that is not unique to spac's. ipo's and spac's are all down.ean we are bad companies. but the investment community removed from risk on to risk off. caroline: do you have to wait for the pendulum to swing back? or do you look for new companies that can thrive? >> this is what we will continue to see in 2023. we will continue to see a lot of liquidations because we still have this volume of spac's. we will continue to see a pickup in the pace of announced deals and we are starting to see that now in our own spac's and others. spac's are providing an opening of the window into what is the largest pool of investors in the world. if you look at 2022, there were under 20 ipo's but 200 spac deals. it remains a way to go public. i think it will continue. caroline: fascinating. it is about, thank you for coming on. meanwhile, coming up, let's talk a little bit about the supreme court. we will discuss that with alex open my ucla law professor. this is bloomberg. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ ho

it is one of the rare spac plays i've been willing to endorse because it's an old fashioned spac thatse the pile of money and they're using that money to gradually consolidate the very fragmented bowling industry come on. turns out bowling is a real good business bowlero reported the most recent quarter across the board beat. the stock jumped in response it's up 14% for the year can they keep rolling? let's check in with the founder and ceo to learn more. welcome back -- leo, mr. shannon, welcome back to "mad money. you had to do that he knows i always make up a name when i bowl. you never use your real name because you have to put your funny name i'm beethoven. >> beethoven. >> yes. >> always. >> let's go right to it. >> okay. >> you are a spac that worked. >> well, i think we're the number one despac of 2021. we're a real company jim we broke through revenue in december we started with a million dollars a year in revenue when i bought the original lanes and now we're a billion. 353 million of ebita we're firing at all cylinders. >> most people are excited about 2 to 3 to 4% comparab

>> next up, celebrities endorsing spacs or special purpose acquisition companies.re shell companies listed on the stock exchange with low regulations and no operating assets, except for the endorsement of celebrities like alex rodriguez, peyton manning, ciara, and real-life cocaine bear, larry kudlow. look, when you start a company, the first priority is picking the celebrity spokesperson. little details like what the company actually is or does can be hammered out later. >> a-rod has a cayman islands based spac called slam corp. with $579 million in assets. it's simple. he's the all-time major league leader in grand slams and, no matter the context, he will succeed in all slam-related activities. >> moving on to kourtney kardashian. the self-made from inherited wealth business queen is promoting her new lemme purr gummy supplements, which claim in an instagram post to her 212 million followers, which isn't that many -- we combined real pineapple, vine minute c and the power of clinically studied snz 1969 probiotics to target vaginal health and ph levels that suppo

it's a former spac name.the time, it was trading at $6 and i gave you my blessing but only for speculation roughly 14 months later, origin stock is roughly the same level up slightly but the market is down 10% over the same period. if you ask me about this a month ago, it would have been a much worse situation. origin is back to the levels thanks to a furious rally over the past few weeks again, just kind of like farfetched, you know what i mean this stock bottomed at $4 and change late last year and managed to rally almost 45% since then again, part of that rotation to all things speculative in 2023 so where do i come down on this one? honestly after a little over a year, i have the same attitude you got my permission to speculate providing you know you're speculating, meaning you should only buy with money you can afford to lose this is a great stock to talk about yesterday, a business school at the university of miami. it turning the carbon found in cheap, widely available non-food bio mass like sustainabl

look, i mentioned regulation also because look what the regulators did to the spac business, right? year. this was one of the big pieces of business and a lot of activity was flowing as a result of spacs. >> right. look, i mean, healthcare i think is interesting. it's something that we would expect to see sort of an uptick. every few years we see significant life sciences transactions, we could see some big ones. obviously med tech services, that sort of stuff you a app yo- appears to be going on, potentially a bright spot. last year, 60% of the volume of the markets he g globally was th and industrials. some of the stocks have gotten beaten up. we need to see a bit of a reset in te terms of buyer and seller. there's a massive drop in stock prices in technology. sellers will get sticky. if you have 52 week high at 100 and now you're trading at 40, put a normalized trading on that you're at a massive discount to the 52 week high. those roll off and people believe the reset is secular then i think you could see that ability to get buyers and sellers closer together. maria: what are yo

