35 Burst results for "The Journal"
Sen. Ron Johnson on Democrats' Obsession to Control the Narrative on Groundbreaking Medication
"The side of these sometimes super expensive treatments we've invented recently in lieu of very cheap treatments I ever met in a hydroxychloroquine. And yet I see this article in The Wall Street Journal today that the left is objecting to this new Alzheimer's drug out of helm because it's if I I hope I'm saying that right because it's too expensive. So what is it in one hand, do you like to really expensive stuff for the treatment of coronavirus? Maybe because Trump recommended the others, and on the other hand, you have a drug that could benefit patients with Alzheimer's, and they're like, no, no. Well, we don't want that. That's no good. I mean, are you do you get this from a different angle up on the hill? Or am I just stupid? What am I missing here? Well, First of all, when we do know about both Hydroxychloroquine IRA medicine is they are incredibly safe drugs that have been prescribed for decades in the billions of doses with a very low rate of adverse effects. And so my point is, I've been so why not give him a shot Your current today current Nice guideline. And Kobe this do nothing. Go home. Isolate yourself. Be afraid and hope you don't get so sick that we have to mention the hospital where your cancers are reduced that violates every basic candidate of medicine. Words. You're Diagnosed early treat early. You can have a much better outcome that we've completely turn turn medicine his head as it relates to Covid. Why is it Because people like Fauci Collins governors want the control? Is that what's going on here? I mean again. It makes no sense to me and you know, like you did. I can't even begin to getting ahead of a Democrat. Liberal Progressive. I mean, they make no sense whatsoever. Yeah. I mean, it just seems like I mean, it's almost one of these.
Wall Street Journal Article Explains Why 'Free Money Can Make Life Worse'
"Of the workforce, pay him to never work again. And by the way, you may be thinking to yourself. Oh, yeah. This free money stuff. This works really well. It's compassionate. I mean, we're giving people money they needed. No, they need a job and you need to tell them they need a job. That's real compassion. Here's an article in The Wall Street Journal. Be my newsletter today. I need you to read. It's important. It's by Robert Door who worked in New York City during the welfare reform years. Rudy Giuliani and Bill Clinton, who worked with Newt Gingrich to put conditions on people working. He said. If you are going to get taxpayer money from people who are working, then you need to be looking for a job. If you're addicted to drugs, you need to see treatment. You're in a fatherless home. You need to try to find you need to do your best to find the father. The father should be paying too. And liberals will tell you all that was really that was horrible. There was so evil it was so not compassionate. How dare you pay people Excuse me take away money from people who are not working. Well, what happened when they did that Well hears from a guy who lived here is the top of the peace free money can make life worse. Robert Door, Wall Street Journal today. He talks about after they implemented welfare reform and made people look for jobs. What happened, folks? Well, outcomes approved across nearly every measure of child well being. Child hunger dropped education, improved health outcomes have gotten progressively better and properly measured. Child poverty fell almost 8% points in the subsequent decades. Why? Because parents went back to work. They got careers, many of them they taught that example to their kids. Their kids want to work. How do you explain a story like my mother in law came here with nothing? Came here with zero in her wallet didn't even speak the English language from the great country of Colombia came over here. Created three
WSJ Columnist Jason Riley Explains That U.S. Produces Crap Schools, Often in Democrat-Run Schools
"He warned us decades ago. If you are going to create generational poverty, you have to make it really hard for low skilled workers to get a job. If you can't learn skills, you're never going to get a job. If you don't have a job, you can't learn skills. It's kind of a circular loop of poverty. If you have no education. Because you've been subjected to a terrible public school. You know, I said this morning on my podcast. We are really great at productivity of producing one thing sadly in the United States, and that's crap public schools. We have been excellent at it, and it's something we shouldn't be good at. We produce more crap public schools than just about any other o E. C D country. You know, I read an op ed piece by Jason Riley in the Wall Street Journal awhile ago years ago. And I'm pretty sure the data here's accurate still, that there are 20,000 public schools or public high schools in the country. Just 2000 of them are responsible for producing half the dropout. If you're black, you have a 50% chance of sending your kid to one of those schools. Think about that for a minute. 50% chance of sending your kid to one of these dropout factories. If you happen to be black and American, we accept that. Why? Why do we do that? Why do we accept that Because Democrats are on those cities. And they're compassionate. How compassionate is that teaching kids how to fail. And then when they failed, not letting them get a job because you said, a minimum wage so high they don't have the requisite skills that they can produce that kind of value for a company. So they never get a job because, as it's been set off in the real minimum wage is 00. That's nothing because you don't have a job. Third part of the stool, of course, is welfare. You have to pay people not to work because our new motto is Get your ass to work. The Democrats model. His work is
Peter Wood and Other Historians Critique 1619 Project for Being Ideology-Based Over Evidence-Based
"Well in his book, and you remember, I interviewed Peter would President the National Association of Scholars Life, liberty and live in His book called 16 28 critical response to the 16 19 project. Says the larger aim of the 16 19 project is to change America's understanding of itself. 16 19 Project alliance with the views of those on the progressive left to hate America and would like to transform it radically into a different kind of a nation. Such a transformation would be a terrible mistake. It would endanger our hard won liberty or self government and our virtues as a people. Said the 16 19 project has taken ideas that a few years ago were exclusively fringe. A good way into the realm of mainstream opinion. The idea, for example, that the American Revolution was a pro slavery event once circulated only among conspiracy minded activists. Comic book style theories of history. The 16 19 project has brought it from the playground into the classroom, to the consternation of serious historians everywhere. And he condemned the 16 19 project is phony scholarship. He says it's critical race theory dressed up as history. The usual way for disputes about history. To be resolved, he said, is for historians to present their best arguments and their sources and journal articles each side can can then examine the evidence for themselves and hammer out the truth. But the 16 19 project evades this kind of transparency. Hannah Jones, who make some of the most audacious claims sites, no sources at all. The project, as presented originally in The New York Times Magazine can change no footnotes. No bibliography or other scholarly footholds. In December. 2019 The New York Times Magazine, five exemplary historians. A quote expressed strong reservations about important aspects of the 16 19
Arizona State Rep. Jake Hoffman on the Political Gaming Against a Flat Tax
"Can we say that, too? I'm not sure the list of things we can't say maybe growing long, but I like that. I just did again. Producer Jim Jake. I like that about your an actual conservative. So this morning, I'm in the you know the home gym doing the little workout thing. It's Monday morning, getting ready for the show. I read this story in The Wall Street Journal. You are a state rep in Arizona and it's you know, still kind of a red state. We would think, right And I read this story about how some republicans Yeah, well, yeah, I used to go in a little blue, which I don't like how some State House Republicans in state senators in Arizona are getting in the way of a bill sponsored by, uh, you all in the statehouse. Implement a flat tax in Arizona to make them a little bit more competitive. Is that true? Or the Republicans getting in the way this because if it is, I'd be really ticked off. And it is true and it's you know, just like Americans. Arizonans are furious about the political games in D. C. This is the exact same situation we're experiencing, and it needs to serve as a wake up call for all Americans that our state legislatures, they matter. Here's the bottom line. Arizona is sitting on record revenues despite coming off the heels of Covid. Now having a multi billion dollar surplus isn't something to celebrate. It means we're overtaxing our citizens. Give them their money back. It's their money. It's not the government's and you know, you figure on the heels on the heels of covid, right? I mean, this is the worst economic disruption or one of the worst in the last 120 years. People are hurting. We've still got nearly 8% unemployment, small businesses got crushed real wage growth under the Biden administrations abhorrent policies. It's stagnant and I could go on man. But it's our job as America. First Republicans, you know, that's one of the biggest things that President Trump did other than his judicial nominations was reshaped the Republican mindset. We're the party of the people were the America first. Party, and so we have to put the people we represent first and give them their darn money back. It's exactly
After a Year Stuck Indoors, Visitors Are Overcrowding National Parks
