mckinsey and co. actually noted that the $8 billion that was being spent on dei projects was having no in corporations or organizations. so this isn't just something the right or center right is talking about and arguing over or debating. this is mckinsey and company. this is walmart, this is mcdonald's. these are iconic brands that have made a decision to wind down their dei policies. and. >> well, they're making these decisions. they're making these decisions in large part from the pressures of attorneys general across the country and also the leadership of the president. but i do want to go back to the point that was so sharp and shocking for so many people. let me get back to my question. you and many people outside of the commonwealth of kentucky remember you for your role in defending the grand jury's decision as it relates to breonna taylor's killing, in which you said, and i wrote this down, do we really want the truth, or do we want a truth that fits our narrative? and so does that not apply

released today by mckinsey. that's compared to 33% of all americans. >> in that. >> same financial situation. a major factor the national housing shortage. according to mckinsey, there's a shortfall of more than 8 million homes here in the u.s. joining me now to talk much more about this new report, investing in home unlocking mobility for all and gains for black families is one of the authors, shelley stewart, senior partner at mckinsey and company, also the chair of mckinsey's institute for black economic mobility. shelley, good morning. >> great to see you. >> good morning, frank, and congrats on. >> the show. >> thank you. talking about this new report, you just released it today. i want to kind of. >> broaden this out. >> and kind of just bring this message to our audience. why is it important to fix this issue for black americans? what's the impact if we fix it for not only black americans and all americans on the economy, things like gdp? >> yeah. >> so look, frank, i mean, you hit some of the main. >> st

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so there you start following the money fallout from mckinsey was selling a lot of esg and services. you follow the large index funds that all of a sudden were the largest investors in the companies. they were telling companies to put in these esg measures so they could put you into an esg fund. they're going to charge investors 3 to 4 times the amount of money from. and then they changed some of the purpose of the corporation, the u.s., to make it legally able to do so, kind of leading into the 2019, 2020 covid timeframe. well, i remember when the business roundtable put out its sort of updated view of the purpose of a corporation in, the modern world, and there's a section on your in your book that sort of reflects some of the new statements that were around i read it a brief section here from the late 20 tens. in the first category were things like anheuser-busch pledges to, quote, continue fostering an inclusive workplace so that underrepresented across our markets are not only represented but can succeed in business. the company also promised to, quote, respect human rights and

but, if you look at numbers over time and mckinsey came out with this report, between 2012 and 2023 productivityeed to get to sub 2% to maintain where we are. the underappreciated risk issue is that you are putting a lot of reliance on productivity and it feels like we are in the right direction and it feels like there are a lot of variables that upset the mix. sonali: it seems like if you have an aging population and there is so much of the existing u.s. budget that goes toward supporting that then how much of a problem is it that you do not have the fertility rates to support that growth rate. purnima: let us pretend you get fertility rates from 1.66 to 2.1 today. it will take 20 years. it takes a long time for that to be the lever. i go back to the simple math which is, population press productivity equals growth. and then if you double-click the population and say that population is organic population plus migration. you do have a lever that could be helpful between now and then. ultimately, the numbers that i have seen and these numbers are low over the place. the numbers i have seen is tha

was the medicaid director for the state of massachusetts and was a partner at the consulting firm mckinsey in their health care and public sector practices unit. >> i've spent my entire career trying to make health care better and to better serve people that would otherwise fall through the cracks. and i've spent the past decade in public service at the national and state levels, and this work excites me. it gets me up in the morning. >> last month, grant colfax resigned as san francisco's public health director. >> today, president trump signed an executive order enforcing elon musk's work for the department of government efficiency, better known as doge. it gives the richest man in the world even more power when it comes to managing the federal government. >> abc seven news political reporter monica madden is here now, and monica musk made really a rare public appearance today inside the oval office. >> right, dan? and what was even more rare was that he made more comments than the president, who hardly spoke throughout the 30 minute exchange. as musk explained their vision for revamping

