35 Burst results for "DR Scott Gottlieb"
Biden "convinced" 100 million can be vaccinated in 100 days
"Increasing. Vaccine supply tops. President elect joe biden's ambitious plan to fight tova san brock now with the reality check on how his plan could work and how quickly operating with the mindset. There's not a second despair. President president-elect biden is aiming for one hundred million vaccinated in one hundred days. Let me be clear. I'm convinced we can get it done. His plan includes using the defense production. Act to churn out. Supply pushing states to vaccinate more groups leveraging fema in the national guard to build sites and reaching marginalized communities. Let's start with a supply. How quickly the defense act. Create more doses. Dr scott gottlieb is the former. Fda commissioner currently sits on the board of pfizer. I think anything we do now to try to increase. The supply probably is going to take weeks to a couple of months to to have some kind of impact. The answer to that question directly influences the next part of the plan pushing states to reach a larger swath of people. I mean the biden plan is a breath of fresh air. Dr marcus. Pleasure represents state and local health departments and is optimistic but also realistic. It could take weeks to get production. Discuss real people over sixty five people with medical conditions. The poorest people who are essential frontline workers. All those people need to get the vaccine as soon as possible. We can't give back same doses that we don't have and when it comes to reaching disadvantaged in often minority communities the biden plan includes more sites an educational campaign plush points out the issue of trust must be addressed. We got to be attentive to that. What stays and locals can do is work with those communities. They have trusted relationships with organizations like base communities where they can go and really try to help build people's confidence and really address some of the vaccine. Hesitancy that we're already starting to see and the national guard and fema will federal muscle to add new locations for vaccination is try to expand the existing sites initially and we could see the result of that pretty quickly getting new sites up and running. That could be a matter of weeks. Joins us from miami sound. The biden administration wants to distribute vaccine through many different channels lakota. The president-elect wants vaccines in pharmacies. Big box stores grocery stores. But right now this part behind me and miami has paused distribution for next week because they don't have enough doses a game changer. And all this could be the approval of another vaccine like johnson and johnson potentially in the coming
Pfizer, Moderna testing vaccine against COVID variant
"Mutated version of the virus that's recently been found in the UK and other countries. The current virus. Of course, it's mutated before both companies say they found that their vaccines worked against other variants of the virus. New York Governor Andrew Cuomo, meanwhile, is calling for a travel ban similar to other European countries. For travelers from the UK. However, former FDA commissioner and current Fizer board member Dr Scott Gottlieb says it's likely the strain is already in the U. S. I think this is already in the U. S. I don't think the travel ban at this point is going to prevent this mutated strain from coming into the United States. I mean, we're gonna have epidemic that continues to build over the course of the next three or four weeks will reach a peak on then we'll start to see infection rates decline as we see vaccinations get rolled out, as you have fully 30% of the population probably infected at some point by the end of January. And as we get into the spring as we start to get into February march, and you get a seasonal backstop, so I don't think this mutated strain. Strain right now is going to create a second wave of you. Well, the question is, is this virus gonna changes surface proteins in a way that it can obviate either are vaccines or prior immunity, And there's no indication is doing that right now. But over time, it will evolve in ways that it could probably obviate prior infection or are vaccines to some degree, so we'll probably need to adapt our vaccines over time. Radio. And that's why we're seeing this mutation. Right now. This is probably result of
Covid-19 Live Updates: New Variant Causes Alarm Around the World
"There was more on this. Dr scott gottlieb former commissioner of the fda currently serves on the boards of alumina and pfizer. He's also a cnbc contributor latest op. Ed in the wall street journal focuses on on discussion that we had it at length. Last week Scott about some of the therapeutics and some of the bottlenecks or whatever's causing them not to be i mean logistically. It's difficult home infusion necessarily. We'll we'll touch on your your op ed. But let's talk about this. This new strain i. I looked into it a little bit more. Fourteen mutation seven are in the spike protein. Apparently there have been thousands of mutations already in this virus. So it's it's more contagious. I think what scares scott or what causes concern is if if it's mutating fairly easily. Is it possible there could be a mutation that could make it more lethal. This is not that this is more contagious. But it makes you think that if that were to happen that would that would be very concerning right and the other question is possible. That could be mutation that obviates prior immunity so people who got it again or slips past vaccines right this does appear to be. This is a mutation. The question is was this. The result of selective pressure so was this selected for because it's more contagious or was what we call. Founders effect just happened to get into london in london into some early super spreading events in became the predominant strain but it's not really selected for we. Now think it's selected for we. Now think that this is more transmissible. It doesn't seem to have mutated the surface proteins of the virus in a way that they would slip past our vaccines or prior union fact. We don't think that that's the case. But what this does suggests is that eventually this virus probably will evolve its surface proteins. In a way that they won't be recognized by the antibodies. We have right now. We will have to update the vaccines most viruses mutate. Is you know some viruses like flu. Evolve their surface proteins very quickly. And that's why we need a different flu vaccine every season some viruses can't really change the surface proteins like measles. This virus seems to fall someplace in between it's not going to change surface proteins very rapidly that spike protein but it will change over time and then the final point is that it's probably a good thing that we use the entire spike protein in our vaccines because what we're getting is what we call a poly clinical of response. We're developing antibodies to many different regions of that protein. So even if one part of that protein were mutated and some. Antibodies no longer recognize that they would be. Antibodies other parts of that protein. So this probably will not slip past. Vaccines very easily. But eventually we'll have to update the vaccine's antigen tests are different question and antibody drugs for that matter. If those tests surprised to a very specific region of that spike protein in that region undergoes. Some change it could potentially slip pass those tests. So we're going to need a way to monitor for these strains an update some about technology. Well hadn't even hadn't even thought about that. Well you remember the old days scott. There'd be a mutation it'd be like well. There's a mutation. All you had was the so-called the fina tight we can get the gene type immediately now within seconds literally maybe hours we can sequence the mutation so we got that going for us which which we never had before plus we have this new platform. This new messenger are a platform where you could easily. If you had to you could you could introduce a new version vaccine if it mutated around aren't both of those things positive right the advent of synthetic vaccines makes it very easy to update these vaccines and we will be doing much better surveillance and we've done historically using sequencing so We do that for flu sequence strains of flu. We're going to have to do that. The covert as. Well
The IPO Parade
"Recently in mid september. There was a big week of software. Debuts when snowflake unity jay frog went public raising a combined eight billion dollars before that the only weeks that saw greater issuance was in may of twenty nine thousand nine when uber went public and then september twenty fourteen when alibaba went public. Now woods different this time around. Is that the billions of dollars in new. Stock is coming weeks before the end of the year when most institutional investors lock in their performance for incentive fee purposes. That's when it becomes imperative for them to beat their benchmark and their benchmark is say the nasdaq. They're looking at gains of about forty percent. Beat that could drive. Demand as ipo's can of course be a source of alpha with the day one pop but it could also cause investors who are already ahead to sit. These deals out to avoid any last-minute risk-taking because that pop is all but guaranteed considering airbnb endured dash of both up their price ranges. it appears that they're receiving greater than expected demand at this stage in the game. Guys so leslie. I mean the funny part about some of these companies including everybody wanted to do at one point. A direct listing Is just i mean. Obviously they also need need and want to raise money but in this environment. It seems like you gotta you gotta raise the money. I think that's right. You have to raise the money in this environment. Especially if you're businesses potentially impacted by the next few months and who knows what's come with regard to to shutdown orders and the like and. I was thinking about this too yesterday. As i was kind of wrapping my head around this hit. I do wonder because with the direct listing. you don't necessarily get that same amount of interest from a listing at the end of the year that you might get with a traditional ipo. because it's the institutional investors that get allocation at the stock at what they hope would be a price that would be poised to pop on the first day of trading. So if you have a direct listing you don't really have that kind of incentive structure as you would with a traditional ipo. at the end of the year. i don't know if that actually change the calculus but it's certainly something that could be a tailwind further. Ipo in a traditional ipo process. Lizzy pinker great. Thank you knew. stay at home. Orders going into effect in california people in the southern part of the state as well as much of the san francisco bay area and other spots won't be allowed to gather with anyone. Outside their household supermarkets can only operate at twenty percent capacity and restaurants hair salons and playgrounds must shut down the new orders or rekindling debate from the spring about what should be allowed to stay open when the virus surges. Now when he joined us on friday new york times columnist. Tom friedman in on that question with this response we set up. It's crazy debate that it was mass or job you know mass or school mass or football and it never should have been that. It shouldn't mask for school mask for restaurant. Mass for jobs and people want to And and you know we talked about this. I was very early on thing we have to. We have to balance lies. In
Dr. Anthony Fauci criticizes Trump administration on COVID, warns US ‘in for a whole lot of hurt’
"He may fire Dr Anthony Foulke after the election. Don't tell anybody but let me wait till a little bit after the election. White House accuses Dr Fountain of playing politics after he commenced Joe Biden's approach to the pandemic and a new, candid interview with The Washington Post. Dr Anthony Fauci said the biting campaign is taking the pandemic seriously from a public health perspective. Like Mr Trump, whose view is driven by the economy and re opening the country Reporter we, Jang says. Dr Fauci warns the U. S is badly prepared for what's in store for us. Former FDA chief Dr Scott Gottlieb agrees around the country. I think Thanksgiving is really going to be an inflection point. I think December is probably going to be a toughest months. When you look at what's happening in states right now you're seeing accelerating spread US reports more than 500. 1000 cases last week, just under 100,000 Friday alone, it's not just a factor of testing, hospitalizations and deaths are up. The spread of Corona
COVID-19 deaths on the rise again in the U.S.