"With people trying to enjoy outdoor activities. Arches National Park in Utah. They reach capacity and close the gates. The visitors most days before nine a.m. or more on how everywhere is packed Right now, we'll speak to Alison Poli reporter at The Wall Street Journal. Some of the most popular national parks are expecting record crowds the summer and these are parks that have already seen a lot of visitation. So some of these parks were closed last spring, and then when they reopened last summer, people flock to them because they were able to be outside, they are able to social distance and enjoy the outdoors. And visitation numbers have only increased since then. So at arches National Park, for example, the gates to the park do temporarily closed when the parking lots become full and most days that happens before nine a.m., and they will open back up anywhere from 2 to 5 hours later, But in some cases, people have still seeing lines when they go back and later in the day to try to enter the park. And the demand is there this April, people going to the park was up 15% from 2019. So this was before the pandemic, so people are wanting to get out there. One of the interesting things that happen with all of this, though, is some some of these unattended consequences. If they can't get into the main park, they'll go on to some other undeveloped land that's in the nearby area. They make these kind of campsites there. Fires have started trash. You know, it can become a big problem for the community around there as well. So a lot of people started camping during the pandemic, and so more people are camping on federal lands, and in some cases, the land that they're camping on isn't intended for tourism or overnight stays. So in some of those areas are seeing a lot more trash, even human waste, and it creates resource management issues for the local community. You know, it's kind of a catch 22 because the people in the nearby communities obviously want tourists and visitors to come by. It helps
Biden Purposely Set up Accounts to Avoid Medicare and Obamacare Taxes
"First birthing woman of the United States, actually birthing person in the United States and her dimwitted low EQ husband. They had their account and set up these two s corporations I've told you about before, and actually I learned about it from Christopher Jacobs, First in the Wall Street Journal, then on the Federalist. In order to avoid what in order to avoid paying Medicare and obamacare taxes. For two years at the height of their income. They didn't pay Medicare in obamacare taxes. Biden's families plan. Proposed using Some of the same money to pay for his new entitlement expansions that is Medicare money. And obamacare money, including expansion of obamacare subsidies, estimated to cost 163 billion over 10 years. That would siphon more than two thirds of the revenue that's supposed to be going towards Medicare, so he's going to bankrupt Medicare faster. But don't worry, we can always print He says. We've seen this gimmick before. Obamacare raided Medicare to the tune of 716 billion over a decade to pay for that laws, new entitlements by the way, the Supreme Court was happy without. Oh, sure, of course you can. Right there and constitution. Kathleen Sebelius than the secretary of Health and Human services infamously testified before Congress that there's 716 billion could both save Medicare while funding obamacare. Wow. Of course, that's Absolutely impossible. Only Washington politicians can claim with a straight face to spend the same money twice. Biden, who has spent the last half century in Washington wants to do just that. His budget takes a page out of the Obama play, but so now if you did this on your taxes You'll be going to prison. Now. If Donald Trump did this on his taxes, he be going to prison. Instead, Biden's doing it. On all of our taxes for the whole country, and he's being celebrated.
COVID: What is the Delta Variant?
"The latest virus variant to grab headlines is called delta. Why are scientists particularly concerned about it josh. Because it's more transmissible and it seems to be putting more people in the hospital. Tanya and it's on the rise all around the globe delta was first spotted in india and spread quickly to seventy four countries in england. It accounts for ninety percent of new cases taking over from the version called alpha. It's got a bunch of mutations. That seem to help it. Get inside human cells and vague. Antibodies that for it. Researchers at public health england found the chances of people passing delta around their households were sixty four percent higher than with alpha. That's a big jump. England had started opening up more recently to couldn't that have also led to more infections in addition to some feature of the variant itself. Yeah there's stuff going on that can heighten the delta numbers people started traveling and businesses and restaurants. Were opening. But the bottom line here is. There's a steep climb in delta cases and delta appears to send twice as many people to the hospital as alpha does. that's severe illness. Such as being unable to breathe. A lot of these people are younger. Underage thirty according to research in the medical journal. The lancet now this isn't all doom even with delta vaccines keep people safe health records in scotland. Show two shots of the pfizer. Vaccine blocked delta infection in eighty percent of people both the pfizer and astrazeneca. Vaccines kept practically everyone. Who got those shots out of the hospital. Early data from england show. So what's this all mean already in the us delta accounts for ten percent of infections. So it's coming. With summer reopenings and people mingling unvaccinated. People could get delta during the next few months setting up ugly fall getting vaccinated. The numbers show is the best route to keeping infections. Down and getting live closer to normal
Disappearing Object Phenomenon and the Works of Dr Tony Jinx
"I was looking at some of the work of dr tony jinx and if you recall He published that book disappearing object phenomenon. And as i was looking into some of his research. He's actually caught of said that he's moved away from it. He's of he's limits on on what he can do with that. But i was inspired by him because he started looking into an. I recall this with these book which we covered on the show. He started looking into more of the statistics. Off the probability that these things will take place at how you can kind of assess it that way and it's a little bit. It's not boring boring the wrong word but it's very mathematical and it's very it's intriguing but it doesn't kind of a scholarly work it's scuola it doesn't fit the hot chaff quarter that i have for this show but i was inspired by him and i went and checked out a journal that he's heavily associated with and that is the australian journal of parapsychology. And as i was going through it. I was really fascinated with all these side cases that it mentions that a kind of a really anew take on some really old phenomena that we've heard of the years of people experiencing crisis operations and that's you know you'll have this extraordinary knowing that a loved one is ill or a loved. One is endangered And then later on you'll get a telegram phone call that that person actually had been endangered and somehow you picking up on it. There's a lot of these emotional connections that seemed to play a role in these events. There's also as i said you know. Obviously disappearing object phenomenon comes up at anything that relates to some type of knowledge. That's conveyed through means that we don't understand okay. And so what else looking at some of the journal articles journal articles with fascinating because it was looking at some of these all cases that we hear off and then comparing them to modern reports and looking at people. Because you think will i. I probably this that a lot of the phenomenon is kind of dying off especially with things that relate to this kind of cross separations because in the past all of those stories that you hear. It's like well. You know. I had i work at the middle of the evening defined by wife. Steady their bleeding from the head. But i couldn't contact her. So i sent a telegram and she didn't responded or took three days for the telegram to come back the reason why they story stand out because first of all you got the telegram to ballot it. Yeah but secondly you don't have this. Instantaneous communication we can call up someone say you trouble or something like that's going on so i thought the phenomenon don off it's not at all it's just changing. It's being reported less but the actual experiences a nonetheless unsettling
Euan Ashley and Stephen Quake on the Genome Odyssey
"So. I want to start out by saying. I've read the book doctor. Actually that you wrote called the genome odyssey and it was such a fantastic reebok creek. And i kind of just talking about how great of a writer you are before we hopped on the call here and that really reads like a story so i just wanted to thank you for writing such an engaging book that really goes through just the history that we're gonna talk about between you and you're really special project but also just really cool cases that you've brought up and really honoring the patient perspective in patient advocacy so fantastic job with the block. I'm excited to get into part of it today. Well thanks so much cure really very kind of you to say you know. I really inspired by the kinds of scientific stories that Steve leads day out also by just the lives and the journeys of our patients. And so i hope to try. And tell those and we've the must say unexcited to the chat little bit more than with you today so little background for those that may be haven't read the book yet back in twenty ten. Dr ashley you led the team that carried out the first clinical interpretation of a human genome or at least one of the first and that genome was dr quakes. that come to be. How did you end up coming together. What was it about. Dr quakes genome. That this would be a good one to explore and dive into well. What wasn't planned. Actually i mean i. Basically we were meeting one day about something else. We know each other that well to be honest at the time and i was you know just just meeting trying to plan a little. I think it was and i waited. My way ryan stanford to try to get myself to steve's office and then find him in there surrounded by journals As as we see them actually. You're watching just just right there. I sat myself on one of those years in the back and we started talking seminar but before we really got to that. He's like hey come over at look at look at this on the screen on the screen. I saw one of these old. Html tables early website and a bunch of as ts recognize as ts cs and a bunch of gene names. And i'm like okay. That's genetic data. His and i'm like what is that and he's like well. That's my genome.
