john deere, whose workers were on strike this week, have tried to use scabs. but on the 1st day of doing so, here was the theme outside the factory. oh, it seems of the went wrong. yeah, so it turns out experience workers are useful when building heavy machinery don't say i thought a john deere tractor was put together like an i k, a futon. you just look at the picture and yeah, you don't do what the brownie faith is doing. in 1980 the american petroleum institute, internal c o. 2 and climate task force meats and sciences. john lockerman reports in 2005, they'll be a one degrees celsius. rise in temperatures that would be barely noticeable by 2038, 2.5. degrees celsius, rise with major economic consequences. pointing 67, a 5 degree celsius rise with globally catastrophic affects. wow, if only someone had listened to him or i don't know, told the general public. this is still what we're talking about is still 2 decades before george w bush was making fun of al gore for acting like climate change was real. also in 1980. the american petroleum institute publishes

we think of john deere when we think of traditional organized labor. what sort of ramifications does this have? >> some in organized labor in recent years have been trying to avoid these sort of labor elections because the process in which there is ample opportunity for the company to hold mandatory antiunion meetings to one-on-one try to dissuade workers from organizing, there are some campaigns like the fight for 15 campaign which is a campaign of the same union behind the starbucks campaign. some of those campaigns have focused on taking a national approach, putting national pressure on the national chain, trying to get a national agreement rather than going store by store and having labor elections. the theory at starbucks is that if the workers get a foothold at one or more stores, that will set off a much larger movement. >> one thing that is so important about starbucks in particular is they have already moved to raise minimum wage. what is it that workers want above and beyond that question mark >> at starbucks, workers i have talked to said th

and getting the debris off the roads so that the paramedics and fire could get in there to the john deere was the condition like when you first got there? what did it look like? >> it was horrific. if i talk about it a little bit too long, it'll bring tears to your eyes. it's a community that is very close. the wind was still going. power lines, a couple gas leaks. people everywhere. it looked like a mound of ants when you kick it over. everybody is trying to help, try to get in and get people out safely. very dark, eerie. it was bad. >> could you hear people from inside the rubble? >> vaguely. like i told the reporter last night, there were a lot of people screaming in distress. i was lucky to get one lady out. got her back to my vehicle, gave her some shelter, blankets, kept her warm until we were able to get her to her father. a local lady from paducah. but a lot of it was a blur. it was just chaos. people obviously lost their lives, family members touched in this community. just trying to continue to support where we can. >> you say you got one woman out. walk us through what happened

john deere had to make a union contract. >> we are some time away from that.ontract expires on the 30th of june next year. both sides have told me they will sit down to the table and begin negotiating in may. these are important discussions. there will be issues around wages. the industry is making a lot of money. longshore folks would like to see that. i do not speak for either side, but training and develop into the workforce will also be key as robotics and automation are front and center. workers cannot be left behind. >> do you feel the balance has shifted? for so long, workers have less negotiating power. >> the union, which does work across 20 ports, is strong and a democratic organization. atic organization. kailey: this is bloomberg surveillance. happy tuesday morning. once again, buy the dip is taking hold. equity futures are up one percentage point, but the outperformance is coming on the same benchmarks that lack hardest yesterday. nasdaq futures up about 1.2 percent at the moment. it is the small caps leading the charts, rustle up about 1.32%. we

we have seen that with the john deere settlement, strikes at kellogg's, nabisco. of the damage appears to have been done by covid is running through. i know jay powell is noting that when we are seeing inflationary impulses from that. the definition of transitory has been stretched to destruction. i think most people are seeing core inflation at a higher level than what they would have seen a couple of months ago, and certainly seeing the prints at higher levels than most would have expected a few months ago. i think jay powell's testimony is reflecting that view and the evidence in front of him. as i said, there's other evidence coming through that might give one a more optimistic view on inflation. tom: do you take him at his word? there's been an assumption running all the way through this, since 2018, that there is going to be a devilish jay powell at the helmet -- dovish jay powell at the helm. do you take him by his word at this point? richard: we are talking about a slight bringing forward of the tapering. we are talking about the markets pricing in sort of

