are officially saying right now the health rumors and all this other stuff, a lot of it is untrue but again, how would they know, how would we know, how would anyone know? jean lee is the director of the korea center. it's really weird. you know this very well, far better than i. i was just thinking if it was a major western nation and its leader just disappeared from the scene or didn't show up at a huge event, you would notice so what's the deal? >> it's been more than two weeks, actually, since he last appeared. you know, the leader, the north korean leader's daily schedule is not published by their press office like the white house puts out the public schedule for the president, so we don't know where and when he's going to pop
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up. i worked in north korea for three years, i ran an a.p. office there, and my staff was not allowed to tell me when we were going to be with kim jong-un. we had to come up with code words. they had to come up with code words to tell me that i should be prepared to be with kim jong-un. so it's his absence that always tips us off to the possibility that something might be amiss. as you mentioned, he would show up to an anniversary, his grandfather's birthday, and he's shown up for that and laid a wreath every year for years and said what we really need is for him to come out in public with a public appearance or some video showing that he's alive and well, if he truly isn't as south korea is saying. neil: i don't want to be macabre but say he's not. say something happened or he could even be dead. what then? you hear a lot of talk about his sister. do they have such contingency
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plans? what are they? >> so i have been through this, i went through this in 2008 when his father, kim jong-il suffered a stroke, was in a coma for weeks and we didn't know. again, in that circumstance, it was the fact he didn't appear at a military parade that tipped us off to his illness. and what the country did was really go on lockdown for months while he recuperated and while they came up with a succession plan. it was in that period that kim jong-un started being revealed as the heir apparent, was being groomed. that give kim jong-il, his father, a couple years to train and groom his son and prepare his people for that next phase of leadership. so i think we will start to see if this is indeed the case that kim jong-un is not well, they will go on lockdown and try to prepare a succession plan. but the big concern here is that
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it does not appear that anyone is willing to step in from the kim family and take over leadership. that certainly has everyone in the region concerned. it's a poor country of nuclear weapons that don't want that kind of instability in the region. neil: yeah. it's amazing, to your point, we are actually arguing back for the stability he might have provided or still provides. they miss that. it is a weird world. thank you very, very much. jean lee with the wilson center for korea programs, director there. if we find out anything, we will let you know. in the meantime, we are focusing on the states not only reopening but the businesses that are planning on getting back in groove. you heard the talk about tesla wants to reactivate its u.s. factory but in that particular region, they still have coronavirus restrictions in effect. he is ready and raring to go. he's just a small single example. there are dozens of others that have plans and businesses also ready to go. after this.
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amazon packages, but he is now threatening to withhold aid or cut back on aid for the company. it's a mess. i don't understand it. fortunately, hillary vaughn does. hillary, what's the latest on this? reporter: hey, neil. all this started because the u.s. postal service is getting crushed by the covid-19 pandemic so they are asking for federal relief cash. the postmaster general saying the pandemic has had this impact on their services, saying quote, the sudden drop in mail volumes our most profitable revenue stream is steep and may never fully recover. we now estimate the covid-19 pandemic will increase the postal service's net operating loss by more than $22 billion over the next 18 months and by over $54 billion over the longer term. there is relief on the way, but it could come with strings. the cares act allocates $10 billion in a loan for the usps but the president says he wants to see them hike prices first to compete with amazon and the private sector before he hands
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over the cash. >> this thing's losing billions of dollars. it has for years. because they don't want to insult for whatever reason, you can imagine, they don't want to insult amazon and these other groups. if they don't raise the price, i'm not signing anything. reporter: the president did walk back those comments just two hours later on friday, saying he would never let the post office fail, but this is a big problem, because they have been losing billions of dollars for years. last fiscal year, they ended with a net revenue loss of over $8 billion. a big part does not have to do with how they price their package delivery or how they compete with amazon, but just the general steady drop of mail volumes over the past several years, as businesses send fewer things through the mail. bill pay has moved online. they have also backed up over $160 billion in prepaying retiree benefits. that's something the post office has to do as part of a role that many other businesses do not do. treasury secretary mnuchin says there could be a reform package
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tied to this relief money for the post office and part of that could be bringing in new postmaster general. neil? neil: all right. hillary, thank you very, very much. keep in mind that with the smaller part of business going to amazon, some of the other big box players that hillary alluded to could simply take their business elsewhere, especially if the post office were to jack up rates. there is ups. we have already seen that happening. that could actually compound the problem. we will see. it's a back and forth. hillary was mentioning the president and what he wants to see congress do in cutting monies to the post office. apparently he's going to have a press conference tonight, apparently to look at testing issues and others, but a press conference tonight. we don't have the exact time but this as he's been trying to scale back or look to the value it will continue to have daily health care task force briefings. this will be, i assume, a separate press conference on his part. don't know how many other players will be there from the
