Transcripts For FBC After The Bell 20240712

Blake burman at the white house. We have Lauren Simonetti watching the market action. Edward lawrence reporting from washington at the but on this up and down day, lauren, we start with you. Lauren lauren its with up and down day. I had to look over to see if stocks finished the green. It is changing constantly. This is the new normal. Investors are totally unsure how to price in politics. Not just the expected turbulence around the election, but the future of stimulus. Stocks got a major stimulus from comments on treasury secretary Steve Mnuchin he and House Speaker nancy pelosi theyre going to keep talking about a new relief bill as House Democrats reportedly are ready to scale down a package of their own. Doesnt mean it is going to happen up investors like they are talking. We call it the mnuchin maybe, maybe. The s p 500 avoiding falling into correction territory, up, after the closing bell by just nine points. Yes, it is positive on the year by a whole 16 points, guys. Take a look at big tech here. It is back in the drivers seat tough september for these stocks in general. Each of these names down 9 at least this month. Investors starting to doubt how much longer tech can be a safe haven for many people. We got solid economic data. It continues to pour in from the housing front. New home sales topped one million for first time in 14 years. Theyre up from last year. The reason this report is important, new home sales, theyre counted at signing of the contract. So theyre in a sense leading Economic Indicator but we got much noisier data on the job market. 870,000 americans filing for Unemployment Benefits last week. It is a really stubbornly high number at this point. Almost 40 of the u. S. Workforce is out of work since the pandemic began. We get the big jobs report next week. But look, you have this conflicting data. Housing great. Jobs uncertain. Investor confused. We have another day of choppy trading, guys. Back to you. Connell that last stat, almost 40 of the workforce is remarkable, not in a good way. Thank you, Lauren Simonetti. It is interesting, melissa. Youre pricing in politics. There is risk there for investors in the market but i think part is also price. You have the big tech stocks you talked about. Youre down 9 . Maybe i get back in. It will be interesting to see how the next few sessions go i guess. Melissa no, that is a great point. There are things in there, undeniably are a buy. Still a lot of peopleare out of work. A lot to digest. President trump speaking about his vision on future of health care. Blake burman is the at white house with details on this one. Everyone cares about health care, blake. Reporter indeed. What the president will be talking about in charlotte, North Carolina as the president is en route there. President trump were told from white house officials will sign two executive orders at that event. The first one essentially will be strucking congress, all the stakeholders involved in the issue of surprise medical billing to come to some sort of agreement or consensus by the end of the year by january 1st. Executive order number one. The second one the president will declare it is the policy of the United States that protections should be in place for those with preexisting conditions. However critics of the president will also note that is already the case with the Affordable Care act, the law of the land, a law the Trump Administration believes should be repealed. We also will hear from the that event, those who rely on insulin via Medicare Advantage will have their insulin covered for 35 a month. A very big savings for those folks who need insulin and get it through Medicare Advantage. There was another issue at the white house. A issue of a peaceful transfer of power because yesterday during his press briefing the president was asked whether or not he would take part in a peaceful transition of power and he would not commit to that. Today the white house was asked about this repeatedly. The White House Press secretary Kayleigh Mcenany saying the president would indeed be a part of a peaceful transition of power so long as he loses a free and fair election. The president right now enroute to North Carolina for the health care event. After that well have a Campaign Rally in florida, two swing states coming up here in the upcoming hours. Back to you. Melissa blake, thank you for that. Connell . Connell lets get to treasury secretary Steve Mnuchin now. Fed chair jerome powell, they testified before the Senate Banking committee today on the administrations economic response to covid19. Edward lawrence was covering for that for us. Join us from washington with the details. Edward . Reporter connell, the stimulus, the next round of stimulus a big topic of discussion. No talks on the schedule right now for another covid relief package but it does appear the continuing resolution to fund the government will pass the senate next week. Treasury secretary Steve Mnuchin on his way to that Senate Banking Committee Says that he hears or hopes that it will pass the senate promptly. Inside of the hearing mnuchin testified that he spoke 15 oar 20 times to the House Speaker about the cr. They also agreed to talk at some point about the next relief package. The House Speaker responded like this. Listen. We came down a trillion dollars in our 3. 