"From the Corona virus in the United States on the rise again to justice health experts had feared in cases are climbing in nearly every state average death per day across the country, Rose 10% over the past two weeks from 721 to nearly 794 as of Sunday, according to Johns Hopkins University data. Former FDA chief, Dr Scott Gottlieb, telling a CNBC right now the United States is at a tipping point where if we took some aggressive, targeted steps right now, we could potentially forestall the worst of it. But we're not going to do that. And I understand why there's a lot of fatigue set in and a lot of policy resistance to taking strong action ahead of you know this spread, so we're likely to see a very Dennis epidemic. I think we're right now on the cusp of what's going to be exponential spread in parts of the country. Stein ISI, Certain states and cities react because the epidemics and more dentists there in Texas, you saw some action in El Paso, Utah's building field hospitals. Wisconsin's done that to you are starting to see reaction, but I think it's going to take more before we start to see broader based policy changes that have gone on, ultimately turn the tide on the spread. Confirmed infections per day are rising and 47 states had deaths are up in 34. The state's California
Gottlieb warns of "dangerous tipping point" as virus spread accelerates
"Health officials continue to warn that the weeks and months ahead could be especially tough when it comes to the pandemic. Former head of the Food and Drug Administration, Dr Scott Gottlieb tells CBS's face the nation we are at a dangerous tipping point is, it's a little bad everywhere. We don't have regions where it's extremely dense and anyone region like we did when it was epidemic in New York or epidemic in the south outside of states like Wisconsin or Iowa. Most states just have a lot of spread. But most states aren't at the point where they're extremely press right now. That's going to change over the next 2 to 3 weeks. I think things are going to look much more difficult. Gottlieb says he's especially concerned by messaging from the Trump administration about a vaccine, saying that won't affect the curve. Over the next few months. He says, there's still time to take the necessary steps to stop the spread of the virus. But it needs to happen
"dr scott gottlieb" Discussed on Squawk Pod
"Some good news over. The weekend I it looked like Pfizer has already got hundreds of thousands of doses of vaccine ready to go so that it can go ahead and start getting those out as soon as it receives approval. If the test comeback show at save also saw that AstraZeneca's Oxford vaccine looks like they're planning on having that go available potentially by Christmas time. So just tell us where we stand tell us how we should feel about all the best. With the vaccine and as you know on the border FIS, which has one of the advanced products in development in a best case scenario if any, if these trials demonstrate that the vaccines are safe and effective, you're gonNA see emergency use authorization filings probably sometime late November that's what the companies have said it's GonNa take anywhere for two to four weeks review those applications. So assuming three weeks as a base case if the FDA authorizes those vaccines, it's going to be a very select population people who are elderly and high risk. It's going to take at least two to four weeks to vaccinate that population. And, then they're going to have to wait three to four weeks to get a second dose. So in case of FIS, vaccine is three weeks and the case of the modern vaccines four weeks. Then we'll have to wait a few weeks after that second dose in order to have full protective immunity. So we're looking at a scenario where the first trip people to get vaccinated, which are going to be the elderly population aren't gonNA have protective immunity from the vaccine probably until February march. So we're going to have to get through this next wave without the benefit of protective immunity from vaccine, and it looks like we're entering a pretty difficult period, right? Now that the cases are accelerating around the country, there's really no backstop here. There's not going to be a national shutdown. There's no therapeutic intervention that's going to dramatically turn the tide short of these antibody drugs, which I think are going to be very hard to distribute. As they say Wall Street Journal today and the vaccine really isn't going to start to have its impact until two thousand, twenty one. So we need to look at the fact that we're gonNA face a very difficult situation that we're going to get through. It would probably in the seventh inning of the acute phase of this this pandemic right now but the hardest part probably ahead. So, when you hear things like what happens with school and I know that the elderly population isn't going to have something available till February march but it's GonNa. Take even longer for kids to to get anything available because they haven't really started the testing on them yet or they're just in the early stages of that, right? That's right. So the vaccine trials are testing I think now twelve or thirteen above where there's amendments. And the protocol start testing down to about twelve. But once you get below twelve, you probably gonNA need to reformulate these vaccines into a lower dose because the vaccines and their current formulation. The current dose might be too potent for younger child, which is going to mount a better immune response to the vaccine, and so we formulating the vaccine child younger than twelve or thirteen is going to require new phase one phase two testing. Newsroom see work. So that's a long way off. The reality is we want to do is get the vaccine out to protect the population that's most vulnerable most at risk of getting vaccine that you can create some some semblance of heard immunity because that's going to ultimately protect the children. The children are not. Key vectors of this virus in the same way that they are with flu. So it's not pivotal that we vaccinate the kids because they're not the ones causing the community spread their vectors, but not on the same order that they are in other disease settings, and that's what the evidence really does show Dr wanted to get your reaction to the tweet. Doctor. Dr Scott Atlas. Of course, adviser to the president saying that mass don't work and then twitter's decision to take that tweet down. I think we lose sight of why we put the mass recommendation in the first place and why CDC was willing to recommend kloss cloth masks. It wasn't to provide you as an individual protection when you wore the mask to protect other people from you. If case you're an ace symptomatic spreader and the masks are affected for that purpose, they do cut down on your propensity to transmit respiratory droplets. So if you do have corona virus and you don't know it and you're out and about with a mask on, you're less likely to spread it. Now, most people want to derive some benefit from wearing a mask and most people can, but it depends on the quality of the mask that you wear cloth. Mask isn't going to protect you all that much. It's going to provide some benefit but not a lot and that's the data shows. If you wear a procedure maskell level three or level two procedure mask that's going to afford you a better level protection about sixty seven percent if you wear and ninety five minutes that's going to afford you very good. Protection you can wear that reliably and consistently. So if you WANNA protect yourself, the quality mass really does matter but just to clarify, are you are you? Are you telling us that telling viewers they should wear masks are you in the camp of a doctor skied atlas? No absolutely not everyone should wear a mask. If everyone wore masks, we would dramatically cut. Down on transmission of Corona Virus, I think what I'm saying is that people arguing, oh, the masks don't protect you the masks do protect you first of all I want to be clear about that. But the reason why we are asking people to wear masks isn't to protect individuals is to protect other people from you in event that your nascent dramatic. Spreader, if you do want to protect yourself with a mask, the quality of the masks does matter cloth masks is going to provide some protection. So I would recommend everyone contained provide wear cloth masks because not only is it going to provide you? Some protection is going to protect other people from you and that was original purpose of of trying to recommend. The USA masks but if you want to afford yourself a higher degree of protection quality of mask matters, we've said that all along. So try to find a procedure mask, and if you can get one try to find and ninety, five mess but masks work, they protect people most of all, they protect other people from you in the event that you. have. The virus and your eysenck dramatic and spreading it Scotla. Let's get to what you wrote about in the Wall Street Journal today, and that's just the idea that there's not going to be enough of these drugs or these antiviral cocktails or any of the things that you could use to try and ease Colbert when it when it when it hits How do we figure out who gets what I mean? It seems like. If you have money. If you have an end, maybe you're the top of the list is, is that how it's GonNa work. I hope not I think the challenge with these antibiotic drugs can be a bridge to vaccine. We've been saying this since April and May. We're not GONNA have enough supply unfortunately because we didn't make the right decisions back into ramp up production, we'll have a lot of supply heading into two thousand, twenty one companies done really good work trying to ramp up their production, but we haven't had a deliberate strategy I. Think the bigger challenge right now is what I robot in the Wall Street Journal today is for these antibody drugs. You really have to give them when someone's first diagnosed before. They're very sick ideally before they're even symptomatic. So they're going to be authorized for vulnerable patients, older patients initially because we have enough. So we're GONNA have to ration them and you're gonNA have to ask someone who's not in very sick to go into an emergency room to get an infusion because that's the government plan. The government plan is to distribute these inside emergency rooms and if someone's having corona virus and they have to go to the emergency room to get infusion chances either in a location where there's an epidemic, those emergency rooms are going to be overrun. So now you're asking someone. WHO's not very sick to go into an emergency room to get a three hour infusion knowing that there's an epidemic and it's probably going to be a long wait inside the yard for that drug and mind you patients are reluctant to take injectable drugs to begin with people a comfortable swallowing a pill, but they always perceive taking own infusion as something that's riskier. So I think there's GonNa be a lot of reluctance to use these drugs given the way the government plans to distribute them, and what we're advocating is that they should be distributed at home we should use home infusion to be. Administering these drugs the other challenge bringing people into the emergency room is that you're bringing them into the emergency room. So they bring covert patients to the emergency room. You're asking someone to take them to the hospital. So you expose a lot of people in the process versus sending a trained nurse into someone's home to give him a home home infusion nurse can protect themselves within ninety five math. So I, I, think we need to rethink the distribution strategy GONNA WANNA make use of these drugs this fall hey Scott. Quick. Just returning to the mass for a second quick question so I had. Years ago three M sent me a couple of ninety five they sent you know I got some tape and post its and all this stuff. So I had them ready to go and I've had since March and I've been wearing to everyday alternate. Used to microwave them. For a little while or no not Mike I used to put them in in two hundred and ten degrees in oven kill stuff I stopped doing that and now I just I, still wear them. Do they last forever that little thing in front. Am I still at an end ninety, five I mean they're not looking too good to people who see me I'd probably swap those out the other problem with you may have denatured the mass. First of all the other problem is that the band start to stretch out you don't get the tight fit there available in the.
"dr scott gottlieb" Discussed on Squawk Pod
"Be raised as to what can be published. People have made the point that Either way if if it's a big fake hoax, Russia spy craziness if it's that thing God that'd be a great story to know that or I mean it goes without saying that if they're authentic and it really is laptop that would be a big story I, I would WANNA as a twitter or facebook or mainstream meteoroid. I I. I would want to look very closely at all the details I just as A. For what's true and what's not wouldn't you? How do they get around that rationale? Yeah. Absolutely and even what you just said would be controversial at a lot of media organizations, a lot of media organizations. What does that? I didn't mean to I would say we're not. Kill this is the vice president's son. It's not him. Cetera let's not talk about that. But yes, it is. It is incredibly complicated and the idea that twitter is actually going to have their own team of fact, checkers go deep into a story published by another news organization CNBC new. York Times Fox, news before they allow transmission of that URL, that would be a huge turtle for them and I think it's why they reacted so quickly and said, whoops, we screwed up sorry about that. We're just GONNA put language tweets going forward but. Even that three or four months ago even then they didn't even do that, and now they're ranked newly putting language on tweets and and so it's they are they are whether they want to be or not. They are media distributors. They long had lines around pornography and drugs and things like that. Now, the lines are going to get even higher and eventually they will start to approach the lines that cable networks, newspapers, family newspapers, and others have always had to deal with and it's tough as you pointed out Joe Hey Henry you know. I. Love the Way Airlines you know you ever in the old days you'd look up a fair and it'd be to the penny no matter who you went to and it's like, wow, these guys talk or how does that how did facebook and twitter both know this is something we can't share how did they Jack talked to mark? They seem like they're not always on the same somehow they knew whoa. WHOA I mean, did they both know? That is a very good question. Very good story would love to hear your journalists and ours go deep into figure it out because it was very quick. I was one particular story obviously, very controversial getting get a lot of a lot of view and scrutiny and but yes, they both reacted I think what you're seeing is both companies getting beaten up by both sides constantly and they're getting more sensitive this and that is going to continue the environment is not gonNA change. Maybe when we get past the election, it calms down a little bit but it's not GonNa Change. You know something you can tweet out. It's kind of interesting though just switching gears totally. We got like a bunch of companies worth more than a trillion dollars and the technology makes up more of the market than ever before but you still. Aren't convinced that the valuations or at least I don't know whether you're saying they're not overvalued but you're at least saying it's not the same type of over valuation from the late. Ninety. Yes to both of those, they're expensive. There's no question there. You look at facebook and several of them are trading around thirty times. Earnings. That is a big multiple companies this size, but it is nothing like the late nineteen nineties even for big companies like CISCO CISCO I remember was seventy five times earning something like that. So and then the other factor this coming into, it is digital his mood. So deep into the economy that you've got a lot of companies that are considered tech companies that are really in. The retail business in the case of Amazon, the media business in the case Google facebook and so forth they really go beyond what traditional media is but they're expensive no question. But nothing like the late Nineteen Ninety S. so once we get through this election, I think there is some reckoning coming I don't know what it looks like there's two, thirty, six and two thirty survived as. Do. They self-regulate. I. Don't know what do you look into the? What is a very good question I think they have to continue to self regulate and I think they will. It will continue to raise the bar because it in part internally, you have a lot of dissent among people who run the work at the company's saying it. What are we doing? Why are? We contributing to this can't we be better and that is really going to drive a lot of it. It will also be very interesting to see what happens with section two, thirty and congress I think Congress will try to regulate I think as they dig in, they will figure out how complicated it is and they will also not want to hurt their. Ability to get their message out because a lot of this is the underlying messages. Hey, let us say whatever we want at least on our side. So it's going to be very complicated, but a high level I think these companies will survive and do just fine as long as they have time they can raise the bar and they'll get through it so. I don't think this is an existential event for them. All Right Henry. Thank you I, appreciate it, and and you know we be there the uncertainty is going to beat. I don't even know how I don't know what the Supreme Court would do on this issue. I don't know whether it be eight to seven or nine six or I mean who knows Who knows how they'll come down on next year? So anyway, Henry we. Appreciate it also with the Next on squad on former FDA Commissioner Scott Gottlieb on the chances of Cova vaccine. As winter approaches, we're going to have to get this next way without the benefit of protective immunity from vaccine and it looks like we're entering pretty difficult period right now, we'll be right back. Today's podcast is brought to you by pgn where the pursued is on for out performance with deep expertise to out think across asset classes out steer actively managing investments in global markets out scale with resources to serve fifteen hundred clients in fifty two countries and outlast with long-term conviction that looks beyond today's volatility. Join the pursuit of outperformance at him the investment management business of prudential learn more at PG M dot com. This is squawk pod. Here's Andrew Ross Sorkin. I don't know about you guys, but we've been doing a lot of testing in our house recently. Kids now for school actually have to do it weekly. So we actually have to take the stick and go up the nose with it and put it in plastic and they take it to school the next day. Going to school every day now. Every day five days a week I but they're not doing any testing mine are not I don't understand mine is I don't understand. It's IT'S A. Parochial. School a Catholic school in. In New Jersey I. Don't understand one day a week one day a week and it's tough. Really tough not for not for us. I've loved him. So it depends. I should clarify that for for the high school, they're only going a couple of days a week for the younger kids they're going five days a week. Days how five days a week? Yeah. Yeah. I high school they figure they can do a little better remote for the younger kids. It's harder and that's why in our school district it's different. It's said I, mean, I wanted to be safe and I worry and I know about immune systems in young people and you still worry but just socially and everything else senior year it's like..
