steeningpengieldieievehi w w econic gomwt groro erythinghie w io io pred o atin r r atha alics.yt osthrelishlish fonshur our mel.d long blellelll rgs rinin out t yhank y wee oehehehehe lows. th is atodgo tcoibiinne tay.ay. watl dato itato ior hema "nn counn.tdow nncol: felrs oea oea new new new hi inal wreetrerereay we arere aboutut getn idea i h h those restrictitronsonhtonon hut ce off btt ktt cpa cnies c the count.nt disneys eyexpectededoooo relseel its earsningsnini res rult. any a momtom n. n monnenehanene it isitit time for fewsfts the bell right now. rising virus cases increased optizations really slammed into stocks even though the dow came off the lows. still more than 300 points lower at the close. states across the nation imposing new rules on business. businesses worried about resurgence of covid-19. the major averages down across the board. fox business team coverage with

edward lawrence in washington. ashley webster waits on the disney numbers we talked about. while we wait for that, edward, we'll start with you on the economy and the new comment today from the fed chairman. reporter: connell, federal reserve chairman jerome powell says the economic path forward will be a challenging one and includes more help from congress. powell on a panel with european central bankers says that monetary policy needs to work with fiscal policy because the size of the economic shock with the coronavirus. >> ultimately it was a job to replace lost income. i would say that our congress stepped in and there hasn't been a faster or stronger response from congress to an economic emergency since really the great depression. reporter: he is talking about the first cares act at the beginning of the summer. last week powell said, in order to get quickly back to where we want with the economy. there needs to be a another relief package from congress. it should be targeted to those

people and industries affected most by the coronavirus. but congress zooms to be even more far apart when it comes to when that package will be done. listen. >> the heroes act has now for nearly six months been a formula for crushing the virus, for honoring our heroes, our health care workers, our police and fire, our first-responders, our teachers, our teachers, our teachers, our sanitation, transportation good workers, people who make our economy and our society work. >> we're willing to sit down and talk. they haven't wanted to talk. they seem to stuck to their position. reporter: proposal after proposal from the treasury secretary rejected by the house speaker in the months before the election. the last proposal up to $1.9 trillion. the administration turning over the lead for the talks to senate majority leader mitch mcconnell who signaled he wants a smaller package. that is the won could have votes

going through the senate. mcconnell pushing a package $500 billion. we're not only far apart but going backward in negotiation with democrats back at $3.4 trillion package starting point. connell? connell: we've been going back and forth as you say forever. i'm sure jay powell was asked what if question, edward. what if we don't get anything or another round of stimulus? how did he handle that, what his biggest fear would be? reporter: he said exactly that his biggest fear there is long term scarring to this economy and people's lives whose jobs could go away without more help. the fear is the scars will be very, very long term, that they won't recover from it. back to you. connell: edward lawrence live in washington. speaking of jobs, another 709,000 americans filed for first time unemployment claims last week. that number was down 48,000 from a week ago despite the rise in coronavirus cases. the u.s. has set a single day

record. more than 144,000 new covid-19 cases. at least 38 states now seeing a 20% increase in new cases compared to one week ago. california following texas. now the second state to report its one millionth case. hospitalizations also on the rise in nearly 30 states. 65,000 people hospitalized with covid on wednesday. that break as record set just one one day earlier. the highest number since back in april. all the surges leading to new restrictions around the country. we heard from chicago, mayor lori lightfoot issuing a 30-day stay at home advise very. that starts monday. the state's largest school district preparing for the possibility of another closure. new york city mayor de blasio said it would happen if the seven-day rolling positivity average would reach 3%. currently it is at 2.6%. carlton english, financial

markets reporter at "barron's." jonathan hoenig joins us as well, capitalist pig hedge fund. carlton, we start with you, disney earnings are expected to break any moment. the big picture the market digesting all the news we're talking about we're headed in a different direction with the virus and economically maybe going backwards as well in terms of more lockdowns. where is your sense of where things are headed? >> absolutely. the market is reacting to the high covid cases. jobless claims front, we saw the lowest level sips the pandemic started. we're at historic highs. well above 700,000 initial jobless claims filed. jay powell said earlier today. the next few months will be very tricky. we got a ton of hope earlier this week on the vaccine data. the light at the end of the tunnel. we have a lot of twists and turns until out of it.

