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tv   After the Bell  FOX Business  October 8, 2020 4:00pm-5:00pm EDT

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vehicle of the moment. liz: got it. [closing bell rings] the fact that square is up to $283.50. not a bad move. george ball. always a pleasure. that will do it for "the claman countdown." it is friday tomorrow. we'll see if we can get green on the screen. connell: we are just clinging to stimulus hopes. stocks rising again. second day in a row we've been up. investors holding out hope we'll get some type of relief package done, despite back and forth throughout the day in washington. first the president came out that talks were starting to work out. the speaker seemed to throw cold water on that. we're up nice 122 on the dow. thanks for joining us. i'm connell mcshane. this is "after the bell." we have a lot of news to cover. we have fox business team coverage with reporters. ashley webster sorts out the
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market action. blake burman doing sorting of his own at the white house. edward lawrence with the fed in a few minutes from washington. like, to you. reporter: we heard from the commission that oversees the presidential debate, next debate one would be virtual debate. president trump reacted instantly, no, no will not take any part in that whatsoever. instead his campaign is saying they would like to see the debate happen on october 22nd. which was supposed to be the last debate and one on october 29th. the biden campaign came out said they're good with the 22nd. that was on the calendar to begin with but they do not believe president trump can unilaterally dictate the debate schedule after that. that is where we stand. here is how both candidates reacted today. president trump: i don't want to do a virtual debate. a virtual debate is a joke. i'm in great shape. unlike joe i don't have the
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luxury staying in a basement all day long. i have to run the country. >> we don't know what the president will do. he changes his mind every second. for me to comment would be irresponsible. i will follow the commission's recommendation. if he goes oaf to have a rally i don't know what i'll do. reporter: elsewhere here in washington the prospects after stand alone covid relief package or stand alone bills is depending who you ask. in interview with maria bartiromo president trump described the talks between nancy pelosi and steve mnuchin as productive. pelosi later this morning went out before the cameras said she would not be in favor of any stand-alone bill unless it was part of something bigger. president trump: we got back. we started talking again. we talked about airlines and bigger deal than airlines. we talked about a deal with $1200 per person. we're talking about other things. >> let me just be really clear. i have been very open to having
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a stand-alone bill for the airlines, or part of a bigger bill. but there is no stand-alone bill without a bigger bill. reporter: there is no stand-alone bill. it was something that nancy pelosi repeat ad couple times today. so connell, when you step back to look at the about picture here, the big package that nancy pelosi wants, the president has said that's not going to happen. focus on the supreme court. and the stand alone packages that the president has said let's go ahead and do, nancy pelosi says, that is not going to happen unless we get the big thing. they're is still a stalemate. connell? connell: that's a good summary of it. stalemate indeed. thank you, blake. it was comments, ashley, that originally brought the markets off their highs, right? then maybe further pelosi comments. we rallied into the close. either way a pretty nice close. ashley: pretty good. you know, connell, you're right, with every headline out of d.c. on the progress or lack there of
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another stimulus bill the markets have responded accordingly. nice open to begin the day. lost some steam when we saw nancy pelosi say, uh-uh, no stand alone airlines bill but as you can seep the dow, the nasdaq, the s&p all nicely in the green. the dow gaining 122, up about half a percent. when nancy pelosi said there was no stand-alone bill for airlines without the bigger aid package the wind went out of the says. i think we'll see this back and forth with each session. i mentioned airlines, at the start of the day all major carriers were up one, two, 3%. they went down. as money came back into the market we saw those airline stocks start to regain traction. talk about turbulence. we heard from a couple gop senators who raised questions about taxpayers being on the hook for airlines and suggested look, federal loan money is still available for the airlines. down went the stocks but as i say they came back later in the
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day. the carriers want that 25 billion in payroll support, another trunnel much of money to keep -- tranche of money to keep workers on the payroll. united american, furloughed 32,000 workers last week. 10 of thousands or more agreed to voluntary leave or reduces hours. southwest will have to carry out the first furlough in history if workers do not agree to take a pay cut. all of that is at stake as a stalemate, blake put it, goes on in congress. as for big tech stocks a bit of a mixed bag today. apple and amazon putting in a pretty platformance. facebook up 2%. alphabet/google gaining 1 1/2% for the day. as for the economic data first time claims for unemployment benefits totaled 840,000 last week. that is higher than the estimate of 820,000. by the way, since the start of the pandemic 63.62 million jobless claims have been filed,
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all just under 40% of the workforce. it's a big number but on the upside this latest reading shows the lowest level of claims since the pandemic shutdown in mid-march. we can find at least a little bright spot in there, connell. connell: we will take it. thank you, ashley webster. to steve forbes joins us, the forbes media chairman. start off on the merits if we can the idea for the market both for the economy and the stock market maybe we need some stimulus to keep us going late this year and early next year. the question is how much and what kind. what do you think? what would be enough? >> well i don't think we should just look at a number. i think we have to look at specific items. there is good stimulus and bad stimulus and helping out the airlines, that's fine. cutting another check for individuals, fine. paying people not to work, that is not good. bailing out mismanaged states, not good. covering real expenses for
