michael: so nice to meet you, marcus. lemonis: nice to meet you. michael: michael woods. s: michael, do you dress like this every day? michael: every day. ramona: every day. lemonis: you look like a million bucks. michael: thank you. lemonis: so, tell me about ashtae. ramona: we are a multicultural hair-care company. we only sell directly to beauty salons. lemonis: okay. you're not in any retail? ramona: right. michael: we service salons door to door. lemonis: and when you say "door to door," go to a salon, meet somebody for the first time, shake their hand. michael: correct. lemonis: and what region do you do business in? michael: south carolina. that's where the bulk comes in. lemonis: if michael's going door to door, and that's how he's generating his revenue, it's kind of obvious to me why they haven't broken outside of the carolinas. door-to-door selling is wildly inefficient. taylore, what do you do here? taylore: a little bit of everything. lemonis: well, what is your actual job title? ramona: well, right now, taylore is a little in limbo. lemonis: what does that me

michael mckee is here with more beer michael: -- michael mckee is here with more. michael: we got mixed messages. song,b is seeing the old to you in september -- singing the old song. they did not know what was going to happen with the virus. here is what the minutes said. thets september meeting, governing council will be in a better position to reassess the monetary policy stance and policy tools. this would provide more clarity regarding medium-term inflation outlook and prospects for economic activity. they have had a sharp initial rebound because they controlled the virus and the economy came back and so some people going into the meeting felt they might not have to spend all of the 1.3 5 trillion euros they set aside to buy bonds. but some were saying, wait a minute, let's see what happens with the virus and with the economy and from the stories we have just seen, it appears they were right. the prospects for the economy have darkened and it will be interesting to see in september what they do. that is the opposite of the message we got got from the fed last n

michael, not michael. and second is magic jordan, his nickname magic, like magic johnson. until people saw that card, lite of people didn't know that in high school, michael'sickname was magic jordan. on the other side of the case, we were fortunate that michael let us go to his home in chicago and pick out several items to put here in the museum. whether it was nba all-star game trophies, mvp of the all-star game, national player awards he won here at north carolina. one of the items that gets a lot of mention is a recruiting letter that the coach at duke sent michael. it's one of the most talked about items because of the great respect michael has for him and the duke program has gone on to great heights as well. it's one oof those pieces that people come in and go why is there a letter from duke university and they see it's a letter from coach k. to michael about his recruitment. obviously michael is a great ambassador for the university of north carolina and one of the greatest players of all time, not just as a tar heel but in all of college basketball history and all of basketball history. basketball is important not just at unc, but in this state, in

free and they were not fair and this is why we do not recognize the results of east elections michael michael says all positions protest.

." ♪ today, we are very fortunate to have michael evans, who is the president of alibaba. welcome, michael. michaelyou, david. nice to be with you.

michael danahay. michael? where is michael. hi, michael. how are you doing, michael? >> [ inaudible ]. >> that's the mayor of sulfur. are you hit, would you say like this one, pretty much like this one? very close? how is it going? >> [ inaudible ]. >> good job. good luck. and the mayor of west lake, bob hardae. >> yes, sir. >> thank you, bob. how sit going? >> [ inaudible ] >> similar? >> [ inaudible ]. >> it is not going to be fast. [ inaudible ] >> well, you will all get it going. one thing i know about this state, they rebuild it fast. there is no problem. we will supply what we have to supply. you know what a lot of that is, it is called green. right? we will take care of cassidy and congressman ralph abraham, two great people, and bill's going through a problem and i hope -- ralph is fine, right? ralph is fine. bill is going through a problem but i spoke to him the other day and it sounds like he's doing well and along with john has been a terrific senator. so hurricane laura was a category 4 storm and was actually for a little while a 5, up to 175, almost 180 m

michael flynn will be reheard by the full us court of appeals for the dc circuit on tuesday. the battle of 10 judges will decide whether a federal district court judge must dismiss the charges against michael flynn as recommended by the justice department . here the case live tuesday at 9:30 eastern on c-span and c-span.org orlisten live with the free c-span radio app . up next, emily's list hosts a conversation on women in politics democratic presidential candidate joe biden and governor michelle grisham book at this forum which washeld by videoconference . >> happy 35th anniversary. >> happy 35th. >> what was i doing in 1985? i was just getting toward myself. it was the year i ran my first campaign and i wa

michael michael fauntroy in washington your early take on what you heard from joe biden. well i thought it was what a presidential nomination speech should be it gave a really broad overview of some of the things that he would like to do as president but as we've learned over the course at lest 8 to 10 presidential elections really being able to communicate certain characteristics like integrity decency empathy that kind of thing is is really important in the eyes of most voters and throughout the entire week resawing people speaking on joe biden's behalf that emphasize that and he drove that point home and so today just sort of discussing how he was raised and some of the trials and tribulations that he's overcome throughout his own life i thought he did a really good job connecting with that and i also think he did a really good job and not going to deeply into policy because i don't think that voters actually want that in this kind of speech what did you think of him not mentioning donald trump by name is very pointed yeah well it was a bit of a surprise quite frankly given what reseller yesterday with former president obama but in the end i don't think it matters very much people understood who he was talking about and who is running against and so you know president trying is who we all know him to be and it didn't really matter to me one way or the other people actually knew they'd be actually used present terms name i think we all understand it was talking about yeah ok to take a come back to you in texas you and i had a discussion earlier about the issue of rights and how it might play and how important it might be in the campaign i mentioned this to alan fischer before it was interesting that he invoked charlottesville the you not the right rally and he said that was that was my moment that's when i had to run. yes you know i think that what it was you know quite a few poignant moments in vice president biden's speech he started an opening speech with a quote by elevator of a very famous and or and black woman civil rights activists he said if you give people the light to paraphrase they will find a way he opened it speech that's what started it speech i think also the moment where he spoke about his conversation in this very private personal moment with george floyd's daughter is and what that minutes and then also reminded us of what has been happening in our country under the leadership of donald trump it's been hatred and divide and racism and he wanted us to he asked us to close our eyes and and to just take ourselves back to that horrific night in charlottesville i think all of america was probably just sitting there remembering those images of hate and he reminded us of what what donald trump said about those people that they were fine very funny people that he said i what vice president biden get is that he showed america that we have a choice now we have a choice in which direction we want to take this country and he reminded us that he is going to be a president for all of america i don't think that you know we can all agree on to say that the current president is one that heals that he represents all of america and so tonight you know vice president biden in my opinion he outlined a great plan and he touched hearts and souls and minds and he actually gave us hope he gave us inspiration i think that americans across the country are feeling the speech they feel heard they feel seen and i think that night a lot of americans saw who you know who this man is who he is as a father he is as a servant leader who he is as an imperative and i think that he connected with many americans and i just quickly to take a before i go back to michael did he miss anything i know it's only one speech we counted everything in one speech but was there any glaring omission along the way. i think he hit on the major points he needed to hear not he showed but start crying tracks between he and ice he and the current president i think also he spoke to all of the issues that americans are grappling with right now he spoke to his plan to get us out of this global pandemic that has just taking our country just to the right he talked about how he's going to invest in our country to get us back on our the economically he also talked about our standing in the rest of the world and and talked about his ability to to you know make america better standing with our citizens and our fellow countries in the world and i think he hit on a policy point but he also talked about the issues that americans are grappling with the issues of racism a shock to racism he was very bold on that and he also i believe was very bold in touching and reminding us who k

