Transcripts For FBC Cavuto Coast To Coast 20240713

2. 3 billion trillion dollar stimulus package that is providing relief to Small Businesses. One of the biggest of that is 386 billion set aside to help Small Businesses with loans, checks, money that can be outright grants, Edward Lawrence has been following that because a lot of banks are handling the transactions, bank of america was up and running on this. He has the latest on all of th that. Reporter very interesting, Community Banks have led the charge on the spanking figure going forward, at 830 this morning, Steven Mnuchin has been on top of this to make sure. Look at the latest numbers, as of 1130, there was 2330 banks loans that have been given out for a total of 889 million that is direct stimulus into the u. S. Economy for the Small Businesses to keep people on pay checks and to give people pay checks and keep their lights on and pay the rent. On the jobs numbers, we expected was going to be bad but the number was really a surprise. Look at this a 4. 4 unemployment over all the job numbers were down, looking under the hood a little bit does not get a little bit better. Private sector lost 713,000 jobs in march, this is only measure, the first two weeks of march. So the job losses, where are the job losses now, you can see on the list places we expect light construction are down 29000 jobs, manufacturing is down, leisure and hospitality is brutal losing 459,000 jobs, education and healthcare lost 76000 jobs. Under the healthcare hood, doctors offices lost 12000 jobs, Dentist Office lost 70200 jobs, white house Economic Advisor larry kudlow say this is not going to be permanent. The steps that we have taken to mitigate the virus have interrupted a very strong business prosperity, varies strong jobs prosperity, the whole economy is suffering and i do not think it will get any better in the weeks immediately ahead. I do think however, this will prove to be temporary. Reporter there are some quirks in the numbers, you kind of scratch her head a little bit, the ism manufacturing numbers came in at 52. 5, anything over 50 is an expansion, look at this one, the average hourly wages rose 11 cents rising to 3. 1 over the past 12 months. This could be a testament to how strong the economy was coming into the shock for the coronavirus. Because wages were rising in the first two weeks of march. Neil Edward Lawrence thank you very much. Before i get to my next guest i want to update you on what companies are doing to help you out at home. At t is saying it is going to make a most 500 hours of premium content available for free on hbo and hbo go, no subscription will be required. You heard that netflix has expanded its offerings for those stuck at home and doing a lot of streaming. This continues a trend among some of the major movie studios and can get it to a lot more quickly. At t following that with premium content available even if you are not a subscriber to the services, we will keep you posted on that, keeping you posted on developments in new york, they are knocking better, they are getting scarier, something that Governor Cuomo was mentioning a short time ago. We will sign an executive order that says the state can take ventilators and ppe from institutions that do not need them now and redeploy them to other parts of the state and other hospitals that do need them. Those institutions will either get their ventilator back or they will be reimbursed and paid for their ventilator so they can buy a new ventilator. I cannot do anything more than that but im not going to be in a position where people are dying and we have several hundred ventilators in our own state. Neil now with us the former governor of the state of new york. Innkeeper taking the time. How do you think Governor Cuomo has been doing handling this. I have watched his press conferences and i think theyve been very informative and helpful to be honest. I think its a very positive thing that he is doing that. I am concerned about what is happening in new york and im a little stunned by his latest executive order. I understand that you dont want people hoarding and others dying because of that but my experience has been if you reach out to these institutions, tell them the dilemma in a Different Institution faces, and you have cooperation. But the governor knows more of the fact that i do at this point so im sure hes doing what hes confident is correct. Neil you handle things so well, i remember after 9 11 and the whole crisis and im wondering where the power of a governor stops in the prerogatives of the president begin or vice versa, the only reason i mention it is because the president has set this extended deadline everyone to stay sheltered in their homes through the end of this month, the end of april, april 30. Now some governors might decide we dont think we are ready for that. Who has jurisdiction in that event. I can tell you, we did not have the type of conflict as to whether it is your responsibility or mine after september 11 because i think the most important decision i made in my entire 12 years as governor was on september 11 when i decided to have the new York Command Center in the new York City Command Center in the same room. So the governor, myself under jt press conferences and then later on that same day september 11 fema came in, and sat in the same room for the weeks and months thereafter. So we had seamless coronation. The governor of new york and emergency has enormous emergency powers. They can do things like ordering sheltering in place. I dont believe the president has the authority nationwide as some stronger declaration a Health Emergency prebut it should not be required because when the president and his medical Officials Say you have to shelter in place for your own safety and the safety of the country, i would doubt that there would be a governor that said mr. President , sorry we will ignore your order. Neil conversely if the president says right now is good, the end of april we think we are okay and new york is the hardest hit of the states, in fact if we were a country would be the third hardest hit of the world. Having said that, the governor might feel that we arent ready or as much as he wants to reduce the economy or open up restaurant in theaters, i get that. But where do you draw the line with that kind of decision. Thats the beauty of our federal system. If the president says okay, you can reopen restaurant or go about your life, the governor does not have to abide by that. The governor can say that is a federal policy. But i have the power in the new york state or another state and i will continue to shelter in place order. Part of the beauty of the federal system. What is right for montana month from now probably will not be right for what is new york a month from now pray the governor has order to hel put the shelted place. Another thing that is lost, we have to put aside the partisan political bickering at this moment of crisis. These are things that should be broad consensus. When the president and his Health Experts say you have to shelter in place, i find it hard to believe that a political leader is going to say i will ignore you. Or if the president says we no longer need that, i find it hard to believe that the governor would not say okay, that is fine for the rest of the country but im going to do whats best for my country. So lets put aside the partisan political bickering while we go through this crisis. In the way that i phrase it, we have social distancing, but tell partisan political distancing. Try for a couple of weeks, do things that will help the people and help the country and not your political selfinterest. I think that would help us get through this wall. Neil the president has had republican governors who are not going with a lot of his suggestions, doesnt worry you . It does worry me. They had the authority to not go by his suggestion. But it does worry me because i think percussion prudence is by far the better course when we have this really not just emergency but catastrophe in a place like new york. You cannot look at the current statistics and say we are fine, you have to look at what could be a worse Case Scenario and protect the people from that and i would hope that governors, even if their states are not in such a bad situation at this point word proactively act for the People Safety and the safety of the country. Neil governor, good to catch up with you, i regret under the circumstances but i remember well how you guided the safe nation back then. Governor George Pataki thank you very much. Thank you neil great being with you. Neil be well yourself as well. We have a lot more including the 3m situation going on. They have gone from heroes to goats and a little bit more than 24 hours. The president was commending them for the efforts getting masks and everything to the public and lo and behold the president turning on them and finding a lot of the supplies are going abroad. 