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is david solomon chind of the key person here in revaluing this company or is it just the market environment, the fact in a rates are up a little bit and that sort of thing? >> i think it is a little bit of both capital markets have been strong activities wide, that plays into goldman's hands. certainly given them tail winds. but saved solomon made a lot of good changes that are starting to show up in bare fruit as far as generating revenues and improving profits. i think there is a fundamental shift going on within goldman as well as being exposed to the markets which have been really strong the goldman sachs stocks are up a lot. even after the current run i still see upside. >> you just raised your price target jeff to $420 a share. that's only about 13% upside or so from here how did we know -- are we talking with price the book? tell me about valuation metrics and whether they are historically underor over valued here. >> i am used to looking at price to tangible book value and comparing to it the rotc you can do it over time, depending on what they earn as far as rocte, you can look at

well, david solomon owns parents quality meat and seafood and he says since march prices from suppliers of ana. and while much of the increase or on seasonal cuts. he's just trying his best not to pass that increase on to his customers and it's going to impact your summer barbecue. >> we've seen a significant increase in risk of in. >> what i call the stroke cuts. your skirt stake, your claim state. you're hanging tenders doubled we make a little more money sometimes we make a little less money. but for the most part we can keep things consistent. >> now. that doesn't seem to be the case like take, for example, this 4 pound cut of the state from the bay area costco buyers can usually find the same cut for about $30. but this week it was selling for nearly 80 bucks. experts believe prices will moderate hopefully soon. still ahead on the kron 00:00am morning news, one bay area mayor says he's no longer messing around when it comes to sideshows. >> and he's planning to put a brake on the legal driving. >> welcome back to the kron 4 morning news. we have been actively trying to get through

go talk to david solomon of goldman sachs. go talk to larry fink. go talk to elon musk.m think the era of engagement with china is over. all of those players are planning on investing more. the fact that there is a growing gap between a non-patriotic, globalist, multilateral players in the private sector and the democrats and republicans in the government to are saying china is much more of a problem, that is a gap that is going to become increasingly a very interesting space. cu starts to win when we get that much differentiation. when you have democrats and republicans starting to call out hypocrisy on the part of lebron james, for example, for being woke in the united states but subservient to beijing, that is going to become a challenge over time. it is not clear who wins. alix: ian, really wonderful to catch up with you. ian bremmer, eurasia group president. a quick note on that, it feels like that is what hsbc has been fighting over in the u.k. for the last year -- well, for a while -- but i don't yet see how that is going to play out. guy: you look at all of these

funnily, today you have david solomon, the ceo, traveling, meeting clients.n back to normal for some time. some things that are not so back to normal for goldman, there's free food. there will be music outside throughout the week. so they are doing everything they can. tom: ok lisa, we've got it here. lisa, can you imagine what a goldman sachs breakfast is like? how gourmet is gourmet? dave: probable -- lisa: probably, people would say the same about our bloomberg axis. sonali, the blaring horns are a sign of just how much people are trying to come back to work and come back to work in their cars, not necessarily using public transportation. is there a sense that there is gridlock or a scramble to figure out how to get back, and people don't feel safe yet using public transportation? sonali: public transportation is a big part of this. a lot of people don't live in new york. safety has to come first. interestingly, some of the new rules that goldman, if you are vaccinated, you don't need to be wearing a mask, but if you are not vaccinated, you need to be wear

they have coffee corners around the building to create that watercooler vibe, and david solomon himself is on the road seeing clients. it certainly does look a lot like before covid out here outside goldman sachs. people hugging, people giving high fives, certainly happy to see each other, and for the first time, about 2000 interns being brought into goldman sachs' offices as well. guy: thank you very much. happy to see yet stop raining as well. doesn't exactly say go back to the office in the rain. thank you very much, indeed. it is really interesting to see how different folks are handling this. goldman trying to bring people back, trying to get momentum behind the story. citi taking a very different attitude, continuing the hybrid, pushing that story out until later in the summer. alix: i have to wonder what the aftermath of that is going to be. is it going to be enough to pay people to get them back in the office, or do you need to help subsidize willing workers to stay by other stuff? it is also a very different environment than in europe, which is super hybrid at this point, versu