Supreme Court Rejects Third Challenge to ACA
"The supreme court has rejected another legal challenge to the affordable care act the signature. Healthcare law passed under the obama administration in a seven two decision. The court found that a case brought by texas and other republican leaning states lacked legal. Standing is the third time the court has considered the two thousand ten law and the third time that the aca has prevailed for more on. Today's decision i'm joined by wall street journal. Legal affairs reporter brent kendall. Hi brian thanks for being here. Thanks for having me so brent. Tell us more about the court's reasoning here. This is the third time. The court has had to wade into this area. I mean in some ways. This was the most unlikely of three cases. This was all setup because congress a couple of years ago there's a mandate in the law that most people buy insurance and there was a penalty associated with that if you didn't and so what congress did a couple years ago as part of a tax reform package zero out the penalty so now even if you don't have coverage and your technically supposed to. There's no monetary penalty for doing that. The complication is supreme court previously upheld the law and the idea that congress could use its taxing power as a justification for the mandate in the first place and so then republicans stepped in and said. Well there's no tax anymore you can't justify the law under the taxing power and so what the court said today as well. You don't really have any valid basis for making that argument because nobody is hurt by. The government charging us zero dollars for not carrying insurance. The end we don't say anything else in the case.
President Trump on Hannity Calls Biden More Radical Than Bernie Sanders
"Joe Biden right now, you know makes uh It makes Bernie Sanders look like an offshoot of Ronald Reagan. I mean, that's how left Joe Biden is gone. So President Trump rightly so. I was like, Hey, listen, if you voted for this guy, you got sucker sucker Sorry at Here's clip number two from Hannity last night, President Trump commenting on the leftward lurch to the Democrat Party. And by the way, I'm gonna show you again. The guy's not kidding. He's not exaggerated. We come back from this clip. I'll give you a story from the Wall Street Journal. That should have you frightened. You own a house house gone up in value. Well, you better not be a liberals. You'd be paying taxes on that suit. Check this out. They lied They You know they didn't talk to us. They never said this is a Bernie Sanders dream. What's happening right now? He can't believe it because this is far worse than Bernie was ever going to be. Bernie Sanders would have never even thought to suggest some of the things that are happening right now. We got the millionaires, the billionaires, and now he talks about the billionaires. We gotta stop those billionaires while Bernie You're a man. I know of a millionaire, but I'm talking about you idiots. Bernie said that isn't Bernie. Biggest fraud ever. Socialism? Always great for the top Socialists in charge. Everyone else gets screwed Pretty good. President Trump's not wrong. Joe Biden ran as a Scranton kids lunch bucket, Joe
Chinese Government Knew Early About Coronavirus Lab Leak
"Did they know, but they knew early. They knew early on that this was a potent, potentially deadly virus. Whether it escaped or was done deliberately. We don't know. But once it was out there, they did nothing to warn us. And it was here way before we thought it was What's more evidence clues. Give me another data point. Showing that they knew in China, the C G code, sick lab workers, SARS and MERS not being as able to infect human beings as coronavirus within your perfect ability to do it. Remember this story I discussed was a couple weeks ago. Wall Street Journal from May 23rd this year Intelligence on six staff at Wuhan Lab fuels debate on Covid 19 origin Folks our intelligence community knew to listen to this. Three Researchers from China's Wuhan Institute of Virology became sick enough in November of 2019 that they sought hospital care. According to a previously undisclosed U. S intelligence report. Chinese government knew Three researchers fell ill at the Wuhan lab. How do you explain that? So for the folks on the left in the media have been attacking John Stewart, the comedian who again there's no friend to the conservative movement at all, but they've been attacking him suggesting he's making up a conspiracy theory that this originated in Wuhan lab. You don't have evidence. No, you don't have evidence. You don't have evidence that this is natural. We have a bevy a body of evidence that this in fact was created in the lab. And created two perfectly infect human beings.
Rosetta Stone Eruption Could Help Explain Solar Explosions
"Dramatic molly staged eruption on the sun as revealed new clues. That could upside is solved. The long standing mystery of what causes the sun's powerful and unpredictable explosions a report in the astrophysical journal letters claims and covering this fundamental physics could hope scientists better predict the eruptions which caused dangerous base weather events on earth. The explosion contain components of three different types of solar eruptions that usually occurs separately making it the first time. Such an event been observed having all free eruption types together in the one event provides side with something of a soda of sola version of the resistor align them to translate what they know about each top of solar eruption in order to better understand the other types of eruptions in the process. Uncovering the underlying mechanism. Which could explain all types of solar eruptions. The study's lead author. Emily mason from this as god spaceflight. Centering greenbelt maryland. Says the vent drives home the point that these eruptions that caused by the same mechanism simply on different scales eruptions on the sun usually come they of three forms a colonel massey jackson or see me a jet or passion eruption colonel massey jackson's and jets a both explosive eruptions casting energy and particles in the space but they h. Look very different. Jets erupting is narrow columns of sola material while colonel massey jackson so say form huge bubbles that expand out pushed in sculpture by the sun's magnetic fields paschel eruptions on the other hand. Start erupting from the service but don't develop enough energy to leave the sun so most of the material force back down onto the solar surface this rosetta stone eruption occurred back on march the twelfth and thirteenth in two thousand sixteen it was observed by an ss solid dynamics observatory spacecraft as well as the joint nassar in european space agency solar and helius freak observatory spacecraft. Soho what. Scientists saw the ejection of a heart layer of sola material above magnetically active region on the sun's surface.
