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tv   After the Bell  FOX Business  March 17, 2020 4:00pm-5:00pm EDT

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the time-being. [closing bell rings] liz: rich weiss, come back, i'm talking about next couple days. the markets close up 1045. fire up my twitter feed. liz claman. i will let you know how the futures oil and goal open. melissa: immediate relief to americans. stocks surging support as white house urges sport to individuals as part of a relief package. the dow closing down, see that sorry, up, 1042. we're in a new room. i can't see the board. i'm melissa francis. connell: i'm connell mcshane, scared me there for a moment. scary couple of weeks. s&p 500, nasdaq, also up big time, up 6% there on the s&p. this follows the worst day for the markets since the crash or the dow at least since the crash of 87. we get the snap-back rally. as we get into the fox business team coverage. we have a lot of headlines today
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to go through. jackie deangelis on the floor of the new york stock exchange. chad pergram has plenty of news on capitol hill we'll get to. first hillary vaughn live at white house. hillary? reporter: connell, treasury secretary steve mnuchin says he wants to put cash in people's hands, as part of a economic stimulus package tied to the coronavirus crisis. meeting with senators on capitol hill asking for $200 billion for these cash payments would be a check or direct deposit, saying he wants to get cash into people's hands in two weeks. i asked secretary mnuchin if they're looking boosting the restaurant industry in addition to airlines as part of an economic relief package. mnuchin says they will be rolling out special program that helps small and mid-sized businesses restaurants an franchisees will be a part of that. >> this is not like a normal economic situation. government has requested that parts of this economy shut down
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and the president is determined, you can think of this as, business interruption money. the president is determined we will put money back into this economy to protect hard working with small businesses. reporter: president trump meeting with the executives from marriott, disney, universal, mgm and best western. president trump was told they have seen their business fall by 90%. president of hilton said he has been in the industry 35 years around tells the president he has not seen anything like this before. >> you're in many countries and how are you doing in many countries? >> if a few days or a week, we'll be running 10 to 15% occupancy. >> all over the world it is disaster? >> all over the world it is disaster. not one part of the world that is not severely impacted. reporter: many ceo's are telling the president they have to lay off tens of thousands of
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workers. they need economic relief to make sure the employees don't stay out of work as a result of this crisis. connell: hilton ceo's comments put things in perspective. thank you, hillary. more on how the economic relief package is playing on capitol hill and fox correspondent chad pergram joins us. what is going on, chad? reporter: treasury secretary steve mnuchin met with senators over lunch. he wants lawmakers to come to an accord quickly. before we came on the air the treasury secretary spoke on the phone with house speaker nancy pelosi for 25 minutes. here is the problem, connell. the senate has not cleared two bills approved by the house of representatives. there was a big bill they approved in the wee hours of saturday morning. they had to do a technical fix bill. sent them over to the senate yesterday. they are stuck. of the senate majority leader mitch mcconnell is trying to pry those bills loose. listen. >> number of my members think there were considerable
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shortcomings in the house bill. my counsel to them is to gag and vote for it anyway even if they think it has some shortcomings and to address those shortcomings in the bill we're in the process of crafting. reporter: mcconnell says the senate will not leave until they pass new bills and senate will move what he terms, quote, warp speed for the senate. he wants solution from republican senators divided into three teams to write the new bill quickly but the legislation has to have democratic buy-in. you must get off votes in the senate to overcome a filibuster. >> people who are hurting for economic reasons that they have been laid off, they're not getting paid, they can't work, because their kids are at home and can't work, this is job number one, targeted, bold, quick, strong, aid. reporter: now in consultations with nancy pelosi she wants to expand the scope of medical leave, help independent workers in the gig economy like uber drivers and also give special
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benefits to health care workers and first-responders. so if they get this piece of legislation this, new bill, through the senate, they hope maybe sometime later this week, they would then have to send everything back to the house of representatives but they ban to have complete universal dial-in between both house and senate, democrats and republican so they can limit the amount of time members have to spend in washington. in fact they haven't even had a full roll call vote in the senate so far this week because they're trying social distancing. they're trying to keep members out of the senate chamber for prolonged periods of time. mitch mcconnell may talk about scenario, go with the votes, bring them in smaller groups, so everybody doesn't have to be in the same room at same time. connell: they can't vote remotely. they have to be there fiscally to do it. chad pergram on capitol hill. melissa. melissa: the dow burning back after briefly dropping below 20,000 earlier.
