Brought me to the smithsonian because i lived in baltimore, and it was free. And i came to love the smithsonian, so when i had a chance about a dozen years ago to become a regent of the smithsonian, i jumped at the opportunity. I got to meet somebody then who was then building the africanAmerican History museum. He started with nothing to build that museum and now made into one of the most popular museums in the entire country. President obama i am so proud of lonnie bunch. We are so proud of the work he has done to make this day possible. David and then i was the chair of a search committee, and we looked at many candidates around the country. It was clear that lonnie bunch was the best person to be the secretary. He knew the smithsonian, was committed to the smithsonian, his life was the smithsonian. So, it was an easy choice. We are at the housing museum part of the smithsonian, and lonnie bunch is the 14th secretary of the smithsonian. You were the first africanamerican to be selected and the first historian. Is that right . Lonnie that is right, and i am very proud and glad to be with you today. David i am still on the board of the smithsonian. I will ask you tough questions anyway. Lonnie i appreciate that. David now that you have been secretary for a while, is the job as good as you thought it would be, and are you happy to have it . Lonnie no one knew what it was like about a pandemic, but i learned the wonders of the smithsonian and it comes together. The smithsonian is a collaborative museum and Research Center that does not always blend, but because of this pandemic, people have come together across lines with their creativity, scientists, historians, educators. So, for me, i am really glad, because i am getting to see what the smithsonian does even in the most difficult of times when it comes together and brings its creativity to bear. David how did you operate during the covid19 situation . How did you operate the zoo and the museums . Lonnie i realized that once we shut down the buildings, i still needed the smithsonian to be operating. So we went online and created educational opportunities, portals, to get science, history, art. We made it so scholars could continue to do the research and scientists could continue to do the work they need to do. But the reality is we recognize that now, as a result of this virus, we have to rethink so much about the smithsonian. We have got to rethink about how we telework more effectively. We have got to think about, once people come back, what does social distancing mean in a museum . Because, as you know, the major thing that happens in a museum is people who do not know each other come together around an artifact like the shuttle. So, are people going to want to come together during a pandemic . So we are thinking about, how do we create Community Even with social distancing . David the smithsonian is not open. You have two parts open. This museum is open and the national zoo is open. Lonnie right. David why did you open those two first . Lonnie i want to figure out, how do we open the rest of the smithsonian . The zoo because it was outdoors, that was easier, but also, this museum because it was large and also has parking. Because there were issues with transportation. So, basically, these were the test case. If the virus then begins to come down, to allow us to slowly reopen the rest of the smithsonian. David now, where did you operate from when covid19 was prevalent . Lonnie well, because there were some guards that had to work, i thought i would go into the office, but i realized if i went into the office, so many other people would come in, so i ended up working from home. I learned to master zoom and other technologies i am still fighting with, but i am basically working from home every day. David museums have been around, but why do we now need museums . Why cant you just look at the screen and see what you need to see . Lonnie i think there is something powerful about the object. The fact that you can see the Space Shuttle right in front of you is really powerful. The connection. I have seen people stand in front of the emancipation proclamation or chuck berrys candy apple red cadillac, and it stimulates conversation. So that, in essence, what we should do with the smithsonian is find the right tension. We have to recognize that the traditional stuff is good, that we want people to enjoy it. But now we also realize that as a result of the pandemic, more people are comfortable receiving content digitally. It really just means we need to find the right balance between serving the millions who never get to a museum and the millions that actually come to the smithsonian. David during the covid closing, we had some race riots in washington and some other cities across the country. In reaction to the death of a number of people, such as george floyd. How is the smithsonian reacting to that . Lonnie i thought it was really important to realize that in some ways, the smithsonian is the glue that holds the nation together. It is the kind of place that can bring people of different political points of view together. So when all of this angst and pain happened as the result of the murder of george floyd and others, i realized that the smithsonian had a role to play. That we should help the public with the things that have divided us. One of the things we did is we got support from bank of america and created a program that looks at race, community, and our shared future. To basically say, how do we create town halls, an opportunity for people to come together to talk about what has divided us. How do we use the resources of the smithsonian and our expertise on africanamerican culture to give people guidance to help them live their lives . David the smithsonian itself. What about the diversity in the smithsonian workforce and the executives who helped run the museums . Lonnie i think the smithsonian, like a lot of places, has work to do. We have got strong and diverse leadership. I think that the