tv Cavuto Coast to Coast FOX Business November 23, 2020 12:00pm-2:00pm EST
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she has no ailments. she's going strong at 103. we can only hope for such a thing. susan: we asked what's the secret, is it booze and boys? who knows. stuart: we're not going to get into that. there you go. hey, neil, it's yours. neil: that's a pretty impressive run. my goodness. that's amazing. it always comes down to the genes, good genes. you either have them or you don't. thank you, my friend. we are looking at a couple developments at the corner of wall and broad. they are focused on rising because vaccine promises keep coming. there's a fourth one joining the ever-crowded field. interesting report over the weekend how we could see upwards of a dozen promising treatments for this as the weeks and months come along. more on that in a little bit. also focusing on the trump campaign ramping up the legal fight, trying to delay certification votes in states like michigan and wisconsin. you have heard the
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back-and-forth on what's happening in georgia. then a new ford mustang going electric. it just seems like a oxymoron to me, the mustang, loud muscle car, electric quiet as a church mouse. apparently you can adjust the sound to make it sound like the regular old gas-powered thing but it is anything but. let's first go to casey steagall following the promising reaction we are getting on all of these vaccines and potential that goes well beyond just the latest key players. what do you have for us? reporter: that's right, neil. but you know, until those vaccines are able to be widely distributed to the public, it's really going to come down to the testing and all of the stuff we have been hearing about, about social distancing and masks. we are going to drive through testing location in dallas and the medical practice that's running this right here says they had to move spaces to this temporary location because they
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were so slammed, they had so many people, they simply couldn't accommodate everyone that was showing up to get tested so they relocated here, and there are lines and there have been lines since we got here at 7:00 this morning. i should tell you what happens is the folks line up in their vehicles to get checked in, they fill out the necessary paperwork, then indicate whether they want the rapid test and they can get the results within 15 minutes while they wait right here, or the pcr test which results can take a day or two. all of that information is written on their car windows and this one location processing some 800 tests a day. the numbers have doubled since last month. similar long lines at other testing sites across the country like this one in the denver area. many folks say they are doing this, getting tested now, so they can feel more at ease for thanksgiving with the family. >> it's great. it's been really hard to find a facility that has covid testing,
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even though the line is two hours long, it's nice to get it out of the way and have it be free and faster. reporter: now, look at these lines wrapped around dodger stadium in los angeles over the weekend. people waiting hours to be tested. if folks do not have insurance, most locations like this one will do the test for free and then they later get reimbursed by the federal government. back to you. neil: thank you very very much, casey steagall following all of that in dallas. meanwhile, everyone in the world in a hurry to get home for thanksgiving. that is, if you let them in with the requirements that are limiting how many can gather inside homes. jeff flock following all of that at o'hare international airport, where millions are getting ready or already have started flying to grandma's. if grandma will have you. what's the latest at the airport? reporter: well, you wouldn't know it today, it's a beautiful
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day but maybe you see, not a whole lot of activity here today but it was a huge weekend for air travel in the u.s. as we go inside the airport, everybody has to put a mask on. if you want to go inside an airport in the u.s. these days, you have to put a mask on. i will put mine on and maybe you can put up some numbers to show how big a day yesterday was. it was a huge weekend. a million travelers each day going through a tsa checkpoint over the weekend, topped by sunday, 1,047,000. that's the biggest number of travelers seen since this began in march. it's a cost/benefit analysis. as you know, i fly every week back and forth between here and philadelphia and you know, i have noticed obviously passengers, more and more every week, and by now, people just making the decision that it makes more sense for them to travel, if they take the proper precautions, than not. take a listen.
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>> it's the safest place right now. i mean, they're very strict in their covid procedures and it's time to get away. >> it's been one and a half years we haven't seen her and her family. we are taking precautions as you see. >> you got to live your life at the end of the day. reporter: you got to live your life but the cdc says you could be putting your life in danger, if you take a look at what they said this week or this past week, could be a tragedy. cdc recommending against travel at thanksgiving. one of your family members could end up being hospitalized, severely ill and die. yeah. that's pretty tough words from the cdc but people making the decision, as you can see out here, maybe spin around, if you would, mike, you see people, everybody's got a mask on. people taking precautions, washing their hands, doing what you got to do, and maybe you can safely travel this thanksgiving. happy thanksgiving to you, sir. neil?
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neil: thank you, my friend, very very much. jeff flock in the middle of all of that. you take your chances or you just want to be careful, even if you think you are bullet-proof, no guarantee that family members are. thank you, jeff. dr. steven smith in the meantime joining us right now of the advent health and research institute in orlando. doctor, what's interesting about advent health orlando, it's going to be among the first florida hospitals to receive this vaccine, right? i mean, among others, but how do you decide who gets it? >> yeah. we've had a task force in place for the last two and a half months to work with not only the prioritization which is your question, but the logistics which as you know, are really tricky, but we have made great progress on both of those. prioritization is -- neil: how is it decided? if you can just help me with that. i know it's not exclusively your call, but there is a protocol, i
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guess, right? >> yeah. so the national academies of science and medicine through the summer prepared a detailed ethical review, who are the right people to receive the vaccine first, second and third in line, and they were clear as many other ethical reviews, ours included, it's health care workers. we are the people who are on the front lines caring for people who are sick, not just with covid, but with other illnesses, and the decision was made and i think will be supported this afternoon with the cdc recommendations going to the fda that health care workers are going to be first along with first responders in our community. policemen, firemen, ems workers, et cetera. neil: you know, doctor, we are now looking like no fewer than four vaccines or potential vaccines and/or treatments to deal with covid-19, and i guess this astra-zeneca partnership with oxford university is confusing to people because at
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first it was reported it had a 70% efficacy rate, but if you take a half a dose first followed by a full dose after that, the efficacy reaches 90%. how is that then decided it's beneficial, depending on the patient you obviously want to go for the vaccine that's going to be the most effective, and the numbers have to be clarified a little bit, right? so a lot of folks might look at this oxford offering and say well, i want a higher efficacy rate, maybe moderna's which is around 98 or whatever. how is that decided who gets what? >> yeah. that's a great question. i think the first thing that we need to be mindful of is transparency with regard to the data. steven hahn from the fda said very clearly and had a press release just last week, all the data as they move through the fda review process are going to be out in the public domain. that gives us a lot of
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reassurance about the safety as well, not just the efficacy. specifically with regard to the oxford astra-zeneca vaccine, it's interesting to me that they did achieve with a modified dose regimen higher levels of efficacy and again, we are just going to have to wait to see the data. that's key. i can't overemphasize that enough. and the transparency both by the companies and the fda is going to be key to make sure we know what's going on. we actually ourselves in addition to cdc and fda performing a scientific review, we formed our own committee to take a look at the data so that we can reassure ourselves when we make recommendations to our employees at advent health, that we know what the safety and efficacy of the vaccines look like. i think that's going to be important for everyone, not just hospital systems, but everybody needs to pay more attention to the data. neil: you're right about all that.