Congress, White House expected to continue stimulus talks
"House Speaker Nancy Pelosi is calling on the White House to reconcile its remaining differences on a new corona virus economic stimulus package he's giving the trump administration a new forty eight hour deadline if it wants a bill by election day in an interview yesterday Pelosi said she's optimistic. Even amid all the back and forth Pelosi spoke Treasury, Secretary Steven. MNUCHIN, for more than an hour about the package over the weekend. What's what the forty eight hour deadline, and by the way it does that start today or was did that start yesterday like it's got to be done by tomorrow? I was thinking about the hour long conversation in just a long. Well. I just don't know the last time I spent an hour talking about anything but you know I think every day talking about stuff we do but not on the phone. Not on the phone for for a solid hour and I guess they both had landlines because that would you know? That would have been dropped like eight times. Don't you get your? Yourself Service. Any good I mean. Constantly getting. Dropping. Different. You know where I live, you seen the gates you talk about him all the time that the and the hounds and everything. The hounds remember with that Birds. Remember released cracking. I forget who said release the hounds. Mister. Burns. Montgomery Montgomery Burns. down. Yeah. No I just wonder I mean. I. Guess There's a lot to talk about. God. They've had a lot of conversations. It's gotta be hours and hours and hours by now between new and Pelosi. You know I I don't know notes Manusha that they are talking about the. Even right. It's the language that they're really talking about I. think even in the testing we we had MNUCHIN on the program back on Friday and he said that they were going to say, okay to everything they wanted to the language. They are still arguing back and forth about the language just about testing about may versus must recommended versus required i. Mean it. It's down to words like that, and that's why you end up spending an hour on the phone
"dr scott gottlieb" Discussed on Squawk Pod
"Same problem to our social health. But I think there's going to be something that sweeps everybody up in the same sort of. What the same brush I'm mixing my metaphors. Worry about you know the Europeans I mean if they had founded and. The homes of these major tech companies I wonder if they would be you know taking this kind of aggressive attitude. I worry about this coming from people who? Also feel a competitive disadvantage at the same time. Maybe we should begin an ecosystem discussion here in America where we bring together, you'll legislators regulators, companies and consumers into a new kind of dialogue not not just sitting back and waiting for the antitrust department to take on these companies but actually begin a dialogue here and to find what is it about these companies who want to preserve where is their monopoly power actually harming consumers and innovation and I think we should get ahead of that conversation not wait for the Europeans to do it. s bomber was with us last week. I think it was last week who knows the days run together but he said that he thinks these CEOS from these companies need to sit down with the regulators and be serious about it and say, what do you need us to do get in a room and start making it happen with the hindsight of what Microsoft had to go through. Do you think any of these companies facebook Amazon Apple Net flicks? Alphabet. Any of those companies are more likely to be the first one to do that successfully you know that I don't know. You know I know bigly the leaders of all these companies over the years as a journalist and you know all smart people but. again, I really distinguish between. The tech enabling platforms and Facebook, which I think is become toxic. Point. I don't think Soccer Berg would be the first one. It'd be able to do that for sure. Maybe. Maybe basis maybe Tim. Cook. If you think about the people who have been pretty good at navigating a lot of pretty crazy things that have come to this point your abuse healthy. Chelsea, we can leverage the European. Sure but I wouldn't want them running the show on. Right that's a really good point. Hey, Tom, it's great seeing you. We hope to see you again soon but thank you for your time. Always. Thanks becky. Next on Squawk Todd, sports are back in the stadiums, but fans are mostly missing from the stands and the TV ratings I'm the spectators stands a little repealing the age a little bit more. I need those spectators and those fans will bet on a game to kind of fill in a little bit more Amanda to lose money even betting on the Laker, we'll be right back. You're listening to Squawk Pot. Here's Joe Kernan. Lot. Of Sports yesterday this is one aspect of it. The Los Angeles Lakers leaving the NBA bubble with the trophy. The Lakers won the twenty twenty NBA championship last game six over the Miami Heat. It's the teams first title since two, thousand, ten and the seventeenth. Total. Championship which ties the Celtics for the most of any team and Lebron. James. became the fourth player in history to win a championship. Now, with three different teams, it was A. A boondoggle plethora yesterday of things to watch. We had A. We had the raise, the Tampa Bay rays playing. HOUSTON. Lost money there. But I I did make little on the first the because Houston scored I I managed to lose money even betting on the Lakers. Do. that. Because I had the over the over was stupid stupid lesson yet. Dummy when you bet five dollars and you do you pick the team to win at the end the over the. Just. Don't do the over under then you get like if you bet on the Lakers, put five dollars down you're GonNa win eight dollars if you bet on the over there so the last game the. Game a couple of days ago they I mean it was like two hundred and thirty points or something last night I'm like and I watched the first the I. Guess I watched about the first half and it's like. Okay the Lakers defense a really ramped it up but it's like the heat it's like you guys were you were so good you Jimmy Butler what's going on site? The Lakers just really smothered him. I don't think they got the two hundred points much less to fifteen but I'm okay I'm okay I did okay with what else? Oh. I'm GONNA sound like a total addict I did have money on on who would score I in the Lakers. Win The tip almost every single time they win the Anderson here. This is so bored already, but anyway, they win the tip the first even though you have all those basketball cards that's right I don't understand they win the tip the first time a lot of times they go down and throw a clunker up at this time. Perfect. So that was okay. Anyway sports viewership numbers though continue. To disappoint compared to last year events like the NBA Finals Baseball playoffs, and even football of seen some pretty serious declines. One Bright Spot W NBA finals despite Assyria sweep for the Seattle storm viewership increased fifteen percent year-over-year join us now our own Jabbar Young CNBC DOT Com sports business reporter and Patrick Rich. Director, of the Sports, business program at Washington University, in St. Louis Jabari just start to are, are you watching more less or the same sports now that we're all like basically kind of locked up at home I'm watching so much more than I. Don't really understand the ratings. You know. I'm actually watching a little bit less on days and then I'm watching a little bit more depends on you know the game, his feeling. And I think that's most of America you know with with so much sports out there and all of that But you know the sports as well as other things that you want to watch. Now you know you won't Netflix's more Disney plus more on our distinct march level in the NBA close down other leaks follow you started to see people get their lives back in some way and. Utilize it in other ways when he go tune on the tournament television and I don't think it's always sports all the time, and again, you know so much sports out there. But you know the consumption habits has changed. You know to make no mistake about that and sports ratings are climbing cousin. Patrick, it has to do with streaming I. Guess as Jabari pointed out also a lot going on for me. It's like you know I started with the French Open yesterday and watched you know an adult just dominate and then I had my choice after that I, you know all then fell you got the the you know what turned out to be the final game of the of the NBA, and then you even hear the start of the American league. Championship series. So I don't know I feel like maybe I need to get a life or something outside the house because I'm totally. I'm totally happy and we waited for it and I thought we waited so long for do we? You know? kind of embarrassed that people are more excited about being able to watch these. Well, Joe I think at the very beginning when the NBA came back, they did have a an uptick because there was nothing else going on what's happened since is there's just a glut there's so much to consume. As you mentioned last night, you had the NBA Finals you had the game one of the American League Championship series and you had a Sunday night football game between the Vikings in the seahawks wanted the in the in the dying moments by Russell Wilson. So I think this is a big part of it now. We can't overlook the fact that clearly right now we have a very contentious presidential debate and the cable news ratings are very high right now, there are over thirty percent increase from last year generally speaking sports ratings do decline in election years, and of course, this year is but I don't put a lot of stock there may be a small minority of people that are not watching these games because they have issues with social justice issues I think that is a very, very, very small percentage of why the ratings are down. And I always talk about for me. It's an agreement was just thinking about it if it was..
"dr scott gottlieb" Discussed on Squawk Pod
"dr scott gottlieb" Discussed on Squawk Pod
"Tracking the COVID thousand nine outbreak at the White House with Dr Scott Gottlieb. I think there's a lot more at the White House staff could have done. They had a system in place where they basically were depending on testing alone to keep the president safe because they weren't taking adequate measures inside the White House compound discerning the president's condition with CNBC's make to. Route doctors that I spoke with over the weekend point out that an oxygen level of ninety, four percent or less which has doctor said the president reached twice in the last few days does.
