1 Episode results for "Dr Lee Savio Beers"
Kids, Covid, & Classrooms; KPMGs C-Suite Survey
"Out steer means pige navigates market volatility with an active investment approach designed to capture opportunities globally. Join the pursuit of outperformance at p. Jim dot com. That's pg im dot com bringing show musically this is squawk pod. I'm cnbc producer. Cameron kosta today on our podcast. Twenty years finally at an end it was time to end this war that might be over but the pandemic is not kids are heading back to school. Covert cases among them are taking up and vaccines are still not quite ready for them. President of the american academy of pediatrics. Dr lee savio beers number was just a disease for dos. But now we're seeing so many cases that that we really are seeing the impact on children. And i don't know about you but we're still working from home. Ceo's are pushing back the return to office but overall it's not all bad news in the c. suite share and ceo of kpmg. paul canal. There is a great degree of resilience. And i think we're feeling really good about how the vaccines are responding to the virus. Very optimistic about the future. It's wednesday september. First twenty twenty. One squawk thought begins right now. Becky by in three to one place. Good morning. welcome to squawk box here on cnbc. I'm becky quick. Along with joe kernan. Andrew is on vacation today. Let's september i. You know that what that means that we've just finished this month so we should take a look at how the markets actually performed for the month of august. If you were watching you saw that the dow gained one point two percent that would be at six positive month in the last seven. The snp was up by two point. Nine percent logging seven straight months of gains and then the nasdaq was up. Four percent for the month russell two thousand small cap index. It outperformed yesterday but for the month that was up by two point. One percent and despite a decline of one point one percent in yesterday session. The dow transports finished the month higher by one point. Four percent now. The transports are still more than nine percent from their all time high. But if you look at the financials they were the best performers. In august up by five percent energy stocks were the worst performers and the only sector declined for the month as well. I don't know if you were watching yesterday. Joe we we didn't see new records for the snp and the nasdaq it would have been the thirteenth record for the month For the snp fell just short of that but stockton fall by too much. Had the snp down by about six points and were you watching the nasdaq because it was down by six point six six. I didn't see that that final close. There were some other things that i was watching yesterday. As a matter of fact which will will talk about in a second and how it impact. The business world finance got well. We couldn't pa. No i mean we couldn't possibly we don't need to enter the fray of we characterize what we've seen over the past couple of weeks that's not. That's not what we do but there is quite a bit of commentary on what we've seen and these are these are big things. The the black and white shot of the or the greenish sort of shot of infrared of the final defined soldier. That that's gonna be like what we've seen. That's going to be one of the most iconic shots i think of a twenty year saga ending. So this is going to be one of those things that maybe our kids kids read about sunday right. I don't know how maybe it'll be implanted into their brains by then or something maybe reading we'll be out but hopefully not hopefully not. Yeah this is what. I was watching yesterday. President biden addressing the nation. He defended his decision to end the. Us war in afghanistan after nearly twenty years of conflict saying the era of us nation building is over. We succeeded in what we set out to do afghanistan over a decade ago and we stayed for another decade. It was time to end this war. Let me be clear leaving august. The thirty first is not due to an arbitrary deadline. It was designed to save american lives. I was not going to extend this forever. War and i was not extending a forever. Exit president biden vowed to defend the us against evolving threats from terrorist groups such as isis without getting involved in another ground war. Let's see the next story you were going to talk about. We were just going to go. Just leave it at that and move on. I just figure i did. I was watching it. I don't know what were you watching when this happened. Did you see the end. I thought it in kind of a you know nothing about that. Speech was funny and nothing about the whole situation. It's funny but he turned around the president and was leaving and there were dozens of questions being shouted at him and at one point he turned around and he turned around and he walked back to the podium and everyone thought the same thing. He's going to answer. Questions is going to take a few questions. And he picked up his mask and turned around and left. Were you watching it at the end to see but you think he was coming back to feel a few questions but it but anyway we we have a fair free and fair press in this country and sometimes maybe i don't like it but other times i do like it and the journal hesitated. They maybe should i. If i tweeted out and re tweets are not endorsements. Is that possible to just tweet out. The maybe the some of the commentary on on what we saw yesterday or or just because it does affect the next three and a half years. That's the last point. The journal makes the next years are going to be something to behold. But i think he'd be questions that i think people have been thinking that for the last couple of weeks tweeted out for people that don't have a subscription to the journal order dry just not tweeted out. I'm not going to tweet out the new york times. So maybe that's unfair for me to just tweet out one side. What do you think I think you are allowed to express your personal expressions on on twitter. So yeah you go. Then i'm going to get busy with that and we'll get back to this. I'm going to think about it. I'm gonna know sometimes. I feel like having a relaxing day. And i don't feel like yesterday. I one of the reasons. I said i was what there was supposed to be a baseball game on did you. That's what you were going to be talking about. But it