4 trillion bill. Then we offered to meet the republicans halfway. We still have not heard back about that. But you know what . Since then the needs have not decreased. Reporter senior democratic aide tells me the House Speaker directed her Committee Chairman to come up with a scaled down relief package, 2. 4 trillion to restart talks with the administration. Now that aide says the house could vote on that scaled backpackage next week, if talks dont go anywhere again, a source in the democratic Leadership Meeting an hour ago tells me that the meeting in that meeting the package will contain help for airlines, restaurants and other priorities the democrats have that popped up since the heroes act passed. Now in the banking hearing senator Sherrod Brown pressed treasury secretary telling him that President Trump left Unemployed People in ohio on their own, prompting this response. I think that is just a gross misstatement around exaggeration and again, if the democrats are willing to sit down, im willing to sit down anytime for Bipartisan Legislation in the senate. Lets pass something quickly pot pot the bottom line it appears the government will be funded after september 30th. Today movement from democrats to come down closer to the republicans on the next relief bill. Still 900 billion apart from where the white house would like that bill. But, progress. Back to you. Connell i guess, yeah. That is nothing compared to what we whether talk about. Edward, something else. Edward lawrence live in washington. Melissa. Melissa lets bring in steve moore, Freedom Works economist. So nancy pelosi looked like she budged. Now it is back on republicans isnt it, to either agree or do something because she is saying i will meet you halfway . Well, melissa you know i was listening to that report and were still where we were two month ago. Nancy pelosi continues to insist on somewhere between one trillion and 500 billion for bailouts of blue states and blue cities. The state has have already balanced their budgets and representatives of states like texas and tennessee and places like utah, idaho, we balanced our budgets. Why do we have to bail out the states. If it is private sector relief, there is not a lot of difference. The president wants to do payments to individuals. Pelosi does. They want to do something for hospitals an schools. It is just frustrating she keeps saying the same thing over and over again. By the way when she came up with the original trillion dollar estimate how much states and cities needed, that was based on economic forecasts that were way lower than where we are today. The economy has grown much faster melissa steve, i want to understand though, yeah, i want to understand, when she comes down on her number where did the money come from she gave up . Is she give being states and municipalities less so it is still not acceptable because republicans dont want to give them anything or did she cut, quote, unquote, from somewhere else . That is a good point. They did come down a little bit as i understand how much money they wanted for states and cities but theyre still talking about hundreds of billions. Melissa, there is already 250 billion already been delivered to states and cities. They havent already spent that money. So i think position of the white house wait a minute another 500 billion when we put 250 billion in. I think that is the big hankup. Because they agree on just about everything else. Any that is the frustration. Incidentally im someone who says i dont think we need another stimulus bill. I think the economy is doing a nice job recovering from another 1 1 2 to two trillion dollars of debt. Dont forget, melissa, just yesterday, the Congressional Budget Office said that all of this debt that were adding to the economy means that were going to have Slower Growth in the future. So were mortgaging our future by loading up with all of this debt. Melissa right. Youre preaching to the choir on that one. I knew i was. Melissa we cant get the debt under control, no one except you or me seems to care about that. Do you think it is political wise for the republicans and president to die on the mountain, we dont want to provide any funding, anymore funding, i should say to states and municipalityies states dont want to balance their budgets or willing to foretwo that or willing to for political reasons in order to get something done . That is the big question. How much political benefit does donald trump get if he strike as compromise deal in these last six weeks of the election. I dont even think that many people in the white house think this will stimulate the economy. It certainly wont stimulate the economy before the election, right . That money that theyre talking about wouldnt even get out the door until 2021. So that is another thing to consider. Melissa do you think there is a political benefit. Donald trump passing a bill, melissa, stimulates the economy for joe biden next year. Melissa do you think he should do it or not . I think no. I think there is no, it is not necessary. You know melissa you dont think, i meant politically. Okay. Let me ask you a quickly about the economy. Im sorry, i know with the delay it is a challenge. We look at the jobless rate this week, you know, staying steady, that jobless number. What does that tell but the