connell: i don't know if it's a light at the end of the tunnel, jonathan, disney earnings, it is loss which was expected are breaking as well. not as expected i don't believe. 20 cents a share. the street was expecting disney to lose much more, 70 cents. revenue better than expected, 14.71 billion. stock up almost 5% as number came out. give us a deep thought on disney,. >> connell, this stock is shooting up after the hour. could be question sell the rumor, by the fact or settle the fact, buy the rumor. disney the whole business model is centered around entertaining large groups of people, theme park business, has been decimated by covid. anything that used to distinguish disney, like theme parks opposed to netflix have been a drag because of covid. we want to dig into the disney plus numbers. the stock is an underperformer.

disney has been up 4%. nice to see a loss because the stock anticipated it. that is why it is up after the bell. connell: not as big as expected as we said on the loss. carollton, jonathan picks up parks experiences and consumer products did a little better than expected. $2.58 billion in revenue. the expectation was 2.38. we'll get in when ashley webster joins us in a moment on disney plus. disney is trying to weather the storm to get through this one of the ways you do that launching a streaming service while everyone is at home. your thoughts on disney? >> exactly. they have to do something to make up for that lost park revenue. disney plus certainly is a way to do that and the tricky part here is launched about a year ago. we have to see, are those kind of verizon customers that got the package deal, will they roll off? is disney going be able to make up for the lost revenue on the park side of the business or

even the production that has been delayed or halted because of covid. is streaming going to be enough to do that? what i'm really looking for is next month, they have the investor day, they talk about the new media strategy they have. how they will be looking to monetize their content, whether it makes sense for things to go to a theater, go on tv, go on the streaming platform. connell: uh-huh. all right. boy, this stock is really shooting higher now, up 6%. let me bring in ashley webster who is covering this after the bell for us. ashley you couldn't ask for much more from disney i guess? ashley: the headline numbers. we were expecting a loss of 70 cents. it came in with a loss of 20 cents. the revenue too as you pointed out, connell, 14.71 billion. it is still down around 20% year-over-year but better than was feared. i'm looking at parks and experiences. you know, those are the cruises, all the theme resorts and theme parks, coming in at

2.58 billion. still not great. a lot better than the third quarter where this segment lost 3 1/2 billion dollars. it does beat the expectations but still down. i mean year-over-year, 50%. very hard to compare anything to last year of course. the studio entertainment number, not surprising, coming in at 1.6 approximately. the estimate was 2.07 billion. the studios have been hit so hard. a lot of productions have been postponed in some cases canceled but the question becomes are you going to do more disney to go straight to disney plus with your theatrical releases. we'll get into that more. median networks number was better as well, coming in 7.2 billion. the expectation was 6.8 billion. you look after-hours the stock us up 6%, thereabouts. to your guests point, can the direct to consumer number, that is the you know, include disney

plus that was slightly better than expected. it is under direct to consumer, international, slightly better than expected but not enough overall to offset what they have seen for the losses at their theme parks and resorts. let's not forget disneyland in california still closed because of those very strict california regulations, could stay closed until next summer. there has been talk of disney may join a lawsuit with other entertainment and theme park operators in california to try to get at least a partial reopen like they have in disney world. so we'll see if any mention of that at all on the call coming up at the bottom of the hour. but overall, as you can see, better than expected for disney in a very challenging environment. connell: that call with bob kepec new ceo for bob iger. ashley stays with us. the number of paid subscribers as of 3rd october, for

disney plus. 70.7 million. in august it was 60. netflix still 200. that sounds like a good number, 73.7 number. >> massive group, connell. they have a long way to catch up to disney, events like "hamilton" earlier this year, a freebies giveaways services bring a lot of people into disney plus. what is missing long term to ashley's point, why the theme parks especially california are so important what is the synergy. what made disney so successful, get you watch the movie, go to the theme park, buy the stuffed animal, all the elements that make the business strategy so effective. the real risk for disney is regulatory risk, government risk. if the government keeps cruise ships shut, theme parks shut in california, disney will have a hard time getting out out of the hole. connell: a good stuffed animal as much as the next guy, no doubt about that.