this is gb news, not spacs. the briefing with top . with top. good morning.s 934 and this is the briefing with me tom harwood on your tv and, your radio. now, this morning official numbers are being published revealing . the scale published revealing. the scale of illegal migration to , the of illegal migration to, the united kingdom and this news comes as the home secretary has told gb news that nothing is ruled out . it comes to fixing ruled out. it comes to fixing the channel migrant crisis in an interview with gb news liam halligan, she also issued a veiled threat to number 10 over the northern ireland. so of the law home secretary , over 45,000 law home secretary, over 45,000 people across the channel in small boats last year. the number this year expected to be a lot . rishi sunak in his own a lot. rishi sunak in his own words, is committed to passing new laws to stop the small boats. those laws have now been laid before parliament. does that mean that the government's ruled out leaving the european convention on human rights in order to try and tackle

a lot of these companies are early-stage pre-revenue and went public for spac's.month, six week performance is absolutely staggering. big bear is up more than 500%. when we speak to venture capitalists investing in this area, and we speak to experts in the field, they couldn't tell you what these were doing. they were speculative bets to what we are seeing in the real world. alix: the nasdaq 100 is up 94 points and microsoft is accounting for 50 points of that. what gives? ed: this is going back to basics. analysts are taking their time and said the outlook or microsoft software is decent and that it is attractively valued and fundamentals are strong. when they look at the artificial intelligence component, they see the benefit of the top line being distant and moderate in the near term. there was so much hype about what microsoft was doing in ai research, that in the scheme of things that it will be a while before it meanly shows up in earning so just chill out. dani: to be fair, microsoft is up 13%. that is bloomberg's ed ludlow. coming up, it is about u.s. cpi.

it's a spac deal and company wanted to give anti-woke consumers amazon-like alternative and ceo of publicquare tells us how hawaii he plans to do that -- he plans to do that, he's next. ♪ stuart: the markets this morning, for the dow way down off 188 points and that's about a half percentage point-blank layups and not much movement for the s&p and nasdaq is eking out a tiny gain and what does that tell you? dow off 190 right now and federal trade commission may challenge the mortgage software merger between black knight and inter-cot mental exchange and -- intercontinental exchange and what's this all about and b, why should i care? ashley: see if i can make you care. good morning, stu. reports say ftc believes the deal would give the intercontinental exchange that owns the new york circuit stage too much power and multitrillion u.s. market and come with experience ever pence of higher home prices for consumers and competitors in the marge data and services industry. the ftc investigating the proposed $13 billion deal since it was announced nearly a year ago and could lead to a lawsuit, b

how many stocks this week rallied 10%-plus after the earnings i commenced crypto, the spac stuff, it's all the garbage. the s&p 500 was down alternate 3800, okay it's at 4800 right now that doesn't make sense when you think the about the dollar has rallied, crude oil has rallied since then and the ppi number shows goods inflation is actually coming back that's my main point tenth it really feels like, for some reason, i think a lot of investor said they're doing being bearish, done being in this environment. >> i'm going to clean up the english a bit. i'm with you here. it's certainly not the first in, if we're talking about lifo or fifo, but it's likely the first step out of your portfolio because of that reason, once you have gotten behind the fomo, that's what they went to pile up on to the broader economy, i think part of this is in part of a slowdown, a fed that continues to be hawkish, but we also have not seen the slowdown that has come to a screeching hall that we all feared may happen that's why you have these calls for no landing at all. i think that situation where we contin

some might have gone prematurely with spac.out more products to sell that customer that can enable you to justify customer acquisition costs. how do i sell more things and how do i get my customers coming back more frequently >> kim companies full on build in acquisition, engines ontic tok, or is tiktok just a digital version of a big white balloon hovering over the u.s. with cameras in it, watching what everybody's doing and eventually the government's going to shoot it down? >> are these mutually exclusive thoughts we used to give facebook a hard time for taking our data but tiktok, that's fine. you can build a massive business on tiktok. everyone who's not investing, i don't care what business you're in, you're making a massive mistake. bobbie brown is in her 60s it's doing okay. she put the camera on herself, embraced tiktok and doing incredibly everybody can embrace tiktok until the government shuts it down. >> that's right. matt higgins, author of "burn the boats". >> an all-star lineup at harvard business school, we shou