More Evidence Suggests COVID-19 Was in US by Christmas 2019
"A new study suggests that Kobe nineteen cases were in the United States weeks before health officials recognize them the first U. S. case a corona virus to be identified was a man from Washington state who returned from a trip to Wuhan China on January fifteenth a new study published in the journal clinical infectious diseases looked at blood samples from more than twenty four thousand people across the country collected in the first three months of twenty twenty the researchers found seven participants three from Illinois and one from Massachusetts Mississippi Pennsylvania and Wisconsin had evidence of coronavirus antibodies in their blood lead author Kerry all toft says one of the Illinois cases was affected as early as Christmas Eve some skepticism greeted the reports researchers said they use multiple types of test but some experts say can be difficult to distinguish between antibodies from different types of corona viruses the results do match a CDC study published in December of twenty twenty that suggests the corona viruses in the United States as early as December of twenty nineteen I'm Jennifer king
WSJ Piece Teaches How to Read the Truth in Chinese Propaganda
"With this fantastic piece in the Wall Street Journal showing you how to dig through propaganda. How the Communists How Communist Now the Chinese Communist Party, CCP, How the communist Soviet Union how they work and manipulating the media where there's always an element of truth in his story. You know what it make stuff up out of thin air. You may say, Dan why they're Communists. They do whatever they want. If you don't like it, they kill you. Yeah. But they can't kill everybody at the same time. I mean, seriously, they do have to have some people alive like that's the whole point of having a country. Right. So once in a while you got to feed him a nugget a truth. Little small sliver nugget of truth, and you just manipulate the story. So if you read the story upside down, and you learn to read these propaganda pieces upside down, you will get to the truth. Eventually, they gave a great example. You know, Chinese propaganda say, you know, brave Chinese Communist People's Liberation Army saves eight miners and mining accident Then you find out later the Chinese government caused the accident do faulty safety standards and 150 miners died. Only eight were saying you're like, Well, there was a small nugget of truth in there, but the rest of the story was total bull. You get the rest.
Reading the Story Upside Down, There Likely Were Bats Being Studied in the Wuhan Lab
"We've been lied to every step of the way from people involved and who have experienced with the funding that was used to fund the Wuhan lab that I believe could have could have created a bioweapon and I believe at a minimum, engaged in gain a function research and created the supercharged coronavirus. People involved in it have not told us the truth from the start. We have laid out a case over the course of the last two weeks. How This is the biggest scandal of our time that a foreign nuclear powered enemy the United States may have used our tax dollars to create a super virus that wiped out millions of people is bar none. The biggest story of our time. And we will never get to the truth because we haven't yet learned to read the media upside down. You have to learn to read these media stories upside down when you do that, like the author of This Wall Street Journal piece says, we confess as we can finally get to the truth. So learning how to do that. You see this Peter Dash AC tweet again. The guy who ran the Eco Health Alliance and gave some of this taxpayer money through Eco health alliance to the Wuhan Institute. He says. Hey, there were no bats in the Wuhan lab. For genetic analysis. We just released them back into the lamp. Now, if you're practicing with the Wall Street Journal author says, And he says, when you're learning to read propaganda, there's an element of truth, but read it upside down now. Producer Jim What would that mean? If Peter Dashnak told you there are no bats in the Wuhan lab, and you're reading it upside down? Producer? Jim What does that mean to you? Quick test. Mhm. I was actually asking a question I could drink some of that tea and you answer too fast. Yes, it means just the
The Similarity of Chinese Communist Propaganda and Our Lying Media
"And I'm reading this piece in The Wall Street Journal. And it's about Chinese Communist propaganda really applies to propaganda outfits throughout human history, Prov, the Soviet Union or whatever. And it was this fascinating piece by Perry Link called Beijing protests allegedly too much and it talks about how you have to learn to read. Communist propaganda from China and their media outlets. And when you learn to read a quote upside down, the stories make sense and I thought to myself, I'm sitting there. I'm always thinking of. You know what's a good, solid narrative for a show that ties things together today because we've got a lot of material to get to And I thought, Gosh, that said, Like Once we learn how to do what you know the citizens of China have had to do with their own media to read media reports upside down, We can finally start to get to the truth. Let me read you a quote from this Wall Street journal piece because it's very telling. And I want you to tell me something going to ask you up front. What is any different from are the Chinese propaganda from the Chinese Communist Party and state controlled media in China? What's different than our media here? Serious question After you. What's different. You have to employ the same tactic it to get to the truth to our lying media here. Hear from the piece called Beijing Protests allegedly too much quote. Many years ago. A distinguished Chinese writer Woo Zuzang explained to me that there is truth in Communist Party pronouncements, but you have to read them quote upside down. If a newspaper says the party has made great strides against corruption in Hannon And you know that corruptions recently been especially bad in and on. If you read about the heroic rescue of eight miners somewhere, you can guess that a mine collapse may have killed hundreds who aren't even mentioned. Learn to read the story upside down. Read upside down. There's a sense in which the official press never lies. It cannot lie. It has to tell you what the party wants you to believe. And if you can figure out the party's motive, which always exists. Then you have a sense of the
"the journal" Discussed on The Journal.
"Members. We all know that Europe is not out of the woods yet. This week, the European Union made a historic announcement. From where we started. This is an enormous achievement. And this is big enough to make an enormous difference. It will invest in retail help. Countries had hard by the pandemic. The EU passed a two trillion euro corona virus rescue package, and for the first time ever agreed to give hundreds of billions of euros of aid with no strings attached. That's a historic step that has always been an aspiration in the European Union in some quarters, but never was allowed to happen. And now it's happening. Boy On Panchev, ski covers Europe and he says that the stimulus package represents a major shift in large part, because one of the biggest opponents of this kind of plan has now become one of its biggest backers. German Chancellor Angela Merkel. The biggest battle, perhaps in this whole drama was to win over Chancellor Merckel to convert Germany from a master of authority. To a country that stands for helping others financially without any strings attached. This drama included secret phone calls bottles of Burgundy, wine and lots of face masks. The end result, this rescue package may not only help Europe deal with the economic fallout of virus might also help save the European Union from breaking apart. Welcome to the Journal. Our show about money business empower. I'm Caitlyn it's Friday July twenty four..
"the journal" Discussed on The Journal.
"This week. Two of the biggest professional sports leagues are getting back. To work. Basketball and baseball players are reporting to training camps as the two leagues try to play sports in the middle of a pandemic. What the NBA and what Major League Baseball are. Are Billion dollar businesses, trying to recoup los revenue figure out a way to survive in a world that changed overnight in the middle of March and I think it could show how people can get back to work and restore some sense of normalcy during these deeply abnormal time. Ben Cohen covers the NBA and he says that while businesses around the country may look these leagues for lessons in reopening, the two leagues are taking very different approaches. Basketball is moving its league to a so-called bubble in Florida. Baseball on the other hand plans to play games all across the country. I feel crazy when I look at the NBA plan and the baseball plan because. These leagues were handed similar versions of the same problem. They have come to wildly different conclusions about the best way to proceed. These two major sports leagues came to these wildly different scenarios in many ways because of economics. Welcome to the Journal. Money Business and powered. I'm Ryan Kanoute Central. It's Friday July tenth. Coming up on the show how labor disputes have set the NBA and mlb on very different paths to.