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doctor, all good news. very promising news. we needed that this thanksgiving week, so thank you for that update. dr. steven smith of advent health research institute, vice president and chief scientific officer, real smarty-pants when it comes to this stuff. you know, with all the uptick in cases we have seen in this country and elsewhere, a lot of businesses are looking at new restrictions being imposed on them, limitations, indoor, outdoor dining if you are lucky enough to have either. enter paul ryder, who has to be closed for the foreseeable future because it's just not worth it and financially viable to stay open in an environment like this. paul, very good to have you. what was the deciding turning point for you? >> well, the deciding turning point we got shut down for another three weeks and the money that we have been able to generate from the bar and
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restaurant during the slowdown has been not enough, not sufficient enough to even pay staff. you reach a point as you watch your financial reserve going down, down, down and you realize that the government's still going to want their piece and the insurance companies, everybody else will want their piece so we are not generating enough money to pay the staff, buy supplies and pay all the bills that are going to come up no matter whether we are open or not. we have -- neil: when you heard the three-week news, i apologize for jumping on you there, when you heard the three-week news, you knew what you were facing, and you had to make a gut call, a tough gut call. what was the reaction from your people? >> it's an extremely difficult call, because every time, we got shut down in march, we kind of said okay, we can handle this. then we reopened in june, but we had to shut down a number of times because we had covid
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scares. we had the shutdown for 17 days in october because we actually had a covid case here. that was not ordered by anybody. we did that as a sense of precaution for my staff and my customers and myself. i'm 66 years old. i found out i was elderly during all this. i didn't know i was elderly. neil: you don't look elderly, paul. but i do want to ask you, because now i hear from people even when it's not in their neck of the woods, where they are cutting back on these hours, there must be something with restaurants, it must be something with bars. i'm just going the to avoid them even though they're not shutting them down, i don't feel safe. do you worry that people then, even if it's not an issue for them or in their communities, there's going to be an overreaction the other way? >> well, that has been our experience from june on, is that as this has gotten more and more
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cases, people tend to just, they are being told don't go out and people aren't going out. a number of people who come here regularly, we are a music bar, we always cater to thursday, friday, saturday night with a large crowd. our business is set up to bring people together. when you are told don't get together, you know, a lot of people are not going to go out. we still have people coming in. we still have people who would like to come in but if you can see around this room, we used to have 43 seats in this room. now we have less than 20. that's based on restrictions from the health department and things like that. on the other hand, if i had 43 people in this room right now, i probably wouldn't feel very comfortable. neil: can't believe it. hang in there, paul. you are a very young 66. but i can understand just the trepidati trepidation. hope these vaccines that are coming out and all this other stuff, you just hope they can be around for you to survive.
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>> can i make one quick point? we were, like i said, financially, grants have dried up, loans aren't what i'm looking for, and my staff has suggested, they are all younger than me, suggested we go with go fund me. we set up go fund me and if we raise enough money through the go fund me and restrictions come off, we will reopen again. but i can't just open and just go into complete negative figures forever. the go fund me is trying to, my friends, fans, musicians, producers, everybody, they are trying to raise some funds for us to keep us open, so we will reopen if we can reopen but i need financial help. neil: well, you just got a lot of people listening to you and watching you. i'm sure you will be getting it. hang in there, my friend. we are close to the same age. you look a lot better but it's okay. hang in there. paul ryder, pj's lager house owner. this is playing out across the country. by the way, that is among the
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things that a number of investment banks have said and over the weekend, there was a lot of reporting on this about how this is going to drag on economic recovery. so much so that we are separately learning that the biden transition team is looking at some sort of stimulus to kick things off. actually, if they can, in a lame duck session with congress. more after this. ♪ for over 30 years, lexus has been celebrating driveway moments. here's to one more, the lexus december to remember sales event.
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neil: all right. i'm just reviewing some notes that have come in, you know, the biden campaign has been very busy announcing some cabinet and subcabinet positions. we mentioned a little earlier, i didn't, but you have heard on this network that antony blinken is slated to become secretary of state and jake sullivan will be national security adviser. very likely linda thomas-greenfield is ambassador to the united nations. now we are getting word that john kerry, former secretary of state, will be his climate czar. don't know exactly what that will involve but we are also hearing right now that avril haines will be his director of national intelligence. again, this is all coming from the campaign transition statement here but moving very
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very quickly to shore up these key positions or at least get them out there. we were expecting to hear the treasury secretary pick before thanksgiving. we had no idea we would hear a few others, likely well before thanksgiving, including that treasury post. we will keep you posted on all of that. all right. in the meantime, with the dow up about 186 points, the legal battle continues right now again and again, the trump campaign have been shot down by judges' orders and the like that said effectively, his legal argument has no standing. so the campaign continues to protest and a decision right now on whether that is going to be able to proceed. brian ennis with the latest on that count, recount, get another count going, where all that stands. what are you hearing? reporter: neil, good afternoon. president-elect joe biden won pennsylvania by 81,000 votes and the deadline for the counties, all 67 counties in pennsylvania, to certify their final results
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is by the end of today. but that has not stopped the trump campaign from filing hail mary lawsuits to try to stop the certification. over the weekend, federal judge matthew brand threw out the trump campaign's lawsuit trying to block the certification of the final election results in pennsylvania, in a fairly brutal opinion, writing this about the case presented by rudy giuliani. quote, plaintiffs ask this court to disenfranchise almost seven million voters. one might expect that when seeking such a startling outcome, a plaintiff would come for midably armed with compelling legal arguments and factual proof of rampant corruption. that has not happened. the trump campaign filed an emergency appeal to the third circuit, asking that they be allowed to go back to district courts to reargue this case, but under an amended complaint and the third circuit has agreed to fast-track this appeal and has given the campaign until 4:00 p.m. today to file its brief. meantime, there's another lawsuit filed by a group of republicans arguing that
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pennsylvania's act 77 law that established no excuse mail-in voting is unconstitutional. the bill was passed last fall and supported by a republican-led legislature and now this group of republicans is asking a judge to block the election results from being certified in pennsylvania. quote, the lawsuit reads at a minimum, the secretary and governor should be enjoined from certifying presidential and vice presidential electors until this court is able to render a decision on the merits of this action. that lawsuit by a group of republicans is essentially calling for seven million votes in enpennsylvania to be thrown t because they say the entire system is unconstitutional. at that point, they would be hoping that the electors could be chosen by republican-led legislature and that would go against the will of the people. this is a long shot of long shots and obviously, highly controversial. neil? neil: all right. thank you, my friend. following all of that from new york city.
