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on this you know, to solve the problem and to make these investments happen as they need to >> hi, jb deidre nice to have you newerly public rv players like rivian are planning to bring their battery production in house along with ramping up overall manufacturing. so, i wonder, do you think they'll be able to pull it off and what are some of the challenges they face, whether that be in terms of supply or technical expertise. >> well, building batteries is tricky it takes quite a lot of expertise and it takes a lot of very high-quality precision manufacturing. i think these companies will be able to pull it off over time but it will take a lot of investment and focus on this for several years. even with internalizing battery cell assembly, however, we still need to make sure that the entire supply chain that feeds those battery assembly plants is also ready to go and scale that is really our focus here is making sure that we're ready with all the components to feed people with, you know, battery assembly facilities wherever they may be. >> jb, i know you left tesla a couple years ago a

. >> reporter: those big four tyson, cargill, jbs, and national beef, who together control roughly 85% of all beef production in america and saw their profits triple during the pandemic >> why isn't the market correcting itself in this case? >> so when there's no competition in a market, you're not going to get some of those dynamics that allow prices to ease. >> reporter: and consumers have little choice in the matter >> when we walk into the grocery store, you see dozens of different brand names for meat but the reality is, about four companies own all of those different brands and that doesn't give the consumer the ability to vote with their dollar >> reporter: of course, the pandemic raised prices in many industries. >> but in the meat industry, those effects were exacerbated by the lack of competition up and down the supply chain. the takeaway message should be clear. a concentrated food supply chain is a vulnerable food supply chain. >> reporter: executives say the industry, hit hard by covid and inflation, couldn't keep up with americans consuming more meat during the pandemic.

meat-processing industry, where four big companies do dominate the markets >> reporter: tyson, cargill, jbsearly all beef production in america and saw profits tripled during the pandemic >> so, when there's no competition in a market, you're not going to get some of the dynamics that allow prices to ease >> reporter: and consumers have little choice in the matter. >> when we walk in to the grocery store, you see dozens of different brand names for meat but the reality is about four companies own all of those different brands and that doesn't give the consumer the ability to vote with their dollar. >> reporter: of course, the pandemic raised prices in many industries >> but in the meat industry, those effects were exacerbated by the lack of competition up and down the supply chain. a concentrated food supply chain is a vulnerable food supply chain. >> reporter: executives say the industry hit hard by covid and inflation, couldn't keep up with americans consuming more meat during the pandemic. >> it's not the result of a consolidating industry, lack of competition or the cash markets. the co

yes,jb yes, jb hansen's round, he did it in the gathering and just got his round finished in time to been and how difficult it has been to play their approach shots. but hansen looks the promising figure we saw from much of last season, and he set an excellent pace. last season, and he set an excellent ace. ., last season, and he set an excellent ace, ., ., , last season, and he set an excellent .ace, ., :, , :, pace. quite a bit further down the leaderboard. _ pace. quite a bit further down the leaderboard, but _ pace. quite a bit further down the leaderboard, but rory _ pace. quite a bit further down the leaderboard, but rory mcilroy i pace. quite a bit further down thej leaderboard, but rory mcilroy has won it twice. he says he feels very much at home. how do you see his chances? ~ :, �* ., :, chances? well, he would've wanted to net off to a chances? well, he would've wanted to get off to a better— chances? well, he would've wanted to get off to a better start. _ chances? well, he would've wanted to get off to a better start. it _ chances? well, he would've wanted to get off to a

they've met 145 times dating back to 1950, but >> few are as tap into this rivalry has jb long.is the radio voice of the rams for espn, 7.10, los angeles and he grew up in the bay area. a niners fan, our very own kate rooney chatted with jb about what he expects to see from 2 teams. he so well. >> the current win streak in the series kind of a senator and the forty-niners county this past season tribute that to why the niners been able to get over on the rams so much in the recent history of the series. >> okay. i think they're really good team. a really good roster with excellent coaches and they know the rams forward and backward. not just because they play twice here in the same division, but because their coaches go all the way back to kind of their beginnings and come off the same coaching tree. so it's it's a bit like playing yourself in the mirror. i think when sean mcvay and the rams and kyle shanahan and the niners get together and to their credit. more times than not, san francisco's been the more committed to more physical. the more determined team they've been able t