3m has come out to make very hard statements and return that is not what it appears to be, kind of the battle of glitz but Hillary Vaughn has the latest from washington, d. C. Reporter white house trade advisor Peter Navarro announcing the president will sign an order that will crackdown on brokers that he says are bidding up the prices and shipping out critical supplies from the u. S. To other countries, states are still struggling to get their hands on the critical medical gear, the n95 mask and one company 3m says they are shipping masks that are made in the u. S. To markets in latin america and swell canada and for the director of Emergency Management is asking for 3m to stop oversee sales until the u. S. Is stocked here. U. S. Companies are tell me the reason why our orders are being pushed down is because Foreign Countries are showing up with cash to purchase orders. And when i told 3m that, not only did they not disputed, and asked them if they put out any guidance to prevent the behavior and the answer was no. Reporter 3m ceo told Maria Bartiromo this morning that they cannot play god, they need the federal government to allocate resources to those with the most need. They said stopping experts to places like latin america and canada could trigger a humanitarian crisis there, 3m says they are working with the d. O. J. To actively stop price gouging from the distributors. We have not and would never raise prices and not sell to the highest bidder, we manufacture and resell them to authorized distributors and we sell directly to government and this tribute is take those to the customers that have the greatest need. We have been working with fema and the u. S. To make sure we are prioritizing with those with the greatest need. Reporter one problem, the u. S. Has not put in place any export controls on medical devices leaving the u. S. Like other countries have since marc. 54 countries have put in place export controls that would keep critical medical supplies within their own country but that could change in the u. S. Because one of Administration Source tells us that the administration is looking into a possible crackdown on companies here in the u. S. That are exporting medical supplies overseas temporarily. Neil you think about it, the 3m chairman makes a very good point, if youre going to forbid exports, what is to stop a lot of the countries from sending vital supplies to you, it could have some very unintended and serious consequences. Reporter thats what i heard from other medical Device Companies that i talk to. They say we source parts from all over the world, a lot of the better leaders have over 1500 parts which means if you put export controls here, they may have trouble getting the parts from the 14 other countries that they need to send them in that could have an unintended consequence of stalling the manufacturing of the could clean needed supplies like ventilators, like n95 mask. Neil well put. Hillary vaughn, a great report as always. We will keep track of this right now because just a day ago, 3m was looking like the saints and the saviors in the medical community and now this. It is a little weird, we are monitoring because the president can strong arm and has the power to strongarm them under the defense act that goes back to the korean war to make more of a lot of the nations interest but he mightve prematurely judged 3m on something it would voluntarily doing and over which it might not have direct control. We will monitor that very close. We are also monitoring a recommendation that could come down formally today that the whole facemask thing might not be a bad idea, it does not have to be a formal medical facemask but a suggestion to parts of the country would be welcome to where some sort of a phase covering and that would fly in the face of being a 180 from the recommendations we were getting a few days ago. I want to get to doctor who joined is now on this. And what she makes of this. Is it necessary, do you think that people should be going outside wearing a mask . Hi neil, this is been a question that has been asked since day one since a virus arrived in our country and the truth is, the robust literature shows the general population Wearing Masks and going on their normal daily life does not slow the spread of the viral illness. However, we continue to get new information regarding this virus every single day, it is extremely fluid and thats where the recommendations keep changing. What they are saying, this virus seems to be much more contagious than we originally thought, even with suggestion of air civilization, meaning the virus does not have to be contained within the respiratory droplets, it can actually be within the air. There is only antidotal evidence of that right now, we will not want know honestly for a little bit more but right now we will assume that it does aerosolized and that being said, we were going out to the grocery store, people are still going to the pharmacies and some people still out work. Sometimes it is hard to be 6 feet from other people when you have social interaction such as that. Especially think of the people at the grocery store, they are seen a lot of people there. At this point now that we have an increased evidence showing that this virus is even more contagious and especially when its asymptomatic which is people talking, they dont even have to be coughing or sneezing to spread the virus, just a matter of talking, the best thing at this point is to put on a mask, not the n95 respirators, those are not necessary. But anyway of protecting your mouth, protecting your nose, the surgical masks are just generic mask may work, if you dont have that consider wearing a scarf but heres my only caveat, if youre going to wear a scarf or something that youre going to reuse over and over again you need to make sure you watch every time, you dont want to take the side thats been touching your face and the next time you go out wrap it around the opposite way and what was exposed before is now on your face. What i really want to get into peoples minds, if you are going to wear a mask, that does not mean you stop socially distancing. The best way to protect you and your family from the viral infection is to stay as far as way from people as you can are now its only when you have to go out do you wear the mask. But continue to wash her hands and stay home if you can. Neil i know there is no way of knowing because its about the aggression of the virus. Everyone returning to normal at the end of the month . If it does business as usual, i hardly doubt that. I highly doubt that. I dont think that is going to happen hopefully in certain areas we will be able to start reopening as it comes to an end i hope. This will be a geographic, not just a onesizefitsall when it comes to the United States, with a diverse population. Although new york may be coming to our peak, theres other areas of the country who were still a few weeks out from their peak. Although areas of new york made be able to reopen at the end of this month, that does not mean areas of texas or the south because theyre still in the incline. I really hope by all of this continuing to adhere the social distancing measures, we may be able to start seeing some slow reopening at the end of the month and may the people will have to be smart about this, it will not just be something open, kinda what they were doing at the beginning where they were decreasing the max capacity in certain restaurants and businesses, maybe they do that, maybe there will still be a recommendation for Wearing Masks, i do not know, i hope we can get there and i am optimistic that we will get there hopefully in may we will start to see things reopening. Neil we shall see. Thank you very, very much. To the doctors point, the official goal is to slow down the whole stay at home or at least lighten it a little bit by the end of this month. But it would be sporadic because some states are still in the middle of dealing with us and others are on the cusp of dealing with something worse. We have six avenue midtown manhattan our fox headquarters is a ghost town and has been for a few weeks. Will that magically be allowed to change at the end of this month so everyone can get back and do their thing. They are still in the middle of the thing. Who knows. More after this. Neil one thing that they already have done is he has spoken a number of times with the leaders in saudi arabia and russia. He has since told them to stop polluting and throwing oil on the market that is already vastly supplied by oil in relation to the collapse in demand. Neil larry kudlow talking about the president urging saudi arabia and russia to bury the hatchet, move on, address the problem that they created, we have this and we wouldve heard them a lot more than the rest of the world everyone is feeling it. Oil prices continue to rise as they did yesterday, better than 20 of barrel of oil, a little under 27 bucks but the fact of the matter is, we are going on rumor that the two countries have agreed to pay the production by 10 Million Barrels a day. We will see if that is the case and if we see on oil prices, the futures market is not withstanding, the report and founder and editor, excellent read of energy. Steve, first of all i have not heard either country that saudi arabia or russia confirming these 10 Million Barrels a day figure that the president has been using. I believe in his remarks, the president even said he could do 50 Million Barrels a day. I need your guidance here. What do you think it is. Absolutely, we are just talking about words, we know we will lose 26 billion barrels of demand, if youre going to start a rumor, start a rumor that will extinguish the demand that we are going to see. Even to be as high as 50 million a day, that will lead the supply overhang of 11 million a day. So the market is rallying, but all it is as hot air and they are cleared to move the oil markets lower as demand continues to fall as we get into the summer months. Neil it turns out that they dont do what the president thinks they will do. Lets say they dont even bother to cut production at all. Then what. Lets go back, the United States with the price were between saudi arabia and russia, lets not forget at the end of february the triple administration sanctioned russias Largest Oil Company in trading, thereby making it harder for russia oil to hit the export market. At the same time United States is producing crude oil like a banshee and yearoveryear production is up at a 10 record high, the triple Administration Want saudi arabia to want the russians to cut production, what about the United States. Here we go, saudi arabia and russia are not going to cut production until the United States takes in its fair share of production. Again all this is talk, we will need to see a material pullback in u. S. Production for saudi and russia to join the party at this point. Without that we will continue to put more on the market, we are running out of spare storage capacity, are estimates at the short group, by the fourth of july it will not be a single state available to store extra crude oil so we already know demand has fallen, the United States is in a depression. Not a recession, we are in a Great Depression redux. Not just for us around the globe so when you have access production on the market, we dont have anywhere to store it and you dont have any demand for, it is going to weigh on the stock market and it clears lower in retailers dont think the potential of singledigit wdi is a real probability. Neil holy cow. You have been pressing on almost every energy turn. You make us think and worry. Thank you very, very much. The short report, is founder and editor, we have to get on the same page or we are getting word from walt disney, the shares are down an additional 3. 