Instead of Reassurance, Trump's Doctor Delivers Confusion
"Physician's comments Sunday about the health of the president amid his Corona virus diagnosis, adding a new layer of confusion even as the doctor sent to clarify Contradictory statements from just a day prior, Dr Sean Connery Connolly, I should say, said President Trump was given a steroid after his blood oxygen level had dropped suddenly twice in recent days, but Quote he's continued to improve since then. Now Connolly is that he purposely left out the president's severe symptoms and oxygen use a day before because he wanted to portray Positivity told us that the president was in great shape. I've been in good shape and fever with the previous 24 hours. Minutes after your press friends. White House Chief of Staff Mark Meadows told reporters that the president's vitals were very concerning over the past 24 hours. A simple question for the American people whose statements about the president's health people. So, uh, chief and I I work side by side, and I think his statement was misconstrued. What he meant was that 24 hours ago when he and I were checking on the president that there was that momentary episode of the high fever and that temporary drop into saturation, which prompted us to act expediently. Move him up here. Fortunately, that was really very transient. Limited episode. Ah, Couple hours later, he was back up mild again. I'm not gonna speculate what that episode was about so early in the course. But he's doing well showing any irregularities today with his clothes. The president had been administer oxygen. Ah, that's a good question, trying to reflect the upbeat attitude. That team president, there's course of illness has had I didn't want to give any, uh, any information that might, uh, steer the course of illness in another direction. Um, and in doing so, you know came off. They were trying to hide something wasn't true. And so have I have it? Meanwhile, the president up and running this morning we know that he is tweeting about Ah segment on Fox and Friends. President Trump has received a dose of an experimental treatment from Regeneron, which doctors have mixed feelings about given that the antibody cocktail has not been Been approved yet. But former FDA commissioner Dr Scott Gottlieb told CNBC while he was surprised by it, it's not necessarily a cause for concern or alarmed regarding the president's health. Look, it was a question of whether or not they were going to use one of these antibody drugs or used from destiny destiny there would have been used effectively off label the emergency use authorization for the drug from Destiny, which is an anti viral drug that suppresses viral replication. Is for hospitalized patients. Now I would have thought that they would use from death severe because there's more data around that drug at this point to suggest that it does have a treatment effect on DH. We are seeing that drug being used earlier and earlier in the course of the disease, so using it in an outpatient setting. In a high profile individual where you want to provide treatment isn't that far from where the drug is currently being used the Regeneron product, which I think has a lot of promise, and I've been Very bullish on these antibody drugs Generally for many months now, it's still very early. We just have very early data on that drug. And so I think from a clinical standpoint. If you have one shot to provide therapy, you want to provide the therapy. They have more certainty around and that would be room disappear at this point, and they really only have one opportunity right now to try to get a drug in They may have another opportunity down the road. We hope not, because that would probably mean that the president is continuing to progress. The president has not transferred to powers to Vice President Mike Pence by special President Mike Pence now becomes the campaigns that vocal point on the stump. Although the president as I mentioned tweeting this morning About several voting issues and a segment he saw on Fox's Fox and friends. The vice president will take on his opponent, Democratic Senator Kamala Harris. On Wednesday, Senator
Testing Positive: Coronavirus Contact Tracing at the White House
"Have some breaking news this morning just. President trump and first lady melania trump testing positive for the corona virus the president tweeting just before one am that he and the first lady will begin their quarantine and recovery process. Immediately, we got a lot more on the next steps for the White House and testing others who may have been exposed from Dr Scott Gottlieb. But before we do that, I want to get straight to image Jabar's. In Washington, who has been working this story all night and has the latest for us. Amen. This news began to unfold last night with a report that hope Hicks. One of the president's closest aides on his campaign had tested positive for the coronavirus. Then there was a period of time where we did not know what the president status was but hope. is obviously a close personal. Contact with the president on a regular basis, and in fact, she's been in close personal contact with a number of senior administration officials over just over the past week traveling with him out to venues into the presidential debate take a look at this list that NBC News is put together of all of the people inside the White House who had been in contact with hope. Hicks just this week on this travel more than twenty officials here who've been seen with hope. Hicks. Not necessarily always wearing a mask touching some of the same handles as they go up the stairs to air, Force One obviously on. The plane moving around all of those people will now have to be contact traced and tested, and you can imagine the scale of the effort that is unfolding inside the White House. This morning as they try to figure out who has been exposed, who has covid where this is all going to land meanwhile, the president defending himself earlier in the week remember that debate on Tuesday, the president was asked about his decision to continue holding large in-person rallies a lot of these rallies where the the people in attendance did not wear masks. The president said he simply had to continue on the campaign trail. Here's that moment. In any case why you holding the big rallies y you not? For her because people want to hear what I have to say well so far we have had no problem whatsoever it's outside that's a big difference according to the experts we do them outside. We have tremendous crowds as you see, I mean every and literally in twenty four hours notice and Joe does the circles and has three people someplace. And now we're getting international reaction rolling in guys as well. Take a look at this tweet. This is from who sesion. Here's the editor of Global Times in China and viewed as somebody who is very close with the Chinese government in Beijing. Often tweets reflections of their views on the world. He is tweeting this morning president trump and the first lady have paid the price. For his gamble to play down the covid nineteen, the news shows the severity of the US is pandemic situation. It will impose a negative impact on the image of trump and the US and may also negatively affect his reelection. So many unanswered questions here guys in terms of the campaign, the stimulus, the battle for the supreme. Court. All of those ongoing right now clearly, campaigning activities will not. Be Able to continue on the president's side as normal for some weeks. Now, no word yet from the Biden campaign about what their plans are in terms of the stimulus it's sort of an unknown at this point how this will affect those negotiations which are ongoing as we speak, and then in terms of the Supreme Court, it's likely that Congress will still continue to push forward but. Everybody involved in that process will also have to be contact traced and tested as well to make sure that anyone who has come in contact with the president over the past week including amy, Coney Barrett herself. The president's nominee for the Supreme Court gets a negative test before moving forward guy. So a lot of moving parts of this morning aiming before you go, let's just walk through. The contact tracing and what the circle might look like in terms of who has been in contact with the president. Obviously, the Biden campaign given the debate You mentioned the Supreme Court nominee how big a circle are we talking about here? Well, it's been a limited circle in recent months. They have made efforts to keep the president out of contact with as many people as possible but. It's still you know dozens of people who come in contact with the president on on a regular basis you know there's a hundred people are more flying on Air Force One at any given time including all the staff aides, military folks and everybody else involved in that process, and we've seen the president on Air Force One, a couple of times just this week and hope Hicks we know. was on Air Force One without a mask this week as well. So it's a large number of people I would imagine there are hundreds of people here who are going to be implicated. There's a lot of detail here to be gone through and you can imagine health officials the secret service capital police a whole range of other authorities in Washington are scrambling aggressively this morning to figure. Out what the damages and to contain it as best as possible,
"dr scott gottlieb" Discussed on Squawk Pod
"Amount of I mean conference space MGM s four, hundred, sixty restaurants. They have hundreds of venues brainer taming from two, thousand, sixteen, thousand to smaller venues the the the the very idea of Las Vegas built over the last I don't know hundred years or so or seventy five years. that. Dot Place where where there is so much pound for pound entertainment ch, and by the way at all levels from the very highest level to middle to transient to leisure it is a place that you that again. I don't think you're going to build a anywhere in the world certainly not in Saudi. Arabia and they're talk of this kind of Neum neom city or whatever it's called glut. Las Vegas is without question when it safe. We'll come. Back. Without probably bigger just in the early period just because of people's explosion of people wanting to get back to life. I think the same is true travel of course, and but you can't get travel back until you get. Planes and and regulations. Air Regulations. Territorial. Into a place where people can without worry go they WANNA go? The thing is flying in a plane is safer than about any place other than Probably being on a beach with the wind blowing a against you the. Air's refreshed every three or four minutes. It's utterly safe. So. Managed to taxpay- taxpayers be continuing to support the airlines. Well. Yeah. 'cause if you if you actually lose the look the thing about Las Vegas. That infrastructure is GONNA stand. There's you can't take away I mean. Take, the away people will come back. The place was still be going the lights will be on the problem with planes is air. Airlines's if you actually because there is just no business to sustain it. If, you can't rebuild. These things is going to be really difficult very just listening to what you're saying about airlines being very safe places because they circulate the air I mean there have been documented cases. I was just reading another one a couple of days ago about cases where people picked it up on the plane, not not even just in coach, but also in first, class? where You think you have a little more space. These were early on in the pandemic. So I don't think people were wearing masks in the same way that they are on airlines. Now general when you're talking about this, when you say you keep moving out the date, it's because we'll watch the hell going around. Do you have experts that you're talking to when you're trying to figure out you're. Preparing for how this works when you get it. Until there is a vaccine. Nothing you can't you can't be certain about anything it's. To me been I think it's absolutely true that work from home does not work I mean it can work in little bits and pieces does not work. How do you get the right? Now some of our offices are open. And, we said to. PEOPLE IN OUR COMPANIES COM. It's safe here we're all the protocols all that we won't demand you come. If you don't feel safe and guess what no one comes. That's the experience of I think almost everybody in a in any of the earliest openings of opposite. So you're this day by day I. Mean I said that for instance with Expedia on November? Fifteenth Me Is the last day. You could say to people. Okay. Plan to come back to work in January. Because people have to make their plans and do all of that stuff. I was really hopeful that that when you got get to that day that you could say, okay, come back January first. I don't believe that's probably true now. Because again, the the daily thing you you don't have to go far to learn that everybody is telling you it's still not safe. So until you can get the demarcation line again I think it's probably Realistically, if you could ever used that word in this craziness, it's probably June of next year before you can say by the way. Employers are going to have to say you are coming back to work. Out unless you have some reason absolute reason that you can't but you're coming back to work. Until you say that nothing is going to start again. And by the way in New York City. Safest Place, there is probably right now. Can't go to school I the idea you. The precursor to all of this is getting schools open. And were. United States has done about the worst job of anybody in that regard. Barry. Let me ask you about the implications of this time on, which is obviously a longer time than I. Anticipated earlier and a lot of people had anticipated earlier. But what are the implications as an investor? And as a businessman who's thinking about what the world looks like if in fact, the world is is shutdown or at least slow down between now and next summer effectively. Does that mean there's going to be trying to keep a lot of cash on the sidelines because you think there's going to be more and more opportunities because certain companies won't be able to make it through how are you thinking about all of that? Both personally and professionally every nickel you can keep it in whatever bank who whoever it's banked You just I just think now is the time I mean look we made a significant investment. A billion dollars in. MGM during. This period. And this the crisis allowed us to do what we thought was. Extremely, money good meaning. We.
"dr scott gottlieb" Discussed on Squawk Pod
"Dr Scott Gottlieb, we are seeing pretty sharp take care of the United States now whether or not that's opposed Labor Day bound sports the beginning of an uptrend heading into the fall. It's unclear right now deal or no deal media mogul expedia and ICY Chairman Barry diller on the TIKTOK. Oracle. Bite. Dan's government situation Komo deal. So I don't know that it means much of anything at the moment. The whole thing is a crock and lucky for joe another spiked seltzer for him to try Coca Cola aims to release its first hard seltzer in the first half of twenty. Twenty one. They're light and I like all flavors. It's Tuesday September Twenty Second Twenty Twenty squad pad begins right now. Good morning everybody welcome the Squawk box here on CNBC I'm becky quick along with Joe Kernan Andrew Ross Sorkin, and we're GONNA start with the markets this morning after yesterday's Big selloff on wall. Street the Dow was down by almost a thousand points at one point during the session but close the day down by just five hundred, ten points. That's the good news is a decline of about one point eight percent. The S. also fell by more than one percent. It made a recovery as well, and then if you were watching the Nasdaq that was a bit of a miracle comeback, it closed down by just A tenth of a percent after a late day rally guys, this has been pretty interesting watching the course of what's happened over the last month we are talking about down month potentially for the markets as we get deeper into this month, we have looked at four sessions in a row that we've been down for both the SNP and the Nasdaq, that's the longest losing streak we've seen since all the way back to March. But again, if you're looking at some of these numbers, you're just talking about the lowest levels for the Dow since August and the lowest levels for the SNP and the Nasdaq since late July. We had month after month. Context month after. Month I think we had April May June July August all up. Aren't they or close to it yesterday stocks only go up they only go up not in September September's important month but always kind of typically week month. But in an election year with an incumbent it, it can take on added significance yesterday the Nasdaq I looked at it. It almost came back three hundred points I'll quiet when I find look almost two hundred, the Nasdaq can. Move Man I mean that that can move that can be you know we can see it down four or five hundred points, and then it's down you know fifteen points and like what I bet that the Nasdaq closed higher today I have no idea it's up now and that's a pretty good moo seventy points compared to the others but that could you could look at it mid morning and it could be totally different and then the rest of the. It's not the tail at this point seems I get kind of the of the dog you know Anyway. Especially, because those big tech stocks makeup such a huge percentage of the overall. SNP. Market. Cap Caplis of. These things in the leadership two moves. Yeah. For All of these things. Made a pretty impressive comeback rally yesterday too crazy risk off yesterday though a gold that's supposed to go what Bitcoin is supposed to go up on things like that happen and it it's weird I it just seems like that's where you'd start. We're thinking about it's just money you know what I mean it's just Zero percent and I I was digging into the Dow yesterday because the Dow was so weak at one point I started looking through Dow components to see which ones were the weakest at any given point Dow the Dow Component Dow was under significant pressure. It was down by more than six percent but then he saw declines of more than five percent for for stocks like Caterpillar you know it was the industrial names that were really getting punished Chevron and and and that could be traced back to this idea of if there is a second lockdown the. That, maybe that's something that people start worrying about. Those were the ones that are expected to be recovery stocks as the economy continues to improve, and those were the ones that really faced a lot of pressure yesterday at least among the Dow stocks. Coca Cola CEO, James Quincy Tells CNBC that the company plans to release its first hard seltzer in the United States in the first half of next year. This is the first update on the product since it was first announced back in July. Here's what Quincy told. Kramer last night on mad money. We're GONNA follow the. Consumer. y'All days people much more regimented about the category, State, stadium, and there wasn't so much lowering up by consumers of mixing matching categories and think these innovations we've seen including hot Celta are trained to the consumer looking for new things. Coca. Cola plans to release the hard seltzer the to- Chico brand that had acquired back in two thousand seventeen. It will be the first time. The Coke has had a presence in the US alcoholic beverage market since it sold its wind business in the early nineteen eighties and guys I have yet to try any of these hard seltzer. Taking, people taking these storms I know you're into Joe love him yeah. I really have enough. Liked their light and I. Like all flavors I decided I've been. Mostly, White Cli- Andrew, you can get a little variety twelve pack. You can get a comes with the brass. I'm. Do. You guys remember Zima do you remember Zima? That's a beer. That's a better filling beer this. Look here's even sit Lewis Clear. It doesn't matter. It was heavy and fill it tasted like a big Karbi beer. This is no this is I haven't tried any of this. Does it taste like Bartelson, James? No God no. I wouldn't be caught dead with wine cooler. Becky. Here's what it tastes like. Okay. You Go from drinking soda and then you say, wow, this artificial sweetener might kill me quicker than sugar. So you're saying I'm not GONNA do that. Okay. So then you start drinking the the Poland springs lime or the raspberry lime or the And then that you get used to that and it's great just add a little bit of our gateway go up. It's like a it's like a Poland Springs Seltzer. Lime Seltzer with just a little alcoholic perfect. You can have a couple of for movie was your gateway. Gateway drug for this. Yes. That was my gateway and actually that's true about Andrew. Because we remember we ask them as one vice and he goes well, I don't WanNa really admit to it on national TV but I do during sparkling water that was your Vice Sarkin that was remember but then he's actually been drinking Dick De. Is Bad for your teeth. Is. It went t thirteen on. With a Straw. Drinking with a straw if you care about your teeth a paper Straw to in your. Environment. Your teeth of the. Metal. Straw then I guess this is reusable Straw. This was a big culture shift because you know the beer beer is just it's just too heavy. You know. Those first six go down. So smooth you know what I mean and Why laughing. Coming up on Squawk pod. The U. K. is working to ward off a second wave and America is heading into flu season I. think that there is a real risk that we're GONNA see rising cases towards the end of this year. Now, that said, I do not believe that we're going to reach back to certainly a national stay at home order Dr Scott Gottlieb when we get back. Takes conviction to see beyond the turmoil in today's markets. That's PG the investment management business of Prudential with a legacy of risk management discipline and investment experience through thirty market cycles. PJ is prepared for today's challenges. P Jim Brings long-term perspective and deep expertise across public and private markets globally outlast today's uncertainty with PG find out more at PGE DOT com. That's PG I am DOT com..
