35 Burst results for "Jamie Dimon"
IRS Announces Taxpayers Can Make Checks Directly Payable To Any Corporation Or Billionaire They Want This Year
"The onion and onion public radio. This is the topical I'm Leslie Price. Mother fucker and we'll be right back. Hey, does anyone know who I talk to about getting my w two? If there's one thing everyone hates. It's doing taxes. However, the Internal Revenue Service recently announced a major change that they're hoping will make it easier this year for taxpayers to file OPR's financial correspondent Marcy Hammond joins me now with more on this marcy. What can you tell us well as lead the? IRS is rolling out a new system that will cut out the middleman so to speak starting this year. Year tax payers are instructed to just make their checks payable to any billionaire they want. It certainly does get rid of a step or two, but what led to the IRS making this change well irs funding has been cut by twenty five percent in the last ten years leaving the agency understaffed and under resourced. It takes a large workforce to get all that money into the pockets of the. The wealthy so from the tax agencies point of view. This change kills two birds with one stone. I spoke with Iras agent Marcia Krieg. Who explained how it works? Sending money to us have become irrelevant wasteful step. The IRS would cash taxpayers checks only for the funds to then be transferred to billionaires in the form of corporate subsidies, tax breaks and money grants for the corporations, but having tax payers. Payers right there. Check directly to Mike Bloomberg. Bill Gates or anyone in the coke family really streamlines that process so tax payers choose which of the nation's richest CEO's. They send their money to to be honest. It doesn't matter any of the five hundred and forty billionaires in the United States will do because your cash is eventually going to end up going to them anyway. However Payments Jeff Bezos. The fastest interesting, and how has it been working out for those who have already filed their taxes this year? Well I spoke to a few taxpayers, and so far they seem to think this new rule just makes sense. It was really easy. I paid my billionaire online turbo tax offered me some suggestions to choose from Howard Schultz Jack. Dorsey I chose the Elon Musk option and with just a click I deposited the money right into one of his. His offshore accounts I went down to H. and R. Block and ended up owing two hundred dollars to mark. Zuckerberg. I thought about fudging the numbers a bit, but facebook probably House on my financial that already in I. Don't WanNa on it. That brings up an interesting point. What if you owe a lot of money and taxes and the time to pay off or to get an extension? Well Billionaires Larry. Page Jamie, Dimon and the Walton family of. Of already set up their own tax, departments offer payment plans to tax payers, but just a warning. The interest rates are very high. It might be your only choice if you can't afford to pay. Just don't try to duck out on paying unlike the IRS, these tycoons wield a lot of power, and they will ruin you. Good advice but marcy I have to ask. This information has been out for a while now and today is tax day it. It seems like all. This information would have been more helpful to our listeners a few weeks even months
Stock Market: Live News During the Coronavirus Pandemic
"Yeah all right so I can we check our four oh one K.'s yet it looks like over there might be some good news yeah you can kind of peak between the fingers anyway because the stocks started the holiday shortened week with a nice rally the Dow is up by five hundred thirty points more than two percent day yesterday market got a boost from optimism about work on vaccines and signs the economy is starting to re open this the number of new coronavirus that cases slows there were reports yesterday that showed pickups in new home sales and consumer confidence and the stock market futures are higher this morning Dow futures are up three hundred fifty two points so we could to be on a bit of a trend still it there's a little bit of optimism I mean we are beating here in San Diego hair salons are back open which you know every woman is like here thank you please cut this off use that myself all of us shop so it is so we're looking at the the optimism giving the market that boost yes we are and there are some other positive shoots a home loan demand is the continuing its of recovery mortgage bankers report this morning the number of applications for new financing rose eight point six percent last week at the highest level since January purchase loan request of but then up for six weeks in a row now they're up more than fifty percent since the beginning of last month apple will re open another one hundred of its U. S. stores this week though more than half the outlets will offer curbside service only and move move a lot of talk about the CEO of JP Morgan chase was cautiously upbeat Jamie Dimon says he sees in his words pretty good odds of a fast economic rebound in the third quarter so look the best yeah let's talk about you know every kind of business it's moving people from one place I mean we're talking planes trains and especially Amtrak right now yeah experts filed for bankruptcy late last week and yes now Amtrak is preparing to slash its workforce by as much as twenty percent even as it prepares to add back some roots CEO bill Flynn sent an internal memo to employees saying ridership and ticket revenue have declined by ninety five percent yes whoa ninety five ninety five percent wow okay let's talk about let's try to do something that's more positive how bout this Walmart partnering with thread up yeah this is interesting at the thread up if you're not familiar with them as a company that sells second hand clothing online the resale clothing market has been growing a lot in recent months and years even though the giant retailer is looking for ways to diversify its these commerce business beyond groceries and consumer staples a Walmart dot com will offer used women's and children's clothing as well as accessories handbags and footwear nearly a three quarters of a million products and all all right let's get down to the last story is that this pandemic expected to have some long lasting financial impact on just about almost everybody right you you started out talking about you're asking about four oh one K. plans and Bankrate dot com's done a survey and says thirty one million recently unemployed adults with retirement savings have tapped those savings are planned to do so very soon nearly a fifth of working a recently unemployed adults work ours say they're contributing less now to their retirement accounts than they were prior to the pandemic and that's mainly because of lost income or the need to keep more cash on hand to cover additional expenses some people say they're helping of relatives who are out of work that happens a lot well yeah I I don't think I know I don't think that there's one person within my acquaintance that has not somehow had to financially juggled either helping somebody else out in their family or with you know it within their own household I mean everybody's been touched by this if we can just hope for a quick turnaround you know some some people are very hopeful but there there are naysayers as well so keeping our fingers crossed and and hoping the optimistic people are right yeah all right Jeff Ballenger from Bloomberg thank you so much Jeff okay have a good
"jamie dimon" Discussed on Snacks Daily
"To morally bound themselves by selling produce juice cleanses in a few years in the meantime we checked out their earnings last Friday. Sales rose six percent last quarter. Honestly no we don't care because last quarter's earnings were from the pre corona economy world and that doesn't matter for companies any one thing we did notice though. Is that if you look at the data coming in the liquor sales right now. Constellations ENTIRE LIQUOR CABINET IS UNIQUELY FIT for the corona economy alcohol sales over on the US or fifty five percent in the US at the end of March and there are a few in particular that are living their best lives case in point. Let's talk about ready. Made cocktails up one hundred and six percent not totally. Sure what this means. Is this can marguerite in there. It's kind of like vodka rose as Spritz hard lemonade think I believe they say a smirnoff ice before Rosa. You'll be okay so ready made cocktails constellations winning now in the Beer Category Beers been losing shelf space for years but mainstream beer sales are up ninety percent right which fits really nicely for constellation. Because they're highly horrible. Twenty four packs and Medella Corona are flying off shelves people hurting their backs lifting those things. You need twenty four twenty four packs. You're supposed to lift with your legs. Not your bath finally craft beer sales. They're actually down seventy percent during the Korean economy because so many bars where most of their sales occur are closed. We're talking seventy percent of the income for craft. Beer comes from those bar and Constellation isn't selling the kegs of the extra heavy stuff that you pretend to understand what all those metrics mu. Hey Tony. What's the hops density on the quadruple? Again I'm taking notes over here so beer trends wine trends booze trends. They're all working for constellations. So Jack what's the takeaway for our buddies over at Constellations Constellation knows the five keys to a millennial consumer's hearts snacker Jack and I fell in love with slide twelve their earnings reports so much. So we will tweet this out when we're done getting an off of our fridge funny thing about this slide. It's pretty amateur. Powerpoint is like there's a lot of overlapping lines. There was no designer involved. The INTERNS OVER CONSTELLATION. May WanNA step up their game but this slide is entitled understanding the consumer. It's broken down into five elements better than any company. We've ever seen understand our generation of consumers so first element to understanding the consumer. Is THE UNIVERSE. People want to feel understood. The second is betterment you. WanNa be consuming things? That are both functional and emotional and their benefits. The third is constellation. Called the new value equation is not just pricing quality. It's social responsibility. Sustainability an ultra convenience. That matter the fourth is experience is everything. They want their brand encounters with their products to break up the monotony and stress of everyday life. Finally consumers want trusted transparency. Basically give me some honesty corporate. Bs Now we've seen other companies reported on snacks. Do some element of this like Nike or Patagonia glossier. All they do some part of it and we'll be watching to see if constellation can capitalize on all five of those elements in a single drink. The ultimate mixed drink if you're honest knacks challenge on a run right now. You gotTA turn around. Because we're halfway done for our third and final story. Jamie Dimon Aka last targe. Aryan just spoke out about Kobe. Nineteen and his bank J. P. Morgan Chase shows why this isn't a financial crisis that we're he were there by the way financial mic all. The dragons are dead looking around. I don't see any over here. Nobody is seeing a dragon in three hundred years. Actually there's one still left. The name is Jamie D. as in dragon diamond correct. Jamie diamond is the only big bank. Ceo During the financial crisis. Who is still in charge of one of America's top banks? We're talking about the kind of Guy. He's got a heart tattoo on his left. Calf Ben Bernanke. He's got one too. If you went through the financial crisis you got one. He saw the financial system. Break Two thousand eight Yep then. He saw the economy tank year late. Oh Yeah and then. He watched ten years of a slightly slower. Cover did it all as CEO of J. P. Morgan. Oh by the way. He is recovering from a fresh heart surgery but he finally spoke yesterday in a letter to shareholders about the corona economy. Nothing better than a goal fashioned Ryan on the pay per letter shareholders. That's right it wasn't a tweet. It wasn't a zoom. It was a letter to shareholders my old school. Atticus finch dad in Vermont. Keep it classy Jamie now. Here's the key thing Jack. I noticed this. He referenced. A bad recession potentially coming but he pointed out that his bank is ready for that battle. And that's important G. P. Morgan has simulated a quote unquote extremely adverse scenario. This doesn't sound verse at all very adverse if the economy shrinks thirty five percent this year which would be big J. P. Morgan would still be able to lend to businesses. That was encouraging. And that is why Jamie Dimon refers to his bank as a port in the storm. Jamie diamond loves saying things like old school expression. We're like you spend a little too much time trying to become a hemingway during this whole work from home situation. Jamie port in the storm is apparently like a refuge from chaos where you can find common comfort it's beautiful. We love the metaphor next time. Let's put this into more poetic prose where you're going Jamie diamond. Also stressed the importance of planning right. Now Yeah how and when the economy is going to get started because people need to get back to work if you're J. P. Morgan employees. Right now you probably WANNA hit up your team. And say hey. I'M GONNA need to expense a lot of things. I'm going to be comfortable in this office. And a couple of months now. He also stressed of course because he loves to Brag about his institution that JP Morgan is so strong he is not even going to consider cutting the dividend. No unless that terrible extremely adverse scenario you just described happens for the rest of this year. Quick Reminder the dividend that quarterly cash check that shareholders get sent from a company. Just like an Anna would give you in the mail but you only send dividends if you financially Ken if you have like prophets and plenty of also reminder. Jp Morgan is the second biggest bank in the US. The number one most I will bank in the US and the number one most profitable bank in the United States by the way before we hit the takeaway. We should mention J. P. Morgan Chase has been criticized for not ordering work from home sooner. They probably could have saved more employees from catching the buyer. Spoiler alert on that takeaway. Oh Yeah J. P. Morgan was a little too busy making record stock trading during that period. So Jack Let's take away for our buddies over JP mortgage banks make our dollars go further and we need that more than ever snappers. If you're trying to picture banks right now picture them like heart that pumps money through the entire economy so it can get to where it needs to go but nick last crisis in two thousand eight and two thousand nine banks were