got cancelled unceremoniously. Because of i think we're going to see the effects of ada later today here. Yeah and i think it was in cincinnati yesterday. The reds are supposed to supposed to play but the mets were supposed somewhere. I had a game that i was planning to watch. And i i was unable to it. It was not on today. There's a bunch of money just in case you're one and it's supposed to rain today too. Though so we'll see later. It's supposed to be flood warning all kinds of stuff happening in pennsylvania re jersey. Bjork all around. That's right you can check for yourself. If joe re tweeted his morning reads catch him on twitter at joe squawk and you know what go ahead and send him the tweet. Were you going to watch baseball game. Two or maybe that on it. Let them know well you do that. Here's what's coming up on this podcast. There needs to be an urgency in the way that we approach the authorization of vaccines for the younger kids. Of course obsolete need to also follow very clear and thoughtful safety procedures but but we think that both of those things can be done. President of the american academy of pediatrics. Dr lisa savio beers when squawk todd returns each. You remember kevin o'leary here. Money court is all about dispute resolution. Businesses have problems. And i'm here to resolve money with kevin o'leary new series wednesdays ten eastern on cnbc tv. This is squawk pod. good morning. Welcome the squawk fox here and cnbc live from the nasdaq market site in times square. I'm joe kernan along with becky. Quick pediatric kovin cases are currently on the rise as the delta variant continues to spread across the country affecting many children who are unvaccinated as they return back to school cases and children are up over five times what they were earlier in july and child hops civilizations because of covert are at an all time high joining us right now to talk more about. This is dr lee savvy. Beers the president of the american academy of pediatrics. And dr beers. Thank you for being here this morning. Thank you so much for having me to talk about this really worm issue. This isn't just a disease for adults anymore is it. That's absolutely right. I really never was just a disease for adults. But now we're seeing so many cases that that we really are seeing the impact on children with that backdrop. Are you surprised that the fda is asking for more information about the clinical trials and expanding those trials for kids who are ages five to twelve before. They'll approve the vaccine for them. Now this is. This is something that we think really needs to be approached with a lot of urgency given given the number of children affected by kobe particularly with the spread of the delta delta variation. There there needs to be an urgency in the way that we approach the authorization of vaccines for the younger kids. Of course obsolete need to also follow very clear and thoughtful safety procedures but but we think that both of those things. Yeah the data. I think for pfizer and this has been a moving timeline as the mother of two young kids. I was a little concerned. I thought maybe we'd be getting these vaccines by late. September early october. Then the timelines sort of change too late winter or early to late winter potentially depending on where we'd see where where do you think things stand right now. What are you hearing now. It's you know we're hearing on of the things you are a. We've heard estimates from his earliest halloween to as late as early winter. We of course really hope for the earlier time line and we've also heard that least one of the manufacturers will be ready to submit their data by the end of the month so that's that's really encouraging to us so were were hopeful it will be on the earlier end of that time line but of course we'll we'll have to wait and see what that data works like right the. Cdc is taking a kind of unusual step and is basically threatening doctors saying that they cannot prescribe these vaccines off label for kids ages under twelve And i understand that. You want to see the data. I if you were able to see that data next month would that maybe make you feel better about off. Label prescriptions at that point. Yeah you know we also do not recommend off. Label prescriptions for off label. Use of the vaccine for children listened to them and and the reason really is safety. Just we know that during the trials. we are using should smaller doses of the vaccine for chairman. And until until we see no that you know we we really have to make sure you know we we are. We feel urgency about it but we also need to make sure it's done safely. What are you seeing right now. Just in terms of hospitalizations. I think this is the delta. Variant is more violent. Is this a situation. Where i. It's going to spread more quickly among unvaccinated. But we're also seeing breakthrough cases too. And i think that's a game changer. Yeah it is and it's a good question you know. I think of course as you probably have seen through at this. The data around hospitalizations sometimes lags at tiny little bit behind data cases. It's a little bit hard to know. If delta is a truly more severe disease in kids or it's just that you know just like an adult the more people who are the more kids who are affected the more who are going to get severe disease but what we are seeing is is really dramatic increases in cases and really dramatic increases in hospitalizations. I think this is particularly true in some of the states Largely in the south and midwest. Where where we're seeing surges and in those places you were seeing new. Pediatric hospitals are running out of beds. Kids are having to wait long times to be seen. It's it's really putting tremendous stress on that healthcare system as well as we're also seeing just a whole lot of sick kids there. I know the american academy of pediatrics is recommending. That kids do go back to school in person Obviously there was a lot of Mental grief that was caused by not being in schools. Last year What do you say about doing that. In areas where There's not a very that. High vaccination pickup and masks are not mandatory. Or maybe not even allowed now. We have guidance on this that that actually we'd had all throughout the pandemic which really focuses in on the point that you just made which is is really essential for our weekend to get kids