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in the meantime, bob cusack with us, the hill editor in chief. bob, this seems to be running out of steam or at least legal options, to me. what do you think? >> yeah. i mean, neil, we are basically three weeks out from the election, and legally, the trump team has had some turmoil over the weekend and they are just not winning in court and more and more republicans, senator rob portman, republican from ohio, respected statesman in the gop caucus, he has come out and said it's basically time to move on. lisa murkowski, republican from alaska, put out a statement to that same effect last night. then the question is, neil, when do republican leaders come out and say it's time to move on? i don't think it's going to happen this week. all eyes are on mitch mcconnell, the majority leader. i think that comes sometime after thanksgiving, though. neil: i think it's interesting, you and i have chatted about this before, everyone agrees, most everyone agrees, i think even a lot of democrats, by all means, such a close contest,
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count and count again, make sure everything's right, but to prejudge it as fraudulent or rigged as the president has is sort of muddying the process. when someone like chris christie comes out to say that the legal team is a national embarrassment, that takes it to a whole new level. don't you think? >> yeah. that's right. rudy giuliani's press conference did not go well and that changed the minds, i think, of some republicans as far as when they decided to speak out. and of course, this is also, neil, this is a matter of public opinion, too. when you lose an election, you've got to start winning in the courts to change public opinion, because most people are ready to move on and go to the next stage of transition and then inauguration on january 20th, and honestly, they are running out of time and unless they have some big court wins based upon some facts that we just have not seen yet, to prove massive fraud, well, then i do think more and more republicans,
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even though they do owe the president a lot, remember, they kept the senate because of trump's 73 million votes, 10 million more than 2016, and they did well in the house, they actually picked up seats. so i think they are giving the president some time. then remember, neil, hey, the president could run in 2024. neil: i'm wondering, forget about how that helps or hurts his chances, this fighting over this vote legally or otherwise, in 2024, i'm wondering the effect it's having on the runoff election in georgia on january 5th. have you heard anything? does it help, hurt, does it rally the base, that they are going to push hard for these republicans, recoil other voters who say enough, already? what? >> that's a great question. certainly republicans are nervous about this whole issue going into those two races. republicans obviously, they have to win one to keep their majority. you know, i don't think it makes a major difference. i do think that those elections do favor republicans.
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republicans are favored in both those contests and certainly favored, no matter what happens, over the next several weeks to win this election. republicans are likely to retain the senate. neil: bob, always great talking to you. hope you have a very safe, healthy thanksgiving. remember, limit it to under ten people. we want everyone safe in the cusack household. put the in-laws outside if you must. >> i will. i will. thanks, neil. you, too. neil: anything i can do to start a family argument for no reason. bob, thank you again. again, as bob was speaking, you are probably noticing the dow up over 200 points. a lot of this built on vaccine optimism and the buzz around this astra-zeneca/oxford university drug. it's confused a lot of people because initially it was only 70% effective but it's kind of weird, with the dosage recommendation. if you take half a dose first followed by the next dose being a full dose, then your effective rate soars past 90% which is in league with some of the others.
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neil: all right. you remember john kerry, of course, the 2004 democratic presidential candidate, became secretary of state under barack obama. he's going to be really the equivalent of a climate czar, if you will, under joe biden. he tweeted out a little while ago america will soon have a government that treats the climate crisis as the urgent national security threat it is. i'm proud to partner with the president-elect, our allies and the young leaders of the climate movement to take on this crisis
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as the president's climate envoy. i should point out that one of the first acts joe biden has hinted at is rejoining the world climate accord that president trump, you know, removed this country from almost within the first few weeks of his administration. that being reversed right now by the president-elect. we will keep you posted on that. keeping you up to date on a big buying spree we got going at the corner of wall and broad, for the dow and s&p, which were nominally off last week. first down week we had in a couple weeks. what's buoying this is when you hear another promising vaccine and the latest entrant, astra-zeneca working with oxford university that has a treatment plan that much like some rivals at pfizer and biontech and moderna, regeneron, offer a way to get some treatment going and for emergency use, maybe sooner than you think. they believe they can have millions of doses out in short order.
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virtually all of these are kind of teasing or telegraphing the same. all good news to the markets and offsetting these spikes in cases that have been problematic for the markets. danielle dimartino booth with us now, former dallas fed adviser. also, grant cardone. you run the company, you name it after you. i do the same with this show. touche to him. danielle, first to you. on what we are seeing, i had an interesting spin on these vaccines regarding inflation, that they could bring a recovery sooner rather than later and with it, the potential for a little bit more inflation. do you buy that? >> well, neil, there's a lot to be said for your theory because we have throughout this very short 11-month period, we have taken a lot of players out of a lot of industries. so when it comes to, if you are
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thinking about supplying your company, there are fewer companies that you can go to and they will therefore have pricing power. we had some fresh data out this morning, in fact, that showed on the services side, their input costs are rising quite rapidly, faster than they have in years. again, we call it survivorship bias. there are a lot of very lean, mean companies that will emerge from this crisis stronger with stronger balance sheets than they have ever had, but also greater pricing power. that could, you know, that could theoretically stoke inflation here in the first and second quarters as we start to see this mass distribution that we have been promised and see the country start to see widespread reopening. neil: you know, grant, when you look at the issues that come back economically sensitive ones, airlines for awhile, the cruise lines that we're showing right now, all that i can understand but the unwinding of some of the pandemic plays we were seeing during the height of
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the shut-in that was going on throughout much of the country, so you know, less than advantageous environment for amazon and some of these others. how do you play the vaccine issue? just from an investment standpoint? >> yeah, so for me, neil, back to your inflation comment, i think we are in inflation and people are not seeing or recognizing that because wealth is moving to real estate, gold, see what bitcoin's doing right now, the stock market moves on any good news because there's basically no place for money to go, with money being destroyed at the rate that it's being printed and will be printed again through the biden administration if he gets in. i think any good news right now drives survivable companies forward. doesn't take into account the millions of small businesses, restaurants, bars and gyms that are being destroyed right now. they're not in the news. they're not, you know, tracked
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by the stock market. but the cruise lines, they are going to continue to suffer. the hotels. i don't even know how anybody in the hotel business, airline business, the cruise line business, the fact that any of these stocks would move on the vaccine coming is futuristic to me and not something i would bet on. neil: increasingly we are hearing from a lot of top folks who epidemiologists and the like, they are saying april, may that we could be looking at this and i stress could be, in the rear view mirror. that might be a leap of faith. you hope that's right. but i'm wondering from your vantage point how people respond to that. i do think there's going to be permanent sort of dislocations that are not going to be unwound. there are going to be a good number of people who will continue working from home and a good number of companies that won't have a problem with them
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continuing to work from home, and other businesses, to grant's point, that could be slow in coming back, airlines and cruise lines and the rest. how do you see this sorting out as we try to get back to something resembling whatever normal is? >> you're right, neil, there is permanent damage that has been inflicted on the u.s. economy. we have to remember that we are seeing record levels of tsa check-throughs in airports across america from a starting point, a starting point of record high hospitalizations so it's hard to say what the next six weeks, eight weeks, i feel like it's very short term in nature, but it's hard to say what the next short term period holds for so many countless u.s. small and medium sized businesses that had been holding on for dear life, and might not see anything in the way of pressu stimulus to help them get into the spring and next fall where they can truly see the light at the end of the tunnel.