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jackie deangelis at the new york stock exchange. wild ride today, jackie. reporter: good afternoon, melissa. that is right. we digged into negative territory. slowly clawed our way back. we came back to almost session high with the dow is up to s&p 500. adding 6%, 143 points this was a sigh of relief after the massive day yesterday. we dipped negative, a lot of traders saying testing that negative level, dropping under 20,000 was exactly a test. sometimes the markets will do that before they actually go to the levels and close there. it is something to think about as we continue to watch back and forth. seems like we have the dramatic sweeps to the downside. buyers come in. you get positive headlines coming out of the administration as we did today. some of the confidence is restored. so headline driven that one headline that is can derail that confidence can be a problem. i want to draw your attention to the biotech stocks because they are seeing a little bit of a
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surge today. moderna, regeneron, pfizer, these are all companies that are working on things related to the coronavirus and seeing positive developments there. they were up 11%, regeneron saw the gain today. look at oil prices. wow, $27 level, this is really dramatic. we haven't seen oil down here since the united states really started producing a lot more with the shale boom years ago which took oil prices from over 100 to 25-dollar level. i mean i almost cannot believe we're back there as a result of this virus but concerns about demand do indeed have us there. the final point i will make, it was about retail and restaurants today. that tri-state mandate you have to close a lot of these places down to take-out only, that seems to be spreading across the country. people like mcdonald's and wendy's saying pick up and take out only. you will not be sitting down to dine. retailers like macy's nordstrom,
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saying temporarily we're shutting our stores. melissa: absolutely, jackie, thank you. connell: we have someone to provide insight all of what we heard. dan puts wall street and washington together as well as anybody. on the mnuchin comments today, trillion dollars plus in stimulus, but specifically on the idea of sending checks to americans, we don't know dan, how it will be structured, who is in, who is out, good idea and how should it be structured? >> from a bigger picture perspective stocks will be fighting against a very significant shock and awe campaign from fiscal and con mayor at this policy. these are huge numbers that are being thrown out there on the fiscal policy side. but to your point it is very important we get that right. what is in that fiscal policy package? because one dollar of tax cut is not the same of one dollar rebate and not the same of one dollar of government spending. my understanding this will be 250 billion-dollars of checks that will be sent to, what they
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call means-tested. so it will be income limited, on who will receive the check f it continues to last, it will be another $250 billion comes after that from the kind of refund side. connell: any idea where the income cutoff will be or should be from what you're hearing? >> first smart for the administration not to put the number out. why don't you let congress figure that out next couple days. the details will have to be hashed out. here is a big issue, what i would urge the administration to think bigger on. you cannot quarantine up 40 or 50% of the population. their consumer confidence is also declining. their stocks holdings are also declined. we want to make sure everybody is participating in that. that income limit should be as generous as it could be. when we come out of this, we'll need to rip roar the economy. only way to really do that, to have everybody involved. connell: somebody suggested you give it to everybody, dan.
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you have a big public program or get out, use bully pulpit, if you have the means to give this money away do that try to increase charitable giving, right? >> absolutely. not everybody will need this. 95% of americans will come out with a job and consumer confidence is declining in nightly numbers. one you deliver broad tax cut to american workers. create a small business facility for owners to deal with layoffs. targeted industry to those that most need help, industries, i'm talking about one or two at most. fourth you will have to come around to say what we need to do with the safety net? something chad talking about in the introduction of this segment. unemployment insurance and food stamps. third, larger you have to get the health policy response
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right. if you get that the markets will be able to start finding a bottom at some point and be able to discount that we're probably still couple weeks away from it. connell: couple weeks away. there is no way, as we hear about fedex no way to have visibility. that is the problem. dan, thank you for perspective. melissa has the news. melissa: fox news alert. fedex reporting third quarter results. go to jackie deangelis with the number. what i see they will pull back on forecasting, is that right? reporter: they're suspending the 2020 out look as a result of the coronavirus but the stock is trading up in the after-hours, for the third quarter it was beat on revenues, $17.5 billion. the earnings came in line with the estimates, $1.41. a lot of businesses right now are tentative. they're worried about volumes. they're also worried about employee, staff, how they will have to manage their business as a result of this virus.