broken. They crumbled under losses and then they needed bailouts and then. Those hearts couldn't money throughout the economy. Now the silver lining to the terrible banks from the last crisis needing a bailout. Yeah is that intense regulation followed and now because of that. The banks are stronger than ever. We're talking fewer risky loans. More cash on hand to handle another crisis. They've got their Mojo back. They've done their ties. And it's a little more casualty office right now while the viruses here banks are crucial to lend out rescue loans. That businesses can survive until this is over and when the viruses gone banks are crucial for loaning out to businesses. So they can rebuild the one of America's biggest strengths to the survive. This crisis is our strong banks. Jack in your whip up the takeaways for us over there please irks. Your hathaway is a stock that owns lots of other stocks. It's also the smart money and the smart money just sold off its airline stocks. Yeah bad time for airline. Stocks are second-story Constellation. Brands is serving up. Just the right drink that people want in the Korean economy. They all so no lineal consumers. Better than millennials. No themselves very true. Third and final story J. P. Morgan Chase has this same. Ceo Today as it had in the last crisis Jamie Dimon Jamie Dimon. And he's proud that his bank is strong enough to support the economy when it needs it most a last target area now time bar snack fact of the day. This one came in a little battered with some chips on the side. A little bit of cod. And maybe some Worcestershire. Shaw are you running out of a British food things? I don't know how to Pronounce Bushmaster. From Henrik. Cain of Canterbury England. Who is a sixteen year old snacker? We are so thankful. You're listening any relation to hurricane the English soccer player and waited for him to answer on that. The answer sounds like maybe an I believe up there. It's pronounced Canterbury in Garland Adam Newman's fortunate. According to Henrik Kane has plummeted by ninety seven percent in the past year. We're talking about the CO founder. We work who went from having a thirteen point. Five billion dollar fortune last year to about four hundred fifty million dollars today smackers. You looked fantastic today if you're wondering what was that squeaky toy noise and yesterday's pod yes that was the official profit. Poppy of robinhood snacks. And you can check out a picture of river at Jack. That's my twitter handle. I'M GONNA tweet out of New York and we'll make sure we get you. Those Constellation slide number twelve the Robin Hood snacks. Podcast you just heard reflects the opinions of only the hosts who are associated persons of Robin Financial Alyce and does not reflect the views of robinhood markets inc or any of its subsidiaries or affiliates. The podcast is for informational purposes. Only is not intended to serve as a recommendation to buy or sell any security and is not an offer or sale of a security. The podcast is also not a research report and is not intended to serve as the basis of any investment decision Robin Hood Financial LLC member Finra as IPC..
Dr. Atul Gawande: We need a national shelter-in-place
"As Corona virus cases flood the United States Healthcare System orderlies nurses and doctors are taking extra steps and making harder decisions as they maintain. The health of the American public are highlight guests. Today on the pod is one of those essential care workers dr a tool. Gwanda of Brigham and Women's Hospital in Boston he's written about those decisions and crucial methodologies in two of his books the checklist manifesto and being mortal both should definitely be on your isolation bookshelf. They're fantastic. He's a surgeon a staff writer for the New Yorker Andy's the CEO of haven the new and still quiet joint health care venture between J. P. Morgan Amazon and Berkshire Hathaway back in two thousand eighteen. That venture was just getting off the ground. Jp Morgan CEO Jamie Dimon and Berkshire CEO. Warren Buffet told our own becky. Quick about their chosen leader for the new venture at the time. Dr Gomez identity was mystery. Oh and the Jeff. You'll hear Warren Buffett Mention Jeff bezos. We have the right CEO. I'm very enthused about it. I Know Gay me and Jeff are to have. We have announced any individual character culture capability. Heart mind the whole thing now. Of course we know who that individual is and we were privileged to hear from him this morning on Squawk box. Here's Becky quick. Kicking off the conversation with a tool. Gwanda doctor go on day. Thank you for being with us today. Glad to be here you wrote an article for the New Yorker. That really caught our attention and I was hoping you could shed a little light on. What's happening here? You talked about what happened in China. How their first response in Wuhan failed but how they came back so much stronger and really managed to contain things when you talk a little bit about those extreme measures that they took and whether or not. You think we can do that here. Well there was China including than Hong Kong reacting than Singapore and there are lessons coming from all of Asia that suggests there's a few critical elements. First of all you got to recognize. This is a national epidemic and we haven't woken up to that. I'm worried I'm worried about what's emerging in a bunch of cities not just in New York. We'RE TALKING NEW ORLEANS. Atlanta DALLAS MIAMI DETROIT PHILADELPHIA. Chicago are death. Poker curve is now worse than when China was at the same stage. We have twelve states with more than fifteen hundred cases. China had won province so on you know what what works on the flip side. Washington state is flattening the death toll curve and there are some key steps borrowed from that experience in Asia shelter in place which some states are doing. We are about twenty. We don't have the others on board. And we need it really a national shelter in place. It's physical distancing and really being critical about that it's testing tracing contacts and then there's work to do recognize hospitals cannot become sources of infection. And we've got to make that not happen like it's happening in Italy and Spain. How do we do that? Well the the lesson out of Singapore and Hong Kong in particular that I drove into. And you're seeing IT AND SOUTH KOREA'S WELLS. There's a playbook and the playbook includes that healthcare workers when they come into work. They have a daily symptom check to make sure they don't have symptoms of covert nineteen. They go home if they don't and they have a surgical mask From the moment that they come into work in throughout the day taking care of any patients. That's not just because you keep them from getting affected. It's that they're picking up infections in the community and they see it keeps them from spreading infection to others and that's and that's really the critical thing another another part of their playbook which I think is really interesting. They found that they did not have to automatically quarantine staff workers when they were exposed to a corona virus patient. They only needed to Corentin in Singapore. They did it only if it was greater than thirty minutes at less than six feet from the person for If you didn't have a surgical mask and otherwise people kept going. And they had no transmissions in the healthcare space and I think healthcare turns out to be so important because we're learning now. What keeps healthcare workers safe? That's going to show us how we can get everybody back to work safely in Italy. I read that something like eight point. Three percent of the cases that they've reported have been healthcare workers. They're not doing any of that. They weren't doing this and And Not really committing to it. Frankly we haven't been doing it either. Right as of I wrote this article about a week ago today We now have most hospitals starting to flip into taking these core measures. But but it's still way too slow in the hospital setting. We need to have that process where you know when you come into work. You are checked for an asked. Do you have have you had had a feeling of fever today. Have you had a call new cough new shortness of breath? New Loss of taste is be turned out to be a potential indicator of Kovin. It's turning up as a as a problem and Any new muscle aches. And if you do you stay home. you have to Self to self isolate for a period of time. What we should do is be able to offer tests and more and more places are able to offer healthcare workers tests so they know if If they really can come back that that part is critical and then having masks while we're while we're at work supplies are critical issue. So in some places we have to ration the masks in my hospital I get one mask for the day and and that's and that's the way it's gotTa work. Dr Go onto one of the questions I wanted to ask you is. There is a conversation happening in financial circles and in the White House about the cure being worse than the disease. And I'm hoping you can speak to that from medical perspective but also from an economic perspective because some people look at this and say if there is a financial crisis that is lasting their health impacts from that. How do you think about that? I know you spent a lot of time thinking about all of this in a national epidemic Where it's picking up speed in places that haven't had it. The economic damage is going to be worse. If we don't lockdown understand that there's this talk like you know it's only the elderly and the and the frail who get sick They are at risk of dying but look at people just middle aged forty five years old. A quarter of them need to be hospitalized. In order to survive when they have this virus and about five to ten percent of them need to be on a ventilator for days you have this sweep through infect sixty million people. We're done we will not be able to have those people Forget getting them back to work. We will not have those people come through and survive if we can't actually take care of them so you know the idea that that this is that you know maybe we should just go back to work And and this will all be fine and just just let those old folks get sick. Or maybe we'll quarantine the nursing homes. That's not GonNa do it. Doctor mentioned the shortage that we have when it when it comes to supplies What about the potential shortage when it comes to healthcare workers either? Those who get self quarantined those who get the virus. Those who don't feel comfortable working in that environment because they're afraid of exposing their family. Yeah I mean here in Boston. We have more than one hundred healthcare workers who tested positive largely from virtually all from picking it up in the community. But we're finding that the practices that you borrow those from Singapore and Hong Kong. They're able to keep spread from happening. They're able to keep the workers safe the critical things that we gotta have our Masks and gloves and those are so far. We've got supply for the next few days. I see the supply chains continuing to improve. There's there's been this lag we didn't get on it early enough And so when I talked to the manufacturers I talked to the to the government officials were seeing that there is product. Getting into the pipeline. And then you know it's distribution is imperfect we will get through it but the next couple of weeks are not going to be great and so yes we have to make sure. Those healthcare workers are priority. If you have masks any any of your business get them into your
JPMorgan CEO Dimon has emergency heart surgery, recovering
"JPMorgan chase informed employees and shareholders last evening that CEO Jamie Dimon underwent emergency heart surgery yesterday and is recovering the sixty three year old Dimon the bank's chief executive since twenty oh five suffered a tear in the lining of the aorta blood vessel necessitating that
"jamie dimon" Discussed on Squawk Pod
"He said something about how he's not sure that humans what humans can really do to try and combat climate change. Do you agree with that or would you argue the other side? I think An and rex working on this When he was at the company and we continue work on that we step back and look at First of all we're in the in the business of meeting society's needs We recognize that one of the needs is less carbon intensive energy sources. And so we look at where today are hydrocarbons used. And what are the alternatives available and how Sufficient is the solution set and we see significant gaps in commercial transportation power generation and industrial sectors. And so we're working on technologies to help close that gap or working on carbon capture and storage to use power generation using industrial applications. Were you looking at new materials? to redesign manufacturing processes to take energy and heat out of those which then reduces the matter greenhouse gases. We're looking at bio fuels which are energy dense that can replace Dent Diesel so there's a lot of work that we're doing that we think can contribute to that space but it will require a technology Advancement and breakthrough to ultimately get to the stage where we can Reach the size aspiration of eliminating co two emissions. Kind of talk to you just about Corona virus. I know that Exxon Mobil Lee has the tenth largest travel budget of all the companies. That we we kinda follow out there. Have you guys been cutting back on travel as a result of what we're here we have? We have actually Because of our long history of operating a Lotta different locations around the world you think about a bowl. Think about SARS your these are all things that are corporations had to deal with the different times and so we have a pretty robust protocol in place that we exercise we find ourselves in a situation like we are now the criminal buyers we executed that very early on which means cutting back discretionary travel and means folks moving into their homes work remotely. We've we've geared up our workforce so they can do that effectively reduce the number of people coming into our facilities so we implemented that very early on Tab. You've got long ago when when I came out we we set the ESPN. And then what happens as we find that krona buyers breaking out in different locales locales? We will stand that. Espn system up. We've got about fifteen hundred employees and China about seven hundred fifty in Italy Another one hundred twenty five or so And Korea South Korea and so All this protocols have been put in place and very pleased to say we have not had any employees have been impacted by the current virus. Has It affected your operations at hasn't affected operations. We do some of our customers Particularly in China have pulled back and so that that meant less product demand We have Fab yards constructing materials. Things slowed down so there have been slowdowns. I