3 . You mightve heard early on today that it was looking to for low so more employees in the u. S. I dont know any workers in the u. S. But i know worldwide has in excess of 230,000. But the stock is taking on down a three and a third . A little more than six weeks ago it was trading at north of 142 a share. Now were around 90. Stay with us you are watching fox business. Life isnt a straight line. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. A partner who makes sure every step is clear, as a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. As we work to get through these times together. You may not be thinking about blood donation, but blood is desperately needed now to save lives of people who are sick with a range of serious illnesses. Its easy, and safe to give. If you are in good Health Please donate, we need heroes now. Visit redcrossblood. Org to schedule an appointment. Neil we have been getting into this with our guest, we were down about a quarter of a point on the dow, the battle to say when this will be over, a lot of people are sheltered and want to unsheltered or at least think of when they can do that. The president is saying we will give this idea of staying in our homes or at least trying to until the end of april. But already the World Health Organization is warning that if countries lift restrictions too soon, the economic impact, i am quoting here, it could be even more severe and more prolonged. Again, there is a battle that is gone back and forth that mightve started with germany that is noting the rate of increase of german cases has begun to slow. It is not reversed but the increase has began to slow and the World Health Organization is saying developments like that are not enough to say all right, it will be mitigating measures can stop now or slow now. This seems to be a World Health Organization in a way of saying cool it, keep track of them very closely. Also keeping track of the ongoing fight to deal with this virus, General Motors among many turning factories into fighting machines on the virus. Grady tribble following the closing in chicago. Reporter they have been rushing to convert their kokomo indiana plant to make ventilators, something theyve never done before but they have been training about 1000 workers and repurposing the facility in the last few weeks. They helped our prototypes ready to go by the middle of next week. They hope to be masked producing lifesaving machines by mid april and they will scale up to about 1000 of them, this is video that you see of the employees receiving training and they also have new Safety Measures in place at the facility. As soon as employees giddens, the healt answer health questiod get their temperature taken, they also had to wear masks once or on the factory floor and keep social distancing once they are there as well. This is providing with a preview of what the new normal of postpandemic production will look like. So the uaw was concerned when they were working what safety precautions gm has taking but they totally change things prethese precautions they are using and kokomo will apply to all the facilities once they do start making cars again whether that is in a few weeks or a few months. Two weeks ago we did not understand how this virus propagates and how it can infect people. So there was a lot of unrest. Frankly we did not have this protocol in place. We absolutely did not. We did not have the screening, we did not even have the selfselection, the rules or the questions to ask yourself. It is vastly different. Reporter General Motors of course had to close factories in asia as well, those will reopen, they are going to copy and paste what they learned with those factories and use them in the u. S. Factories once they reopen whenever that may be. Theres also interestingly working with their rivals, ford and Fiat Chrysler in detroit to share safety protocols and when they open they can put workers concerns at ease and make sure its the safest place possible. Neil grady, thank you very, very much my friend. We are also focusing on whats going on and for to predict the Fort Lauderdale for calls cruise ships and the like with at least a dozen cases of a covid19 virus on board. Right now we have the mayor of Fort Lauderdale who is kind enough to join us on the phone. Mayor how are you doing. Im doing great, thank you for inviting me today. Neil what do we know this ship and how you will handle it and how the state is handling appeared can you update us. When the first two ships, the rotterdam and zaandam were coming to a city, it concerned us because there was no protocol to how to see these passengers, was our impression that the Cruise Ship Company was going to allow them to just park and it was very little attention being made to the communities that i represent was going to be safeguarded against any possible spread of the disease. So a lot of work took place during the time it left the panama canal and yesterday in order to allow these folks to be able to step off the ship. I was certainly not going to let that happen until we knew that there were enough precautions to make sure that new people would not be infected by those that were disembarking. So we have now allowed most of the passengers to step off the ships, they are all on charter buses or flights around the world, completely isolated from the rest of the community. As you know theres another ship heading our way called the princess, the carnival princess and that too presents itself with challenges. But we are not going to let it impede our relationship with the Cruise Ship Companies because i think if we follow the same protocol our community will now be protected from any possible infection. Neil how do you know, i know that was your initial concern, besides those cases, those on board that ship that have covid19, there are others that have been in contact with and certainly earlier in the cruise might not be showing any symptoms right now, how do you decide who gets off the ship and who does not. So we came up with a multilayer protocol. All the passengers were in quarantines since march 22. They were relegated to the rooms, they were not allowed to leave. We know since march 22 that the passengers were quarantines and not interacting with each other. So we are about 12 days they were quarantined in those folks the still showed no symptoms, those folks were allowed to disembark and they were escorted by special buses directly to the tarmac at our airport, not going to the terminal, not going through regular customs, just going directly to the tarmac in various private jets were being assigned to different passengers. Several going to europe, several going to places in the United States, those living in florida will be given a driver and a van and taken him directly, no contact with anybody on shore. So these special protocols are very important. Those that were sick, those that had very severe illness as a result of either a flute or covid19, there was about 14 of them. Ten stayed in our hospitals and for were sent to miamidade hospitals for treatment. Then there were about 45 who exhibited symptoms but were not that bad. Those people are staying on the ship until they show no symptoms for at least 72 hours in that ship will stay offshore until the folks get better. So you can see there was a lot of thought and planning, a lot of decisionmaking that had to be made but in the end, i think the folks on the ground had been protected in the folks on the ship can finally get home to their families. Neil thank you very, very much. Im sure when you became mary you do not envision this but youre handling it coolly and calmly and we wish you well. Hang in there. Thank you very, very much. Just a couple of updates i want to give you. Apparently Vladimir Putin is speaking to the press right now and confirming many of the things that the president had said, Vladimir Putin confirming with authorities, i did speak to trump, we are all worried about the same situation. He said that we want joint access to the oil market in the short time ago that would possibly include the United States. He says we are ready for action with the United States on the oil market. Remember they have told us as well to curtail production to improve demand and all of that. He did confirm that the 10 million of oil a day that would be taken off the market, he did not say if that was exclusively coming from the saudis in themselves, the russians or whether that would include the United States but he is confirming a lot of the numbers but the hope is to get 10 Million Barrels a day and also the price of oil, the price of oil is going up but the price of stocks, not so much. Stay with us. When we started our business we were paying an arm and a leg for postage. I remember setting up shipstation. One or two clicks and everything was up and running. I was printing out labels and saving money. Shipstation saves us so much time. It makes it