and you can read eastman kodak across the top. those words and that edging would not appear in the print, but it's there to show the whole picture is on the screen. john vachon came to the resettlement administration as a clerk-delivery boy. he had been in graduate school at catholic university, but got kicked out for bad behavior. he was studying to be a poet. but when he started working with the pictures in the files, putting them back in the file cabinets after people had done research, he began to see there was poetry in visual images. took up a camera. some of the photographers would work with him, when they came in from the field and give him a few pointers here or there. but he was largely a self taught photographer. he became quite the lyricist. he made pictures that were just beautiful to look at. he was not very steady. he didn't want to keep track of where he went, what he did. he was known to go off and leave his rented car and take the train back to washington. so, he was quite difficult for roy striker to live with,

exchange commission chairman jay clayton on the report of the administration's investigation of eastman kodaknd what will the sec do with all of those chinese companies listed on major u.s. exchanges. but first, let's take a lookback on the top newsmakers in this week's edition of "the week's talkers." first, let's get your thoughts on this big admission, comey going rogued. >> she got rolled by jim comey, and it was the third time that it happened. remember now it's january 24th with the interview of michael flynn. january 5th with the briefing of president obama, and the third time was in connection with the announcement of the conclusion of the hillary clinton investigation. maria: parents are suing the popular video-sharing act in illinois. those parents allege that tiktok collects information about their children, sends it to servers in china. >> it's designed to vacuum up all the data op your phone, your e-mails, text messages, your photographs, even your browser history and key strokes. it's all sent back to china where it is subject to access by the chinese communist party. maria: whe

. >> kate, thank you i don't know, guy adami, you see eastman kodak on the list. that might spur people to say, hey, what's that kodak up 30% in one day. >> i think that's somewhat of an encouraging development. i think a lot of people use that as something of a self-fulfilling proprophecy. i don't think it's necessarily a bad thing. maybe that's just sort of the maturation process of robinhood. i don't think it has anything to do with the market moves, but i think it's actually an encouraging development for robinhood and people that are part of that community >>> coming up, general motors unveiling its first all-electric cadillac crossover ♪ the covid-19 pandemic is creating food insecurity on a scale not seen in decades. an estimated 54 million americans will struggle with hunger. ♪ with 200 food banks and 60,000 meal programs, feeding america is the largest hunger-relief organization in the country. join morgan stanley in supporting feeding america and your local community food bank. ♪ andputs its customersity a wiin charge?rier well, the good news gets shared.

it is hard to understand why eastman kodak, if that is what they're still -- it is kodak, why this formerc american brand that hadn't been such for years and years was chosen as the one to get it. but again, it is the option activity it is the options that were granted the day before a big release. it is the options that were granted and shielded from the executive chairman and there is a lot of -- of transparency and things don't make sense in terms of the fundamentals and we've seen a lot of companies like this during the run of the market. >> coming up, the cannabis craze and the marijuana industry and a big earnings day till ray reporting moments ago and canopy soaring and we'll give you the lowdown on the state of the cannabis industry and as we head to break, it is not too late to register for the wednesday virtual summit it is all about providing small business owners the resources needed to survive today's crisis and mapping out a path forward to thrive tomorrow go to cnbc.com/events to register "fast money" will be back after this you may be learning about, medicare and supplemen

1939, eastman kodak company gave newly released color film to photographers. american history tv visited the library of congress to meet the curator to learn about the collection of color images. >> in the 1930's, the united states experienced an economic depression and an agricultural disaster. people were not able to make a living on their farms. they begin moving other places looking for new land to live on. people were in dire straits. wasof the worst hit areas agriculture. a program began under one of the advisors to president franklin theevelt to document conditions under which people .ere living this is when we didn't have television. of folksdio but a lot did not have electricity. they sent out photographers to take pictures of what was happening and they put these pictures into newspapers whenever they could and into magazines and trade journals and things like that. it was difficult to get newspapers to accept these photographs because nobody wanted to face up to what was happening, but lori stryker who was an economist from columbia university was r

exchange commission chairman jay clayton on the report of the administration's investigation of eastman kodakth all of those chinese compani

i spoke with sec chairman jay clayton about that and as well as a possible investigation into eastman kodakmmunicated what was a big loan from the u.s. government. >> we are in, obviously, very choppy, very up -- uncertain economic times. companies are going to have information that is material to investors and that is going to move shares prices and other security prices significantly are. you think about drug companies and whether trials are going well for vaccines or therapeutics, you think about business combinations, those things in this choppy period. we have encouraged companies to look at their controls around information. i use the phrase practice good corporate hygiene. this is the, this is really important in times like this because our investors need to know that there's integrity in our marketplace and that businesses are releasing information that is material to investors in a fair and comprehensive way. our law requires it, and companies should be buttoning up and making sure they're doing that. and with respect are to executive compensation, i've commented before that boards