michael michael from public works is going to let us know if there are any speakers in public comment. for those of you not in the queue, press star-three to enter the queue, and for those of you already in the queue, wait until you receive a system prompt telling you that you have been unmuted. >> chair peskin: do we have any speakers? >> there are zero callers in queue. >> chair peskin: okay. seeing no members of the public for public comment, public comment is closed. and colleagues, if there is knox, i would like to make a motion to send this item to the full board of supervisors with recommendation as a committee report to be heard tomorrow, august 11. on that motion, madam clerk, a roll call, please. >> clerk: on that motion, as stated by chair peskin -- [roll call] >> clerk: you have three ayes. >> chair peskin: all right. next item, please. >> clerk: item 2 is an ordinance amending the planning code to reenact a provision permitting nonretail professional services above the fifrts sto first story in the chinatown community business district zoning control table, which was inadvertently deleted in recent enacted legislation. to enter t to -- >> chair peskin: thank you, miss major. as miss major just stated, this is indeed a technical correction to an item that was inadvertently deleted, and this will reinstate the nonretail professional services above the ground floor are permitted. mr. starr from the planning department, is there anything you would like to add to that nifty synopsis that i just gave, or ms. merloni, or anybody from planning. we're fixing a mistake. >> i believe that we are satisfied with your description, chair peskin. thank you. >> chair peskin: thank you, miss merloni. are there any questions or comments from members? seeing none, is there any public comment on item number 2? >> clerk: thank you, mr. ch r chair. michael is letting us know if there are any public callers. if you have not done so already, please press star-three to be entered into the queue. if you have not done so. please wait until you are unmuted to begin your comments. >> there appears to be no comments. >> chair peskin: thank you, michael. public comment is closed, and i would like to send this forward with a positive recommendation in due process to the full board. roll call on that item, please. >> clerk: on the motion as stated by chair peskin -- [roll call] >> clerk: you have three eyes. >> chair peskin: could you please read the next item. >> clerk: yes. item number three is a reenactment of emergency ordinance, ordinance number 84-20 to establish protections for occupants of residential hoteling during the covid-19 pandemic. members of the public who wish to provide public comment during this period should call 415-655-0001. enter the meeting i.d. and president pound, and pound again. to enter the queue, press star-three or

michael michael from public works is going to let us know if there are any speakers in public comment. for those of you not in the queue, press star-three to enter the queue, and for those of you already in the queue, wait until you receive a system prompt telling you that you have been unmuted. >> chair peskin: do we have any speakers? >> there are zero callers in queue. >> chair peskin: okay. seeing no members of the public for public comment, public comment is closed. and colleagues, if there is knox, i would like to make a motion to send this item to the full board of supervisors with recommendation as a committee report to be heard tomorrow, august 11. on that motion, madam clerk, a roll call, please. >> clerk: on that motion, as stated by chair peskin -- [roll call] >> clerk: you have three ayes. >> chair peskin: all right. next item, please. >> clerk: item 2 is an ordinance amending the planning code to reenact a provision permitting nonretail professional services above the fifrts sto first story in the chinatown community business district zoning control table, which was inadvertently deleted in recent enacted legislation. to enter t to -- >> chair peskin: thank you, miss major. as miss major just stated, this is indeed a technical correction to an item that was inadvertently deleted, and this will reinstate the nonretail professional services above the ground floor are permitted. mr. starr from the planning department, is there anything you would like to add to that nifty synopsis that i just gave, or ms. merloni, or anybody from planning. we're fixing a mistake. >> i believe that we are satisfied with your description, chair peskin. thank you. >> chair peskin: thank you, miss merloni. are there any questions or comments from members? seeing none, is there any public comment on item number 2? >> clerk: thank you, mr. ch r chair. michael is letting us know if there are any public callers. if you have not done so already, please press star-three to be entered into the queue. if you have not done so. please wait until you are unmuted to begin your comments. >> there appears to be no comments. >> chair peskin: thank you, michael. public comment is closed, and i would like to send this forward with a positive recommendation in due process to the full board. roll call on that item, please. >> clerk: on the motion as stated by chair peskin -- [roll call] >> clerk: you have three eyes. >> chair peskin: could you please read the next item. >> clerk: yes. item number three is a reenactment of emergency ordinance, ordinance number 84-20 to establish protections for occupants of residential hoteling during the covid-19 pandemic. members of the public who wish to provide public comment during this period should call 415-655-0001. enter the meeting i.d. and president pound, and pound again. to enter the queue, press star-three or

michael mckee, great to see you. just about positive on the s&p 500. joining us now is michael gapen. great to catch up with you. are we still working our way through these mechanical distortions coming from shutdown to reopen? michael are. i think that is a little in the rearview mirror now. michael mckee's point at the end is what was important. the downside in july likely related to the upward revisions in june. on net, my guess is when we look at the data, the level of retail sales in july will be about where we were expecting. things have slowed. in my view, that was to be expected. two months ago, we had an 18% rise in retail sales. about 8% last month. now it is somewhere between 1% and 2% this month. i think that is consistent with the initial snapback an ongoing recovery. on in thee lights are economy back open is fading out of the data. i think the july data in total suggests the economy still has momentum. the question is whether we will to carry itmomentum through september and october. lisa: do you have a sense of how much the spending has been driven or supported by the fiscal support we have seen so far? michael: i think the government transfer payments have been crucial in underpinning this virtuous

michael mckee joins us. michael: i will not characterize either

michael. michael, want to start with you. so, again, hillary clinton, former secretary of state, not necessarily being direct about who she wants to be the vp pick. you actually compared and rated a couple of these contenders and there are a lot of them. so what are you hearing? >> well, from the reports that we're hearing, it's he's basically not narrowed it down to susan rice and kamala harris. and if that is true, supposedly from the insiders in the biden camp, it is nearly unanimously that those are the two finalists and if that is true, then i don't see how he chooses anyone else but kamala harris because you have susan rice who's never really been tested in front of an electorate and i don't know how you can say someone is ready to step in as president if they've never had any legisla legislative or executive experience. >> brought up the idea of michigan governor, but i wanted to speak to maxine waters about this, but we had technical difficulties with her, but she had mentioned at an essence event that she feels as if vice president biden needs to walk w away with a black female running mate. do you think he's feeling that pressure, that he needs to choose a black female running mate? >> well, i think that what's important is actually the, what michaeln reporting and we've certainly heard this you know through other outlets as well, which is that the two people in consideration are black women. it doesn't seem to me, it seems to be kind of a a forgone conclusion that that is going to be the case any way. i think that again, we've had you know, there's, there are any number of reasons why black women should be considered and highly considered in this process. not the least of which is because we see a whole slate of incredibly qualified women who have been leading in this country in various roles just an incredibly deep bench of black women who could not only be vice president, but who are, you know, qualified to be president. and so, he has an incredible you know slate of women to choose from and it just seems to me at this point, it's a little bit of a forgone conclusion. >> so, you're involved adrian in grass roots mobile lizing of bl voters and we know this election is going to come down to turnout especially of the black communi

michael flynn before judge sullivan passes his sentence? guest: yes. president trump pardon michael flynn anytime. as we saw with roger stone, it seems most likely what the president wants to do politically is wait as long as he has to, before extending that political capital, because if he grants a pardon of michaellynn, there will be those who cry out and say this is political cronyism. what he could do is wait until the day that michael flynn has to report to prison, and then give him a pardon, and that could be months from now. it could even be after the election. on november 4, if president trump wins or loses, he has the power to pardon all the way through the end of his term. host: just a few minutes left, but stick on the lines if you don't get through. we will be joined by former u.s. attorney brett tolman, next to dicken -- to continue discussions on this topic. this is tony, out of fort lauderdale. independent. caller: good morning. i just want to take three different facts. i want to correct the record. michael flynn was not charged with perjury. please stop saying about his perjury trial. he was not charged with perjury. i also want to address this guest's comment that he is facing serious charges, and yet he was facing no jail time. the plea-bargain had gone -- had gotten rid of the

michaels, the two men prosecutors say actually carried out the attack on nancy? in 2015, billy earl's nephews michael speck turned on his former cell mate michael lawrence. was convicted of aggravated assault with a deadly weapon, and sentenced to 60 years in prison. he appealed and in 2017 a texas court overturned his conviction on the grounds that evidence introduced relating to the overall murder for hire scheme was misleading and unfairly prejudicial. lawrence was retried, and this time a jury found him not guilty. but lawrence isn't off the hook yet. the district attorney has decided to prosecute him for conspiracy to commit murder in the nancy howard case. he has pleaded not guilty. as for the money frank howard used to finance the murder plot and support his lavish life-style, turns out it was stolen from that wealthy defense contractor frank once worked for. >>> some people might have a hard time wrapping their head around the fact he was so haphazardly giving out money. >> yes. >> just freely giving it out. >> freely giving it out. the only way i can explain that is when you don't earn the money, when it's not from your hard work and efforts, it

