as well as gmceo mary barra.2 billion equity stake in the company in exchange for in kind contributions. it's kind of interesting we'll be talking about it. gm will engineer, validate and build the badger for both the battery electric vehicle and fuel celek trick vehicles that are part of the in kind services nikola anticipates battery and power train. also $1 billion in engineering and validation costs with this deal, this alliance with general motors >>> elsewhere, amd -- >> it's remarkable. >> yeah, isn't it, andrew. go ahead >> i was going to say, you look at the market companies of nikola and gm. nikola is 1/3 of gm and now you're putting them together to some degree. i think a lot of people thought of nikola as a sort of tesla smaller version, we're going to talk with mary barra and the ceo in just a moment how does this change gm? how does this change the sort of profile, if you will, of nikola. evs have been a lower margin business for most of the auto manufacturers. what does the public or investor class

. >> that was gm's ceo, mary barra, earlier this morning on "squawk box" when she was discussing theny's decision to produce nikola's badger electric pickup truck gm will also take an 11% stake in nikola as part of that deal you know, jim, we had trevor milton on not that long ago, a month or so ago. we gave him a hard time, he's got to deliver this is number one on his list, and it would appear that he delivered on this front. shareholders also seem to agree. $2 billion in newly issued common stock to gm for what they're calling the in kind services and access to gm's global safety tested and validated parts and components that will have a lockup provision along with it and gm will engineer, validate and manufacture the badger battery electric and fuel cell versions. it's an interesting move for gm as well. we could get caught up in in nikola but this would make it interesting for mary barra. >> this is a good reason to own gm if you think they're going to split it off as far as the honey badger, i don't know what they get for gm. what does gm get they get a list? what does gm get o

mary barra signaled the company is standing by its deal. 2020 keeps on throwing those punches so far this year the u.s. had $10000000000.00 worth of weather related disasters setting a new record as artie's alex mahela which tells us this has not only hurt the nation physically but also financially. from hurricanes in the gulf. to wildfires on the west coast. when it comes to the us 2020 has been unforgivingly beyond the coronavirus in terms of wildfires which of primarily hit california and oregon more than 30 people have been killed thousands of structures have been destroyed and over 5000000 acres scorched many are blaming climate change we're in the midst of a climate of urgency where in the midst of a climate crisis we are experiencing weather conditions the likes of which we've never experienced in our lifetime we're experiencing what so many people predicted decades and decades ago but all of that now is reality breaking previous records this year the united states hit its $10000000000.00 weather disaster earlier than any other year. aside from the devastating fires this year

about how women begin leading companies at a time when they are in trouble talking about the time mary barra started at gm. she's not walked off the cliff but climbed that mountain. nonetheless for jane frazier, clearly there will be challenges ahead. >> that comes from other examples ahead i was thinking, if we had joe an on, thinking a woman has to come in and clean up the man's mess there may be some truth to that. we hear that all the time about countries. it is probably politically incorrect to talk about. i'm surprised we haven't had joe an on. >> we'll have to call and get her on the news line >> we'll have to do that but that would take more time away from your appearance. shares of electric carmaker nicola sinking the sec reportedly investigating the company over allegations from one wall street research shop that it deceived investors about the research prospect. saying on september 11, the legal koub sell contacted and briefed the sec regarding nicola's concerns pertaining to the hindenberg report. they've called nikola in their words, intricate fraud that they overstated the capa

a whole new level how the race has made its way to the video game level >>> general motors geo mary barral learning fault she was invited last year in the find something new campaign in an effort to spur employment >> sec to work on whistleblower program. people could receive up to 30% of the overall monetary sanction that would give sec the ability to cut the largest award and process claims more quickly. >>> google says they need to set clearer goals of diversity the team highlights their dissatisfaction with efforts around roles and pay stay tuned you are watching cnbc. >>> welcome back, we are seeing a live shot there in midtown manhattan. we are seeing a little drizzle of rain there. video game campaigning in a burger covered in beer cheese. top trending stories with frank. i don't know where you'll start. video game or burger cheese thing. >> let's start with the biden/harris ticket taking virtual campaigning to a whole new level. launching merchandise in animal crossing they could choose various yard signs and call the move an exciting opportunity to connect with supporters as they

