We are holding this hearing virtually in compliance with the regulations for Remote Committee proceedings pursuant to House Resolution 965. This is the third virtual subCommittee Hearing and the ways and Means Committee. As with our previous hearings i want members to know that i plan to continue this committees long tradition of collegiality and substantial debate, substantive debate, even as we conduct our business from afar. I will continue to work with the Ranking Member, mr. Smith, and his staff to ensure that the rights of all members are resected in these new virtual formats. Before i turn to todays important topic i want to remind members of a few procedural to help you navigate this new platform. First, consistent with regulations the committee willfi keep microphones needed to limit background noise. Members are responsible for on meeting themselves when they seek recognition or when recognized for a fiveminute statement. Second, members and witnesses must have their cameras
I want members to know that i plan to continue this committees long tradition of collegiality and substantive substantive debate, even as we conduct our business from afar. I will continue to work with the Ranking Member mr. Smith and his staff to ensure that the rights of all members are respected in this new virtual format. Before i turn to todays important topic, i want to remind members of a few procedures to help you navigate this new platform. First, consistent with regulations the committee will keep microphones muted to limit background noise. Members are responsible for unmuting themselves when they seek recognition or when recognized for their fiveminute statement. Second, members and witnesses must have their cameras on at all times. If you need to step away from the proceedings, please leave your camera on rather than logging out. Finally, we have several members who are waving on to the subcommittee for todays hearing. Given the large number i will recognize members in an
Have to act. Unless we get more support, i think the u. S. Will go back into recession. Isathan joining us now gershon distant belt. People, hey for many was asking fiscal policy makers to do more. Iu were the one person that have read in the last couple of days that believes that was a dovish news conference. Tell us why. Do agree with a lot of the clips you pointed out, ive been saying it for a long time. You need fiscal support. This belief that the fed or Central Banks can solve problems by themselves is silly. This is not a classical recession. There is nothing Central Banks can do to get people to go there is a supply shock aspect as well. Restaurants are not fully open. You cannot go to the sporting event. The fed can do all that wants but you need the fiscal side. In terms of the relationship to the dovish side, there were several indicators. The fed was clear, chairman powell was clear he was willing to do more quantitative easing if necessary. He didnt say anything about pull
Kick it off with gerri willis. What a week and what a day, this is been a rotation out of tech stocks, it is getting slammed all week long, no different today, as weve been talking about today, the dow is up for the week but the s p and nasdaq not so much, both of the index down for the week, the dow, s p were on pace to snap a two week losing streak but the dow managed to fight back a little bit, as we close were seen something just a little bit different, all three major indexes down as we can see right here, as we move on, the big focus on apple today, it was on pace to enter a bear market and it did exactly that, take a look apple shares, apple below 10734 cents, it did indeed do that losing 536 billion in market value, yes with a b since its record closing high on septembea rotation out of what you would call the big tech names, we talk so much on the network, apple, google, netflix, you name it, microsoft, all the stocks are heavy pressures, as investors sold and moved into new s
Launched today around 77. Around, you know, in that roughly about 1. 8 billion offering here where the valuation of the total company, if you extrapolate that out, youre getting well into the 13 billion neck of the woods. So a very, very Big Development here. Jackie deangelis is following it. This is kind of the rule of thumb, the vast majority have been of that ilk. But again much will have to change, and well see in the next few hours. Not a bad launch. What are you hearing, jackie . Not a bad launch at all. It came public under the Ticker Symbol u, neil, and its trading higher by 35 . Opening trade was 75 a share when it priced at 52. This is remarkable because the whisper number last week on the low edge of the range was 34. So you stand back and ask yourself what are investors thinking, especially during this time period of so much uncertainty, you know, to be bidding up a stock like this, you know . This is a company, as you said, its part of this Video Software chain, so it make