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"Our colleague vowel borderline recently put on a surgical mask and drove to a rural town. In North Carolina called rich square brisk wear and the northeastern quarter of. The State is very beautiful. It's very flat very very rural. They grow a lot of soybean Easter girl out of peanuts. Now there's a lot of logging. It's got a population of nine hundred and it's got a beautiful little downtown me just gorgeous. One of the most important businesses in town is the rich square market. It's an independent grocery store the only place for many miles to buy fresh food. But it's much more than that brisker marketplace on much beer role in this community than the typical grocery store. It is one of the major employers. They've got thirty five employees. You can pay your electric bills. You can cash your paycheck there. There's an ATM. They're outside a church. You don't run into people that much in a rural area so rich square is a place where people actually. They don't get dolled up but they know they're going to run into their friends at the store. It's the community gathering place. This rich square institution is now grappling with the disruption caused by corona virus. And it's falling to one man to keep the town fed. Keep his employees safe and keep his store alive in the middle of a pandemic today on the show. How one small. Business owner is tackling the challenge of running the only grocery store in town. Welcome to the Journal. Our show about money business and power. I'm caitlyn bought. It's Friday April Twenty. Four.
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"On farms across this country. There is food that is rotting or going to waste. Because there's no outlet there's no place for farmers to market their crops. Jesse Newman covers agriculture. And She's hearing from farmers about scenes of devastation stuff. She's never seen before chicken. Companies have been stuck with too many chickens so just imagine the amount of chicken that we as Americans eat in restaurants and so in an effort to shrink their flocks. The company has started breaking eggs so that they don't have to hatch the checks and then raise them for slaughter. I talked to a major vegetable producer and processor in California and. He told me that his company had to plow under about thirty million dollars of produce since the beginning of the crown of Iris. No one knows just how much money farmers have lost so far but experts estimate losses could run into the billions of dollars today on the show. How a national shutdown is leaving behind piles of wasted food and pushing America's farmers to the brink. Welcome to the Journal. Our show about money business power. I'm Kate Linebaugh. It's Monday April twentieth.
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"Much of the. Us has been shut down for nearly a month now with the goal of minimizing the spread of the krona virus in bringing the number of new cases down but in order to keep the number of cases down and reopen the country public health officials. Say One of the most important things they will have to happen is a long-standing technique called contact tracing contact tracing means identifying people who are sick and figuring out who those people have interacted with the original technology for this is probably a notepad and a telephone. You find somebody who's infected and you write down everybody that they've talked to in you trace it down manually but there are efforts around the world to develop more sophisticated tools than just a notepad and a telephone specifically a tracking device. Most of US already carry around in our pockets are smartphones and in the US to tech giant's apple and Google have formed an unlikely alliance to try and help today on the show apple and Google team up to use billions of phones to track the corona virus and what that effort shows about the trade offs between privacy and public health. Welcome to the Journal. Our show about money business and power. I'm Brian Knutson. It's Monday April thirteenth..
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"Today. The Labor Department said another six point. Six million people filed new unemployment claims last week and Eric says that it won't stop there. I think we'll still see claims in several million level for several more weeks. It's multiple times the previous records and for multiple weeks in a row which is just staggering economists. I spoke to our estimating somewhere. Between Sixteen and twenty seven million total jobs lost due to this pandemic. Eric says once states start receiving money from the federal government and was all. These claims can be processed. Those efforts will help stabilize the economy. So that's the positive thing we saw the level of of people who are receiving unemployment benefits that jumps in the most recent data to a record high. So now there's more than seven million people who are actually getting unemployment benefit checks. This systems are starting to get into gear. So if the systems do fully get into gear. What do economists say would be a good outcome? What is a really good outcome in? Terms of economists is not what the regular person thinks is a good outcome. The regular person might think we're very lucky and we get the all clear on Memorial Day that the economy. We'll be back on its feet. Maybe by Labor Day. That's not. What economists think? Economists think that if we got the all clear you know this spurring. The economy would recover. All the jobs lost sometime between late. Two Thousand Twenty. Two and early twenty twenty three. That's how long it'll take two academy to rebound so these millions of lost jobs. You don't just get to flip the switch and turn all those jobs back on no now even if a Christmas two years from now we're back to the place where we were in the holiday season this past year that would be an incredible outcome for the economy like that would be the plus great for the economy. We gain all these jobs back in the course of like two years. That would be a miracle. That's all for today. Thursday April ninth. The Journal is a CO production of Gimblett and the Wall Street Journal. If you like the show follows on spotify or wherever you get your podcast. We come out every weekday afternoon. Thanks for listening see tomorrow..
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"Are nearly seventeen million. Americans have filed for unemployment in the last three weeks of data. It's a massive collapse of the. Us labor force almost one inten. Us workers have sought unemployment benefits Erik. Morales covers the labor market. He says that with these numbers continuing to surge. The unemployment system is not prepared in many cases states. Don't have enough staff or resources to handle the tidal wave of applications and the reality is that millions of people people who have growing piles of bills to pay might be waiting for weeks for money from the government in some cases. The wait time is long enough. That government offices are referring people elsewhere. The unemployment office in Austin Texas told me that they're sending people to the United Way they're sending people to share it east. In some cases. Charities can give you a two hundred dollar loan to tide you over so you can get groceries so you can make a little bit of a rent payment or something like that. That's kind of where we are where people who had a job in many cases even a stable job a few weeks ago now are at the whim of charities trying to make ends meet today on the show the surge of new unemployment claims and why state systems are breaking down. Welcome to the Journal. Our show about money business and power. I'm Caitlyn Ball. It's Thursday April ninth..
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"Millions of people all over the US have been told not to see other people not to go out for dinner not to leave their homes and those directives along with the fear of the virus itself have changed the way that almost every consumer in the country is behaving people would love to go out to see a movie. They'd love to go out to a restaurant and the restaurants are there and the movie theaters are there. And we can't go to them. John Hilton Wrath is a senior economics writer. I've never seen something like this where literally people can't go out to consume the things they want to buy and they're just major ramifications for human contact is critical to economic activity and when you limit human contact it just has huge implications for the way this economy works every time in American keeps a dollar in their pocket instead of spending it at the bar or on a trip to the zoo. That's a dollar not going into the economy and with all those dollars all that cash being taken out of the economy at once. It's creating a major problem across the whole country right now. There's a cash flow crisis in America. That's affecting millions of businesses and households. Who aren't getting the money in. They need to pay their bills today on the show the cash crunch hitting businesses all over the US and why the government is trying to stop it from becoming a full blown financial crisis. Welcome to the Journal. Our show about money business and power. I'm Caitlyn Baugh. It's Monday. March twenty third.
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"So we've got all of this piling on and there's going to be a lot of pain. What was the reaction like from Wall Street analysts and oil officials around the world? Some of the words. You don't want to repeat on a family podcast but no one had ever seen anything like it. Ken Brown is our financial enterprise editor. You saw oil prices collapse. You know causing people to lose billions of dollars investors to lose money changing dynamics for drivers for oil drillers for everything it was. You know pretty unbelievable this oil price. War couldn't have come a worse time for the global economy and the decision to set off. This war was made by one man the Crown Prince of Saudi Arabia Mohammad bin Salman. Here's a guy who is sitting in. Riyadh in this kingdom and then he can turn around and basically blow up the world oil market. He wants to be in power and he is like listen. I'm the boss is nothing you can really do about it today. On the show with the world economy on the brink. Why did the crown prince start a devastating oil fight? Welcome to the Journal. Our show about money business empowered. I'm Ryan I'm Kate Linebaugh. It's Friday March thirteenth..