think your stock market performance would have been better if you did not go public via very complex spacmerger, a traditional ipo? how does it impact the holders of your company and do you think it's held you back >> i think it would have been better it was a necessary tool to accomplish the strategic end we wanted to accomplish and it worked we're able to bring together these solutions, capabilities with our direct lending capabilities, so it was the right thing to do and it worked. however, it means we have to spend more time educating more investors about our business because we didn't have that traditional ipo route. so i think the silver lining, i think there's a lot of upside from here as people come to understand listening to our earnings this week will start to see a real difference between blue owl we deliver exactly what we talked about publicly in the spring when all our peers, for reasons that are understandable, are not able to deliver what they thought in the spring because the world got more uncertain. times of uncertainty, we still continue to perform. >> one thing that w

next up, i hate almost every spac except one. the one holding up mom and pop bowling allies i expect very good numbers will shopify have itsings quarter? it's no longer enough just to be the fulfillment company for the web or at least the part of the web that's not dominated by amazon thursday we get results from a company called constellation energy i have been recommending this one for a long time because it's all nuclear. huge winner from the so-called inflation reduction act too. i would stick with this one as long as the democrats are in the white house. we hear from a host of companies. now we act secretary of congress on earlier this week, and she's been instrumental in creating legislation that will help the u.s. regain dominance in semiconductor manufacturing pip warn you not to buy materials now off the legislation. it will be years before it gets to orders. semiconductor pricing is bad at the very least, wait until after the reports because i'm beth it might not be that good a quarter. 50 million people gamble in this

the recent listing of two new etfs, and at the nasdaq, ocean biomedical celebrating a listing via spacf that activity picks up. >> yeah. as we said, many of them liquidate, and it's not a bad investment your money back and something. >> yeah. you had some forced saving for a little while >> exactly in a market, obviously, last year, certainly, where you would have not done well if you had been invested in the broader market but the spac craze is obviously long over, though they continue to sort of percolate >> for sure. i was going to mention, i mean, just in terms of stocks that had the massive run, then the bust, and then a big revival, shopify this morning it opens down almost 15% now, that's after doubling off the low in october delivering earnings after the close yesterday that were pretty much better than expected across the board. the guidance, a little -- perceived as a little bit light or conservative, which implied a real deceleration of organic growth so, we'll have to see exactly how that jibes with what the street was already anticipating, whether it's read to be too conse

by the way, world view is going public later this year via spac. piece in "the journal" about trump era pentagon officials had similar episodes but it wasn't clear they were the balloons -- or were balloons at all so she didn't report it to the white house. reuters has a headline out just now that we're probably close to getting some recover conclusions regarding that first balloon off the coast of the carolinas. >> one we will watch. >>> quick note, starting on tuesday, you can join morgan on "closing bell" at 4:00 p.m. eastern time as we sort of rejigger the day are you excited? >> i am. this is bittersweet because i'm incredibly excited to rejoin my old coin anchor jon fortt and take on the 4:00 "closing bell:overtime" and i feel blessed to have spent time between you, literally or figuratively on the desk where you guys are concerned you guys are amazing i'm learned a lot sitting here with you i'll miss you. although i'll still see you. >> you'll still see us i've learned more about space from you, morgan, than i ever knew. >> and defense and f

. >> so, in a comfortable spac e, it's aubetiful. 'sit amazing. >> reporter: he otis n here for mshiel f.the field iptr is o open the eyes and minds of 90 antiteer >> we are lindcay store ! >>pawi thcoiestncores kshowidwhs at o the chte world. if eyth can't see it, they n'cat iminage themselves init. >> a lot of our stenudts, espelycial dski from esthe coitmmunie s,a lot of times feliel ke they mebeco ivcapte to their roenvinmt.en >>reporter: the oakland na ti, vewho grew up in tianoc h, exposing snttudes to a oviewf the world he kelid asa kid. >>my father wasn't present fory mother struggled a whole lot. whethe r itwames ntal he al, thdrugbu ase. r fo, mei was alwa ystryingo tfind selfas a young black male in society. no father figure, no povesiti acblk male role models. re>> poerrt: he got into tre.oubl after serving seven monthsju in veleni hall, so meinthg cld ickeindesi. so, the fit rsthing that i hatod realize was i haveto ta neowrship of my l ife. >> reporter: wheent to uc davis on a footllba scholarship,n themoved on to grad