happening in this market at this very moment, shorter term stuff versus long term, michael lee strategies, michael lee. michaelly absolutely phenomenal what's happening with this market right now, particularly the hot areas. i know you've got a four pillar system but these new names that are popping up that people have never heard of before, how do you find them and are you buying some of these things? >> look, charles, i don't get too far in the weeds. i'm looking at the bigger names. it seems to be where the money is flowing. there was a great article about small cap names where if they're not included in any sort of small cap etf, they trade at like a third of the multiple as their competitors so you know, the russell or wilshire5000 is only 35 stocks. i like to stick to the tried and true. but some of the unloved names haven't really run with the market, particularly at & t. i think that dividend is safe. i think they are much more likely to have asset divestitures instead of dividend cuts. those that don't want to buy the expensive market that are kind of afraid of where to go, you can just buy some at &

michael: robert kaplan, the president of the dallas fed, thank you very much for joining us. [laughter] tom: you see how he answered that? he answered that ik press conference -- that like a press conference. michael: you don't mess with the all, tom. tom: michael mckee, congratulations around the bullard and kaplan conversations. rnc, on then the president of the united states, rick davis, stonecourt capital partner. this is bloomberg. ritika: with the first word news, i'm ritika gupta. the longest serving prime minister and japan's history is resigning. shinzo abe is stepping down for health reasons. the government has provided few details, but reports say he has been undergoing treatment for a chronic digestive condition. he plans to stay on the job until the ruling party picks a successor. hurricane laura left chemical fires, wrecked buildings, and flooded roads in its wake in louisiana. there could be more than $15 billion in insured losses. the hurricane has now been downgraded to a tropical depression, and moved through arkansas overnight. coca-cola will offer employee buyouts as part of a strategic reorganization area the program will be first offered to about 4000 employees in the u.s., canada, and puerto rico, and there will be an uns

michael flynn? it's been a long, strange saga, so let me catch you up. jim? >> previously on "michael flynn" >> michael flynn resigning after the sortest tenure ever in that post >> retired general michael flynn pleaded guilty today to lying to the f.b.i. >> flynn's attorneys tonight filing a motion to withdraw his guilty plea >> the other side of the michael flynn story today are the actions from judge emmet sullivan who is attempting to proceed with possible prosecution. >> you never go near my husband. do you ( bleep ) understand that? don't you ever go after my ( bleep ) husband. >> and now, tonight's episode of "michael flynn." >> stephen: welcome to "michael flynn," where, just like every other prestige drama these days, we're not afraid to kill off beloved characters-- because in tonight's episode, we're bumping off lady justice. this morning, a federal appeals court ordered the judge to dismiss the criminal case against michael flynn. well i'm sure he's learned his lesson: that rich, well- connected people don't have to learn lessons. the order to dismiss the case without review is called a "wr

michael: hey. how you doing? michael: good. how are you? lemonis: i'm marcus. michael: marcus, i'm mike. nice to meet you. s: mike? nice to meet you. what do you do here? michael: i'm just helping my cousin rachel out. lemonis: oh, very cool. michael: just giving her some advice on some financial stuff. lemonis: how you doing, sir? i'm marcus. david: hello. nice to meet you. lemonis: nice to meet you. what do you do here? david: i handle the sales and marketing for the company. lemonis: okay. how many different varieties are there? david: we've got nine traditional varieties and five gluten-free, vegan varieties. lemonis: okay. rachel: hi. lemonis: how are you? i'm marcus. rachel: good! i'm so happy to see you. lemonis: nice to meet you. now, is this the assortment? rachel: yes. our top seller is chocolate chip. have you tried the cookies? lemonis: i haven't. rachel: oh. lemonis: i love that they're crunchy. rachel: yeah, it's a crunchy -- so it's a six-month shelf life. lemonis: okay. rachel: but this is our snickerdoodle. lemonis: that one's good. rachel: yeah. do you like double chocolate? do you like p

the secretary of defense the one and only michael maloof michael we haven't had john in forever thank you for coming on today. my pleasure thanks for. so michael bottom line is there any real world military justification for putting billions into the f. 35 an arm spending into a covert 19 recovery bill. oh absolutely not in fact i'm shocked that. even the senate republicans would even buy into that simply because. they made a very strong point that they want to strictly for stimulus to put people back to work there's no place for this kind of stimulus package for the military at this point. in the stimulus package there the the congress passed a $740000000000.00. defense budget already and they and they can always add supplements later but keep the divorce from this is just a mess he's the priorities and it really shows that the trump administration's priorities including the defense department is very very skewed. and we're seeing a lot of our congress people actually shout out what they think is wasteful spending from the pentagon right now and not presley just hash tag yesterday defund the pentagon domestically what could the pentagon be do

michael. hurricane michael wade landfall in the for the panhandle near panama city in 2018, not necessarily the exact strength of hurricane michael but the way hurricane laura ramped up beginning late last night all the way through yesterday into this morning all the way to landfall reminds me almost exactly like hurricane michael in 2018. jillian: you've been doing this for ten years, thank you for joining us, stay safe and keep us updated. >> have a wonderful morning. todd: this other news. fox news alert breaking overnight, tick-tock ceo kevin mayer stepping down after donald trump signed an executive order to been the apps in the us, the mayor writing to employees, quote, in recent weeks as the political environment is changed i have done significant reflection on the changes required and what it means to the global role i signed up for. against this backdrop i have decided to leave the company. 's resignation comes days after tick-tock sued the trump administration over that executive order. he was ceo for less than three months. jillian: demonstrations remain peaceful in kenosha, wisconsin following days of arrests. >> a te