really easy and seamless. Pick an order, print everything you need, slap the label onto the box, and its ready to go. Our costs for shipping were cut in half. Just like that. Shipstation. The 1 choice of online sellers. Go to shipstation. Com tv and get 2 months free. Neil new yorks Governor Andrew Cuomo is confirming the highest number of deaths in a single day through the whole saga in the empire state, more than 560 individuals dying from this virus, it is not improving there, we are already at the point right now, the total number of deaths getting very, very close to 3000 with better than 100,000 cases reported throughout the state. We will keep you posted on that and the fact that we have far better than a million cases globally in the number of those dying has increased in key areas and countries, we are monitoring. Hence the argument that you heard from the World Health Organization, dont rush anyone getting back to work anytime soon or talk about it because you can make a bad situation worse. We will keep you posted on that, also keep you posted on the stimulus making its way to individuals, particular Small Businesses but not without a few bumps along the way. Charlie gasparino is following all of that. It would be too critical, its hard to handout 350 billion on a moments notice. But heres what we do know, we know that a number of banks are not administering to programs by today even though we were told by secretary mnuchin that they should be up and ready by today to do the 350 billion stimulus program, these are bridge loans to Small Businesses. J. P. Morgan chase, the nations largest bank is one of the banks that has essentially delayed the implementation of the program. The online portal is done but not ready for use because they want to make sure that they get through all the kinks. One of the problem i think j. P. Morgan faces throughout the banking business, they will get a rush of applications, they want to make sure the portal can handle the applications and the last thing that they need is to be sued, some monday morning quarterback and as what happened in 2009 when the feds, after they forced j. P. Morgan to buy their intake of risky actions started suing j. P. Morgan and j. P. Morgan had to pay settlements for following the feds directive and buying the banks. They want to make sure and following the directives this time that they have all their eyes darted, tees crossed so at least a j. P. Morgan from what i understand this portal and the Small Business loans can be ready as late as monday. Like i said, they have the system mainly together but dotting the is and crossing the ts. You should contrast that with bank of america, they are open today. They are trying to make loans, but as i said it is mass confusion out there for bankamerica customers. I will just say this, this is antidotal but im getting emails from bank of america customers and they are essentially saying that bank of america is getting flooded with loan applications, no doubt. But they are doing a triage. It is very interesting, one Small Business owner said he had an online line of credit with the bank of america, he is a bank of America Client but because he does not have a bank of america credit card they d prioritized him. He cannot get his loan process today. He needed according to his bankrupt, a credit card. They are playing triage as to what clients can get the loan applications process with their Small Business loan and its causing a lot of headaches among Small Business people. Theyre very angry bunch at bank of america. It is a tale of two banks, j. P. Morgan wanted to get so, make sure they get everything right, bank of america ran right into the said first and they are having problems and getting complaint from their customers. Again, dont want to be too much monday morning quarterbacking, its really hard to implement a program like this that was done very quickly and legislation happen quickly, you need guidelines from the feds, yet templeman the guidelines but you cannot downplay the fact that it is a mess for the Small Business loans as part of the virus stimulus package. Back to you. Neil i dont know the process or how it goes by great reporting as always. And to charlies point, this is what happens, its a big package of 2. 3 trillion package, the Small Business is about three to 60, 370 billion. It is expected to have bumps along the way. These numbers are so gargantuan, just organizing them and who gets what and how you sorted out when all the banks are on the same page to say nothing within their branches how they are handling it. It is a mess but you will get through. Stay with us. You wouldnt accept an incomplete job from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. To help you stay informed whicjust say coronavirus into your xfinity voice remote to access Important Information and special reports from around the world. And to keep your kids learning at home, say education to discover learning collections for all ages from our partners at common sense media, curiosity stream, history vault, reading corner and many others. For more information on how you can stay connected, visit xfinity. Com prepare. Neil on the frontline helping healthcare workers, a lot of people can say the right things but do they do all the right things to help the workers. In new york they are doing just that, alex hogan with what they are doing to help out. Reporter a lot of the medical workers are feeling overwhelmed but theres a contrast for the people at home who say they feel restless and some people are doing exactly just that, trying to support those who are on the front lines. In new york city patrick long and Connor Delaney started sending food to one of their girlfriends and her coworkers at an nyu hospital well since then operation food fight will deliver three deliveries of whatever meal they want at the best time. The group is raise more than 12000 through gofundme and venmo and that is to serve all new york area hospitals. Its a time where you say what you want about social media, it has its downsides but for now it is a great tool to help us all stay in the loop and stay connected. Were sitting around going stir crazy or feel anxious or uncertain, this is a way to preoccupy yourself with something positive. Reporter on Long Island Group already raising more than 20000. Their Organization Feeds up to 200 People Per Day and that includes emt in emergency fire workers, the grab and go meals means everything is cut up small or separated but that means workers do not have enough time to eat and they can only do so while rushing to the next task. In new jersey two friends started flag which stands for the frontline appreciation Group Already raising more than 97000. We were able to provide over 3500 meals and put 20000 into our local restaurants. Reporter all of these founders say this is not just about food, it is about the support. Neil thank you very, very much. Alex hogan on all of that. My next guest, were getting more details right now from the International Monetary Fund Conference that is going on. This is the biggies of all of the financial global community. In this press session that is happening right now, they outlined the Global Financial crisis that this has triggered is worst then we went through during the meltdown, this has triggered something that has gone far worse than that and never in the history of the imf according right now, the managing director of the imf, how we witness the World Economy come to a standstill, she went on to say its worse than the Global Financial crisis going on to say that optimistically they will and we will all get through this, its a crisis like no other but we should not take it lightly. We will have a lot more on that. Stay with us. This piece is talking to me. Yeah . So what do you see . I see an unbelievable opportunity. I see bestinclass platforms and education. I see awardwinning service, and a trade desk full of experts, available to answer your toughest questions. And i see it with zero commissions on online trades. I like what youre seeing. Its beautiful, isnt it . Yeah. Td ameritrade now offers zero commissions on online trades. Neil all right. We are now getting word, this is coming from the wall street journal right now, the dow is down about 402 points, its trying to get a plan going to use a federal stimulus package to pay hospitals, quoting from the journal that treat uninsured people with the new coronavirus, as long as they agreed not to bill the patients or issue unexpected charges. The journal points out the plan, which could be released later today, comes as the white house is facing mounting criticism for not launching a special Enrollment Period for people seeking coverage under the Affordable Care act. But again, this would be a way of protecting those who cannot pay the bills or would be predisposed to not making good on payments for coronavirus treatment. The administration plans to pay hospitals to treat those patients and that would be, i think, if m gim getting this correct, from a new stimulus measure, not the three that are already out there. News like that probably cant come a moment too soon for cities and states that are dealing with this and reporting cases that are running staggeringly high. In new york, for example, the number of new deaths reported in the most recent day has eclipsed those of all prior days so its going up, not down. The rate of increase is exceeding, not retreating. David lee miller with the latest on all that. Reporter neil, new york city has now seen the greatest single increase in the number of cases in one day. There are now nearly 100,000 people testing positive in new york state and among those on the front line in this battle, Health Care Workers here at mt. Sinai hospital. Earlier today, those workers and others from around the city held a rally to draw attention to conditions that they say endanger