carlton, i saw you nodding 73.7 million on the disney plus numbers. that is pretty good figure, right? 73.7. >> that is an incredible figure coming off the 60 million we saw back in august. great growth there. i think it is to those releases, the "mulan," they have beyonce movie came out during the summer, "hamilton." they have another release coming out f they continue to grab people with these new releases not only willing to pay for the subscription bill, pony up a little bit, the first take at it, this could bode well for disney plus. it will be really exciting to see what happens here. connell: as a final thought, ashley before we break on this with disney, we'll come back to it maybe later, some companies, this is really big exam of this, this is huge, this is disney, get hit in your main business, they already launched disney plus. you're forced to execute there, they get a little help.

more people are stuck at home and adding it, it puts you in a better position if and when the rest of it comes back, you know? ashley: that is very true. they are big enough, lucky enough to have another segment of their company that could take advantage of a lockdown with disney plus. don't forget they launched last november it, has been una year from this report, 60.5 million, up to now whatever it was, 73.7 million. they are two to three years ahead of their own estimates on disney plus. i think they shot very low anyway on the estimate. it is very impressive. yes, people are signing up, i think even if and when we get back to normal, i hope we do sooner or later, i think disney plus is a real giant in this space. connell: as you said the call at the bottom of the hour. in the release the new ceo saying the real bright spot, direct to consumer which is the key to the future of our company. ashley, thank you.

carlton, jonathan, as well. thanks to all three of you. we'll touch back on disney as we get more info on "after the bell" reaction. meantime cushing the -- curbing the pan ban with another shut down? well have the proposal from one much joe biden's advisors and what the proposal could do to the economy in a few weeks. we'll talk to steve moore from freedomworks about it. the push and possibility of another shut down. that is coming up later in the hour. what a shutdown could mean for america's position on the world stage. much more to come. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn? lexus has been celebrating driveway moments. here's to one more, the lexus december to remember sales event.

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♪. connell: taking a hard-line today, president trump signed an executive order that bans americans from investing in a group of chinese firms that have ties to china's military. this comes as he and president-elect joe biden spent part of their day today meeting with their respective advisors. we have fox business team coverage. blake burman live at the white house. hillary vaughn with the president-elect in in in in delaware. what do you have, blake.

reporter: president signed a executive order that u.s. investments cannot flow into chinese companies that the trump administration believes is sending money to the chinese military. here is how the executive order reads one point, those companies remaining ostensibly private and civilian directly support the military. robert o'brien saying in a statement after that executive order was signed, many of these companies are publicly-traded on stocks exchanges around the world. individual investors can unknowing provide funds through passive institutional vehicles such as mutual funds and retirement plans. connell, the executive order does not go into effect right away. still 60 days from now on january 11th. connell. connell: you mentioned first of all, 60 days from now. january 11 is not even, a little more than a week before the

inauguration. so any uplycations there for the president-elect in dealing with this? reporter: it is january 11th, nine days before president-elect biden will be in the white house. connell, there i will was host of china issues, u.s.-china issues that the president-elect will have to deal with. for example, we heard today from just this executive order, we heard group americans for free trade. they are saying, or calling on the president-elect to pull back on those tariffs that the trump administration put into place over the last couple of years. tariffs as you know that are eventually paid for by u.s. companies an or u.s. consumers. so you have got issue bin investments. you have got the issue over tariffs. there is of course the president's trade deal. that's in place. a lot going on on this front. the president-elect biden might potentially have to deal with in the opening weeks of the administration. connell? connell: that is interesting. thank you, blake burman on the north lawn. speaking of the president-elect let's get to hillary as

mr. biden is headed to his beach house i guess in delaware. what is happening there today? reporter: hi, connell. well biden moved from wilmington here to reb hoe beth beach, delaware to continue working on the transition and meeting with transition advisors. meanwhile progressives are taking credit for president-elect joe biden's win. now they want to cash in by convincing biden to stuff his cabinet with far left liberals but some senate republicans are warning democrats that it is going to be difficult to get someone like democratic socialist bernie sanders confirmed by a republican majority senate as something like labor secretary. >> i think it would be a challenge. we want businesses to be able to thrive. we recognize the need for labor to be a part of those discussions. bernie is a friend but most certainly he will be different