. >>> federal regulators are looking into the government's $765 million loan to eastman kodak. president trump announced the deal last week saying the company would use the money to produce chemical ingredients for medications. the securities and exchange commission opened an investigation after the "wall street journal" reported that kodak's stock price surged before the loan was made public. shares had been trading at a little over $2 apiece and after the president's announcement the price jumped as high as nearly $60 a share. >>> consumers continue to wipe store shelves clean of clorox. the cleaning supplies manufacturer says it can't keep up with demand for its disinfecting wipes which has spiked due to the pandemic. and the material used in many wipes is also used to make masks, gowns and other medical grade items. clorox says the shortage is likely to continue well into next year. >>> virgin atlantic is the latest major company to seek bankruptcy protection. it was done under chapter 15 of the u.s. bankruptcy code. which covers businesses that have partial foreign ownersh

fromther was a retiree eastman kodak. mother-in-law is a retiree from state teachers. want to make sure they represent the organization and beneficiaries. ♪ romaine: let's start off with disney. reporting earnings. kind of a mixed bag. disney plus subscribers. 57.5 lien subscribers. that missed average analyst estimates of $58.4 million. parks business getting completely decimated. down 85% year-over-year. 983 million in revenue. the studio business also down. of course, the studio business includes much of the theatrical releases. we should point out that while advertising did drop, production costs also fell, which helped it post a pretty significant profit. caroline: let's have a look at beyond meat. still seemingly delivering in terms of adjusted ebitda. second quarter net revenue hitting the highest estimate. their outlook for the year remains suspended until further notice. we are currently off by almost 4% but we were down. tenderquarter average subscribers up 19%. romaine: way to go, guys. caroline: adjusted earnings-per-share, $.32. that is below estimates. ov

tweeted on july 28th we signed a letter of interest with eastman kodak recent allegations of wrongdoing raise serious concerns we will not proceed any further unless these allegations are cleared will joining us now to discuss this bill must co-host an investigative journalist and so on and then let's start with the allegations here what's actually being claimed about kodak. so it's pretty simple here that little that you mentioned that the 760000000 alone was announced details that were leaked on july 27th but the f.c.c. isn't getting it number one on what grounds was it leaked in the 1st place that's a very important and that and secondly after that how could that control that a slow zhora of the law which caused the price 25 percent that day and then looking at the fact that stock options were granted to exact. on the day. so were looked and stock options were granted to executives on july 27th those options instead became profitable because of that 25 percent that isn't the corrupt allegation that's been looked at. lot of serious concerns here especially from the democrats about the

my money was a retiree from eastman kodak.-in-law is a retiree from new york state teachers. to make sure people managing their money represent their organizations and their beneficiaries. sonali: what do you do with people in the organization's who do not get it but do not mean anything bad? how do you bring them into the conversation in a meaningful way? curtis: there's a lot of research. it talked -- it starts with communication and conversation. we have to lead by example. our senior leadership team is committed to bringing in diversity and making sure that is an important part of our culture. we will have diverse teams, we can show they have exceptional results or results better than less diverse teams. folks who do not get it will be able to see. i am hopeful that over time and as folks begin to realize, other colleagues in the investment and management industry realize the contributions of people of color, minorities, they will realize how beneficial that can be to their teams. sonali: we have time for one more question

stuart: trading in eastman kodak stock has been halted.ed or they were promised a $765 million loan from the government. that's been put on hold until eastman kodak clears up insider trading allegations. it's been held and it's down 30%. that's where the hold was placed. >>> now, i ask the following question. tiktok. who is best positioned to buy them? who would they do most good for? is it twitter or is it microsoft? both of them we understand are in the bidding for tiktok. let's bring in alex zukin, rbc software research guy who covers this. okay, where's the best fit, alex? is it twitter or is it microsoft? >> it's a great question. we think microsoft would make a really good acquirer for tiktok because we think that it's going to leave it alone and we think it's going to harvest a lot of the things that make it great as a service and can really learn from it and better understand it. you know, we don't cover twitter and so we don't know, you know, what the plans would be there. you know, historically they've had some experimentation wi

