robert frank is vitally important. in some ways that photograph counters the optimism of the family man. interesting undercutting that optimism of the family man. i should say, frank used a lika. it's not a lik amp it's a okay none. you can shoot off like this or shoot over here. it allows for a very versatile understanding of photography and allows me to catch images on the fly. imagine frank on the street capturing images, allows his versatility. this shows how he sort of thinks about capturing images. and in the mid-50s he won a arg guggenheim scloip. between ' 5 and '56 he took several short trips from new york and also took one long nine month cross country road trip. driving. and brought his cameras and took many photographs around the country. and he shot over 20,000 pictures. so a massive amount of film he took. produced contact sheets. sent what he shot. then he printed 1,000 of them to rather scale. then he chose 83 of these to public lir in his book called "the americans" in 1958. you see it right here. 83 p

so robert frank was really influenced by walker evans and we see frank's interest in flatness as well as self-conscious, self-reflective ideas about photography. trying to argue here that both evans and frank are interested in showing us the self-consciousness about photography. we see how the photograph is composed. we see it as an intentional utterance, not some kind of factual truth. is that clear so far? this way robert frank works between the ideas of walker evans on one hand, sort of modernism but also a little bit of "the family man." he's in "the family man," but also interested in ideas of photo journalism. so robert frank sort of described his practice the advertise very simply trying to make art photographs that look like press photographs or photographs inspired by popular photo journalism and you can see that, i think, in this slide here. some background on robert frank his biography is important to his world view and photography. he was born and raised in switzerland and lived out world war ii there as a young man. and as someone who grew up jewish in switzerland was pet

robert frank was really influenced by walter evans we see frank's interest in flatness as well as a self conscious self reflexive ideas about photography. we are trying to argue here that both evans and frank are interested in showing us the self consciousness about photography we see how the photograph is composed when you see it as unintentional utterance not some kind of factual truth. in this way robert frank works between the ideas of walker evans on the one hand the modernism but also between a little bit of the family man, he's in the family man but he is also interested in ideas of photojournalism. and so robert frank describes his practice very simply he is trying to make art photographs that look like press photographs. or aren't photographs that are inspired by popular photojournalism and we can sort of see that i think in this slide here. some background robert frank, his biography is important to his worldview and his photography. he was born and raised in switzerland, lived out world war ii there as a young man. as somebody who grew up jewish in switzerland he was putrefied

when we have both the franks, all get -- >> robert frank -- >> frank is my middle name. >> even worsef a boom could we get? what will that mean for homeowner, banks, economy? that's next. heading to break, a look at the most searched tickers on cnbc. the 10-year tops the list today. the dow, apple, tesla, s&p round things out markets have been forced to reprice. there's an impact here on both economic growth and profit growth that will show up in the first half of 2020 but the important thing for investors to recognize is that there's light at the end of the tunnel we are not sure how long the tunnel is going to be. >> given all that, what role could the fed play in this >> there's an expectation to ride to the rescue here. i'm not sure how a 25 or 50 basis point reduction in the fed funds rate gets somebody who was going to stay home to go shopping at the million. >> what is the best investor >> real estate and infrastructure and within real estate leaning away from industry into more retail and office space. >> thank you so much. >> thanks for having me. >> for more from jpmorgan as

robert frank is here with this sad state of affairs, robert >> yeah, and some big numbers, kelly. states really face two issues here headed towards this budget cliff first, the rising cost of unemployment and this health care crisis, coupled with the fact that revenue and tax collections have basically vanished with economic activity stopping so they're going to have to raise taxes and/or cut costs, most likely both let's take a look at new york state. so they went into this with a $6 billion deficit. they're now projecting that tax revenues could fall by up to $15 billion. so that is going to be a huge hole they need to fill legislators there are already talking about a wealth tax, some kind of tax on high earners. but here's the key, their fiscal year ends in five days so for new york, this is going to be a race against the clock, as they're also trying to deal with the virus new jersey, similar situation. they're talking about what they're saying is a, quote, precipitous drop in revenues governor phil murphy there had proposed a millionaire tax, even before the virus hit that i

robert frank explains back at headquarters it's actually a lot of zeros this is shaping up to be thegest overnight destruction of wealth since the financial crisis the market losing about a trillion dollars in market cap overnight and the billionaire fortunes tied to stock are taking the biggest hits. jeff bezos saw his fortune drop $6 billion overnight, about what he lost last october when they had the earnings miss. he is down $18 billion just over the past month he is still the richest man with about $111 billion elon musk down about $4 billion. his fortune down $12 billion for the month but with that big run up in tesla stock just in january, he's still up about $4 billion for the year he is the only one of the top 30 billionaires positive for 2020 wa warren buffet down $4 billion. the virus taking $12 billion off his wealth the biggest loser is barnard, the ceo of lvma dropped $6 billion last night and early this morning, down $30 billion in the past two days 60 days he's lost more than the total network of ken griffin and david tepper combined. mark zuckerberg of facebook losin