jbs supplies about 25% of the beef, about 20% of pork, and poultry to the united states. concentrated control heightens the potential for severe disruption to our food supply, and it is vital that we mitigate against future risks. i actually think it's dangerous in and of itself to have four companies control 80% of the beef processing # # # but what you is director 'ingles do you agree such concentration of our food supply creates additional risk. >> the concentration of course gives a concentrated target. so i think our first endeavor should be to take the systems that we have to make them more resilient and robust. does an adversary have to beat one of us to beat all of us, and make sure we're responding so we can quickly restore those systems to their proper function. >> great. and i thank you for that. and you just actually answered my next question briefly which would have been what is the administration doing to put protections in place so we don't have a future threat to especially our food supply chains. the administration is also considering shutting down line 5

jbs supplies about 25% of the beef, about 20% of pork and poultry to the united states . concentrated control heightens the potential for severe disruption to our food supply. and it is vital that we mitigate against future risks. i actually think it's dangerous in and of itself to have four companies control 80% of the beef processing industry. but what i want to ask you is do you agree that such concentration of her food supply creates an additional risk to our nation from cyber attacks? >> the concentration, of course gives a concentrated target to those who would hold that at risk. that's not an unfair concentration. if we make it sufficiently resilient and robust that it's either impervious or it's resilient to those attacks. and so i think our first endeavor should be to take the systems that we have to make them more resilient and robust. that's a hardware problem, a software problem, people issue, a doctrinal issue. does an adversary have to beat all of us to be one of us make sure that we're then proactively defending those supply chains and that we're responding

quick programming break now and we will be back shortly for an interview featuring illinois governor jbpritzker. >> welcome back to the 50 americas governor summit. i am a reporter at politico and an author of the illinois playbook based in chicago joined by illinois governor jb pritzker running for a second term and about to give his fourth state of the state address which we just found out will be in person in the capital. it seems almost like normal times. thank you, governor, for joining us on political life. we have much to cover including the latest in managing the pandemic, illinois making some history fighting climate change and how voting rights have expanded in illinois. let's kick things off talking about covid. even though illinois is averaging about 132 covid related deaths per day cases and hospitalizations are actually decreasing. so it looks like omicron is trending down. i know you have a direct line to dr. fauci. can you tell us a little bit about what you have learned from managing omicron that will help you understand it the next variant and how to manage that? gover

jbs supplies about 25% of pork and poultry to the united states. contrary control heightens the potential for severe disruptions to our food supply and it is vital that we mitigate against future risks. i actually think it is dangerous in and of itself to have four companies controlling 80% of the beef processing industry. but what i want to ask you is, director inglis, do you agree that such concentration of our food supply creates an additional risk for cyberattack? >> the concentration, of course, he is a concentrated target for risk. that is not an unfair concentration if we make it sufficiently resilient and robust that it is nearly impervious or resilient to those attacks. i think our first endeavor is to take the systems that we have and make them more resilient and robust. it is a hardware problem, a software problem, a people issue, a doctrine issue. it doesn't necessarily have to beat all of us to get one of us. make sure we are pro active defenders of the supply chains and use all the instruments and government instruments in a given inc

we discussed the market selloff, the bond market bounce, with our guest from jb, julius baer. dani: biden clarified his remarks yesterday, saying putin would pay a heavy price if russian groups crossed -- troops crossed the ukrainian border. a lot to look out for. this is bloomberg. ♪ >> it is a very rare path. we have been checking off this list for years. when i sat down a year ago, we could see the accelerating phase that had taken place last year with the nasdaq up over 100 from the low but also up 58% from december of 2019 so even granted that covid decline, it was a helluva year, a year of acceleration. the nasdaq has started to weaken relative to the -- the russell has started to weaken much more so even than the nasdaq. manus: a confluence of bearish factors. jeremy grantham saying u.s. stocks are in a super bubble. we will see the repercussions this year. the checklist for a super bubble is running through its phases. it is now complete. 10% drawdown in the nasdaq so far. is there a belief? these are rare patterns that he is talking about. do you think we are at the s