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health care task force but that is scheduled for this evening. robert wolf is with us now, former ubs chairman, 32 advisers ceo and chairman, former barack obama adviser, much, much more. robert, always good to have you. you know, the post office thing notwithstanding, that seems to be an outlier here, but the president and his angst about these briefings and where he gets ripped apart and now they are off and now the press conference is on for tonight, what do you read back and forth on this? >> personally speaking, i'm exhausted from these daily briefings. i think most of the country would prefer to hear from fauci or birx or medical experts on the pandemic side. then if it's on the economic side, then we should have it come from mnuchin and i would keep it very tight and it's either about the pandemic or about the economy, about one of the new public programs they are
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putting to the forefront. but i think this has become, in my view, it's exhausting, like a rally, a daily rally. neil: i'm also wondering now whether despite all the aid and whatever you want to say about the president, there's been no shortage of money going to address this. howard schultz was with me a little earlier, former starbucks chairman and ceo, saying it's not going to be enough. he said there's going to be a lot more need on the top federal level to deal with small businesses who will be going out of business in rapid fashion. i think he said 20% of them by labor day. even with all of this aid. that it doesn't even scratch the surface. what do you make of that? >> i completely agree. about a month ago, when we were chatting, before it came up with $2 trillion, i was saying $2 trillion is low. first of all, the $350 billion of the ppp program before they added the second tranche was low.
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i thought that should have started at $1 trillion. we have 30 million small businesses. so far, the first tranche helped about 5% of them. the second tranche will help another 5%. so 10% of small businesses won't be helped and that equates to so far small businesses make up at least 60 to 80 million in the labor force. that doesn't include all the tangential what we would call part of the not full-time labor force. so one, it's just hitting the surface, this relief package. number two, we have to absolutely make sure that states and municipalities are being taken care of, police, fire, first responders. i think this comment that senator mcconnell made is complete b.s., the idea that blue state bailout, because as we know, with respect to jobless claims, 7 of the top 10 states
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that are being impacted the most happen to be red and/or purple states, with actually kentucky the second most. neil: i agree with that, robert. you wrote very eloquently the other day, we were looking at the good, the bad, the ugly. the bad was mitch mcconnell's remarks. i would also say living in new jersey myself, my friend, that there are a lot of requests where they're using the virus as a cover for what has been years upon years of unfunded pension liabilities that republican and democratic governors in the past have tried to address, to little avail. it's out of control. i wonder mitch mcconnell's inelegant phrasing notwithstanding, if he was hitting on something that states that are lining up now for federal aid to address problems that happened way before the coronavirus, is that fair or right? >> well, that's not part of what the two senators are putting up front. now, the lead senator on it is senator cassidy of louisiana which to my knowledge, still is
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a red state that has voted for trump. so it's very clear if you look at the smart app they are talking about helping state and local municipalities, this is not for unfunded pensions. you could make it very restrictive on where this -- neil: you don't fear it could get that way? you don't fear it could get that way, that people will just sort of glom on to this? i would love to see it used for the purposes they outline but i think you and i know on a state and federal level, that oftentimes is not the case. >> well, you have to put restrictive covenants on how this money gets used. i think more importantly, we can't disregard all the expenses that states are putting forward to keep us safe. listen, we don't want public education being cut. we don't want first responders being cut. we don't want public state hospitals being cut. i mean, there are things right now, we are having them working 24/7 looking for the 25th hour and the eighth day. you want to start cutting those
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services? that's ludicrous. by the way, i would tell mitch mcconnell he should be a little careful what he's right now talking about because we haven't even talked about the oil wave that's going to come to fruition. is he not going to help any of these states when their oil revenues start drying up? i mean, we should make sure that this is not a polarizing partisan issue and we are helping the states that actually are making sure that those service providers who are helping us are not going to the unemployment line. neil: we shall see. i know that energy stuff was the ugly to your trio of issues here. robert wolf -- [ speaking simultaneously ] >> i may have to publish that. neil: your sports interest, that's a little debatable. thank you, my friend. very good catching up with you. robert wolf. cool office backdrop there. sometimes it's interesting to see what's behind him. we did find out a little
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about what the president is planning to do with this press conference at 5:00 p.m. eastern time. it will be in the rose garden. i don't know who will be with him. the president has announced it will happen at 5:00 p.m. there you go. stay with us. i came across sofi and it was the best decision of my life. i feel cared about as a member. we're getting a super competitive interest rate on our money. we're able to invest through the same exact platform. i really liked that they didn't have any hidden or extra fees. sofi has brought me peace of mind. truly thank you for helping me prepare for whatever the future has in store. about medicare and 65, ysupplemental insurance.