economy . We all know that you know, the easy, hiring has already happened but does this, how pessimistic does it make you . I think there is a lot of nervousness in the Business Community and in the Financial Markets about the potential of a joe biden presidency. There is nothing in joe bidens economic agenda that is positive for growth. I mean nothing. It is all economic redistribution. And you know, i disagree with that assessment i heard a little bit earlier, if the democrats dont sweep it will be okay for the economy. No. If biden is the president well not get good policies for four years that will reverse a lot of gains we made with the tax cuts, deregulation, the energy policies. So you know, i do think there is a lot of skiddishness on the part of Small Business investors and owners of these businesses to invest if they think that there might be a, you know, a change in leadership that would be very bearish for growth. Melissa all right. Steve moore, thank you for that. Go get that phone call. Happens to all of us. Appreciate your time. Connell, over to you. Connell you never know. An important guy, steve moore. You never know who might be on the other end of that phone call. We have a important story coming up, we love stories about this, about innovation under the pandemic. One Company Using technology to expand covid testing and do it with contactless delivery. Theme parks fighting back. One six flags closed all summer is trying to bounce back. How one company is reeling in new customers to the socially distant fishing world. Stick around. Much more to come so youre a Small Business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Connell costco selling on the news on the stock. The company was expect to the report strong relative to expectations Fourth Quarter. Looks like 313 a share. 3. 8 billion from revenue. Both up, both better than expected. The press release does talk about some costs. They say the Fourth Quarter was negatively impacted by the incremental expense related to covid19. Talking about having to pay premium wages and also sanitation costs. Last quarter they were hurt by that as well. Analysts didnt see it coming. This time they did factor it in. Beat expectations. Down after being up in the regular session today. More on costco when we get it but looks like a pretty good report. An innovative and contactless way for dronealliry. That Quest Diagnostics way to send at home covid19 testing kits. Thanks for joining us. Rather than me doing it, why dont you explain how this Partnership Works for people . Well thank you very much. Well, walmart and quest and drone app have partnered really to launch an Innovative Program that allows us to within a one mile radius of the walmart pharmacy to deliver home selftesting kits for covid, via drone, fully contactless. Once they take the test, they return it in a prepaid envelope and get the test shortly thereafter. It is an interesting program. We just started it this week. We have started deliveries yesterday. And so far the response from the community has been, extraordinarily positive. Connell see the video you gave us there in the driveway. Give you a spot. The guy goes out, picks it up. Take it back in. Take the test. Mail it back in the envelope. That is that. It is innovative. Where are you doing it exactly and might you expand this . Talk to the companies about that . Right now were doing it at a walmart in north las vegas. We will be launching the same program in a few weeks, in a suburb up in buffalo, new york. And after that, who knows. I mean understand that, this is really a very unique program to use drones in this particular manner and to take them in for residential delivery and were taking everything that were learning here and continually iterating and evolving and hopefully this will lead to future opportunities both inside with medical and medical type deliveries but perhaps other retail opportunities as well. Connell yeah. What kind of meetings do you have on that front, taking covid out of it for a moment . Well get through this hopefully sooner rather than later, but from the companys point of view, maybe you learn something that will apply . Is this kind of thing fairly widespread and if so, how soon . We know the technology is safe. And so the real challenge that our industry faces now, i would say there are two challenges. One is, how do we do this and scale it up so that it is a, it is a feasible delivery model moving forward . And secondly, how do we use opportunities like this to demonstrate to the community that drones are approachable and that they are safe and that, they do bring a convenient way to have that on demand delivery in place. So it is about learning. It is also about helping change that narrative and, build acceptance and so these type of, these type of exercises and pilot programs that were doing now, you know they go along way beyond just what were doing. That is one of the Big Questions everybody asks, when will we have this type of delivery and what were doing is rather unique because were doing it under part 107. Which means it is really line of sight, kind of one mile or less operation but, by doing this now, while other people are trying to figure out how to do the more longer range operations it allows us to both effectively deliver these and in cases like covid where there