michael in massachusetts. michael. >> boo-ya, big jim >> yo-yo >> my question is about ge one thing that i'm nervous about, i don't think they have a strong balance sheet i know they're heavy on airplanes and cars jim, do you think this is a good investment or not? >> okay. robin hood likes this in 6 plus 6 equals 6 they are selling some stock which i don't like to see because nelson's brilliant it's a wait till next year situation. when i got stocks you don't need to wait for, stocks like dupont, stocks like 3m, they're ready to roll and those are better than general electric how about we go down to david in louisiana. david. >> boo-ya! first-time caller. love the show. >> you're from boo-ya country. >> yes, sir. i bought some dividends but i expected more growth during the pandemic of the price of stock even near the year-to-date should i buy more? >> you can hold it don't buy more remember, if we suddenly think that a vaccine is within the horizon, that stock's going to slow down. kimberly-clark has never been in its lifetime a stock that goes up like other stocks hold onto it maybe i hurt his feelings. i don't remember doing so. all right. i got touchstone stocks to give us an idea of where they're going. they all ran in honor of the nfl a go pattern on "mad money" tonight. we got beyond beat they topped earning expectations but the stock dropped. what the heck was that about i'm going to sit down with the ceo. then the buyers and sellers are at it again. i will point out where they will tilted incorrectly looking for a link between xlnx and your portfolio >> don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer #mattweets. send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. what happens when a wireless carrier puts its customers in charge? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. ♪ >>> all right, what happened to the stock of beyond meat the previously red hot company announced they were far from thrilled their stock plunged 7% in response the sellers are not always right. i thought the numbers looked pretty solid management didn't reinstate the full-year forecast and part because the company's losing money. mainly though i think beyond meat stock came in too hot in the quarter. a week ago it was trading at 126. yesterday it closed at 142 all right. i am not worried we know the company's losing money because they're thinking much bigger than most companies do that i talk to. and that includes some price cuts to win over regular meat eaters what matters is they had 69% revenue growth that's a sign of very strong demand and of course it's a tech company that sells food. do not take it from me let's drill down with one of my favs, the founder and ceo of beyond meat, get a clear picture of the quarter and its plans for the future mr. brown, welcome back to "mad money. >> thank you so much for having me, jim. i appreciate it. it's always a pleasure so, ethan, you're in front of me i'm going to talk about the super market in the second but it's something i am very excited about. i happy to be a big kfc devotee. i get, eat the chicken, i don't know what it does for me how did you come up with something that is as delicious as this? >> oh, it's been great it's been a labor of love. we work on chicken now for over a decade and we're really fortunate to get engaged with kfc and their leadership team to create something that was truly special that took the best of what we could do which is create that fibrous texture of muscle or meat but do it from plants and all natural ingredients and combine that with their terrific seasoning and presentation so it's been a homerun here at l.a. we're supposed to be on market for a month but ran out in two weeks and i probably was a pretty big part of that it was a great product >> a lot of people got caught up in the mcdonald's trial. mcdonald's, a different company from this. they are run by franchises but much more essentially located with the idea that if it's a test, they will blow it out. and i think that this is such a great product that this may be the next leg of the stool. and it really is borne out by how quickly you did sell out, which isn't a highly unusual thing for a fast food company. >> we're doing great in these relations we have with the qsrs whether it's hardee's or carls junior they are all coming out with new products during the pandemic they are allowing us to drive traffic not only here in the united states but also in china lost 3,000 stores. so, the world continues to move forward. we're going to get out of this pandemic we're going to be stronger than ever and we're really excited about our future >> all right now i felt it was important to bring that up because of how good it tastes you were on last time. and you said you had to pivot. you had a once-in-a-lifetime opportunity because of all the problems of tyson. tyson meaning people having covid, factories, i don't want to eat that food, it's covered with covid i know it really wasn't but that was the perception of america. you said i got to get out of the food service, get into the super market and cut my prices, won't make as much money as i'd like because the closer i get to the price of meat, the more share i've taken how has it worked? >> so it's been remarkable, jim. and i want to make sure i'm heard by the employees that made this happen. we have hundreds of men and weap women that put on masks and did other precautions and came into work every day and was at 50/50 retail and food service. today we stand at 88% retail and 12% food service we're not a digital company. we had to move physical assets to make that happen. so we're moving pieces of equipment. we're taking food out of boxes that has been prepared for food service and putting them into retail packaging these men and women about that day after day and it drove record sales we had our first quarter of over $113 million in sales in net revenue. if you look at the trends that were occurring in retail, they were absolutely remarkable our household penetration grew 40% from january up until today. that's a remarkable increase you look at the buyer rate for households not only are more households coming into the brand but they're also now spending more per household. repeat rates are up 50%. velocity, 88%. listen to this number. globally our foods a, our net revenue grew 192% in retail. this during a pandemic we're now 112,000 locations worldwide. so we are chomping at the bit to come out of this part of the downturn associated with the pandemic and come out really strong with a widened retail baseand a food service sector that's ready to jump on our products it's an exciting time here at beyond beat. >> ethan, i share his mission. but you have to understand he's coming in cold, heart, empirical facts. when you talk about repeat spending, we talk about spending per household, those are the holy grail that's the trinity you have to have the trinity if you're just a plain numbers guy. and he's more than a numbers guy. and one of the reasons why he has it is because he comes up with things like the cookout classic value pack, which, to me, took the food service -- it took grocery stores by storm >> it's been a remarkable product for us so this was something that i've been really interested in doing for a long time. as you know, about 18 months ago we set a goal to give underpriced animal protein within five years. and to see the beef prices go in the direction they were going and not do anything, i felt would not be responsible we said how do we create a cost structure within a quarter that allows us to go from roughly a 2x premium on the price of conventional beef patties to being at a 20% premium and we were able to accomplish that through these value packs we only got them out at the last three weeks of the quarter but the results have been fantastic. we're actually now able to contribute about 16% of our volume growth in retail to these value packs. they are selling anywhere from whole foods through to target and others we were able to get these to the consumer at prices that they are able to afford and get more and more healthy plant-based meat on their plates so it was a big win for us you're going to continue to see us be very aggressive in pricing. are consumers interested in continuing to consume meat but consume that meat from plants? the second question is are you willing to pay more for that product? i'd rather get away from that question and deliver these products at the price that's equal to protein and ultimately below. because we look at our production process we are able to produce at an expense structure that is lower than that of animal protein. we just need to get to scale >> i know there are two machines that don't make good protein and those are cows and chickens. and the ones that make good protein, you're looking at him, ethan brown, ceo of beyond meat. a company that i am proud to have championed now for 100 points and there's much more to come "mad money's" back after the break. ♪ the covid-19 pandemic is creating food insecurity on a scale not seen in decades. an estimated 54 million americans will struggle with hunger. ♪ with 200 food banks and 60,000 meal programs, feeding america is the largest hunger-relief organization in the country. join morgan stanley in supporting feeding america and your local community food bank. ♪ ♪ >>> a lot of people in this business are very, very smart. but as i said at the top of the show, the stock market's also full of idiots don't get me wrong i've made my share of stupid calls. you can probably catalog them all tonight in twitter and have some good times. but there's a difference between garden variety mistakes and just appalling errors of judgment every earnings season we get an extra help of stupidity. tonight i want to go through some of the more egregious let's start with wendy's i like wendy's, not just because my wife can put away a double baconator quicker than anyone or that i am salivating over the new spicy chicken sandwich more than this stuff, though, i like wendy's for consistency during the pandemic. when the stock fell to $7, i was appalled and i told you to buy because if any quick serve chain could bounce back, it would be this one and almost obligatory selloff every single time in the wake of good news. today wendy's reported again and we saw the same moronic pattern. very high single digit seems to our sales, 9%, it was spectacular. the idea that the stock plunged nearly 6% is down right appalling. but to power phrase, nobody ever went broke underestimating the intelligence of the sellers who dumped wendy's every time it reports a great number buy it or how about regeneron the stock was down 3.7% today. not to mention the possible success from lintia. there was a lot to like. best of all though regeneron is working on an antibody cocktail that could play a role as a rapid first-line defense against covid especially for people who can't, for whatever reason, take the vaccine. and the elderly and the immunocompromised. when i pound the table about don't bet against america and its scientists, i'm talking about regeneron and its cocktail finally these two. i get it, livango and teledoc. teledoc is the de facto king of telemedicine it now has 70 million users. livongo is for people with chronic conditions, especially diabetes that's why the stock's up more than 400% for the year there's only 25% overlap between these two countries. i think the merger is brilliant. these are two great tastes that taste great together once the deal closes, it will become a mutual fund for health care it's a winner no matter who wins in november. i don't want to punch down but if you sold wendy's, regeneron or teladoc today, i think you made a huge mistake. that's as diplomatic as i can be about this ridiculous action stuff like this makes me punt for the yield. alex in florida, alex? >> hey, jim, boo-ya. >> so i bought a bunch of royal caribbean in march and it worked out pretty well so far i'm down in miami beach right now staring at the cruiselines cruise companies are voluntary suspending cruise operations till halloween they still finished up for the day. and i know it's well established as stocks go up. should i take my - >> the reason why i favor norwegian, had the fewest covid incidences and most posimportantly has the most cash per so he can last the longest and that's the one that i favor. disney is a big cruise business and disney's doing well without it how about we go to tim in new york tim? >> hey, jim. big brooklyn boo-ya to you go birds >> i was in brooklyn last night. it's looked better and go birds what's up? >> hey, i've got a name for you in the cloud communications space, a space that, as you know, has been on fire with names like twilio and ring central thanks to strong recurring revenue growth and around work from home and digitization there's one company in the group that seems that it may be a bit misunderstood and despite growing revenue at 25% year over year still trades at a fraction. that company is 8 by 8 ticker egh. >> man, i have not looked at 8 by 8 in ages pbx has changed. i have not done enough work. i will come back we got a lot of homework we got to cover we've been getting a lot of guests i don't like to sleep tuesdays anyway, there are a lot of smart people in this business. there are also a lot of well, i don't know, what you say, idiots there's much more "mad money" including my interview with xilinx the stock reported a remarkable quarter. but it took a tumble in china. i'm going to go to the ceo and he's one of the most forward-thinking executives in the energy patch do not miss my sit-down with sempra energy. and "the lightning round." so stay with cramer. t-mobile and sprint have merged. now that sprint is a part of t-mobile, we have more towers, more engineers, and more coverage than ever before. and now you can get an awesome network at an amazing price. get four lines of unlimited for just $25 bucks a line with 5g access included. that's right. unlimited and nationwide 5g for just $25 dollars per line only at t-mobile. >>> you might've missed it boy, has it been loud. but a week ago we got a fabulous quarter from xilinx. that's a semiconductor company which makes programmable logic devices. they are flexible tips that can be customized to each customer however, there was only one fly in the ointment that sent the stock tumbling the next day. see, xilinx delivered a robust revenue beat even though they had already preannounced strong sales numbers. the data center sales were up 10% versus the previous quarter. and 104% year over year. up 27% versus the previous year. xilinx gave us a terrific forecast for next quarter. so what's the prosecublem china. recent additional u.s. government trade restrictions on sales of certain xilinx products some customers were with operations that scared people made it sound like a lot of this was just chinese customers rushing to get orders ahead of its new restrictions so exactly how should we really be worried at all? let's go straight to the source. the president and ceo of xilinx. welcome to "mad money" >> thanks, jim great to be here thanks for having me >> you know i've always loved the mosaic of your business because i like industrial and i like wireless. i like telecommunications. but there is this chinese narrative. you've always done great business in china. there are some rules that made it so that some companies might've ordered ahead but is it really -- should it really be the focus if we're thinking about xilinx out two, three years? >> no, absolutely not. we really kind of quantify that as low tens of millions. our first half is very strong, stronger than expected even with head winds of covid-19 and some of these trade restrictions i think that's really the key thing. and it's proof that we have a very uniquely resilient business with our core markets. you mentioned some of them but we have industrial, we have automotive we have aerospace and defense. we have test measurement, broadcast and consumer we have a very robust foundational market. on top of that the exposure to growth markets like you mentioned data center, 5g and auto is also being disrupted so that's a great growth driver. i think that should've been the focus and the takeaway we feel very good about the half, not just about what's happening in one particular quarter and government restrictions >> totally agree one of the reasons i have you on is it fits with my thesis that you have to now push a little further toward industrial turn because one day we're going to beat the pandemic. and if you're only in the most high-quality wirily chips for handsets, you're going to miss the big move that xilinx will give you you have always kept your lead in defense that's still the case, right >> yeah. that's strong business for us. that's one segment that's not really affected by some of these other issues that's a very solid business for us >> and how about this on live video streaming which i like you're talking about with all of the things that we want to get like whether it be twitch or facebook, instagram, youtube you've now got a very good offer for that segment >> yeah. that's a great point everything we are doing is from home people are binge watching or gaming, trading. that's all creating a tremendous amount of traffic. we just recently announced together with hpe we developed two appliances, realtime streaming video appliances really high quality video that delivers at really cost-effectiveness 5x throughput performance per node at one-sixth of the cost and one-third of the power compared to an x86 base system so that's the kind of tco savings that you can get with this then we have the one that's targeted for the volume market what you're looking for is the lowest cost per video and the most density so we deliver 4x throughput at one-sixth of the cost and one-sixth the power. tremendous interest in that. we launched that together with hpe. i think you can all relate to why streaming's really important right now. >> as you listen, you recognize this is a very different narrative from what we talked to a company that makes parts for a large company that we all love, apple. this is a company that has what i now regard as being a complete ecosystem. maybe a growing ecosystem. because i know you want to do so much more. you've become the platform that really doesn't exist in the industry anymore is that the ultimate goal just to be the ecosystem that is xilinx >> yeah. that's a really great point. one of the aspects of our new strategy is to transformfrom really being a good really high-margin component company but really a platform company because that's the way we can deliver more value to our customers. there's more people developing for that they can really leverage the power of that adaptability the flexibility. so optimize for different workloads. the workloads that's driving computing of the future this new era of computing is not going to be the same kind of workloads kind of commercial industrial applications in the past and our adaptability enables people to differentiate, get to market quickly and developing that platform's really critical. we are investing not only in advanced silicon but it, ip, and we're delivering these hardware platforms like acceleration cards and like this video appliance we just discussed. >> i don't want to leave that to go full circle here. your business in china really is great. and your 5g exposure is really second to none so it's not like you're trying to be worried about that during some sort of political stalemate. >> yeah. you know, again, it's an issue and it gets so much air play and i think sometimes it takes away from the fact that we're in the very early phases of 5g. and 5g is going to be a very big opportunity for 5g we feel like it's factors are bigger than the 4g generation. and we're just in the first wave of equipment the customers we talked to is that we have three generations of equipment because that's how complex and ambitious 5g as a standard is. what's being deployed is only the first generation and the second generation is in development in different stages with different customers we announced that together with samsung. they're using our absolutely latest technology. product for 5g, the next generation radio we've got this innovative product called rfoc. and still no one has anything like it in terms of the cost savings, the power savings, the forefactor savings it's great for multiand macro as well as macro cells and we're also working very closely with our key customers we're doing optimized solutions. customize our silicon and our ip and our software to deliver to their needs. >> this is the cheapest i've seen the stock because of that one issue which i am telling you is not as important of where you should be pivoting to now that the economy has a chance to be growing in the second half as the vaccines take hold. victor peng, president and ceo of xilinx, great to see you, sir. >> great to be on the air, jim thanks very much take care. >>> this used to be among the most expensive of semiconductors is now one of the cheapest, and for a reason that i don't think holds up under close scrutiny. "mad money's" back after the break. >>> it is time "the lightning round." ♪ and then "the lightning round" is over. are you ready? we're going to start with barbara in massachusetts barbara? >> hi, jim >> hi, barb. >> i'm a big fan of yours. thank you for taking my call >> oh, you're welcome. >> and i'm very excited to tap into your 25 years of accumulated market wisdom. >> thank you >> my stock is therapeutics. i bought it about a year ago at 95 it closed at 158 do you think i should hold it? >> it has very proprietary -- it's got great scientists. i really think you should own it i prefer vertex by the way but i think you got a good one let's go to jack in new jersey jack >> hey, jim, what's going on >> what's up >> i want to know what you think of holdings -- >> they like sienna. this group has always hurt me when it's gotten this hot so i want to be careful let's go to michael michael. >> boo-ya, cramer. 28-year-old investor want to give a shout out to my pops who pushed me to start investing in my early 20s. you covered this ipo about a month ago. i currently hold a small position in the company. the company is, is set to report earnings next week do i buy, sell, or hold? >> you want to hold this one it's coming in nicely. yield 17 times earnings. i like it. let's go to tyler in california. tyler? >> boo in, boo-ya, jc! everyone is so awesome, so friendly >> you can't work on the team without that you're going to leave the team if you don't have it what's up? >> amen. hey, we got a whole lot of hungry robin hood investors including myselves licking their chops over this one. the news that came out for the push for 25 billion in federal aid for the airline industry would you say that it's time to buckle up and for american airlines might be taking off soon >> i agree with that i like america i'm a big southwest fan. but i saw american break through that 12

