Good morning. I call this hearing to order. The chair is authorized to declare recess at any time. I want to thank everyone especially the witnesses for joining us today for the committees. I want to make sure to note some important requirements. Let me begin by saying that the rules and practice will continue to apply during the proceedings. All members are reminded that they are expected to appear to the rules including the quorum. The d and the guidance from the rules committee in a manner that respects the rise for all members to participate. It requires the members to have connections so please keep your cameras on. Also if you have to participate in another proceeding, please exit this one and log back in later. On the technical issues, recognized in the questioning i will move to the next available member of the same party and recognize that member at the next appropriate time slot provided the of returned. If a witness loses connectivity during testimony were questioning, i wil
But brad, welcome, its good to see you again. Great to see you. Thanks for having me. I wonder as a tech investor what you make of the nasdaq and that sector the last few days. Is it a simple correction or something more you probably saw last night i tweeted, pullback . What pullback . Precovid the multiple on the soft way growth index was about ten times sales it peaked about a week ago today were at 13 time sales were still 30 higher valuationses in software than we were before the paechbd. The same is true for growth internet precovid about 23 times next years ebitda. We peaked at about 35 times next years ebitda. Today were still at 32 times, so heart will hardly a correction in my books. Do you think some of these stocks got simply out of control in the way they went up parabolically . The characterization doesnt need to get worse. Its pretty good these are peak multiples for stocks in the middle of a Global Pandemic for most software companies, the pandemic has not accelerated th
Manufacturers from foreign competitors. French president emmanuel micron is calling the attack of russian Opposition Leader Alexey Navalny in assassination attempt. He is calling on russia to launch a transparent investigation. The comments came on a phone call with russian president Vladimir Putin as to more european laboratories found traces of a nerve agent. Navalny is in a hospital and is said to be improving. President trump started a process that could cut u. S. Drug costs. An executive order would tie prices to those paid by countries with National Health systems. Of ander falls short immediate cut the president has said would lower patients outofpocket costs. Global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. Vonnie it is 1 00 in new york, 6 00 in london, 1 00 a. M. In hong kong. Here are the top stories on the bloomberg and are in the world we are followi
Something so dear and so precious that he would die for it then he doesnt have much to live for. We have seen the revolution began in many ways and through the course of this following has many tributaries. We are concerned with its effects, which we said are not uniform. One of the difficult fights but one in which the negro has scored impressive gains is in shattering what reverend Martin Luther king has called the appalling apathy of the good people. Birmingham helped shatter some of that. A fellow board member of the National Council of churches was told some time or other we are all going to have to stand and be on the receiving end of a fire hose. Leaders of all three faiths decided they must do something not just Say Something and many clergymen were stepping from behind their pulpits and joining the ranks of pick ets. Until then Church Action limited to a few fronts. Among them new orleans. It was three years ago grade School Desegregation came. It happened in new orleans. The
A lot of the jobs that have been lost since the pandemic are being recovered. No question it was a much better number than was expected with the headline being 1. 4 million jobs added and the Unemployment Rate going below double digits for the First Time Since the pandemic adding it all up we now have recovered since april a total of about 10. 6 million jobs, which is huge progress, but it also leaves a huge hole we still have 11. 5 million fewer jobs than we had in february which was the month before the pandemic so weve still got to dig ourselves out of the hole and weve still got to look at the permanent impact of all of this. One in the numbers i went to first in this report is the number of people seeing permanent job losses it did rise by about half a million. Its 3. 4 million so that is the highest level since 2013 and does point to the fact that there is going to be some permanent scarring despite the fact, carl, that we are seeing progress, its moving in the right direction. T