targeting in the name of reducing inflation, big meat, the administration says four companies tyson and jbsy have wracked up the record profits according to biden. the president met with independent meat processors along with those cabinet members he could remember. >> i'm here with the secretary of agriculture tom vilsack the governor of the state of iowa and attorney general -- these middlemen that they buy from, farmers and ranchers and sell the processors and excuse me show the processed product to grocery stores, that is the way it works. >> laura: his brain, his brain is ground beef at the point. it is scary. >> i have to say, he has no grasp of this at all. according to the producer price index, laura we have sent the highest index inn a decade. that is across the economy. it is not just meat producers but biden will throw $1 billion of covid relief at bolstering independent meat processors. and then slap them with regulation as if you can antitrust your way out of inflation. that won't work. it is science of denial. we will see what happens. >> laura: raymond, i have got to say you

i now call doctor jb. >> mr. may i start by wishing you and all members a very happy new year. thanks to her vaccination program and people coming up and downin the country were managed to ensure families could still celebrate christmas there for me and people now boosted, anybody has not yet should come forward and get boosted. mr. speaker this morning and others in addition to my duties in this house i will have a covid meeting later today. >> thank you esther speaker. the nationalist coalition on funded. [background noises] the does the prime minister agree with me the great british seat with this opposition's answers if our problem is? which is that the doors of the treasury demanding the taxpayer of their own ineptitude and incompetence. [cheering] >> mr. speaker is not just labor it's recording or and london, or in wales, every government in history since the secondor world war this unemployment higher than when they came in. only conservatives can be trusted and that peoples are priorities that is why mr.

number one, certainly we all have to work to w do a better jb weather in congress, be responsive to people, listen to them, but as a whole bunch of other things and the other thing we stopped educating the american people about what government is, what representative democracy is in politics. all of a sudden they have this level of expectation that cannot possibly be met. bringing diverse groups of hipeople together and stopping them from killing each other as a starting point is an enormous challenge.ac bringing them together and getting them to figure out how to live together and decide i give up this and you give up that it's difficult. that's what democracy is. we don't teach about that. e what we teach people increasingly about now is how to be activists, how to recognize what you don't have and to fight for it. that's great but at the end of the day that is a fundamentally selfish way of looking at the world. we don't educate you on that but what does the person across the street from you want and if you don't work with them a little bit they will be doing the same thing you're going

. >> tim, i know you have also invested on some of these china-focused names jb jumped 10.3%. is this a sign things are turning or do you just not have that visibility yesterday? >> well, jd was relative last year, not seeming to be in the crosshairs of the government on some level, not that national company that really is at risk from the regulator i think if you look at, first of all, the china story overall, i actually think we are starting to see a thaw on supply chain dynamics i know there is a crackdown. you will get cpi numbers out of china tonight. cpi is expected to come down almost two percentage points i think the worst of the covid disruption, even in the face of this one step backwards is to the market's advantage ultimately, for investors, ken pointed out, ali baba, i think they report on the 29th or 30th of january, absurdly cheap relative to itself obviously relative to other globl meg go cap companies 13 times this year 12 times next year you had slowing gmp growth there is a story of a major investment period i think they will slowdown this year. the company

but our attorney general patrick morrissey, our state auditor jb makowski.ur secretary of state matt warner, our commissioner of agriculture, kent in our state treasurer riley more. give them a big round of applause. [applause] so many different people here. we have our senate president right behind me, craig. our speaker of the house, roger henshaw. i have not seen joe, but i see shelley up here. shelley, thank you so much for coming. in every way. i have not seen him, but congressman and congresswoman, i think them from the bottom of my heart. absolutely a big round of applause for all of them. [applause] we've got college presidents here in our wv you president gordon and new president of marshall university, brad smith. i don't know where they are, but give them a round of applause. [applause] last but not least, this gentleman right here. he surely deserves a ton of credit. from almost day one, we wanted to get this accomplished. we now in west virginia have a newly appointed intermediate court of appeals. and these people are thomas carper, dan greer,