in opinion what a labor secretary should do than a lot of what people in the united states think is appropriate. reporter: even though the sunrise movement a group of of progressive activists is releasing a wish-list for top positions in the biden administration. they want senator elizabeth warren as treasury secretary and rashida tlaib as hud secretary and pramila jayapal as health secretary. >> you have to govern from the center. we want to move towards the progressive agenda of course, expanding the opportunity for health care is a good example of that. will we move straight into "medicare for all"? of course not. that will not be on the horizon based on the results of election. reporter: house democrats are trying to get on board what they want to see on biden's cabinet. the cochairs of the house spending reduction congress penned an open letter to biden,

american national security should not be defined by the bottom lines of boeing, general dynamics and raytheon. appointing a secretary of defense without ties to defense contractors would be a tremendous step in the public's interest. biden's cabinet today is sitting empty. he did add one person to the inner circle, announcing last night his long-time advisor ron klain will be his chief of staff. he served as biden's chief of staff when he was vice president and biden says already has experience stirring the country through both an economic recovery and a pandemic and can do it again. biden is expected to announce key positions for the cabinet over the next two weeks saying he will announce them before thanksgiving but some people are already openly campaigning for a position. senator bernie sanders told cnn last night if he was offered position of labor secretary he would take it. connell: yeah we talked about that on the show a little bit yesterday. from your reporting, this seems like a relatively normal transition. it has been so much talk,

hillary, as you know president trump not conceding the race yet. it doesn't seem like it is slowing the president-elect down at all in terms of his agenda. what can you tell us in terms of what you observed this week? reporter: no, connell. thethe biden transition team is plugging away. he is fielding calls from world leaders. now even today he talked on the phone with pope francis which is a big deal for biden personally because he is a devout catholic. he goes to mass at least once a week, sometimes multiple times in a week. so that was notable conversation that he had today. connell? connell: yeah. all right. type of thing you would expect to see i guess when someone is transitioning to the white house. so we'll follow it all over the next few weeks. thank you, hillary vaughn with president-elect. "fox business alert." while hillary and blake were reporting, cisco reported numbers of its own. the second dow component to report its results after disney. so that stock is way up as well. we're keeping ashley busy

following these earnings. cisco looks like it did well, huh? ashley: how i like it. that is your clue up there, up more than 8% you can see on earnings per share beating the estimate, coming in at 76 cents on an adjusted basis. also the revenue close to 12 billion. 11.93, also beat expectations. that is the good news. this is a stock that struggled because the pandemic hurt client spending. we saw a drop for cisco in its infrastructure platforms segment down 16% year-over-year. but the applications business, not hurting as much as was expected. perhaps the other big boost for this stock after-hours, connell, is their guidance. they are guiding earnings of 74 to 76 cents per share. the analysts, so-called experts, i always call them so-called, estimating 73 cents.

they need to cut a billion dollars in cost. they will do some restructuring as well. the stock moving higher after-hours. connell: that is it for you, ashley. we have a rule here if you do more than two earnings reports on one show we have to pay you time 1/2. we definitely don't want to go down that road at all. ashley: come on. anyway, whatever. connell: keep it coming. right. thank you, sir. ashley webster. ashley: thank you. connell: united airlines is now using clorox, electrostatic sprayers in 35 of the airports. each sprayers has epa solution that kills the coronavirus and it will disinfect surfaces in areas like ticketing lobbies, terminals, employees. the technology will be use nightly starting in december before they expand it to other airports that will start early next year. we'll be right back. d.