is a really positive mechanism to do it and a positive reason to do it, it also allows us to get an extraordinary amount of data, compile that data and then use that to collaborate with our Industry Partners like walmart and quest so we can book those future opportunities that youre asking about. Connell would you have to use it for regulators too to make the case if you want to go longer, faa, local governments, this is safe, not like they will let you fly over new york city anytime soon, for example or do it in suburban neighborhoods that are crowded . Im sure those folks are asking a lot of questions about safety . The faa has been very supportive and has encouraged our industries to find, safe, effective and scalable ways to do these types of operations. Youre right, were not ready to be doing this over large metropolitan areas. Were not necessarily ready to do it over very long ranges. There is some technologies and some standards that still need to be agreed upon. Both in our industry and with regulators. And as we continue down this path we believe that a lot of the data that were collecting will help guide both our industry and innovators within our regulators and allow us to collaborate together to find the appropriate way to do it, in the appropriate amount of time moving forward. Connell all right. Good luck with it, tom. Thanks for coming on and explaining it. Droneup is the company. Well follow up. Tom walker joined us. We love stories about innovation during the pandemic. It is so much more than that. So many applications, older people need something. Head home, get them to it easily. Interesting how theyre using all of this technology. Melissa no, i mean, busy moms, you know, in new york we get everything delivered because time is so precious. Instead of walking to the corner to get cuetips, throw it into the order from amazon or anywhere else because youre always wanting to save time and make things more convenient. I think actually there is a huge application for this if you get whatever you want delivered, dropped on your doorstep by drone or anything else, i dont know, i think it is not that farfetched. Fascinating stuff. Thanks for doing, that, connell. By one flight, get one for your travel buddy. That could be me, connell. This is on ryan area on select routes through december of this year. You better your because the deal ends tonight at midnight. I will invite connell. I dont know how his wife will feel about that so maybe not. And a high risk for fracture, osteoporosis now might not be the best time to ask yourself, are my bones strong . 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Ask your doctor about prolia® fda approved for 10 years. Connell fox business alert here on novavax. It is beginning the latestage covid19 vaccine trial in the uk. It is expected to enroll in tests up to 10,000 stroll tears people age 18 too 84. Over the next four to six weeks. The stock is up. The stock is up by about 6 1 2 there. Some encouraging vaccine news. Melissa. Melissa bring back the magic. Disney calling on governor gavin newsom to bring back theme parks where parks in other states opened without outbreaks. Illinois another state that kept parks closed. Grady trimble in Six Flags America in gurnee, illinois has been closed all summer. Grady. Reporter a popular time of queer, melissa. There is no time frame for this six flags to reopen. As part of the governors reopening plans, themes parks are not included until the last phase essentially when life is back to normal and there is a vaccine widely available. In california, disneyland and other theme parks remain closed as they wait for guidelines from the state government. Now disney executives are urging governor gavin newsom to let them reopen. Im confident we can restart and get people back to work. As you can see from this discussion today were ready. And more importantly its time. Reporter worth noting there have been no coronavirus outbreaks traced to the 20 largest amusement parks in the United States. Disney has also been able to reopen parks in florida with of course capacity limits, social distancing rules and mask requirements. Even at those parks though, attendance is way down, between 60 to 80 at disney and universal. The pandemic is now responsible for estimated 40 decline in revenue across all theme parks in the United States. The losses totaling 1billion dollars for 18 billion, 125,000 jobs cut. Not Just Companies that run theme parks that could be struggling. It is also towns where the theme parks are located. For example, six flags here in gurnee, accounts for 10 of the entire tax revenue for this town. Melissa. Melissa wow, grady that is a lot. Thank you for that. We appreciate it. Connell. Connell President Trump will moments from now will roll out what is described as vision for future of health care. It is an event in the key state of North Carolina. Theyre getting set for the president there. Well talk about how it might impact voters at the polls coming up next. Gone fishing, the great jeff flock today is exploring how the pastime is faring during the pandemic. Well hear from jeff later on. Party city will open up just 25 halloween popup Stores Across the tire country. That is down 90 from last year. The cdc warned against traditional trickortreating my mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. 