Or should we focus on going into a new we . 850 million in assets under management. Hoping to cross 1 billion. Im happy youre here with us to talk about what went on in the market this week. They set the high end but i think you take a step back a bit, the company was started seven years ago raising money. We had the ceo on your program a couple of years ago valued at 300 million they came out at 8 billion and the stock pulled back ten or 11 . Step back a couple of years, its not a bad trajectory, its awesome if you buy on there, not so good. A lot of these companies dont have any profits. When youre still generating revenue and you dont have any earnings, its a debate on whether or not you should invest in that company. Not to disagree with steve, i love his book but i think its accompanied by companies. When people talk about a bubble in the private markets, thats where i like to push back. There are companies where you can make a lot of money investing. I think theres a lot of opportunity casebycase. So youre not getting scared away. For short theres a lot of money in the private market. A lot of money chasing deals so therefore, pushes the price higher. Sometimes prices may go up. But if you believe in the story long term, whether you buy 29 or 27, i think youll be okay. What happened with week work . And cooper, he said it doesnt make sense. Whats so special . I think what happened was they started investing huge amounts of money in the private evaluation of the company went way high. But you see the same thing in the Public Market or any sector getting bid up because blue book believed the future earnings will be better than currently in as something turns, stock goes down. With the ceo being ousted and juul thing out, you have to wonder about the future of the company. You have to reprice. Lets talk about the Broader Market by House Democrats nancy pelosi think its official, will move toward impeachment. I think it probably dies in the senate so doesnt go anywhere. What you think the impact is on the economy . On the markets, very little. Its still one or 2 away from alltime highs. If it continues, we can talk ourselves into slowing down growth. We dont have the growth we had in the past but the economy is still growing. This year there was talk about recession, you have an accommodative fed in the Global Economy slowing down. I believe the u. S. Is the best place to be. Its not as the monarchal growth but its real growth. I think if youre investing in the right sectors and companies have a longterm perspective, its a great one. China will take place the next meeting in early october, i think the tenth. U. S. Mca, i dont know. Even though nancy pelosi said this week we are moving ahead with u. S. Mca, i dont know what that means. This is all uncertainty. But it appears as though people are looking past it because i think with this whistleblower story this week, if you read the story, theres not that much there. I dont think its enough to impeach the president. The fact that people are looking past that, it shows that one side is desperate to get something out on the president more block the president from accomplishing it. If successful, it will be bad for all of us. I think its about the lineup of Democratic Candidates and help us and they say, i think hes going to win again. We better impeach him again because he will and again. Ive got Bernie Sanders and Elizabeth Warren having their well packs. Joe biden is getting on board. They are all campaigning on raising taxes. I think its a huge mistake. If they will attack wall street, if they go after wall street money from they wont be able to raise enough. If theyre going against wall street, they wont have the money to speak with trump in 2020. My one on one with papa johns founder is coming up next. alexa added to band shopping list. Peyton, what are you doing . Nationwides teamed up with amazon to bring you the allnew echo auto. Alexa, add xylophone to band shopping list. alexa okay. We dont need a band shopping list. Join nationwide now and get a free amazon echo auto. [upbeat action music] pilot were going to be on the tarmac for another 45 minutes or so. You may have gingivitis. When you brush, and the clock could be ticking towards bad breath, receding gums, and possibly. Tooth loss. Help turn back the clock on gingivitis with parodontax. Leave bleeding gums behind. Parodontax. On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Welcome back. 5000 establishments across the world, papa johns one of the leaders in the pizza business. Theyve been going through leadership changes since the founder stepped down two years ago. I spoke with him about the controversy surrounding his resignation. Not a racist. What i said was antiracist. Thats been misconstrued. Its been hard on me. Part of my employees. Its breaking my heart. I love small business, the people wake up everyday and make this country great. Its very upsetting and the whole story is uncomfortable. Let me take us back to know what happens. You put a plan in place, you are planning on stepping down. So that was all in the works, you were going to step down. Passport a couple of years, you had a phone call with marketing executives training. During that phone call, you said something which i guess went viral somehow and now theres a debate about why you stepped down. You had these plans in place beforehand anyway. So tell me what happened. In 2009, 6. 49 a share. When i stepped down in 16, was 80 a share. From 17th to february 4, 2019, stock went from 80, down to 39. The stocks went up from 39 to 49, fantastic. Things are much better on wall street. The thing im concerned about, things are not as healthy on main street. The economics are unhealthy for franchise, wall street will not be happy either sooner or later. I want to talk about how its going, whether or not youre interested in getting scamp there. There still a shareholder in the company . Yes. When youre doing training, he said something about Colonel Sanders from kentucky fried chicken. What you said was taken out of context. Absolutely. Theres a tape that is anti racist. Everything i said was positive for diversity. I think i said was Colonel Sanders called black people feet and work. I would never call back present the nword. I wasnt raised that way. Whats unfathomable your saint he said it. But when you said that, he said the word. Yes. Unbelievable, the old board and the old executive team used black community, grace and media to steal the company and they stole it and destroyed it. You founded and built the company and your saint it was to get you out and take over . Yes. Infected. The only way you take papa johns or steel company, you get rid of me. The only way. Im the founder. The only way you get rid of me to play the race card. They played and played it to the health. So who did this . Did you know there was upset behind her back . I did not know. I felt something going on so i thought it was a hostile takeover from the