smithsonian needs to do a better job, because if we are going to help the public grapple with these issues, we have got to model it. David the secretary of the smithsonian, when we had the Lafayette Park riots, or whatever you want to call them, he was wandering around, looking for artifacts. Is there any truth to that . Lonnie old curators cant break their habits. I was talking to someone and looking at the materials for the walls, collecting for the smithsonian, but really directing others, saying this is what we should have. David so you are Walking Around saying, can i have this, and the police are saying, sure . Lonnie i had to show my id. David so you didnt get arrested. What is the biggest challenge . Fundraising . Dealing with members of congress . What is the biggest challenge . Lonnie the biggest challenge is to make sure that the smithsonian has the Stable Funding it needs. Because of the pandemic, we have lost millions of dollars. People are not going to the restaurants and shops. Really trying to make sure we have the strongest financial model. Because what it really means is we have got to rethink some things. So rather than just reopen our shops, we have to build more ecommerce. So this is really allowing us to think creatively about what the smithsonian should be. I came to chicago and loved it and had planned to stay there the rest of my career when i got the call to think about, would you like to come back and help build the museum of africanAmerican History and culture . David did you know all of that . Lonnie i wasnt sure how many nos there were. David so lets talk about your background a moment. You grew up in new jersey . Lonnie in the garden state. David the garden state. I assume you did not want to grow up to be in the smithsonian . Lonnie i wanted to do something with history. I have always loved history. The story is which is an absolutely true story is that my grandfather died the day before i turned five. And he would read to me, and he would read books, and one day, he was reading a book, and it had a picture of school children, and it was probably from the 1860s. And he said to me that the picture said, unidentified children, and then he said something i have never forgotten. He said, isnt it a shame that people could live their lives and be unidentified . And that led me to want to understand what their lives look like . And i tried to imagine what were their jobs, where they happy . And it got me interested in history. So, that was the first step. The second, growing up in the town i grew up in, there were very few africanamericans. In fact, i was the only africanamerican in my elementary school. And there were people who treated me horribly and people who treated me wonderfully, and i thought if i could understand the town, maybe they would understand me. David your father would drive you to the south, but you could not stop many places except one place he would take you. Lonnie we would drive from new jersey to North Carolina in the jim crow era. We would load the car up with food and blankets, because he knew he could not stop. And he was the only driver in those days. David you could not stop because there was no place lonnie there was no place where black people could stop. And he pulled off into a motor pool, and my brother and brother were asleep, and i was watching him. He went out to smoke a cigarette, and i noticed he was standing under a sign that said white only, and i was terrified. I thought something was going to happen. I was just a wreck. He finally comes back to the car. He recognizes that i was really worried, and he said to me, i have never forgotten, you know, this is my america, too, and it reminded me that no matter what happens, this is part of my country and i want to do what i can to make it fairer. David why did he bring you to the smithsonian . Lonnie for me, when we used to go south, we would go past museums like in richmond and petersburg, and i was a civil war buff. And i would always want an excuse to stop. And he would always find an excuse not to stop, and i remember on the way back, taking out a map and saying, 20 miles before we get to richmond or petersburg and i would sort of alert him, but he would always keep going. But instead of going straight to new jersey, he went to washington, and he pulled in front of the smithsonian, and he said, here is a place you can go to learn about yourself in a museum and not worry about the color of your skin. So to me, the smithsonian has always been a place, for a 12 or 13yearold kid that said, here you can be what you want. You can learn all you want and not worry about the color of your skin. So being secretary in a way was my way of thinking an institution that embraced me when few places did. David so you came to washington to get your undergraduate education at american university. So you are africanamerican male and this is the 1970s . Lonnie the 1970s. David were there are lots of Job Opportunities . Lonnie there were very few teaching jobs, and i remember at the end of my graduate career, i was broke. I was living on a teaching assistants salary, and there was a returning student who was 40 years old. And she said to me, you should go down to the smithsonian, because her husband worked there and i remember saying to her, who works at the smithsonian . Admission is free. Well, i went down and her husband was the head of science. He introduced me to the secretary. I did not know who the secretary was. Im not going to get a job, i am in jeans, i have a big afro. Not getting a job, very comfortable, and he said, we might want to hire you. I said, really . I would like to work at the museum of history and technology, and he said, we do not have any jobs there. We have an opening in the air and space museum, and i said, i am a 19thcentury century historian. He said he would make four times that if you come and work for me if you work at the air and space museum. I said, i will become an air and space employee. That is how my career began. By