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On your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Melissa President Trump paying respects to Ruth Bader Ginsburg. The president visiting the Supreme Court today, is expected to announce his nomination to fill the vacancy on the high court this saturday. Fox newss chad pergram is on capitol hill with the details of all of it. Chad. Reporter hey there. The president and First Lady Melania Trump came to the Supreme Court to pay their respects to Ruth Bader Ginsburg lying in repose and crowds continue to file by today. This will move across the street to the u. S. Capitol starting tomorrow in more ways than one. Tomorrow a military honor guard will escort ginsburgs body steps away. She will lie in state in the Old House Chamber of the capitol. Ginsburg is the first woman and jew to lie in state in the capitol. Soon the fight begins to the president s successor. The fight is starts on saturday. Lindsey graham expects fight to start in two weeks. Learn about her, learn about the law, learn about the senate. I want it to be msnbckingful, challenging, but well not let it become destructive when it comes in kavanaugh. Reporter democrats rage republicans are trying to rush a nominee through the process over the next five weeks. Let me be clear. Neither this committee nor the senate should consider a nomination at this time. I recognize i dont have the power to carry through but i feel it very deeply. Reporter the confirmation vote should come sometime late in october but a Senior Administration official told me this morning it is possible it could bleed over past the election. In that case, lame duck senators, those retiring or who lost the reelection bids possibly votes on the nominee of maybe a lame duck president that woe be a very strange set of circumstances here on capitol hill. Melissa. Melissa definitely would. But a lot of strange things happened lately, chad. Reporter 2020, thats right. Connell that is the truth. Lets get back to this question about a peaceful transition of power mentioned earlier in the show. Here is the president last night. Will you commit to making sure there is a peaceful transferal of power after the election . President trump well have to see what happens. You know that ive been complaining very strongly about the ballots and the ballots are a disaster. Connell this afternoon at the White House Press secretary Kayleigh Mcenany was asked about the president s handling of that question and added this. The president will accept the results of a free and fair election. Connell here is now liz harrington, National Spokesperson Republican National committee. I want to get through a number of topics on this liz. So many republicans are asked, Mitch Mcconnell majority leader of senate, the winner november the third will be inaugurated on january 20th. There will be orderly transition just as there has been every four years since 1792. What is the rnc position on this discussion . Well it is interesting republicans are asked but democrats are the ones who havent accepted election results. They didnt except the 2018 result with Stacey Abrams claiming she is the governor of georgia. They certainly didnt accept the results in 2016 that was not transition. That was subversion t was a intelligence operation. Spying on President Trumps transition team. Setting up National Security advisor and hatching a plot in the oval office with joe biden and barack obama to leak a dossier paid for by Hillary Clinton. That was all lies to launch connell just to be clear either way an investigation, to try to overturn the election results. Connell the rnc position, a peaceful transition of power as Mitch Mcconnell always has occurred, will occur this time. It did not happen in 2016 number one. The point remains what President Trump is saying here we want there to be a fair and accurate result. We got a story with the Justice Department just today they had ballots in pennsylvania thrown out. All voted for President Trump, military absentee ballots. Connell we had content tested elections before. 2000. Eventually al gore after the Supreme Court decision moved on. There was peaceful transition. I want to put this to bed before we move on, are you committed, speaking for the rnc to a peaceful transition this time. It is pretty simple, yes or not. We can talk about some other stuff . Again, we want a free and fair out come and republicans have no problem accepting results. I dont expect well have a problem accepting these results either. Keep in mind democrats are not asked the question with john podesta and Hillary Clinton literally gameplanning out not to concede for any reason, telling joe biden not to concede. John podesta is saying democrats in western states should secede from the union if President Trump wins the election fair and scare of electoral college. Were looking to win the election fair and square just like we did in 2016. Were looking not to have a transition whatsoever because we will hold on to the white house. Connell let me ask you about health care. I asked that question as many ways as i could think. The president is going to talk about the vision were field today in a few minutes in North Carolina about health care. He was interviewed by Chris Wallace over the summer and said there would be a Health