into inverse in school. I think one of the things we've also learned over the past year is that we can do that safely even in areas of high spread. But it does. It does require mitigation measures in the school. And so you know. Our strong recommendation is that that we need to do everything we can to get kids back into school safely. And what that involves is universal masking for children and adults over the age of two good ventilation. I'm some sort of regular testing. Protocol that can vary depending on the on the school district Physical distancing keeping kids a little bit distanced where you can Where this space allows and so put an all those things together and layering those things together. We can get kids to school safely but as adults we need to. We need to do our part to make sure we're creating a safe environment for our kids. What's your biggest concern right now with the delta variant with the issues in the the higher pediatric hospitalizations. That we've seen well you know many concerns concerned about about our kids who are getting sick and also knowing that that many those kids actually are over the age of twelve desert illnesses. That could have been prevented with a vaccine. So that's that's one concern absolutely also concerned with the impact that this can have on families You know this is going to be the case adults. It's been the case of a long. You know meet that. We have tens of thousands of kids in the united states who've actually lost a caregiver to kovic into that's of concern as well. And then i think lastly i'm really concerned about her health systems as i said particular these areas where we're seeing the surges You know the health systems are getting overwhelmed and our healthcare providers are physicians. Our future should getting overwhelmed to dr. Bears wanna thank you for your time. Today we appreciate it. Thank you so much. Cheese will be next next. Unsquashed pod a cease meet survey and executives who keep pushing the return to the office. Kpmg chair and ceo. Paul can up. Our big found was that she owes her so really competent until the next three years about their own prospects for growth the domestic economy and growing competence actually in the global economy. We'll be right back. Each kevin o'leary here money court is all about dispute resolution businesses have problems and i'm here to resolve them money code with kevin o'leary new series wednesdays ten eastern on. Cnbc tv. Welcome back to squawk pod. This morning with joe kernan and becky quick. Here's becky google is pushing off. Its return to office date until january tenth of twenty twenty two in an to employees yesterday. The ceo soon upper chai's said beyond january tenth. We will enable countries and locations to make determinations on wind end voluntary work from home based on local conditions which vary greatly across our office which i also said that employees will receive a thirty day notice before their expected to come back to the office sticking with this topic professional services firm. Kpmg surveyed four hundred of some of the of the cfo some of the largest companies in the us and compiled their findings on a range of topics including the future of work. Join us now to discuss more palkan up. Kpmg us chair and ceo. It's good to see paul and and we're looking out three years in in this survey that's tough right now. What are the assumptions. That were making about the next three years. Because we're we're right back in the soup in terms of The delta variant and what's right in front of corporate managers face right now is the pandemic or covert again absolutely joe. Good morning. it's good to be with you today. Yes what our survey found was that she owes are so really competent over the next three years about their own prospects for grows the domestic economy and growing confidence actually in the global economy from the last survey. We also found that there was a high appetite for 'em in a strategic growth opportunities in companies. Continue to digitize beyond joe that also comes in the face of a lot of uncertainty right now with not only koga nineteen as you mentioned but the future tax changes that will come on both the global stage enemy. us supply chain disruption. Cyber issues incidents. It was a really serious issues that we're facing into despite that back you know. Ceo's are remaining very confident and when you mentioned the future of work you know we saw that. Ceo's named as our top operational priority. That was the employee value proposition. All very hyper focused right now. Our people in our organizational cultures. So many things go into the calculus now post pandemic and just listening to everything. You're saying yes. Supply chain related the pandemic but also related to. We haven't built up certain capabilities in this country. And we gotta do that. Probably get companies have flourished during the pandemic which which sort of gave everybody some companies. A blueprint on how to deal with things like this and and are they better prepared prepared to they feel better prepared if we continue to see variants and this situation i think they know how to handle it. And maybe you know successfully maneuver through these times drew. I think that's correct. Companies approved very resilient. I think we're very optimistic about the vaccines. But digitisation effort that companies are undertaking before the pandemic and have really rapidly intensified their efforts to digitize their business models or business processes are feeling really confident about how they're able to do business in a more digital economy as at present some challenges i mentioned earlier that would be questions around how digital transaction tax but there is a great degree of resilience. I think we're feeling really good about how vaccines are responding to the virus. I realized that we're in a difficult situation right now. But i think they are very optimistic about the future but now we know how value how valuable employs are given how some companies are having trouble invest. So you said that that a net may entail letting people work remotely for up to feel safe with the because it's not either or with the vaccine as we're finding out right. Now they're still you know people are still going to want to wear masks is still gonna wanna socially distant distance and they're still going to be some remote work