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"So take me inside the mind of a CEO here as the virus plays out. They have to make a decision about whether they want to lay people off in order to maintain their profit margins. How do they face this? Calculation so see does have a really interesting calculation that they have to make right now what we saw in the nineteen eighty s and two thousand was almost a reflexive response to economic crisis was to fire workers to protect their profit margins. Now there are reasons for them to think twice about it this time. One reason is a lot of American. Ceo's have gotten a lot of flak for how poorly they treated workers over the last twenty years. Did they really want to respond to virus outbreak right now by letting people also this virus could pass? We could get to the summer and we could see that. The health crisis is dissipated and businesses. Getting back to usual now companies have to ask themselves. Do they really want to get rid of workers in an environment where things could return to normal within a few months? The unemployment rate is exceptionally low. Right now a lot of businesses have spent the last several years complaining about worker shortages not having a large enough pool of potential workers. So you know what we could see in. This episode is a hoarding of workers rather than laying them off holding onto them. Because they don't WanNa lose them if things return to normal one example that we've seen of this an interesting one is United Airlines and the company has announced it is putting in effect a hiring freeze. And we've already seen that take effect in terms of the next class of pilots that they plan to bring in for training now. United didn't say that they were firing workers. They said they were doing a hiring freeze. Because they're seeing bookings decline and in some ways this is encouraging that they're not going to the corporate reflects of firing. They're just taking a wait and see approach and saying we're not going to hire as much as we had planned to one institution. That's not taking a wait and see approach. And that already a major step this week to fight an economic downturn. That's after the break. This episode of the Journal is brought to you. By business school a podcast by synchrony synchrony is changing what's possible for people and businesses with consumer financing solutions digital innovations in data insights. That help them grow in now. Business schooled is back with the new season and a new host Seraya Darby. She's meeting with eight entrepreneurs to find out how they're not just surviving but thriving new season new host new things to learn on season. Two of business schooled. Subscribe wherever? You get your podcasts.
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"This episode of the Journal is brought to you by linked jobs hiring. The right person is critical. But it shouldn't take time away from your other priorities. That's why Lincoln job screen candidates for both hard and soft skills like collaboration creativity and adaptability. It means your job. Post is seen by people who match your business allowing you to hire the right person fast. Visit Lincoln Dot Com slash the Journal to make your first job post. You can pay what you want. And the first fifty dollars on them. That's Lincoln Dot Com slash the journal terms and conditions apply Welcome as sanders rises in the polls more voters are confronting what his association with socialism might mean his opponents have tied him to the kind of radical socialism. He's trying to distance himself from like the kind of the Soviet Union and now they've found what they consider evidence. An old video spreading on twitter footage that aired on Vermont local television this this video took place in the eighties when Sanders was mayor and Sanders was working to create a sister city program which is something that he is still very proud of and that he points to with a city in the Soviet Union and he went and basically you know met with various leaders but he did praise certain things like the public transportation system. He talked about the culture available for the young people also. I was impressed by the youth programs that they have their palaces of culture for the young people a whole variety of young a young people and cultural programs which go far beyond what we do in.
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"To our barrier. Marathon is sort of athletic white whale. Right it's this. Mark that a lot of people have thought was impossible to break and that's one reason why some people wanted to try to chase it down and break it barrier once. He finished the marathon in one hour. Fifty nine minutes forty seconds so even at a little time to spare centers. How did Eliot Keep Shoghi break? What seemed like an impossible barrier in running he was an accomplished Olympian. He'd been training for months. He had a team of Pacers but what many people thought was a key to his success was something. He was wearing his shoes. Kip trophy is wearing these. Very distinctive. Think sold white Nike shoes Once he broke that barrier. I think a Lotta people said this is confirmation that hey these shoes are making a difference. What was great for? Nike was very disruptive to the rest of the world of running today on this show the Nike shoes. That's changed running and the battle. It set off over the future of this sport. Welcome to the Journal. Our show about money. Business and power. I'm Kayla I'm Ryan Knutson. It's Thursday February thirteenth..
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"Elon? Musk's behavior some people have worried that he's erotic. The Journal reported that the reason he tweeted that he had the funding secure to take the company. Private at four. Twenty was kind of amuses. This girlfriend at the time about marijuana since that since that number is part of marijuana culture wherever he initially cemented his reputation in drug culture in September two thousand eighteen when he puffed on marijuana blunt during a live video interview. I mean it's legal right so illegal. Okay BACO and marijuana in their sodas again not something most. CEO's do some investors weren't exactly thrilled about musk's behaviorally all the dramatic details. Make me a little nervous frank about his ability right now to operate a motor vehicle or an electric to say nothing producing them at scale around this time. Tesla also had another problem you on. Musk once promised that tesla would make five hundred two thousand cars in two thousand eighteen but by the end of two thousand eighteen. It only wound up delivering around a half that two years late to launch the Model X.. Its first SUV SUV. When asked about these delays? Musk once said quote. Sometimes I am not on time but get done. All of this prompted skepticism skepticism from the bears. So before you mentioned these famous bears like David Einhorn. How is he responding throughout all this like? How did he respond to that tweet? Where on must said he was going to take the company private so David Einhorn told investors? Recently that things like the funding secured tweets show that Elon. Musk thinks he's above the law and that concerns him and it makes Elon. Musk really really angry. That all these people are shortening his stock and he goes on twitter and says things like the short burn of the century is coming Um to kind of taunt the group of people that are betting against his company. Musk has gone after Einhorn. He wants tweeted that he was gonNA me give Einhorn a gift that nodded directly to his short-selling saying quote Wilson Einhorn a box of short shorts to comfort him through this difficult time and and it looks like Einhorn actually got them. He later tweeted a photo of some white elastic waist. Shorts saying quote. I WANNA thank Elon. Musk for the shorts. He's a man of of his word. They did come with manufacturing defects. Hashtag Tesla twitter battles like this apparently can work from us. What's what's interesting is that? Sometimes these tweets are followed by jumps in share prices which hurts a shortsellers. But they're not the only thing hurting the bears after the break. The Tesla bears have a bad.