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there is simply too much time between now and then given the timeline we have seen for the vaccine. there are, you know, i'm hoping that the one thing that is the phoenix that rises out of the embers is the entrepreneurial spirit in america and that we see the rebirth of countless numbers of small businesses because we know that it kwooqui few successful people are losing their businesses really by no fault of their own. neil: grant, very quickly. we are told president-elect biden is pushing for a quick stimulus deal to prepare for what increasingly looks like a recession. that's how his people are describing it. what do you think of it? >> well, i think you got wealth -- you got wealth basically forcing inflation on themselves right now. they are buying ranches at like historic numbers. it's unbelievable. i was shopping ranches this weekend up in colorado and it's crazy, the kind of movement to
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bare land where even cattle ranchers can't keep what they have because wealthy people are buying houses, suburban houses, beachfront houses, estates, anything where they can park money because money's being destroyed. now, that's going to, you know, the everyday guy is going to have to get stimulus because we are going through a destructive process today that simply does not get reported on wall street. it's big pharma, big tech and the little guy, the everyday mom and pop are getting just banged up, beat up and there will have to be some stimulus because i do believe we will move in a long period of a recession, possibly longer than the great recession. unfortunately. neil: i hope you're wrong about that. we'll see. grant, thank you very very much, i think. danielle, good seeing you again. be safe this thanksgiving week, guys. i appreciate it. to the bigger point here about whether we do enter recession or whether we do have stimulus to deal with something like a recession, charlie
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neil: all right. joe biden is very busy naming some key cabinet positions. we already know about antony blinken, the former number two at state department to be the president-elect's pick for secretary of state. jake sullivan as his national security adviser. likely linda thomas-greenfield as his ambassador to the u.n. john kerry is going to be his climate czar. avril haines as director of national intelligence. but the one that a lot of money folks are waiting on is the expected pick for treasury secretary. you know, we are getting some idea, it will not be the conventional sort of white male choice that has dominated that post going back to alexander hamilton. charlie gasparino was there covering hamilton in those days. he now is previewing what we could be seeing these days. good to see you, charlie. what are you hearing on the treasury secretary front? charlie: because of my old age, i have been through more than a few recessions and great
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depressions and you know, there's an -- i heard your last segment. there's an equally good case to be made that we are not going -- that once you get a vaccine going, we are not going to have a depression or major recession. the economy's going to come back. there's tons of money on the sidelines waiting to go to work. small businesses will open. even in harsh lockdown areas like new york, there will be somewhat of a revival. broadway will come back. i'm always a doom and gloom guy so take it for what it's worth. neil: i only posited that to explain the latest talk the biden team is looking for a quick stimulus deal to head that off. we don't even know that that's accurate. but continue, then. charlie: well, the best stimulus would be a vaccine, obviously. but here's what we know about treasury secretary. you know, listen, fox business, this was written about last week, i just want to get our viewers up to speed on this. there were three -- there were two essentially candidates and a
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dark horse. the two major candidates were lael brainard, fed governor, roger ferguson, who just resigned from tia creff so you probably know he's going somewhere in the administration and as a dark horse, janet yellen. janet yellen as a dark horse, as susan reported and other people reported, and according to every wall street source that i have right now, are hearing things, okay, they don't have the exact leak just yet because apparently, you can't do fbi background checks right now, because trump hasn't -- the president hasn't conceded so you know, it hasn't leaked out in a major way, but the thinking now is that it's yellen. why is it yellen? well, simply because she's the type of person that could unite both the progressive wing of the democratic party and wall street kind of likes her because she's a known quantity. she ran the fed as you know, so she had to deal with all the major bank ceos. so essentially, that's where we are right now. it looks like it's yellen to
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thread that needle. the positive news for wall street and business community in general is that it doesn't look like elizabeth warren's going to get much. it doesn't look like bernie sanders is going to get anything. and you know, you kind of don't want them in as treasury secretary or labor secretary or something like that. now, why is that? just reading tea leaves, susan rice, the former ambassador, very connected with the obama administration and benghazi, did not get the nod for secretary of state, obviously. and so far, we haven't heard that she's getting anything. what you are sort of surmising from that is that the biden administration believes there's going to be a republican-led senate, that republicans are going to pick up at least one seat in georgia, so anybody who is contentious, they don't want to go with. so if that negates susan rice, the thinking goes that negates bernie sanders and elizabeth warren. and you have to throw the left something, so janet yellen, who didn't quite invent the money
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printing machine during her years at the fed but she used it a lot. back to you. neil: she was a good chair. she was a very good fed chair. charlie: wasn't bad. yeah. neil: thank you. wasn't bad. listen to you. charlie gasparino following all those latest developments. by the way, governor andrew cuomo in new york is talking right now to the press and some of these restrictions on how many people can come to your home. he says that to criticism that it's not his business what happened in folks' homes, he said that the laws still apply in your home. it is the government's business. he says that upstate [ inaudible ] otherwise. more after this. did you know you can go to libertymutual.com to customizes your car insurance so you only pay for what you need? really? i didn't-- aah! ok. i'm on vibrate. aaah!
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how do you look at this, whether the company is getting ahead of itself. jonathan hoenig following all of this, the capitalist pig hedge fund manager, much much more. jonathan, what do you make of what's going on here? seems to defy criticism from car experts and the like that maybe they are slipping a little bit but you wouldn't see tonight it stock price. >> what about defying gravity? that is this stock. this stock is not just up, this is a stock that's up 500% this year, the year of the pandemic, and as you said, 30% just in the last month on news of that inclusion with the s&p 500. there's a lot of things going ahead here. for one thing, this isn't a car company, tesla. it really is a technology company. it reminds me a lot of the dot-com era, in this specific way. evs, electric vehicles, that's a big trend. but basically, tesla has been the only legitimate game in town for a couple of years. that's very similar to the early days of the dot-com when basically you had netscape and a few other names.
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tesla has been the number one leader for evs but keep in mind, this is an unsustainable valuation. it's a pe of 646. without selling all those emissions credits they sell back it would never have been able to make it in the s&p 500. neil: like you say, it is a more crowded field but you know, i can remember the same was said of apple, that it had crowded competitors, it sort of touched on others' businesses that happily survived all of that. but tesla is a different case, you think. >> yeah. look, unlike apple, tesla has had some pretty bizarre antics from its celebrated leader, elon musk. keep in mind that infamous joe rogen appearance and getting high. he named his kid some bizarre computational symbol. he's tussled with the s.e.c. in the past. that hasn't bothered the stock. in fact, the short sellers have lost something like $600 billion in just the last couple of
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months as this stock has rocketed higher. i will go back and close with the cisco example. if you had bought cisco at that dot-com high, put $1,000 in it, you would have about $600 today even though cisco makes more money today. that i think is the fear with the great stock like tesla or company like tesla, is that the technology could advance even as the stock contracts. neil: that's a very interesting analogy. have a great thanksgiving, my friend. thanks for all your help on all these matters. jonathan hoenig following that. with all these concerns, tesla's stock heads up, the dow is up so all this issue the markets are getting ahead of themselves, will they keep getting ahead of themselves? or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. ...