michael? >> well michael is very low-key, very kind, very sensitive. >> sounds like you approved of michael a lot more than bob? >> oh, absolutely. yes. i mean, michael is 20 years younger than bob. much more handsome, much more intelligent, much more successful, much more accomplished and much wealthier. what's not to like? >> and yet, anna and michael did not get along perfectly, did they? >> oh no, there was lots of -- of squabbling. >> reporter: it was dawning on anna's friends how little they really knew about this enigmatic russian woman. >> in this picture it's me and anna. jayshree today, treasures the gifts anna gave her. like this matroyshka, the famous russian nesting doll. but she also wonders. >> explain to me how you were among her closest friends. >> uh-huh. >> you called her your soul sister. >> i did. and she was. >> and yet there was so much of her life that she didn't tell you anything about. >> yes. >> she never told you. >> no, no. she was very good at dodging things. >> reporter: that was dawning on investigators too. >> when did it become clear to you, that anna moses ha

michael: i think if you said that down in texas, you would get thrown out of the saloon. tom: that's happened. [laughter] lisa: nice moving on from that. michael: lisa, you can ask him about that later. lisa: oh, i will. michaels an interesting country here because we are so big and we have so many different economies that you can't really ascribe japanification or any kind of adjective to the whole country itself. texas prides themselves on a lack of regulation and on low taxes, and they feel that has created a strong business at the sphere -- strong business atmosphere. tom: i talked to the economist roman mackiewicz this morning, and he went right to the heart of the matter. we are not europe. the reason powell acted is the money market fund structure we have, and they simply can't under any circumstances go to negative interest rates because of the financial system. we just can't do negative interest rates. michael: pretty much. that's one of the major problems. the fed doesn't like to talk about it, but a lot of money market funds have eliminated fees because they can't make any money right now with rates so low. you're not getting any return, so to keep their customers, they are getting rid of fees, and

in your category was michael douglas, and your mother was rooting for michael douglas? >> the thing, like egyptians love michael that's not out there about us. big, big michael douglas fan, and she's like, he has more movies than you. and i tried to tell her, that's not how they do it, it's about this year, these shows. she kind of thought that was what was going to happen. she was very happy. >> rob: it's funny, i went to egypt briefly, and every night they piped in the theme from "romancing the stone." so that makes perfect since. >> classic tradition. >> rob: who is she rooting for this year? is she actually going for you. >> she's going for me all the way. i talked to my aunt in egypt. all of egypt is praying for the emmy. the whole country. >> rob: that's a lot of prayer. >> i'm sure eugene levy has some people in canada. but egypt prayers, i'm going to take them over canadian prayers, that's my gamble. >> rob: in all seriousness, my son a young writer and actor. it's guys like you that i point him towards as great role models. i really mean this. for anybody who wants to be an actor or whatever. you make