was the medicaid director for the state of massachusetts and was a partner at the consulting firm mckinseyblic sector practices unit. >> i've spent my entire career trying to make health care better and to better serve people that would otherwise fall through the cracks. and i've spent the past decade in public service at the national and state levels, and this work excites me. it gets me up in the morning. >> last month, former public health director doctor grant colfax announced his resignation. his last day was february 7th. >> a san francisco group is calling for some major changes to the state's home insurance market. the urban policy think tank spur is laying out recommendations on how to make home. the industry. the industry that insures homes sustainable while remaining affordable. one highlight came in the context of the l.a. firestorm and the need to help homeowners protect their homes from fire risks. >> it wasn't forest trees and stuff like that that caught on fire. the houses caught on fire, which caught the next house on fire. and then the winds picked up the embers and threw

was the medicaid director for the state of massachusetts and was a partner at the consulting firm mckinseyn their health care and public sector practices unit. >> i've spent my entire career trying to make health care better and to better serve people that would otherwise fall through the cracks. and i've spent the past decade in public service at the national and state levels, and this work excites me. it gets me up in the morning. >> last month, grant colfax resigned as san francisco's public health director. >> valentine's day will be extra special this year for those in philadelphia. the city will be throwing its super bowl parade and ceremony for the philadelphia eagles. the parade is taking the spotlight for the day. schools are closing, hotels are filling up, and there will be a heavier police presence. the mayor of philadelphia is encouraging people to come to the celebration despite the activities normally planned for the day. >> and i want you to come out and enjoy the celebration on friday. i've heard a lot. a lot of people say, wait, friday is valentine's day. we made arrangeme

was the medicaid director for the state of massachusetts and was a partner at the consulting firm mckinseyn their health care and public sector practices unit. >> i've spent my entire career trying to make health care better and to better serve people that would otherwise fall through the cracks. and i've spent the past decade in public service at the national and state levels, and this work excites me. it gets me up in the morning. >> last month, grant colfax resigned as san francisco's public health director. >> looking to try a new restaurant. yelp is out with its new list of the top 100 places to eat in 2025, and many are right here in the bay area. yelp ranked holbox in la as the top place to eat, but several bay area restaurants made that list, as i mentioned. coming in at number eight was the good salad in santa clara mesa in redwood city came in at number 29. de ho in san mateo ranked number 81, and pasta moon in half moon bay just made the cut, coming in last place. all right. and if you were a fan of the first wicked movie, ariana grande says you can prepare for a whole new exper

mckinsey saying it's about 1.2 billion a year.enth of the price of trump's plan to exempt tips from income tax. so it's not going to be much of an offset. it's still going to face a big fight. the american investment council, which represents private equity, saying, quote, we encourage the trump administration and congress to keep this sound tax policy in place. it supports jobs, workers, small business and local communities. so, kelly, we've seen this before. president trump and president biden both saying early on in their terms that they would kill this. it has not happened. perhaps this time is the time because they do need some offsets for extending these $4 trillion in tax cuts back to you. >> yeah, but how would $1 billion? i mean, that's not going to do much. robert, thanks for more on the fiscal impact. let's bring in maya mcginnis. she's president of the committee for a responsible federal budget. and maya, i mean, we can start on carried interest if you want it. is it true it's only going to raise $1 billion if they go

mckinsey says it's about 1.2 billion a year.of the price of trump's plan that he also mentioned yesterday to exempt tips from income tax. and it's still going to face a big fight. the american investment council, they represent private equity saying, quote, we encourage the trump administration and congress to keep this sound tax policy in place that supports jobs, workers and small business and local communities. so, frank, going to be a big fight over this. but given that they have to find some payfors for this $4.4 trillion tax extension, this could be the time that this finally ends. >> so, robert, you mentioned the biden administration had talked about this as well as well. so you're saying it seems like it's lobbying that's kind of keeping it in place. >> yeah, it's really the far left that has been advocating to get rid of this loophole for 20 years. in fact, it's the trump administration that finally did something about it in 2017. just reducing that time. you had to hold the assets. biden just couldn't get the votes amo