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corvus gold, gold rediscovered. neil: all right at the top of the hour 1:00 p.m. on the east coast of the united states, another vaccine that could be coming out sooner rather than later, teaming up on a vaccine that it was 70% effective until people started going underneath the hood on that to realize that it's 90- plus percent effective and taken an unusual doseage regimen , about half a dose first followed by a full dose and a second dose after that, with a temperature requirement that pfizer biotech requires to a
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lesser degree, mederna in the mix and regeneron with its antibody treatment to deal with covid-19 and getting 300,000 doses ready there, so it's a busy potential candidates to address what has been on the world that has claimed close to 1.2 million lives and more than 254,000 lives in this country, blake burman with the latest on all of this from the white house. hey, blake. reporter: hi there, kneel on this news from astrazeneca makes it the third promising covid-19 vaccine candidate we have learned about in the last few weeks overall, astrazeneca says its candidate is 70% effective but it's interesting how it all breaks down, because when there is a full dose given and then a month later another full dose given, it was about 62% effective; however, when a half- dose was initially given, followed by that full, the efficacy then jumped to 90%. those behind the vaccine say that means they could potentially vaccinate more people faster.
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>> i think it's very promising that if the half-dose, full-dose is the dose regulators will choose, then of course we can vaccinate at least for the first dose many more people around the world. reporter: now, keep in mind these trials are for people 18 years and older, studies on children right now, are just getting underway, for example, in ohio right now, dr. robert frank of the cincinnati children 's hospital vaccine research center said they've recently been testing about three to 400 or so, 16 and 17- year-olds and then from the ages of 12-to-15 they have about 100 or so children right now, that they are looking into for testing. dr. frank says as far as everything that they've up until this point, they're very encouraged. >> what we seen so far is the safety has been very similar to the adults is that some people are having some aches and pains, but nothing has been serious, nothing that's caused a child to miss a day of school, so we're very excited about that
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too, is that it gives us heart that we'll be able to move down further in age. reporter: among the other promising developments the top doctor on operation warp speed said that he believes the first vaccine, the pfizer candidate, will hit the marketplace either december 11 or december 12. that flows in line, neil, with the fda saying they will be talking about the pfizer candidate on december 10. neil? neil: blake burman, thank you very much, my friend, blake burman from the white house on all of that. you might hear that a lot of people trying to guide you on what you should do at thanksgiving and all of that is if you can try to have your family event outside, of course weather-permitting and that's a problem here but it could explain why the national park and others have been sort of the breeding grounds for testing how to deal with covid-19, but there's a strategy to that. edward lawrence at the national 's park in washington d.c., how this is all playing
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out, because outdoors is the key , i guess, right? >> yeah, neil and a rise in cases, a rise in the amount of testing that needs to be donald we've seen now 100,000-plus new cases in states across the country for the past 20 days consecutively in a row and many states are dealing with this in a very different way in washington d.c. the district of columbia now the mayor today announced they are reducing the amount of people who can go inside for dining it's now 25%, gatherings were limited only 10 people in d.c. also, she says, that anyone coming into d.c. has to be tested before they come here to visit, or within three days of being in washington d.c. i did get a test actually today was negative. i came in from north carolina, so they are dealing with it in different ways. one of the ways is opening nationals park and this is a massive testing center in about 90 minutes getting ready for foot and car traffic and they have to do that and expand
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it because they think people going away for thanksgiving dinner will want more tests, people coming back in after thanksgiving dinner coming back from the holiday travels will also want tests, the expanded testing going on for longer and now in los angeles, for example, la county decided they will ban all in door and outdoor dining and that's how they are going to deal with that. the governor being very restrictive there, people backlash, fighting back against that over the weekend here, those lockdowns but some newly- elected lawmakers are saying that some states, including california, have not done a good job balancing the livelihood, testing and coronavirus. >> as you understand, covid-19 has taken the lives of thousands of people each week, so this is a serious issue, and everyone should have and have been taking personal responsibility, so governor newsom recently like targeting certain businesses, restricting religious gatherings
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, unilaterally instituting statewide curfew, i think they are expressing their frustration. >> frustrated for being the lockdown, or having to go through this lockdown, but also frustration as the testing increases, more people are wanting to have those tests, and that's the reason some areas like the district of columbia and other states are responding using these massive stadiums to handle all of the volume of people who want to get those tests back to you, neil. neil: you might have touched on it edward, are these the rapid tests or all types of tests? >> well you actually get a choice if you want the rapid test or the longer test that takes a day or so. the rapid test you can have the results here in 15 minutes possibly an hour if they are a little backed up but in the beginning 15 minutes, the longer tests take a day or more and you get to choose at the top of the form you can fill out rapid test or not. neil: i assume the rapid test be the longer line, right? >> yeah, you know, it's the
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same line for both, so everybody is mixed together who wants which test. some say one or more accurate, some say others are not. the rapid test is certainly not as on truce ever as the other ones, it doesn't stick the swab all the way up your nose but the rapid test is just on the edge which is the one i got and more people as i'm seeing as i'm being in these testing areas more people are going for that option to know today whether they are positive or negative and they can make choices based on that. neil: yeah, i like the rapid test better, edward just a shear convenience and embarrassing people can take pictures of but we'll see what happens edward be safe, edward lawrence following all of those developments. by the way we talk about covid and the vaccine and everything else and whose in coordination with what. that's why we're a little alarmed to hear that the president's covid vaccine chief apparently had no contact with the president-elect
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transition team. whether we should be worried about that or not i thought i'd raise it with dr. mike levit, of course the former health and human services secretary under president bush 43 and the former utah governor as well and doctor , the two aren't talking, i can understand the count going on and everything else, but this is covid we're talking about, and you'd like these guys kind of, you know, reading from the same medical choir book but what did you make of that? >> well first, neil, nice to be with you, and i should point out that i'm not a doctor, but i follow these issues very closely neil: my mistake, i'm sorry. >> no, that's all right i just don't want to surprise my mother neil: [laughter] >> they need to coordinate, there's no question and no reason they can't. the president needs to allow that. there needs to be contact, this