eastman kodak -- robinhood platform. tesla -- robinhood platform. that is going to end in tears.erest in that market, it is not rational to me. the third market, there are things to be done. that is everything else. yousef: fascinating conversation former ceo.operman, what a lift up we are seeing in some of these equity markets, especially in europe and the united states as well. overnight record highs, and we look to extend that on the s&p 2/5 of 1%.tly u.s. 10 year yields currently at 67 basis points. pre-much and change. your-dollar 1.1815. this is a deaf euro-dollar -- euro-dollar 1.1815. coming up, the year of the day trader. we take a look at the surge in retail investment around the world next. this is bloomberg. ♪ is 2020 the year of the day trader? bloomberg estimates retail investors are the second-biggest segment in the trading market with a surge in trading volume year on year. let's be realistic about this. how substantial is the surge of globally? >> it certainly extends beyond the united states, and if you want an example are of this, look no further than china. 2.

eastman kodak -- robinhood platform. tesla -- robinhood platform. that is going to end in tears.ot rational to me and i don't spend time on. the third market, there are things to be done, and that everything else. we hope leon cooperman will be safe, given laura coming down on the tropics now. what willconundrum of happen with small-cap, mid-cap -- can they switch over from the tech dominance that we have seen? has really been pummeling in the last couple of days as tech surges -- that has really been humbling in the last couple of days as tech surges. david up, must watch -- sowerby. this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.co

eastman kodak shares went down yesterday.sec investigates a high volu s volume loan that was made. >>> coming up on "morning joe," confusion and frustration over the president's executive order on unemployment benefits. governors and state officials from both parties are sounding off. plus eugene robinson and what he calls the, quote, wreckage joe biden may acquire in november. and a look at next week's democratic convention. "morning joe" is moments away. . "morning joe" is moments away. n with a boost of b vitamins and energy from green tea. new dunkin' refreshers. order ahead via the dunkin' app for a contactless way to order and pay. america runs on dunkin'. ( ♪ ) only tylenol® rapid release gels have laser drilled holes. they release medicine fast, for fast pain relief. tylenol®. >>> welcome back, everybody. joining us from washington with a look at axios a.m. alexi mccam mond mond. give us axios' 1 big thing. >> today is a look inside president trump's debate prep and campaign. two weeks ago, president trump met in a co

. >>> we're back with breaking news >> the sec is investing eastman kodak's announcements of a $765 millionhe government to make drugs at its u.s. fak ris nap was last week. it was a huge spike in the stock. it produced basically a wind fall for company executives who own stock options grants here is the interesting twist to that those grants were issued july 27th, the day before the loan was actually made public the sec is looking into this they say it's at an early stage but the areas being probed how disclosure of the loan which emerged on july 27th, one day before the announcement, caused stock prices to surge considerably, and basically they want to know what executives knew when, why was there possibly a leak. that's what the sec is looking into, scott. i'll send it back to you >> i appreciate that update. jon adjerion, we spoke about this at the time, and certainly the windfall you saw ahead of the trading volumes. what can we tell our viewers who may have missed the conversation that day >> scott, just to recap briefly, it was averaging i think, 6,000, 7,000 shares a day it went to

you look at what is going on the robinhood platform, eastman kodak, robinhood platform, tesla, robinhoodorm. that will end in tears. i have no interest in that market. the third market is everything else. i give a shout out to my former partner sam montini who did great work on something like mr. cooper. i own it, i like it, i would add to it right now. he is smarter than the average guy. the economy reported earnings in the second quarter, $500 million in cash earnings, 50% of the market value of the company in one quarter. everyone was talking about the stock being worth 12 or 13. we: just because of time, were talking about the future of global wall street. can you own the banks, and if mr. jarman is running sterling -- if mr. dimon is running sterling performers, can you acquire shares in jp morgan? leon: i could. i own citibank and i'm concerned about financial conditions so i'm not adding to my banks. i think they are cheap group. do not worry about goldman. goldman will be fine. they will go with the flow and figure out what they have to do. lisa: perhaps don't worry about goldman

cheryl: i'm glad david brought that up, headlines like eastman kodak, grants of options, protected from stock performance. the average person sees that on the face of "the wall street journal." it makes them nervous. feels there is not a place for me in this market. i'm still getting pushed out by folks on the inside. >> i strongly advise investors not to chase the market and not buy single name stocks. i'm very much in favor of more passive invests. you may not see the upside, but based on volatile markets they are. this is manipulated market. the fed is really driving equity valuations and keeping rates low. so retail investors be careful about chasing markets. what we're seeing is citadel securities put this out, 25% of the stock market is driven by retail investors right now. don't chase the market. i like intelligent investing. take your risk appetite temperature and invest you, robots go to it and diversify you, rather single name stock picking. it is very hard to beat these markets. be very careful. cheryl: i agree with you, kathryn. i'm that type of investor. i'm etf, index gal.