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it caused so much uncertainty. we've seen other companies come out to say that too. look, things are pretty good right now. but at the same time we don't know what will happen. so that is echoing that sentiment right now. melissa? melissa: jackie, thank you for that. let's bring in today's market panel. gary kaltbaum, kaltbaum asset management fox news contributor and jason rotman from everplus capital. jason, start with you. fedex can't see into the future, they don't know what will happen. at the same time you saw the stock pop. fed exwill benefit no matter how you slice it. everybody is going, if you need something you will get it shipped. not likely to go get it in so many cities later on you can't go in and get anything. what are your thoughts? >> in addition, fedex, melissa, i calling safe stocks and industries, new market.
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delivery companies, fedex, healthy food conglomerates, people share characteristics focus on what they need, versus what they want. if we have time we can talk about some of those companies. fedex will benefit from this unfortunate situation. melissa: big picture, gary, talking about the announcements made today, that credit facility from the fed. that is the thing you heard kevin warsh from the federal reserve board campaigning for that in "the wall street journal" yesterday. now we hear a response that there will be a credit facility, where small businesses can go, meet your payroll, meet your rent. i was talking to a small business owner today, she was saying she doesn't know how she would do either of those things, hadn't heard about this yet. they need to get the word out. when people come back out of the houses you want something to be there. >> 30 million small businesses in this country, melissa, makes up 99% of all businesses. hive been speaking to a lot of
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them week. i can't begin to tell you how worried and scared they are. not only businesses have the business drop off the ledge, they can't plan for the future. that is big and small going forward. so yeah, this is necessity. you know, when the president or anybody has these pressers, first thing they should start with here is the number or the website to call if you are a small business and you qualify. this is a must. small businesses are the engine of this country. i know we talk about all these big businesses but i got to tell you, aunt mary and uncle bob on the corner will need some help, i can promise you that. melissa: you are 100% right. that is the very next thing needs to happen. they need to say here is the phone number. , here is the email, here is the website, figure it out. we are here to help. gary, jason, thank you to both of you. connell: more than 5700 cases around the country as the
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coronavirus outbreaks spreads. 49 states, new york, washington state, top the list of most confirmed cases. we have the latest developments on the pandemic as we continue through the hour. melissa: plus the nation's first hospital dedicated solely to coronavirus? but some state leaders are still sounding the alarm on hospitals being unprepared. connell: macy's joining a growing list of retailers closing stores nationwide, to help try to curb the spread of the virus. the move goes into effect at the end of business day today. includes bloomingdale locations. more on the impact on business and how consumers can pitch in to try to help across the u.s. we'll be back. ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun
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♪ we need someone to lean on ♪ blow a kiss into the sun ♪ all we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪ ♪ ♪ ♪ ♪ ♪
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melissa: hunkering down in isolation, new york city mayor bill de blasio warning new yorkers earlier this morning to prepare for a quote, shelter-in-place order, that he said could come in the next 48 hours. but governor andrew cuomo said, new yorkers could see the number of cases peak in 45 days but he is the only one who has the authority to quarantine a city. a city can't do that for themselves. he didn't is h see that happening anytime soon. there is a battle going on there. new york city councilman steven levin is calling for a new york
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city shutdown joins us now. what do you think of the back and forth. >> thanks so much for having me. so, i think the data is actually incontrovertible. we have multiple models running, all backed up by what we've seen elsewhere around the world, whether that is china, italy, whether that is spain, that we have to shut down and shelter in place right now. should really be giving new yorkers maybe, 12 to 24 hours to get their stuff in order but -- melissa: can i ask you, did you hear what the governor's response to that was? >> no i did not. melissa: unless everybody does it, it doesn't help because everybody will get on the road, they will go stay with their cousin in queens because they don't want to shelter in place or whatever it is. so he said unless we do it in a uniform manner, he is not saying that it is not the right thing to do. kind of like closing schools. tough look what is the problem that will bubble up as a result
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of us doing this. >> yeah. melissa: that was his argument, we have got to do it together. what do you think? >> point, the point with covid-19 it increases on a exponential chart and so every day actually matters in this fight. we could have done things a week ago that are would be totally useless now. we could have done things five days ago or four days ago that would be totally useless right now because it increases on that exponential chart. every interval it doubles. so, just to get a little bit wonky here, what we see basically is the number of cases are going to increase by a factor of two roughly every four-days, okay? so if right now, as just reported -- melissa: we got the math. it is a math channel. we're with you, we believe you. >> so let's look at the math by, we're talking in three weeks likely to be close to a million cases in the united states.
