From volkswagen today. The auto company, vw, just unveiling its new electric suv. It will be assembled right here in tennessee, usa. Volkswagen of America President and ceo, scott keough will give us all the details a very busy hour coming up. Johnson johnson is beginning a latestage trial of the oneshot coronavirus vaccine. Jackie deangelis with all the details. Hi, jackie. Reporter good afternoon to you, david, that is really important. Latestage testing will get to us the vaccine this is phase three for Johnson Johnson. Administration operation warp speed has four candidates now, this is the fourth one to get the latestage testing phase. Phase three for Johnson Johnson will be 60,000 people across the country and abroad. Moderna, pfizer, astrazeneca, they are the other ones right now in the latestages this is coming as the department of health and Human ServicesJust Announced 200 million as well to try to get certain jurisdictions ready to administer the vaccine. It will help them to distribute it and put infrastructure in place. But it is important to take a step back here, david, to realize what has been accomplished in the last six months. The administration pushed the drugmakers and the fda to Work Together in a new way here, to maximize speed and efficiency to and other wise very cumbersome process. I spoke to the former fda associate commissioner peter pitts yesterday, he told me this is an Inflection Point of private enterprise coming together with a government entity, agency, in a way that we have never seen before. It will elicit profound change. Listen. Health care ecosystem working together to defeat covid19 informs us as how change agents, for example, inside of the fda can take those learnings apply them to noncovid19 issues. How can we bring drugs and biological devices to the market faster, use new type of statistics, science and real world evidence and that is going to happen. Reporter with covid19 yesterday surpassing that 200,000 mark this is all so important. All the trials, all the work that has been done, even the negative outcomes been out there, david, they have helped us get closer to combating the disease and create a new Gold Standard for research and development as we move forward. I think that is really going to be important when we look back on this in history. David it is. Although only 13 of people will immediately get a vaccine once it is available . That is kind of a low stat. Im quite surprised at that one. Jackie, thank you very much. Will the vaccines speed our economic recovery . To the cow guy ag optimist, scott shellady, Potomac Wealth Advisors president mark avaloen. Scott i know the answer, you think a comeback will rely a lot more than on the vaccine, right . Yeah i do. We have the antivacsers. Do you have to get it every year . There is a lot of questions out there. Were not going to have that trust a lot of people, not me per se, you know how it is. People have their masks on. Can see visibly wearing the immune system on your face. Even though youre outside, they stay six feet apart and do half mon around you Walking Around them. The level of distrust will be tough because they have been beaten up by the media last five or six months. When is the last time you will see 105,000 people in ann arbor for football game. The answer was a vaccine. There are too many questions. So yes, it will be part of the solution but it will be two, three, four years off, rather than back to normal day one. David mark, lets switch to the markets if we can because there is great concern among investors what is happening in europe right now. We had the spikes in infections. Not a necessarily spike in deaths yet. That is good news. Some people say that might be coming. It may be a lagging indicator. It is affecting one commodity in particular. I want to focus on that a second. Gold is down big time today, down almost 40 per ounce. A lot of people are saying because of the spike in the dollar. Look at that, now it is down 40. 90, well below that 1900 mark. The dollar meanwhile is surging because europe is in worse shape, not only with regard to spike in innexts but also in terms of their economic recovery. The question is whether theyre going in a tight lockdown again. The people in the uk say no, despite the spike in infections were not going into a deep lockdown. We may tweak the comeback but were not going to go in a deep lockdown again. How much of all of this is tied together, what is happening with gold, the economic progress and the spike in infections . Well i think economies have learned that a total shutdown which may have been merited when we didnt have a handle on this isnt really going to happen if we get round two. We have better treatments. There is lower fatality rates. We know the highrisk groups. So that should allow economies to stay open. On the gold issue gold traditionally had been a hedge against inflation. A stronger dollar subdues inflation and this slower, or lower Economic Growth doesnt bode well for future inflation. Look you have the fed pumping out enormous amounts of money just to keep the economy afloat. While there are pockets of price increases because of the dislocations of covid the reality is across the board inflation is not happening. David right. Energy is down. Other commodity costs are rising like lumber but it is not universal. So this disjointed recovery were have something subduing growth, subduing inflation and david gold goes down when the dollar goes up. That is also what is happening. That is affecting things for the reasons i mentioned. Scott, you have a lot of connection with the brits you lived there for many years actually. They have