defied companies losing money the stock keeps going higher i think it is a great, not good, but great spacng on >> caller: question for you. my question is regarding battery. i've had it for six months and the price has definitely gone down. >> yeah, you know, here is the problem. i do love the idea of ev and batteries but we're not recommending stocks losing money unless it's a biotech with a very promising pipeline and that is not that stock. let's go to mark in new york, mark >> caller: boo-yah, jim. thank you so much for taking my call. >> my pleasure. >> caller: jim, you are so entertaining and informative you're the best teacher and make it fun thank you, thank you, thank you. >> not handsome. i never heard hand some never heard hand some, hand some once, handsome twice mark in new york what should we do? yeah, you got me. >> caller: the last time you talked about the stock, you said what the heck is it doing below 20 now it's up 16 is barrett gold a great -- >> yes i've been wrong. i've been wrong. tell you why i've been wrong, the price of gold is very bad, not because barrack is b

and you know, reagan, use food interestinglyo coect with a spac he was famous for jellybeans.lybeans are entered -- an interesting story, because they seem to be a trivial candy, but actually, the back story is that he started eating jellybeans because he was weaning himself off of tobacco. here's a pipe smoker. and then he was jelly -- used jellybeans to judge people's character. if some of came into his office and began to pick out certain color of beans and not eat them, he would take note of that. it meant something of that person to him. it was also awake of using food to relate to his voters. he would say well, i like this simple, sweet candy, you like it. therefore, vote for me. he did not even have to say that. he just use the jellybeans as a metaphor for his good-natured, folksy demeanor. he would hold up a big jar of jellybeans and show it to the cameras and smiled. and it did backfire at one point when there was sort of a coming together of events where he was eating jellybeans, which are sugary candy, his administration declared, infamously, catch up to be a vegeta

i said $1 billion in chat gbt and then 110 nonetheless, 338 on the 10 >> in return >> it's like a spac return. >> for more on this let's bring in brett win itton, has been tracking the ai race grates to have you with us right now we're thinking about the revenue impact but in terms of long-term advantage, google versus microsoft, who has it? >> i think google is fundamentally impaired by this transition to ai it's a classic innovator's dilemma story where they claim they have technology they could do it if they wanted to, but the transition to ai really imperils both the cost structure of search and their ability to generate revenue. their entire business model is based on taking people and delivering them to the next light. and these ai systems actually deliver answers to the end users. so search as a way station for the rest of the internet it's not going to persist as a typical user behavior over the course of this business cycle. >> is this assessment made based almost solely on what google unveiled last week or was this your thinking prior to and going into even that botched launc

makes sense to do some selling in certain select areas, especially the techs and the fintechs and spacs with crazy valuation sxwz no real earnings but beyond raising some cash after a bad couple weeks stocks get cheaper, right they start pricing in some of the negatives. quh dimon talks about the war in ukraine, high inflation, it's not like these are new worries he with went over a lot of this with him, as you'll see later tonight, i came away short-bearish on events in washington but totally bullish on the events at 52nd and market in philadelphia the under watching street we visited with jamie where he put up a new chase branch -- it's really a community center. it's much bigger than a branch many times during our interview earlier, it was on the "halftime report" and later on the show, i found myself thinking who cares about where the fed funds rate is if chase can help pull up an underprivileged neighborhood, maybe we're in a much better place than wall street's willing to believe but you know there's a problem with that thinking the resurgence of a gritty west philly neighborhood

it's like -- ♪ holdin' me back ♪ [ cheers and applause ♪ gravity's holdin' me back said the man from spac very, very poetic kind of -- it's like -- ♪ answer the phone ♪ [ cheers and applause ♪ harry you're no good alon why are you sittin' at hom on the floor ♪ ♪ what kind of pill are you on ♪ [ cheers and applause >> jimmy: you know but then -- but then it's got this, like rapid-fire bridge at the end that goes really fast that i love. it's like riffing. it's almost like a little adam sandler at one point. it's like -- ♪ [ unintelligible adam sandler noises ] [ laughter and applause >> jimmy: it's kind of like that it also could be kind of mick jagger-y too. 'cause there's like -- it's almost like -- ♪ go home get ahead light speed internet ♪ [ cheers and applause ♪ i don't wanna talk abou i don't wanna talk about don't wanna talk not the same as it was ♪ >> jimmy: but then - ♪ then there's the chorus. there's that chorus that just -- that sticks in your head, you know ♪ and you start thinking to yourself, is it the same as it was? [ light laughter ] you know ♪ it's very springsteen almos

