President Biden, Jay Powell, Filipo Joins discussed on Squawk Pod

Squawk Pod


No know mad. You're probably doing the right thing as the fed chair. If you're making both extremes at the party's man but i was also thinking a think. President biden listens to that wing of the party. And here's the progressive dance. He starts moving. He's looking right now. And he's looking to cut deals with progressives. Because if you are going to be turning down the size of that three and a half trillion dollars plan you are going to have to throw some chits their way from time to time. And that's the one thing that i started thinking through. You may win some battles. You're going to have to give up on others and you know a couple of days ago. We started talking about this. If you are looking for the progressives to suck it up and vote on the bipartisan infrastructure. Deal i what are you going to give progressives that they're looking for this just happens to be something that is coming up and coming down the pike and i wondered about that. The one thing i'll say is if you looked at the snp financials yesterday. They dropped back down. Even though yields were rising and you would anticipate that would be good news. For the financials. It was that tough. Talk coming from elizabeth warren about regulating the banks and by the way. Even if they do do. Renominate jay powell. The vice chair position is also and they'll probably be looking for somebody who is a little more strict in terms of regulating. The financials to put in that position so that that could be why you saw the financials come back down. We should also point out. They ran up for four days away on the leading into this. And we're sitting at all time highs so it could be that too but there's some tough talk about regulation. The banks financials might very well be. Considering that united giving update on the status of the company's vaccine mandate filipo joins us right now with more and fill. There are almost six hundred employees who have not gone along with that today too are set to be fired yes they they will be fired over the course of the next several days once. They do the paperwork and everything goes through. Here's an update. On where united stands with the vaccination mandate remember. They set this policy back in august. Then they finally said look. It's going to have to happen. By the end of september ninety seven percent complied they get vaccinated at least one chapter a few who still need to get the second shot. Approximately two thousand who were seeking a medical or religious exemption. Those cases will play out over the next couple of weeks. We'll talk about that in a bit. And then you've got five hundred and ninety three thousand of the sixty seven thousand employees so roughly a little over a little under one percent who will be fired let go from the company. United is seeking or united. Should say i should say no expected impact on its operations because of the vaccination deadline passing and those employees being let go the company. Also as i mentioned they've got about two thousand employees seeking a religious or a medical exemption. There's a lawsuit that will play out over the next couple of weeks by october. Fifteenth united expects that to be finished in some fashion and they'll have to proceed in terms of giving them either a medical leave or a personal leave. Those policies have already been outlined all the employees with regard to the five hundred ninety. Three who were let go in an employees memo ceo. Scott kirby along with president bret hart wrote for the for less than one percent of people who decided not to get vaccinated. We'll unfortunately begin the process of separation from the airline per our policy. This was an incredibly difficult decision but keeping are keeping our team safe has always been our first priority that you take a look. At shares of united remember they will be deciding the vaccination exemption cases those exception cases. That will happen over the next couple of weeks likely by october. Fifteenth guys back to you. Hey fill it strikes me that you kind of covered the gamut in terms of companies responses to these things yesterday you were with us with the ford ceo and his position was we can't make people take the vaccine because it's really something that needs to be negotiated with the union. Obviously united has unions too but they came out on on this end of it. What is that a difference in the language that they have with their respective unit unions or is that just a difference in interpretation to matter of negotiation and it depends on the company becky with regard to the airline unions. Those discussions were taking place for some time because there is so much interaction between the pilots the flight attendants and the crews that are here at the airports with the public. Those conversations started much earlier than perhaps other companies in other industries and so they did work out that policy with all of their unions and early and they had a lot of bienne. I think when they announced this policy something like seventy five or eighty percent of the pilots and flight attendants were already vaccinated. So they didn't have to go as far with those workers as compared to other companies in other industries may have to when they say look. We need to talk about some type of a vaccine mandate. Yeah it's interesting. You make the point that they have so many of their employees dealing face to face with the public on a daily basis to which makes a difference. Thanks a lot. Bill next unsquashed pod. Get your glasses on worby. Parker is going public. Because ceos neil blumenthal dave gilboa are expanding their companies footprint and their revenue. Even though you know in certain places like new york people were be parker. We're just trying to make people aware that we exist. You gotta take a listen to this. It's swap pot that's right. Cnbc's flagship is new. Show is a podcast squawk pot this control to is not just the show folks to be even better. Because it's only audio join me. Katie kramer as. I take you inside the squawk box control room and beyond the headlines of tv broadcast with joe kernan becky quick andrew. Ross sorkin every weekday subscribe to squawk pot on apple. Podcast spotify stitcher. Or wherever you get your podcasts tracks fan provide this pot from cnbc and we've got a story you might want to take a look at another hot. Startup is hitting the public markets. Here's indirect oregon war parker going public on the new york stock exchange through a direct listing. The company will list under the ticker w. r. b. y. And the reference prices forty dollars a share joining us. Right now i on. Cnbc parker's co-founders inco's neil blumenthal and dave go good morning to both of you. It's been quite some time. I brought by the way. I've got my glasses here. I don't know which which models you're wearing. But i'm putting him on for today. I think i was trying to figure out. I met you guys probably about a decade ago. You started the company. Eleven years ago so here we are five billion dollar valuation. Why why why go public now would probably be the first question to ask so. We built a strong business. And we're just excited for a bigger stage here to amplify the brand and our impact over the last twelve months. We've generated roughly five hundred million in revenue but we still only have one percent market share so we just think that we have a lot of white space in front of us. And now the right time so dave you guys are adjusted profitable but not truly profitable yet just yet. Walk us through what it looks like to get to profitability. And what timeline might be sure so. We look at a variety of financial metrics and we found that our investors use adjusted does the appropriate measure of profitability for business of.

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