Welcome to squawk box. Im Andrew Ross Sorkin along with joe and melissa lee, becky is off the s p looking to open about 12 points higher. Well explain why some of this is happening and lets show you treasury yields as well the ten year note right now looking at 0. 931 . But maybe a little bit of an explanation coming up here, melissa . Yeah, some optimism Mitch Mcconnell said that compromised deal was within reach and well get a live report from washington at 6 30 a. M. And we heard it before, but it seems like btoth sides are comig a little closer. On a much lower number. And im just thinking about, i dont know, andrew, what did we do to deserve this i mean we are living right or i mean, who ushered in the new week on squawk box on monday who is helping us usher out the week that was on squawk box . A monday and a friday. Is this46 w was this planne melissa, what did we do to deserve this not wouldby not by me how long has it been, stimulus vaccine i guess the election, although we do
Brought to you today by your television provider. Next, centers for Disease Control and prevention director dr. Robert redfield and National Institute of allergy and Infectious Diseases director dr. Anthony fauci testify on the coronavirus outbreak. They were joined by other Health Officials at this House Oversight and Reform Committee hearing. It is two hours and 10 minutes. The committee will come to order. The chair is authorized to declare a recess at any time. I want to inform members that we have a change in schedule. As we explained in the hearing memo, we were planning to do Opening Statements from 9 30 to 10 00 and testimony and questions from 10 00 to 1 00. This morning, we were informed that President Trump and Vice President pence have called our witnesses to an emergency meeting at the white house. We dont know the details, just that it is extremely urgent. Now the witnesses have to leave at 11 45. In light of this sudden change, we are going to significantly reduce Openin
Redfielddr. Robert testify on the outbreak. It is two hours and 10 minutes. South korea has now tested more than 196,000 people but we are not anywhere close to that. They started conducting drive through testing, but people here in the United States cant even get tested by their own doctors. This is the United States of america. Were supposed to be leading the world, instead were trailing far behind. How did south korea test so many people so quickly but we didnt test a fracture of that number . Why did it take so long . We must do better. Unfortunately these delays have been systemic. Just last week the Trump Administration promised to deliver a million tests by the end of the week but it didnt even come close. On sunday they admitted they delivered only 75,000 tests, thats over 900,000 tests short. And this was their own stated goal to the American People. Now the Trump Administration is saying they have distributed a million tests and they will be distributing four million by the e
[indistinct conversations] the committee wil without objection, the chair is authorized to declare a recess of the committee at any time. I want to inform members that we have a change in schedule. As we explained in the hearing memo, we were planning to do Opening Statements from 9, 30 to 10 00 and testimony and questions from 10 00 to 1 00. Is morning, we were informed that President Trump and Vice President pence have called our witnesses to an emergency meeting at the white house. We dont know the details, just that it is extremely urgent. Now the witnesses have to leave at 11 45. In light of this sudden change, we are going to significantly reduce Opening Statements instead of doing 30 minutes, we will do 10. We will get right to questions. For the witnesses we have your wit and statements. Keep your oral statements as brief as possible. At 11 45 we will recess the hearing and work with the agencies to determine when the witnesses can return. With that i recognize myself for a few
It is economics. I apologize for the wonky notes. When we had the consultants look at the occurrence, the way they started, they looked at wetland costs today. They looked at what Construction Costs today which is astronomically going up between 515 per year. And they looked at what rents are today. That is how you start one of these things. They came back and they said, office space doesnt work. And we said, that is not a good answer because they are trying to build it. What did you do wrong . They said, what we think we did wrong is we need to understand that these projects have been in the pipeline for a while. What that means is they probably got their land for a little bit less. We know it they bought their land for. They may or may not have contract guaranteed minimum contract with a contractor that gives them some shielding, probably not too much. The last piece is that we are looking at todays rents, as high as they are. They came back to us on what they said is, obviously empi