Gottlieb says health officials "failed" White House in early COVID response
"Meanwhile, President Trump's former FDA commissioner, Dr Scott Gottlieb, told CBS's face the nation Sunday that the White House leadership was failed by health officials early on during the current virus during the pandemic. Look, I think in this respect the White House leadership was failed by health officials. We did not have a diagnostic in the field so we couldn't screen for it. We should have. We should have started working on that in January, and we over relied on a surveillance system that was built for flu and not for Corona virus without recognizing that it wasn't gonna be a sensitive in detecting Corona virus spread. As it was for Blue because the two virus has spread very differently. Those were two critical failings. Now you could say, Well, the president put those people in place. He's responsible. You could make the second order arguments around that, but I think ultimately the White House did not have the information they need to make decisions. Key function of agencies in the government to provide policymakers with accurate, actionable information. The White House didn't have it, and I had a lot of conversations with White House of this time period because I was concerned it was spreading here and I was pushing them on and they were. They were telling me over and over that they were hearing from top officials. From the agencies that they were pretty confident that it wasn't spreading here. I think when history looks back, that's going to be a key moment. That's what was going on over February. So godly, preparing to put the blame on health officials on Sunday late last week, though, when pressed on the president's words and actions in March, golly but spread the blame
"dr scott gottlieb" Discussed on 600 WREC
"Commissioner, Dr Scott Gottlieb, giving his assessment of the latest numbers surrounding the Corona virus pandemic. There's been a fairly persistent level of infection, hospitalizations and deaths. Over the last couple of weeks, we've had over 1000 deaths a day for at least two weeks now over 50,000 infections a day. On average. We hit 55,000 in the last day. Hospitalizations have come down a little bit, but they haven't really started to decline very rapidly and on the pandemics movement. What's happening is as the cases start to decline in the Southern states, Arizona, Texas, Florida. We're starting to see infections pick up in other parts of the country. California's still increasing, really the only state that seems to have come down quite a bit of the epidemic. Sunbelt states is Arizona, Dr Gottlieb on CBS has face the nation. I was Governor Kim rentals asking the federal government for nearly $4 billion to recover from an unusual wind storm that hit the state last Monday, killing at least three, leaving thousands without power and extensively damaging crops. The United Arab Emirates now just the third country in the Middle East, to officially established diplomatic ties with Israel, a new agreement brokered by the Trump White House. Receiving praise around the world, and it will put a pause on Israeli plans for the annexation of the West Bank. Israeli Prime Minister Benjamin Netanyahu, this piece unites moderate two of the most advanced economies in the world is well in the United Arab Emirates and two of the most moderate. We're fighting Iran and the radical Radicals who are trying to overthrow the entire order in the Middle East. The prime minister on Fox's America's news headquarters. Texas Army National Guard Soldier has died during a training exercise at Fort Hood, 36 year old Bradley more died Thursday during land navigation training. Foul play is not suspected, and the death remains on her investigation. I'm Paul Stevens..
Moderna pitches virus vaccine at about $50-$60 per course
"Making headlines. Madonna. Is, reportedly, planning to price its corona virus vaccine at fifty to sixty dollars per course. That's at least eleven dollars more than another vaccine proposed vaccine from Pfizer and buying tech. The Financial Times reports price would apply to the US and other high income countries, but that the final price has yet to be determined.
7,000 children test positive for Coronavirus in Florida
"Eight thousand number of cases confirmed in the United States a new record and seven thousand, the amount of children who have now tested positive in the state of Florida alone since March Dr Scott. GOTTLIEB is the former FDA commissioner now a CNBC contributor he joins us once again Dr Gottlieb's good to see you. Let's begin with these cases of children in the state of Florida. How alarming is this? What does it tell us about? The age groups now that are susceptible to getting this virus. Well we always knew children were susceptible. The belief is that they're less susceptible than adults, so they're less likely to contract the virus than adults and that when they do get the virus, they're less likely to have a bad outcome. Data seems to support that, but they're not impervious to the virus. They do get sick. They get infected and we have seen some bad outcomes in. In children, we also don't know what it looks like. When this virus becomes epidemic in children, we don't know how many kids have actually had corona virus. There aren't any good seroprevalence studies to look for antibodies and kids to see what the exposure has been in children, and it might be the case that a smaller percentage of kids in the United States have had this infection. Infection at this point in adults on a relative basis, because the very first thing we did when we had these epidemics was closed the schools, and so that that closed off an avenue of spread, and I would venture to guess that parents with school age children were probably more here into the at home, mortars, wearing masks good hygiene because they were doing those things to protect. Protect kids, so might be the case that a smaller percentage of kids have actually been exposed, and so we don't know what it looks like. When this becomes epidemic and children in the same way for example, flu becomes epidemic and children every year, if the virus outbreak stays at the current pace. Are we going to be able to send our kids to school in the fall? I don't think so in the south. I mean if they don't if they don't correct the situation and they don't have a lot of time to do it in states like Texas. Georgia Alabama California Florida Arizona. It's going to be very hard for local school. Districts parents on boards of local school boards to make decisions to open those schools I think in the northeast we will be able to open schools in the north I. Think Parts of Northern California San Francisco be able to open a schools. We should really try do that. There should be an emphasis on doing that because we might be in a situation where we have to close the schools again later on. On in the school year, getting kids back to school socializing them, get him started on classroom learning. If we have to go to distance learning on a selective basis as outbreaks occur, it's going to be really important to get them back into the classroom. At least for a period of time, I think a lot of states in the south really have lost the opportunity do that because they have to make those decisions and July those schools open in August in many in many cases, and so they're probably going to start the year with schools closed in a lot of parts to those states. Do we know anymore Dr Leave about that syndrome that had been affecting. Growing numbers of children and we haven't talked about frankly in six weeks to two months. So there was a really good analysis studying published in the New England Journal of Medicine about two days ago that I would encourage people to take a look at that gives sort of a qualitative assessment of ninety nine cases in New York City, it appears to be opposed by real syndrome that occurs about a month after the virus. What we still don't know is what is the total number of kids who had the virus? We know how many kids had. This syndrome appears to be sort of a post. Viral Inflammatory Syndrome could be quite severe sort of like a Kawasaki Type Syndrome. When you get inflammation of arterial vessels it could. It could have disturbances heart. It's treatable, but we don't know how. Many kids are in effect with corona virus, so we're seeing one hundred cases, and there's been one hundred thousand kids infected, or we seeing one hundred cases there. There's only been five thousand ten thousand kids. In fact, it's probably the case that a lot of kids have had this new. New York City and it's a low incidence event and you do see these similar post viral types of syndromes with other viruses including corona virus, where you also see it on rare occasions, a Kawasaki Type Syndrome, with other forms of Corona virus, and so when you see these epidemics, viruses enter a virus echo virus sort of move through population. You will see a month later three weeks later. A preponderance of these post viral kinds of syndromes, so this isn't that unusual in many respects. We just don't know what the incidences of
Gottlieb expects COVID deaths to rise again amid "major epidemics"
"After a hard six months ahead the group prediction from the former FDA commissioner Dr Scott Gottlieb and what the U. S. faces in the corona virus battle telling CBS's face the nation infections will continue to rise in states with soaring infection numbers we're gonna have many weeks ahead of us have continued growth in these cases at least two or three weeks even if we take aggressive actions right now which across the board we're not doing that leaves as many states have been re opening too quickly without waiting two weeks between phases he recommends universal
New Jersey Governor Phil Murphy on concerns of a rise in coronavirus cases
"Earlier this week, the governors of the tri-state Area New York New Jersey, and Connecticut announced that visitors arriving from states with surging coronavirus numbers will be asked to self quarantine for fourteen days or face fines. Here's Becky. We welcome Governor Phil Murphy from New Jersey. He's. He's been watching his state open up after four long months and and governor. Thanks for being with us this morning. When you get out there, you really start to see people who were back out in restaurants again going out shopping out of beaches and parks and a just wonder as you watch this. If you worry that, we're going to see a rise in cases, and what numbers you're watching how you're measuring this to decide if we're doing this the right way first of all, it's good to be back with you and we do worry. Which is why we've been taking this in very specific. Phases in terms of reopening. Outdoors is a lot less concerning than indoors. That's not to say there aren't concerns outside, but the the concerns pale in comparison to say inside lacking ventilation sedentary close proximity. That's a bad. Those are bad characteristics for this virus. The things we look at most closely in terms of our guides are rate of transmission. If it's under one that means less than one other person is getting infected if they're in contact with someone who has got the virus. The spot positivity rate, meaning what percentage of folks getting tested are actually positive for covid nineteen, and thirdly as new hospitalizations, those are the three here and now data points. We look at a lot of data, but those are the three that matter the most we have seen things. Get a little out of control in states like Texas. Florida Arizona, even California you're starting to see some real pickups in these things and we spoke with Dr Scott. GOTTLIEB I know you're familiar with Scott and I'm well. He said that contact tracing is not being done very effectively in a state like Texas. They don't know why young people are getting it. These states are really doing. Very good contact tracing where to isolate the source of the spread. They think it's congregate settings where young people gathering because young people are the ones who are getting infected at a higher percentage, and so they've. They've identified the bars. And most of the people, apparently most of the people who are presenting sick, the young people preserving sick have identified that they've been in barbies. Lay or a lot of them when I talked to the physicians, but they don't know for sure qepared. Are you in New Jersey in terms of contact tracing? Try and figure out if there's a spike in cases where it's coming from and what? I can't. I can't speak to the specifics of Texas Scott is a great guy and has been a great adviser Jersey Guy by the way. We have we have since day? One remember none of us at any of this at the beginning, so what if you're looking for a source of comfort, folks or silver lining its testing tracing plans? Ties isolate folks who have the virus. We had none of that as a country or state three or four months ago. We now test him the top couple per capita states in the nation. With the great help of Rutgers, our flagship State University. We're adding meaningfully till the already nine hundred contractors we have. We hope to get up over two thousand within the next couple of weeks. I hope and believe that our approach will be effective. Again our numbers have gotten notwithstanding the loss of over thirteen thousand people. It's hard to believe we've lost that many in New Jersey alone. Our numbers have gotten dramatically better, so we've been able to do the contact tracing up until now at least with local and county tracers. We have nine hundred of them on the field so far so good, but we WANNA. Make sure we've got a capacity that looks like our testing capacity. Just in case and I think we all have to be prepared for this. We hope for the best, but prepare for the worst that this is going to flare up. And we need that tracing infrastructure in place. anecdotally again, it's far more concerning inside than outside. At least a New Jersey I can't speak for Texas. That's where our biggest concerns are
City Of Miami Implementing Mask In Public Rule