how about china gets their outt of our airspace and if wer spac don't, we'll blow them oute. of our airspace. >> t i don't have enough people to surveil back in their own country. they what, one point fourines billion chinese citizens they treat like prisoners? or whahat about the minority figures that havetrying and persecuted and they're trying to exterminate. whd by the wayo extermin, are wd to be cool-headed want to spy? balloon is hovering overpy us ad our nuclear sites, all while china is throwing complete and total hissy fit every single time. v an american officialisit wantswr to visit an allied country called taiwan, they say they want to reunify with now. the last time pelosi visited our pacific ally, the ccp, they threatened targeted military operations against us and chinat even claim that pm global stability was ruined because mike pompeo, who will a sein us in a moment, congratulated taiwan's president on w a second term, which is supposed to be what, calm, cool, collective relaxed about a chinese spy balloong ov hovering over our country. in our airspace.pace.

this complex andpl nuanced spac, the details matter. failure to enact rules, even through rulemaking or legislation that protect investors and allow digital assets to develop in the u.s. what risk off shoring innovation and putting american businesses, consumers at a competitive disadvantage with our foreign peers. it could also jeopardize an important national security lover of the u.s. t government. the preeminence of our financial system. thank you again for the opportunity to testify today look forward to answering your questions pickwick thank you professor. welcome. >> chairman brown, ranking member scott, distinguished memberss of this committee. thank you so very much for the opportunity to be here today it is an extraordinary honor and privilege for me. i hope my testimony today can get some help to this committee as you progress your review and think about the causes of the crypto crash and the steps we need to take to shore up the financial system as well as most importantly to protect those who usee it. we've been asked toda

>> the last time we spoke to you you said you had narrow the list of targets for the spac to 30. >> absolutelyas and as the clock ticks on this, we are down to a few interesting targets not much i can comment there. at the end of the day, this is part of a larger orbit develop portfolio. -- larger corporate element portfolio. otherwise at the end of the date we need to be good custodians of our investors funds and if nothing comes up, there is always the chance to return the money. >> great to have you with us. coming up, and independent lawmaker joins us from sydney world pride. this is bloomberg. ♪ go scientist. go software. go cure. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson. is an elegant ev. yeah, with 389 horsepower. ♪♪ it's electric. with an edge. ♪♪ ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you g

. >> meantime, rob, since blade went public via spac in the spring of 2021, looks like the stock's downt's getting a pop today, but given the conversation we're having, are you surprised that investors aren't reacting more positively to the business model that is in place and the transition you do have laid out for the coming years for the company? >> well, we are profitable on a flight margin basis today. obviously, all companies that are small and high growth given the current interest rate environment have been severely depressed. we are very undervalued, in our opinion, and have over $200 million of cash. i think investors have to be careful not throwing the baby out with the bath water. we have to be careful about executing on our plan, but the path to profitability is right ahead of us. >> it's good to see the test flight today the video, of course, the next step is getting david and morgan and me in one, right you ready, guys? >> yes >> david wants to fly in one i do >> i know. i told david as soon as he gets -- we're going to get you in sooner than you think i hope you don't get

. >> how about tonight >> i've one of my favorite companies, bowlero the only spac i like the only one i like to look at every one of the reits that involve shopping because they tend to give me good insight into shopping itself more than you get from individual companies. this isn't one that has target i think target is derisked by walmart, lows derisked by home depot. >> yep off and running. going to be a busy one. >> very exciting. >> see you tonight "mad money" at 6:00 p.m. >> as we said an exclusive with cathie wood here at post nine with the dow up 260 now. - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly. i like getting paid correctly. >>> good monday morning. welcome to another hour of "squawk on the street. i'm sara eisen here with carl quintanilla as always live from post nine at the new york stock exchange david faber h