outside. I didnt know again, unfathomable that folks on the inside would do this. I made them all multimillionaires and they pulled a stunt like this. Its unbelievable. Why would you use that word . , the culture because this is one issue which has been written about, toxic environment akhtar papa johns. Papa johns. Was there a feeling that i was okay to say that . No way. Not for a second. Barbara johns used the media to steal the company. He discovered it interest much more harder on ritchie and 15th in meat but that conduct would not have been acceptable. Papa johns was the number one place to work in kentucky for four heres. Yes, it was. Youve sold half of your possession. You still own part of it, are you going to sell the rest . Well, i have myself in a situation now where if the stock goes up, which is good, you never know. Warren buffett says he beat on the street with a tin cup if wall street was rational. If the stock goes down and crashes, then it really looks smart. I feel like i have it covered. More of my one on one with john when we come back. Stick with us. Their bearnaise sauce here is the best in town. [ soft piano music playing ] mm, uh, what do you do for fun . Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. He has pics of you on his phone. No, just a sec. What would it look like if we listened more . Could the right voice, the right set of words, bring us all just a little closer . Get us to open up . Even push us further . It could, if we took the time to listen. The most inspiring minds, the most compelling stories. Download audible and listen for a change. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums with tums smoothies. Walking a dog can add thousands walking this many . Day. That can be rough on pams feet, knees, and lower back. Thats why she wears dr. Scholls orthotics. They relieve pain and give her the comfort to move more so she can keep up with all of her best friends. Dr. Scholls. Born to move. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Welcome back. More with my one on one john. You had 35 to 40 your Marketing Budget with the nfl . Correct. Tell me what happened because you think it was part of the crew who took you out. I dont know how much he was a part of it. Papa johns was the number one sponsor. We had a situation where ratings were hurting nfl. They needed to fix the problems to the satisfaction and i said that. He didnt like that. He didnt like it because you questioned him on what he will do. I flap told him its bad leadership. A leader solves problems, is accountable. Its hurting all of us. He didnt like that. What happened then . He didnt react. Roger is friends with casey who owns a laundry service, they leaked the tape so its an interesting circle. Thats why i said part of the crew. I was the company you were on the phone with during the training when you said this is what sanders said. Correct. Tell me about the leadership of the company. Whats going on with Shaquille Oneal as well. Is the second largest shareholder behind me, he just hired a judgment, great pedigree. Always, great pedigree. Hes the new ceo. Hes never been a ceo, he doesnt know pizza delivery. One of the things that concerns me, nobody on that board knows the pizza business. That could be problematic. The jury is still out on jeff. If you look at his history, doubled the value. Most 380 million so jeff seems to do well when hes in, less than two years. He doesnt do well with longterm investments. If hes gotta play, a patent, a merger, he seems to do well in that direction. What concerns me the most is the words he sits on. Theyre all doing the worst and have done the worst. The jury is still out on jeff. I like his higher, mentor. We want to hold onto your stock . Or sell some . I will hold onto it for now but every day papa johns changes. Its moving quick so i will leave myself flexibly to get out sooner than later. You had discussions with wendys about partnership . We looked at wendys, my first job was wendys. Would you want a merger . If it increases shareholder values. If it made both companies better, its something to look at. You might have to take a hard look because look at your business, the stock prices. Its on 39 to 49 which is good but youre also coming off way down from the highs of 80 it. Whats wrong with the business . You have to have, you have to beat the best in your class in a model that works. Right now, its in bad shape. Its unhealthy. Must the store level managers make money, the system will fall apart. Do you think a partnership, merger and acquisition by wendys will fix things . No. I think sandwiches is way different than pizza. You said it does address cost, if it improves shareholder value, i would look at it. I would take a serious look. Ive looked at it, i would have to see the players and the deal itself and get comfortable with the transaction. The most important word is focus. I want to make sure if you have two or three concepts or maybe six, is it going to take away from your papa johns . How do you feel about the board today in the company . Are they putting you at a distance . Are they trying to get away and go a different way separate from you . Being founder, the namesake for the company, its john. You will never get away from that but im not sure its ever going to go away but anything i can do, whatever i can do to help the franchisees and employees, ill do for them. Thank you. Dont go anywhere. Whos dog is this . Its my special friend, antonio. His luxurious fur calms my nerves when im worried about moving into our new apartment. Why dont we just ask geico for help with renters insurance . I didnt know geico helps with renters insurance. Yeah, and we could save a bunch too. Antonio fetch computer antonio . Ill get it. Get to know geico and see how much you could save on renters insurance. Iits not acceptable or nothing. And its definitely not close enough or nothing. Mercedesbenz suvs were engineered with only one mission in mind. To be the best. In the category, in the industry. In the world. Lease the gla 250 suv for just 329 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Welcome back. They show next week, my special guest. We will talk about how he allocated capital today. This week, drink me on fox news 10 00 a. M. Eastern sunday. Personal attorney for President Trump rudy giuliani, my special guest. Characters live 10 00 a. M. Eastern on fox news. Start smart every weekday, mornings with maria right here on foxbusiness. Hope you will start the day with us every day on weekdays. Follow thiebook and twitter an instagram. Get the latest, i will post cool shot this weekend. Have a great weekend, everybody. Hello, welcome to the wall street journal. This week, new york city for this years new session of the general assembly. The biggest issues facing global agenda leading to climate change, Nuclear Weapons and many more topics. The president addressed the organization. The dangers of globalism and calling on countries tra