Squawk Pod

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The Retail Details: Supply, Demand, & Holiday Pressures 11/25/22 Nov 25, 2022

Show notes

It’s Black Friday! Retailers are ready for a weekend of holiday shoppers–both in store and online. CNBC’s Bertha Coombs reports on the brick-and-mortar shoppers, and former Macy’s President, CEO, and Chairman Terry Lundgren explains the consumer appetite for spending, even in such a pinched economic environment. Overseas, CNBC’s Eunice Yoon has the supply chain side of the retail story; she reports on Beijing’s “zero-Covid” policy and the protests that have broken out at Foxconn’s iPhone plant in Zhengzhou, China. Plus, Warren Buffett’s made some large donations in the holiday spirit, crypto exchange Binance is looking to lift the entire industry after its rival FTX prompted a sector-wide meltdown, and Elon Musk is rethinking the relaunch of Twitter Blue.

In this episode:

Steve Liesman @Steveliesman

Becky Quick @BeckyQuick

Bertha Coombs @berthacoombs

Eunice Yoon:@onlyyoontv

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

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Thanks (and Inflation) on the Menu 11/24/22 Nov 24, 2022

Show notes

The tale of 2022 continues to focus on record-high inflation, impacting business and consumers. The cost of food at home and in restaurants has surged this year, rising between 9.5 and 10.5%. On this Thanksgiving, we are grateful for stories like entrepreneur Cameron Mitchell’s. The owner of restaurants in 14 states and Washington, D.C., Mitchell has been a regular guest on Squawk Box since the earliest days of the pandemic in 2020, when he had to furlough thousands of workers. Mitchell tells Becky Quick that his business is back again, but these days, costs are a bigger concern than staffing and traffic. In “the worst cost environment” of his career, Mitchell is eyeing his margins and showing gratitude to his guests.

In this episode:

Cameron Mitchell @CMRColumbus

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie

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Ready, Set, Baste! Turkey Day Talkers: Flights, Frauds, & Frying Tips 11/23/22 Nov 23, 2022

Show notes

On the conversational menu this Thanksgiving: debating the character (and intentions) of disgraced FTX founder Sam Bankman-Fried, Disney’s new Avatar movie, China’s cycle of lockdowns, managing the holiday rush of travelers, and cooking the turkey to perfection. Galaxy Digital’s Mike Novogratz, a longtime crypto bull and billionaire with over $76 million in exposure to FTX, considers the winners coming out of the crypto exchange’s fiasco. CNBC’s Phil LeBeau has the traveler story from Chicago’s O’Hare International Airport, and CNBC’s Beijing Bureau Chief Eunice Yoon reports on another round of Covid lockdowns across China. Plus, Bill Nolan, an expert at the Butterball Turkey Talk-Line, has all the tips for a crisis-free, flavorful Thanksgiving meal. Happy Thanksgiving!

In this episode:

Mike Novogratz:@novogratz

Bill Nolan: @butterball

Phil Lebeau: @Lebeaucarnews

Eunice Yoon:@onlyyoontv

Andrew Ross Sorkin, @andrewrsorkin

Brian Sullivan, @SullyCNBC

Katie Kramer, @Kramer_Katie

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Oil’s Boomerang, Turkey Day Travelers and Icahn’s Stock Short 11/22/22 Nov 22, 2022

Show notes

Oil prices boomerang, after closing below $80/barrel for the first time since September. White House Special Presidential Coordinator For International Energy Affairs Amos Hochstein weighs in on the tapping of the strategic petroleum reserve, the rumors of OPEC+ changing output plans and global energy prices. Thanksgiving travelers should gear up for possible delays due to airline staffing, warns Dennis Tajer of the Allied Pilots Association, representing 15,000 pilots at American Airlines. Plus, Disney’s new Bob Iger era takes shape, FTX’s bankruptcy proceedings begin and legendary investor Carl Icahn gets in on meme stock mania – with a GameStop short.

In this episode:

Amos Hochstein @AmosHochstein

Dennis Tajer @DennisTajer

Melissa Lee @MelissaLeeCNBC

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

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Disney’s Battle of the Bobs 11/21/22 Nov 21, 2022

Show notes

Bob Iger is back! Disney’s board has decided, shortly after renewing CEO Bob Chapek’s contract, that his predecessor Bob Iger is better suited to lead the company than his handpicked replacement. So Bob (the first) is back, and it’s awkward for everyone. New York Times columnist and “Disney War” author James Stewart teams up with leadership expert Jeffrey Sonnenfeld, from Yale’s School of Management, to discuss the succession mess at the House of Mouse, and what investors have ahead of them. Plus, the FTX mess continues in the Bahamas. CNBC’s Kate Rooney reports on the now shuttered FTX HQ in Nassau, and all the fallout for crypto investors and the man that triggered it all, Sam Bankman-Fried.