. >> congresswoman -- >> congresswoman, this is david solomon. we recouping hundred hbcus, we've set a goal to double the number of people that we actually bring in over the course of the next five years. we just committed 25 million dollars to a program we call hbcu market madness. it is a case study competition that provide scholarship aid that we think is highly successful, includes hbcus -- eight hbcus including north carolina, and so we continue to invest in the program and expanded. >> go ahead -- >> thank you, from the citi, our cfo is a proud graduate of howard. he is vice chair there. he's been a wonderful advocate for the work that we are doing similar to the other banks. with the hbcus. we funded them, recruit from them, we are very active around them. there is such a talented people. it is exciting to have them part of the firm. >> i will add a couple things. happy birthday, number two, we expand our efforts to hbcus, they needed more help on the creative development and workplace forces. we give a grant to 11 of them in the last year

had been blessed in many different ways that the jewish people, abraham isaac, jacob, king, david, king, solomon, all the way to little daniel luria today in jerusalem is this one shy, and it's been blessed in a different way. the little land of israel, we have the covenant with god. we have returned home design. his dream is being realized all the time. and as the indigenous people here, the world and especially the air world is going to have to understand that at some point in time in the me today, i live in ships. but i live spiritually. if i may say so in the western part of the city, i wasn't born yet in 1948 during the deck, but i she led the deck, but grounded in these ties are dogs, which i got from my father's house. actually, id processed the, the style when the house was put on sale and they were uprooting all the ties and all what is in the house. i chose to put them and document my history. and my story i would estimate the goal is actually to preserve culture and heritage and precisely palestinian culture and heritage into a slum knowing very well that on a daily level is an attemp

. >> congresswoman, this is david solomon. we recruit from over 100 hbcus. we've set a goal to double the number of people that we bring in over the course of the next five years. we just committed $25 million to a program we call hbcu market madness and it's a training program and competition that provides scholarship aid that we think is highly successful and includes eight hbcus including north carolina and amt state and we continue to invest in that program and expand it. >> and so -- go ahead, jane. >> thanks, brian. from the sxae and he's a proud graduate of howard and he's been a wonderful advocate for the work that we've been doing with other banks from the hbcus and we rekrout there and we're very active around it and they're such talented people and it's exciting to have them part of the firm. >> i would just add a couple of things. one, happy birthday. number two, one of the perceptions we have is we've expanded our efforts with hbcus and we gave a grant to 11 of them in the last year, and a million each so they can expand their capacity to all of

goldman sachs here, a financial, i believe that goldman sachs has really under the leadership of david solomon transitioned itself to one of the most diversified financials on the street. the asset management business, very quietly is beginning to grow we know about the trading revenue that they're driving in the capital markets. there is the financial there is the hypergrowth technology and then an energy name would be lng, shen ear energy natural gas prices up 21% this month alone. looking at rising demand for liquified natural gas. unfortunately the supply of vestals to deliver that lng is diminishing. and where those vestals are going, tyler, it's taking more time to carry. they're going to asia. they're going to summer. they're not going to where they are traditionally were which was europe a much quicker shorter route, better turn around moving to 2022, the demand stays strong, the vessels are challenged i like lng. >> chennier. >> amy your choices for the second half. >> sure a diversified group as well regeneron a leader in molecular medicine cheech at 16 times earnings. they proved th