sema >> hey, mike larger economically industrials like caterpillar and john deere as well as cumminso 4% as industrial investors weigh the impact of omicron on inflation and the pricing of goods. ubs telling me in thiese situations, there are lower unit sales volumes relative to what might have been expected previously shares of general electric also in focus trading down following the delay of president biden's build back better plan which does include credits for wind turbines what is encouraging is even after the last covid-19 wave, the ism nmanufacturing data hel above 55% for the past 16 months that is seen as an encouraging sign for this broad seshgtor mike and sarah, back to you. >> yeah. you know, it comes at a time when as, you know, anl alysts sy they see the makings of a pretty decent, you know, cap-ex boom or up cycle in corporate america. it depends on how other parts of the world manage to do through this wave. >> yeah. one thing to watch there, mike, would be john deere and the latest earnings report that the company talked about how it's increasing the research and de

. >> tell us why you like john deere here >> deere is a quality defensive growth name.f people don't think of it as a growth name but with smart add and inflation affecting the price of food. farmers want to be more efficient and cost aware and how they are producing and harvesting their crops so something like deere does well it's a duration name so if rates go up it shouldn't be impacted but it does have growth opportunity, so we're really bullish on deere. >> deere has had a nice year, up about 30%. it's outperformed a number of industrials so far this year as you point out, investing a lot in research and development, investing more in thes aspect of technology development >>> we are indicated higher on the day for december 27th, nasdaq higher by 37 points, dow jones higher by 30 points. as we said, oil prices have been trading lower over the last hour as we keep travel in high focus. there we go. ice brent is now in positive territory. that does it for us on "worldwide exchange. dym seema mo "squawk box" is next moving is a handful. no kidding! fortunately, xfinity

american worker leverage, leading to several high-profile strikes on hollywood settles, kellogg, and john deereall looking for better pay and benefits. three, historic government aid helped millions struggling in the pandemic. congress passed the $1.9 trillion american rescue plan. >> this historic legislation is about rebuilding the backbone of this country. >> reporter: the scope of the relief was vast. stimulus checks and expanded child tax credit and enhangsed unemployment benefits through september. however, many gop-led states ended those early citing labor shortages. >> about half the states have stopped giving those extra unemployment benefits. they think that was a disincentive. >> reporter: restaurant adrian out fast, and the eviction moratorium ended before most people received any rental assistance. >> 90% of the $46 billion alotted for this program have not been sent. >> reporter: still, the unprecedented relief proved a vital lifeline for many americans. number two, a supply chain nightmare upended the u.s. economy. during the pandemic, the global economy ground to a halt, and ame

last month, john deere workers, able to secure a landmark deal after going on strike for more than aing off a year where we saw a real uptick in organized labor activity, even in nonunion businesses. workers were able to use newfound leverage to lobby successfully for more pay, better treatment, and additional benefits. ayman, your take. >> i'm keeping an eye overseas and for me it's all the people speaking up about what's going on in china. and you had my man ennis canter from the boston celtics, become an american citizen, going after the chinese government for what it's done, definitely out front when you look at some of the other nba players who have not been as critical and outspoken of what china is doing on human rights but you had the wta, the women's tennis association more recently with the questions surrounding this chinese tennis player and her disappearance and allegations of sexual harassment. they've withdrawn all of the tennis tournaments from china. >> yeah. >> and for me, i think that's what we kind of expect from our sports community and our sports leaders. they do