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melissa: but what you do about the fact that if you don't do it everywhere it won't work? should the president to tell everybody shelter in place? >> should go state by state n case of something like new york, you have urban centers. probably more impactful to shelter in place. if you're in a rural environment, you kind of naturally don't have a ton of personal interaction. i went to fill a prescription before coming on the show here. i went on 10th avenue in brooklyn. i live in williamsburg. it did not look like unusual tuesday afternoon. melissa: really? >> that's right. melissa: manhattan, you could shoot a cannon down the center of the street. in manhattan people are inside and sheltering in place. so i think there is very, very few people out. i wonder if, do you have the same rules about the restaurants and the all the stores here are closed? look we're, thank you so much for the shot. we're showing everybody
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sixth avenue right now. this time of day, this is rush hour. those sidewalks would be jam-packed. the street would be full. in new york people are really, in manhattan at least, you know, they're inside. >> yeah. melissa: that is not what is happening in brooklyn? >> that is not happening in brooklyn. that is not happening in throughout the city. data put out by a publication called the city in new york, it showed reduction in mta turnstile swipes around the city. you're right, in manhattan there was between two friday asking a, last friday, 63% reduction in wealthier parts of new york city. manhattan. you look at district i represent which is brooklyn, brooklyn heights, along the l train into williamsburg, stuff like that. but if you look at data around outer boroughs, bronx, queens, south brooklyn, you see that the reduction is only about 17%. now what that says, that doesn't
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factor in yesterday and today there was more after lockdown measures in place. but what that says, that people that can afford and are able to work from home, they will work from home. companies are able to do that. but those people that can't, unless you have a full shutdown they're not going to do it. >> i hear you. only thing is you just said data from yesterday. you know sixth avenue didn't look like that yesterday. it has been since last night when everything got shutdown at 8:00. i don't reject your premise. >> one last thing to mention. impact on hospital system is lagging indicator because it is indicator what your infection rate was seven days prior. so basically the real message is this. if we don't stop transmission of virus in new york city, 23rd of march, six days away, by the first week in april, we will see our hospital system be overrun and -- melissa: 100%. >> if it is overrun, it will get
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over run in exponential fashion. it will be a flood. not going to be a trickle. it will impact communities. melissa: governor cuomo said that repeatedly today. you are 100% right. everybody is in agreement. >> we can't be a day late and dollar short. should have done it days ago we have to do it right now. melissa: thanks for coming on. hope you come back soon. connell. connell: we have more by the way. major hospital executive coming up later in the show. melissa: important point. connell: very important one. a lot of points are made important. four members of the brooklyn nets basketball team we learned who testified positive for covid-19. the team put out a statement about that. they didn't name any names but what they said in the team statement only one of the four is exhibiting symptoms. the other three don't have any symptoms at all. they're presently isolated, under the care of team doctors but it may speak to what happens when you're testing a population. in this case a small population of nba basketball players in new york. four members of the brooklyn nets positive for covid-19.
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in a moment businesses responding to the outbreak. we'll look how corporations, also smaller local companies are helping communities around them, whether it is free food services or food donations. a lot of good work is being done amidst all of this. we'll have some of it for you when we come back. agricultural . because your investments deserve the full story. t. rowe price invest with confidence. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to.
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at fisher investments we're clearly different. connell: this issue of protecting elderly shoppers. what developed grocery stores are setting specific times so that older more vulnerable people can get out and shop, that is supposed to limit the risks from the general public during the coronavirus outbreak. kristina partsinevelos at a store doing this north of new york city. she is in ardsley with more. >> they're sanitizing the court carts before they come in.