would say and some of the work that we're doing but we're actually seeing that pick back up again and I I know you're not a variety Or even an economist for that matter but your gut feel as a CEO who watches the numbers on a daily basis. What what's your best. Guess about what happens to the global economy. We're expecting to see something where we have a dip. And we'll see that kind of expand around the world we have. We saw the dip initially China. We're starting to see. The rebound my expectation is and those low cows where you see that kind of contagion spread that we'll see that dip but then we'll see a fairly quick rebound. That's interesting when we had Sam Zell yesterday here who said he thinks The Energy Patch is a great place to be investing and he said by the way everybody else already invested in. It is in the position where they can't invest a whole lot more because they are underwater on so many the is when you look back and you look at these companies like Sam Zell who is I- i- conic the all these companies. Make a ton of sense but we're in this. Es investing phase where anything with any sort of harmful carbon footprint or any chemicals as being thrown out and when you look at the seven percent yield the stocks down twenty eight percent year to date and everything in the energy complex has been underperforming not for this year but for the last five years. Can't live without this stuff though. The Globe doesn't continue to turn. Tito's is warning customers about using vodka vodka to make homemade hand sanitizer in a tizzy air responding to several inquiries on twitter. The company said per the CDC Vodka does not meet the alcohol requirement needed for hand sanitizer. Sixty or seventy percent alcohol at least to kill the virus according to the CDC. Tito's is like forty percent or something so probably it's probably been ninety. What's appropriate is the ninety percent or whatever it is really forty is eighty proof and one hundred proof is is really strong fifty percent alcohol. So you need seventy you beat the virus with any of the Pure L. or any of these things you have to have like sixty to seventy. That was a problem with with kids putting their hands in their mouth after you put pure L. on them. I remember that when my kids were younger. We didn't want before it before it dried up. He didn't want the alcohol content going going into their mouth. Crazy stories. Cheese will be next next on Squawk tied the US Secretary of State. Mike pompeo describes working with China during a global virus. Outbreak has proven incredibly frustrating to work with the Chinese Communist Party to get our hands around the data set which will ultimately be the solution to getting the vaccine and attacking this risk and how. He's keeping himself healthy during his travels. No fist-bump for you. I'm happy fist-bump to we'll be right back. Today's uncertainty may cause you to question your investment strategy but with the right perspective and investment solutions. We think it's possible to stay on track toward long-term goals with Janice Henderson. Abandon your dance. Not your financial goals in fact this squad from CNBC Open Andrew. Good Morning. Welcome back to Squawk box right here on. Cnbc Andrew Becky quick and Joe Kernan virus hitting countries around the world the US State Department has issued travel advisories for American citizens including for China. Italy South Korea The advisory for China is a level. Four Americans should not travel there. This comes as the number of infections in the United States has topped two hundred with twelve desk. Join US now with more on the response of the virus secretary of State. Mike POMPEO's secretary. It's great to have you in Especially in studio here. Great to be with you the testing kits. I know we that seems to be paramount on what we're trying to do. I know the vice president is heading things up and we were looking at some lofty numbers. Goals that we were told we would hit that. We are now not not going to hit. What's the hold up and killing really address this without many many more testing kits? So I'm involved in the testing gets directly. I'm trying to work on the things outside the United States to make sure we get right there. You hear about it but I've seen I've certainly seen the work that's going on trying to get the private sector ramped up to get the rate right so that we can do all the testing. That's needed World War card at that. We have taken this incredibly seriously. We'll continue to do that. The testing kids are one element of America's effort to reduce testing hundreds of thousands of people. And we I was at the original or you're not a next. I don't know if you're the person asked but it was the original agent from the CDC that they didn't realize was wasn't didn't work properly. I'm not the right person to ask. I'm not I've not been involved in hard. I love it but you would concede that something that that we gotta get it. We've got to get it right. We got your. Here's something you might be able to to address in that. Is I am hearing from UNICEF the Restaurants Union. The restaurants are there's people in restaurants where it almost looks like. China has had some success in in dealing with this capping it. We would hope that that can happen. In other countries around the world including the United States. But we're told that we don't have the same type of capability to quarantine people because we're not authoritarian. Is the Chinese governments as the Communist Party. Could we have a similar success here with our civil liberties that we take for granted? I'm confident we can handle here. I'm confident we'll handle it. Better than any nation in the world I I'm happy you complement of the Chinese Communist Party today but remember this. This is John. Corona virus caused us the information that we got at the front end of this thing. wasn't perfect and has led us now to a place where much of the challenge we face today is put us behind the curve. And that's that's not that's not the right it's not the way infectious disease doctors. Tell me it should work. It's not the way. America works with the transparency and openness and the sharing of the information that needs to take place It has proven incredibly frustrating to work with the Chinese Communist Party to get our hands around the data set which will ultimately be the solution to both getting the vaccine and attacking. The Chinese government is is now pushing back in again eunice. Yoon has been reporting some of what they put in the state run media where they say that. It's not clear that this even came from China at this point and they're mad at the United States for not thanking them for the efforts. They've taken to try and slow it down to this point. What are you saying? I'm happy about the efforts that they have taken but no less authority than the Chinese Communist Party said it came from Wuhan. So don't take Mike Pompeo's word for it We we have pretty high confidence that we know where this began and we have high confidence to that. There was information that could have been a male.
"jamie dimon" Discussed on WCBS-FM 101.1
"Had a tear in his aorta so I have to fix that up check out the Jamie Dimon I hope he's feeling better at seven fifteen the official John Elliott forecast mostly cloudy with afternoon showers early high of forty eight then temperatures drop through the afternoon down at thirty three tonight chance of a little wet snow overnight combine that sure you know what I'm I'm just looking forward to Monday so and then your weekend forecast direct from the horse's mouth what a horrors yeah it's going to be a little wet this afternoon the concern is going to be a little change over but you know the reality is we are start first known we're not gonna make up any of that deficit in the city high today of forty eight what this afternoon and overnight tomorrow starts with clouds then it brightens up forty five Sunday stands has stick mostly sunny and fifty seven wait wait wait Monday is even better and sixty five I mean not only is it the day of the doomed an oreo day and middle name appreciation day it's going to be a great weekend into the first part of the week right now still Winchell thirty to forty eight later today make it a P. one lessons I got I think one of our number one P. wireless is Laurie martini I got a big box in my office this morning yeah it is and I opened it up she said as a I years almost looks like a year's supply girl's got.
JPMorgan CEO Dimon has emergency heart surgery
"Finally we have a big story in the world of finance JPMorgan CEO Jamie Dimon is in the hospital after emergency heart surgery to treat an acute aortic dissection here with more as Bloomberg stock Chris there in New York it's a serious condition involving a tear of the large blood vessel branching off the heart JP Morgan said it was caught early and the surgery was successful J. P. Morgan is placing co president Daniel Pinto and Gordon Smith in charge during Dimon's
"jamie dimon" Discussed on Squawk Pod
"Long time. We don't completely understand why the causes the effects and we may not know for another ten years in this particular one could policy. I mean I. I get frustrated that we don't have better policy around the world and and I applaud the politicians and strong enough to get up and fight for good policy. which doesn't always selling is good for the citizens but it is you know and so and president mccrone own? I mean I think he's fighting the fight to get French growing better. Jamie WanNa thank you very much for your time. It's always a pleasure seeing you and we love this interview here Indaba so thank you very welcome. It will be next on Squawk pod. I've got a pack and get Outta here. I'm going to show Faqih Andrew and Creamer unpack that extended extended interview with Jamie diamond back in a moment. Welcome back to squad. It's the Swiss Alps. It's chilly mostly. It's Wendy. It's beautiful and it is very busy is always a marathon earlier this week. Joe had a sit down interview with President. Donald Trump which meant a twenty one hour workday for some of us but everyday they were there. Joe Becky Andrew Katie. Creamer creamer stayed onset outside after the TV broadcast to record some special content. Just for you our podcast listeners. Right now I'm on the roof of the Congress Center in Davos Switzerland with is the home of all the media tents and we are out in the elements so rain snow sunshiny blue skies. We're here for all of it. When the team sat down for the next conversation you'll hear it was actually sunny really sunny injury and becky whip out their shades for the occasion? We have documentation where you're all right guys. We talk to Jamey diamond for an extended interview the CEO and chairman of J. P. Morgan Chase Andrew. What did you think about his sort of take on the economy? I I thought he was bullshit. I didn't think he did you think he didn't. I thought he was. Hasn't he said we're doing fine. We're doing but we're hitting new records everyday on the market and that doesn't sound like just you see something you can always count on Jamie to very rationally and reasonably say that there are things that need to be fixed about the current economic system. And you know the headline writer is going to say Jamie. Jamie diamond thinks capitalism and then that causes him to go the other way and he can make the most spirited defense of capitalism of anyone. I've ever heard he didn't WanNa to answer the question. We asked him about Bernie Sanders and Elizabeth Warren. He would he would've answered. You talked about something else because he does get on a roll named names he said if you ran a company that says Jason where I don't think he wants to be killing people who you voted for by definitely alienate. I do think capitalism socialism thing. There is this sort of sense of what is socialism that he's trying to raise and you didn't listen to his answer because he they did at basically basically being a little bit pregnant. There's no such thing as a little. That's that's what I heard is if you have the government owning the media production and and that is water on socialism. He said eventually that is a corrupt because you have people. The government elected officials officials who are using that power by votes and maintain their power ten to one on Bernie versus trump. On who I bet on anything I have. I have a question for kings but I don't give ten to one odds so he writes this piece. I don't think he liked the headline of his own. Piece set it sometime about capitalism. Wait where's the much sure. Advert Jamie Dimon less change capitalism. We might lose it forever off camera when he sat down He. I said I don't like the headline but most of conversation is actually the opposite of that in many ways you can find. What do you mean meaning I i? Most of the conversation he was having with us wasn't really that he felt the capitalism west. Brian in fact he made the argument that it was the greatest thing to ever happen happened to mankind. You can go and so so then. So then what do you make of what he make peace where I think that editors put what they what magazine was. It was a four time. Duff said here's a here's the other thing you hear you gave that fact that game now. That was eh for everyone. Billionaire created. Yeah two hundred and fifty thousand people were lifted out of poverty. Fifteen twenty years. What's the source for that? Or how does he figure at this number. If you look at how many people in China that have come from a certain level of income fifteen hundred dollars up to where ten thousand you take the whatever you want to use. The the poverty level immediately agreed and said his own numbers. Kind of back that we can put up with a couple of greedy billionaires if we with two hundred fifty thousand people Radovanovic Poverty. That's the show for today on our rundown tomorrow. The anchors might be on their way home from Switzerland covers. It was but here on the podcast. There is so much more Davos content still to be half including some things. That didn't make if you listen to this podcast. You should listen to the end because you'll get to hear it. There's peaks squawk box is 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 Interiors. Subscribe to slack pod. Wherever you get your podcast we'll meet you back here tomorrow Thanks guys this. CNBC podcast is brought to you by TD Ameritrade. Do you wish you had a second opinion before. Placing trade with a strategy gut check from td Ameritrade trade desk. You'll get a second set of eyes on your trade idea to help you make decisions nations with more confidence. Their team of experts is available to help you weigh the risks and potential rewards. So you understand the INS and outs of your trade to learn more of contact. The trade desk at T._D.. AMERITRADE DOT COM slash trade desk where smart investors get smarter member S._I._P._C...