we are set up next to a john deere supplier that has been right next to the candle factory for years now. this is some of the damage and debris those first responders are trying to move out of the way just to get a better look at the rubble and if you come over here behind me, you can see there are plenty of search and rescue crews that have shown up within just the last hours, including the national guard. remember, the governor of kentucky said that he would be calling out the national guard, having a state emergency. we're also waiting on word from president biden about those federal rouesources making thei way here. we haven't had anyone pulled out of that rubble since about 3:00 this morning. that's when the cory oner says they last found a survivor. for the last 13 hours that have been gone by, they've only been recovering people who did not survive. listen to the county coroner talk about what he's seeing on the ground here. >> this is just something, it's just, it just blows my mind. it's just, it's hard to take. and something you just don't plan on ever seeing in your commun

american worker leverage, leading to several high-profile strikes, hollywood sets, kellogg's and john deerernment aid helped millions from the pandemic. in march, congress passed the $1.9 trillion american rescue plan. >> this historic legislation is about rebuilding the backbone of the company. >> reporter: the scope of the relief was that, stimulus checks, child tax credit, many gop-led states ended those early, citing labor shortages. >> half of the states stopped giving the extra unemployment benefits. they think that was a disin disincentive. that was not the only issue. restaurant aid ran out fast. venue relief ran out in months. and eviction moratorium ended before anybody received rental assistance. >> money allotted for this program has not been spent. >> reporter: the unprecedented relief was a vital lifeline for many americans. number two, a supply chain nightmare affected the u.s. economy. this year, americans flush with stimulus cash skyrocketed demand, leaving the supply chain trying and failing to catch up. that meant port congestion. >> this bottleneck of container ships as

let me tell you something -- so many kentuckians have come out with their john deere machinery, whatevercan. it's been remarkable. i've been speaking with people. and incredible stories of sur survival, of heroism. i spoke to one man, charles cheryl, who rode out the tornado in his bathtub. here's what he said. where was the bathtub? right in there? look at this. you were right in there. >> yeah. laying right there. >> right in there. what were you thinking? >> just praying. praying, you know, that god will take care of me. >> where was your family? >> they was in another house a couple blocks over. hardly did no damage there. >> you must be feeling really lucky. >> my first cousin lives across the street. he had to help get me out. >> get you out of there? >> i couldn't see. >> this almost protected you. >> the wall of this house fell on top of the tub. and it saved me from the rest of the stuff. but the house was right here. >> it was over there? >> that's foundation. it shifted all the way close to the road. it wasn't right here. this was the driveway. >> what a sight that is. rode th

dreaded clause, cost-of-living adjustment and what that means is that if inflation is running hot, it john deerees. now this creates a problem because it's a self reinforcing inflation cycle. companies will just take those higher wages and pass them on to us as the end client in the form of higher prices and then-- charles: phil, there's a limit to how often, i mean, there's a ceiling to how much any company can raise prices. i remember we went through a time when no company had any pricing power for a long time. let me transition a little bit because you look at someone who may be well-versed in aesop's phase of vote-- fables specifically the tortoise and the hair and all of a sudden we see low volatility stocks outperform, boring names like pepsi and i was just asking scott and rob about this, in this environment when talking about company's with pricing power where pepsi or mcdonald's, is that a good place to begin particularly as we try to ride out these gyrations and uncertainty? >> the short answer is yes. we prefer value overgrowth value stocks about 17 times and growth stocks twice that

because you mentioned starbucks, john deere, frito lay, mcdonald's, you know, they've all had workers shift happening? >> well, we are in one of these very rare moments in labor history when workers do have some more bargaining leverage because consumers have a lot of pent up demand for all kinds of products and goods and services, and employers have got to get more workers in order to meet that demand, but at the same time, a lot of workers are saying, hold it, you know, i have been through this pandemic. i've been putting in extra hours. i want to re-evaluate where i am. i'm not sure i want to stick in this old job, and many workers, if you look at the quit rate, which is the rate that people are quitting their jobs, and you look at also the labor participation rate, the number of adults who are eligible to work who are actually in the labor force, you know, what you're seeing and then the strikes obviously, what you're seeing is a picture of a labor force in the united states particularly on the lower wage end of the labor force who are saying i'm really fed up. i'm not going to ta