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♪. connell: so just today georgia secretary of state brad raffensperger announced he is going to quarantine. his wife tested positive for covid-19. all this of course comes among the growing attention we now have on the state of georgia with the plan to recount presidential ballots and do it by hand. get the whole thing done by november 20th. fox's jonathan serrie picks up the story from atlanta. reporter: hi, there, connell. secretary raffensperger actually had one of his associates handle the news conference this afternoon. actually beneficial because it was his voting systems implementation manager and the news conference was all about this recount or audit that georgia will be conducting statewide on the electronic voting machines. each digital ballot produces a paper copy. so every ballot will be counted literally by hand. it will be the largest hand recount in the history of the united states. georgia elections officials say they did not order this audit of the presidential race because of any political pressure but to

instill confidence in the state's new voting machines by confirming they count ballots accurately. >> we stand by that statement because it is the truth. we anticipate this audit will bear that out. yes, is there risk involved in doing this? of course there is. as i said very plainly and very clearly, human beings are the most flawed part of this process. i guarranty you the numbers will be slightly different. reporter: slightly different but they say still on target. the recount begins tomorrow at 9:00 a.m. and is due to wrap up no later than wednesday night. backs to you. connell: we'll keep an eye on your state, jonathan serrie in atlanta, georgia. a top health advisor to the president-elect joe biden, it says the u.s. can control the spread and revive the economy by

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national economy for four to six weeks. in fact this advisor seems to think it would cabinet positive for the economy because we would be able to got the virus under control and move on. steve moore joins us, freedomworks economist. the advisor in question is the guy by the name of michael osterholm, a epidemiologist. you're an economist. what do you make of this suggestion? >> well, connell, i hate to say it i told you so, right? this was very obvious if joe biden were to win the election, it is not over yet, if he does, that the democrats lock down. that is what they do. you see this in the states. democratic governor is much more likely to lock down their economies. this was highly predictable and now you have -- by the way not just this one health experts. connell, at least two others have been calling now for a national lock down. this is extraordinarily dangerous. it would tank the economy. i think it would be so damaging to america's small businesses.

what a horrible time to do this when finally we have our businesses back up and running. small business confidence is back up to where it was pre-pandemic. we have employment levels back really nice low unemployment rate. this would wreck that recovery and, by the way, connell, i would love to get him on your show, ask him, gee where is the money coming from? will government print money to give it to people? is that your recipe for economic success? connell: he did see something, about having low interest rates and borrow money like crazy at this time. this would be the time to do it. i think actually was the recipe, we could borrow our way out of this. essentially pay for the lockdowns. the democrats make the argument, they don't say the economy is going to tank. their argument if we get it out of the way in terms of the virus, we do a better job we expand come out of this stronger. pushback on that if you would.

why you would feel about that point? >> thank thank you for asking t. i meant to address that. we have had nine months of virus, nine or 10 months. it has been a tough period for all of us. trump did the right thing, basically let the 50 states using some kind of national guidelines to figure out what works best. now we have these experiments, these scientific experiments to use the left's terminology. and what we've learned unequivocally is that lockdowns do not work there is zero evidence. i'm an economist. i looked at evidence sideways, forwards, back ways. there is no ways for should downses. if you look at the evidence, i show you charts, the states with the strictest lockdowns had the highest death rates, not the lowest death rates. why woe we adopt a policy that failed? you don't have to take my word for this, connell, the world health organization, hardly a

pro-business entity, said we looked at all the evidence from around the world, we just don't see evidence that lockdowns work. connell: the death rate argument, steve just to ask you about, isn't that a chicken or an egg thing though? they had the lockdown because they had the highest death rates because they were hit hardest of the virus? thinking new york early on. we were hit hard first, lock down came, which came first? >> that is a fair point but the problem is, the problem with a national lock down is that new york is not nebraska, right? los angeles is not wyoming. so a policy that might make difference in some of these states, have high population density, doesn't make any sense in rural nebraska. that is why this idea of national, nationalizing this is such a mistake. the other point is so obvious which is that what new york and new jersey did, the reason they have such high death rates and massachusetts and illinois, they didn't do the one thing that you