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you can go ahead. everybody is given rubber gloves to enter the store. they have a line to encourage social distancing. so we'll enter the store to see how it is working. they have cleaning products here. they create you, the staff. in the morning they allowed at risk customers as well as the early derly, supposed to be -- elderly, supposed to be older than 62 give or take. they can stand in line, get easy access so not. of a rush. i spoke to a few customers about that experience. here is what they had to say. >> i haven't had a chance to feed my own family. i was up at 5:00. i couldn't go back to bed because i was worried about what are we going to eat? got here early, got in line. >> i worry about getting sick. i don't think it will kill me. i don't want it to affect my wife. reporter: everybody taking precautions including the store. they have lines formed over here, lines over there, so nobody pass as line so they can
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maintain social distancing. staff is working around the clock to restock. you can avoid the panic hoarding. there is lots of toilet paper. lots of cleaning products available. then they have these signs here, maintain three feet of social distancing. obviously a struggle for somebody like me that really likes to touch people and say hi. you can see they are well-prepared. this is example of a family run business that is taking initiative to help the community, help those like the elderly, help those that are at risk. any type of breathing issues or anything like that, so they can come to the store and shop here early. this throughout the day they're sanitizing absolutely everything. this is good example after family-run business trying to do their part. ba to you. connell: really good job getting shelves restocked which was a big problem over the weekend. kristina: aim i am amazed.
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thank you, kristina partsinevelos. melissa. melissa: uber and lyft stopping carpool rides to stop spread of virus in canada. they are waving 100,000 -- to alleviate financial challenges from the outbreak. that is a huge one. a lot of restaurants saying they take 30% on orders. they can't afford it. connell: companies doing it, i guess what they can. everybody is doing what they can. historic first. meantime one facility in boston dedicated to solely to virus patients this as hospitals across the country as hospitals dealing with massive shortages. we'll talk to one of the companies about that next. melissa: one company is stepping up to ease the pain for their employees and displaced college students. connell: universal pictures announcing it is planning to release some of its newest films in the middle of theatrical run
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it would create a special ward to create people with the coronavirus. molly line with details. reporter: good afternoon, melissa. the carney hospital, this is in the dorchester neighborhood of boston has announced their plan here by the creation of this is to only treat patients that have actually been diagnosed with covid-19. so they created a very specific ward to deal with these specific kind of patients. they say they have been prepped, they're preparing, they're ready for an influx. they're calling this a dedicated care center. they believe the first of its kind in the nation. patients confirmed to have covid-19 needing hospitalization will be directed here from other steward health care facilities. there are 10 steward facilities in massachusetts. they will have people with the coronavirus away from the other patients in the hospital. the center will have negative pressure patient wards, isolated protocol, no sharing of rooms. 11 beds are ready.