"New York City is entering a new phase of its re opening with restaurants serving people outside an office workers back on the job but many states that have moved quickly to reopen are seeing big surges in corona virus cases CBS is Manuel Bojorquez says Florida and Texas are seeing a record number of infections this afternoon Miami became the latest city to weigh in on the issue we are going to be implementing a mask in public rule everyone will have to be wearing masks in public in Texas the number reached a record for an eleventh consecutive day but governor Greg Abbott does not anticipate a return to lockdown closing down Texas again will always be the last option former FDA commissioner Dr Scott Gottlieb and I think this week's going to really be a pivotal week for us to get a picture of where things are heading in states like Florida and Arizona and
Former FDA head says some parts of U.S. could see 'exponential' rise in COVID-19
"We begin with those new fears about the fall, and what the growing number of outbreaks could mean for the school year, Dr Scott Gottlieb the former head of the FDA now, a CNBC contributor raising those concerns tonight, and he is with us once again Dr. Gottlieb's good to be back with you tonight. These concerns come because of the rising number of cases. We're seeing in places like Florida and Texas. Right, I think we absolutely should make an attempt to open public schools in the fall, and we were headed in that direction I've been talking to a lot of school. District says starting to make plans for how to safely do that had a D. densify classrooms how to protect teachers had to keep students grouped into cohort CEO have large groups of students intermingling so that you can isolate students. In case, there is an introduction into the classroom of infection. Infection, but when you look at the southern states in the southeast right now you see these large outbreaks underway, and really some stay, sir, tipping into what we would fashion as epidemic. It's going to be very hard to open public schools against this backdrop so i. think a lot of the focus right now of our discussion is on maintaining the economy keeping businesses open, and we seem to have come to the resolution that we can maintain business and. And keep businesses open even against the backdrop of a lot of infection right now the infection that we have but the decision open schools is a much different decision, and the threshold is much lower and I fear that if we continue to have this persistent level infection that we're seeing in the south and the southeast right now it's going to be very hard for local school. Districts make decisions to open, and if we can't open schools in the. The fall that's going to encumber our ability to really get back to robust economic activity, because payers don't go back to work until their kids go back to school. This is coming as we're seeing infections in places like Florida effect, younger people, and the fact of the matter is Dr Gottlieb. We don't really know the effects of the corona virus on the youngest. Do we because they were pulled out of school and they were kept largely at home. That's right and hospitalization rates are going up across the board, but more twenty and thirty and forty year olds are now finding their way into the hospital. Because infection rates are rising in that community, and that suggest two things number one to suggest that there's probably a lot of twenty and thirty year olds who have grown ivars 'cause we know a much smaller percentage of them are likely to get sick enough to require hospitalization, but would also starts to tell us that they are getting sick enough to require hospitalization I think that there was previously a. A belief that you know if you were twenty or thirty somewhat impervious to this now we see rising hospitalization rates among that age quarter cohort, as far as younger kids are concerned with in every country. This became epidemic. The first thing that those nations did was close the schools and we don't have good data on this, but it's probably the case that parents with school age children here more strictly to the stay at home, mortars in the social distancing so young kids were largely kept in isolation away from situations where they would have contracted the virus. If only because schools were closed very early in the setting of these epidemic, so we really haven't seen the infection. Have the opportunity to infect that community to infect young children, because they were protected from the virus in same way that older people now are protecting some virus in a much lower rate of infection is occurring among older individuals in the country, and so we don't really know how this virus is going to behave. Once it gets into different cohorts that have been largely unaffected to date. If, you were advising the governors of Texas and Florida tonight. Dr Gottlieb what would your advice be about dealing with this epidemic right now? Well they're really at a critical point right now because you don't know where they are in the scope of their community spreading their epidemic baker very easily tip over into what we call exponential growth where the cases start going up very rapidly, and this becomes much more deep seated into community. There are signs that that may be happening already and so what they need to do right now. First of all universal masking is the simplest thing we can do. It's effective. Effective it's not wildly effective, but it's really the simplest thing we can do. That's not intrusive. Shorter closing businesses. The other thing you need to do is very good testing and tracing to find out what are the sources of spread. There seems to be some indictment right now of the bars in Texas and Florida, but we don't have really good evidence at the bars of the sources spread. We think they are because we know they're indoor. Congress settings are high risk. Risk Settings and they're not adhering to social distancing rules that are in place in those states right now, so there's a belief that those are the sources spread, but we don't know that there might be other things causing the spread at the community level that we need to identify, and that's what good tracing comes into play Texas and Florida, having invested in the tracking and tracing if you look at an early of the fifty states, and who's doing a really good. Good Job Texas and Florida aren't the worst, but they're certainly not the best, and there's certainly below fifty. The median level in terms of the number of tracers number public health workers. They have doing this tracking and
"dr scott gottlieb" Discussed on Squawk Pod
"Latest OP, ed former FDA Commissioner, Dr Scott Gottlieb discusses the British strategy of fighting this pandemic, and why the United States should follow its example. Joining us right now is Dr Scott Gottlieb. CNBC contributor and he serves on the boards of both alumina and Pfizer Dr Gottlieb. Thanks for being here. It's good to see you. Thanks. Let's talk about drop ed I up. What are the British doing differently than we are well the recovery trial, which was a trial that unearth the finding with decks and Beth zone star that was demonstrated to cut the risk of death by third in patients who were in debated with Kovin Bhai twenty percent and patients who were requiring oxygen. That was what we called practical clinical trials, so it's very large. It was still randomized trial where patients randomized to. To different treatments or just routine care, but it was a practical trial in so far as it wasn't collecting a lot of different variables about the patients, and so made it easy for doctors to run this kind of a trial in a crisis situation, doctors who are busy working at critical care units in the US, we've reached for more elaborate clinical trials, and that's made it harder to run and enroll these clinical trials, and it's made it harder for us to get results. We actually affirmatively decided not to participate in recovery trial and I think regulators. Public health authorities need to rethink. Trials and reach for these kinds of practical trials that are going to be easier to run these settings that we start getting answers about what works and what doesn't. We're going to be more dependent upon therapeutic innovation here in this country given the fact that we're going to continue to have a lot of infection, and so we're going to need things that try to reduce the death rate as a way to try to quell the impact of this this disease. Let's talk about a few of those things that we've been watching. Today is a reopening of face to New York. City meaning that people can get their haircut salons. Outdoor dining and drink service a lot of other things that are out there and I've been watching over the last several weeks. Where sometimes people in the northeast? Seem like they've. been thumping their chests a bit about how much better we're doing here than in some other places where we've been taking strict measures, we have seen a decline in the number of cases, other places have opened up and have seen. More cases coming on. Are we just waiting for this to happen to us? Because as we reopen up, it's inevitable that you are going to see an increase in cases, and maybe it puts us right back where we were, we'll see an increase in cases, but we're reopening much in backdrop. First of all cases are way down in the northeast New York new. New Jersey Connecticut cases are way down. I think the population here more aware of the risks that you more likely see compliance with masking people being mindful of their social interactions, and so we also have a lot of infection here New York probably thirty percent of the population has been infected New Jersey and Connecticut probably around ten percent of did seroprevalence studies. Maybe higher than that, and so there's been more infection here, so the transmission rates going to be a little bit less because of that, because now you have more people who have some level of immunity, so I wouldn't expect to see the big increases that they're seeing in the southeast and the South In here when we open remember Florida Tech Says Georgia. Alabama South Carolina. Arkansas Arizona all open against the backdrop of a Lotta spread their cases never really went down, and then they opened up, and so they were destined to have more infection as they open. Do you think that's why when you look at what we're hearing from?.
Gottlieb warns of "exponential growth" in COVID cases in some states
"New concerns tonight as more states brake coronavirus daily case records as the country reopens former FDA commissioner Dr Scott Gottlieb is sounding the alarm the worry is that they're going to tip over into exponential growth coming this week and the challenge with exponential growth is everything looks okay until suddenly it doesn't infections in twenty one states are trending up with at least ten states this past week breaking seven day averages of new
"dr scott gottlieb" Discussed on Squawk Pod
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"dr scott gottlieb" Discussed on Squawk Pod
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"dr scott gottlieb" Discussed on Squawk Pod
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"dr scott gottlieb" Discussed on Squawk Pod
"Say I can partner with this firm to navigate tough times visit capital group, dot. com slash market volatility American funds. Distributors Inc... The squawk pot. Here's Becky quick. yelps data.
"dr scott gottlieb" Discussed on Squawk Pod
"Anything else loyalty programs, because they're the most valuable asset in many ways that the airlines have and what united is doing here and we'll see this likely with other airlines as well is to say okay. You know what we will collateralized this. This'll be the mortgage behind this five billion dollar loan. He's got one hundred million subscribers, and you're bringing in more than five billion dollars a year in sales. I think that they believe that this is a smart move and I think most people will look at it that way, and you'll see other airlines doing something similar in the future. I look I think it's a smart move for the airlines my question is. It was worth five billion dollars last year. What's IT worth this year? Show me the numbers this year. Back to those numbers, you think it's GonNa. Be Back like that next year. Maybe but let me ask you this, Becky, if you you're a mileage plus member, are you canceling credit card or their program? Are you still spending through that credit card or you're still spending through that program, but in terms of the question comes in. That's where the question comes in is. How much is it down this year? And how quickly will that return and I I mean? That's the big question on everything happening with the airlines. How quickly we're going to be flying again. That's no that's. Nobody's expecting profitability by the end of the year. But what they are doing here by lining up seventeen, billion in liquidity is making sure that. Position! I think it's smart on their part I. Just I would question whether the underlying value of the program is still that. I drove by Newark Airport for the first time on Friday Phil and I was shocked because even though I. Don't really see planes in the air all that much every time I do, it's enough for me to stop and take a look at them. I had not driven by any of the airports yet. That was the first one I drove by. There wasn't a plane that was landing. There wasn't a plane that was taking off I didn't see too many planes at any of the of the gates, and it was just kind of this awesome reminder of this airport when when I used to drive by it, all the time would be completely jammed with the planes lining up to come in. Even as you see, people start to come back and five hundred thousand people traveling again. That's still is such a small. Saying before Becky. From where they were. Pre, covid nineteen. There's no doubt about that, and let's be clear here. The big problem it's the corporate traveler. The corporate traveler is just not coming back anytime soon so as encouraging. People want to go, and that's the most profitable more people may want to go to Florida. It doesn't really matter until you and I are on a trip. Let's say to Dallas or somewhere else. Thank you. It's great to see you, you bet. That squad pod for today. Thank you for listening Suave. Fox is hosted by Joe. Kernan becky quick Andrew Ross Sorkin tune in weekday mornings on. CNBC am eastern and to get the smartest takes and analysis from our TV show right into your ears subscribed to spot on apple podcasts, spotify stitcher or wherever you listen will be back here tomorrow. This CNBC podcast is sponsored by capital group home of American funds. Nearly Ninety years of experience helps. You.