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neil: you know, in massachusetts they are making it very difficult for i think up to 300 folks who have second homes there not to come there by cutting off their water. how's that for inventive? kristina partsinevelos with more on that. this seems a little weird. update me. kristina: well, we've got, you know, summer around the corner and of course, a lot of these beach towns are worried about residents coming in with the warm weather which is why this
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particular town has still put a ban on water connection in salsbury, massachusetts. it affects roughly 300 residents until may 4th. town officials say they are doing this, banning and not opening up water meters, because they do not want out-of-city residents to come back in when it's a peak of covid-19 in this particular area. of course this has upset a lot of property owners including tom, who manages about 60 properties in the area. he says the ban is unconstitutional. >> we are equal property owners. we can't be discriminated against. we pay the town of salsbury, the beach, it's one square mile, pays 41% of the taxes for the entire town. so we have our rights to have our water just like she has her rights to have her water. if it wasn't for our taxes, the town couldn't survive.
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kristina: i spoke to two other residents that live full year all around there and they actually support the water ban because they said they are concerned about the health of their families, with one saying what's a few more weeks to wait? but it's not just salisbury that is enacting a water connection ban. you've also got newbury port doing exact same thing for plum island. that means none of the water meters are turned on over there. i asked the mayor for an interview. she declined. but what we are seeing overall right now is that real estate guy we spoke to, he said they are not looking to get legal just yet, that he's remaining optimistic because tonight, there is a meeting with town officials and he's hoping they will change their mind. for now, the seasonal residents can't take a shower or flush the toilet. back to you. neil: that's not nice. we will see what happens. thank you very, very much. this happened in state after state, region after region. we will keep a close eye on
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that. we wonder if they similarly shut down access to their wallets for taxes. we will explore that. the president was talking about the virtues of uv light and how that could be invited under the skin and all sorts of remedies. christian pinkston looked into that technology. in fact, he uses a lot of this technology to protect employees and also to find ways of dealing directly with any potential recurrences of the virus and keeping office places very, very clean. christian joins us now. very good to have you. how do you implement this or make this work? >> well, everybody is talking about getting the economy moving and getting businesses back to work. we can't assume life is going back to normal. a lot of companies are just implementing more toxic chemicals and deep cleaning to address the risk, but the minute employees come back into the work space, it's contaminated. it's not good enough. so we wanted to find technologies that will continually be sanitizing and cleaning the office 24/7.
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we think we found four really good solutions. neil: the primary one, the benefit to ultraviolet light is there for you. in other words, you have seen it can be a means by which you can clean up stuff or at least prevent the spread of germs, that sort of thing? >> yeah. it's amazing. we are putting in technologies of far uv light which is completely safe for human interaction, it's very effective at killing microbes, including coronavirus. you walk through a portal like a high tech metal detector. everyone that comes in, every delivery, every package, is disinfected before it gets into our environment and near our team members. we also put that same technology in high risk areas like kitchens, bathrooms, coffee bars, et cetera. then we have included some other technologies that complement that like titanium dioxide
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solution that covers every surface in our office so it's constantly killing microbes, bacteria and viruses including coronavirus that land on any surface. we feel like a combination of those and a few other technologies is creating possibly the safest workplace in america. neil: thank you very, very much. i want to watch that. that's a very interesting development and would confirm at least one thing the president has said that light could be an option. we will watch it. thank you very much. you heard of the virtual nfl draft. that went well. how about virtual nfl training camps? after this. i just love hitting the open road and telling people
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neil: well, who says if it works for the draft it can't work for maybe 20 nfl teams beginning their off-season training maybe virtually? grady trimble on that. hey, grady. reporter: hey, neil. i think it sounds a lot more complicated than it actually is. basically, it consists of sending players workouts and they can do that at home, then they can do conference calls and that kind of thing to talk about plays. the nfl is taking the approach where if one training facility
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can't reopen, because of local guidelines, then none of them can. the nba, on the other hand, is looking into reopening facilities as early as this week, according to espn. they want to reopen training facilities in the states and cities that are loosening stay-at-home restrictions. players can return to facilities in states like georgia for voluntary workouts, according the a report. there would be individual workouts, team and group activities would still not be allowed and there's no indication when the league, the nba, that is, might start up with games again. switching gears to the world of hockey, the nhl and its players association have put together this resume play committee, return to play committee, according to "new york post." they are looking at several options to get the players back on the ice but again, no date as to when hockey might return. then nascar. there's a report that it could be rolling again in just a few weeks. the "morning news" in south
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carolina reporting the first race will take place may 17th at darlington raceway, but there will be no fans in attendance. the league, nascar, that is, has not confirmed on its official schedule whether that will happen. in the meantime, nascar is actually seeing solid ratings for i-racing and speaking of ratings, the virtual nfl draft saw its highest rated draft ever, 55 million people watching that over the three days of it. 15.6 million, up 37%, just on that first round alone last thursday. neil? neil: incredible. thank you very, very much. more after this. weathered many . seeing the break in the clouds before anyone else. together, we'll weather this storm.