the prophets robert jones junior jb putnam's son, penguin random house. helluva book by jason.tion goes to helluva book. jason mott. >> jason mott. helluva a book. dutton books. and imprint of penguin. jason mott's helluva book weeds to get three narrative strands. unnamed author a boy named so it. a figure known as the kid into a masterful novel. structurally and conceptually daring examination of art, team, family and being black in america. somehow manages the impossible trick of being playful, insightful and deeply moving. all at the same time. highly original inspired work that breaks new ground. ♪♪ gmac i'm getting overwhelmed right now. i did write this just in case i got overwhelmed which is completely happening right now. i will just read in case i can't stumble through this. i would like to begin by apologizing due to time constraints that i cannot think personally tonight. tonight or like to thank my agent who exactly 10 years ago this month took me out of a slush pile and since that day has been constant and awe-inspiring in her love, support and friendship. i would

it's interesting to note that jonathan finer has no relevantes experience for the jb he currently holds. at one point he was a washington post reporter. that's reassuring. mostas recentlypo he was cashing in at a private equity firm paying approximately half the federal tax rate. you are good for h himal . but one thing jonathan finer has learned alongas the way is that ukrainian borders matter if you cross without position permission, you will be droned into the next life. kamala harris strongly agrees with that . here's harris. threatening would bebe russian immigrants. the bottom lineimmi is that we e been clear and consistent for quite some time that we respecti the territorial integrity and sovereigntyto of ukraine and we expect that russia would do the same d and any aggressivn actions taken by vladimir putin will be met with severeve consequences, severe consequences. the understatement is chilly. that woman is bloodthirsty as our borders are trying to cross the border. and we'll take out your entire caravanned claim asylum. what's asylum? ra don't think so. one toe over the line

the biden administration is harmingvi our economy harming jb creation harming national security and nowgoing to go forward and harm the environment with things like this that are going on including this whole notion that we simply cannotki have any fossil fuel infrastructure here in america? it all has to go away and everything is going to be just fine. the people in this country are waking up. it does not work and it's going to continue to cause problems until we understand the trade-offs to this stuff. we cannot prosperity and a clean environment. they are not a chilly exclusive and in fact they work together and tell this committee, this congress the majority in this congress andnd this president to get that out this country is going to continue with far less energy and it will deplete our standard of living. i yield back and i thank you for your time mr. chairman and mr. stunz thank you for your time really appreciate it. >> thank you representativet? tiffany. i'm sure the president is also appreciative your strong support and now i'd like to call upon -- i don't believe that mr. gr

up the index united up more than 1% other major transport names, night shift, the largest trucker, jbh, both in the red. the largest container ship is down despite raising the profit guidance by $1 million recently. pressure hitting the stocks indirectly higher transport and interest rates impacting plans to hold more inventory, especially lower margin inventory like clothes and toys rail stocks are down near term pipeline is looking good with 100 container ships or so kis consistently outside the port in long beach, but the volume is lowered. there is pricing power, and there's a lot of questions about the ability to withstand a lack of restocking which has been the bread andbutter for ecommerce throughout the pandemic. >> thank you. >>> the big earnings week continues after the bell microsoft is the big mega-cap name that is set to deliver results. when the bell closes, it is down about 3% right now ahead of that, down 14% year-to-date. david, it is going to be a key one to watch, especially after the shellacking we saw netflix take last week i realize different businesses, differen

here in northwest arkansas we have major fortune 500s like walmart, tyson and jb hunt and a really strong attract those workers to come here, build companies based around blockchain, support the companies that we have here right now. so that's why we're doing it. stuart: so the worker has to be based in northwest arkansas. you can do remote work, by all means, but you've got to live there. >> that's right. we need you to sign a lease to get the incentive, and we'll give it to you in bitcoin and stay here for one year. stuart: sounds like you've got a lot of interest. very interesting program. nelson, thank you very much for being with us. come back again soon, and we'll see how you do with the program. thank you, sir. >> thank you very much. stuart: got it. pfizer conducting lab studies on its new covid antiviral pill. ashley, any news on whether it works against omicron? is. ashley: yes. pfizer says in three separate lab studies the pax lo vid pill retained its effectiveness by preventing, essentially, the virus from replicating. the pills are taken twice a day for five days, and trials