"dr scott gottlieb" Discussed on Squawk Pod
"We follow on a weekly or monthly basis to try and figure out what's happening in these very unusual times. So what you're doing really offers some real time insight into what's on the ground. First of all. Tell us about how many businesses have actually closed during this absolutely, thank you for having me so as of June ten as you mentioned, we've been capturing this since the beginning of March when shelter in place is really cannon drug sacks. We've seen more than one hundred forty three thousand total business closures on and what we're seeing with that data is that over thirty five percent of these are marcus permanent closures by businesses, which means that they are not expecting to real. According to what reflecting on Y'all and important to to note that this is just a reflection of what yelled is able to see As this is mark that on our platform obser- actually could be more or. Less is reflection of what we're seeing in terms of the breakdown. Retail and restaurant. We know our big part of them. What percentage to the makeup? Sure absolutely so as you said before retail thinks about twenty three percent of total businesses closed since much I out in restaurants coming in about seventeen percents It is really a telling that restaurants in particular are forty eight percent of Oh. Closures are Marcus permanent, so even the Russians have a higher degree of closures overall. We're seeing that some restaurants might have had very little. Resort cash as went into condemn, it had to close immediately, and later in May, or most recently were seen as second wave, a closures really come in for restaurants, and that's when some restaurants would be able to find a way to survive for period of time ran out of that cash reserve for realize the secondary mechanisms of making money just want enough in our transitioning now into a police state. We also saw on the screen, the idea that beauty a beauty salons and others had been closed for a long time to what other businesses have been affected. Absolutely so beauty actually makes up about thirteen percent of the whole businesses close in is a smaller overall percentage of businesses that are fact on yell. But. We are seeing something interesting in beauty and that. There aren't as many from closures and many a total closure, so eighteen percent of the or two percent or marcus permit, and what that indicates that are likely other mechanisms of of business univision. To deliver their services to their consumers, so we saw that youtube is being elected to get care to orioles, a lot of makeup providers or being able to actually send out packages of the delivery to their consumers. So there's they're making a good run to is still deliver their services and keep them revenue. Another areas fitness, so online fitness has become all the rage during the Ms. Many people are taking arts in Obvio- on the end lessons. I know mice Obama community. And as a result, these gyms. Students are able to continue to. Incurring a real time on, and you're seeing a really only five percent of businesses that are closed since much. I are in the industry, although there are a a no a lower number of of fitness. Businesses will role on your? Justin deep break this down geographically places that are are maybe opening up and starting to see a little success. Sure so we do have that information, although we did not see any strong trends geographically and remember, the data is actually uncalculated until the tenth of June so be shelter in place, or is just now started to release especially for businesses that require people to spend tyneside like done seat in restaurants or or So. We haven't seen a lot of changes in that. Geographically, but we'll definitely keep an eye on it. We'd love to have you back and. Share that information with us. We really appreciate your time today Justin. Squawk, pod, we'll be right back with airlines flying the non-profitable skies. You're listening to Squawk pod from CNBC yours Andrew Ross Sorkin. With demand for air travel, slowly starting to pick up some of the planes that admitting parked for months or getting back in the air, but like the take a while for those flights to become profitable again, Philibeaux who joins us now with more on that film. Andrew profitability is a long ways off. These guys are still burning through tens of millions of dollars every day. You need these plans to be at least seventy five percent full before you can say okay. We're break even on a particular flight, and they're not at that level yet, so but when you look at the airlines, you need to keep in mind that they are bringing back these planes now a couple of factors. Factors here, some of the airlines have said we're going to block that middle seat. And as a result, we're capping passenger levels at sixty five or sixty six percent for a particular flight, so as a result when you look at the airlines that have brought back flights or brokeback planes in the month of June, only got American and Sixty Four Delta at Sixteen frontier, bringing back twenty and a lot more on the way. Way in the month of July. All of this is because you've got more airplane seats that are are are out there. People as they are starting to fly. The airlines are making more available now it's up thirty nine percent according to ag since mid May, but when you look at that level since January, still down sixty six percent, so the airlines are nowhere close to getting back to actually making money off of all. All the seats possible. That's where they would like to be the January levels speaking passenger levels the TSA out with the data from over the weekend or these passenger levels. They're still down eighty-one percent, but three of the past four days we top five hundred thousand passengers in the US with yesterday, being the best at five hundred and forty four thousand southwest, as it has added back flights pretty judiciously, we should point out. is now because of all the fall off in China. It now has more seats available than any other airline in the world, and that's not a surprise given what we've seen over in China in southeast. Asia. Guys back to you have fell. There's just a news crossing on united. I don't know if you had time to look at this. Yeah, to see what's going on. What's happening? Well, you've got. Got A couple of eight. KS that. United is dropping, and this is big news in terms of what the airline is going to be doing. The airline has essentially lined up a loan for five billion dollars the collateral for that loan. It's going to be backed by the mileage plus program. That's the frequent flyer the loyalty program. This will help them along with a treasury loan that they're going. Going to be applying for have about seventeen billion dollars in liquidity by the end of the third quarter that four point, five five billion dollars, and then another four point five billion. They expect to get through Treasury that will be backed by slots gates routes, not by aircraft, so between those two united expects to have about seventeen billion dollars in liquidity by the end of the third quarter with A. A cash burn rate coming from forty million dollars a day in the second quarter to thirty million dollars a day in the third quarter, but they are doing. This guy's basically lining up the possibility that they're going to need even more liquidity especially if there's a second wave of covid nineteen and we see a further contraction in terms of flying both here in the US and around the.
"dr scott gottlieb" Discussed on Squawk Pod
"Is exciting. And I think you'll see that over the next days. Money getting into the hands of the small businesses Robert. We're out of time so I need a quick answer. But what is the biggest concern from the banks? They are the ones fronting the money. They just want to make sure that they're going to get paid back and not get blamed for. Thanks God no well certainly. There is a liability provisions. We WanNa make sure they are not blame for doing exactly. What the government's doing we're also around there. Kyc issues were working on that as well. But I will say the. Sba Treasury throughout the entire weekend did a very good job answering all of these questions many of these questions so we can get this money quickly into the marketplace. That is the goal of the banks. They're doing everything they can to help their customers and clients right now and so again. Lots of progress is being made. We have more to do. But this program is ramping up considerably Becky Literally as we speak. Hi Right Rob. Thank you for your time. Rob Nichols next. Scott Grub hubs CEO Matt Maloney on supporting businesses through this crisis. If we can help restaurants get through the next few weeks or months depending on how bad this is they will come back. We'll be right back. This is quite apart. Here's Andrew Ross. Sorkin with news about takeout during the corona virus shutdown talk about squawk box grub her but announcing it will donate thirty million dollars of its own capital two hundred thousand restaurants to help them during this time of crisis. That's about two hundred fifty dollars to each restaurant joining us right now. Talk about his Matt Maloney. Ceo of GRUB. Good morning to you matt. How much of a difference is this very moment? Two hundred fifty dollars to restaurant. GonNa make doesn't sound like a lot but it's GonNa be it's GonNa be a huge different. We're looking at different sort of looking at it. Like a a stimulus. Almost because the way we're rolling it out is a consumer gets ten dollars that they spend thirty dollars so are thirty. Million dollars is going to transform into over one hundred million dollars of food sales to restaurants across the country so that that's a big slug when everyone's working really hard to try to put money in the hands of small businesses. What what percentage of restaurants are still online and on board right now and what percent are often even shift that or change that or do you think once you're off your off We're trying really hard so it depends on the market what we saw as an early. Kovic West Coast markets you. You'd see a dramatic dip in restaurants. Went off the platform and they're now starting to come back on. You have New York a Detroit that are in the throes of the crisis right now inside your there there. Peaking at about thirty percent of the restaurants are off but remember you're having thousands and thousands of restaurants coming on the platform for the first time. So we're we're seen about the same number in terms net but it's just a transition and what's the experience trying to on board or even keep a keep your delivery people working right now it's incredible You hear everyone. Has these crisis stories. Our teams are working around the clock. we tripled our most on boarding a month. Ever of restaurants had fifteen thousand restaurants. Go live in March. We're probably going to do more in April. It's just an incredible intensity of need right now for restaurants and so we're we're doing everything we can to help them and with drivers we lost contact a contact free pickup up or drop off and we just launched last week con curbside pickup for the drivers to make sure those two layers of protection and no contact to make sure we help a mad. I gotTa tell a bit of a tough question because I was looking online and people talk to you about it. There were some some drivers and is not just true of Grub but across the board who were saying. You know what? I actually don't make enough money doing this full time. I'm actually better on unemployment insurance right now. Given what's taking place you know. There's plenty of work on GRUB. I know there's lots of work on other delivery platforms as well. We have our own our own stimulus for drivers if they get impacted directly by Kobe were were paying them. I know other platforms are and of course the cares. Actress came through with a lot of relief of forgive workers also so I think that everyone right now is all hands on deck trying to help the restaurants that drivers everyone impacted do this Economic and health care crisis and I just think a little longer term out for for all of us. Because I think we're all trying to understand what the expectations are. I'm curious inside the meetings that you're having when you look at the other side of this and the other side may be a month or two if depending on where you think about how you think about this. There's other people who think that this is going to be a terrible restructuring bankruptcy situation that goes on for months and months if not a year where are you on that in terms of what happens to the restaurant industry. While that's been I am hoping for the best I think at the fundamental economics of our of our society are still intact at the. There is a lot of demand right now to restaurants if we can help restaurants get through the next few weeks or months depending on how bad as they will come back. They will be there for our communities if they can't Than than that. It's going to be a real problem But as what? We're seeing right now. It wants the crisis bottoms out in the market. It does Growth does start to come back in that local area but we're seeing is is crises around the country in different markets at different times. And so we're trying to dynamically manage that situation on the ground. Okay Matt. We wish you lots of luck Stay healthy and safe out. There appreciate you joining us as always talk against him. More squad pod after this faith during a pandemic you're listening to squawk hot from CNBC. Here's Becky quick. Credit virus pandemic obviously causing economic and humanitarian crisis. That's being felt on an emotional level across our families and workplaces. So we're going to do something a little bit different right now and talk about the mental and spiritual impact of what? We're all going through right now. Joining us right that right now for that is Father Jim. Martin he's Jesuit priests the author and editor at large of America magazine and Father Jim thanks for being with us. Today it's good talking. You're my pleasure. We talk all the time about. How THE CORONA VIRUS? How this is a war against the krona virus in you also hear that. There are no atheists in foxholes. Do you think that people are seeing? A real resurgence in spirituality as a result while I think people are looking to spirituality for answers But by the same token I think it's really challenging a lot of people's religious beliefs. You know people are asking. How can God let this happen? So I think it's it's kind of both ends situation. Spiritually what do you hear from people? Are there more and more people who are seeking counsel from you There are. It's it's mainly a sadness at this point in the in the disease. There's also a lot of panic too and so what I try to remind people as that panic is not coming from God. You know feelings of hope and calm and peace are. It's okay to be concerned of course but I think panic and terror are counterproductive in holy week right now for for Catholics and Christians and Passover for for Jews is coming up and in this time when people probably need it most she find that places of worship are closed. Because of all of the social distancing rules that we've gone through you've got some pretty interesting ideas and advice that you're giving people for lent you say instead of giving up something this year that there's something else they can do. What is that? Well I think right. Now it's being kind and Frankly one of the ways being kind addition to doing a good things for your neighbors as to you know practice social distancing and and stay home and and not give other people the disease I mean. I think that's one of the most generous things you can do. Which is to take those precautions to prevent infecting other people? What's What other advice would you give people right now? Who are struggling whether that just be with the fear of what's going on out there if they've lost their job if they have a loved one who's sick or a loved one that they've lost because of this. What are you telling people? Well it depends if they're religious or not religious. It's looking for deeper meaning and remembering that God is with you You know through small. Love that people Show you I think that you know one of the things I'm telling people holy week is that you know. We can see God's love and the way that Jesus offered himself for people on Good Friday in the way that doctors and nurses and healthcare workers are kinda putting their bodies on the line for people. It's very defeat that generosity is one way of God loving us. Jim Want to thank you for your time today. We realize this is a little bit different but we also realize people have all sorts of different questions because of what's been happening with all of this again our time today. Thank you thank you. It's good talking to you and that Squawk pod for today. Thank you for listening. Squawk boxes hosted by Joe Kernan Becky. Quick and Andrew Ross Sorkin tune in weekday mornings on CNBC at six am eastern to get the smartest takes and analysis from our TV. Show right into your ears. Subscribe to squad. Wherever you get your podcasts. We'll meet back here tomorrow..