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covid, fine. so it's the devil is in the details. that is where i think nancy pelosi has been so dragging her feet on this she wants a breakout, bailouts for states and massive increases in unemployment benefits each week. those two things would not work very well. i think the president should hold out and even increase the 1200-dollar proposal for individuals, if you're not going to do anything on the unemployment side, increase that to say $2,000. big schwab of cash. households would be delighted with it. increasing dependents from 500 to $1000. family of four that would come in very handy right now. connell: if pelosi digs says i'm not doing anything, quote, urn quote, if it's a big sweeping bill what is the political calculation for republicans not only the president, congressional republicans and senators up for re-election in
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tough fights? do you give in, try to get something done preelection. to your earlier point hold out? if you do there has to be some political risk of holding out, right? >> there is political risk too in passing a bad bill that will end up doing the economy more harm than good. it is really going to depend on the republicans being laser focused, framing the issue the right way. bailing out mismanaged states does in the play well outside of new jersey, new york, illinois. the rest of the country doesn't want any part of it. the president comes out with simple things, $2,000 for individuals, $1000 for dependents. suspend the payroll tax, money for airlines and restaurants and the like. simple package, three or four items i think you can make that a politically winning issue. saying the democrats bail out mismanagement, no way. connell: other issue in the stock market here over the last week or so has of course been
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the presidential election itself. let me ask you about that, what you think is actually happening. joe biden led in the polls throughout but his lead has gotten bigger. it has solidified since the first debate and the president going through covid. now there seems to be a bigger bet that a biden victory is more likely. the argument i heard from investors kind of on that side why that might not be a terrible thing is kind of twofold. they first say if biden wins decisively. we're not arguing over who the winner will be. that is a good thing because the markets like certainty. the second thing i hear more and more which is one i would like you to respond to from some democrats or investors that a biden win would lead to more stimulus which we've been talking about, especially if the democrats take the senate. that they say is one of the reasons even though a biden win looks more likely, that the market is not selling off what do you think? >> i think the markets are, this will sound very counterintuitive and that is the markets i think
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still think the republicans can win or at least hold the senate, even though things are looking bleak right now. because the idea that there is going to be stimulus that will keep this economy going, not when you have a 40% capital-gains tax, 60% marginal tax rates. massive new regulations. increasing business taxes and like, same failed before trump took office. when you have hurting economy, it means it hurts companies, means it hurts stocks. 40% capital gains tax, what will that do for people 140 million holding iras and 401(k)s? not so good. connell, where does the money get it from. gets it from people producing things, real things f you have a sluggish that knit isn't going to happen. we'll get the 1970s stagnation and inflation combined. it would seem logical if you
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thought taxes are going up next year, if that is what you're thinking? >> you're exactly right f you face a 40% capital-gains tax versus the still too high, 23% federal rate today. you take profits. you take what you can before the taxman comes to make it impossible to sell. take most of what you have there. you will see huge selling pressures. connell: there is still time. we're only in october and time for the market. steve, talk to you plenty of time between now and then. thanks, steve forbes. searching for direction, the markets have taken their direction from the federal reserve many times as we know in recent months. today edward lawrence sat down with boston fed chairman eric rosengren. edward joins us. reporter: in an exclusive interview he believes more stimulus is needed. he thinks the fourth quarter gdp
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will be less than expectations because he believes the stimulus is coming in the first quarter of 2021. eric rosengren, boston federal reserve president says the unemployment rate will end the year about 7.9%. we won't be back to 3 1/2% unemployment for years. listen. >> i think it is at least three years, probably longer. i think the risk of inflation picking up very quickly is quite low at this time and the fiscal stimulus is really to make sure that we don't get a sustained period of very high unemployment. we're seeing the duration of people being unemployed is starting to be longer and longer. and the number of people that are permanently employed has been increasing. it is now approaching four million people. so that is a disturbing figure because the longer we have people out of the labor market or unemployed for extended periods of time, the harder it will be to get back to full employment. reporter: the federal reserve changed its framework recently. this allows it to go average of
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2% inflation, allowing the economy to run high, moderately high for some period of time. this is what rosengren believes i was moderate. listen. >> so the longer that we're below 2%, presumably if you want to average 2%, the longer it has to be above. so i think for most of the members, i can't speak for the rest of the members but myself, time above 2% would be acceptable. to average 2% we'll need a pretty long period where we're somewhat above 2%. reporter: rosengren manages the main street lending program. nine billion dollars will be lent out this year he says to companies. back to you. connell: edward lawrence, good stuff. as we continue to the debate stage with president trump and opponent joe biden not seeing eye-to-eye on the presidential debate schedule. we'll talk to leading members about that virtual fight.