World Economic Forum: What to Watch For
"Today's episode. The World Economic Forum in Davos for forty plus years the world's leaders in business and politics had convened in the Swiss Alps for a whirlwind four days of meetings interviews panels and performances Andrew. Have you packed yet for Davos pact. That's actually this. After this project I caught up with Andrew just just before we both boarded a flight commercial to this year's World Economic Forum so Davos is the home of the World Economic Forum which has a long history. This is a group group that started in about nineteen seventy-one so almost fifty years of this global event for people who've never been there before. How would you describe it? What could you expect to see in terms of our our coverage this is the super bowl for business and policy leaders probably the greatest density of CEO's and government leaders in one place all traipsing through the snow together over the course of three or four days and a lot of the business leaders are engaging engaging conversations that are maybe a little bit different than what they're doing from a day to day basis we have a lot of discussions about about capitalism a lot of discussions about environmentalism mm-hmm about poverty around the world What kinds of conversations do you expect to hear? I think the single biggest topic you're going to hear about out this year is the idea of sustainability and. I know that is almost a cliche at this point. And it's a topic that's been addressed before Davos in really started To some degree at Davos however there is going to be a sea change in the way businesses operate and that real cost when when it comes to sustainability. You're looking at companies like Microsoft already that are charging their individual units for their carbon use. And I think you're gonNA see that in a very material way across the board so much of this is actually being led by Europe and some of the disclosure rules. And I think you're GonNa you start to see more and more disclosure around carbon emissions the cost of those emissions what companies are doing on. Es G. and it's just it's the the topic that is being talked about in the boardroom. Is it strange to talk about that. At a at a Swiss ski resort that people have to fly and in some cases take helicopters to get to. What's tell me about that? Disconnect people love to poke fun at Davos and think of it as you know speed dating and over Champagne. And everybody's flying there. I have never been fond of the argument that everybody should swim to Davos or otherwise. They're hypocrites if you really think about how. The dialogue and businesses changed around stakeholders and shareholders and purpose. And all of these things that have taken place place over the last twenty or thirty years they started Indaba. And so you know you can laugh if you want. But I I think that actually really the most meet some of the most meaningful decisions that are happening at the intersection of business and policy are happening there over the years. Joe Becky and Andrew have interviewed the likes of Bano J. P. Morgan Chase CEO Jamie Dimon His Royal Highness. Prince William the Secretary General Role of NATO and so many more but a consensus favorite for the squawk box behind the scenes team Andrews conversation with conservationist Jane Goodall at last year's event. Here's what Andrew told me about that interview a year later. Can we talk about what might have been my favorite interview that we did last year and that is with eighty five year old soon to be eighty six year old. Jane Goodall Maybe one of my most favorite interviews of my career. Oh that's awesome. I think definitely my most favorite image age. Somebody took a picture of me kissing. Jane's on head. Who took that picture Andrew? I think you did I did. Hey I think you did anyway. it's it's just it's an indelible image. I have long been a great admirer of Jane Goodall. Integrate I've had a great love affair with gorillas and monkeys and The environment and and being able to spend time with her and Talk to her about her own journey and how she sees the world today was really quite something. It was a very charming interaction. Action that you had with her I think that doesn't happen very often. When you're interviewing people especially the CEOS of the business leaders that we talked to in Davos you the other piece of it is? It's very rare and maybe I'm completely jaded but it's very rare. We're sort of starstruck and I was genuinely genuinely starstruck. Buy Jingle Jingle Bells raised about two hundred and fifty million dollars for her foundation for conservation work and environmental concerns and also also education about our planet and about The way we coexist with animals and I thought that message was actually really fascinating leading to bring to a meeting of the global elite. You know I think that what she does. She adds a sense sense of humanity empathy to a conversation among business leaders. That oftentimes missing that piece. Okay this is awesome. Thank you appreciate it.
JPMorgan CEO Jamie Dimon, who made $31 million last year, thinks wealth inequality is a problem
"JP Morgan chase CEO Jamie Dimon says the wealth gap in this country is a huge problem interview that aired last night on CBS sixty minutes diamond says he thinks the wealthy have been getting wealthier while the middle class incomes have remained flat for too long I would not have cut the tax the rich I would expect your income tax credit instead which is good which like a negative income tax for lower paid people probably should change men waiters I don't think it's been changed like ten or fifteen years or solutions to these problems for his thirty one million dollars salary last year diamond said that set by the chase board and that he has nothing to do with
"jamie dimon" Discussed on 790 KABC
"As The New York Times and made the same point with less finesse when billionaire investor Leon Cooperman was downright crude when he declared that miss Warren was wrecking the American dream well that's crude it's crude Jamie Dimon chief executive JP Morgan said that she vilified successful people in your time says let's get a few things straight the wealthiest Americans are paying a much smaller share of income in taxes than they did a half century ago a much smaller share of income in taxes that's only if you measure the tax rate not the actual tax paying if you measure who is responsible for all the taxes in America which are record rates by the way in terms of tax increase it Ted tax revenue taken into the government it's the rich paying nearly all of it in nineteen sixty one to the New York times Americans with the highest incomes an average of fifty one point five percent of that income in federal state and local taxes in twenty eleven Americans with the highest incomes pay just thirty three point two percent of their income in taxes yes that does not the actual participation rate in taxes are just calculating the tax rates on the books and ignoring all of the mass of deductions that people are taking at the time those deductions have been lowered the loopholes narrowed and a tax rates dropped I love this New York times is the federal government needs a lot more money decades of episodic tax cuts of what the government deeply and I love that they care about the national debt they're not talking about cutting spending of course is the spending that is driven that not tax revenues which again are at an all time high moreover says The New York Times a higher tax rate may we modestly against innovation and investment that calculus is incomplete it ignores the question of what the government does with the additional money higher taxes could result in more innovation all really more innovation she if you take more money from people who innovate and they'll do more innovation except for not except for that's that's untrue it's just it's astonishing stuff from New York times but you one white Elizabeth Warren doesn't after final tax that's the answer that's the answer okay just a second we'll get to the latest.
"jamie dimon" Discussed on Newsradio 970 WFLA
"Rush well when one big exciting half hour of busy broadcaster ran the bill gates in Jamie Dimon stuff coming from a couple rich guys that have finally been taken on the brink they've heard model is with Lauren is proposing and they're saying Hey No Way bro which is yes I found the Jamie Dimon stuff into the printer now folks is there a better time than now to understand how the federal government was set up by the founders now you may think that you know and I guarantee that those of you in this audience are way ahead of most others can you think of a better time than now to understand and appreciate our constitution do you remember what the original purpose of the of the of the the John the boy was we make fun of the guy it was a prank to add that there was a video that went along with isn't literal all bomber AD pajama boy it was some really unisex looking character could have been either a boy or girl I'm not getting what you got to you got the the the picture of just the was told not to was the lord of the job what put him up and look at this this guy could be a male or female you never know this picture since two thousand thirteen is wasn't all mama add need to remember what the purpose of it was over thanksgiving the purpose of this kid wants to sell obamacare to family this kid was to inspire other young people millennials another's over thanksgiving to talk their families into obamacare that was the point and they're going to do it again this thanksgiving that was in a bomb idea but I will guarantee you that this thanksgiving it's going to be impeachment and we're gonna see stories as we get closer thanksgiving warehouse thanksgiving is store governor because politics discusses the family table it nobody want's politics and it's going to be the left it's going to do it and they're going to be sending out flyers and they're gonna be tweeting a bunch of instruction manuals for kids to start talking to their parents and families pushing and promoting impeachment over thanksgiving now you better be armed when this happens there's no better time to understand and appreciate the constitution because they're young allies beating this back Hillsdale college has long held the belief that if more Americans under spillet and appreciated the constitution we wouldn't have nearly half the problems we have today and I believe them I think they're exactly right if the constitution what as under stored as people think they understand that the left wouldn't have gotten away with half of what they've got no with part of the reason they're able to is they distort what the constitution says white saying that somewhere in the constitution is a right to kill your baby under the not mentioned right to privacy do you know that there is no right to privacy mentioned in the constitution Robert Bork was not confirmed the Supreme Court because he believed that the right to privacy is an umbrella under which the Democrats get the corrupt anything that they can but there is not a right to privacy mentioned it's not right that is a normal right in the constitution it's implied in the Fourth Amendment search and seizures but it is not stated you know how many people don't know that you tell people there is no right to privacy constitution they're going to argue with you until the sun sets that I'm not going to believe you they think the right to privacy is the first right it's the quintessential American right it's not mentioned Hillsdale college has made it a requirement of every student to take at least one course on the constitution as part of a graduation curriculum now most honest even take more than one they become proficient at it now there's a website where you can keep track everything.