there's a john deere dealership that's directly across the street that had a big impact from the tornadoy buildings that are in this complex. but clearly the candle factory took the direct hit from the tornado. and from our vantage point from here and the industrial complex, we can clearly see the tornado path that went through mayfield, kentucky. and you can see the damage that it left behind. >> yeah. it's extraordinary to see it up close. chief thomas neil, i really appreciate your time and all your team's efforts. thank you so much. >> thank you. >> the chief reminded me, i first met him 16 years ago in the early days of hurricane katrina, the second day after the storm hit. he was involved in rescue operations there. they do extraordinary work. so many teams on the ground here. although much of the focus has been on mayfield and the candle factory, this is not the only place where people are suffering. our gary tuchman was one of the first reporters to reach the town of bremen, kentucky. what he found is that close-knit community in shock. we'll take you there next. i feel fearless

truck and you just look and it's hard to see because it's still dark, but it turned -- i'm in a john deereally turned tractors over, and we're not talking little tractors. we're talking tractors that are used in large fields, you know, probably 20, 30,000 pound tractors, and they are tipped over. i don't know. i don't even like looking outside my truck as it's getting light because there's nothing left. if you want me to describe that picture that was taken with that drone, once you walk over that hill, it's pretty much a building that's flat. it's just a pile of -- it'd be like somebody taking a dump truck of dirt and say that is -- and it's just like a big pile of debris. >> michael. >> there's nothing -- the emergency personnel are fine picking in through all that debris doing their best to find the survivors and anyone else that's in that, and it's -- i don't even like walking over there. >> i understand. i appreciate you showing us. we want you to stay safe, and we know you're surrounded by debris, and i can hear the emotion in your voice. michael gordon there for us on the ground in

we saw john deere with wage increases over the next four years. >> workers do have more leverage now,on't care whether they're ready or not. it's time to go back to work, and if the president continues to give people excuses not to go back to work, he's not going to get over this problem, and saying that i'm working on the supply chain or everything else is something that the public is not going to understand. he needs to acknowledge the problem. he will not acknowledge the problem. people then think he's not getting it, and then it becomes -- joe biden has said his favorite president was jimmy carter and he is becoming jimmy carter. weak, ineffectual, whittled by inflation, in a workforce that won't go back to work. >> that's in the long-term for the american people. 6 million new jobs created, an unemployment figure that was over 6% a year ago down to 4%. look. every step -- as every step along the way, president biden has shown that he's going to deliver for the american people regardless of all the obstruction by republicans. >> margaret, the big question now for the president, he

i live in moline, illinois, where john deere, the uaw workers had gone on strike and they came up withable deal, a tremendous raise in the first year. it's a six-year deal. but, you know, there's a lot to be said about the economy that is good. there's a lot to be said about the legislation that we did pass that is good. now is there more work to do? of course there is but we'll get a lot done in 2022. >> among those things, let's turn to voting rights because the president, as you know, is giving his most direct support yet for a filibuster carve out as the legislation appears at this point stalled in the senate. take a listen to this. >> whatever it takes, change the senate rules, too comdate major pieces of legislation without requiring 60 votes. >> so you support a carve out of the filibuster for voting rights? >> the only thing standing between getting voting rights legislation passed and not getting passed, i support making an exception of voting rights for the filibuster. >> how does this get done? and the political stakes of not making good on the promise of restoring voting ri

we're here in front of a john deere dealership.have heavy machinery just tossed all over the area. but i think the fact that you have just all this debris on the ground and it's extremely blustery right now, so you have all sorts of things just flying around. you can even smell this strong perfume in the air and you can only imagine it's perhaps coming from the candle factory behind me. >> oh, that is very interesting. right. scented candles. i hadn't even thought about something like that. so, this janeane johnson who you have said there are family members, her brother, her husband, looking for her. they're looking at hospitals. do you know if there's been any sort of a command center set up so people can call in and say, look, here's where i am or let loved ones know that they're okay? >> reporter: i think that's the biggest frustration for the johnsons and other families right now, because they obviously came to the workplace, her workplace, and hoping to talk to someone, to get any sort of answer as to where she might be, if th