michael penn is covering this story and michael just gave a press conference in which he confirmed his resignation why exactly is he stepping down well. the reason which seems to have triggered it at this moment is his health problem which is all sorts of collided. it was it was that reason that that made him step down in in 2007 at the end of his 1st premiership which only last near and it appears to be that he is receiving a relapse it may also be rather stress related i mean he's he's not had a very good year and in fact for several years he's been fighting off various scandals so you know it could be that he got to the point where the stress began to get to him and his health condition deteriorated. is it clear yet who will succeed shinzo as prime minister of japan. it is not it's going to be a real contest a real election because there are a number of of ambitious politicians who are likely to throw their hat in the ring and it it will be a contest we know who some of them are i think the sort of the the flag the standard bearer for the anthony abbate wing is she giving the shiba. former foreign minister has already indicated that he will be running the chief cabinet secretary yoshida suga is expected to be a likely candidate and there are several others so it could be quite quite an interesting election. she of course is japan's longest serving prime minister he just reached that landmark a few days ago what sort of mark has he made on the country. well it's very interesting those who are the big fans of all day and those who have greatly feared and detested him for all of these years. in some ways we're both wrong to some extent because it looks like his legacy is going to be much less than expected you know despite having such a long premiership many of the things which he did get done. the achievements that he did have have mostly unraveled during this 2020 year with the with the covert $1000.00 pandemic and the and the economic crisis so he gave a stable period in japanese the rule of government after many prime ministers who wait for one year and out and strengthen the central government but beyond that you may have very few serious legacies going forward michael thank you very much that was journalist michael penn in tokyo. now to the u.s. where donald trump has accepted the republican party's nomination for kate the presidency yet his acceptance brought the party's 4 day convention to a close and came amid simmering tension over police shootings and racism this week the republicans have pitched themselves as the party of law and order a point that drove home repeatedly in his address this election will decide whether we save the american dream or whether we allow a socialist agenda to demolish our cherished destiny. thank you it will decide whether we rapidly create millions of high paying jobs or whether we crush our industries and said millions of these jobs overseas as has foolishly been done for many decades your vote will decide whether we protect law abiding americans or whether we give free rein. to violent and our kids and agitators and criminals who threaten our citizens. and this election will decide whether we will defend the amer

michael scott. hey, michael. regional manager. hi, michael. nice to meet you. excited to talk ideas. us too, man. want it to be fast, quick cuts, you know? youthful, sort of a mtv on crack kind of thing. that sounds great. all right, good. well, this is what we have to work with. i would like you to meet andrew bernard. the 'nard dog. who let the 'nard dog out? hoo hoo hoo-hoo! he gives the best back rubs in the office. (andrew) that's true. i give a mean back rub. i also do good aromatherapy. [makes raspberry] not! you just got 'nard dogged! now this gentleman right here

michael cohen, that sent michael cohen to prison. the federal prosecutor's presentation of the michael cohen case said that the crimes michael cohen committed were committed at the direction of donald trump. that means that those federal prosecutors believe that donald trump is as criminally guilty of those crimes as michael cohen admitted to being. and the only thing -- the only thing preventing donald trump from being prosecuted by those federal prosecutors is donald trump's current address, the white house. it is a tradition in the justice department that the president should not be prosecuted for federal crimes. that concept is not supported by law or the constitution. it is a relatively recent tradition only supported only by a memo of no legal binding authority written by lawyers working in the justice department during the administrations of presidents who did not want to be prosecuted for federal crimes. donald trump knows that if joe biden and kamala harris take the oath of office as president and vice president of the united states on january 20th, donald trump could be charged with federal crimes that same afternoon by the same p

you can do that when you have michael mckee michael mckee joining us on claims at the bottom of the hourin one hour, i should say. greats a really indecision about where we are heading on inflation, and particularly on the general economy. kathy jones has the great joy of working with liz ann sonders at charles schwab, arguably the best flow team on the street. schwab sees the flow of money like nobody. what are you seeing right now among schwab clients? are they in the markets? kathy: absolutely. i think our clients have learned the lesson of hanging in there after the ups and downs of the market. there's a lot of different clients, so each has a different kind of view, but in general, our clients have stayed in. we didn't see a big exit us -- we didn't see a big exodus. tom: what is your general yield prediction, given the worries this morning over future aggregate demand? kathy: we've been saying since the beginning of the year, actually since the pandemic hit, that we copy 10-year yield would stay in that 50 to 100 basis point range this year. we are looking for continued improvement

we are just going to enjoy some time with michael and openly get pam on the line as well. please welcome michael long. michael is editor of multiple books and one of my favorites, a really important collective works of byron ruston. i want to just go ahead and get on, michael. so if folks will switch their view from gallery to speaker view when michael starts talking he will be on speaker view and he will take up the screen. please welcome michael long. >> thanks, e. r. it's good to be with you all. can you hear me okay, e. r.? >> you sound great. >> great. i scheduled the format to be with pam in dialogue. we will move along elegantly as it possibly can. e. r. suggested i'd begin with a bit of a bring it with his days in atlanta. by the way i lived in a letter for several years. i graduated from emory university and i love the city. i didn't know julian bond. i see pam has joined us. it's good to see you. >> welcome aboard. how do we do this? is there a split screen or is a person who's talking one who appears? >> the person speaking appears on the screen. if everybody turns there came on speaker view as opp

> la última detención de una lista de asociados del presidente, su exjefe de campaña, michael cohen y también michaeluchando con los 400 incendios forestales, amenazan con quemar 30 mil edificios, estamos en las zonas afectadas, ¿qué tal? cómo está el panorama?. >> es desolador, no solo porque los incendios no cesan, sino que porque miles de viviendas están en riesgo de quedar así, así sobrevivió la chimenea y el letrero donde lo ofrecían en venta. >> sin control y sin el mínimo aviso, en california las llamas arrasa todo a su paso el fuego no discrimina entre cruzar carreteras y devorar viviendas que no resisten el embate. >> feo, triste . >> son casi 400 incendios por todo el estado, aunque al norte desde las montañas de santa cruz, incluyendo niños no dejan de llegar a albergues . >> no me quiero quemar. >> con miles de acres quemados, la destrucción es evidente, una persona ya perdió la vida, en su lucha por cielo y tierra ,los bomberos se cuidan como pueden. >> nomás pensar en mi familia y saber que todo lo tengo que hacer bien . >> los incendio han originado que toda la bahía de san francisco t