Wells Fargo chooses BNY Mellon's Scharf as third CEO in three years
"All right. Wells Fargo they finally got a new boss is a long time coming it is been friends of mine and we know that to be true for Hannah Levitt she's finance reporter tracking the company for Bloomberg she's in a Bloomberg interactive record studio very fortunate to get some time with you today because it's been a busy one to break it all down Charlie Scharf getting the nod a big paycheck break this down for us what we had and we finally get to this guy to leave the company hi so thanks for having me the day has come is it true that from what I understand that for months she would wake up and you're like god I wonder who's going to run she was calling source waking up in color and I have a dream that there's someone I'd like a Sunday I have a dream it's Tuesday Monday I have a thing that's Tuesday you woke up you like a like a like my whole ache yes so the day has come six month is actually one day short of six months wow it's kind of funny yeah but so Charlie Scharf who has most recently been running BNY Mellon your New York is taking the top job over at Wells Fargo it's the it's the outside higher that it you know and people were listing sharp as a dream candidate from. even the time before former CEO Tim some step down so it's definitely when you know someone said to me during the process the stock's gonna move five up five percentage points either way and it's it's right now up more than four percent so I think that the market clearly likes the idea first choice for wells you know it it he definitely was among the top people who were of any doing the job from New York which is definitely really interesting because wells Fargo's not based in New York right good about what. yeah sorry but not only not based in New York but they have substantial offices in other cities yes their big you know they're they're based in San Francisco they have there what I would what I refer to as H. U. two in Charlotte where they actually have more employees there than they do in Sam Cisco that's a holdover from my copay which they bought during the crisis and there's a few tubs and like the morning and it's all over the country yeah Phoenix they have a big presence as well I was talking to a former Wells guy this morning and sort of breaking down this idea of New York in a we don't have to dwell forever on it but it does feel notable enemy I think city even put out a note essentially saying this is gonna wear yeah well it for for sharp specifically it's definitely a big issue he was running these on the west coast and he came back to New York and part of the caucus you know at the. the huge part the calculus there was being in New York right from where he lived for his family lived at cetera so you know that could have been the thing for him that they needed to just okay and and if you're the Wells Fargo CEO you really are traveling all over the country all the places we just mentioned so there's a certain element of of that but I do wonder about because. a big part of this Wells Fargo story is. the culture that has existed for a long time at this company Tim Sloan who had been a Wells Fargo right there for a long time when he was named CEO are there a lot of questions that is this what we need you know to kind of bring Wells Fargo around it can it be an inside guy doesn't need to be somebody from the outside so I do wonder what kind of message that sends to employees at home base and the headquarters when you kind of have your CEO not right they bring in New Yorker CEO yeah that's a good question that's definitely something that I'll still be paying attention to as it unfolds he starts he doesn't start until October twenty first so we have a little bit short of a month until you actually get started but that'll definitely be something that I'm keeping an eye on so remind us why this was probably a pretty tough job to fill he's got a full plate for sure when he starts from what you can tell from talking to people what's the number one thing he has to solve out of the gate so the number one thing would be the regulatory issues for sure in Wells Fargo has had a ton of regulatory problems in the past three years after the fake accounts scandal erupted in twenty sixteen and then you know that led to the CEO at the time down some stepping down and then you know two and a half years later CEO Tim Sloan stepped down and they have fourteen outstanding consent orders which is a lot with various regulators they have an asset cap so they actually can't grow up beyond their size at the end of twenty seventeen the fed has that one in place and you know it's been such a problem that the see see the office of the comptroller currency had veto power over this appointment so it's really also mostly an actual crisis stuff right yeah I know the approval what I do wonder too is how much does sort of have to clean house and I know that they've been bringing in executives a lot of them from JP Morgan yeah. I wonder how much of that has to be a part of it we can expect that going forward yeah they really been going for that that JP Morgan Jamie Dimon dust so even you know what server top the bank they've they've gone even further in that direction but you know it's interesting Betsy do because the chair of the board said today on the call and and executives that wasn't in things throughout that a lot of the changes that they felt have been made have been the changes the correction just to make and they they made progress but you know surf is going to come in and he hasn't worked at the company for the past three years in the past thirty years like a lot of executives who are there so he'll have his own ideas about. to what extent they clean house and and what's left to do so that will also be the point watch thirty second thought how much discipline minister across Wall Street that there was a chance to have finally a woman read leading a money center bank and didn't happen another date yeah I mean that's that's also something of high interest rates like Wells Fargo has this rare opportunity where they can go out to market and and get anyone and and it's another white male just like as we saw boil over to Congress but you did a lot of reporting basically that said there are a number of women who were at least interviewed for this job and maybe even offered it yes I would not go so far as to say offered it but interview but that yeah that they were definitely in that was for sure priority you know for them and for people in on on all sides of this that is definitely something of interest but I think you know when you when you get someone like Charlie yeah it's like you go Charlie right he's a series banker that's for sure well he's got a full plate as we set him eleven finance reporter for Bloomberg they last so much talent at all they're still there and it makes me a little
"jamie dimon" Discussed on The Jason Stapleton Program
"Don't be expendable spendable as a company whatever you're offering make sure that you've done a good job of making sure nobody else can get it somewhere else. I mean i took very took it. It seems seems like an like something we glossed over at the beginning but i'm made a very pointed statement at the beginning of this show talking about this guy's failed marketing video that he probably spent a million dollars on just like hey. If you'd a just spent money with me you wouldn't have had that the problem because that's definitely something i would call it and yeah then i made a special point of talking about how expensive him because i hate having i hate having arguments it's overprice. I want people coming to me. The people who come to me. I want them already thinking that i'm the most expensive guy i want them already like ready for a big number when i tell them what it's gonna cost to hire me because i don't want to have the fight. I want the guy who wants the best person not not the one who's got the cheapest price. If you want the best you come to me if you want somebody else who's mediocre at what they do. That are pretty good but you might have a snafu who like you just had then you go hire them. You can always find somebody cheaper. You just can't get me anywhere else. See appointed that is my. I find it arrogant. I don't care. I want the guy who wants the arrogant guy. I only want. People coming to me that are coming to me because dude i want you because is your that good and i just hope i can afford it and every one of you no matter what you do should be in a position where we're your employer or prospective employer is saying you're the one i want. I just hope i can get you. I hope because i know that there are several other companies that are going to want you. So what do i have to do to make sure you were here and not there and i know some of your like. We'll just doesn't work for my job. It doesn't work for my industry now. It probably doesn't because you haven't focused on that. You haven't focused on building up your the your human capital your value. Oh you to your marketplace to make you into somebody like that but you can and like i said if you wanna create real wealth in your life. If you wanna create a true independence then you have to constantly always be looking for your exit. How do i start my own thing. How do i do what i'm doing now for myself..
"jamie dimon" Discussed on The Jason Stapleton Program
"More unique value now you you can you can show to a potential client or a potential customer so but you need to have that and you need to have multiple the places where you can go to find people who would want what you got you don't want to invest all of your marketing and facebook or all of it and youtube or all of it in google advertising advertising or direct mail. You wanna count sprinkle. You wanna know you can go get people in a variety of different ways and you want to constantly be doing that. If you're an employee. What do you want. You don't need the most important thing that you can do as an employee is make yourself so invaluable. You can't be fired to put yourself into a position where look at me. The company is gonna shutter the situation that you know that that <hes> every employee every employer hates to find themselves in is is walking around and having somebody show up saying i need more money and you realize i had to pay him more money like either that or i gotta seriously like. I don't know oh how either that or i got a big problem right. 'cause i gotta pay more or i gotta look at taking a very serious step back because if this person is going to leave because that's typically the way it happens. They show up in the mean like listen. I've had this other job offer. <hes> wanna take prefer to stay here. Here's why money from you you. You have to pay me x. number of dollars in also have to like that like you to match their offer <hes> and <hes> i need x. Number dollars some time off in this type of stuff and you're looking. I'm going all right. I mean all right done. In fact i better add a little bit more on there just to make sure because i don't want to do in the semi again again and you recognize that that employee is an invaluable asset to your team. They are non expendable. You cannot maintain your current growth rate or your current or your current function your current pace if they leave now. Every one of you has the ability to put yourself in that position at whatever wrong you're on you can ensure you're the last guy or girl fired then we might get rid of the rest of this division but that guy. I don't wanna lose because that guy's going somewhere. That guy is a hustler that guy's a guy. I can depend on so so instead of fire in that dude. Let me see a move him somewhere else. Maybe it's something else we can get him to do now. How great would it be if everybody else has got fired and your employer didn't even have to think about uh. Let me see if i can retrain him to do something else and you're already trained because you've been spending all of your extra time learning how to do other people's jobs and not be paid for it. You've been spending your extra time going to trainings related to the place you wanted to be at the job you wanted to get and improving your own <hes> human capital in that area of your life so that when the employer has to let people go or things change change. You have a variety of options. He's got choices with you could stick him in marketing. I could stick them in sales. He'll stick him in management because he's taking get all these classes. He already knows that side of the business. He's been working there in his spare time. Learning it see the value of that. Don't be expendable..
"jamie dimon" Discussed on The Jason Stapleton Program
"Com is available but it's like seven hundred bucks and i thought you know what network l._a.'s such a good one if we wanted to do this over and over over and over again and we wanted to make a thing out of this i said we <hes> we ought to we should just own that domain and then immediately my mind went to note. I don't have the bandwidth for that. That doesn't i'm fit into the vision. That's not what we're doing. This is just something that i wanted to do for made for fun and it doesn't take like almost zero effort to say show well. I'm gonna be here at this time. Come have a drink with me. Right doesn't take any effort on my part to do that but if we decide we're going to buy domain for sixteen in seventeen hundred dollars. We're going to develop a little website there. We're gonna have regular events and all of a sudden. It's the thing does that thing fit into the vision. Does that thing move us closer towards our goals for this year and the answer is no so we're like forget it then we're not going to do that. I think too many times entrepreneurs get lost because they don't have a clearly defined goal. They don't have a vision for what we're trying to do and so they end up wandering bouncing around from one thing to another unfocused and undisciplined because they haven't given themselves that discipline but i don't what do you think man. I had a thought while you were talking that. I'm there's so many people who expressed positive sentiment about democracy and they cringe at profit but a profitable company is a popular company. You're not going to be profitable if you're not popular with a lot of people so profit is one of the best indicators of democratic democratic passion. If if you have a popular company a popular product popular either offering and lots and lots of people want it in other words lots and lots of people are willing to vote in favor of it by giving you dollars. You're going to be profitable so profit it is democratic popularity and there's there's such a stigma associated with profit and and like companies that are too profitable where like we need to break them up. We need to tear them down. That's that's literally an anti-democratic position. You're saying lots and lots of people like you so this small group of us that don't like you need to overwhelm the will of all of the people who do like you this. It's it's democracy. It's anti-democracy chrissy posing as democracy yeah see. I think a lot of workers feel like they don't have any power like oh i don. I don't think he's got he owns the company. He has all the money. I don't have have any power and therefore we need somebody to impose rules and regulations on this guy to do what he should be doing for me and and the answer is no you employees have an incredible amount of power. I want you to think about i mean think about amy right now aimee and matt what if i entreat amy very well and they just decided to show up tomorrow and be like you know what we're just done see we're. We're going to go do something else. <hes> no. We're not going to give any warring because you haven't treated us very well and we don't really care about you and we're going to go think about what that would do to our operation to my company. It would be crippled absolutely crippled. Would i get over it. Eventually i would it would slow down on the pace of our growth significantly and i'd lose to incredible people <hes> that that that that buy into the vision that we have here but my point is that they have an incredible amount of power one of the things that i say that every employee employees should be doing is going to their employer her and trying to find trying to get the employee the employer to pay for their education not talking about your college education..
