Musk’s Stock Sales; Pfizer’s Covid Pill; Slack and the Newest Normal

A group of Black business executives are urging the rest of corporate America to oppose legislation aimed at restricting voting access, following a new law in Georgia that critics say disproportionately hurts voters of color. Merck CEO Ken Frazier and former Chairman and CEO of American Express Ken Chenault led a group of executives in publishing an open letter in The New York Times pushing Wall Street to wield its power. Frazier and Chenault discuss the effort to rally opposition to legislation in Georgia and 43 other states, and they discuss corporate America’s role in speaking out against voter suppression. Frazier and Chenault consider vocal opposition in the C-suite an obligation to morality and to democracy, and they underline the significance of this moment in U.S. history.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

31 Maalis 202128min

Mystery art collector MetaKovan spent $69 million on Beeple’s NFT in mid-March. The man behind MetaKovan and NFT collection Metapurse, Vignesh Sundaresan, joins Joe, Andrew, Becky, and CNBC’s Robert Frank to explain his bet on blockchain-based digital art. Wall Street is still unearthing parts of the Archegos Capital forced liquidation fiasco, which prompted stock sell-offs and major losses for big banks. The latest chapter: questions about a charity run by former hedge funder Bill Hwang, the man behind the swaps and leveraged holdings that triggered the drama. Plus, documentary filmmaker Ken Burns is releasing a new series, “Hemingway.” He offers a peek into his newest work and shares his perspective on this particular moment in history, as colored by decades of documenting all things Americana.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

30 Maalis 202135min

Family office Archegos Capital was forced to liquidate tens of billions of dollars in stock holdings, sending U.S. media stocks and Chinese tech stocks into selloff mode, and leaving big financial players on the hook for billions. Archegos founder and former hedge funder Bill Hwang is at the center of the Wall Street whirlwind; Joe, Becky, and Andrew track the series of falling financial dominoes that led to the ViacomCBS, Discovery, Tencent Music, and Baidu losses, from swap strategies and over-leveraged books to block trades at Goldman Sachs and Morgan Stanley. Former Principal Deputy Director of National Intelligence Sue Gordon considers the implications of the liquidation trade for the rest of the global financial system. Amazon workers in Alabama are voting on a union contract, and Insider Inc. CEO Henry Blodget discusses how the results could impact the company and other workers across the country. Plus, the cargo ship in the Suez Canal has finally been freed. Now, the world is set to assess the damage.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

29 Maalis 202134min

Coworking company WeWork has announced it will finally go public via SPAC merger with BowX Acquisition Corp. WeWork CEO Sandeep Mathrani and Bow Capital’s Vivek Ranadive discuss the deal and their bet on an office space resurgence post-pandemic. Twitter, Alphabet, and Facebook CEOs answered lawmakers’ questions about disinformation dissemination and social media accountability in a marathon virtual House hearing on Thursday. Axios media reporter Sara Fischer and tech and press industry veteran Niki Christoff digest the comments from Jack Dorsey, and Sundar Pichai, and Mark Zuckerberg, and consider what legislation may come next. Plus, Warren Buffett’s made a pitch to Texas, the Suez Canal--and the global shipping industry--is near chaos, and Bernie Sanders is pushing Alabama Amazon workers to unionize.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

26 Maalis 202138min

Big banks are appeasing their overworked junior staff with perks, from Zoom-free Fridays to $20,000 bonuses. CNBC.com’s Hugh Son discusses the domino effect the “Goldman Sachs 13” have had, up and down Wall Street. AstraZeneca is struggling to maintain public trust after a series of transparency and communication missteps surrounding its otherwise effective Covid-19 vaccine. President Biden’s tax plan continues to fuel debate across the political aisle; President Trump’s former Chief of Staff Mick Mulvaney and Rep. Tom Suozzi (D-NY) consider whether political ties and promises will win over dollars and cents. Plus, fintech startup Greenwood is getting buy-in from major banks to close the racial wealth gap. CEO Ryan Glover shares his company’s newest funding raise and his plans for a more equitable financial system.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

25 Maalis 202133min

Operation Hope founder John Hope Bryant is working with former SEC Chair Jay Clayton to expand financial literacy and inclusion across the country, in an effort to shrink poverty and the wealth gap in the U.S. Nonresident Fellow at Brookings and NBC News contributor Dr. Kavita Patel considers what a third wave of Covid in Europe may mean for the pandemic trajectory here at home. A Covid-free world, she suggests, may not be the post-pandemic reality. Investors are eyeing GameStop after its quarterly earnings call; Hightower CIO and Portfolio Manager Stephanie Link weighs the risks of the meme stock trade. Plus, Elon Musk is midnight tweeting, and the markets are digesting comments from Treasury Secretary Janet Yellen and Fed Chairman Jerome Powell.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

24 Maalis 202134min

AstraZeneca’s good vaccine news is tempered by federal health officials voicing concerns about the company’s data. CNBC’s Meg Tirrell digests the news and considers the blow’s impact to the vaccination timeline in the U.S. A year after U.S. stocks plummeted on fears of the coronavirus pandemic, markets have bounced back, in what Mike Santoli calls their best year since the 1930s. CEOs are facing tough decisions as they plan office reopenings; KPMG CEO Paul Knopp shares results from his survey of 140 other U.S. CEOs, addressing C-suite concerns for safety, employee demands for flexibility, and workplace vaccination disclosures post-pandemic. Plus, March Madness has spelled good fortune for the newest addition to the S&P 500: Penn National Gaming. CEO Jay Snowden discusses bets, brackets, and expanding American gambling.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

23 Maalis 202136min

AstraZeneca has unveiled new data on its Covid-19 vaccine, revealing that it’s 79% effective at preventing symptomatic cases. CNBC’s Meg Tirrell explains the news, and AstraZeneca U.S. SVP and President of the Biopharmaceuticals Business Unit Dr. Ruud Dobber shares details and implications from the new study. Some of Wall Street’s junior bankers are banding together to shine a light on the 100 hour work weeks taking a toll on their physical and mental health. New York Times reporter Kate Kelly and Vanity Fair special correspondent William Cohan discuss the generational divide on Wall Street, from work ethic to work-life balance. The wealthiest Americans are finding ways to avoid their taxes, ARK’s Cathie Wood has a new price target for Tesla, and the Kernens are betting on their (individual) basket brackets. Plus, happy 90th birthday William Shatner! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

22 Maalis 202133min