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it's my own thing that i can do for me. since i don't have time to read, i mean i might as well listen. if i want to catch up on the news, or history, or learn what's going on in the world, i can download a book and listen to it. i listen to spanish lessons sometimes to and from work. yea, it makes me want to be better. audible reintroduced this whole world to me. . . (music)
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♪. neil: you know we always like to leave you on a upbeat note about people helping those deal with the virus and all the economic and other issues come around with the virus. he has been instrumental as a group raising millions of dollars, i believe at last count, over $100 million for pandemic fund. that is not too shabby. tony joins us right now. tony, very good to have you. >> thank you, neil. thanks for having me on today. neil: explain how you rose to the occasion and got so much money raised for people and those who really need it. >> sure.
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so the knights of columbus are largest catholic church fraternal organization in the world. we've been funding catholic churches as part of our mission 1896. not knowing what would happen after covid hit, what would happen to parishes and diocese. we created 100 million-dollar line of credit and backed by the insurance annuities we sell to the membership. we had eight diocese approach us to participate in the program. we have a number of others that are looking into it. with the cares act now with extending to diocese and helping them out, a lot of them are looking to see what government help. we were out there before this to have something in place to help out as best we can. neil: you know, the money geared to look a pandemic fund, is it targeted to any one individual, the health care workers, those, afflicted by this, the economic
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hardship caused by this? >> we have two different things going on. so we have a line of credit program to help diocese, to help out their employees. and then we have a food for families program where we're putting money out to, to help people that are having a rough time getting food, having enough food for the families. we source ad number of masks. whenries per ratetores were a problem, we sourced a number of respirators. we tried to do the best we can to help out the most we can for as many affected communities as we can help out. neil: you know the knights of columbus as you said is a catholic organization. all this occurs at a time where you can go to a mass but you have to do it virtually. this affects all types of religions and debate ensues how long that's going to continue. how disruptive has that been to the organization and just you personally?
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>> well it is interesting, we were pretty early on, we had most of our 900 plus home office employees out of the office. we started on march the 12th. by that following monday, virtually everybody was at home. we were technologically able to be up and running. and as it relates to the parishes, diocese and the church, it has been a challenge. so much contributions coming every sunday from the pews. from a membership perspective we've had a high degree of new members. we had 2,000 men join a week ago. we have some online missions going on -- initiations going on twice a week next couple weeks. we have a people interested in potentially helping out their own community. neil: good for you, tony. best of luck with this, through the knights of columbus asset advisors raised a lot of money to help a lot of folks. speaking of the coronavirus
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right now, the number of cases worldwide just topped the 3 million mark worldwide, crossing in on a million in the united states now. this is still an ongoing issue whether people return to work quickly or not. here's charles payne. hey, charles. charles: hey, neil, thank you very much. good afternoon, everyone. i'm charles payne. this is "making money." breaking right now i'm calling this the phil collins rally the market feels it in the air even as experts don't. even as major indices get closer to major breakouts they may have no choice to get on period. as more cities and states getting back to work, a new report says we may have been doing the whole lockdown thing from the start. i will get reaction from trump economic advisor steve moore in about five minutes. despite reports to the contrary the president trump will have another coronavirus briefing today. as he takes it up
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