Good thursday morning. Welcome to squawk alley. With Morgan Brennan and jon fortt at the New York Stock Exchange we watch the markets being whipped by some of the trade headlines. We also have two big ipos in focus today as well. We await the first trade of smile direct club. Lets bring in bob pisani to talk about that and overall iep landscape. We heard valuation is not there, does this mean the ipo market is overrated. Slack, first earnings report, growth wasnt as strong as people thought, not a good idea, growth is not as strong. Some software companies, now theres jitteriness. This week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. Upped it to 38 it opened at 54 talking little more than a week ago, 31 to 35. We open at 55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. Another software company, out there, Website Security and other things, was 10 to 12, 35 m
Amass wealth and raised to help overcome those obstacles it. This is about an hour and a half law. The committee will come to order. I know its that all shall be present. Without objections the committee has authorized to declare a recess at the committee at any time without objection, they will accept the full committee on the subcommittee are authorized to participate in todays hearing. The committee is meeting today, pursuant to notice the testimony on examining the racial engender and wealth gap. I now recognize myself four minutes to give an opening statement. Todays hearing is rendered allround a subcommittee exists and the racial and wealth gap is real and acceptable and actually much larger than people think it could be get total access the cash retirement now or youre home and then subtracting abilities such as Credit Card Debt, student loans, mortgage to reach your net worth. But according to the United States in borough, the net worth of white households was 130,000 and 800
This portion, local community and Homelessness Prevention advocates talked about the causes of homelessness in their area, and what they need. The audio issues in the start will go away shortly. Our second Panel Includes mr. Tim watkins, president and chief executive officer, watt Community Action committee, and mr. Joe foyer, the local support corporation, becky dennison, executive director Dennis Community housing, anthony hayes, speak up, advocate corporation for support of housing, erica hartman, and chief Program Officer Downtown Womens Center, and chancellor of alman corps, and executive director of the housing center. Alma vizcaino, downtown speaker of the violence against women and services center, and also, the chief and executive Community Leader of friends, and without objection, your written statements will be part of the record. Each of you will have five minutes to summarize your testimony, and i will give you a signal by tapping the gavel lightly when one minute remains
A tool to limit the number of people getting support so you have this moment in history where theres a recession and a backlash against social spending and social movement thats winning successes that and discriminatory treatment and there really is no way to close the roles they cant close the roles the way they had in the past which is just to discriminate against people and thats the moment we see these tools start to be integrated into public assistance i think its really important to understand that history i think too often we think of the systems s. Just simple administrative upgrades sort of natural and inevitable but in fact there are systems that make really important consequential political decisions for us and they were from the beginning supposed to solve political problems among them the power and the solidarity of poor and working people in the only 900. Close to 50 percent of those living below the poverty line in the United States receive some form of cash welfare from
Second panel for todays hearing. Thank you very much for coming and giving your testimony. [inaudible conversations] our second Panel Includes mrt and chief executive officer, Labor Community Action Committee and the Regents Program Vice President local Initiative Support corporation, executive director for community housing. The advocate corporation. In the chief Program Officer the executive director of the house center. Speaker downtown of behalf of Domestic Violence Homeless Services coalition. And deborah door, president and chief executive or officer without objection your statements will be made part of the record into view will have five minutes to summarize your testimony. You a signal by tapping the gobble lightly when one minute remains. At that time i will ask you to wrap up so weto can be respectfl of both the witnesses and the committees in response. Mr. Watkins your reckoning for five minutes to give your oral testimony. Thank you. And i will not spend too much time tell