luck. David you also met your wife there . Lonnie air and space was everything. I met my wife there, i learned how to become a curator there, i learned about the wonders of the smithsonian, so my life has been shaped by the smithsonian. David you were recruited to go to california. What was that . Lonnie i went to be the curator of the first africanamerican museum that explored issues of race. And i went there before the olympics of 1984, so my big job was to do a major exhibition of history and exploration of blacks in the olympics. The smithsonian taught me how to be a scholar, not really how to be a curator. David and then with the Historical Society of chicago . Lonnie that is right. I was in American History for 12 years and was not going to leave. I wasnt really planning on going, but i had a meeting with the mayor and governor of illinois and they said, this is a city that has been tortured by race, and if you could come and be the only africanamerican running one of our major institutions and do well, what an impact you could have. And that appeal to me. So i came back, came to chicago, and loved it and planned to stay there for the rest of my career, when i got the call to think about, and you like to come back and build the africanamerican museum of history and culture . David larry small called you. And he said, come back and build this museum, and you came back and you ultimately took the job, but why did you take it . There was no money, no land, no plan. Did you know all of that . Lonnie i was not sure how many nos there were. I knew there was no plan and i knew that there was no site. I did not know there were no staff. What i realized is that, being an africanamerican running a museum in chicago, it nurtured my soul. I was really happy. But i realized if i could help build this museum, we could not only nurtured the souls of my ancestors, we could help america grapple with race. That is what brought me back. David the Museum Opened right before president obama left office. That was 2016. A very memorable ceremony, but before we got to that ceremony, you had to get an architect to the building, site, raise the money, and get the artifacts. Lets go through that. With the money, how much did it cost to build the museum . Lonnie the museum basically cost 550 million to build, and we raised about 620 million to do that. Half of it was paid by the federal government and half by wonderful philanthropists and donors. David did you ever think you could raise that much from the private sector when you started . Lonnie when i told my mother i had to raise that amount of money, she said that is more money than god can count. One of my strengths is to be able to look at the big picture, put my head down and work. Slowly but surely, it began to work. David you got the money from the congress and the private sector, and then you had to figure out, what are you going to put in the museum . Artifacts. How many artifacts did you inherit . Lonnie zero. We had no artifacts whatsoever. And at some point i thought, do we do it without artifacts . But it is the smithsonian. People come to see the right flyer or the ruby slipper. One day, i sort of fell asleep in front of the television, and i woke up and antique roadshow was on. I had never heard of it, and i said, what a great idea. I stole the idea, i called it saving africanamerican treasures. We took curators and went around the country and help people preserve that 19thcentury photograph, and then people would bring things out and say, do you want this . And suddenly, we found Amazing Things that i was not sure we could find. David how many total artifacts total did you get . Lonnie we collected about 40,000 artifacts. David 75 came from people . Lonnie 75 came from basements, trunks, and attics from peoples homes. David how many people have visited so far . Lonnie over 7. 5 million people. David it is one of the few museums at the smithsonian where you just cannot walk in. You need tickets because the demand is so great. Did you expect demand to be that great . Lonnie i didnt. I knew it would be popular, it is the smithsonian. It has really become a pilgrimage site. For africanamericans and nonafricanamericans. We expected 4000 people a day. We were getting 8000. We had to actually say you have to have tickets to get people in, because the crowds were so great. David so every congressman and senator is calling you for tickets . Lonnie i am everyones best friend. David president bush signed the legislation to approve the museum and president obama was president when it opened. I think he said to you, make sure it is open when im in office. Lonnie lets talk to the president. He says we have to move a little quicker. David as a result of covid, how have you had to pivot, and how has the organization had to pivot . Lonnie i had to put together teams to help me think about this. One team to look at the virus, to give me the best medical advice working with the cdc and others. But then i put together a team to look at, what is the new normal . What does it mean when we reopen there will still be a virus concern . What does it mean that we have to think about doing more digitally . What does it mean that we have to protect our staff . When this pandemic hit, 93 of the smithsonian staff went to telework. So now i have to think about, how much of the work can we do that way . One, it taught me to think differently and use it as an opportunity to ask fundamental questions about structure, about the way you do business. So my goal is to come out of it better and stronger. David so when the smithsonian does reopen eventually, will people be required to wear masks . Lonnie everybodys going to be required to wear a mask unless you have a medical issue. I think our job, first and foremost, is to keep the staff safe and the visitors safe. David what about the lessons you have learned . What lessons have you personally learned, and how have you changed your life as a result of this . Lonnie one of my biggest lessons is i