that is macy's, jcpenney's, even kohl's. let's have our viewers join in on this conversation. we will start with dave calling from new york. good morning. caller: good morning. i want to try to contract some of the things you are saying quick. one of the things with the bailouts is the federal reserve is printing money. it is going to buy corporate debt. corporate debt has been issued consistently over the last five years. they take that money and buy back their own stock. then the corporate executives cash out their stock options. with this bailout, you are bailing out their luxury homes on the ocean, their lamborghini, there for ari. their fofeig -- rarri. that is a big thing. the bondholders will lose all their money. you are not bailing out the corporations, the company, you are bailing out the people that lend that company might. host: go ahead and respond. guest: i get the outrage. i'm no fan of stock buybacks. this situation is a little bit different from what we saw in 2008 and 2009. leading up to that, you had investment bankers on wall street take absolutely insane r

i don't know if jcpenney's will ever open again other than for a liquidation sale.ll take share in this market. they obviously have challenges to. in these warehouses, people are working and they need people to work. a lot of these warehouses are automated to some degree. it would not surprise me if they are taking the temperature of employees as they walk into facilities now. i think amazon comes out of this booming. that is what the stock market is telling us. amazon stock is barely even down for the year. these companies we just discussed, where do you see the biggest opportunity? >> we are software investors. we tend to only focus on that. i have friends who know a lot about cruise lines and transportation companies. i am asking them if i should personally be buying new stock. they said i would not touch them right now. we don't know how long this will last. these companies have a lot of debt. right now we like enterprise software companies. area we like is security software. push -- during this time, russian hackers can still do business. companies like crowd s

liz: by the way bill ackman was wrong way on valiant, herbalife, other companies, jcpenney. he is both short and long. what was reaction to that story? >> look, we, ohio citizens have to focus on saving their lives and what they have to focus on is separation and keeping apart from other ohio citizens that is the message every single day. liz: they're seeing their 401(k)s get torched. that is my point. and stock holdings and bank accounts -- >> like i fully understand your point, i'm telling you i'm dealing with a crisis with people trying to save their lives. this is all fast nating. it is all interesting. i understand your point but we're focused in a life and death battle here. liz: what are you guys doing? we're seeing new jersey. we're seeing they're doing curfews. see nag the bay area, california, there is a lockdown there, what are you guys doing toe stop -- to stop the outbreak there? >> we closed schools. we did that sometime ago. we shut down restaurants. we shut down bars. we've gone down to 50 person, can only 50 people together at a time. we've done everything w

. >> julia, today jcpenney, ann taylor, joined companies such as macy's and the gap, kohl's, furloughingorkers. is it a potentially positive sign that these are furloughs and not layoffs? >> we've seen 500,000 retail workers full l furloughed and n fired, which means they will continue to get health care benefits, which is critically important at this point. the hope is when we get to the other side of this, these workers are in place and that should make the recovery quicker. it's just the part of getting to the other side of this, jake, as you were just hearing now, which is the big unknown. >> and julia, i had never even heard of zoom before two or three weeks ago, but now it's huge. it's a videoconferencing service. and zoom is now responding to the new york state attorney general who flagged network flaws that might allow intruders to hijack a user's webcam. "the new york times" reporting that hacker interrupted a webinar on anti-semitism with white supremacist messages. what does zoom have to say about this? >> they say they take privacy very seriously, they're willing to give the

. >> back to susan, i need that news on jcpenney, coca-cola and at&t.t he had got. >> let's start with retailers. jcpenney is pulling off and pulling back their 2020 outlook on profit and sales. it's pretty much the trend across most companies. this joins a long growing list of retailers doing this so jcpenney at kohl's, victoria's secret pulling their forecast and guidance for 2020 until they get a better grip as how the first quarter and second quarter look as the coronavirus spread. coca-cola announcing the same thing, they're withdrawing their guidance for this full year. they will give us an update after they post their q1 results but they weren't looking for a lot of growth, maybe 5% in sales in the first month of this year. we will see what they do and don't forget warren buffett is a big shareholder. here's something you might find interesting. at&t had this accelerated repurchase plan they will buy back 4 billion in stock. now they will cancel that because at&t says they need the money in case pending on how the coronavirus epidemic impacts the

for former retail giants like macy's and jcpenneys who were facing declining sales, this week looks dire saying, covid-19 is taking a heavy toll. the department store putting a freeze on hiring and spending. small businesses face their own unique set of challenges. it's already being felted at the dishing docks in new jersey. >> we wonder what's going to happen with our beaches, our lifeguards, our employees, where these people are going to go. >> reporter: the future remains uncertain but experts already predict the effects of crisis on american business are likely to be far reaching and long lasting. >> we saw almost 10,000 store closures last year, we'll see 15 to 25,000 store closures. the sector especially hit, retail stores, apparel, and movie theaters. >> reporter: stephanie ruhle. >> thank you. >>> next on "sunday today," harry smith with the students at a world renowned music school who got creative to bring us what the world needs now. ♪ but for everyone >>> and later, a life well lived. the nurse who died from the virus he was fighting. for most patients that have sensitivity