been through so much. What surprises me about the brits, how much they can take. They went through the blitzkrieg during world war ii. They went through a disasterous era of socialism almost killed the economy which only Maggie Thatcher could bring it back. They have gone through deadly smog in britain. They are telling me, the brits that i talk to were learning to live with covid. We may have a spike in infections but were learning to live with covid just as we lived with all the other disasters in our history. What do you think about their comeback . Dont forget they also lived with the plague a long time ago. David long time ago. Yeah. Theyre selling me the same thing as well. You know what . It breaks down very similarly to what we have here, right . They have a conservative party and liberal party like we have conservatives and democrats. A lot of exact things were seeing there were seeing here. One thing the viewers should take note of, last election they had, johnson, Boris Johnson is very much like trump. Jeremy corbin is very much like biden and bernie. It was a landslide to johnson. David right. Because the average, the decency of the average everyday brit came out. Theyre commonsensical. Stiff upper lip. We have to learn to live with this well carry on. Well not have socialism take over to ruin our lives t was a really good vote from the heart how they want to take this Going Forward and how they will handle the pandemic. I think they have been doing a great job. David you think the same is going to happen here in our election, right . 100 . That is why i brought it up. Thats right. David very quickly, one thing if scott is wrong, mark, one thing we may see from the democrats this wealth tax. It is really wealth confiscation tax, not based on income, how much you earned, how much you have, they would take a piece of that. Jamie dimons arguing against that, he doesnt mind a slight uptick in income tax or Corporate Tax but does mind the wealth tax. It has been tried dozens of times before and failed. Do you think the democrats woo go through with that . Jamie is right. Way too cumbersome, too many assets are not priced daily like publiclytraded stocks are. There is no mechanism in place to tax real estate, privatelyheld investments, privatelyowned businesses. What is ironic to me, we have a system that taxes assets. It is called the estate tax. David thats true. If they were serious about doing this, im not suggesting they should, simply use the mechanism, regulatory scheme in place called the estate tax as opposed to instituting something that would increase Regulatory Oversight costs immensely, slow the economy down. So estate taxes may be in vogue again. I think this is conversation is going to go. The other way theyre talking about is a nonstarter. David theyre talking about starting it, some of the leftwing is. The question whether biden can resist the leftwing. Mark, scott, i know i leave you with these depressing thoughts. I see you shaking your head. Be optimistic my friend. Cant believe it. David thank you, guys. Tensions between the u. S. And china flaring at the virtual version of this years u. N. General assembly. With President Trump and president xi trading virtual barbs. To the china learning curve author dan joseph. We rely a quite a bit here at fox business because of his expertise in the country. Dan, President Trump claiming china closed wuhan internally when still open to international travel. In other words they knew how dangerous the virus was. How transmissible it was. They closed it down to other sections of china. They kept it open to the rest of the world, they didnt want to suffer alone. They wanted to share the suffering with the rest of the world and they are responsible to a large degree spreading this virus. Other people like general jack keane who say the same thing. What do you say . Im not sure i would go that far. There is no question that china mishandled the virus in the early stages, frankly so did europe and we havent done that great of a job. It is cheer globally how you manage a pandemic is not something we mastered and chinas lack of transparency doesnt help the reputation. Im sure they did issue statements that were misleading however, i think it is an extra step to say that they intended to spread this. I dont think they had their hands on how impactful it would be either. Did they mishandle it is it yes. Was theyre lack of transparency and misleading david dan, it goes far beyond lack of transparency. Lets be straight about this they are jailing people. They threw into jail 18 years of hard labor a businessman who dared criticize president xi and their response to the coronavirus. There is a huge coverup going on. This is not just lack of transparency. This is a coverup of their role in keeping information quite evident and now jailing and possibly even killing people who speak otherwise. Thats more than just lack of transparency, isnt it . Yes. That is consistent what china has been doing, rolling back the little bit of Political Freedom they had six or eight years ago under the current administration, the xi administration. It is more of the same thing. I dont deny that. Theyre taking that to an an extreme frankly wasnt anticipated a few years ago. I think it will backfire on them. Yes, if you want to use more severe terminology, i dont disagree with that. The rollback in Political Freedoms is ugly in china. Im simply suggesting i dont think they intentionally let the virus get overseas. I think it was more combination of bad management and their desire to protect their reputation over everything else. That is all im saying. David pen again it look the like closing internally, opening externally. Nobody explained to me why that happened other than trying to spread it intentionally. Dan joseph, thank you very much. Great to see you again. Appreciate you coming on. Thank you. David restaurants like fat brands are still making deals despite the pandemic. The companys ceo is here. He is coming next. Still your best friend. And now your copilot. Still a father. But now a friend. Still an electric car. Just more electrifying. Still a night out. But everything fits in. Still hard work. Just a little easier. Still a legend. Just more legendary. Chevrolet. Making lifes journey, just better. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. My glookentertainmentourcts experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Six months, so the city is taking submissions from people who have ideas that might extend that Outdoor Dining season. Here are a few examples. You see shipping containers that people can stay with their own party in. Or iglooses, things of that nature, but problem is as michelle the owner here will tell you, you just dont have that kind of money right now. Exactly. We appreciate the ingenuity and ideas but at same time the financial feasibility of it is really not a reality for us. Reporter couple weeks ago we had some crummy weather in chicago. It wasnt really cold. You texted me in that time. Even during that week you were having trouble making payroll just because people were not eating outside. That could be a sign of things to come unfortunately. Absolutely. For us weve been able to sustain as you mentioned through the summer with these nine tables that we have outside. When we lose this, with people not being comfortable inside yet, the capacity being so limited for those who are it is just hard, 100 expenses on 25 occupancy is not a reality. Reporter im glad you mentioned that. Outdoor dining, capacity here is just under 40 tables or 40 seats i should say. Inside if they expand that to 50 it would make a big difference. Almost room for almost 140 on almost 150 seats. There is a lot more room if they just expand that Indoor Dining but as of right now, david, there are no plans to do that. That is really starting to concern Business Owners who at this point are essentially relying on things like this, these outdoor heaters. But in a chicago winter this is only going to do so much, david. David with all the cold, wet wind comes in off of the lake. An outdoor heater aint going to cut it. Best of luck. My heart goes out to them. Grady, thank you very much. Fat brands just completing its acquisition of restaurant chain Johnny Rockets for approximately 25 million despite the coronaviruss impact on the restaurant industry. Fat brand ceo Andy Weiderhorn joins us now. Good to see you, andy. Im wondering if there was a discount built into the Acquisition Price because of the pandemic . 25 million, clearly if it was before the pandemic you probably would have paid more, no . Thats right. Weve been trying to buy Johnny Rockets for three years. We had a long negotiation. The price was higher, a little lower. It was a little banged up. Were making investment for the long term. Were very excited about the brand. David involves franchises. These are franchises. If im a potential franchisee, thinking about this for years, saving up my dollars and cents, regular salary wage, business of my own, i would think now if i have the cash, now would be the perfect time to buy into a franchise. It will not get any cheaper, right . Youre absolutely right. Our phones are ringing off the hook for our different brands, fatburger, johnny rocket, hurricane, all these brands, customers are calling i want to be franchisee, start my own business. Work from home. That kind of stuff. It will be a liftoff period for franchises. David how many are available . How many franchise eyes given up because of the pang pan, because they bought in before the pandemic and taking a loss . How many franchises are available . Were not seeing too many closures across our brands, maybe one or two dozen out of 700. It is not a crazy closure rate given how bad things have become for the restaurant industry, but people opening new locations with brands that proven to work well. Brands resilient throughout the pandemic. Were fortunate were not in the fine dining category. Those poor guys are getting killed with dining room close sure. David a lot of the franchises have focused on takeouts and it is easier to take out a hamburger than obviously a steak dinner why the luxury people are suffering. I want to ask you, the pandemic is not over as we know unfortunately. Many people said once there is a vaccine it may be months, even longer before we go back to our regular dining habits, Outdoor Dining habits, how involved are you going to be the main company designing protocols for dealing with dining during the pandemic . Weve been all over it since the beginning. Look as you said just a minute ago on the other segment winter is coming right . David yeah. We are fortunate we have a lot of Outdoor Dining space up and down the east coast and west coast with our restaurants having out door patios, screen porches, things like that. Coaching franchisees, get heaters now. Dont wait until the fall starts or winter. Get plastic walls, try to warm them up. It will not work in every market but in most places. Delivery goes from 10 to 35 , up to 70 . That made a huge difference. Huge difference. That helped us get through it. You have to get ready for it. David i do. Theyre giving me a wrap, i have to ask, give you a platform, talk to governors and mayors not ready to open up talking about 25 indoor which