Care Plan within two weeks. Interview was july 19th, well into september, almost october. This even what we hear today wont necessarily be a plan, right . It will be more broad than that . Is it hard to run in the fall without a plan, alternative to obamacare on the republican side . Well, what the president is going to be talking about today is America First Health Care Plan. Which ties in what he has already been doing throughout this summer. And ties in what he has already been doing the first term of his presidency which is, increasing competition. Getting the government out of the way of health care. Not a government centered plan which is with weve seen from the democrats which worked out disasterously for obamacare which millions lost plans in the private sector and premiums skyrocketed. That is not what our solution is. What President Trump will talk about today, putting americans, patients and doctors first, not the government and not having government mandates and getting in the way of lower costs. So what the president will be speaking about, what he has already done administratively the department of health and Human Services to free up competition across state lines and lower Prescription Drug costs but also looking towards the future what else we can do to free up that competition. We do have the best Health Care System in the world because we do not have a singlepayer Health Care System which is what the democrats are pushing even with the public option which was explicitly designed to eliminate private insurance. Well really sound the alarm about that. We can talk about we can continue to lower costs increase competition with the private sector. Connell one final point on the Supreme Court before we wrap it up, the announcement of the president his pick, his nominee will be saturday 5 00 p. M. As you guys look at it has this, is there any way to measure, has this fundamentally changed the race do you think 40 days out . Well, it certainly an important issue. It is certainly going to motivate more of our voters as well. This is consistent issue that President Trump ran on in 2016. We expanded our majority in the senate in 2018 because specifically we followed through on promises. Well continue to uphold the constitution and fulfill our promises to the American People which is to put constitutionalists, originalists on the bench throughout the federal judiciary including the Supreme Court. Were really excited about to see who the president will nominate. It is going to be a great nominee. We have many choices. He has been very transparent with the American People. It is very important especially when you talk about democrats that are threatening to pack the court, theyre threatening to change and throw out the constitution and completely burn down the system because they didnt win elections. That is unacceptable but were not going to be deterred and continue to follow through on our promises to uphold the constitution. Connell all right. That is saturday evening, 5 00 p. M. , from the president. Liz, good to see you, thank you for coming on. Liz harrington with the rnc. You too, thanks. Melissa make up on demand. Sephora is launching a one Hour Delivery Service with instagram. See what im saying people wanting stuff delivered immediately . This is starting today. Customers will now be able to access sephoras selection of make up, skin care, hair care, tools, delivered the same price just as to your door. The service is delivered in select Stores Across california and canada with plans to expand to more than 400 stores nationwide. Just california . Huh. We need a drone. Smooth driving pays off with allstate the safer you drive the more you save youve never been in better hands allstate click or call for a quote today 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. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. Melissa following the money this election season, a Senate Report finding another big flow of questionable cash sent to hunter biden from a russian billionaire while his father joe was Vice President highlighted in wall street journal oped. Here is the man behind the article, james freeman. He is also a fox news contributor. So, james, this is a fantastic read because it is very straightforward and very simple and thats why i loved this so much. You talk about how many millions of dollars did hunter biden collect from foreign tycoons while his father was Vice President . There is a lot of focus on his arrangements in ukrainian natural gas, chinese finance and romanian real estate because he had no particular expertise, hunter biden in ukrainian natural gas, chinese finance or romanian real estate. What he did have was a father who was leading u. S. Policy in these countries. That goes more to the point, it wasnt just that his dad was Vice President. His dad was working on the foreign policy. The very basic question when democrats kind of throw up a smoke screen, what does Hunter Bidens money have to do with joe biden, you ask a very basic question, what did they think they were getting, or what did they get in return for these investments or this advice from someone who had no knowledge of any of these areas . They gave him millions of dollars for what . Do you think were getting any closer to knowing, just what they got in return for the money . Well i