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is what transitions are about and this is a vital hand off. neil: do you worry, and i understand the right of the president to make sure every vote is counted i get that of course he is charged fraudulent and other, you know, pretty high crimes here that make you wonder whether this is a little bit more about a final count, but when it disrupts the two sides or potential incoming administration trying to get a coordinated response with this virus, then it escalates beyond politics doesn't it? >> it does, but we would have been through a period when both could be happening and we're now at a point where at least the transition ought to be happening and so i'm hopeful that the administration will respond to that, that many others are taking that position as well, but this handoff of the vaccine distribution is a particularly sensitive and important part of this. now that isn't to say i don't
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have confidence in those that are coordinating it. i think they're working hard. i think there's a lot of vaccine already finding its way to states in advance of approvals. i think the american people should be very pleased with the progress of not only development but the progress that's been made in being able to do this in parallel. that's one of the things that's made it quickly and has been done quickly is that a substantial amount of risk was taken to manufacture the vaccine and then begin to ship it and to store it, even in advance of the approval. neil: so let me ask you, secretary, when it comes to now with three, possibly four potential vaccines out there, or ready to launch, certainly for emergency use in a matter of weeks in the case of a couple, how is it decided and what department decides who gets it and when? >> the initial recommendation will come from cdc. the cdc is a part of the department of health and
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human services and the secretary of health will be involved in that very important strategic decision. there are some age-old priorit ies that i think will take place, will be used here. first of course will be first responders, healthcare workers. they are putting themselves in harms way every day. we've all reflected on them as heros. they need to have this not just to reward them but because we need them there working. the next will be those who have special health needs. those who are of an age and have underlying health conditions. there will be another group, first responder, people who are workers that have to be in place to make the transportation system work and other vital services. as we go forward, the entire public will have access and i'm confident it'll be by april or may. neil: all right, fingers crossed
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, secretary thank you. you might not be a doctor but you certainly sound like one in my eyes, so i'm going to recognize you as an honorary doctor. mike leavitt, the former health and human services secretary under bush 43 former utah governor as well. a lot of you might not have heard of the company called meso blast, but i bet you have heard of the company called novartis, because novarti s is licensing a co-founding therapy from mesoblast and the stock has been soaring and the attention it's getting and a lot of people say its delayed justification for a company quietly making dramatic end roads on accuse respiratory syndrome or a condition where fluids can build up in the lungs at a particular problem with advanced covid-19 patients. many of whom suffer miserably, many die as a result and this could be a significant
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development and mesoblast chairman and ceo joins us right now, dr. atesko. doctor very good to have you i'm sure this is welcome development for all your hard work and your company's hard work, what does the novartis investment mean? where does this put you? >> thanks for having me. look, we're developing an off- the-shelf self therapy for the treatment of severe inflammation in the youngs which is the number one cause of mortality in covid-19, and it is a complication of many other viruses and bacteria that infect the lungs. we've got a phase iii program that is currently more than two-thirds enrolled and the strategic collaboration with novartis is really focused on completing this program and being in a position to develop the product stem cell for a wide variety of ards individuals
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beyond just covid-19, also influenza and other infections. we're very excited about the collaboration with novartis and i think it will strengthen our ability to bring a commercial product to market and strengthen our ability to scale up our manufacturing in a way that we can make the quantum of product necessary to meet the large unmet need. neil: you know, doctor and you're quite right to point out even in cases of severe pneumonia and fluid in the lungs and how it gets to be particularly problematic for the elderly population, to your point the very population most vulnerable to getting advanced cases of the virus and entering intensive care, many dying before that being placed on ventilators. i'm wondering if this aspect of what you're working on has been appreciated enough, the runup in
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your stock notwithstanding given novartis but there was that going on long before novartis so i'm wondering now whether people are putting two and two together that this hurts, kills a lot of people way beyond the coronavirus and if you're making progress on that front, the implications are enormous. >> well, let's talk about influenza for a moment. we've got a pretty good vaccine for influenza and despite that as many as 60,000 people a year die from influenza ards and that continues to be a high mortality complication so we should only hope vaccines for covid-19 are success fell as they appear to be right now. without them we be having an overwhelmed healthcare system so with successful vaccines, we still expect a large number of people to either not respond effectively to these vaccines or not want to take these vaccines
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and fall between the cracks. ards is the number one cause of death from these severe respiratory viruses and the treatment that can reduce the severe inflammation and help reduce mortality is sorely needed for not just covid-19 but influenza and other major bacterial infections of the lungs. it's a problem that's with us. neil: so doctor, just to be clear here, if this could ward off someone, for example, being put on a ventilator, that, alone , would slow the progression and certainly the severity of cases and deaths associated with it. that would go a long way to drastically altering the math just on covid, right? >> that's right and i think what people need to understand is that there's three ways, complementary ways to be treating a virus like covid-19. there's of course the vaccine on the front end which serves to reduce spread and infectivity
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from person-to- person and then anti- virals which of course need to be used to develop and reduce the grade of viral proliferation and infection in a given individual and at the other end there needs to be therapeutics for those who are progressing rapidly to need a ventilator or who are on ventilators and that have a mortality rate that approximates 50% to 60% so all three need to be considered and developed simultaneously in order to improve the outcomes that we're seeing right now. neil: very promising, doctor, thank you very much, dr. silviu itescu, the meso blast ceo, that could dramatically alter the equation when it comes to looking at the progression of covid-19 cases but well beyond that both influenza and some of the things you hear so much about this could be a game changer on all of the above. when we come back, you might recall that president trump has fired a lot of cabinet members
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adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business.