michael goodwin. michael, good to see you. let's start with, let's just start with the mormons and romney. romney coming out against the president, no surprise. this is a man who is filled with bitter fruit. he cannot stand it. his envy of the president, his jealousy, it goes to levels i've never witnessed in any human being. your thoughts about that expect mormonture -- and the mormon church, apparently, to let loose a force of 200 to work against this president. >> yeah. good evening, lou. i mean, the 200, i guess, could be family and friends of mitt romney. it's not a particularly large group of people when you consider the overall mormon population in utah, arizona and other states. so i think it's probably much ado about nothing at the end of all of this because i don't think that there is a pro-biden movement in the traditional republican states, and certainly for mormons who tend to be conservative in all ways, this is nothing conservative about joe biden, about kamala harris, about the democratic party these days. as i think we will see over the next four nights. lou: they were speaking as mormons, and that's what made the group unique in talking about the is not steady like mormons are in their lives expect choices he's made. they apparently don't care for leadership that produces the strongest economy in american history, the lowest unemployment rates for minorities, the strongest military that the country has ever had because he committed to rebuilding it and the strongest stance against the policies of free trade that would have cost millions more jobs than already it had under clinton, under bush and obama. >> yeah. you know, lou, ed koch, late mayor of new york, used to say that if you agree with me on 9 out of 12 issues, you should support me. if you agree with me on 12 out of 12 issues, you should see a psychiatrist. and i think the mormons here -- [laughter] are perhaps asking for too much when they insist that trump has to conform to their desires 100%. as you say, he did many of the things that most republicans view as great for the economy, strong on foreign policy, lower taxes, lower regulations. they don't like some of trump's personality and high style choices, but -- [inaudible conversations] lou: i mean, i think we're past the tweeting. yeah, i think we're well past as a country, except for those who have real mental issues, we're past their evaluation of his personal few, husband tweet -- personality, his tweets. here's a man talking directly to the american people every day, and amongst those people who are listening, i guess, is, you know, among them mario cuomo. he found out that new york state was in play from this president. he's also hearing that his good friend, bill de blasio, the mayor of new york city, isn't popular. this hooks like more than -- looks like more than just a little rift, this looks like it could be interesting. your thoughts. >> well, look, i think that new york is imploding right now. fox has done a good job of covering the exodus really of people getting out. and, you know, the midtown lawyer, most exclusive, some of the most exclusive shopping areas in the country, in the world even are largely empty. the stores are vacant up and down fifth avenue, madison avenue. it is shocking, what has happened -- lou: it's stunning. >> yeah. and it's lightning speed. i mean, the crime is out of control. the police have clearly retreated. the political class seems paralyzed by fear of -- lou: you tell me, you tell me against this backdrop, mike -- i'm sorry to interrupt you, but we're jammed for time. against this backdrop you can clearly see what the left's urban dreams are, and they are a nightmare. you can see what black lives, what lives really matter to them, and not much has to be the answer across the country. the ignorance of this moment on the part of the left has to be a convincing if not landslide win for president trump. >> well, it'll be very interesting to see over the next four nights of the convention whether any democrat takes on this monolithic view that the police are bad. even if you don't want to defund them, we want to take away some of their money anyway. we want to spend more money on social services. we want to do affirmative action endlessly, have a quota system. be interesting to see if any of that is challenged x if anyone says the violence must stop, i will be shocked. lou: yeah. and i think the country is in shock right now. and if the radical dem think this is a winning strategy -- dems think this is a winning strategy, they are out of their ever-loving minds. michaelppreciate it. >>> i'd like to hear your thoughts. follow he on twitter @loudobbs like me onfacebook, follow me on instagram @loudobbstonight. tomorrow michael pillsbury, republican senator bill haggerty, please join us for that. and coming up here next, what we've learned about president trump's decision to take out an iranian military leader. u.s. special envoy to iran brian hook joins us about the future of the region following the historic deal between israel and the uae. we'll be right back. ♪ introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. stocks by the slice from fidelity. i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424. ♪ ♪ lou: well, there are the reports based on claims sources, two sources within th

michael: thank you for joining us today from the boston fed. i will send it back to you, david. david: thank you so much to michael mckee. in that rather for reaching interview with eric rosengren where he said it is up to the virus. we don't need to shut down the economy. at the same time, he thinks it is critically important that congress does come up with some sort of stimulus package. that is what his projections for the economy are based on. he thinks lending programs are doing rather well despite some hiccups in getting started. that was eric rosengren speaking with michaelng up in the second hour of "balance of power" more with richard haas talking about things like iran and foreign alliances. this is "balance of power" on bloomberg television and radio. ♪ ♪ york, whose0 in new :00 in london. i am vonnie quinn. you're the top stories we are following. -- here are the top stories. we will be speaking with megan crane, phis presidential candidate we have is kamala harris chosen by joe biden. we will see what impact that decision is going to have. we will also be hearing from james clyburn on the subject. announcingational this year's tournament will take place without patrons or guests in november. zach johnson. let's get a check of the markets. it is a green market across the board. the dow is up .8%. the nasdaq is up 2%. the reason for that extra gain from the nasdaq, technology up

michael mckee. michael: we have been waiting to see what would happen to the services injuries after covid. it doesn't look like it has slowed down terribly. the forecast comes in at 58. production is up to 67. new orders are up. business activity, 67.2. after the adp report, employment is still a bad number. from 43.1, so42.1 that feeds into the narrative that even if the economy opened up a little bit in july, we are going to see fewer people working, and we will probably see adjustments to people's payroll forecasts for friday. alix: is that the one take away from today, the slower rate of job hiring? michael: that is the important thing. you can open up the economy and get a yield sitting in the middle of the street or a restaurant, but the people who serve you are not coming back as quickly as they would hope. that will slow the economy overall. alix: you mean in new york you literally have tables in the street. i appreciate that take them. one other sign of hope in the race for a vaccine -- you have shares surging to their highest in five years. i two shot experimental covid-19 vaccine generated antibody responses in healthy adults that were four times higher than in people who have already recovered from the virus. i am joined by the president of research and development. it is great to chat with you. the markets are really hinging on what happens on the vaccine front. what is next? it me the timeline. -- give me the timeline. >> we are excited about the data. it is a great platform for confidence to move forward. the next step is to demonstrate the vaccines are efficacious. we were ab

michael mckee. michael: we are looking at consumer price index. it comes in double what had been anticipated. up .6%. that is performance similar to the ppi yesterday. excluding food and energy, also a .6% rise. we were only expecting a .2% rise. pushes the year-over-year number to 1%. that is up from .6. a significant jump in the last month. the rate goes up to 1.6%. a significant increase over the past month. taking a look at the breakdown of some of the numbers, the gasoline index accounted for a quarter of the monthly increase 2.5%e headline number, up for energy itself. gasoline up 5.6%. food decreased .4%. food at home down 1.1%. reflecting the fact more people were able to go out for lunch and dinner to restaurants. the other number everyone wants to watch is housing. the primary residence index, which is the cpi equivalent of homeownership, up .2%. we had a string of .3% gains. it does suggest home prices may be falling, at least the price increase is being arrested. we are seeing that in the new york area. it may mean combined with lower mortgage rates we will see a lot more housing activity. we saw the mortgage bankers association numbers jump this morning as we hit record lows on mortgage rates. it looks like we are not going to see a major increase in inflation, but we are seeing it move quickly and that is one reason we are seeing breakevens on the five and 10 year note rise quickly. we are seeing five-year breakevens, and hopefully we have the chart. they are up significantly compared to where inflation is. there is a debate in the markets about whether this reflects the fed pinning the short end, or whether people are believing we will get an outbreak of inflation. jonathan: stay close. looking at equities. a delayed reaction. we rollover a little bit. still positive 19 points on the s&p 500. in the bond market, treasury yields with the lift going into the number, lift coming up, up almost five basis points on the 10 year 2.69%. even the two your guilt with smaller moves -- that is your two-year -- even the two-year yield with smaller moves. the euro up. people will take this report and go what you did, go through the individual components, and then asked what is sustainable, what is one-off, what lasts, what lives with us? how would you respond to those questions? michaelooks like we are getting back to a little bit more normal given the fact the economy has opened up. you see a rise in used-car car trucks and prices. that was a significant increase. one of the outliers in this report other than gasoline and reflects the idea people are buying again, but not buying new cars at the same rate because the economy is running more slowly. when you look at the interest rate reaction, i am looking at the five-year breaking the 50 day moving average. you are seeing people repricing for more normal. the question is do they believe this continues and we run into supply shortages down the road that will keep prices rising, or are we just normalizing after unusual weakness? lisa: the 10 year yield also breaking out, close to .69%. i find it interesting you have yields rising and you have stocks selling off, giving up some of the gains in premarket trading. does this indicate a stagflationary bet where people are saying high prices will reduce the buying power of c

michael mckee. michael: just loading up the numbers from the department of labor. waiting for it to refresh. the forecast was for 1,400,000. we are getting 1,186,000. a drop in the number of jobless claims during the week that ended august 1. continuing claims come in lower as well good 16 million -- lower as well. million the from 17 week before. looking at the overall numbers column -- looking at the overall thatrs, the pandemic aid goes to self-employed contractors has dropped significantly the week of august 1, six hundred 55,707 down from 909,000 the week before. the total number of people getting benefits, which is two weeks behind, is up. 31,308,000 up from 30,813,000. that is two weeks ago. it looks like as we got to the end of july, we saw some improvement in the labor market. we will see if that translates into any good news in the jobs report. the jobs report the week of july 12. it may not be reflected in this payrolls report if things are getting better. jonathan: the bounce off the lows of the equity futures. we have to look at the trend. this is encouraging. last week was little bit worrying we were starting to go on the wrong direction. what is your take on things at the moment, the trajectory, the direction of travel? michaelwould want to see a couple of weeks, but it is better news we have moved this way. we know it takes a wild for the states to process applications. people were out of claims that had to get back in, that might take a wild. -- that might take a while. if they were not reviling, -- if they were not really filing -- if they were not reviling -- if they were not refiling -- tom: michael mckee knows you want to have a lot of data if you make an assumption. i see a lot of data from early june and the beginning of a trend toward a better american labor economy. did that trend to start with the stimulus? outhat how we took the kink of the claims report? michael: if that is the case it probably did start with the stimulus at the ppp program, which probably did help people back onto payrolls. the problem we have with enough high-frequency data is a get the home-based report, which survey small businesses, and you get the census bureau number they are doing a special survey. we see a lot of job lo