, struggling under several different ceos, large debt payments loom, sales drop and many fear jcpenney is running out of time. j. jill, high execution risk for its languishing turn-around. s&p points to the broad-based restructuring in the next six months a spokesperson tells cnbc "bankruptcy is not being considered" and that it "remains in full compliance with all of its obligations under its financing agreements and intends to remain so." gnc holdings on monday, it said it is operating under going concern or it believes it is financially stable enough to continue its business for the foreseeable future but many aren't so sure. sears parent company transform holdco this morning said it sold a delivery system to costco for $1 billion but notes continued loss, declining sales and says "it is committed to fulfilling obligations to its vendors." party city, rite aid, j. crew and neiman marcus on the number of distressed retailer list. names that may not recover back over to you >> courtney, long-term declines a sudden shock in that industry. >>> oil prices falling to lowest levels to year

debt payments loom and many fear that jcpenney is frankly running out of time. j.l, moody's downgraded its rating and the execution risk associated with its lang wuishi turn around. ascena retail, they have thousands of stores, many of them in the mall s&p says the likelihood of default in the next few months ascena says, quote, bankruptcy is not being considered and it, quote, remains in full compliance under the financing agreements and intends to remain so gnc holdings, the vitamin seller, is operating under concern and it believes it's financially stable enough to continue with business for the foreseeable future but many aren't so sure and they've delayed their filing party city, rite aid, j. crew and nieman marcus and what we mains of sears, those are all on the disstress list for a number of people for the reasons we've just gone through. many names may not make it through this may not recover. back over to you. >> our fingers crossed want to get to cnbc headquarters with jim cramer joining us jim, as i see it, i'm curious what you think the answer is at thi

jcpenney latest to say, quote, difficult decision to temporarily furlough the majority of hourly associatesnning april the 2nd. that would be day after tomorrow, thursday. this is no surprise as other retailers are doing similar, some cases fairly doctor -- draconian cuts. macy's's, bloomingdale's, 130,000 workers, gap, 80,000 workers, kohl's dumping pretty much majority of sales force, cutting executive pay. sysco the food distributor, also laying off or planning to lay off thousands. simon property, the big mall owner, as i discussed with barbara corcoran looking to furlough up to 30% of its workforce. gannett in the vicinity of 20%. steve madden shoes also looking at a significant number of layoffs, although it did not outline the exact number. all of this on frozen activity. people are not coming out of their homes, they're not going to stores. even for those stores might now and then be open, which are few and far between, there is no business to be had. all right, meantime, it is the virus and tracking the virus and whether that is arcing in a better direction. so far that does not ap

i hope the president is watching, whatever i know that boeing is the one you settle first, not jcpenney> jim, yesterday when we were getting reports floated of 50, $60 billion for airlines, you saw airline shares down, how much of that is related to the fear that if bailouts happen, common gets sacrificed >> i think that -- this is great question, carl i think that the way you can get congress to budge and put trillion, 2 trillion, whatever it takes, is to have it go for the employees. i myself feel that if you pay the employees, you're not necessarily going to do well if you own the common stocks. that's something again we have to settle out. i was hoping for a situation where if you have an entity that was once saved, we know if the government were to take a stake, 10% american air, 10% united, 10% delta, 10% southwest, 10% jetblue, 25% boeing, whoever else needs it, these companies, when we solve this -- i think we seem to forget that we will solve it -- it will be the greatest investment the government ever made the companies will stay in business then we don't have to think about w

that is macy's, jcpenney's, even kohl's. let's have our viewers join in on this conversation.e will start with dave calling from new york. good morning. caller: good morning. i want to try to contract some of the things you are saying quick. one of the things with the bailouts is the federal reserve is printing money. it is going to buy corporate debt. corporate debt has been issued consistently over the last five years. they take that money and buy back their own stock. then the corporate executives cash out their stock options. with this bailout, you are bailing out their luxury homes on the ocean, their lamborghini, there for ari. their fofeig -- rarri. that is a big thing. the bondholders will lose all their money. you are not bailing out the corporations, the company, you are bailing out the people that lend that company might. host: go ahead and respond. guest: i get the outrage. i'm no fan of stock buybacks. this situation is a little bit different from what we saw in 2008 and 2009. leading up to that, you had investment bankers on wall street take absolutely insane ris