"jamie dimon" Discussed on The Jason Stapleton Program
"You're i don't owe you a thing. I don't know you a penny. Get back to work work or hit. The bricks see that's the way a lot of entrepreneurs respond and why wouldn't they considering the struggle that they had to go through considering the risk that they took and to now have somebody knocking on their door and saying you don't respect us. We built this company. We wouldn't be possible without us and we want more lotta. People respond by saying screw you get out while that may be justified. The smart entrepreneur sits down and says for the last ten fifteen fifteen years. I've been focused exclusively on making sure that i could that. I could make this work now now. I don't know these people a piece of my company. But is there something i have been neglecting. Have i neglected them in a way. Is there something more that i could could be doing for them to show them how much i appreciate them to make sure that they're not walking out on me. Go work for another company that pays the more or or offers them more time off or just simply respects them more because that hasn't been a huge priority for me and maybe it should be see this march at least sits down and says listen i. I understand and i may bear some responsibility for you feeling this way. <hes> here's what i can do for you. Here's what i'm willing to do. Here's what i think is fair and just and it can be anything from more or pay to more time off to greater appreciation and and celebrating workers who do a good job and who are supporting the company <hes> <hes> it can be anything but you see. The employees are not wrong. See the entrepreneur would not have been able to build that company without the employees and the employees would never had the job if it wasn't for the entrepreneur see. There's a relationship there. You need each other but the person who takes the most risk is the one who makes the most money. The person who takes the most risk also tends to be the one who owns the most. I <hes> most means of production right so if i take on all the risk i have the ownership and so in the end. I'm going to be the one who has the most amount of wealth now. There's a lesson to be learned here but the point i'm trying to make to you is that it requires ars both of you. It requires both of you to understand that you have a value to the company and that if you're an employee. You're lucky that you have the job. You're lucky that you're being paid and if you feel like you're not respected but you love what you do and you love where you work then talk. Talk to your employer about it. If you think that you're being mistreated and that you can get more money somewhere else and somebody else will treat you better than leave and go find that job but understand that you are replaceable. There will be somebody else who will fill that role but see the visionary the guy who took on all the risk the guy who put it to go put the grand vision together very hard to replace him when he leaves you typically see the company move into a secondary phase of ownership. Hey i want you to think for a moment about apple and what happened with apple apple blew up under steve jobs. They got huge. They brought in a mark a a new <hes> a new bizet suite with the c._e._o. Sheep marketing officer and they ended up running jobs out of town. They they ran him out of his own company and when he left the vision left with him he started a company called next and bottle company called pixar and a few years later apple was in such dire straits. They had to borrow millions of dollars from microsoft c._e._o..
"jamie dimon" Discussed on The Jason Stapleton Program
"If you're wondering why my voice this is really horse tonight or today. It's because we went to the galaxy game the other night and <hes> amy and i got to taste a white cloth the first time and not impressed no no now now why not you didn't like it. I i drink a lot of seltzer pellegrino and to me. It's like cherry flavored pellegrino. So what are you laughing about. Amy's just <hes> expressing her displeasure with here with your opinions with my opinion. That's an n._s._f. W in say for work oh okay all right. Well there. You go jason to boomer folks not boomer majia. I am a gen xer which is slowly becoming old in america today. I don't feel old but apparently you know according to a lot of people people. I am getting older. Even millennials aren't the kids anymore. They're not now. We've got this thing called gen z. but actually an did to put a serious <hes> tone on this. I actually i have a theory about the way the generations work and it has to do with technology advancements and i haven't been able to make a straight correlation with yet but i know that the distance beat the gaps between generations is getting much much narrower so if you were born in nineteen ninety-five your you had a very different experience growing up than someone born in two thousand and then someone born born in two thousand at a very different experience than someone who was born in two thousand two because of nine eleven like each of those things change because it's really not about age as much as it is about era yeah right yeah you grew up and that's now changing it at such a quick a much quicker pace than it used to and so yeah. What does this walmart nation thing that you put in here. Lar largest private employer in twenty one states wow really so walmart yeah walmart the largest private employer in twenty one states but the even more insane things that in the rest of the states five of them is a different company like for example colorado is denver international airport las vegas. I m g._m. Resorts international washington boeing those ones make sense but for the rest of the states that aren't one of those aren't walmart or another company. It's sixteen are a healthcare healthcare. Organization in aid is an educational organization like a university like in california. University of california is the largest private employer that that there is is. There's no way that the of that university system in the healthcare system should be that bloated that should be that massive yeah that's because you have federal grant monies and all kinds of subsidies and stuff that are pumped into these organizations. They've got tons and tons of people who are earning salaries who shouldn't be who just aren't necessary and so. That's really the thing i wanted. What i want to talk about today. <hes> has to do with the relationship between the employer and the employee <hes> this came. I got the idea from c._n._b._c. Article that came out and says the ceos of nearly two hundred companies say shareholder value is no longer the main objective active. It's kind of funny because they're not really saying anything different than they used to say. They're saying in a different way so they're putting much more <hes> <hes> a much better p._r. Spin on the concept of a we're gonna we're gonna focus. We're not going to focus exclusively on shareholder value as though that's really what they they were doing before but i'll read a little bit from the article and then we'll talk <hes> it says the business roundtable group of chief executive officers from major u._s. Corporations issued a statement statement monday with a new definition of purpose of a corporation the reimagined idea. I love this morons. Drop drop the old age notion that corporations function first and foremost to serve the shareholders and maximize profits quote while each of our individual companies serves serves its own private <hes> serves its own corporate purpose we shall we share a fundamental commitment to all of our shareholders <hes> which signed by u._n._c._r._o.'s we commit to deliver value to all of them for the future success of our companies our communities.
"jamie dimon" Discussed on The Jason Stapleton Program
"I was running a company company working fourteen hours a day and learning about how to make film just so that when i created one of these videos that i would understand understand the value of the imagery and how to position myself and i would know hey don't walk from right to left walk from left to right because that's one of the little things that they teach you in film that since most people read from left to right when you pan from right to left it makes people somewhat uncomfortable. It's it's a small small thing. It's a little thing but it's enough of a thing that filmmakers will use it to create some extra intensity in a scene that it didn't exist before well if you're doing a video and trying to sell people on you and trying to make people comfortable with you. The last thing you want to do is have you panned walking from right to left because all however subtle however subconscious that discomfort is it will be there so learning the stuff really helped me to understand a little bit more about psychology about human behavior and about how we how the image the images that we use and what we portray is is far more important than the words that are coming out of my mouth and this is a perfect example of that but anyway. That's not exactly what i wanted to talk about today but we were talking about in the pre. Show what i do want to let you guys know about is if you live in or around the l. a. area and you are interested in in meeting me for <hes> drinks and meeting a lot of other net. <hes> entrepreneurs and professionals in los angeles on next saturday at what we decide seven next saturday at seven p e._m. Network now l. a. dot com. That's the website network now l._a. Dot com..
JP Morgan, Jamie Dimon And CEO discussed on Marketplace
"A hundred and eighty one of the top CEOs in the country have a great now that maximizing profits in all situations cannot necessarily be the main goal of corporations statement signed by almost two hundred CEOs including JP Morgan's Jamie Dimon this company should focus on all stakeholders for as long as I covered the world of business every CEO in America said they had a fiduciary duty shareholders everything was in the name of profits so after decades of explicitly saying the shareholders were the highest end of a corporation they point out the corporations duties to their customers to
Trump, Jamie Dimon And President discussed on Bloomberg Businessweek
"There was word today by the way the president trump held a conference call Wednesday amid the plunge in the stock market with three of wall street's top executives Moynahan Jamie Dimon the JPMorgan chase and Michael core about of city group people familiar with the matter say the executives briefed the president who was at his resort in Bedminster New
Can Bitcoin's Recent Rally Last?
"When bitcoin went I one above ten thousand back, then it was November of two thousand seventeen it then only took eighteen days where it's double again and nearly hit twenty thousand before it all came crashing down. So the thinking here according to people that I've. Talked to within the market is that there's a lot less hype right now around the market than there was back then, but there's almost there's more hope that there are signs that the market is maturing bid and the reason why is that you're seeing a lot of established companies come into this space. We already talked about Facebook JP Morgan, one of the biggest banks out. There is developing a GPS coin. And that comes even as its CEO, Jamie Dimon has been very critical of cryptocurrencies fidelity is another company. That's also getting in the space they've developed a custody service to store, bitcoin. And then, of course, you have a lot of other trading platforms like E trade, and Robin Hood, which are offering crypto trading to two people. So the idea is that perhaps the market is more mature now than it was two years ago. Does that mean that this rally sustainable, of course, we'll have to wait and see on that?
Jamie Dimon and other CEOs sound alarm over trade uncertainty
"There is a certain amount of public service journalism to be done on the American economy as we come up on the halfway, Mark of two thousand nineteen the headline numbers are good consumers are confident and yet and by yet, I mean, trade because everybody from fed chair, Jay Powell JP Morgan CO, Jamie diamond to the farmers and ranchers and business people we talked to on this program. They say we don't know we just don't know what's going to happen, big picture. So with the acknowledgement that we cover a lot of trade news on this program, which we know it can be hard to keep track of which tariffs are on which ones are coming up in which ones we thought were about to happen, but just kidding with all of that is, backdrop the word you're looking for here is uncertainty business. Roundtable chairman Jamie diamond the aforementioned CEO of J, P, Morgan said yesterday, quote uncertainty about US trade policy is one of the reasons why the group's economic. Forecast was fine. So let us now take a step back from what is happening in trade and look at how not knowing what's happening in trade is showing up in the economy. Marketplace's Kimberly Adams has that one for big companies, there's confusion over how to keep global supply chains running can decide here as vice president at trade services company Livingston international. I've been in the industry thirty seven years, and I've never seen the last two years as it has been just so many unknowns. She says many companies have multiple just in case plans, identifying some of the risk in order to really safeguard their supply chain and curb any potential disruption. Small businesses can struggle even more Kimberly Elliott at the center for global development, points out many have to place orders far in advance to they place it in China? Or do they try and find a different supplier because they don't know what the price is going to be in for a small business. That's really a serious problem for consumers tariffs are already showing up in higher prices for things like washing machines. And with more tariffs may be coming. Some people are strategizing, for instance, our cars, getting rather old, and we need to replace it, Catherine Russ admits her job as a trade, a communist at the university of California Davis, maybe shaping her perspective. But when it comes to possible future tariffs, I don't think I'm alone in thinking that at might actually have an impact on my budget, and that maybe I should speed up some purchases that puts the trade expert in the same boat as the rest of us were all pretty uncertain in Washington. I'm Kimberly Adams for marketplace.
