Levisohn, carlton english and jack howe. Ben, im going to start with you. According to the textbook, the value of stocks is based on future cash flows. And with Interest Rates so low, of course, those future cash flows are a little more valuable. Add that to the fact that this Coronavirus Crisis presumably will pass over a couple quarters, and that hes eye academically at least the stock market should be rallying. To you buy that . Do you buy that . I think the market in some ways have lost its mind, but theres so much money out there right now. The feds dumped money and the governments put money, and now were seeing this good news in terms of reopening. And, you know, its as if we can just look past, the market is looking past all the bad stuff right now to a time when everything is back to normal. And if we can get back to normal, if earnings can get back to the trajectory they were on before, if the economy can get back to the trajectory it was on before, then the market make makes
Levisohn, carlton english and jack howe. Ben, im going to start with you. According to the textbook, the value of stocks is based on future cash flows. And with Interest Rates so low, of course, those future cash flows are a little more valuable. Add that to the fact that this Coronavirus Crisis presumably will pass over a couple quarters, and that hes eye academically at least the stock market should be rallying. To you buy that . Do you buy that . I think the market in some ways have lost its mind, but theres so much money out there right now. The feds dumped money and the governments put money, and now were seeing this good news in terms of reopening. And, you know, its as if we can just look past, the market is looking past all the bad stuff right now to a time when everything is back to normal. And if we can get back to normal, if earnings can get back to the trajectory they were on before, if the economy can get back to the trajectory it was on before, then the market make makes
Here are just a few bay areabased companies that have announced big job cuts recently. Uber is laying off 3700 workers. Lyft is cutting 982 positions. Airbnb laying off 1900 people. And we dont know how many local workers are affected at those three companies. We do know that the oakland as are laying off nearly 800 people. The San Francisco giants cutting 1200 jobs, and bon appetit management is laying off more than 1500 workers in San Francisco. I think in the shortterm, there are going to be some sectors that are going to have trouble coming back, even under the best Public Health response. Uc berkeley Public Health policy professor Jesse Rothstein says that includes restaurants and Small Businesses, but includes even powerhouses like uber who thought treating drivers as independent contractors made them less susceptible to layoffs are finding thats not true in this pandemic. But even when all this begins to quiet done, some things may never go back to the way they were. Set your ex
Friend. Were watching that very closely. Were keeping close eye on washington. Were focused on capitol hill. The house taking up the stimulus measure, relief measure, whatever you want to call it, to the tune of 484 billion. Now the house physically there, in person, some Wearing Masks to make sure they get this done. Lets get the latest from chad pergram, how this will all sort of fan out. Chad . Reporter hey there, neil. This is the debate. They started 15 minutes ago on this bill, about 324 billion of this goes to Small Businesses. You might recall a couple weeks ago that fund ran dry. The cupboard is bare. The cost of this bill ballooned from 251 billion specifically to Small Business, to 484 billion as you say. House Speaker Nancy Pelosi says democrats improved the bill. There is money in here for hospitals and testing. Listen to the speaker. Im very pleased that it was transformed from a bill two weeks ago on the floor where the leader in the senate said, this is it, 250. Were no
Treatment to stop the coronavirus, also talk of vaccines possibly available in less than a year, china is in a world of trouble, reported the economy contracted in four decades, china again raised the official death toll in wuhan, this time by 50 . But spring and former wisconsin Governor Scott walker, great to see you governor. Great to be with you, thank you for having me on. Liz were seeing a growing number of states possibly reopening in the next couple of weeks, this is about the administration shut down exit plan or are we heading into pandemic summer, what do you think, we have several western governors in their pack to reopen their economies like its happening in northeastern west coast, what do you think will happen. I hope that we are actually able to walk and chew gum and by that i hope are able to continue to provide the care that we need to make sure citizens are healthy and safe and we defeat the coronavirus, but at the same time put in place plans that allow us to gradua