patients as well as staff. Hours before the scheduled protest took place, they say the hospital agreed to some of their longstanding demands but they added it was simply too little, too late. Among the things promised, ppe, including masks. They have now stated we will get our n95s. We demand it for staff who are sick to be tested because that was never done. We had asymptomatic nurses and doctors who would come into work because there was no tests available for them. Now we are being told testing for all employees will be available but thats still pending. Reporter thats an all too familiar sound we hear in new york city, so many ambulances, so many people being transported to hospitals. Hospitals are at or approaching capacity. The same can be said for the city morgue. The chief medical examiner says refrigeration trucks are being used as an expanded place to store bodies throughout the entire city. New york mayor bill deblasio is surging new yorkers who reduce spread of the virus by wearing a scarf, bandanna or homemade mask across their face. The mayor asking people not to wear surgical masks which are badly needed by Health Care Workers. Governor andrew cuomo is issuing an executive order for the state to take physical possession of all unused ventilators in new york state. The National Guard is going to redistribute the ventilators, the governor says the owners of the ventilators will have them returned when the crisis is over or the state will pay the full cost for the ventilators. Thats the latest. Back to you. Neil all right, david lee miller, thank you very, very much. For those of you who are looking at your screen and see the dow down better than 400 points, the catalyst for that was the worse than expected jobs news we got from the latest month. 701,000 people entered the unemployment line. The Unemployment Rate itself zoomed up to 4. 4 . That is the highest we have seen since august of 2017. It is also the biggest jump we have seen in close to 20 years. All this at a time when the administration is now working on a stimulus measure that goes beyond the three that we have already had in place but its the one thats part of the most recent one, the 2. 3 trillion stimulus measure, a big chunk of which goes to Small Business, on which many are placing their hopes for a turnaround from this or a mitigating factor for this. Lauren simonetti following all of that. Lauren hey, neil. Would you like me to do a report on the Small Business loans right now . Im sorry. I thought i was part of the panel. Tell me what you want me to talk about. Neil first on the Small Business part of that, lauren. This is meant to address that awful employment report. What are you hearing . Lauren okay. So today, the Small Business administration, part of the stimulus plan was open to the banks and a lot of banks were saying we want to help these Small Businesses, there are millions of them in the country, the backbone of our economy, but there are so many question marks we have about actually getting people the money that they need. We dont understand all the rules and regulations here. But they have started to dole out the money that is good, because when you look at the numbers that you saw for the payroll report in march, which you just said, it only scratches the surface. It was so much worse than expected. We saw a loss of more than 700,000 jobs so the losses that were seeing are wiping out basically an entire decade of gains. These numbers are going to get so bad. If you look at the march payroll report, the first half of the month was only included so i was pulling some of the dates in new york city, ground zero for the number of coronavirus cases. New york city closed officially all restaurants and bars on the 15th of march. In las vegas, they closed the casinos on the 18th of march. So those dates came after the period ended for calculating the data and still, we lost 700,000 jobs in march. So its going to get a lot uglier. I think what a lot of people want to know is how long does this last and the answer is its unknown and it is unknowable at this point. Everybodys looking for the end date because we know its going to be hard. Going back to the loans that these Small Businesses need, thats why you need to get them this money as fast as you can. Bank of america, the first big bank to tap that money to start giving it out, 875 million processed in Small Business relief loans thus far. That program up and running today. Neil very fast on your feet, young lady. Thank you very, very much. Lauren simonetti, we threw that at her and away she went. I want to go to ed lawrence on this. We were talking about the sheer size of this package, from the Small Business administration, 360 billion to 380 billion. You are going to have bumps along the way but the money is getting out there. Whats the latest youre hearing . Reporter yeah, almost 1 billion. What isnt being talked about here is this loan program is retroactive back to february 15th. That means that that money you see on the screen, 889 million, could be used for Small Businesses to rehire some of the folks they have already let go. Those rehirings would come from that 701,000 figure we had on the jobs report here. That could mitigate a little bit of this jobs report depending on how much of that money there you saw on the screen will go actually to paying the payroll of those back wages back to the 15th. This is direct money going straight into the economy through Small Businesses and as we know, Small Businesses are the backbone of this economy with the employees that they have. Neil . Neil ed, just to check again, they have that feature, right, if they get this money or get a loan and they end up keeping their workers or commit to keeping their workers, that loan essentially becomes a grant, right . Reporter exactly. This is how it works. You can use it to pay your average monthly salary payroll, you can use it for rent, for utilities, also you can use it for mortgages or a lease. Now, if a Small Business does not spend or does not reduce the payroll by more than 25 , then it could be forgiven as basically a grant. It could be a forgivable loan is how they are doing it. You just have to make sure you dont reach the 25 threshold on the average monthly salary for the entire 2019. Thats what they are basing it off of. Neil all right. Edward lawrence, thank you very, very much. I want to go to blake burman right now. We know the president will be meeting with oil industry executives, seven or eight of them, at the white house later on today. We know as well that Vladimir Putin has confirmed i guess some of the numbers the president was talking about, reducing supply in the market by 10 Million Barrels a day. The one thing i got from Vladimir Putin, maybe this is just me seizing on it, is that he called on the United States to be part of that. It sounds like the saudis, russians and also working with the United States to curtail supply. What do we know about this . Reporter sounds like a little bit of tit for tat negotiation when you talk about russia, saudi arabia, the United States. The president has said he has spoken with Vladimir Putin and Mohammed Bin Salman in the recent days leading into this meeting at the white house this afternoon, it will be the president , Vice President , members of the administration and several of the biggest players in the oil and energy field. Just to give you a little bit of example of whos expected to be in the room, the heads of exxon, chevron, occidental petroleum, industry representatives, too, just to give you a few. There of course has been a lot of focus on this saudi arabia russia standoff and what that has done to oil prices. You talk about the comments made from Vladimir Putin as well. But thats only half of the story or part of the story, however you want to divvy it up. There has also been back here in the u. S. This cratering of demand for oil and for gas, because of everything thats been going on. I can tell you a conversation that i was having earlier today, that was brought up to me at the very beginning. Yes, theres saudi arabia, russia and that whole dynamic but back here in the u. S. , the demand is simply just not there. Its part as well of what larry kudlow told Stuart Varney earlier today when he was teeing up this 3 00 meeting at the white house later this afternoon. Watch. Well, look, in terms of the pandemic and the collapse in demand, theres nothing we can do right away. There may be some issues, smaller items that im going to leave on the table for that meeting. Reporter leave on the table for that meeting. However, i am told that if the issue of potentially putting tariffs on oil imported from saudi arabia, if that is talked about, im told there would be a lot of pushback in that room. For example, the heads of the American Petroleum institute and american fuel and Petroleum Manufacturers wrote President Trump earlier this week and this is what they said. They told the president quote, imposing supply constraints such as quote tariffs or bans on Foreign Crude Oil would exacerbate this already difficult situation, jeopardize the shortterm and longterm competitiveness of our refining sector worldwide and could jeopardize the benefits americans experience as a result of our increasing energy dominance. The feeling that i got this morning was that some of these players would like the Market Conditions stateside to play themselves out. You have seen the pop in oil prices in the recent days. They feel if there would be some sort of tariffs or quotas it would be a kneejerk reaction in the short term compared to the long game here that no matter what industry you are in, most are seemingly playing. Neil . Neil blake, thank you very, very much. Again, as blake said, oil prices have jumped over the last couple of days. With todays roughly 4. 