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supplies are stockpiled including ventilators for patients and gear for the medical team. >> we have more than adequate supplies, personal protective equipment, including those gowns, gloves, masks, face shields. we have all the equipment we need. reporter: also the front line efforts are underway here at carney hospital. you can see the red tent over my shoulder. if you have a doctor's order you can come to get the covid-19 test at your doctor's, at your doctor's order. you don't actually have to have an order specifically from the steward health care facility. this is one of the testing facilities around the state. steward has several around this hospital and other hospitals as well. melissa: good stuff. molly line, thank you. connell: on that very subject, new york governor andrew cuomo talking about the need for more hospital beds. here he is. >> the, they are expecting as many as 55,000, to 110,000 hospital beds will be needed at
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that point. that, my friends, is the problem. connell: the state's capacity is 53,000 beds. so when the governor is talking about that, even best case scenario he is laying out or the least worst-case scenario 2,000 short, right? we have a ceo non-profit hospital system operating hospitals across the midwest. one of the hospitals treated very first coronavirus patient here in the united states. dr. hoffman, molly line is talking about pop up care centers. the governor referring to idea that we don't have enough beds particularly in icu. the idea thrown out, what still needs to be done so we don't have the system being overwhelmed? >> we're two weeks in front of the rest of the country, right? we've been talking about a lot
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of issues about icu beds and hospital beds a couple weeks ago. we've been planning. i think the rest of the country really should be holding its breath and watch what happens in the northwest as we're really going to be able to see whether that rise in cases happens here. we know where every haven't late tore is in all of our seven states. we have looked at surge capacity in terms of taking over other rooms that we need to convert into icu beds. we're ready all over this. it will be interesting for the rest of the country to see how we respond to it and what happens. we're just hoping that some of the measures we've taken, social distancing all those things, will prevent, at least attenuate the surge we're expecting to see in the next two weeks. connell: that all and dr. fauci talked about it, that leads to called florida thenning of the curve people mentioned over next
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few weeks we get through the first wave, the system won't be overwhelmed. that graphic shows it to some extent. what are you worried about? is it beds, ventilators, is it masks, a combination of everything? >> what i call the big three. first of all the protective equipment. in certain hospitals we're down to one-day supply. so the protective equipment is critical. the second issue that we have is again, more and more testing that we need. the third is personnel. you know, our folks have been at this, we hope we have enough technicians, respiratory therapists an doctors. connell: we saw in connecticut, 200 nurses off the job while they wait to be tested because they may have been exposed. how is your staff doing? >> same. we have a lot, absentee levels are two times. what we're really screaming about we have to get folks
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tested so we know from the folks that we think have covid-19, that we can actually test them and make sure because otherwise we're quarantining a lot of our workers and a lot of folks with them. so they are really trying to get in front of that as we can. in our statement we lessened the licensing requirement. we'll be able to take nurses from montana and washington and oregon to move them into washington here. we're looking at retired nurses, retired doctors, folks like myself, that still have the doctor's license pull them on front lines. connell: would you personally go back and help out. >> we're there. i was with a group of my people downstairs. believe it or not, they were manufacturing shields and putting them together because our supplies of face shields are inadequate. so we have our people down in the corporate headquarters trying to put those together,
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wow. everybody is pitching in doing their best. as you said trying to avoid the worst. we'll know some in the next few weeks. dr. hockman, thanks so much. >> melissa: target reducing store hours and setting up dedicated shopping hours for vulnerable americans. the retailer close all stores 9:00 p.m. daily. first hour of shopping each wednesday will be reserved for the elderly and those with underlying health concerns. good for them. coming up no shortage of loaf and care. how one small business helping workers and others in need in time of crisis. they answered 410 questions in 8 categories about vehicle quality.
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and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room. in the transportation industry without knowing firsthandness the unique challenges in that sector? coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. that's why i go beyond the numbers.
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it's our most dangerous addiction.
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and to get the whole world clean? that takes a lot more than an alternative. so we took our worst vice, and turned it into the dna for a better system. materials made from recycled plastic woven and molded into all the things we consume. we created bionic and put the word out with godaddy. what will you change? make the world you want. connell: so amazon made an announcement, it will only accept shipments of essential goods at warehouses that will be for next three weeks. it is giving priorities to household staples, medical supplies as the u.s., uk warehouses dealing with a crazy surge in demand for orders because of the virus outbreak. david asman joins us ahead of "bulls & bears" at the top of the hour. you know, if you or i want a new charger for iphone, that is one thing, but somebody might
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need something important. >> priorities are important. i think americans understand. this is, this is like a time of war. it may be a mini war, as the president said, our enemy is not a human being or a country, it's a virus so it is a strange war but it is kind of a war so when you're in wartime you have to prioritize. most americans understand. by the way amazon will be hiring 100,000 people. that is taken a lot of strain off some people who might be out of work. connell: i mean that is all you see out there is people delivering, by the way doing good work, getting important things to people. what do you have at top of the hour. >> andy pus der. knows all about it. -- former head of cke restaurants. brad wenstrup, knows about medicine. weigh as physician. knows about congressional spending side of the issue and medical side of the issue. connell: we have a few doctors down there. a couple. >> barosso.
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connell: thank you, david. see you guys at top of the hour. melissa? melissa: small acts of kindness. how one company is helping uprooted college students amid the pandemic. that is next. ...