michael mckee. michael: looking at initial jobless claims. the numbers coming in much better than forecast. we thought we would go down to 1.1 million. for the first time in 21 weeks, we are below one million. 900 63,000 jobless claims last week. that is a decrease of 228,000 from the week before. the continuing claims number comes in 15,486,000. that is a decline from 16,107,000 the week before. a bit of a decline, the first time we have seen that in quite some time. pandemic unemployment assistance, the extra assistance that goes out to those who are 488,622, that is a decline of almost 200,000 from the prior week. these are one week delay. the total number of people receiving jobless benefits of one sort or another falls to 28,000,002 hundred 57,995. from 31,323,000 july 18. the total number is from july 25, the last week of july, two weeks delayed. improvement all around in the jobless claims numbers, but you have to keep in mind these numbers are still extraordinarily inflated, the highest jobless claims numbers we ever saw before the pandemic, 625,000 in one week, and now we are still at 963,000. a big decline but still very huge. lisa: that is where i wanted to go. the pace of the recovery. how quickly that number is going down. what you hear from the economists you speak with, the fed officials you speak with, and terms of the progress or the improvement of this labor market. michaelare seeing people go back to work as cities and states open up. the issue has been how may people go back to work and find their job has been eliminated because the company is gone where they are sent back on furlough because the covid virus flared up again. it appears there are still a significant number of people in that state. we are seeing people starting to go back to work. it will be interesting to see how all of this figures into people's estimates for august employment this week, not last week. this is the week of the employment survey. we will see effect thursday, if we have made progress during this week that might give people hope. jonathan: the absolute numbers are utterly terrible, but if you look at the trends these are improving, progress. news beet, would good bad news or would good news be good news? for this market good news is apparently no news. equity futures not moving at all. the 10-year treasury yield where they were. the dollar not moving much. there is a quest

michael steele, former rnc chairman, and a senior writer from politico, who's done extensive reporting on mr. trump throughout the decades. michael steele, let me start with you. in many ways while i know you're not flipping -- you're not vacillating between who you're voting for, but in many ways, this convention was designed to win over people like you, disaffected republican, somebody who had been skeptical of him and his behavior but they're trying to remind you why you're a republican. how did they do on that score? and the people you talked with on that fence, does trump still have a chance with them? uh-oh -- >> yes, i'm here. >> there we go. there we go. go ahead. i was just about to cut you off there, buddy. >> no, no, no. the quick answer is yes, they do, because of the first part of the question, which is the narrative that trump puts out there. look, you saw in the piece by vaughn hillyard, the linchpin that trump is hanging this election on. in 2016 it was they're coming across the border, right? in 2020 it's they're coming into suburbia. it doesn't matter who they are. you layer on top of that given what we've seen over the last six weeks, eight weeks with the protests, the law-and-order piece, yeah, you're going to get those folks who are on the fence, those sort of center right folks who were with trump before are suddenly not so much now thinking just as that gentlemen did, yeah, you know, someone's got to bring law and order back because we just can't burn down businesses and that's the hook right there. now the question for the biden campaign is what's your counterplay? >> michaelou know, it's interesting, donald trump and the case he's making, i feel like in some ways it's the most repetitive case he's made about any time he has dabbled in american politics going back to the '80s. it's the same note, and even last night, that speech to me felt extraordinarily familiar of donald trump through the decades. >> we struck -- what struck me last night and throughout the convention was both the mendacity, the except of it, and audacity, what he said last night went well beyond the 6,000-plus words he actually spoke. what he actually said was you're telling me i can't use the white house for my political campaign? you're telling me i can't have a crowd, mostly maskless, in the middle of a pandemic? watch me. i'm currently doing it. what are you going to do about it? and in a way one of the through-lines of his entire life, prepolitical and otherwise, is this -- the more i get away with, the more i can get away with. he asks people to put up stop signs, to create guard

michael, what michael sheetz is here with us. what a great moment, right >> what a great moment is it right. while it was a historic moment for both nasa and spacex, it was only a test. they launched two astronauts on this one, and they'll be launching four on six missions in the future. they spent two months on the space station, did a number of tests on the spacecraft to make sure everything worked out, and now spacex and nasa are going to spend a couple weeks basically taking the spacecraft and going through all the data to make sure it all looks good for nasa, especially, they expect to be paying now about $50 million a seat in the future when they send astronauts on spacex this is far from the ballpark of $90 million a seat since the space program ended in 2011. nasa chief brian stein really put the emphasis on this saying this is the business model for the future >> you got like a clark gable thing going on, sheetz >> thanks, kelly >> for people who are listening, you look very dapper with the 'stac 'stache and the jacket and the whole thing. we were just talking about electric cars. this is a close rival for some of the retail interests. virtual galactic, which i think reports tonight, is still below levels it was with the fed >> it is is that a measure of how wild things got back then, or does it mean people have actually had more reasonable expectations about it it's very tough to say i think there is a business model within sight for this company, it's just a matter of exactly how much the staof a scu can expect any time soon is it a tourism business, is there a lot more to it in the immediate term very difficult to say, but it is, again, just a testament to how there is a willingness to believe in kind of these big picture conceptual ideas in this market it's not just about demonstrated cash flows >> it's certainly nice to have that optimistic theme right now, you just don't want everyone to get burned michaelheetz, last word to you since virgin galactic does report tonight what should investors be focused on >> they should definitely be looking beyond the fact that the annuals expect them to report a loss in the adjusted area of about $50 million or so. you can expect an update on the progress of getting faa certification to fly passengers as well as any new numbers on how many deposits have been made towards future space flights those numbers giving a little bit of an idea of how much demand there is out there. >> great we appreciate it, sir. virgin galactic shares up about 5% in anticipation >>> a much bigger move today google announced a nearly half million investment in adt today, and as part of the deal they're going to take a 6.6% stake in the home security giant. they will have a stake in the home devices as early as this year 6 million-plus customers will have fewer false alarms and better detection robert, adt is only up about 6% right now. at one point it had doubled. >> it's int

michael out of hock changed again. according to michael, another lawyer said to him, look, you own your townhouse free and clear, why not just turn the title over to dalia? then she can do money things for you, no problem. so michaelwn house as well as $100,000 cash. his part of that payback of the restitution debt. the money was supposed to go to his attorney, but it never got there. >> i'll tell you where it unraveled. as soon as i got dalia that $100,000 is where it went downhill. >> reporter: and he says, after dalia got that nice sized chunk of change, he started to have a string of run-ins with the police, including one night after dinner out with dalia. they left the restaurant to find the police swarming michael's vehicle. after a search, they found cocaine stashed beneath a spare tire. >> i actually started crying to this cop. and i'm like, "look, man, i haven't done anything in 5 1/2 years. i don't know how, why or what happened. they let me go. i couldn't even believe it. >> and you would've gone back to prison because you violated probation? >> uh, yeah. yeah, absolutely. >> reporter: now he didn't want to think that the light of his life could be behind something as nefarious as getting him thrown bac

>>michael yaki thank you so much for your insights and i'm sure we'll be talking to you throughout the campaign, thanks a lot for joining us this morning great. thank you michael you get my vote as the best political analysts and investors thank you so much cnn, thank you madam us coming up on the kron 00:04am morning news well, a whole couple together for more than 30 years. they lose the battle with covid-19 just days apart, how the family is coping with the devastating loss. >>plus state lawmakers calling for an investigation into a data glitch that caused thousands of covid-19 cases to be under count. >>a new ordinance here in santa clara county says you could pay hundreds >>and welcome back to the kron 00:04am morning news. let's take a quick look at the weather conditions. david's flip-flops there are calling me right she could ever going to be that covering will marty good morning, everybody. >>and even really today but you're going to really feel it all the way across the bay by the time we get to the latter portion this weekend the weekend. this live shot coming in to notice more and more blue we have san jose state with some sunshine peering in there