5 runup today, yesterdays runup on crude oil now fetching a little more than 27 a barrel, that has lifted key components within the dow, without whom we would be down a lot more than the 369 points we are. But again, whats interesting about this, as they get together and agree on this idea that maybe 10 Million Barrels of oil taken off the market a day might include the United States as well, not just saudi arabia and russia. Its hard to tell. Gary kaltbaum is here, Eddie Ghabour is here. Gary, what do you think of that, if we are part of this, the administration might welcome it because there is a lot of oil on the market. What do you think some . Look, the big thing right now with oil is its not just price, its that in the last week, widening petroleum bankruptcy. I have a bunch of Oil Stocks Trading at a quarter right now. Thats been affecting bond markets and junk bond markets also. It is incumbent upon them to figure this out, get prices up, get these companies at least not losing money and maybe that helps the markets out a little bit going forward. Sooner rather than later would be a good thing right now. Neil you know, eddie, however it parses out, whether its just the saudis or russians or we kick in a little bit, and it doesnt do the trick, a global depression is going on and everybody hopes its shortlived, it doesnt really do the magic for oil prices, then it really doesnt. The biggest problem, to your point, is demand. The demand is not going to increase until our economies start back up again. The scary part shortterm is no one knows the answer to that. If this shutdown carries into the summer months, it really doesnt matter shortterm what happens because you will see a lot of consolidation in the space because these Companies Just cant hang on at these low oil prices. Neil so play that out for me. If you are looking at that and this drags on longer, what are you forecasting . So i think right now, economically, in regards to the stock market itself, we are telling our clients to be very cautious. I think it would be crazy to jump in with both feet and try to predict a bottom right here, because the Economic Data is going to get worse and because we dont know when the economys going to open up. Again, we are naive to think theres not going to be a lot of collateral damage. Heres the other Million Dollar question. When we do open back up, are peoples behavior going to change . Are they going to jump back in with both feet as they go to restaurants and entertainment parks . Right now you need to be very cautious as an investor. Folks that have raised cash, we have been advising folks to kind of look at it in five blocks of purchasing and dollar cost averaging because we think theres a good likelihood we test the bottom we saw two mondays ago. Neil wow. We will see what happens. Gentlemen, thank you. I apologize for the truncated time. Again, this is a view you hear from a lot of people. We will come back and we always do. As for whether we aggressively snap back or have this u or vtype curve back, that is probably not in the offing the way things stand right now. But things can change. We shall see. In the meantime, the latest on that uss Theodore Roosevelt commander relieved of his job by the acting navy secretary. The message that its sending, and some of the critics that its igniting. After this. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Neil all right. The Commanding Officer of the side lined Aircraft Carrier Theodore Roosevelt had a number of sickened sailors on board, better than 100, and he wanted and sent an implored his higherups to let thousands of other men and women on his ship off. He was relieved of his duties by the acting navy secretary, thomas modly. I want to get reaction to all of this from the former uss cole commander. You know, the captain is being secondguessed that he was maybe overwhelmed, that the signal he was sending was too alarming. I dont know what was behind his ultimate reassignment, but it bothered a lot of people. Does it bother you . Well, first, my thoughts and prayers are with those sailors that have been diagnosed with covid19 and hopefully they will all recover and that their families will also get through this. But secondly, i cant tell you how much this breaks my heart in that once again i find myself on your show talking about literally a leadership train wreck in slow motion. I have no doubt that this Commanding Officer did absolutely the right thing in looking out for first, his crew and his ship. I think that when you lo at it, there was a one star admiral, admiral baker, maybe two star, on board that Aircraft Carrier who is what they call the senior officer presently afloat. Theres no doubt he approached him as well as seventh fleet in the Pacific Fleet commander to try and get things done and although the acting secretary said all things were in motion, i seriously doubt that the navy understood the urgency and the impact of what was happening on that ship even though the captain was conveying it. So he had an absolute right even under Navy Regulations to go jump the chain of command and bring it to the attention of higherups and the result is no accountability by the admirals, but absolute accountability shoved all the way down to the captain. Neil you were facing more than 100 men or women that have the virus, he has thousands of others on this huge Aircraft Carrier, so he wanted to get the others off the ship. Much as a cruise line wants to get those infected to immediate aid and help and those who are not affected yet off the ship or put elsewhere. Whats the difference . Well, huge difference. A cruise ship, youve got a lot of distance between the cabins, between the people. When you are talking about a combatant, a destroyer, cruiser or Aircraft Carrier, people are literally packed in close. There is no such thing as social distancing on these. You stand in line, you are literally inches away from the person in front of you in the mess line to get fed. You are inches away from people when you are down in the berthing compartment. There is no such thing as being able to get away from each other. The spread of that virus literally could be explosive in the tight quarters like that. The captain recognized that. While things may have been in motion, they werent moving with the speed that he felt they needed to. Consequently, we now have a National Asset sidelined that was out there, albeit in peacetime, but it was safeguarding u. S. National security interests in the south china sea, where we are now seeing an aggressive china once again pushing forward. So he was attempting to do the right thing to minimize the loss of personnel to keep that ship operational and ready so it could get back to sea, and the Navy Leadership quite frankly failed him in this regard. Neil not the guys on that boat, to your point, commander, one facebook account has hundreds of Service Members on the deck of the Theodore Roosevelt saying goodbye to him in guam, the captain, saying captain crozier, captain crozier and clapping and celebrating his name. They clearly feel badly for him. Im wondering where he goes now. Well, essentially his career is over. He will be assigned to an administrative command. There will be an investigation into how this whole thing came about. At the end of the day he will be forced to retire. Hopefully the secretary of the navy or acting secretary modly will allow him to retire as a captain. There is always the possibility he could reduce him in rank. At the end of the day what i find disturbing in all of this is you had an admiral on board that ship who had a responsibility to know whats going on and failed. You had a seventh fleet commander once again, here we are talking about seventh fleet like the collisions with the fitzgerald and john sshgs. Mccain. What were they doing getting the captain what he needed to safeguard his ship and crew . These are the things you look at it, once again, no accountability at the admiral level but certainly accountability all the way down to the captain. You always have accountability as the captain. I know that. But theres a fundamental difference between accountability and blame. What they are doing in this case, they are trying to blame the captain for the fact that the navy was embarrassed by the fact they werent doing things quick enough to safeguard lives on the ship during peacetime operations. Neil to your point, we should point out again, about eight cases of the virus that quickly mushroomed into a couple dozen, then over a hundred. Sounds to me the captain says i got to get a handle on this or everyone on this ship is going to get this. Something doesnt smell right, to your point. Thank you, commander. I appreciate it very much. Kirk lippold, who has dealt with his share of controversy and higherups making his tough job even tougher. I should let you know, the commander and i were chatting, to show you how alarming this coronavirus situation is getting, the pentagon is already looking at the Javits Center in new york to start receiving covid19 patients and the same in new orleans and dallas at Convention Centers that are now being retrofitted to deal with coronavirus patients. More after this. Neil all right. Amazon, the latest company to say it is delaying things because of the ongoing coronavirus. A lot of attention being made to its prime day that could be put off until at least august. We are showing you, you know, 401 k s and whats going on on that front. Companies that arent laying off are at least considering right now delaying contributions, matching contributions to folks Pension Plans at their companies. Not all of them, not even a lot of them just yet, but many considering it. Chris hogan joins us now on this, the everyday millionaires megaselling author. When i see these kind of developments, its a lot better than announcing job layoffs, delaying company matches on your 401 k , but it is a reminder that thats among the Things Companies can and likely will do, right . You are absolutely right. This is being fiscally responsible. What companies are doing by looking at scaling back and stopping the employee match is they are trying to save paychecks, trying to minimize layoffs and service interrupt n interruptions so this is a smart move and we have seen this before. You remember back in 08 where you had 20 of companies that had 1,000 or more employees did the same thing. They scaled back on the employee match. Talking about General Motors and ups. But heres the deal. Within 12 months, these companies had those matching funds back. So i think this is a reminder for us, as i have been telling people to go into conserve mode right now. If your income has been impacted or your hours have dropped, you have to conserve your resources right now. No unnecessary spending. So this is the business worlds way of conserving as well. It would be much better to stop the match and preserve the paychecks and the jobs for the hardworking men and women out there. Neil what do you say to people who say my companys not going to match me, im not going to bother with my 401 k . Well, i would tell them this. If your income is stable and you are okay and you havent been impacted, i want you to stay the course. Continue. I tell people to invest 15 of your Household Income toward retirement. If the match has stopped, heres the good news. I have been telling people for years dont count the employee match as you saved 15 . So what you can do is if your income is stable, keep investing. If your income has been impacted, you are going to lo at pausing investing for a little while until your income stabilizes. Neil another benefit, whether or not the company matches you, these are taxfree savings for the time being so there is that. Right . You are absolutely right. The reality is if you stop investing, you could have a taxable impact to your income, to your taxable income. Remember, the 401 k is pretax. So thats going in and you have that deduction, but you will pay taxes on the money later when you withdraw it. The most important thing is right now, with this pandemic, we have to keep our eyes wide open and take care of business right now. We are all in this thing together. We are going to get our hands around this virus. We are going to get this contained. But no one has a crystal ball to know when. So its in our best interests to remain focused and clear not only on where we are, but where we want to go. Neil well put. Chris hogan, always good seeing you. Thank you very, very much. The voice of financial reason at times like these. So is deirdre bolton. She has been following a move here that a lot of people missed. That was mortgage relief. New york Governor Cuomo saying do we have her, guys . We do not. All right. I apologize for that. You know when you are doing these shows remotely, anything can happen and usually on my shows, do. All right. So we have a lot more on that. We will also talk to this m. I. T. Researcher who says the six feet thing should maybe be more like 27 feet. Fascinating woman. She just looks at numbers, statistics and models that show something that maybe a lot of Health Experts miss. After this. Boston light, americas oldest lighthouse, has stood strong through every dark hour and bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. Helping you weather storms like this one, there are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Neil all right. So how is this stay at home thing going for you . The mayor of floridas most pop populous cities joins us right now on the phone. Mayor, very good to have you. Thank you for taking the time. What made you youre not on the phone. I can see. What made you do this when you did it . I started taking this very seriously in late february. In fact, it was three or four woks ago th weeks ago that i shut down all concert venues that had anything to do with a city facility. Couple weeks ago i shut our beaches down. Over a week ago, i mandated through an executive order that all employees job duties that could be performed from home, be performed from home. This was really the last step in making people take it very seriously that we should not be moving around when we dont have to, that this virus doesnt spread itself, people spread it, and we need to be at home when we can and be practicing social distancing. Neil so what would convince you, say the end of this month, thats sort of the target the president has set to continue the stay at Home National urge ri, you have obviously done it in your city and now its the rule in all of florida, would it be enough if the increase in cases is declining even though they havent stopped increasing . Look, we are obviously listening to what the president appe and governor are doing in terms of how they prepare how we come out of this but my daily conversations are with physicians and leaders of our hospitals, understanding their bed availability, understanding the positives that are coming back and thats, you know, when we issue these orders, they are really based on data, then you have to make a judgment call as a leader. Im going to continue listening to those experts. If there is some good news for us, if you lo at the perceok at of people that are testing positive in my city and county, its just below 7 which is the lowest of any major metropolitan area in the state. Too early to know if this is the reason why, but we believe its because, maybe because we started practicing social distancing and pulling things back a month ago. Neil so when you instituted this, it would take a lot for you to reverse this, right . I get from what youre saying, just slowing the increase in cases isnt going, at least on paper, to be enough. Thats right. You know, about a month ago when i was reading papers on this and watching frankly some videos of experts, Health Care Professionals that have been through crisis before, one thing that stood out to me is, you know, perfection is the enemy of good. In crisis situations, speed matters. You have to act. And mayors cant save the national economy. So we can certainly be part of helping Small Businesses get back on their feet, we are going to do that, but the biggest and most important thing we can do for our people in our city is to act quickly and decisively to make sure people are safe. Neil mayor, thank you very, very much. Appreciate it. Mayor of jacksonville with us now. Theres been backandforth about what is an acceptable distance, is it six feet or is it 27 feet . Dr. Fauci weighed in on that. Looking at the distance that droplets fly by speaking, by coughing, by sneezing, so if you go way back and go achoo and go like that, you might get 27 feet, but i was disturbed by that report because thats misleading. That means that all of a sudden, the six foot thing doesnt work. That is a very, very robust, vigorous achoo sneeze. Thats what that is. Thats not what we are talking about. Neil all right. But that wasnt exactly what lydia boriva was saying, the Massachusetts Institute of Technology Professor who questioned again on a mathematical basis, numbers basis, whether the six feet thing alone is enough. The professor good enough to join us. Very good to have you. Thank you. Neil so professor, maybe you can educate me. You were looking at this, you know, the people when they sneeze, when they cough, that can project well beyond six feet. I think thats what you are getting at. But you examined it in a lot more detail. Tell me what you found out. Sure. So we are focused on exhalation, and developing technology to be able to reveal what you cannot see with the naked eye. What we focused on is exhalation so breathing out, coughing, sneezing. The central finding of our work is when we exhale, a gasseous cloud is coming out with high momentment and carries within it [ inaudible ] that you can see to ones that are invisible that you cannot see on the micron side. That cloud it turns out makes a big difference in the range that the drops can reach trapped within it, particularly sneezing, for example, which is the highest momentum emission that we can reach way beyond the six feet, can reach up to 26 feet, the coughs are second in line, reaching up to 19 feet. Then the exhalations that then reach around six to seven feet. The key central application of our work is really in Health Care Setting for symptomatic subjects. If you are surrounding with people actually coughing and sneezing, that are symptomatic, its critical to realize that the guidelines about the aerosol droplets, it does not account for the high momentum and can trap drops and carry them forward beyond the six feet zone for Health Care Workers that have been established. Neil so professor, do you think we should be more than six feet apart . That six feet is cutting it close . So it depends on the setting. When we are talking about health care facilities, full of symptomatic subjects, then definitely in that setting, we cannot consider that distance of six feet is safe for Health Care Worker and the major application of that is simply that the high grade respirators should be used in the Health Care Setting at all times, particularly entering a zone or room where a patient is present, whether we are within close contact with them or not. Thats the critical finding. For everyday life, for exhalations that are basically normal and the few places where we can have interaction, then just normal breathing does not reach as far. However, if you keep again in mind exhalation in the form of a cloud rather thnan a blob that can be tracked, one implication of a facial mask that is not high grade is it deflects that cloud to the side. It could have protective effect to wear those masks in everyday life. In fact, [ inaudible ] than the cloud could reach in normal exhalation. Neil sounds like the mask wouldnt hurt. Its really critical for everyone to understand as long as the masks are not taken away from Health Care