. -- john deere for the first time in decades.d to confirm that it is pretty entrenched and impacting cost of living for people. the risk is it becomes not just an economic issue but a big global issue heading into next year as well. expectations are the data will confirm u.s. inflation continues to remain red-hot, which is expected to pressure the fed into next year. juliette: this is a voelker-era moment. what does it mean for the powell-arafat? -- powell-era fed? >> they have changed their rhetoric, as we know, in recent weeks. by all accounts, they are heading for an aggressive tapering now, their big bond-purchasing program, but i think the question is what do they do next year. there is so much of an unknown factor, in particular with the omicron variant we are all waiting to hear word on, and i think how that plays out will determine so much for consumer confidence, so much for how economies can function normally and so much, of course, for the whole supply chain story. there are a lot of variables to consider heading into

the united auto workers win better pay and better retirement benefits after a five-week strike of john deere, and it was good for non-union employees, who got a bump in pay, too. for too long, corporate greed has kept paychecks down and prices up. corporations cut costs at workers' expense to juice their quarterly earnings numbers, even when they're already plenty profitable. executives reward themselves with record profits and stock buybacks, while arguing they can't afford to pay higher wages to anyone else, or can't afford to lower prices. during a once in a generation global pandemic, despite thein supposed labor shortages and inflation fears, wall street banks and corporations still managed to rake in record profits. profits at the biggest u.s.ba companies shot above $3 trillion this year, and the margins keep growing. and now, while working families are just starting to get back on their feet, mega corporations would rather pass higher costs onto consumers than cut into their profits. to continue the progress we've made, we need to rethink that old system. the biden administration is c

to be sure we have seen those cases in facebook and google, visa plaid, john deere and nvidia arm. enforcers might be reluctant to bring innovation competition cases because they perceive high litigation risk. this is amplified by the court's deference to claim to merger benefits would stack the deck against plaintiffs. we know from business research that few merger benefits are ever achieved as illustrated by at&t's postmerger spinoff of warner media less than three years later. discounting efficiency claims especially in mega mergers can spark more innovation competition cases. third, current approaches to showing harm from smaller disruptors are inadequate. aside from a high evidentiary standard, little attention is paid to evidence of intent or that dominant firms take out innovative rivals to maintain market positions. stronger or different standards are needed. antitrust has a way to go on innovation competition and enforcement will require support from congress including shifting the burden to defendants to justify mega mergers, stronger standards that neutralize disruptors

uaw one better pay and retirement benefits after a five week strike at john deere. it was good for nonunion employees which is typical forget about the near pay. corporations cut cost even when they are already plenty profitable. executives reward themselves with stock buybacks and then to afford lower prices. and those thatan inflation fears of wall street banks to manage to making record profits. that is the biggest us company shot above $3 trillion this year and now just starting to get back on their feet and other passed a higher cost than cut into the already large profits. to rethink the old system to bring down cost for families the biggest cost in many cases decades housing healthcare prescription drugs and the democratic agenda will bring down these cost and the american rescue plan to put shots in arms and money and pockets including the child tax credit the largest tax cuts for working families ever so millions of families can keep up with the cost of living 90 percent of families in pittsburgh and cleveland and toledo and ohio those that are getting at l