exchange commission chairman jay clayton on the report of the administration's investigation of eastman kodakwith all of those chinese companies listed on major u.s.

. >>> federal regulators are looking into the government's $765 million loan to eastman kodak. trump announced the deal last week saying the company would use the money to produce chemical ingredients for medications. the securities and exchange commission opened an investigation after the "wall street journal" reported that kodak's stock price surged before the loan was made public. >>> a rollback at southwest. the budget airline will no longer disinfect seat belts and armrests between flights. its new cleaning protocol will involve deep cleaning planes every night but between flights it will only clean bathrooms and tray tables. southwest cited a pickup in its travel schedule for the reduction in its cleaning service. len? >> bring the wipes with you on the flights. and diane i hear the mac and cheese has made its way to the breakfast table. tell us more about this. >> reporter: yes. apparently so. so kraft heinz is giving mac and cheese fans a chance to win alimented edition breakfast box. each contains a place mat to color on and a box of mac and cheese and a mat with pairi

> also this morning, federal regulators are looking into the government's $765 million loan to eastman kodakesident trump announced the deal last week saying the company would use the money to produce chemical ingredients for medications. the securities and exchange commission opened an investigation after the "wall street journal" reported that kodak cease stock price surged before the loan was made public. shares had been trading a little over $2 apiece after the president's announcement the price jumped to $53 a share. >>> new this morning, supervisors in san mateo county have approved $5 million in federal funds to provide support to renters and property owners affected by the pandemic. this will include $2 million in rental assistance. small residential property owners will be supported with up to $2 million and $1 million will be used for incentives for landlords and tenants to compromise on back rent and legal services and educational programs. >>> to campaign 2020 now. joe biden being urged to pick former first lady michelle obama as the rug . r su y ii successful in november. in the

exchange commission chairman jay clayton on the report of the administration's investigation of eastman kodakes listed on major u.s.

a lot of eyes on eastman kodak and how this was handled.ven mnuchin saying that new federal unemployment benefits will be rolled out by states within the next two weeks. the extension of additional benefits follows president trump's executive orders on covid aid. joining me now, texas congressman, house oversight budget and veteran affairs committee member, chip roy. good to see you this morning. do you think the democrats will move to file suit to stop the distribution of these unemployment benefits? that seems to be legally a sticking point in terms of the president's ability to reallocate money to pay these benefits. but do you think that the democrats get in the way of that? >> well, good morning, dagen. i think that the democrats are now in a pretty sticky political spot. while they're trying to raise these -- what they call legal concerns about what the president's done with the executive orders. i was a first assistant attorney general of texas when we challenged president obama's daca orders. as a member of congress, i don't like ha

getting news on eastman kodak shares finally resuming trading up a little north of 69%.ked when the sec started sniffing around as to the timing of a government investment in the company to the tune of about $175 million for a lot of its generic drugs that it was working on, at least the elements in those drugs. the company far afield from what it used to be in the film business. you know, morphing into something that got instant attraction and notice by the administration, certainly by federal officials. the stock coming back here. the investigation though continues. we'll have more after this. ♪ (calm inspirational music) - i can't stop worrying. - why can't i sleep at night? - how do i deal with all this stress? - when did the world get so scary? - hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. and yet, there is one person who said, "i can give you peace that can never be shaken even in the worst of your circumstances." jesus is the way the truth and the only giver of eternal life and he is inviting you to come