, but it's starting to feel more like a talk right now >> we focused on churchill capital, the big spact's still a $14 billion market cap company with a very large and deep-pocketed majority shareholder. so, you know, we'll see if they need more money. >> they need to put money in that thing now, right now, or else i think we just have to say that it was a great run. they have to do that the car's just too good to just go away. carl, right now, phil lebeau yesterday had the great story about how in california, musk has number one and number two. there's a lot of room for a company that wants to come in, a beautiful car, and take share, but the production problems here are just now legion. i mean, they were there -- when i was out there with rawlinson, last year, the problems were terrible the problems aren't getting better it was two years ago the problems aren't getting better >> yeah. >> more reason to buy tesla. >> tesla is very hard to catch up on. there's too many advantages and structural advantages, supply chain, logistics advantages. that's what's fed the bull argument on tesla

the chapter that was the long quiet in the big short, there is the whole meme spac thing.ong-term investment given how they fitted every week, every month by the back and forth? steve: dubai for, like i said -- 2 by 4,. people have to be -- 2 by 4, like i said. people have to be hit over the head multiple times with a 2 by 4. hi revenue companies with negative earnings got destroyed last year. they were down 75% to 90%. people point out they have gone up a lot. when you go down 90% and then the chart goes up 100%, it does not make a big difference. lisa: it looks like one of the biggest pain trades in the wrong direction, towards the paradigm we have been familiar with for the past decade. steve: if inflation comes back and the fed raises rates more than people expect or keep that there, people's taste for such speculation will erode. it takes time. maybe this is a year of the last hurrah. jonathan: some people are guilty of becoming married to positions. do you have a favorite position within the portfolio? steve: no, i don't. i'm not married to my stocks. jonathan: how d

is spac which means inventory is out the door. target is one of the best well one machines we have.ng about all of retail's inventory agony from target? michael: the retailers have done a good job realizing they made a mistake in working through it. this is hurting a lot of retailers in 2022. they got really over extruded trying to bring in inventory early. everybody got over sorted. the retailers realized it quickly around march or april last year and aggressively moved markets down. it was a tough year for a lot of the retailers mistake got it stand. tom: you look at it as a pandemic one-off in that the target and others will return. you raised your price target on target and couple of days ago. what is the timeline when they clearly inventory challenge? is it now or in 2024? michael: they did it. their inventory as of this morning was either up or down 3%. it was essentially flat. down 3% at the end of the fourth quarter. at the end of the fourth quarter, we were up 3%. they really succeeded in clearing out those inventories. they started 2023 clean. that issues behind them. lisa

and it goes to the body of your work, we all enjoyed the carnage of 2022, whether it was 60/40 or spac'sness school. we have to -- the hallmark of joseph cohen analysis is that you have to be in the green -- the game. the people who are in cash -- away from the equity markets, speak to them. abby: many individual investors have to consider other things like their tax situation and the risk tolerance. all of my work has been focused on institutional investment -- investors and we have seen this reevaluation of assets in 2022 that makes me far more comfortable than i was, nine or 10 months ago. for bonds, 15-18 months ago when i thought bonds were incredibly overpriced and yields were too low and we have now seen significant change. the fed, like everyone else, will be doing a small increase this year but most of what they will be doing has now occurred and they might do a little bit more but after we have seen this extremely large rate increases, most of the damage has occurred to bond so that looks like -- there reevaluation and equities makes it more appealing. tom: i have to squeeze in

largest shareholder in wheels up we have a 20% stake with kenny that is the top end of the premium spacy >> the overall economy in your view is going to do what this year can you tell does it matter for you >> we had our recession the last several years. you couldn't have had a worse recession in the airline industry than what we had. the incremental spend that consumers have is prioritized with experiences look out here. how busy it is here. the buzz people are excited to be back out and seeing each other. that continues what you find is the most you do it, you realize why you did it in the first place and how good it is to be back together. the ages of doing this on zoom o recreate virtual moments there is no liking that. >> it is interesting to see the troubles at southwest in particular it looks like they haven't kept up with spending on the back end with computers and operations are ready to go. you haven't seen the similar problems what with do y-- what do you do to make sure to deal with anything thrown your way >> our people are our brand. the technology is enables people to do