david solomon, mr. scharf, and mr.man, you all represent our largest banks and i want to put this to you. we've just passed a child credit expanded the child tax credit, 199 trillion covid relieve package. here is what it does, 3,600 for children under six. $3,000 for children under 17 and the parents are getting guaranteed checks every month. but here is the problem. they cannot do this and receive it with direct payments and that's what i am concerned about. to help us to make sure that their child tax credit payments can come by way of direct deposits. it's dangerous out there. when they don't get it directly. these large series of money, every month, and go to a pay day lender or somebody on the check cashing service where they've got to pay money. so we need to find out what we need to do about this. so mr. scarf let me talk to you, wells fargo has the largest number of branches and i also checked with our federal deposit insurance corporation and let me give you the statistics, 13.8% of black households are unban

it underscores how the ceo, david solomon, is seeking to reshape the company geographically terrain andses for one thing. thousands of jobs will be placed in cheaper locales and while the bank has been adding offices and workers for years in a number of strategic locations including in texas, a goldman spokesperson continued -- they will continue to grow their presence in dallas but did not want to comment on the specific expansion plan. we know that goldman is also in line with other hedge funds and financial firms, looking at florida, also known for no income taxes and no corporate taxes to relocate workers as well as. >> we are taking a look at j.p. morgan pushing into paris. brexit has given the banking industry some pause when it comes to london. kathleen: london, which was the focus for all of europe -- su: london, which was the focus for all of europe, is no longer so. it has changed things and london again in the spotlight as they see their office workers return to the financial district. the big story in the paris thinking world is that jamie dimon, the ceo of j.p. morgan chase

vaccinated and it is just time to say, hey, let's just do this, let's get this done, you know, david solomonhe same thing and i think that it is just going to, you know, everybody is going to do that soon. againapprenticeship business >> you got a heck of a tan there, my friend you don't get into the office much. >> i'm getting ready to presend i i'm going to the sun valley conference with andrew. >> andrew is big there bill, thank you. bill cohan >>> that will do it for us on "squawk on the street. "techcheck" starts now >>> my old piggy bank, i found you at last. my own, my very own piggy bank >> shall we dance? >>> good thursday morning and welcome to "techcheck. i'm deirdr

other areas where they do feel very strongly that people need to be together in the same space, david solomon at goldman has been outspoken, jamie diamond, and mr. morgan who runs morgan stanley as well saying a week ago, if you can go out to a restaurant, you can't cite a safety issue for coming -- not coming into work the larger question businesses are dealing with, fascinating from our perspective, as well, is where do you go there's the quote from mr. gorman but the larger question for so many businesses, not just of course in financial services, is what are you going to do are you going to go with the hybrid approach? are you going to say you want your employees in full-time? most of the time, maybe a little bit of flexibility and who -- if you were to track similar businesses, one that went with five days a week and the other with hybrid, be very curious to see who would be more successful over a longer period of time. >> we don't know but a lot of companies whose ceos and people have not been vaccinated >> you mentioned that. >> we have to be careful that the banks in particular -- gar

listen, goldman has been very aggressive trying to get people back in the office, david solomon has beenen on this topic and a number of other senior leaders in the financial services industry, certainly, although there is some difference of opinion there, there's certain firms i know that are not just as aggressive in terms of bringing people back but they certainly have been, i think there is perhaps been some disappointment in terms of some, of how difficult it has been to get people back. >> right right. >> now it may be that we're in the summer and it's like why now? can't we wait until september? and a lot of businesses have done that. >> how about facebook? >> and then there's facebook, guys, which put a memo out to employees called building the future of work together, in which it says it's going to be opening up remote work to more people and as of june 15th, all full-time employees in the company whose job can be done remotely are eligible to request full-time remote work. and in 2022, they say they will start to gradually expand opportunities for people to request full-time re

previously, amazon indicated we want you in pretty much every day meantime, goldman sachs, and its ceo, david solomonbout getting everybody back to work, not far from here on west street, he is dropping a new single, guys, called "learn to love me". >> what? >> is that not true? >> no, no, i have no doubt it's true >> i looked. it is true >> can we just say - >> it's something called genius.com >> have you ever been to one of his concerts spell-binding. >> really? >> i can show pictures, maybe during the break, they'll let me, i have pictures of some really great black and white portraits. >> i think it is interesting and everybody at goldman is supposed be back in the office very soon. >> i think that rbkrishna and ibm sounded pretty rigorous. i shouldn't say rigorous dogmatic but i think it is case by case and i think one of the things, it seems like the west coast, which has a terrible commute, they seem to be very concerned, and by the way it is a little ecological, too, out there. >> don't get in your car. >> i get it. >> it's here to stay there's no doubt, remote is part of most places >> usual