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neil: you know, donald trump made a lot of news by firing cabinet officials via a tweet. they never what hit them and the president-elect joe biden is announcing, at least, his cabinet picks via tweet. he does give these choices, obviously, a heads up before doing that. hillary vaughn has been sort of gathering the names and some of the picks that will be formally announced later this week as soon as tomorrow, but we've already got a pretty good indication of who he is populat ing that cabinet with and why he's doing it the way he is. hillary? reporter: hi, neil. well that's exactly right. president-elect joe biden's cabinet is filling up. he just released some the first round of picks for his cabinet just a few moments ago and there's a lot of familiar faces on it. for secretary of state, anthony blinken is biden's appointee the second in command at state serving as deputy secretary from 2015-2017 under
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the obama-biden administration, head of homeland security appointee ale jandro mayorkas, serving as deputy secretary of d hs from 2013-2016 and also the first latino and immigrant to be nominated to the top job and he also head the implementation of the daca program, andavril haines will be the director of national ins the first time a woman will be serving in that role and haines also worked for the obama administration and first is deputy national security advisor and later as deputy director of the cia during her tenure, linda thomas-greenfield is the u.s. ambassador to the u.n. coming out of retirement to fill this role after hanging her hat as a career diplomat after 35 years in public service, jake sullivan will be biden's national security advisor and he also has a long history working for the obama-biden administration where he served as deputy assistant to the
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president and national security advisor to then-vice president joe biden, and finally, biden is adding a brand new position, part of the national security council, a special president shanksville enjoy for climate john kerry who helped craft the controversial paris climate accord that biden has promised to rejoin on day one as president and he also co- founded world war zero, a coalition of celebrities and world leaders like bill clinton, and leonardo dicaprio to drive public policy towards climate change and he also most-recently co-chaired a biden's climate task force with congresswoman alex andrea ocasio-cortez but really the questions here, neil is how are progressives reacting to this first round of picks for filling out biden's administration and one foreign policy progressive that i talked to really had a luke warm response to this saying it's
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understandable that these appointees have been appointed. neil? neil: all right thank you very much for that, hillary vaughn on all of that so what's the make of potential unrest is concern among some progressives in the democratic party, and the liberal comentator, rate or host as well as the independent women's senior policy analyst, ethan, you keep in good contact with a lot of these folks and some of the more progressive side are not flipping over some of the names being mentioned, they're not progressive enough, or they're too vanilla or too business as usual. you heard all of that, i'm sure. what do you make of all of that? >> yeah, there is some concern on the progressive left, that this is not an aggressive enough positioning of people, but look, this is really what it's about. joe biden, president-elect biden , is getting ready to try and stabilize our country after four years of the chaos
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presidency. i see these picks as those exactly, he's avoided the most controversial picks, so we can get through a senate confirmation process, which again, has been skipped in recent years, and we could have some normalcy return to the world order, that one exception there really is probably john kerry is the most controversial of all and so we're going to hear, you know, a lot of condemnation from the right on that, but look, we have to start somewhere. let's stabilize the ship first and then we can address the bigger picture as we move forward. i'm pleased with these picks to be very direct. neil: yeah, i don't even know, does a czar have to be approved the senate but patrice, what do you make what you've seen thus far of these names? >> picking up on your last point i don't believe a czar needs to be confirmed by the senate which is nice way of letting john kerry get his revenge and certainly i can imagine his business will be getting the paris climate
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agreement back on track, again so i think when we look at the -- neil: but that's going to happen regardless, right? joe biden promised that if he were elected he would rejoin that, so i don't know if it makes a big difference that john kerry will be the point person for it but you think it obviously will? >> well, i mean, i think it's going to be, it certainly would have gotten done but i think for john kerry, it's a nice little gift to him to say yeah you've kept us going and certainly got the far left voices like aoc, so this is going to be a nice appeasement to them and all of the other names so far are obama alumni. i'm actually looking at the pick for dhs, and dealing with the daca program, for example, and the engineer of the daca program who may finally bring some resolution to what happens to these dreamers, and so that was a missed opportunity on the obama administration's point
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, and maybe something that's done, but i think progressives i'm just going to guess here, that they're looking at these picks saying okay, foreign policy that's fine, we really want to see what's going to happen in domestic policy where they're holding their nose neil: need an , i'm wondering too and you mentioned at the outset here about what could pass senate must era proved in the senate given the close senate and say it stays under republican control, it wouldn't be by much but all you need are a couple of republican senators to say no to a pick and then it's gone, so is that a strategy here that what and would could get by a republican senate and maybe why susan rice didn't finish for any of those posts so far as things stand. >> well i think that's a secondary consideration. again, i think what president-elect biden is looking at here is let's bring in professionals who have deep experience in these areas in these different gigantic, let's talk about it, gigantic
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government bureaucracies in restoring some connection with our allies on the world stage, to your point though, i think that susan rice was a strong candidate and was passed by because of what would have become a very controversial senate confirmation hearing. the rest of these picks are deeply experienced. i'm really excited about our new u.n. ambassador and the fact that she brings deep experience in both republican and democratic administrations serving bush and obama. this is great. it really brings u.s. standing to the world stage back into a place where we can lead, we have a seat at the table, and we have a voice in guiding the world as opposed to rejecting that and stepping away from everything. i mean, trump was, stepping away from the world health organization, stepping away from u.n. agencies. this is an important step in the right direction to stabilize , and i appreciate it.
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neil: patrice, i don't think you share that view. >> no, i think there are going to be myself and many people who look at these picks and the change in direction as putting america no longer first, but putting america along with the group or behind the group and i think that the shift towards embracing the united nations and international world bodies like the w. h. o. in decision-making for what's important to americans is going to be a position and i think when we look at how the coronavirus pandemic has turned out and when we look at the world health organization and its role in supporting china, not holding china responsible, i think there is really good reason for us not to say, to be in fact putting the interest in other countries ahead of the united states, and i think that's why the america- first agenda was very popular with so many americans who look at international trade deals and say well we've actually gotten the raw end of the stick and now i'm one who believes certainly
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in international trade, but i also recognize that many of the trade deals in the past have put americans at a disadvantage on certainly, i think, the trump adminitration has done a lot to try to change that and so this is going to be a whiplash change in foreign policy, i think, and there are going to be a number of americans who will say no this is know the what we stand for we actually do like putting america first. neil: we'll see what happens, elections have consequences so we'll see what the consequences of this one are. guys please have a safe very happy thanksgiving. whether you're at the in-laws or not, you can juggle who eats outside. when we come back here, you know all of the people have been working out of home and that's going to continue and some will relocate because of that and now a lot of companies are coming back now i'm going to cut your pay, more convenient for you, it's cheaper for us, it's a win- win and the workers are not thinking that way.
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neil: all right, stocks have been moving up and oil has been moving up, smartly, in fact week after week its been a steady gain i think we're at the highest we've been since around september 1, so what's to make of that? normally it's indicative of a market that telegraphs a come back, things going around so poo-poo'ing a talk of a recession but i know the genius when i can find one and i'm happy to have gary kaltbaum on what he makes of that and the significance of that. it does seem to be, gary, the market's way of saying at least when it comes to oil there's a pickup in activity because they have certainly been buying a lot of it. what do you make of it? >> two mondays ago, november 9, that this whole structure of the market changed when the vaccine was announced and each monday, we've had good news since that day, oil prices are up, so oil stocks are really
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starting to kick into gear in a big way. interest rates on the long end are up so that's helping financials. all the economically-sensitive names that were kind of sort of dead money for the same five to six months, they're on their way now so leave no doubt the markets in the big belief we're going to get back to normal over the months ahead and it's now becoming what i call persistent and gaining some teeth and i think there's going to be a bunch more to go in these areas. neil: you know, you always invite my most idiotic question so i'd like to go rapid fire with you, gary on some scenarios on how you think the market might respond. the one thing that's ongoing legal fight the president has over the states and election returns, if he gives up on that, if he concedes, what would the markets do? >> it's not going to hurt the market. i would suggest it only helps uncertainty is not good for
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anything in the markets, but again i really think that the big story is a vaccine at this point in time but any good news on the election front, i'm not talking about who won or who lost but just getting away from the back and forth and the things we're dealing with on a daily basis is typically will be good in the short-term for the market neil: another one , vaccines are always promising always good news but we learn from the pandemic, we've learned from another the flu vaccines that came out, the swine flu vaccine that came out, they had a bumpy launch. if there are problems with any of these vaccines, or anything that we didn't expect, how would the markets respond to that? >> anything that would stunt the opening of the economy will affect the markets in a negative way leave no doubt. again, i watch the markets like a hawk. we watch 200 sectors for how they move and institutional buying, and the big bet going on right now is the opening up of
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everything in the next few months, anything that stops that will stop the market dead in its tracks and start pulling it back again, but i'm in the camp that i think we got like three vaccines and i hear there's 10 more being worked on. that's all good news and i can't wait so i can go to a mets game again. neil: all right, that saves time for my most-important question of all. if any team, in the nfc east, takes the division and goes all the way and wins the super bowl, i don't need your snide laughter on this. the market impact of that be? >> here you go, the giants will win super bowl. i didn't even know you were asking that question, neil. neil: [laughter] you are just shameless. >> only good news if the giants win. neil: they're altogether, three and six. it's too incredible for words.