and i guess you need to be more accepting of that if you want to retain key employees. No doubt about. Joan flexibility is the operative word it's red hot labor market. There's a lot of employees burn out still jas environment there's a lot of disruption from remote work. We need to have more shared office space in the future. We'd have more flexible time for employees in. We talk a lot about this hybrid environment. We're still trying to really design that hybrid environment for a future ready purpose in. I think a lot of us will experiment with what that entails as we move forward into the future. No doubt about it though. It's going to involve a lot more remote work in probably a lot more flexible space. That might be closer to people's homes. A ceo's also reported job that they want to see employees come back to the offices from time to time to collaborate and create ideas. That's going to be very important. As for the future of the employees returned to office from time to time. It really reported being very happy to see their colleagues. And i think that there's going to be a real mix or hybrid approach for many years in the future really happy No no no. I'm kidding i have the you mentioned something. I want you to drill down on. That is the thinking thinking about the tax implications. Were and i wonder if we go to twenty-eight percent corporate tax and if we have a new global minimum tax for for companies that operate all around the world. Are they thinking about. Those things is that is that likely. Will that be a headwind in terms of of margins. And is it something to prepare for. Joe absolutely we. We are helping companies scenario plan using visual visualization tools technology tools to look at the very scenarios. You know they're going to be interdependencies between the global minimum tax the taxes in the us that likely will increase under the biden administration. And of course they always cds looking at ways to modernize the digital economy and digital taxation says a lot of Interdependent changes that are happening potentially in the next year or two and we need to look at all that plan for those scenarios. Not we do cease leading ceos very much planning around what those taxes might do to their balance sheets and income statements. And it's it's really top of mind for business leaders at this time this new kinder gentler workplace where everybody gets to plan their own hours work from home if they want to. Is this transitory like the fed. Things inflation is. I just wonder how much of this is because. Ceo's want to do this and how much of it is because they have to because of the labor shortages everywhere. Becky i think it is a little of both to be honest with you. Employees have been working at home very effectively over the last eighteen months. And there's some real work like harmony benefits to that so what we need to do is calibrate to both what they need. And we're listening to our employees as we try to design that hybrid environment for future and we. We also believe that we need to have him come together to collaborate create ideas and we built at four hundred thirty million dollar learning development facility on lake. Nona florida that. We opened in january of twenty twenty and closed in march of twenty twenty. But we recently reopened it and falling. Cdc guidance and we're only allowing vaccinated employees at this time to that facility but when they come back and create and learn at that facility. They really have reported. You know really being excited about what we're doing to bring people back together but there's no doubt this going to be a balanced. We have to be future ready. Nothing that future were still trying to design as we look at what employees want and what employers need and try to balance those two things in the future. What kind of assumptions are. Ceo's making about the business cycle interest rates. I gonna stay here forever. Paul i mean there are some. There are some troubling inflation. There's some troubling headwinds. Other headwinds the horizon that that i guess we've seen in the past it's not like a pandemic but nonetheless it could be it could be very You know you need to deal with them. You do as we go into the future when there is the prospect for inflation. There inflation's here today. Obviously but increasing interest rates is obviously of concern into the future. But we do see leading. Ceo's modeling for all those possibilities you know. There's a tremendous amount of quitting the markets. Today as know by some reports one point five trillion dollars of investable cash in private equity funds. It's only invested which is reflected in that finding around the high ma appetite and companies to strategically transform their organizations through. 'em a in digitisation into the future. So i do think. Ceo's are paying close attention to inflation. They are you know looking at actions to take to raise prices increase wages and obviously they're looking at future. As monitoring fiscal stimulus has created a really strong economy for us. We also need to think about longer term what that might do interest rates all. Thanks for bringing us that. I guess that's and i said see if we had the cfo survey that was the same. You see the is that. ceo service. So we're we're getting all covered here. At some point. I think in the corner offices anyway who we missing hr. Maybe i'm sure that's coming up about the employees the valued employees worker bees very valued. Now quarter paul where we can ask for anything. I think that what do you think you wanna mcmuffin or i don't i don't think there's mcdonalds around here. Maybe one around the corner from you. That's the show for today. Thank you for listening. As always squawk boxes hosted by joe kernan vecchi quick and andrew ross sorkin weekday mornings on cnbc at six am eastern to get. The smartest takes an analysis from our tv. Show right into your ears. Listen and follow. Squawk todd wherever you get your podcasts and if you like what you hear or you have a few suggestions for us send us a tweet at squawk. Cnbc all right becky. Quick we'll see you tomorrow. Yes sir we'll meet you back here tomorrow. Clear thanks guys. outlast means. Pg brings long-term experience actively investing through thirty market cycles to deliver for our clients. Join the pursuit of outperformance at pge dot com. That's pg. Im dot com.