"dr scott gottlieb" Discussed on Squawk Pod
"Father Jim Martin join us. We can feed God's love and the way that doctors and nurses and healthcare workers. They're kind of putting their body on the line for People's very pathy that generosity is one way of God loving. It's Monday April. Sixth Twenty twenty squad begins right now. Good Morning I'm becky quick. Along with Andrew. Ross Sorkin and Joe Kernan. I on on today's podcast. The Corona virus pandemic. We might be seeing some light at the end of the tunnel. Spain's Daily death. Toll has declined for the third day in a row and Germany is drawing up plans to end. Its lock down here in the United States. The trump administration voice to note of cautious optimism over the weekend. This vice president Mike Pence the head of the White House Corona Virus Taskforce. We are beginning to see glimmers of progress. The experts will tell me not not to jump to any conclusions. I'm not like your president. I'm an optimistic person. I'm hopeful truth is we're starting to see cases and most importantly losses and hospitalizations. Begin to stabilize. Here's Andrew kicking off with Dr Scott Gottlieb former head of the FDA on a headline that really struck a chord Sunday. A tiger at the Bronx Zoo has tested positive for covert nineteen. I don't know if you have pets. Or you've been watching tiger king on net flicks these days doctor but should we be concerned about pets before we get into the rest of it. Look there's really little evidence that this virus infects animals. There's some anecdotal reports here and there have animals getting infected. It's possible that if an animal is in very close contact to a human ultimately the virus can get transferred and those kinds of settings but the sort of one off anecdotal types of episodes probably isn't an indication at this widespread transfer for example. We know there are diseases. Where if humor in very close contact animals. They can get the animal infections but it takes a very big inoculate. You have to get a big dose of the virus from the animal in order to get it because typically the virus itself would be contagious to a human so could probably work both ways. I'll tell you I'll tell you watching. Joe Exotic on Tiger King with those those tigers playing with the Tigers. They're very close but I two hundred two about the more serious issues of the numbers and just how terrible a week we are expecting but also what seems like at least from the administration. Maybe you can. You can weigh in on this. A glimmer of hope about where we may be going with this curve here. And and the length in duration of all this. Yeah we've been talking about this for a couple of weeks. Now since the curves are improving the model that the administration looks at that. I mean model. If you've tracked it over time you've seen that the model itself has improved so the number of deaths They were modeling on that model about a week ago. The upper boundary is about two hundred forty thousand deaths now the upper bounds. One hundred seventy thousand deaths the base cases about ninety thousand deaths. That's down from where it was over. One hundred a week ago so as data crews that model starts to improve remember this isn't like forecasting the weather when you when you make a model and you make a forecast you then do things to affect the outcome. So the models constantly evolving base in the behavior that you're engaging in to try to improve the model so. I suspect when they update that model again probably. Today you're going to show some contained improvement. What's happening is that the northern states the Pacific northwest and New York are improving their showing signs of hitting. They're probably this week. This south in the southeast Walkerton Abi Heating Up. This is going to be difficult week. So let's let's go to the big question that I think that Coz are trying to figure out executives. Everybody we're all trying to figure out is when we're going back to work and what it means to even go back to work what that even looks like to the extent that we're going back to work and it's it's like a time machine. It's like what life was like in February or we're going back to work and we go back with gloves and masks on on our way in and out we go home. We don't go to a restaurant. I just tell. Tell US SORT OF A. What is your timeline for quote going back to work? Look like in what does going back to work. Look like well. I think we should ask our parents what it was like in the summertime when polio is circulating or we have great grandparents. Were alive what. It was like smallpox outbreaks in cities or even measles It was a drag on society. There were certain things that didn't happen. There were things that were closed. I think we're likely to see changes in society where certain things certain activity is surpressed. As long as there's viruses circulating this virus isn't going away. I think in July and August it's GonNa collapse but by collapse. I mean maybe we'll down to thousands of cases a day. Perhaps hundreds probably more than that sporadic outbreaks here and there and then come back in the fall. This is going to become as we've said epidemic in the southern hemisphere and wanted to come back in the fall and so the question is how does life change what activities. Don't come back or change. How do we change the nature of the way? We do certain things until we can get to a therapeutic or a vaccine. A vaccine is two years away rug. We can have by this summer of the fall but we need to make a concerted effort to get it but just put that in practical terms for people parents out there who have kids WanNa know. Well someone their kids are going back to school. I think you've answered that before. You think not. Are they go to camp this summer? For example well school's out this year then camps are probably going to be closed. Maybe the capsule try to get a month in. I think that there's an attempt to restart school in the fall and have residential college. We're going to have to see if we can contain these outbreaks in the fall. Because there's GonNa be outbreaks but as soon as you have a large outbreak on campus or in a school there in the local district. There's GonNa be inclination to close the school within the district. This is unlikely to become epidemic nationally. In a way it has now. But you're likely see epicenters of spread and when when that happens you're GONNA SEE. Cities get shunned conferences and other activities curtailed in those environments where is spread? This is going to be with us for a while. And we'RE GONNA have to learn to live with it until we can get again do you. Do you think there will be conferences? There will be events. People travel come this fall. They'll be getting on airplanes or is that something you think is not going to be a place. I don't think anyone crowds five thousand people into a conference from again for a long time. I think the marginal customer doesn't return to restaurants theaters cruise the cruise industry Disneyland. You know you you decide what you think. The marginal customer is but that's typically the marginal customer that gives those those entities their profit margins. I think they're going to need to reassess that I don't think people are gonNA be crowding onto Boko out eighty percent filled. I'll make it more complicated for you. Do you think that people will travel for Thanksgiving? They'll travel to people's homes around the country as as do go on vacation at Christmas time given the time. Line that you're talking about because I'll tell you the Tomlin you're talking about. I think there's a lot longer than the time line that most Americans are thinking about in large part based on the administration talking about this this ending at the end of this month think a certain percentage of the population is going to be more circumspect about crowding into tight spaces indoors so you pick your activity. Going go into a family's home with Thanksgiving isn't one of those activities. I think that's going to be curtailed crowding into a restaurant for an adult population is so there's certain things I think people would you back about doing? Look I think he's GonNa be more circumspect about why they get on I will fly. I'm sure people will fly. But will you take that extra flight? Will you go on the trip that you really didn't need to take That's what's going to change. You know people are going to. I think the marginal activity that involves crowding into theaters. Airports small venues inside where there is spread is going to change. Especially as these reports of outbreaks happened around the city around the country. The idea that things just going to snap back going to forget about this. This is gone. That's not the case. This is going to be with US remember. Smallpox circulated for years measles circulated for years polio circulated for years before there was a vaccine before it was vanquished and it changed American Life. Things changed we did things differently. We're going to have to do things differently with the corona virus circling tobacco. And this is a fearsome pathogen. This is right up there with some of the most fearsome contagious diseases. That we've dealt with things will change until until we can get a vaccine to this but effective drug can deliver the same kind of opportunity. Which is why. I'm so perplexed why there's not more deliberate effort to get it because that we can have in the near term Kinda ducked. Scott. Gottlieb always enjoyed talking. You hope to have this opportunity to get the three hundred and fifty billion dollar payroll protection program that was launched Friday It was in for a little bit of a bumpy ride for banks and the borrowers looking for relief and Kate. Rogers joins US right now. She's got more on how the process is kind of playing out as we get a little deeper into this cake. Good Morning Hi Becky. Good morning from the information that's been made available to CNBC. We understand the process would work like this. Small Business Owners contacted the bank that they currently have a relationship with and submit their application from. Sba DONKA now. New Applications were released late last week. Which meant that? Some small businesses had to re submit to their bank. The bank then verifies the information on the application and submit that form to the SBA the SBA then gives each application in spa loan number from the Trans System with that low number which is sent back to the bank. The SBA says the banks have delegated authority to make these loans but according to industry sources more information is needed many small businesses that we've heard from say that they have not received their funds as they say their banks are awaiting guidance from the SBA now as of Sunday evening a senior administration official said that the SBA had given out one hundred thousand. Each tram loan numbers for value of more than thirty billion dollars. But right now it's unclear. How much of that thirty billion dollars actually made? Its way to main street lenders. There's supposed to take the next steps with depositing loans into small business owners account. We did ask for a lump sum. Some number of actual loans that have made their way into the hands of small business owners. And that's information that we have not been able to get. We'll certainly keep you posted but I can tell you a lot of small businesses that we're hearing from our very concerned about that three hundred and fifty billion dollars running out because remember this program is first come first served back over to you. Hey Real quick just one question because we keep hearing about it all weekend and it looks like Bank of America's changed its policy curious. What other banks you think have done the same. When the when the loan program I started on Friday there were number banks including Bank of America. Who were not providing those loans to people who did not already have a loan with the bank. You could have had a checking account or some other kind of relationship with the bank. But they wouldn't necessarily give you the loan bank. America has switched have others as well Andrew. I think that's going to continue to be a case by case basis. We're hearing from a lot of small businesses that are working with community banks and haven't been running in to those same issues but again a lot of the banks are saying that they're still awaiting guidance from the SBA. We ask the administration about that last night. We were told. We can't comment on what the banks are looking for from the SBA here so we don't quite have an answer here on on guidance that they may be waiting for. But I do think you're going to continue to see push back like that. And the lenders may wind up changing their tune. Remember there are twenty two hundred of them that are currently participating in the program per this senior administration official all right kate. Thank you very much kate. Rogers for more on the small business loans. Let's bring in. Our guest. Rob Nichols is the president and CEO of the American Bankers Association which is comprised composed of.