did need to do which was keep the nursing homes safe we've known for many months. the state has keep the nursing homes safe, vulnerable populations are ones that company their death rates lower. you don't have to lock down the entire economy to do that. you don't have to lock down -- by the way you do not want to lock down schools because young people are not susceptible to this disease. it really is one that affects -- connell: might be headed that way by the way in new york, with the schools, the way numbers are right now, what the mayor has talked about. got to run, steve. i'm sorry to cut you off. >> just going to say one last thing. i'm in california right now and they're talking about starting tomorrow shutting down restaurants, shutting down gymnasiums, shutting down fitness centers. this is going to have a very negative effect on the economy if it happens and i, by the way, i will say one last thing on the way out, i don't think the american people are going to tolerate it. these governors and president

biden might try to lock people down but after a year of this i think the american people will revolt against it. connell: virus fatigue is a real thing too. thank you. we have to really run. steve moore always great to have you on. california democratic congressman ro khanna kind enough to join us. just pick up, congressman, if you can maybe where steve moore left off. saying there is no case for these lockdowns, no economic case that they work. what is your view? because that is the debate we'll be having here. already having it but have more the next few weeks? >> there are two things we can do to avoid lockdowns. first universal mask wearing. there was a study out by the university of california san francisco, if you wear a mask, chances are you won't get coronavirus. even if you get coronavirus it reduces ininoculation, you would be asymptomatic. we have to get the word out wearing masks is people

self-interest? why aren't we doing contact tracing? apple and google in my district allows effective contact tracing. ireland used it, germany used it. all the other countries are using it. we're not using it. if we do two things i think we would severely say void the need for another lockdown. connell: so are you against this proposal, four to six week lockdown, get the virus under control and government pay wages. >> that is premature. if that comes as a last resort. i think there are other measures we could take. i think we need a stimulus in any case. people whose wages have been hurt and their small businesses have been hurt. i think we need a large stimulus but i believe with mask wearing and contact tracing and the upcoming vaccine we can get this under control. connell: connell: speaking of stimulus was that a mistake way things worked out in the election for nancy pelosi not to get a deal done? get the deal done she could have

gotten done before the election? >> you know i said that we should do a deal. i was on the record saying we should have done a deal, 1.8, 1.9 trillion. majority leader mcconnell was not willing to do anything. he was there with 500 billion. had he come on board with the president and mnuchin's package i think a deal would have been done. connell: all right. ask you one more thing while we have you here. that is about the incoming administration, how it is taking form. there is i know debate inside of your democratic party about about president-elect biden whether he should be more progressive, centrist, as you see it is taking shape, is it too centrist, what is your take how the transition is coming so far? >> all these labels, we need economic populist. steve hilton talks about

economic populism. job creation in places left behind. talk about raising wages, minimum wage raise for workers who have been left out. i think our party needs to be the party of economic populism. i think that will cut across a lot of these political divides. connell: congressman ro khanna. thank you hope to have you back soon. congressman, democrat from california. we'll be right back. 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? nope. we tailor portfolios to our client's needs. but you do sell investments that earn you high commissions, right? we don't have those. so, what's in it for you? our fees are structured so we do better when you do better. at fisher investments we're clearly different.

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♪ connell: we have a "fox business alert" here on tiktok as the commerce department will not enforce its own order that would effectively enforce the chinese owned tiktok to shut down. it cite ad federal court ruling out of philadelphia. it delays the regulation that would have banned u.s. companies like apple would offering tiktok is a mobile app in the app store. tiktok lives to fight another day. that is just in from the commerce department. as we've been talking about we know more covid restrictions are coming. some are already in place. new york governor andrew cuomo saying all the bars and restaurants will have to close at 10:00 p.m. that restriction, 10:00 p.m. closing starts dorm night. buddy floyd, jr., joins us from

the chateau on the lake. he has been on number of times. what will this do for your business, getting people seated and the like? >> the extra hour means us opening and closing. people have to be gone by 10:00, not seated by 10:00. we can't just take food off of people's plates. hour 1/2, two hour time frame to feed people. basically what they're saying we can open from 5:00 to 8:00 for seating. everyone else shut the doors at 10:00. at the end of the day, that extra hour is the difference between staying open and shutting down. i don't think we're going to have a choice at this point. connell: so you're going to shut the restaurant? >> we'll shut it down until we get through covid. at this point that hour is turning into conversations with employees that we have to lay off. who do we give the job to? we have already right-sized our business for covid and for