that's not the truck we're building and we never said it was self-powered >> you surprise that mary barrat today and said we have the -- >> i'm not i talked with some people who are intimately familiar with general motors and the due diligence they did they believe nikola does give them real opportunities here does that mean it's going to be a home run and will be as huge as tesla no nobody knows that at this point. they plooef it's a deal they can work with and grow with. they don't plooef it's a case of trevor milton pulling one over on them. >> no ceo especially some wants to come out and have egg on their face if not omelet all over their suit. >> right the question becomes if you're nikola, do you get caught up in all of these doesn't matter you didn't use it as part of the sales process for getting investors. you used it as a vision of what the company could become a lot of people did think it's self-powered >> phil, i appreciate you coming on with that news. >>> a spike in natural gas prices as hurricane sally heads towards the gulf coast we'll get those trades and do that straight

there has been a love-hate relationship between donald trump and mary barra. clear to me that she has changed her direction no matter what the president has said. georgetown is still closed and so is a small transmission plant in michigan where you ivanka trump is today and another in baltimore. jobs in technical warren for things like batteries and electric vehicles. they are building a battery plant in conjunction with the battery partner for electric vehicles in that town but those jobs will pay less. it is not a big victory for the union. it is not a big victory in terms of manufacturing wages because it is basically supplemental -- supplementing lower wage -- supplementing higher wage for lower wage jobs. maybe the trump administration will make hay out of this. david: finally, going across the road to ford, we have a new ceo who announced 1400 white-collar workers being laid off. is that a surprise to you? david w: no, we have been waiting for this as part of the steps in the cost-cutting program. -- illows what gm did think they cut a thousand sally wor

mary barra was asked if she would spin off the electric division. was not off the table. so general motors will be an incredible electric vehicle play. and the cruise industry, these stocks were decimated by no fault of their own. the cruise industry in january was looking at a record year for 2020, and was decimated, and they are doing everything possible to put in place the when they safely sale are allowed to start to sail again. companies like norwegian, my number one pick in the cruise industry. i still like a lot of the tech withs, including nvidia, their announcement yesterday of their new high-speed graphic cards. others are qualcomm and skyworks solutions, key apple suppliers. is a powerful investing theme. the recovery of the consumer sector will be a powerful investing theme. and i believe they will recover very strongly. lisa: just 20 seconds, how high could devaluation of amazon get? it is now 1.7 5 trillion dollars. what is the peak, and your view? ivan: i have been recommending amazon for some time. i don't really use price targets, b

across the street got a call to come over to the oval and president trump literally demarched ceo mary barraa great guy, greg clinton, general counsel there, he said hey, let's fix it. my team worked closely with craig and the gm team. rob portman, the senator did a great job as well. what we started out, charles, trying to figure out what would fit in that footprint what we could do? every many months two things happened. it is really made a great future for the mahoney value in ohio. the first thing gm did was partner with lg chem, two billion dollar joint venture making batteries for the electric vehicles. gm is making a big bet. they're going all ev. at the same time we're looking inside of the perimeter, charles, saying what could go there? the lordstown motor thing came up, okay, gm if this is going to work, you have to put your full expertise and financial might behind them. they agreed to do that and today, i mean that truck is the coolest thing, charles. the wheels, the four wheels are the engines, right? you open the hood, it is storage space. this is like state of the art stuff. i

i'm a huge fan of mary barra 1 she came on to talk about the wonders of this transaction. >> i wonder what gm does now interesting about what they can or can't do. the former gm executive that is there now trying to run things >> we'll talk about this more. coming up, apparently, thereer there is a debate tonight. a big win by president trump or joe biden could mean for the markets and delivering alpha back for the 10th year go to the website to see the lineup and to register we'll be right back. ♪ >>> president trump and former vice president biden preparing to face off tonight. keeping close tabs to what the two men may have to say amid the recent wave of market volatility leading up to the election it is 9:00 guys. we have to work tomorrow what do we do? >> two choices stay up late or get up early >> and see some of the highlights, right? i guess. are you going to watch any of it >> i'll watch the first hour >> you'll be lath ar gik punchy 10:00 to 5:55 for you. so you'll get. you almost get -- >> not bad, right? >> that's about right. you have five minutes or give yourself seven o