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can we go get some ice cream? alright, we gotta stop here first. ♪ ♪ from smarter atms, to after hours video tellers ♪ ♪ comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. hi there. how are you? do you have any lollipops in there? (laughing) no, sorry. we're helping all kinds of businesses go beyond customer expectations. how can we help you? who stood up. who stood strong. who demanded to be seen. to be heard. to be counted. learning about their courage and grit... ...inspires us to pass it on...
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melissa: stark new reality small business owners are hurting in the midst of this pandemic. what are finding a way to give back, including owner of downtown cavo long island -- cafe on long island, we just lost his shot. he takes left over food they are not using, freezing it bringing it to pantries. he has people on payroll who are not making the tips, he has to pay rent and make his payroll and do all these things, he is
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finding a way to give back, it is that in a nutshell story of people who are hurting right now, we heard about the line of credit that the let businesses like that get access to credit directly from the fed. at a low rate to make the short-term payments, hope feltel that help people. >> they are able to do good in their communities, it is important to bring the spores to people, maybe it would inspire someone else, but i can still help people. connell: other thing, a lot of guests. it is tough to get the connection. colleges in country a lot of families are have students coming home, they have to pack up and leave campus in a moment's notice. umall iu-haul is helping studeno
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have nowhere to go, nowhere to put their stuff, 30 days free storage. same idea? step up to the plate and to something here from the business perspective. >> absolutely, my grandparents started u-haul 75 years ago on basis of people needed help, which is true today, for the college students, anyone in the united states and canada who needs any mobility solution. u-haul has tools, expertise, and desire to do that our message to americans and canadians, we got you. if you have needs we're here to serve. connell: a lot of kids. it was really quick too. they had to make the decision. >> yeah. connell: would you allow it to go on longer? already great, to go 30 days. kids will have to deal with it probably until next school year. >> we have a small company part of u-haul, college
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that moves students to and from college and universities. we are getting quite a variety of different scenarios, whether people say there. some schools are asking students to leave immediately. we're seeing everything, we're kind of you know playing this -- will most day-to-day. certainly week-to-week. and i think we'll do what the country -- customer demands, we have always been a company driven by do what customer wants and needs, and it will turn out okay for us. that is how we approach this 30 days free is our typical response to natural disaster this a first time we've done it. nationwide, and it just the right thing. connell: a lot of firsts here, people are trying to figure it out, while i have you, top story is what government is doing for business or trying to do. you say this is third generation
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for you, u-haul is a family business. >> yes, sir. connell: what do you think role of government is in helping businesses whether yours or others to help get through this. >> a great question. certainly above my pay grade. but, i'll answer, i think that first thing they can and should do lower regulatory barriers, and do things that help companies provide their core products and services. free businesses up to do that i think that industry it a little bit different. but i remember hearing stories when i was a kid, you mentioned this is a family business. i remember hearing stories about the gas quote, unquote crisis of 70s, certain vehicles license plates were outlawed from driving, u-haul was exempt from that, there was the kind of
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appropriate response. but, you know, mobility needs of americans are like a essential services. i would not put myself on par with first responder, maybe a second responder, we need to provide the services, if you need them badly, and we're going to deliver. connell: thank you so much, stewart. terrific program to help college kids, we'll talk again, hopefully down the road, good luck. >> thank you, sounds great. connell: u-haul, melissa. we good through another day. the day that realize that there will be some sort of a backstop from government, just trying to take shape. or starting to. melissa: really important announcement from defense department, they would wo releae masks, they have ventilators. we know that national guard will come in some spots to help build some temporary hospitals.
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or army corps of engineers, we talk about these problem every day. they are taking them on. connell: thank you, "bulls and bears" right now. david: a full court press, to rescue the economy from the coronavirus. president trump today saying he plans to quote go big, and he said he is doing it with combination of handouts and bailouts, including sending checks to americanser who hurting financially. >> we giving relief to affected industries and small businesses, we're ensuring that we emerge from this challenge with prosperous and growing economy, that is what will happen. it will pop. one day we'll be standing possibly hire here, we'll see, , we won, we're going to win, i think faster than people think. david: the markets liked what president of the selling, dow up more t


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