come out from the mckinsey group that show. >> that these companies. >> make billions of.rate america might be backing away because of trump. >> but at the end of the. >> day, this. >> is what sells. i mean, kendrick lamar was chosen. >> to be the halftime. >> act for a reason. hip hop is driving. >> culture not just here in this country. >> but around. >> the world, across the pond. it's happening. so having that inclusion, that diversity. >> is catering. >> to a. >> younger audience who's actually going out. >> and buying these products. >> they're the ones. that are. >> making these companies very wealthy. and dni or. >> dei is what really does drive the dollar. i mean, they're going to say what they have to say and take the knee to donald trump in order to appease him. but they still want to sell dolls. they still want to sell clothes, they still want to sell their products. and the village people performing for trump is not going to do it. right wing culture is not hot. it's just, you know, they may have the presidency, but they don't have the culture. it's just not i

> well, listen, i mean, the difference is that this is a company that we that you're bringing in mckinseyor something there, there are tons of laws. there's procedure, you know, some things, you know, congress has to act on. but with all due respect to jared and i and i and i thank him for his service in the biden administration, that critique about this is the way. we have always done it. and why haven't these changes been made before? well, that's that's kind of what people said about spacex. spacex would never work. there's a certain way you have to run a rocket program and they're doing something different. i would argue that the reason these changes have yet to be made is because we were trying to do it the old way, trying to, you know, have very long conversations with stakeholders and make sure no one's upset. so they're trying something different and maybe it won't work. but as i said, this country has huge challenges and maybe we need to move a little bit faster. >> go ahead. >> i think that's you. >> know. >> i think. >> that's really. >> interesting, jimmy. and i think that you

i wanted to work with the consultant with mckinsey, and i said, i want to go to goldman. i would now, and he wouldn't take me. alex would say, jim, you're not smart enough. and that's okay. that's okay. that's how good palantir is. that's how good. >> they when we. >> come. >> back this morning, a. >> ton of earnings to get to as well, including. results from. merck and pfizer. we'll get to. paypal pepsi, spotify, nxpi. >> estee lauder futures remain mixed. hear more squawk on the street straight ahead. >> it's not if the markets will turn. it's win at howard capital management, our proprietary family of. funds. actively navigates complex market landscapes while seeking to safeguard. >> your tomorrow. >> we aim to empower investors, delivering opportunities with a tactical mathematical approach. start investing with confidence today. contact your financial advisor and see how howard capital management can redefine your fund experience. >> i'm howie mandel. >> the newest ambassador. >> of skechers. >> funny story how i became an ambassador. i went to the store and i lied a

but the counterargument is that, you know, the government hires consultants all the time like a mckinsey in, which is also something. and elon's not getting paid for this. right? >> right. and i think you're hearing his supporters say, hey, he's the world's richest man. he's not doing this for money. he's doing this to help the taxpayer. that's kind of the back and forth on these arguments. but what is really unique here is that he's not the first ceo, the first businessman in the world, or the history of the us who wanted to be involved in government in some way. and we've seen it in the past. but what he has done, at least in these early weeks, has shown an effectiveness to get himself deep within the trenches in a way that we haven't really seen before. and that gets at the kind of close relationship he has with the president, and that his willingness to be out front fighting these dragons. >> is there any indication that his focus right now, which seems to be primarily on doge and washington, comes at the expense of tesla, or is there a is there leadership in place that it doesn't ma

mckinsey says it's about 1.2 billion a year. so not nothing, but not much.f the price, in fact, of trump's plan to exempt tips from income tax that he also talked about yesterday. this is still going to face a big fight, as andrew knows, and we've talked about a lot on this show. the american investment council, they represent private equity saying quote, we encourage the trump administration and congress to keep this sound tax policy in place that supports jobs, workers, small business and local communities. so any of those things, well, any of those things? well, they would argue that the private equity guys are incentivized through sweat equity. so therefore they're taking some risks with this capital and that it helps all the small businesses that they support by make better and then sell off. so that's what they argue. but this has been a pet cause of the democrats for 20 years about being a democrat or republican. and because i think you can talk to lots of people on both sides who would say it's obscene. and the reason i want to i just want to put it