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that is next. then the gulf coast is bracing for hurricane delta and what could be a life-threatening storm surge. we're on the ground with a live report where things stand. a booming trend, amid this pandemic. what businesses are turning to in order to survive the cold winter months. stick around. ♪ ♪ smooth driving pays off with allstate, the safer you drive the more you save you never been in better hands allstate click or call for a quote today
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♪, back now to the presidential debate battle. the two campaigns trying to secure the next debate or debates this after president trump this morning told maria bartiromo he will not waste his time participating in a virtual format. both parties represented here the next few minutes to talk it through. first paris dennard, republican national committee senior communications advisor. thank you, paris. good to see you. let me start, trying to keep it simple why not the virtual format? we know 60 years ago kennedy-nixon third debate was done that way. if they could do it back then they could do it now. why not? >> there is no reason to do it virtually. the vice president and kamala harris were able to test for covid-19 the day of. the test came back negative. they were able to debate. if they're able to do that there
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is no reason why we can't have the same thing happen on the 15th. they both test negative, have the debate in person, live before an audience and town hall format the way it was agreed to be done, rather than having the debate commission make unilateral decision to change the rules to benefit joe biden. if he was in his basement we could not verify if he had teleprompter or notes passed to him or having something in his ear. better to have this the way it was done. or move it from the 15th to the 22nd. have the last one on the 29th. if there issue about timing and issue about covid-19. that is what the trump campaign promotessed as a compromise to that. but i've heard that the biden team rejected that as well because they're not serious about having this debate in person, because joe biden did so poorly, obviously kamala harris did so poorly last night. connell: well they have rejected it, you're right.
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from what we understand at least for now. now there is only one debate on the schedule, so what is the plan from the president? we don't know of any other negative tests for covid yet. i will wait until he gets out there, but we want to hold rallies from what he said. is that the campaign plan if there is no more debate? >> the campaign plan is to have operation maga which is in full swing. we have bus tours going. women for trump bus tour. the red bus is going around. we were in ohio, pennsylvania, and arizona. we'll take the bus all over the country. black voices for trump community centers, doing phone banking in person events all across the country with top sure row fats. ivanka trump is raising a lot of money for fund-raiser. we're engaged. we have surrogates. we have the president's family.
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we have member of the different advisory boards and number of coalition groups and rnc surrogate program is booking people all across the television circuits and radio and television. it is an aggressive campaign. we can win it. we have a winning message. things have not stopped. we're going full steam ahead. connell: you're playing from behind. that deficit may have grown over the last week or show. almost all the data, paris, shows that. states like pennsylvania seem to go in joe biden's direction, if you're the candidate playing behind, usually that type of candidate wants to debate. you say the president has offered to debate, if joe biden holds out, why not do it virtually you might need to reach as many people as possible in a debate format where you get a huge audience, especially again if you're trying to make a comeback here? >> so the, our team is not behind. we're behind in your mind. if you look at pennsylvania like
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you said, we narrowed that gap in terms of registering voters. if you look at 2016 everyone counted us out. everyone said we would get 0% of the black vote we got 8%. we got 13% of the black male vote exit polling. so we are not behind. we are exactly where we want to be and we're moving full steam ahead. we don't believe in all the polls that come out saying not doing well. we know there is black voter suppression with the democrats tell us you ain't black and monolith, nbc ainge sore said it was minutes strell show playing at convention an cancel culture. we're full steam ahead. we use every opportunity we have, every medium, in person, virtual to communicate with the american people. we'll keep doing it. connell: let me ask you one more question as specific as i can. go back and forth whether the polls are real or not. not going to get anywhere with that type of a back and forth discussion but i would be
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curious what the specific argument on path to victory is right now? as it may be narrowing for the trump campaign and maybe you would say in certain states if you want to go that way, you will talk about demographics where the president might surprise for people. what is the trump path for victory? >> the trump to victory is doing what we're doing, guesting out the vote. we have an operation on the ground far superior than the democrats, far superior than joe biden. with very the apparatus to get-out-the-vote. we have teams on the ground to do safe door knocking, phone banking to get-out-the-vote. they don't have the operation that we have, that the rnc and trump victory campaign put together because of resources from the american people. they don't have that operation. they don't have that ground game. we have it. we have a plan that will get us to victory like we had in 2016. we're going to expand the party. see no one is talking about the fact we're expanding the party. no one is talking about the fact we're doing better with black and hispanic voters. the fact that joe biden is