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"This episode of the Journal is brought to you by business school a podcast by synchrony synchrony is changing what's possible awesome for people and businesses with consumer financing solutions digital innovations and data insights. That help them grow. And now business. Schools is back with with a new season and a new host Seraya Darby. She's meeting with eight entrepreneurs to find out how they're not just surviving but thriving new season new host. I new things to learn on season. Two of business schooled. Subscribe wherever you get your podcasts Welcome back the Democrats have spent the past year renegotiating parts of the US MCA and this week. They've announced what the final version looks like. There are new rules about energy digital data generic drug manufacturing their rules that give dairy farmers more access to Canada and rules. That require more vehicle. Parts be made by workers who earn at least sixteen dollars an hour which might help boost. US auto manufacturing. There's a lot in it but for Democrats probably the biggest one of all was the labor issue. Why was that the biggest issue you know? Democrats have been a little worried eight. I think at how successful president trump had been at appealing to people in the labor union community. Democrats viewed labor unions is like their traditional one of their traditional bases in one of their traditional centers of power so for a Republican president to come in and do something that the labor unions like. Actually kind of liked was pretty alarming to them. So what did the Democrats negotiate for. They wanted to make sure that Mexican factory workers had better better standards. They didn't want Mexican factories to just be like the very bottom of the barrel. Just dirt cheap wages. No safety standards quality standards words. They wanted to raise the floor on Mexican factories. So that the difference between an American factory to Mexican factory wasn't so severe rate so what the Democrats essentially are trying to do is kind of bring over some of the factory standards from the US to Mexico where there aren't such strong labor unions. It's in an attempt to even the playing field and essentially help American factories. Exactly okay so the Democrats spend a year renegotiating this trade deal and in the end. How different is what we have now from Nafta there are kind of significant provisions in a few of these areas like energy digital trade labor auto rural but overall probably eighty percent of trade? Or something like that. It's GonNa be pretty much the same between the new deal and the old deal. Economists Up told the Journal that this new agreement won't bring an economic boom to the US though there will be some benefits in particular industries like agriculture technology. The in manufacturing those benefits could take years to see but for now Josh says there's a more immediate impact the big effect here is is actually just having this uncertainty resolved. You know there's probably been a lot of companies who were trying to figure out exactly what they were GonNa do with their business US operations you know. Are you going to build a new factory in the US. You're going to build a new factory in Mexico or you can hire a Mexican factory as one of your key suppliers. There's is a lot of decisions like this that I think have been on hold and so now that you have an agreement in place. There's a lot of those things where there's no reason to wait anymore. You know that you're gonNA. It'd be able to have a Mexican supplier for your factory in Tennessee. You know you know you're GONNA be able to get Canadian steal your plant across the lake in Michigan and and so people can kind of get things going again and if US MCA is not that different from Nafta do you think it really is a victory for the president. I think it is. I mean the campaign pledge was to renegotiate the deal and they did that. The president's policy policy win comes at an incredibly tense time just an hour before house speaker. Nancy Pelosi announced this deal. She held a different press conference to to announce the Democrats were moving forward with two articles of impeachment against the president. So on one hand the Democrats are trying to impeach. The president went and on the other. They're working with him to achieve this major trade victory. Can you talk about the politics of this moment. And why they would do that. I think a lot of Democrats especially those who are in districts where frayed is very important. Couldn't afford to have this deal fall apart and have it be Their fault I mean a lot of them are fairly pro business themselves and they don't want to be the ones responsible for wrecking the economy in their district. Democrats have a lot of kind of self interest in supporting this deal as well. So it's not like they were handing him a victory for no reason and you know if you're a moderate Democrat and you're in one of these districts state elected a Democratic Congress but maybe voted for president trump by a couple of percentage points. Things you know now those guys ray will do commercials where they say. Do you know when the president was doing good things I worked with the president. I'm not someone who opposes every good thing that Washington Tim tries to do the. US MCA goes into effect. Once it's passed by all three countries legislative bodies he's in the US the house's expected to vote on the trade agreement next week with the Senate taking it up in the new year. And that's all for today. Thursday December twelfth the Journal is a CO production of Gimblett and the Wall Street Journal. A special thanks to we'll Malden for his reporting. Thanks listening. See You tomorrow..
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"This episode of the Journal is brought to you by Merrill get personalized investment advice and guidance to help your plans into action what would you like that power to do learn more at Merrill Dot Com Amtrak runs trains all across America and for decades. It's been past few years there have been several deadly crashes on Amtrak routes two years ago Amtrak brought in an outsider to fix these problems his name is Richard Anderson the former CEO of Delta airlines since he took over Anderson has been making a lot of changes and also a lot of enemies today on the show Ken Richard Anderson Make Amtrak relevant to the future of American Transportation welcome to the journal our show about money business and power I'm Caitlyn Bob I'm Ryan Knutson it's Tuesday October Fifteenth so tell me about who Richard Anderson is what's his around most famously he was the CEO of Delta Airlines for nine years he is a tough boss Ted man as a reporter based in Washington DC running delta he was famously and or infamously one of the more hard headed airline CEO's really of his generation how so in taking over Delta he was taking over an airline emerging from bankruptcy he turned them into a very profitable airline and he was really willing to part company with other airline executives at one point Delta quit the airline trade group over a policy disagreement he just sort of a guy who has been seen appears as willing to Zig zagged and a guy who's totally unapologetic about it if he felt it was the right decision and this is exactly why Anders it was called to head up Amtrak what I think a lot of people involved in the railroad would acknowledge was just a kind of organizational dysfunction when they went out to look for a CEO to run this railroad they went looking for someone who was gonNA knock some Ed's together and put a charge through the company and get it looking better so why do you think he decided to take on a job at a challenging operation like Amtrak it's a really good question I think the guy was in the mood for a challenge he's been on the hill a lot since he started Amtrak and usually finds a way to work into his testimony the fact that he doesn't get paid need to run Amtrak he doesn't get paid to run Amtrak doesn't get paid there's GonNa be no ability on the part of workers to say Richard Anderson is eliminating these jobs while he's making X. number of dollars a year that line is not available to people who disagree with this decision there are a lot of people who disagree with some of the things Anderson is doing to change Amtrak one of his fights about how to make train safer there've been several major accidents in recent years in two thousand fifteen an accident in Philadelphia killed eight people and another in two thousand seventeen in Washington state killed three hundreds of people have been injured Anderson thinks these crashes could have been prevented with more automation and train cars pilots increasing I use automation to fly planes in Anderson wants to put similar technology in trains the most shocking thing to anyone who is coming from aviation into railroading is the amount to which safety still relies on one human being in railroads if I'm an engineer and I drive a train from New York to Philadelphia I am required to Eddie and memorize the route what the landmarks are that I'd be passing knowing that if I pass this factory building on the right hand side of the tracks that I am x number of meters away from zone I have to slow down or speed up wow that sounds like it takes an enormous amount of memorization it's total reliance on the human brain a system of rules and we know that the brain will let us down from time to time and you have in the case of an Amtrak train hundreds of souls riding on that so if he wants to do a very aviation style safety approach on the train and in particular wants to bring screens into the locomotive cab so that you would have a sort of a heads up display in a moving map that would show the engineer where he is at all times and that is completely anathema a two railroad tradition why would there be any opposition to this idea well the fear of distraction among engineers themselves the engineers union and the safety regulators has always said no screens whatsoever no way and probably the most serious rule other than you cannot be drunk or on drugs when driving a train is you cannot have your phone on because the chance of distraction is so great so that's a big fight that he's having Anderson faced another fight after he took on an issue that nobody disagrees with trains being on time one of the reasons Anderson says trains are often late is because of hobbyists people who restore old train cars and attach them to the back of Amtrak peak railroad car from the head of the Pennsylvania Railroad and can afford to store it somewhere the way it worked for decades was we could hook that onto the back of an Amtrak Regional in his trying to provide is modern efficient twenty-first-century transportation and importantly profitable but how do you turn around a company.