United States, China And Goldman Sachs discussed on Bloomberg Daybreak: Europe
"Weakness the weakness being caused by ongoing concerns around trade tensions between the US and China, we have the Chinese delegation now on their way to the United States can they achieve over the next two days will the United States go through with this threat to put on these extra terrorists, and how will the Chinese we tell all of that very much front of mind. Full participants in markets with ASI minded testing to see that we all week on the oil prices. Well, so that trade tension stories he has to be outweighing concerns around supply in Venezuela and Iran and went down by more than one percents on brands and more than one percent on WTI. The yield on the US tenure two point four four percents. Is it a question of the yield just being too low to attract buyers? We saw very weak auction for you as ten years over in the United States in yesterday's session. The dollar is pretty much flat. And we talked many times about a lack of reaction in FX markets to the trade tensions. We did. See react. As I say to the geopolitical tensions just announced by Yonhap in the last half hour of money going into the yen where four cents stronger fully end against the US dollar one nine sixty seven is where we trade down there. But it is a day where we've got some outperformance in some individual stocks in their earnings reports map. But generally speaking, the story is one of concern around trade, it is for sure and to talk more about that. Let's bring in Lukic more from Aberdeen asset management out of Edinburgh. This morning. Sorry. Are we not doing kick-me overnight? Let me let me assist. I'm having a flashback to TV yet TV appearance. We joined in the studio by Bloomberg opinion, columnists, Marcus, Ashworth and markets live editor, Heather Burke. Thank you both for joining us. So President Trump saying overnight on his in what seems to be a campaign rally. It's nearly twenty twenty after all after all the China broke the deal am coming to you on this. I mean, how is the market positioning itself? What we're going to see or not see the next couple of days. If to know what is priced in is this going to be treated as sort of binary story by market that we get the tariff. So we don't get the tires, or is it going to be more complicated than that. Obviously, it'll be more complicated, depending what happens over the next twenty four to thirty six hours. But the clear takeaway is that markets are pricing. More risk. Chinese stocks have been declining European stocks declining futures declining the big story for equities this year, especially in the US and Europe has been this continuous rally amid low volatility and a lot of that was trade driven that there were was to be a deal and with volatility ratcheting up Goldman saying, listen, I probably terrorist. We'll come in the markets are increasingly pricing that there will be negative trait. Headlines that are pricing in and our position cells accordingly. It's interesting because Jamie, Dimon says eighty percent chance that a trade deal gets done. Goldman Sachs says don't count on it Marcus is this because I mean, Jamie diamond was yesterday. Goldman Sachs today. Relearning more that points towards the disintegration of trade deal. I'm not sure we can ready determine all the way. I it's literally up in the air. And I think that clearly the tactics the Chinese use have been seen before I think it shocked the Trump administration Hoover act. It's actually not immediately. They took a little while to react quite aggressively as playbook and the Chinese are still coming which is the good news. The question is what they come bearing gifts and go back by ski to the original text, which the Americans thought that that go pretty much squared away. And whether or not they can actually in the next two days coupled together something which is gonna make this deal. Fi. Obviously the whole rest of the world is on and really you. Look oil currencies and everything is is dependent on this. Even the US treasury option, which went badly was pats. Because perception that China hadn't turned up for it all these things the whole world is is interesting is because it does it is. It's a story. Well, obviously, it'll be a big story of China really didn't turn up to the to the ten year ocean. But it seems that he even the expectation that maybe they don't show is easy enough to put off his off is how this a look at the average the was pretty much a foreign buying which is putting looking at the right bias increase in the last few years you've seen a motoric buying options rather than. Straight through the data's additionally China leads that so all right buys. It was pretty much on average. But I just think it made people realize that this is any way that China compacts can fight back east by buying treasury bonds, even that self home because of the much them nonetheless. There is always that fear that the the foreign ownership. Treasuries has been steadily fooling it'd be much more reliant on domestic buying but yields have dropped significantly. They were you know, year ago or so in the sort of three hundred seven we'll hit comes through a half a now with that load two and a half percent ten year. There isn't this isn't a bog down here that full ever going to get a bit of a boss right now the cover was over two times. Let's not get too excited about it. But it was the worst metrics for ten years the ten year old AMI the today. So it's just a
"jamie dimon" Discussed on Boss Files with Poppy Harlow
"Let's talk about the state of the economy. How confident are you right now that this? You know bull Ron can continue to if it's three more months here. We're going to be at a record. It looks pretty good. If you look at the underlying data, we're still going to percent, plus consumer confidence still quite high and business confidence. You know, Catholic Spanish you're still going up is by what you read about household formations slow people going back to the world workforce. So there's nothing there's nothing in the numbers that you have to have a problem. And of course, you can make a long list of these problems, which may disrupt this one day, and that and that may be twenty twenty eight twenty twenty one twenty twenty two, and it may not be one thing may just be a confidence. The fact isn't events that you know, the proverbial straw on the camel's back that looking back. That's what did it keeps you up at night on that front. You know, I I I think for the country's cyber critical issue, not economically. Just this is at the forefront. But I think just bad policy. They don't fix if you asked me that which what's going to hurt our country in the long run is we don't take infrastructure. We put a man on the moon in eight years after president Kennedy said let's put him in the moon. Now, I'm told on average to rebuild a growth. And bridge. It takes ten years to the permits. I I go to China. They say it takes two years, the China and the Americas the Stott with bureaucracy. What happened the good old American can do? Gonna drive us into a recession. I mean, what's your what's your? I should it could be accomplished with. It may not be one thing or traditional recessions and driven by disco tightening monetary titan, huge imbalanced around the world, very rarely buy geopolitics. Consumer confidence is a secret sauce. So things that hurt confidence portrayed. We all want to resolve trade. They're serious issues around trade, we want the issues. Seriously, look that and resolve on the other hand, you a trade. I I look at we've had trade skirmishes trade war. Yeah. You every time you see that night into badly. You see the effect in the marketplace..
"jamie dimon" Discussed on Amanpour
"This was an argument you couldn't you couldn't worry too much about finesse because things were really on the edge. But more could have been done. I'm Jamie Dimon. I'm curious. As to your reaction to that. But particularly I want to just ask you because you have been quoted as saying that I I you recognize that people were hurt by the recession and angry with banks for engaging in the risky mortgage lending practices that triggered that recession. I mean, what do you feel about it now, and do you still understand people's feelings? And I guess what can you do about it? So we had a great recession. And I think it's fair that people look at us because it it wasn't my fault in generally look at Wall Street and government, and maybe some because I think that showy accurate, I think people have the right to be angry because it was it was terrible. Having said that you gotta look at what do you want to do to fix the problems? And you need a healthy J boy did not need government help by the way. But you need a healthy banking system to finance the economy. And so I listened to Paul Krugman is possible that I think if people broke the law, this should go to jail, and honestly, so I I would just take one the table, but you need a healthy banking system. Now, I like to be looking forward. What is it? We need to do to have things. Get better. I understand the anger from the past. I understand what is that isn't a solution. The solution is jobs skills. Affordable housing giving films a path to work, you know, reduce the opioid crisis education, the very young to apprenticeship though, the things would actually will fix the problem. And so now, we tried in the great recession support everybody, you know, we'd bought Bear Stearns could government asked we help unwind great risk to our selves poor Lima rose after their failure report, we wa- move like literally ten days after after Leeman. And so we try to always lend. We forgave. If I remember correctly, close to all in coastal hundred billion dollars of interest payments mortgages, we can talk to companies they'll tell you end up in for Jay, we wouldn't survive..
The Probability Of A US Recession
"Other issues out there that that are causing concern sometimes legitimately Brexit Italy. Roberto the global versa, QE potential trade skirmishes and wars that affect conference stuff like that. So there will be another recession. It doesn't mean it has to be early in two thousand nine hundred and may very well be twenty twenty or twenty twenty one. And and obviously got to be prepared for that. Obviously, you hopefully, the policy makers will when that happened to a a ways of at least damaging to to the economy. Can I ask you again because you know, you? Aknowledge that that a lot of people were angry about the financial crash. A lot of people paint pointed fingers at Wall Street and another people felt that that was not accountability. And they still have not fully recovered from the great recession. So I just wanna play a little bit of a sound bite from an interview I did with Paul Krugman on this issue last month. And then I wanna get your your view of it. It was necessary to rescue the financial system. It's not clear that it was necessary to rescue the bankers and the way it was structured was one that did not we didn't. We certainly didn't prosecute any. And there were certainly people who could have been prosecuted, but we also didn't make sure that the upside of the rescue is going to go to tax.