social distancing. we figured this out. to have 48 hours advance notice, there is no way to run a business. we can't run a business on 4hours 48 hours at a time. i take a week so people have to plan and organize finances. we have employees to think about. my phone rang up. what will happen? we can't stay open? how will we feed the people? social distancing we can pay our bills under the current guidelines with the social distancing regulations. with the time frame until 11:00 we worked on it. it works. 10:00, we'll have to shut it down until we can serve and operate legitimately to serve and pay our bills. we can't pay our bills closing in three hours. in other words, sitting people from 5:00 to 8:00. 10:00 means you're not taking anyone inside your restaurant to eat after 8:00 at night. you have to go through a process t takes time. that extra hour is difference

between staying open and shutting down so we can operate normally. connell: this puts you over the edge. you were pretty close anyway, right? you came up with so many things to keep yourself going. we talked to a number of times. you're as lean as you can be. eating outdoors when you could. it is cold up state. you were pretty close. where were your margins? where were you before this that you had to say all right enough's enough? how much money were you loosing? >> before, we had a great summer. we at the adirondacks. with outdoor seating. the best summer in the history of our business. we knew coming into the fall and cold season it woe be challenging. we don't make money in the fall. we keep employees busy. everyone showing up to work, 40 hours a week. keep everyone out of trouble. keep their eye on the ball, getting ready for the next season. we maintain the property. clean the property. feed a limited amount of people. we offer online business. our online business only requires us a specific amount of

staff to service that. 90% of our staff is used to service our in-house diners that sit and enjoy their meals. so where we're at is, that extra hour, we were just getting by in the fall with limited seating for indoor since the weather got cold. we think -- connell: right. >> when it is warm. but hard to plan the weather. the extra hour, that was, that is going to be the camel, straw that breaks the camel as back. connell: nail in the coffin, pushes you over the edge. man, this is tough. i hope it doesn't last long. we get through the winter, you guys can open. you have a great spring to be open. that is tough news, buddy. buddy ford in new york. >> thank you. connell: another quick look at disney which we covered earlier, the breaking story. the stock was up after the report. it beat the street on fourth quarter results. up 5% now. reported a loss. the ceo bop chapek, bright spots

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connell: they are turning the page. president-elect joe biden's received a number of congratulatory phone calls from world leaders, and rich edson has more on that. >> reporter: hey, connell. president-elect joe biden is speaking with the leaders of the closest american allies. the latest call, according to the transition team, from the vatican and the pope. quote: the president-elect expressed husband desire to work together on the basis of a shared belief in the dignity and equality of all humankind on issues such as caring for the marginalized and the poor, addressing the crisis of climate change and welcoming and integrating immigrants and refugees into our communities. yesterday the transition said biden spoke with leaders from australia, japan, south korea. he's also connected with leaders from european allies, chinese

president xi jinping and russian president vladimir putin have yet to reach out. state department officials say they're preparing for a transition to a biden administration though they're still waiting on the trump administration to approve coordinating with the new team. the president-elect, biden, is beginning to select the top officials in his administration, among the most coveted positions, sec tear of state. suspected contenders include susan rice, senator chris coon, he's the delaware democrat who serves on the senate foreign relations committee, ambassador william byrnes, a career diplomat and anthony blinken who's worked as biden's top foreign policy advisers, among others who worked on capitol hill and in the obama administration, and remember, much of this depends on senate confirmation. connell? connell: so so true, rich, thank you. good to see you, rich edson at the state department. just as we wrap things up, one

more word on disney. we were noticing in the conference call that executives is said e they're encouraged by the booking trends that they see at walt disney world, so, yeah, the stock's up 4%. that covid fatigue seems to be a real thing. people want to get out. we'll see you tomorrow. ♪ ♪ lou: good evening, everybody. the battle for the white house is raging, and president trump and his legal team have no plans to call it quits. court action is picking up. it's underway in a number of battleground states, and we're told more lawsuits are planned and in the works. the trump campaign today filing new affidavits in pennsylvania. those affidavits allege newly-found voter you are regular fews. here's white house press secretary kayleigh mcenany on just some of what they've discovered. >> an individual who said they received a vote-by-mail, did not request one, went