Workers because the primary message still is the contaminated environment that is contaminated way beyond that six feet from the symptomatic patient is in the Health Care Setting. Thats really the critical point here. For other masks we use outside that are not high grade respirators, they are not as protective for inhalation of particulates contained in the cloud, so for people not to be overconfident and use them not to be closer to others, but if they are using them, that can remove the momentum of the cloud with the impact, deflect the cloud and therefore keep that cloud in the vicinity of the person exhaling, but again, with the important caveat that this should not be the respirators for the Health Care Workers, and that we are not overconfident with those masks in terms of now being closer to others, because they are not protective for the inhalation. They are protecting more to others to not basically project forward out exhalation. Neil you know, if you are right, doctor, if we dont change what were doing and stick to the sixfoot thing which these mitigating measures have improved, you know, the reports of increases and all that across the country, i guess across the world, then hoping that this can ease these stayathome provisions can ease and social distancing thing weve got in effect can ease after the end of this month might be premature, right . Its important to really consider the science that is coming out and now that we have more and more data from various Different Countries that are also using different approaches, its critical to reevaluate and remain open of how do we integrate the guidelines and procedures we are applying. Its critical at this time. In normal times its also critical for us to think about a way to translate results and data quickly into guidelines but in a pandemic its even more important, so that we can be in reactive mode and act quickly in light of new evidence or using the precautionary principles coupled with new evidence, because as you know, science is putting a lot of pieces of the puzzle together to get a full picture. That can take time. So its important to use a precautionary principle as that data is being put together and as we see more clearly the big picture. Neil really fascinating, professor. I want to thank you very, very much. You make people think and i think we should be doing a lot more of that kind of stuff. Professor bourouiba of m. I. T. More on that and more on this. The companies that are taking measures right now to protect their workers and you, Bjs Wholesale Club starting on saturday, that would be tomorrow, is going to limit the number of members allowed inside clubs one at a time. Again, practicing this distance thing that for now looks like six feet, not 27 feet, but fewer people will be going into those stores and bjs will be watching that closely. Beginning tomorrow. Stay with us. You wouldnt accept an incomplete job from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. A new kind of investor with an app thats changing whichthe way we do money. Download robinhood now. The xfinity my account app puts you in control with Digital Tools to give you the help you need when you need it. Get fast and easy answers with personalized help 24 hours a day, 7 days a week. Change your wifi password to a phrase thats easy to remember. Even troubleshoot your services on your own. Were working to make things a little easier for everyone. Download the xfinity my account app today. Neil all right. They are setting up medical centers in the darndest places. The pentagon announcing it is looking to do that in the Javits Center as Governor Cuomo had said to retrofit that area to provide beds. The same is being considered in new orleans at the superdome there, other locales. So this has gone way beyond these socalled field hospitals that began near central park, expanding way beyond central park in new york and way beyond new york. Jackie deangelis following all of that. Hey, jackie. Jackie good afternoon, neil. Thats right. This is a trend thats spreading across the country. 14 states right now setting up these emergency field hospitals. Now, this one behind me is a partnership between mt. Sinai here on the Upper East Side on fifth avenue and samaritans purse. There are 14 tents here and 68 beds. Doesnt really sound like a lot when you think about it. One woman here, a representative told me as of yesterday afternoon, there were 13 covid19 patients being treated here in these tents behind me. That number probably rising today and will continue to rise. The Javits Center that you mentioned, another location in new york city that is doing this and has been outfitted to take some of the overflow, supposed to be for the patients who didnt have covid19, but andrew cuomo spoke to President Trump and they decided those 2500 beds should be used for those who are suffering from this virus. So thats something thats happening here. As i mentioned, a wave of this is happening across the country. We have some pictures where its happening in california as well, in santa clara. All kinds of different spaces, Convention Centers, whatever is available, event centers, dorm rooms, hotel rooms, universities, all donating space to do this kind of thing. In santa clara you have 250 beds but when you think about the fact that we have been going through this already for four or five weeks now and its really tough on everybody and tough on the medical community, we are in the pregame, someone described it to me as. We are not even in the main event yet. So its wonderful that these makeshift facilities have been set up and hopefully they will be able to handle the overflow but you wonder just how bad it will be and if the people who need those beds are going to get them. That certainly is the hope here in central park. Neil . Neil all right. Jackie, thank you very, very much. Jackie deangelis. Take a quick break here. We are down about 490 points right now. Again, the awful employment news, probably reflects whats happening on the oil front here. Stocks pretty much moving down here. They dont really see any window of opportunity here or light at the end of the tunnel. When they are confused, they sell. They arent going crazy about it, as big as that number is, it represents a little more than 2 of the value of the dow. Stay with us. music neil here is how badly they need medical personnel and help. Push for graduating med students early to get to those hospitals and fast. Ashley webster has been monitoring that, hey, ashley. Ashley hey, neil, why not, indeed, medical students given the option. They dont have to taken but they are given the option and the help is needed. About a dozen medical schools across the country are making that offer. They would include new york university, harvard medical school, colombia medical school, the ucla school of medicine and ucla, arizona university. Medical students will only be able to take part in virtual graduations and enjoy their celebrations on zoom and that would happen later this year, so for a lot of them it makes sense to jump in early we spoke with maggie, fouryear student and says you know what, im ready to put my training into practice at such a vital time. Take a listen. Its certainly not how i expected to end medical school but i think that while the circumstances are different i think what we will be doing is fundamentally the same, you know, we expected to graduate on a later date and in a more controlled setting because we are still helping take care of patients. Ashley exactly, just getting an early state. Now different states have different regulations when it comes to this stuff. The new York State Department of education has given the goahead for early graduation and the state of massachusetts is issuing 90day provisional licenses in order for it to happen. Thats the biggest issue, neil, in all of this, finding enough for personal Protection Equipment to make sure that the newlyminted doctors have the protection they need, but they are needed, indeed. Neil and i was thinking going after ashley im sorry, jackie, she was talking about new locations that have been recordfitted, the Javits Center, in new orleans the superdome for beds. Now at the point to needing immediately but what they are developing, they are getting ready for it. Ashley they certainly are. At one point the javits were for overflow of hospitals that were noncoronavirus related and thats gone out of the window now and we learned that the Javits Center among others will be taking coronavirus patients as well. So, you know, we are just trying to gauge this as we go along but the more beds and the more doctors, the better. Neil all right, ashley, thank you very, very much. Ashley webster, the guy works 20hour day no matter where he is. Working 20hour day at a mine mum. To update you is Dow Jones Industrials down 519 before i hand it over to my buddy. As of 1 30 p. M. , so about half hour ago, 4600 loans have already been approved for total of approximately 1. 6 billion, 457 banks involved led exclusively by Community Banks. When you consider that the feature of the stimulus grant, 2. 3 trillion stimulus plan was about 360 billion and on its first sort of minutes of operation has gotten that amount of money out. Its a Hercules Task and notion that help is on the way proves that help is already here, to Charles Payne, hey, buddy. Charles hey, neil, thank you very much and great and appropriate comments. We are grinding our way through something that we have never been before. Good afternoon, im Charles Payne and this is making money. Today, of course, especially weighed down by shocking news, 700,000 jobs lost last month, 7 times more than wall street expected. Coming up what you expect from the job markets from here. Also the report is short of monetary injection and that will increase debate on role of capitalism during and after the crisis, liz peek will give u