all of this raises questions for j general motors that struck a deal mary barra today presenting at a conference she said we did our due diligence on nikola. we think there say lot of opportunity here they bought an 11% stake in this company. they have an interest in this back and forth with the research >> but, phil, i mean, whether they're managing to try to dig themselves out of this hole by they faked the trucks ability to propel itself. they know what product they're going to sell. they know what consumers want the product to be able to do it is like if you showed a clean t-shirt from a deturnlg ent company and it hadn't actually been cleaned by the detergent even though there is a caveat. that is falsitiesing that is in 2017. maybe they can propel themselves now. it doesn't give you a level of trust. >> and what they're saying is you can't take statements from back then and make now forward-looking statements that's mixing apples and oranges. if you said it then and then you had had investors through a number of rounds of fund-raising, you were misleading people. that is at the

mary barra is meticulous and wants her team to be meticulous.here otherwise you would see them walking away from this deal. >> phil, we'll check in with you again. >>> the gates foundation teaming up with some of the biggest drug companies to expand global access for global 19 therapeutics and vaccines. good morning, meg. >> the gates foundation calling this unprecedented partnership with 16 of the world's largest drug companies and diagnostics companies essentially focussing on ensuring access and lower income countries to drugs, diagnostics. making sure they can be accessed there and delivered in different settings making sure as well to keep safety and commitments to the highest scientific and ethical standards as the first priority above speed or politics. and also ensuring that there can be equitable distribution globally now the gates foundation ceo telling me this is so important because the pandemic doesn't end until it's eradicated everywhere, saying, quote, it's a simple epidemiological fact that the only long-term solution is to make

they get to share in the upside of the nicola equity with the issues coming up with nikola, mary barraably asking many questions and their board is probably asking questions such as did my team conduct a full investigation of the team and talent. does she want to dedicate engineering, manufacturing and resources to the nikola project. second is, is the nikola brand now damaged weighing in the brand and weighing the market or the risk. so that's the question do you try to get out of the deal at this point. >> one of the questions i tried to ask mary is how they had come up with and they felt with the valuation of nicola that so much of the transaction revolved around them taking a stake in the business and doing the work and diligence on the company and not just getting an out source company to pay you to do stuff, they were taking a piece of the pie here >> she is getting with her business development, head of manufacturing and saying listen, i want to double check this due diligence. steve gersky will become the chairman there he worked a long time with mary. he's probably getting on

nikola, the connection with gm, people now start to look at gm we had mary barra on they own a piecef nikola >> true. the fda can use its emergency use commission to shrink the lag time of approval according to fda commissioners dr. scott gottlieb joining us now is dr. scott gottlieb he's also a cnbc contributor serves on the boards of pfizer and illumina you now have a tougher case to make, doctor, after comments you've seen that are well intentioned, helpful, whatever you heard bill gates almost questioning the legit massy of the fda under the trump administration now you've come out with this op-ed. you are proposing an expedited process after we've just said we need to be really weary of what these companies will do. >> what the agency will do is use the fda's emergency use authorization which was cot tied by bio shield in response to the anthrax attacks and have a recall act in 2013 and teaked a little to respond to the h 1 n 1 pandemic it gives a lot of latitude to make a market entry. the fda will put out guidance for approval or authorization of a vaccine. i'm pretty sure tha

i don't know if mary barajas like -- barra has the venom.he would do that i can imagine a scenario where someone was thinking that way. it's not a nice thing to do. what are you enforcing in? the whole henning based on gm. >> there was a story there that investors were happy to buy into well before gm put in the stake, similar to the tesla. >> have some things about that story changed? have some things about that story changed? >> well, there have been accusations for sure yes. it's a different picture i get your point palantir, i want to hear your thoughts on that too, josh surged 30% the company coming under some criticism for its unusual share structure with the addition of f shares which gives founders varying voting rights. ceo karp addressed the issue with andrew ross sorkin when they spoke listen. >> the primary reason we asked investors to buy into it, we need to be able to go especially to our intel and defense clients and say we will not just blow with the wind. those shares for a company like ours give us a unique ability for long