just saw the united autoworkers win better pay and retirement benefits after a five-week strike of john deere. it was good for nonunion employees. this is typical. for too long corporate greed has kept paychex down and prices up. corporations cut cost to jews quarterly earnings numbers even when they -- cut costs to juice quarterly earnings numbers even when they are -- during a once in a generation goebel pandemic, despite the supposedly verse shortages and inflation fears, wall street banks and corporations managed to rake in record profits. they shot above $3 trillion. the margins keep growing and while working families are starting to get back on their feet, megacorporations would rather pass higher costs on to the consumer than to cut into their already large profits. to continue the progress we need to rethink the old system. the biden administration is creating jobs and bringing down costs for families to build a resilient economy. cost seven rising for years, housing, health care, childcare, preschool. the democrats' agenda will bring down these costs. with pasty american rescue plan,

griff: leaf blowers, quite thorough operation. 3 leaf blowers and john deere tractor, they are doingwith criminal nuance, endangering others, criminal trespass and disorderly conduct and he's expected to present in court today. two for drug possession and one more public intoxication. ainsley: will he be out tomorrow? brian: maybe now. steve: first he has to appear in court. i heard he was still talking with the arson investigators as a little while ago. going back to what griff was talking about, it's interesting where some of the democratic politicians are blaming the retailers. you didn't have enough cameras, you didn't have security guys, why don't just blame the retailers for having in the store stuff that people would want to steal ultimately. ainsley: you have nice things, what do you expect, the guys should come in and take your things? brian: so many people leaving major cities especially this one. one of which is -- >> ainsley: everybody is getting fed up. you walk to fox and the tree is burned. blaming retailers. brian: high taxes and you have a situation where you have th

look at these john deere tractors absolutely just mangled.sources flooding in as we speak for the different counties that are trying to come in here and offer their resources. we will have ongoing coverage of this streaming live for you right now in your fox weather app. will: will, we keep hearing the number of -- >> -- very, very. will: i'm sorry, will. cutting in and out just a tad b.i.d. bit but it's working here incredible footage incredible report. hearing 50 to 100. any idea what is the potential loss of life in how many people are still missing? >> we have not had a briefing yet. as we are speaking dozers and ambulances still arriving. in mad rush to get into this building and search. what they are trying to do -- there has not been overall accounting yet. not been the situation where they have been able to take a step back and try to figure out those numbers because this is such a raw. pete: will, i don't know if you can hear it and images are stirring candle factory in the middle of the night presumably. do we know what kind of warn

deer season. >> it is very clear to me, john, that senator manchin has engaged in negotiations from my point of view in bad faith. >> harris: what do you think about that? >> wow, it is like the cast of the view cloned itself and now that's the tenor and tone occupying other cable news networks 24/7. what sources? probably democratic sources. no one close to joe manchin in west virginia. look, the old saying is always plan for the fact that no plan ever goes according to plan, right? despite what the activists playing pundits are saying manchin has been consistent in his messaging since the beginning and his concerns over spending before. when you throw in heating costs will go up 50% this winter. that's the forecast. gas prices are still at 10-year highs. maybe just maybe democrats should have followed manchin's pragmatism and shelved the bill for a later date. political pundits can attack manchin on the personal level. the american people care about solutions not food fights and making manchin the worst guy this planet has seen since mao won't resonate. >> harris: it has to be embarrassing fo

senator, is it honest to say you support the john lewis voting rights act, a critical legislation and part of american democracy and honoring the man you call a deerh the senate blocking any form of filibuster, is that you really being straight with the american people? >> i'm really up front when i talk to fronts about what i believe in, what i can and can't support. >> senator, how often do you even talk to folks in arizona? why are you so averse to holding town halls in your home state, to meeting with the activists who knocked on doors to get you elected, who knocked on constituents in the street as is their right and how can arizona folks be sure the senator believes in them when pulling teeth is easier than getting an interview with you. still, senator sinema, the door is open to you on this show if you would like to answer any of my questions that is on your stance on voting rights, support of the filibuster and big corporate donors. see you soon, senator. >>> coming up, top of the hour, joining aymon to discuss what house democrats to to avoid inflation to supply chain crisis reductions, don't miss it, 9:00 p.m. eastern. don't go away. at