robert frank is outside st. patricks and joins us with more. his mass for jack welch expected to start in 20 minutes at 9:00 a.m. already the number of people in top leaders in business and finance and media just incredible how many lives that jack welch touched, that he improved, that he impacted as both a business leader and ceo and as a mentor and partner to so many people i want to show you the program from this morning's, which the list of pallbearers shows you the impact that jack welch had on so many people. so included in the list of pallbearer this morning, mike barnacle, co-wrote the book with jack welch "straight from the gut" bill belichick, larry, andy lack, david zaslav, eulogies from many of the family members as well as ken langone and mike barnacle again, the number of business load leaders, finance, media, coming in this morning, just incredible how many people he touched and i thinkthat's really what today will be all about as well as hearing from mi mbe, dren, stepchildren and falyemrsguys. >> robert, thank you very much >>>

robert frank joins us with the details. robert >> state ledge islators pushing a bill that would be the first in the nation that would allow renters to cancel their rent payments for three months. it allows new yorkers who have lost any income due virus to cancel their rent for three months this is not delaying it's flat out canceling them so they would never owe small businesses woul also be eligible this presents a problem for landlords. so the bill solves that by allowing owners of apartments and builds to cancel their mortgage payments for three months gnr admits this would pass the problem to the banks and mortgage lenders he says they could get help from the federal government and the fed. now governor cuomo he's opposed to this. he says his order to stop e vices for three months which he passed would help renters and solve the problem, but since that could lead to a rush of evictions this summer. this could be decided tonight because as of midnight tonight, the state fiscal year ends and the new york state sbugt due a

our robert frank is there and joins us now with more robert >> reporter: good morning, david. service as you said just wrapping up for jack welch here at st. patrick's cathedral in midtown manhattan his coffin being carried out he will be buried on friday in nantucket. there were two eulogies. one from ken lengone and one from mike barnicle i want to give you some moments from two of those, telling the story that as a kid jack welch got a scholarship as a golf caddy and then one day a golf member had a tough day, took it out on jack, jack took the golf member's clubs and threw them in the pond along with his entire paid scholarship and education so he ended up having to go to amherst and pay for it himself, showing that no one pushes around jack welch. then mike barnicle saying in the end jack welch had one rule in this world which is just show up every day in life and in work and perform. i think no one showed up every day in both like jack welch. guys, back over to you >> robert, well said trk'inew. nk, outside st paics n york. we're back in a moment supporting innovative co

and then display chain disruption for products coming from china >> the other question which our robert frank has reported anecdotally, open house showings in manhattan are following any sign the next few weekends it might be a little tougher out there. >> we've been calling around to retailers all over the country and all real estate is local while one agent in texas said everything is great, an agent in l.a. said the same thing, in seattle, you're not seeing is that you're seeing open houses being canceled and redfin saying they would be willing to do skype tours without the potential buyer being there. >> let's turn to the restaurant stocks darden and brinker international are down double digits let's bring in jim ballis now, managing director of the strategic operations group at capital spring, a private investment firm focused on the restaurant industry. jim, it's good to see you. so, restaurants -- the trouble is, if you don't take your trip to some country this year, you might take it next year. the restaurant business that is lost because of coronavirus, they're probably not going to

robert frank is back at our headquarters and has an explanation for us as to why robert >> good morningd more than $5 trillion in wealth lost in the stock market over the past few weeks, we are getting a little of that back this morning, but all that wealth destruction and all this volatility could create its own consumer fallout economists call it the negative wealth effect, the idea that a decline in wealth whether from investments in your home or the stock market can cause consumers to lose confidence and reduce their spending the rule of thumb here is that for every dollar lost in wealth consumers spend three to five cents less, so that $5 trillion drop could result in a $250 billion decline in consumer spending that's a small share of a consumer economy, where personal spending can top $14 trillion a quarter but moody's estimates a 10% drop in stocks and we're well past that now could reduce gdp by 70 basis points the sectors that could field the greatest impact from a negative wealth effect are travel, hotels and clothing, that of course could compound some of the same sectors hur

