kass, welcome. i know he was introduced before but he's from c.h. robinson, which is one of 16 fortune 500 companies headquartered in minnesota. we are pretty proud of the company of c.h. robinson. i know senator inhofe was just asking about the importance of the national level involvement with the advisory committees and feedback you're getting. i want to ask you about the efficient flow of freight across america's multi modal transit systems, how important that is to the competitiveness of our economy when shippers are delayed and major congestion and outdated infrastructure products don't arrive on time, businesses suffer. costs for consumers go up. in addition to addressing the freight bottlenecks, what investments should be made to improve supply chains and the flow of freight? >> in terms of investment in supply chain and what can help the u.s., the vast majority of freight with respect to my colleagues here, the overwhelming majority of freight here in the united states is still shipped via truck. period, end of story. so with that, i think w

kass wits said we disagree with the decision which is wrong as a matter of constitutional law.nd to immediately appeal and seek a stay of the case until the issue is finally determined. will trump avoid the deposition or will he face her in court? >> i don't think ultimately he is going to be able to avoid participating in discovery and having to answer questions under oath, don. but clear i this gives his lawyer another bite at the apple, gives him another opportunity to delay this lawsuit. one thing that judge in new york said he had to answer that complaint within 10 days. there was a short window of time in which donald trump had to for the record state a what the his response to the defamation action was. now presumably this appeal gives him an opportunity to tla the matter. that's what he has been trying to do. he asked the skort to dplis the action. he said this is he is a sitting president. the judge rejected that argument but now he gets an opportunity to make that argument again to an appellate court. and he may be able to dodge a bullet temp aerial. i don't think per

stuart: doug kass is not one of sunshine boys. i will try last one.ange. some people followed that advice. it went to $13 a share. would doug cast buy an old dinosaur like ge at 13? >> i say this very respectfully. i graduated second in my class in the mba program in wharton a couple years ago, like 40 years ago, and i'm pretty good in analyzing balance sheets and income statements. general electric is one of the least transparent and most opaque companies i have ever tried to analyze. and though, though some of your talking heads may have a gut feel and tend to buy because the price is low, if i can't analyze a company, i can't make an investment conclusion. stuart: well, not quite sure where to go with this, but doug, we value your opinion, i know you are a big hitter on wall street. i think you may have just moved the markets certainly on facebook. doug kass, thank you for joining us, sir. we appreciate it. >> thank you for having me, stuart. stuart: good stuff. ain't one of the sunshine boys. ashley: no. stuart: we turned fractionally lower. i cal

. >> thank you, weather kass. next we have joe strang, the american shortly and regional railroad association. previously served as chief safety officer for the federal railroad administration, and provides an in depth knowledge of needs and regulatory policy. welcome. >> thank you. thank you chairwoman fisher, ranking member peters and members of the committee. the association representing the nation's 600 class 2 and class 3 railroads and operate under 50,000 miles of track on nearly one-third of the nation's network. we handle one out of every four railcars that move through the system. we're small businesses, the average sides of a shortline railroad is 30 employees. the combined annual revenue is less than the annual revenues of any single one of the four largest railroad carriers. the branch line was headed for abandonment and invest on average 25% to 35% of their angyou'll revenues and infrastructure making shortline railroading one of the most capital infrastructures in the country. there are thousands of

so it is -- so that is to me a much more important rate that gets very little attention doug kass has very little attention and it deserves more because it is truly a rate on which many events turn. >> many of those who have noticed it are explaining it away by technical factors. issuance ever treasury bills, whatever the reason for the scarcity of dollar funding i guess it didn't matter to the securities pinned to this rate, right? they go up in korin cost. but does it say anything about stress in the system >> i think it illustrates to the extent that the world rates are stre trend a trending higher. a one year bill in china that has gone up from 160 to -- may the witness consult his notes? anyway, it's gone up a lot in china. european central bank has cleared its throat as if to suggest that it may step away from its massive qe program. the bank ever england is poised to apparently raise its administrative rate. it is not as if our dollar libo is only the rate going up. famously in some circles have tended to trend in generation length intervals over time >> you are an investor aim