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"This episode of the journal is brought to you by lincoln jobs. Lincoln uses their knowledge of people soft skills and hard skills to match your job listing to the most relevant qualified fight candidates to get fifty dollars off your first job post go to lincoln dot com slash. The journal terms and conditions apply fedex fedex announced last week that it will no longer be shipping packages for amazon. It's a decision that will lose fedex. Almost a billion dollars in revenue <music> fedex is business is shipping boxes and almost no single company generates more boxes to ship than amazon today on on the show. Why would fedex cut ties with a company that would seem to be. It's perfect customer. Welcome to the journal <unk> our show about money business power. I'm ryan kanoute. Send an i'm kate linebaugh. It's monday august twelfth. The relationship between fedex in amazon started to deteriorate after one dramatic christmas. Let's let's go back to december twenty thirteen. It's christmas and it's a year were ecommerce is growing taking share for malls. It's on fire palsy. Albro covers the shipping industry for the wall street journal. We're getting down to the last few days before christmas. Everybody's sitting at home and they are buying presents presents for their kids. Their relatives and they're expecting it to arrive before christmas but what's happening behind. The scenes is u._p._s. Fedex are getting crushed. There are just millions of packages that are being dropped into their network. Not only from from amazon dick's sporting goods macy's kohl's l.l bean. I mean just any retallack you can think of the network was being completely overwhelmed and millions of people a little bit get their packages before christmas. Christmas was ruined for a lot of people christmas. Cheer turned into christmas jeers today after a lot of disappointed online shoppers were without out there gifts on christmas morning. I waited around for hours and hours for it to show up and it never did. It's terribly disappointing because we ordered these things on december first. I was really excited. I couldn't wait to see your face and it didn't happen so i was disappointed and the carriers had to issue refunds john's and sort of amazon amazon akitas well but amazon did something about it. They really got serious about wondering thing. You know what do we have to do to make sure it doesn't happen down the road and they decided that they were going to look into building their own shipping network that strikes me as an extraordinarily ambitious. Che's response to something that all of retail had to deal with but here's amazon deciding. We're gonna actually build our own logistics company right but amazon is known for big ambitious. Che's ideas and really disrupting industries and they certainly have the capital to pursue this sort of bold idea. I don't think it would be hyperbole to say that they're one of the most i feared companies. Incorp america dina mattioli covers amazon for the wall street. Journal amazon's not content to partner with other companies when they think that they could do these things better themselves. They're studying different companies and industries that they can get involved in and if there's an ability to bring efficiencies or to execute under better level they probably will amazon's done a good job at looking inwardly and saying well if we need this type of service. Maybe our customers need it to amazon has used this playbook many times. When it sees an opportunity in another industry it's studies that industry carefully and then pounces so a prime example example of that is cloud computing amazon started growing beyond book selling and they started adding lots of other categories and they needed data and computer pewter bandwidth to help serve those customers so they created cloud computing and then at some point. They said you know what if we need this to run back operations. Any number of companies in the world world probably need it to and that's now the cash cow of the business. I think a lot of people still describe. Amazon is one of the world's biggest retailers but there's so much more the not these days. They are a massive hollywood studio. They're one of the biggest advertising companies in the world. They make their own electronics. They make kindle and alexa which are wildly popular. They're getting into healthcare. They're getting into health insurance and with whole foods and their amazon goes stores. They're also getting into grocery so there's really you know industry that they don't have their tentacles in some fashion in how do companies react when they start to pick up. The scent amazon might be looking into their neighborhood with panic. I think i know this from my prior job covering mergers and acquisitions that you'd be hard pressed to find a single boardroom in america where amazon's not regularly brought up up and people are trying to make themselves amazon proof but when amazon decided to get its tentacles into the shipping business. Fedex's ceo didn't react with panic antic at all here. He is in a fox business interview. Amazon is now a big customer for you time. They're trying to get their own trucks. Their customers twelve competitor the fact that amazon had lots of trucks and things like that is smart from them. Not a threat to us sex would always face the question of what are you gonna do about amazon as a competitor amazon's growing. It's living in our county feel about that. Is that a risk for guys and fedex stance in the words of their c._e._o. And founder fred smith was that amazon being a competitor was quote fantastical. He didn't believe that amazon would build out a network network to rival its own and there was a reason fedex was doubtful. When it comes to logistics. You can't just bill the network to deliver packages any given week. You have to weigh over build your capacity. There's a phrase this isn't logistics industry that you build a church for easter and what that means is that every sunday your church. It may not be packed but on easter. It'll be packed and it'll be overflowed. Amazon needed to build its church. They needed to have its church. That can handle there overflow. Their big peaks in volume around christmas around prime day. Despite this enormous barrier to entry amazon got to work doc building. It's church anyway in just a few years. It's built up a massive logistics apparatus including hundreds of warehouses tens of thousands of trucks and dozens of airplanes over the last few years you start seeing amazon trucks on the road more often so in two thousand fifteen amazon started prime now which is basically one hour delivery and some metro markets later on that year. They started leasing airplanes. They also started looking for people who on small businesses though basically be amazon's delivery partners. I you could start your own business. Hire workers renison vans and you basically have replicated the model that fedex uses in his ground business two years ago twenty. Two percent of packages were delivered by themselves today. Forty five percent of packages are delivered by amazon so almost half of amazon's packages these are delivered by amazon itself and if doubled that in just two years yeah amazon now has around fifty cargo planes now that's still pales in comparison to fedex is around seven hundred planes but for only a few years of work for amazon. It's not bad what u._p._s. has built out over a century korea and fedex has honed over forty years amazon have done no matter of years and all of this would have been fine for fedex. Maybe if amazon was building the network to ship only its own packages but last year amazon declared that shipping other people's packages would be a new line of business third party's people and businesses who sell on amazon can now ship through amazon too and that cuts directly into fedex is business say you're a a sneaker retailer and you're selling shoes on amazon the way an ebay seller might sell on ebay you would sell the shoes an amazon truck would come pick it up from you and they would put in their network the way they would amazon packages and get it to the end user so fedex was just kind of you know what the heck were worshipping your packages. It is but you're also building this business to compete with fedex any business who wakes up one day and sees a customer turning into competitor as the the right to reevaluate their relationship so last week fedex re evaluated and decided to cut ties with amazon and they could afford award to do that. The nine hundred million dollars amazon pays fedex to deliver packages. It's actually only about one percent of fedex is total revenue and there were risks to staying with amazon if fedex were to stay with amazon so amazon becomes not one percent of its revenue but five percent or ten percent then it's really hard to split ways and that's the situation one fedex is biggest competitors finds itself in right now u._p._s. in a really different different position with amazon amount of revenue that u._p._s. Guests from amazon is much closer to ten percent than than fedex so certainly couldn't cut ties with the retailer like fedex. Did the amazon grew so big that they could bring a lot of those packages into its own network ups be left with a huge revenue whole you can't really lose that to give give a customer and not feel immediate pain. That was one reason that fedex proactively cut ties with amazon even though it was still getting business shipping amazon packages fedex figured if amazon really has these ambitious to grow their delivery business. They're gonna leave us no matter what so. Why should we be helping them in these last few years of then giving us. This revenue is basically saying. You're not gonna fire me. I quit we'll figure out under our own terms rather than having our hands before when amazon says we don't need you anymore. It is a risk. I mean it's like the biggest ground beef supplier in the world and not at selling hamburgers to mcdonald's so obviously fedex is taking a risk by cutting ties with amazon but it's a risk that fedex thinks could pay off big time fedex is planned to go up against amazon and make itself a lot of money in the process. That's after the break <music>. 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"Today on the show one attempt to make a new shoe from start to finish in the United States and what it takes to be made in America <music> welcome to the Journal. I'm Kate Linebaugh and I'm Ryan Knutson. It's Friday July twelfth. One all American brand the Red Wing Shoe company has been making shoes in the U._S.. For over a hundred years and the ethos of the company is very much tied to made in America Red Wings been around.