robert franks has the latest on that good morning, robert. >> virus fears hitting buyers and sellers in new york city real estate, a market that has been in decline for two and a half years 44 open houses last weekend that were empty not a single person showed up. that represented 13% of all open houses, average attendance there down 27% that's according to data from fritz freegan and hallsted saying if buyers feel the values of reels will depreciate because of the virus and financial instability they will postpone decisions to buy on the seller side they're reluctant to put apartments up for sale and pulling listing because they don't want strangers touring their apartments march is always the strongest month in new york for listings listings grew 9% between the start of the year and mid-march this year during the same time period only up 2%. as we mentioned manhattan real estate seeing eight quarters of declines due to an oversupply and the s.a.l.t. tax changes and the mansion tax. this is the third punch after the one-two punch of taxes and oversupply back to you. >> robert, thank

robert frank joins us right now and he has more details. good morning. >> good morning, well, biden's plan would raise taxes by $4 trillion over a decade with most paid by high earners and companies. according to a new study from the tax policy center. now biden would hike 8% in total and every income group would see an increase. the top, they would see by far the biggest hike the one percenters would see about 300 hi to dollars a year the top 1%, making more than $3.6 million a year, they would see their tax rate jump by 60% to 47% and nearly three-quarters of the increase in taxes under the whole plan would be paid by the top 1% and the bottom they would bear less than 7% of the total cost biden's plan calls for rolling back the trump tax cuts, bringing the corporate rate up to 28% from the current 21%. and he would tax capital gains the same as ordinary income for those who make more than $1 million the year. the capital gains tax would go from 20% to 39.6% and he would apply the payroll tax to income over $400,000. now his plan is less

being hit by a double whammy robert frank joins us with more on that. >> it is local for now but does have bigger ramification hitting buyers and sellers in new york city. 44 open houses last week that were completely empty. not a single person showed up. that represented 13% of all open houses averaging attendance. according to data. seeing if buyers feel that values of real estate will further depreciation because of the virus and financial instability, they will postpone decisions to buy on the seller's side, you have them reluctant to put apartments up for sale. march is always the strongest month for listings in new york city growing 9% and in the same period, they are barely up 2%. manhattan real estate has seen eight quarters of declines due to new development and the decline of foreign buyers. not just that new york is the largest real estate market it is the credit problem a lot of these were highly leveraged with loans if you get one or two quarters of slow or no sales, a lot of these could go into default. they are taken over and then you have a bigger credit problem >> tha

that's where the news out grabs to hold thanks for watching so robert here to update you in just a few moments i'll see you again but for. frank assessments the one good thing about these bushfires usage really wiping out all of the climate change informed opinions economy i think is actually what's keeping donald trump afloat right now critical debate sequel on those through school you've been told what the noise all about this argument is astonishingly patronize an in-depth analysis of the day's headlines this is the beginning of a new iraq of the new conscious and aware youth about struggle against an ethnic sectarian kota inside story on al-jazeera when the news breaks the word out for was part of the ins and getting more police on the presentation and economic development when people need to be housed at the top leadership world where the potential for parity of the virus weeks before the public with total strangers al-jazeera has teams on the ground the syrian army seems determined to defeat the rebels and continues advanced was this is a good day to bring you more award winning documentaries and life news. what's behind

frank just couldn't get through. >> you know it occurred to me that i haven't cried in a long time. i've learned how to do that. that's it. >> reporter: firefighter robertlped with the arson investigation. >> you can see that the glass itself was all burned out and you can see where it's still kind of intact over here. it was really obvious to see that more intense was on the driver's side. >> reporter: meaning that's where the fire started. that's where the arsonist wanted to be sure to erase evidence. under the car, damaged skid plates and strands of wild grass caught in the suspension, meaning somebody had driven off road very recently. and after? dumped and torched the car in an industrial area just a quarter mile from where paige made her last phone call. >> it was way beyond her house, right? >> correct. >> didn't fit for the car to be there. >> reporter: news of the car fire was a turning point. no longer did the public suspect this was a case of an overwhelmed, runaway mom. the response was an outpouring of volunteers, a spontaneous community project to find paige. >> just seeing the dad on tv and everything like that, i have some children of my

frank, stay with us we want to dive deeper into the logistics conversation joining us now is c.h. robinson ceo. a third party logistics provider nearly $20 billion in freight under management robert, thanks for joining us. tell us how your company has changed as a result of the pandemic and the fact americans are stocking up now on groceries and pharmaceuticals. what are you seeing? >> good afternoon. thank you so much for having me here today you know, given the global nature of our company and the fact we operate on multiple continents around the world, we've really been into helping our customers of all sizes manage through supply chain continuity planning since the onset of this at the dpibeginni of the year, so we tend to look at the progress we've seen at this global pandemic across asia, europe and now into north america. we've seen a different story in each case. when we think about asia and the start when this happened in the lunar new year, we saw delays in manufacturing. we saw more canceled sailings in the ocean freight industry than with all the tariffs leading up to it to put it into perspective. within europe, we saw a peak in demand of essential goods and now as m