Talk of entitlement reform takes over as midterms near
"There were not politically, correct. But they've done what needed to be done in order to unleash the animal spirits. Alan greenspan's. Alan Greenspan, Stephanie. It's pretty tough to argue with him. Are you sure he said he loves the Trump tax cuts or you gotta sit there constructive. Now. He loved he loved it. They were politically incorrect. Now, what he doesn't love is that we haven't done entitlement reform to accompany them. I wanna you know, it's coming to that. But he loves the Trump tax cuts one of the things about entitlement reform that we need is it surprises me the young people. Don't get more engaged on the entitlement reform ya you know, they sort of latch onto issues that are very very popular in the news. Entitlement reform or something I think people should really care about. Listen, the issue with the tax cut is it's a clear positive for corporate America. The tax code as it was far too complicated. But the amount of taxes that they cut you could ask Jamie Dimon. He will say, listen, I'm glad we got the tax cut. We didn't need it to be as much as it is because we are facing a massive deficit, and as far as the tax cut goes we're seeing corporations do so well two weeks ago. I the business council summit there hasn't been a hundred fortune five hundred there tickled pink, and they're saying they're spending there investing hiring and even without the tax cuts. Deregulation has been a huge positive for corporate America because remember in the Obama administration. It was not a pro business administration. And even if companies weren't faced with new taxes, the threat of regulations of threat more could be coming down the pike was preventing companies from spending. You're definitely seeing corporate America in a very good place book at the stock market one of the reasons the stock market is doing so. Well, suddenly. Corporations have twice as much cash on the books. So it is a positive obviously have a very tight labor market time to see wages push up more than they have this far. So Stephanie role year in the second bluest bubble in America. I always think that silicon valley's a bluer bubble the Manhattan, but I just had Marsha Blackburn on she's had a nineteen point swing in her direction over two weeks, Heidi Heitkamp has fallen apart. And she did a pratfall releasing the name of abuse survivors against their will yesterday that is blowing up. You've got mic. Sally surging ahead of cinema. Do you sense that the blue tide is a thing of the past? And that in fact, we're looking at it read time, I've talked about this a lot. I've never seen a massive Blue Wave coming thing that distresses me isn't are we going massive, bluer massive read the thing that distresses me is the hollowing out of the center on both sides. That is what I think is the most concerning and I think we're seeing it in both parties. Did you read David Brooks piece yesterday about the eight percent on the left? China today. Oh, are you really? Because that is that's the most interesting thing. But the noise comes from those two groups, that's the note, and by the way, our cable channels both left and right that noise. I don't know how we're ever going to break out of this you you are one hundred percent, correct. On a us. An example for you on Monday when I woke up I wasn't on TV. I heard what not the media thought of what Hillary Clinton said on Monday on Sunday about her husband, and Monica Lewinsky. Okay, saying it was not an abusive power. So I said via Twitter take something clear what the president of the United States has a sexual encounter with an intern. It doesn't matter how she behaved, blah, blah, blah. That's an abusive pallet. I'm not saying I'm not saying it's a soft. It is an abuse of power. When I tell you, Hugh, I got a nihil lead on Twitter, and I should hold on a second. Because of course, I've wanted what about Trump what about companies both things can be true abuse. Power is not unique to one industry wants sport, one one nation or one political party. But the tribalism we are seeing the absolute forgiveness of one side and an assault of another. Stop. It's unreasonable. It is going to be very difficult to break away from the profit motive of super serving the six in the eight percent. But I'm glad you're doing the David. That's what that's why I watched up and he going do the David Brooks. Brooks column is the smartest thing I've read in ages. Hey, man payments. Definitely real good to talk to you s rule on Twitter American, of course on MSNBC. Don't go anywhere. I'm coming right back America time to keep talking about these midterms. The red tide is coming everything
"jamie dimon" Discussed on 760 KFMB Radio
"To chase has always let's talk about from this past week. And we do a lot of posting on our Facebook page and Lincoln and so forth Facebook, very smart investing. Well, it's a smart investment Brenton. Chase a we'll seating spa is there, but some things with tariffs. So we had a lot of different things as pathways. Yeah. Of course. I mean, there's you know in the market hasn't really reacted to it. Because I think the markets realizing we have a very shrine Konami here. You know, the market's doing quite well, actually what we're looking at is. You know, President Trump imposed ten percent tariff on two hundred billion dollars worth of goods from China and respect Jamie Dimon a lot as a CEO J P Morgan. Don't always liked. It got involved a little bit with saying. Here's Trump that was kind of interesting. But what he brought up which was a great point was he saying, okay? So let's take a look at the big picture here. Two hundred billion dollars worth of tears. Oh my gosh. He said big ten percent of that twenty billion dollars. What does the US economy twenty trillion dollars? She'll look at twenty billion dollars versus twenty trillion dollars. I mean, it's just not going to have a material impact on us as consumers. Yeah. It's gonna hurt. You know, price of a shirt Michael up a dollar. Oh my gosh. President showing up fifty cents. However, some might make take advantage of it embrace it to a dollar. Yeah. They could take advantage of Bill c we're raising prices because the tariffs like your profit margin. Probably went up. Fifty cents fifty cents for me. So, but yeah, and it's something that, you know, the media likes to blow things out of proportion and do it. We try to bring it back down to reality. Again, twenty billion versus was trillion trillion dollar economy. It is immaterial. So it's like when you go to the store, and you got a few pennies in your pocket. I mean, that's really a good comparison because it's not worth that. You know? So, but again, it makes the media, but the markets and the economy had just ignored the whole trade talks as we call them, not trade wars. I did see Jimmy diamond had a thing for trade wars either. He called him something different. See that trace Vermeersch skirmish. Yeah. That's what it was. Yeah. Yeah. So, but yeah. And then also to so that many consumers are losing their purse strings upon this upcoming holiday shopping season. I think you've got some numbers out to you said. Yeah. I mean, it looks pretty good about a quarter. I believe of people that were surveyed forget the name of the survey company that did this. About a quarter of the people that are serving there said they're going to spend more this holiday season, a majority of people they said they're going to spend about the same as last year. Surprising, actually, the millennial group. And we talk about the morning. They were actually a big group of people. I am going to say almost thirty percent. So they were going to spend more than they did last holiday season. So millennials must be making more money feeling pretty good about this economy in a lot of them. Don't like Trump. Enough there. But hey, you know, we're not political talk show. It's kind of funny to look at that again. They don't realize. Okay. Well, the comedies better. I don't like Trump but economies better. So I'm just going to go out and spend. So that that's good. Whether you like them or not Connie's better. Shoot. I just had a thought I I lost it there. Oh the holiday season. I've there's nothing to here numbers coming out..
Robert Muller, President Trump and Jamie Dimon discussed on Bloomberg Daybreak: Asia
"Dad. The Red Sox magic number to clinch the AL east title is down to two after Boston beat the Mets four three in the Yankees lost to the Blue Jays three to nationals beat the Braves six four and the rubber game of their series. The Orioles doubled up the White Sox. Eight four Rockies beat the giants. Three two in the raise edge the as. Is five
Jamie Dimon says Trump should take some credit for the strong economy
"Which began with the collapse of Leman brothers, ten years ago this weekend. Now a decade later could a Wall Street executive diamond be the next businessman to make a run for the White House. Are Rebecca Jarvis caught up with him this week in New York. Why not throw your hat in the ring, Jamie. I said as before Trump was elected now you're not gonna get a wealth and yorker elected president. Boy, he's dead well. By the way this well, wealthy New Yorker actually earned his money. Wasn't a. It wasn't a gift from daddy p. Morgan CEO, Jamie diamond taking aim at the president saying he could beat Donald
San Diego, Nato and President discussed on Politics, Policy, Power and Law
"Firm told investors the japanese conglomerate is trading at a steep discount to its net asset value tiger global which oversees about twenty two billion dollars was founded by chase coleman in two thousand one coleman formerly worked at jillian robertson's hedge fund tiger management j p morgan ceo is warning of catastrophic events bloomberg's gina cervetti has more newspaper reports that jamie dimon has warned italy's populist government against pulling out of the euro zone diamond said italy's exit would endanger the structure instability of the european monetary union is comments come as italy's coalition government made up of the lega nord in five star movement has repeatedly mentioned leaving italy is one of the three most crucial members in the project alongside france and germany separately diamond also commented on brexit saying its impact on growth could turn out to be tough for britain's and the world gina cervetti bloomberg radio us inflation at the wholesale level speed it up last month in the twelve months ending in june the producer price index rose three point four percent that's the most since two thousand eleven the higher cost of services was a big factor tomorrow the government comes out with consumer inflation numbers one gulf stayed beefs up its defense spending after being alienated bloomberg's ed corry has details got to be looking for a four billion dollar loan to buy fighter jets bloomberg is learned the government is working on a deal that will be backed by export credit agencies the country is boosting defense spending after being shunned by neighbors saudi arabia bahrain egypt and the united arab emirates the four severed diplomatic and economic ties in june of two thousand seventeen accusing the country of links to iran in funding terrorism last december ordered twenty four typhoon jets in a deal worth six and a half billion dollars the country also has orders pending for some seventy two aircraft from other manufacturers including boeing has denied allegations by the saudi led boycott ed corry bloomberg radio say goodbye to the ford fusion as you know it bloomberg has learned that ford is killing the slow selling sedan instead it will put the fusion name on a sport wagon it's developing to take on subaru's popular outback the fusion sedan will probably exit early next decade only the mustang pony car will remain in force us lineup coming up the latest out of brussels and president trump's nato meetings i'm pat carroll this is bloomberg time is running out only three northern white rhinos left in the world together we can turn things around you all support to the san diego zoo global wildlife conservancy helps support groundbreaking solutions like out frozen zoo which stores the.
"jamie dimon" Discussed on WAFS Biz 1190
"Prices have gone up dramatically as well that might be some reason or it might just be a lack of consumer spending or the lack of discretionary income jamie dimon says j p morgan which i would agree with having agreed with him in a while but jamie dimon says he thinks we're going to see a four percent bond yields in the nottoodistant future i would agree with that i think that's almost inevitable i also don't think it's the end of the world i don't think he does either but it's not that big of a deal but it is going to hurt some corporate growth because expenses are gonna go up those corporations that don't have dead are gonna do very very well those corporations that have a lot of debt they're going to be a little bit of trouble now not all corporate debt is tied to prime rates and to the ten year and aren't floating i guess there are some that are that have been able some corporations large corporations that can negotiate very good deals on their day here's the problem small all business just as not had the negotiating clout to be able to negotiate those deals and the vast majority of small businesses are tied to bond yields whether they like it or not they have a little choice because they're not in the positions of billions and billion dollars ten billion dollar companies that can negotiate terms they can't do that so as rates go up it is definitely going to hurt some corporate growth small company growth that ought to be of some concern so we've got that too we've got to worry about to be concerned about so there are couple of things that are happening that that's happening it looks like oil prices right now are falling back a little bit gold looks like a.
"jamie dimon" Discussed on WWL
"I was looking at jamie dimon yesterday on tv who is the ceo of a think it's chase bank j p i don't know it's why j p morgan chase that's what or jc penney i get them confused not the point look he looked to me like he and archbishop amen could be cousins or even brothers so if you have ever been told that you look like somebody or you notice to people that are not related like the jamie diamond guy and archbishop behmen that looked like they could be related i'd like to hear from you because sometimes i notice these things and people look at what i'm talking about and they go no now look at the ice look book you can see back in the days i people would say i looked like john ritter from three's company but that was when again i had some hair and again for those of you that are texting in when did bald become a bad thing i don't understand that it's very convenient there's there's no shampooing no conditioning no hair drying no waving no gelling none of that it's very easy to wipe it and go some of the texts that are coming in people picking a net about i said it was a year and a quarter when in fact it was a year and a half rather when in fact it was a year and a quarter but if you go january february february march march april okay a year and a quarter instead of a year and a half thanks for that correction bandwagon fans is with somebody text in about the pelicans but you can't look at it that way i understand that but they.