do not have to put my fingerprints on everything. That we have good people working. In other words, i used to think i have to be there. I do not have to be there. The other thing i learned more than anything else is the fragility of human life and the fragility of fairness in this country. So, the pandemic, the dual pandemics of the virus and racism, have really inspired me even more to struggle to help a country understand itself better and to find a country that is freer and fairer. President obama this National Museum helps to tell a richer and fuller story of who we are. It reaffirms that all of us are american. That africanAmerican History is not somehow separate from our larger american story. It is not the other side of the american story. It is central to the american story. President bush i want to give a shout out to lonnie. It is important to understand that this project would not and could not have happened without his drive, his energy, and his optimism. David lets go back to opening day. He worked on this for how many years . Lonnie 11 years. David 11 years. He started with nothing. It opens in the summer of 2016, and who was there . Who were the dignitaries . Lonnie it became a whos who. On the stage was president and mrs. Bush, president and misses obama. I was seated next to john lewis, the chief justice was there, other senior people from the smithsonian. And in the audience were a whos who. Almost every political figure there, so many people from entertainment and sport. And what i was so moved by is the people who wanted to participate in the program, Oprah Winfrey and will smith and robert deniro. So it really became more than i could have ever imagined. It was less opening of a museum and more celebration of a culture. David so were you worried that something would go wrong that day . Lonnie i was terrified. I was terrified that i would mess up. I was terrified that somebody would not enjoy themselves. I was terrified that would not get the crowds that i hoped. And instead we got tens of thousands of people on the mall. It became an opportunity where i thought was some of the best speechmaking i have ever heard. I thought president bush gave a powerful speech on how a great nation confronts its history, does not run from it. President obama talked just beautifully about what this meant to him and his family, but clearly, the late john lewis stole the show. Talked about how this museum was the culmination of the Civil Rights Movement for him. And that this was something he was proudest of. Ill be honest. I was so grateful to be able to help him fulfill his dream. It was a special day. David president bush 43 signed legislation that approved museum and president obama was president when it opened. I think he said to you, make sure it is open while i am in office. Is that right . David he would say to me, you have to let me cut the ribbon. I would go to the construction bill and say, i just talk to the president , he said we have to move a little quicker. David ok. So most people do not have a chance to do two great things in life. One great thing is good. You built this museum. You deserve the lions share of the credit, if not all of the credit. This museum is very popular and so forth. Why did you want to be the smithsonian secretary . As your mother said to you, why do you need that . You already have a great job. And aside from that, you have a great view of the Washington Monument from on top of the africanamerican museum. Why did you want this job . Lonnie because she told me to. I realized that i love what i did and i knew i had the best view. I could see everything. The story is, i took president obama through the museum and he came to my office and said, you have a better view than i do . And i said, you have only worked for eight years. I have worked 11, and this was really my opportunity to say how do i bring more than 25 years of smithsonian experience to the fore, how do i give back to the place that has meant so much to me, and how do i help the smithsonian really rethink itself as a 21st Century Institution . David why do you regard this as an important job for you to do . Because you are an africanamerican . Because you are an american . Why do you care so much . Lonnie the smithsonian is this amazing treasure. A reservoir that the public can dip into to not just understand the past, but to have a better sense about who we are now and really point us towards a better future. It is a reservoir that says, you want to understand about space . We are here to do that. You want to understand about our history . We are also able to help you do that. You want to see the creativity of people, artistically . We are here to do that, as well. So in many ways, the smithsonian really is a great source of information and creativity that i want the public to draw from, so i feel honored to be the secretary. I feel humbled, to be honest, to be secretary because every day i learn something new and i want the public to be able to learn from the smithsonian every day. Yvonne you are watching bloomberg markets, china open. Looks like a muted session in shanghai and shenzhen today. We will see of the equity rally will continue. Renminbi strength, despite the dollars strength we have seen recently. Seems like the renminbi Still Holding around the 200 day moving average. We saw the fix here, eight day were the pboc said it was stronger than what analysts expected. It doesnt seem like we are getting to a point when is starting to become disruptive to the economy. That might have to do with longerterm plan of making the economy more insulated and less exposed to external forces, which we will talk about later on. Speaking of the lack of circulation, flat open across all of your major benchmarks. Currency,mes to the of the against the brexit. The pboc might need to step in. It is stronger against the dollar, not really strong against its other peers. We are getting numbers out of australia
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