biden is spending $1 billion to help the independent meat and poultry producers to compete with tyson, jbmall farmers out of the north american meat institute which represents the largest meat producers in the industry says when it comes to inflation the buck does not stop with them. the spokesperson telling foxbusiness there have been four firms operating in the fed cattle market for 30 years. why inflation now? labor remains the biggest challenge, but members of all sizes cannot operate at capacity because we cannot employ a long-term stable workforce and money is not the problem in the matter rescue plan, they did already they set aside $500 million in the meat and poultry industry for the issues and the white house thinks they need $1 billion more. stuart: they always need more. thank you very much. i will introduce larry kudlow to you and i hope to see him shaking his head in disbelief of how a president blaming me price inflation on meat companies. have at it, shake your head. [laughter] >> this biden crowd hates business, their answer to every problem is blame business. let me make

you might have heard of, sell eggs, plant based eggs in the supermarket now, called eat just, with jbseed regulatory approval and a lot of money in the investment stage. you have to figure out how to make this stuff taste good so people will buy it. stuart: that is competition for beyond meat. it is down 6.7% as we speak. lauren: cultivated meat. stuart: the sacramento district attorney said it is we held rogue prosecutors for putting criminals back on the street. roll tape. >> the fact we have a tsunami of poor public policies and rogue prosecutors not holding people accountable to the full extent of the loud. stuart: how about that, that is the sarc men toe, california, district attorney. more coming up. president biden is calling for more police funding as crime spirals out of control in the cities. we have a report on that one too, right after this. ♪. i always had a connection to my grandfather... i always wanted to learn more about him. i discovered some very interesting documents on ancestry. this is the uh registration card for the draft for world war two. and this is his signa

congressman, a democrat from illinois, has sent a series of letters to tyson foods, jbs foods, nationalderal and state investigations related to the price hikes. the congressman, a leading democrat on the house oversight and reform committee, says he's concerned that the meat processing conglomerates may have engaged in predatory business practices at the expense of consumers during the pandemic. the four companies, by the way, have until february 8th to send the requested information to the committee. [laughter] stuart: okay. i'm going to move on before i make a nasty comment. ashley: yes. [laughter] stuart: check those markets, please. not much of a bounce now for the dow. it had been up 500, now it's up 100. nasdaq had been up 350, now it's up 190, so you've got a bit of a pullback, but the bounce is still in place. wait until we see what the fed says this afternoon. >>> still aid -- ahead, a black lives matter group says cops who are shot should not be treated as heroes. civil rights leader leo terrell coming up, i'll ask him what he makes of it. >>> we talked about crime spiraling

private sector's, as evidenced by the cyber attacks this year including on the colonial pipeline and jbs foods we cannot leave ourselves vulnerable enough to allow bad actors to control essential infrastructure such as energy supply, water management, supply chains inno public transit. mr. dorsey, , as you noted in yr testimony your office has identified information security as a top management challenge in the department of transportation. but yet the dot has not resolved dozens of open recommendations by your office in the last year. in the report done by clifton larson released october this year, they conclude that the dot must develop and communicate and organizationwide supply chain risk management strategy and implementation plan to guide and govern supply chain risks. what do you see as barriers to this recommendation being implemented? given the supply chain issues were currently experiencing how urgently can the department of transportation act on this recommendation to avoid future disruptions? [inaudible] >> i think you need to get unmuted. >> sorry. thank you for the question

purnlgd him out of the -- purged him out of the system and they are going to try to purge him out of his jb. that's happening -- job. that's happening. we talk about the ability to dismiss voting boards because they don't like what they did, we're going to see more and more voting boards, voting commissioners, voting sertification -- certification officials gone. the other problem here, mr. president, that really worries about our democracy is that the former president eaf foforts to undermine confidence in our elections have already convinced two-thirds of one of our great political parties that elections were illegitimate and rigged. two-thirds of one of our great political parties believes that. if these laws happening across the country fanned we give them a pass today, it's katy bar the door over the next six months. then you're going to disillusion and anger and loss of trust among two-thirds of the democratic party and independents and you're going to have widespread distrust of elections as the way to solve problems in the country and if you can't trust elections, what do you do? i