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all right, thank you, my friend, you were ready and you didn't know that was coming. >> i had no idea. neil: all right, my friend. >> happy thanksgiving, neil. neil: happy thanksgiving to you as well, more after this. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪ damom, look!get sare you okay??
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it meant so much to nellie, maybe it could mean as much to you... call now and get your free infokit neil: all right, if you like working from home for those of you who have been doing that maybe for many many months right now, well you won't like this idea that a couple of employers are kicking around, charging you more for the privilege by actually cutting your pay depending on where you are commuting from and whether you're going to safer, cheaper confines to do it, it's not quite that simple and not quite that black and white but we are joined right now from san francisco with what they're kicking around what's going on here, claudia? >> hi, neil it's called pay- relocation and in fact you're right some tech workers pulling up stakes are seeing their salaries take a hit, cloud computing software maker vmware
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among the firms paying their staffers less if they leave silicon valley for a more affordable city telling fox "we just pay in line with our competitors and industry practices based on the cost of labor in any given market. " marketing firm traction closed its san francisco office entirely and calls its pay relocation policy an employee benefit. >> just to make sure that all of our employees are paid at a level that allows them to maintain a great lifestyle, and that's commensurate with the market that they're in. this is not just a pay reduction policy. it's a pay adjustment policy, so it really allows us to have an american workforce, not just a san francisco workforce. >> tying people's salary to where they relocate comes as a flood of tech employees working from home leave the bay area for more space in a better quality of life. those who track employment
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trends say the salary cuts reflect more than cost of labor, or even cost of living adjustments. >> to move to different areas your productivity might be different because of the soft aspects of work, things like networking, things like proximity to customers, all the soft informal things that go into making a job what it is and what people earn will be affect ed by where people locate. >> according to the employment website glassdoor, tech workers could see a 20% cut or more if they move from san jose to denver, for example, or from san francisco to portland. employers defend this policy but as you might imagine, the number s are not in significant, neil, and pay relocation has become a bargain ing issue as this pandemic continues to disrupt the traditional 9-to-5. back to you. neil: claudia how would they know you've moved? i mean, well i guess you have to
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furnish your address and all that. go ahead. >> well i think there's an honor policy here, we know that mark zuckerberg at facebook said he will come down hard if he finds out any of his employee s have moved without being forthcoming about it and v mware and some of the other tech firms have tools on their website so people can map out and decide, you know, what be worth it for them to move to a certain city. it's an interactive waging tool, salary tool, so but i bet at the end of the day, neil you'll see a bit of the honor policy at work here. neil: yeah, it be a revealing zoom call with seagullahs flying behind you and they say wait a minute you've moved claudia thank you very very much claudia cowen on all of the that , man oh, man big brother taking a peak at you. food for thought good luck finding food at all at restaurants. many more are facing pressure not only because of the delay but because they can't take even
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are having the count problems with the vote thing but a far bigger issue in the philadelphia metropolitan area is what's happening to a new crackdown on indoor/outdoor dining, no indoor dining now, the same with museum s, libraries fitness centers that are closed, take out and delivery outdoor dining are allowed but man the limitations are pretty profound, and all of this to address which has been a serious rise in cases in and around the city of brotherly love and my next guest knows it very very well scott campanella is chief operating officer of the garsis group with incredible restaurants under their umbrella and i wonder do you still have the village whiskey is that still under your grouping? >> thank you, neil and thanks for having us today. as a matter of fact i'm here. neil: perfect. >> this is the new dining room of village whiskey, it's empty unfortunately, we just finished construction to keep it safe for our guests. we were open for about four days
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and then had to close to the new city mandate. neil: incredible. delicious stuff by the way but i digress. i'm curious the new restrictions , do we know how long they are supposed to be in effect? >> well, so, these are kind of rough estimates. i think the city is working with a january 2 tentatively, based on the overall increased counts of covid test positives in the county or city of philadelphia but ultimately the city's goal is to get through the holiday season which for us is a very difficult time. we were all counting on the holiday season to kind of lift us out of what was happening through the end of the summer and into the fall. neil: so that's your money making time to put it mildly, so right through the holidays, you're shut. >> it is. neil: now what about as if
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outdoor is an option there, but what are the options for the half a dozen or so restaurants you have in the greater philadelphia area? >> the options aren't great. we all talk about the restaurant scene equally hurt even possibly more devastated is the catering industry in which we participate in catering also. catering is a gathering of people. we also rely on the holidays on our catering businesses relative to purpose over for the balance of this year. what do we face? well it's philadelphia. you're familiar with what the east coast is like trying to capture business on a sidewalk in the middle of the winter is not easy. it's a bit of a fooled earned and so we haven't gone that path after spending the vast majority of our available capital on the renovations in our properties to meet the city's current mandates. we can't really chase down sales
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on sidewalks in inclement weather especially when there's limitations like four people to a table and they have to come from the same household that's just not possible for us so we've developed an e-commerce platform by which we can deliver and have our loyal followers come to our restaurants to pick up food and we do that, neil you may be familiar with the old book binders building in philadelphia we operate that building as the old bar and that's kind of the hub of our operations where we have an organized pickup and delivery program. neil: but you can't deliver the whiskey part, right? >> [laughter] so there are very strict limitations in the state of pennsylvania around the delivery of alcohol, but the truth is that not all of our venues are well-equipped for either outdoor dining or pickup and delivery so we've elected to consolidate our workforce into a single location and let the other seven properties go dark during this time and try and plant the flag at this grand old
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building that's been an active restaurant for nearly 150 years and try to make a go of it there neil: i wish you well, scott, just an outstanding restaurant particularly the one that you're in right now i know quite well. >> thank you so much. neil: hopefully, this too shall pass. scott campanella, the garces group chief operating officer. businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. ♪ birds flyin' high, you know how i feel. ♪
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neil: regeneron is the latest company to have the antibody treatment to go ahead and get distribution going tomorrow. that kind of leap-frogs some of the other potential treatments the antibody treatment which wards off the threat of covid-19 so more good news on the vaccine and treatment front here is charles hey charles. charles: hey, neil thank you very much love all this good news i'm charles payne and this is "making money" breaking right now, well the markets are reacting positively to vaccine monday, they continue the third covid-19 vaccine showing 90% effectiveness and economic data continues to impress but what's missing? what's the next big spark? meanwhile the market is somewhat stronger than the major indices suggest and this , while there continues to be these industries , these small industr ies that are sizzling, and the investment things you should know about plus i'll go in depth on market jargon that's driving me crazy and offers some better analogies for investors meanwhile joe biden is starting to name members of his cabinet w
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