david solomon said it would create extra anxiety and extra uncertainty.ns tax increase treasury saying this was needed to prevent investors from selling before the tax hike takes effect all of the planning people were hoping to do or planning to do is null and void because if it goes through as proposed april 28th. >> if you're a betting man, robert, what do you think? retroactive or not >> reporter: this is a huge question does it pass does it get through congress is the rate too high is the retroactivity clause too much for the moderate democrats? maybe it's a 5% risk maybe it's a 50% risk. now that it's officially on the table, it is a risk for investors. >> what do you think the chaps of an april date versus an end of this year date? >> reporter: yeah, look, there have been moderate democrats that have already said we don't think it should be retroactive, we think it should start january 21st, 2022 so april 28th, the reason they did that date is that's the date biden announced the proposal, therefore he said we are giving you notice as of the date we

finally, david m. solomon, chairman and chief executive officer, goldman sachs. your written statements will be made part of the record. each will have five minutes to summarize your testimony. you should be able to see a timer on your screen that will indicate how much time you have left and a timer will go off at the end of your time. i would ask you to be mindful of the timer and wrap up your testimony if you hear the chime. before we begin with your oral testimonies i would like to swear the witnesses in. i will call each of your names individually to respond. will all of you please raise your right hands? thank you. do you solemnly swear to affirm that the testimony you will give before this committee in the matters now under consideration will be the truth, the whole truth, and nothing but the truth so help you god, mr. diamond? >> yes. >> ms. frazer in. >> yes. >> many goldman? >> yes. >> mr. shruff? >> yes. >> mr. solomon? >> yes. let the record show all of witnesses answered in the affirmative. we'll now begin with their oral testimony. mr. diamond, you'

solomon. since the beginning of the pandemic rushes among the whole countries with 7 games being held in its northern capital and petersburg. we spoke to a former french footballer world and europe champion david treasure k, who assess the role of football during the pandemic and shit. his memories of russia's 2018 woke up to now he could have football football held people emotionally. yes, it was such the empty stadiums before we became an escape for during self isolation, it's the most popular sport in the world. people enjoy watching it with friends and family, or even alone. i think it's helped and i think it was the right decision to keep football going to help people unwind very seem was reviewed up or we remember the 2018 woke up as a real high point. the funds, remember it very well. it was a celebration for everyone, plus the winners. it was a great championship for france. we can see diverse people desire at the show of their country and they couldn't have done it better. the stadiums were top quality as well as the overall organization. it was a fantastic reception and an exceptional world cup. that is how i saw it is a fun. everything went well. so that big game tonight, sir, 10 ca

. >> rahel solomon, thank you, welcome to "squawk on the street," i'm morgan brennan along with scott wapner, because carl and david new york stock exchange, about an hour into the trading session. let's get a quick which she can on the biggest traders in the s&p which is flat right now. so far, it is tech leading the gains in terms of sector, invade ya, xilinx, some of the top gamers, and in terms of the laggards right now, we mentioned it earlier, but materials are back under pressure, so are energy and financial names you can see right there, mosaic, free port-mcmoran, newmont corporation and nucor and ct industries, a deflation of the reflation trade at least for now. >> i got that. stocks are mixed as you know, the s&p narrowly holding on to the green. there it is. nasdaq accelerating a little bit, almost up triple digits, about 2/3 of a percent, and there is the dow down about 150. mark santoli is with us now. she called what happened yesterday, a taper tease, and a dot surprise you heard what teper told me, the stock market being fine for now. do you think that will be the prevailing opinion >> i think in ge