think we, we might get an answer potentially when Chris Wallace hosts the debate as the debates continue. We did learn, about millions more coming from a russian real estate tycoon but that point about what they were getting for their money, it goes to the basic biden defense which is, nobody has found any wrongdoing. And this is false, because when you collect millions of dollars for a nonjob job, from a foreign tycoon in a country where your father is Vice President , leading u. S. Policy, thats wrong. It would be one thing if they, each time one of these multimilliondollar deals came out, they said no, here is why actually hunter is a Corporate Governance expert. No, in fact he really does know something about ukrainian natural gas. They dont do that. Each time there has been a revelation they acknowledge it looks bad, immediately quit the association and promise never to do it again. They never really tried to defend the substance of any of these arrangements. So that question is left, what were these tycoons paying for . Melissa right. What did they get and what did they expect . Most importantly what did they actually get. In this last one, so we havent heard as much about the russian real estate and the romanian real estate endeavor. Were now hearing that has links to andrew cuomo. Can you break that down to us a little bit. That is the new part of the story i didnt know anything about . I didnt either. This is really the news to come out of the Senate Report is 3 1 2 Million Dollars from russian tycoon named elena botorena to Hunter Bidens firm. On top of that she is sending hundreds of thousands of dollars is what is described as related to a Loan Agreement to a company in new york a computer manufacturer called back usa. It is interesting because this was cones dentally Model Program for Governor Andrew Cuomo in new york. He gave this company lots of tax breaks. He promoted it constantly in press releases, social media saying this was sort of a model of the policies he was enacting in new york to encourage growth. The company went bust in 2017, sorry, 2018 i believe. So it is kind of a strange coincidence i would think to encourage some reporters who are curious to say, huh, thats funny. Russian tycoon sending a lot of money to hunter biden and also sending a lot of money toth obscure computer manufacturer in buffalo, new york, which was also failing, which was the Model Company for Governor Andrew Cuomo in new york. Why is this happening . Why is a russian tycoon sending large wire transfers and what does hundreder biden again know about computer manufacturing . Melissa do we know if this company ever actually made or sold any computers . I dont know. When they failed head tens of millions of dollars in debt assets only about 150,000 tore so so that would suggest that would suggest not many if they did sell them. Melissa wow. This is a you will wrong. Until you say until you say this is why this is legitimate, bidens are implicitly acknowledging is all wrong, they wouldnt quit and promise not to do it again whenever these things are discovered. Melissa right. They say, it is not against the law. Yeah. Well this is interesting. Melissa thank you so much. Go ahead. Finish your point. Well just going to say, ukraine does not have foreign corrupt practices act like we have in the United States. If the situation was reversed, it would be something the Justice Department would prosecute a u. S. Company for. Melissa yeah. James, thank you for that. We appreciate it. Connell . Connell all right. Quick break and well be right back here on after the bell. Dont go away. The lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. I was just fighting an uphill battle in my career. So when i heard about the applied Digital Skills courses, im thinking i can become more marketable. You dont need to be a computer expert to be great at this. These are skills lots of people can learn. I feel hopeful about the future now. Connell all right. Before we wrap it up this hour, jeff flock has a fishing gear company today that i believe, jeff, is doing pretty well here in the pandemic anal, right . Reporter im going to show you bull shad. You can catch fish with that, made by a Company Called catch co. The covid19 epidemic has been it started off as a challenge, but since then theres been a boon to our business. Reporter look at all this stuff, connell, crazy stuff, fish. Everybodys buying it. You can get away if everybody and catch a fish, not catch covid19. Connell that is we said to ourselves, i wonder, you know, we only have a minute, can the reporter do the story and do it justice in that time . I said, whos the reporter . Flock. Of course its flock and then i thought you cursed, and i got very, very worried. Good to see you, my friend. Thanks for joining us each and every day. See you tomorrow, same time. Lou dobbs tonight starts now. Lou good evening, everybody. Violence breaking out in louisville last night. Then after a grand jury chose to charge one of three Police Officers involved in the march shooting of breonna taylor. Two louisville Police Officers were shot as the radical leftist mob ransacked streets and protested in various ways and violent ways at that. The police do have a suspect in custody. He is lorenzo johnson. He was charged with firstdegree assault of a police officer, firstdeee