In this episode:

James Stewart, @JamesStewartNYT

Jeff Sonnenfeld, @JeffSonnenfeld

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

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Sneakerhead Wardrobes, Washington’s Shakeup, & Taming the Wild West 11/18/22 Nov 18, 2022

Show notes

In the wake of the midterms, a leadership shakeup in Washington: Nancy Pelosi will step aside from her leadership post, and Rep. Kevin McCarthy (R-CA) is likely to take her place as Speaker of the House. FTX’s fiasco has triggered a crypto meltdown, and the mistakes of its leadership have renewed urgency for regulation in the space. Former SEC enforcer Lisa Braganca explains how regulators can protect crypto investors from future collapses like this one. Plus, in the reign of Elon Musk, Twitter is undergoing major layoffs, and, a story for the sneakerheads! Foot Locker’s new CEO Mary Dillon discusses her company’s big quarter and the trends giving a new life to “sneaker wardrobes.” Have a long memory about corporate name changes like Joe Kernen? Check out this classic CNBC report on retail bankruptcies and how Venator became Foot Locker.

In this episode:

Lisa Braganca: @LisaBraganca

Mary Dillon:@Footlocker

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie

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CZ and SBF: Spilling the Alphabet Soup of a Crypto Catastrophe 11/17/22 Nov 17, 2022

Show notes

Today's Squawk Pod is brought to you by the letters CZ, SBF, FTX … and BUSD? AML? There is, seemingly, no end to the many, many abbreviations, initials and vernacular related to the collapse of crypto exchange FTX and the aborted deal by the world’s largest crypto exchange, Binance, to buy it out before bankruptcy. Binance CEO Changpeng Zhao “CZ” slams the behavior of his one-time friend and professional rival, FTX’s former leader Sam Bankman-Fried: “I’m just shocked.” CZ tells his behind-the-scenes story of Binance’s due diligence into the books at FTX and decision to walk away from acquiring the platform. Squawk Box anchors Joe Kernen, Becky Quick and Andrew Ross Sorkin get into all the tweets, the tokens, the DMs, the PR stunts, and what’s next for folks at places like the SEC and the DOJ. Plus, the Republicans make a House majority official and Ticketmaster’s Taylor Swift fiasco hits Swifties of all generations.

In this episode:

CZ, @cz_binance

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Staying Home or Hitting the High Seas: Lowe’s & Royal Caribbean 11/16/22 Nov 16, 2022

Show notes

Despite a housing slump, Lowe’s CEO Marvin Ellison says that the home improvement business is going strong. In an interview after the company’s earnings beat, Ellison highlights the key demographic heating up its home-buying: millennials. For Royal Caribbean, demand is strong, too; CEO Jason Liberty recalls the rough seas during the height of the pandemic, but underlines the travel and cruise resurgence. Plus, former President Trump has officially announced his bid for the White House in 2024, and NASA’s Artemis 1 mission heads to the moon!

In this episode:

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Charlie Munger: Berkshire, Billionaires, & the Blockchain 11/15/22 Nov 15, 2022

Show notes

Berkshire Hathaway Vice Chairman Charlie Munger, at 98, weighs in on the market’s latest hyped asset–and its collapse: crypto. As exchange FTX crumbles and its CEO faces regulatory and social scrutiny, Charlie Munger, a longtime partner and friend of Warren Buffett, compares this stock market story to all the ones he’s seen before. In an extended interview with Becky Quick, Munger considers the real value in the blockchain, examining the claim that bitcoin is the “new gold.” Plus, he might not tweet, but the seasoned billionaire has thoughts on Elon Musk and on Tesla, his “minor miracle.”

In this episode:
Joe Kernen, @JoeSquawk
Andrew Ross Sorkin, @andrewrsorkin
Becky Quick @BeckyQuick
Katie Kramer, @Kramer_Katie

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Black Panther Roars; Biden and China Shake Hands; Ari Emanuel 11/14/22 Nov 14, 2022

Show notes

Black Panther: Wakanda Forever breaks the box office, showing the second highest opening weekend of 2022 and grossing $180 million domestically. Endeavor CEO Ari Emanuel joins the team to give an update on the appetite for media content as many companies are tightening their spending; Emanuel also speaks to recent controversies of anti-Semitism from celebrities Kyrie Irving and Kanye West. The collapse of crypto exchange FTX continues to shock investors and possibly exposes founder Sam Bankman-Fried to criminal liability. Plus, President Biden meets with Chinese President Xi Jinping today to discuss the countries’ tumultuous relationship. The New York Times Foreign Affairs Columnist Thomas Friedman gives his take on the critically important relationship between the U.S. and China, China’s actions towards Taiwan and the possible future economic impact of intervention.

Thomas Friedman, @tomfriedman

Kayla Tausche, @kaylatausche

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.