a deal navarro brokered involving eastman kodak is now on hold over financial issues, but earlier inn awarding a contract worth hundreds of millions of dollars to a little-known virginia company promising to revamp the way medicines are made and distributed. so what is this? >> this is our -- >> reporter: the grand plan to streamline america's pharmaceutical industry was launched at virginia commonwealth university's college of engineering in richmond. >> so these are some of -- >> reporter: our tour begins with dr. frank gupton. >> it goes into the tubes that are inside these heaters -- >> reporter: he oversees this lab where chemists are working on new ways to manufacture medications. and so this is what is going to innovate -- this is part of it. >> reporter: flo is a company trying to bring back the pharmaceutical supply chain to the u.s. >> they went to india and china where labor costs were lower -- >> reporter: two years ago his business partner, dr. eric edwards, approached dr. gupton with a goal -- to make affordable generic drugs here at home. >> i was already witnessing ma

securities and exchange commission reportedly looking into eastman kodak the company announced 765-million-dollarll street journal" peter navarro came on program that day to explain partnership, coulded angry shares surged to highest levels. >> years on the news, before earlier before falling earlier this week, executives giving stock option grants for the day, before loan announcement sources tell "the wall street journal" sec looking into how kodak controlled disclosure of that loan joining me on telephone u.s. securities skrts chairman jay clayton mr. chairman great to have you this morning i know you cannot discuss individual cases is there anything that you can tell us about the he pattern of trading in kodak that day raised alarm bells? >> maria, thank you, and congratulations on 25 years. i just want to say what great work you've done particularly in informing main street investors how markets work. thank you for that. >> eye really appreciate that thank you so much, mr. chairman. >> turning to your question, we are -- we are in obviously, very choppy uncertain economic times, generally fo

but the surprising thing to some extent, at the same time eastman kodak five months later came out of industrial average. they were teetering on bankruptcy and is given a humongous life line, i see this situation with tiktok the same way. i think there are geopolitical concerns that are happening with securities that are outside the purview of investors that are doing normalized valuations, right? i think the more that this happens, the more troubling it is to me because i don't know how to discount when you have a situation where the president can weigh in and a company goes up for sale regardless of what the price ends up happening. i can say any stock in the s&p 500 that could happen to and that's generally not a situation you have to deal with in the u.s. stock market. so hopefully that calms down a little bit, but i would say that we're kind of in unchartered territories to some extent it's not surprising me that large technology conditions have played the best but i think investors should take an extra dose of caution in looking at this market overall and over an extended period

eastman kodak, 48 times earnings ibm, 37 times earnings polaroid, 90 times earnings.imes, sear roebuck, 31 xerox 41 okay we don't have -- back then by the way, in 1972, the government was 6.5% today ten year government 70 basis points while expensive, not outlandishly expensive and pick your poison. i have a few there and what we have to understand in the nifty 50 of today, a certain failure rate as there was. polaroid no longer with us avon didn't turn out to be what people thought it was. ibm didn't turn out what we thought. sears gone, kmart gone xerox taken over by the japanese same thing now identify nifty 50 of today and a certain percentage will not perform. they'll be disappointing you take the loss against the ones that work and expect return from that portfolio which wasn't particularly impressive. the robin hood market, i touched on it before i won't repeat it, a nuts market you know apparently from my read 13 million 30-year-olds that are trading the market and have to say when american airlines enterprise is higher today than pre-covid virus and i see wha

let's deal with eastman kodak. they have had problems recently.ee they bounced to $11 a share this morning. what is the white house saying about their investigation of kodak, lauren? lauren: yesterday the press secretary kayleigh mcenany said the government will not proceed with that loan for kodak to make drug ingredients under the defense production act unless these allegations of insider trading are cleared. so yesterday, we saw shares lost more than a quarter of their value. they are currently trading up at around 11 but yeah, they hit $60 on word of that $765 million loan. now the s.e.c. is investigating how kodak controlled the disclosure of that loan, leaking information to the press, as well as stock options that were granted to their big executives, all a day before the deal was formally announced. stuart: got to hear that. thank you. two names on your screen. mgm and barry diller's iac. susan, why and i think this is the story, why is barry diller putting a billion dollars into a gaming company which runs the strip in vegas? susan: onlin

this is american history tv, on c-span3, where each weekend, we explore the nation's past. 1939, eastman kodak company gave newly released color film to photographers. american history tv visited the library of congress to meet the curator to learn about the collection of color images. >> in the 1930's, the united states experienced an economic depression and an agricultural disaster. people were not able to me

. >> in 1939, eastman kodak company gave newly released kodachrome color film to photographers working for the u.s. government. american history tv visited the library of congress and beverly brannan to learn about the collection of color images documenting agricultural life and war production during the great depression and world war ii. beverly: in the 1930's, the united states experienced an economic depression and an agricultural disaster.