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underperforming with black and hispanic voters worse than hillary clinton did. this election is not over. the only poll that matters when president trump wins. connell: the only poll that matters november 3rd, that is true. paris dennard from the rnc. we have jenna, with us. i will start the same way. i tried to press paris on debates, hey, why not do it virtually. the question for the biden campaign, why not do three, you have time. the trump campaign said delay them by a week we'll still do two more in person but the biden campaign denied that request. why not have three debates if still have time? >> i have don't think there is a question about biden wanting to talk to americans. americans deserve to hear from all candidates particularly the presidential candidate often as possible but i think that the real concern comes down to
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timing. you have five million people who have already cast their vote, many, manies more between the 23rd and 29th. recognizing if we push debates back build in more safety cushion for a covid positive participant to stand on to the stage next to presidential candidate. the truth americans need to hear from the candidates more frequently. recognizing that there is a health and safety risk but also a responsibility to get messages and conversations out to americans as quickly as possible. connell: all right. i would say, jenna, to that point one candidate, we established leading in polls the candidate probably needs to hear from more than they have in terms of tough question something joe biden and you know, if you have more debates, then maybe you are forced to answer a question on supreme court, for example. isn't it fair to say that whatever the answer is that yes,
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no, maybe so, that there is some sort of answer to the idea, hey, will you pack the court if you win? so far neither joe biden or kamala harris directly answered that question. isn't it fair for the people if joe biden wants to be president to demand an answer to a question like that? >> i do agree with you. that is a fair question to answer. my hunch independent of my role as a surrogate they don't know the answer to that yet. we're look at -- connell: really? >> yeah. they're looking at a scotus confirmation with 20 some odd days to go. this is unprecedented. she is a candidate that does not reflect americans in general. i don't know how this will look different if the trump administration came forward with a candidate that was more reflective of the american public. that was a little bit more in the middle. i think there would be the same types flags raised somebody so extreme, so polarized when it
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comes to health care and reproductive rights and pushed back against this current judicial bench in ways that make americans so uncomfortable i think it is all of those variables. so i, you can only speak on behalf of myself as a citizen. i look at them, it strikes me probably not a concrete answer or strategy because who knows what will happen over the next 25 days but i think it is fair for americans to press them on that question. again to your point, biden can be getting out in front of americans as often as they want. he strikes me as someone who is willing to do it. i did just see unconfirmed on twitter he was willing to raise his hand to do a town hall the evening of the second debate if trump doesn't want to show up. i think he is willing to come forward. connell: yeah. well, that is different. that won't be a one-on-one with the president. abc news said george stephanopoulos will do a town hall i believe in philadelphia on the night -- >> encourage the president to show up?
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connell: well, we'll see. those are different type of events f the president showed up in person, obviously then we're back to the same situation that we had in the first place? >> listen my kindergartener is learning virtually right now. we have teachers, doctors appointments, presidents can show up and have conversations. connell: another area which is our specialty the economy, the vice president hasn't been necessarily pressed on as much either we will have to recover from a rough situation economically we all understand that. president trump says we need to keep cutting taxes. it worked the last time. it will spur growth. joe biden basically said the opposite he will raise taxes. in fact there was an independent report came out this week saying the biden plan would raise taxes to the tune of $4.3 trillion over course of 10 years where the trump plan would cut them by 1.7 trillion. the biden plan with all of that said, because he plans to spend so much on other items would
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still be worse to our deficit. what do you say to that, what would it do for our economic growth as we dig out all of this? >> listen, americans are petrified about the health, safety, the economy. under trump's tax plan he has provided benefits to the wealthiest 1% and to corporations. the hundred billion, the 100 richist billionaires in this country just made another $30 billion during the pandemic while trump is suggesting and proposing that the 65,000-dollar a year income nurse or teacher should continue to have increased taxes. i think it is really important and i think the biden campaign has done done eloquent job your taxes will only be increased if you make over $400,000 a year this is about -- connell: we'll try to get into that a little bit more in details but right now we're out of time. which represented both sides. good discussion. thank you, jenna arnold with the
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biden campaign. paris dennard before that with the rnc before that. we'll be right back after a quick break. [ squawks ] 'cause you're not like everybody else. that's why liberty mutual customizes your car insurance, so you only pay for what you need. what? oh, i said... uh, this is my floor. nooo! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ metastatic breast cancer is relentless, but i'm relentless too. because every day matters. and having more of them is possible with verzenio,
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♪. connell: condemning violence. new york city mayor bill de blasio says there needs to be consequence. this after a reporter was attacked by a group of orthodox jewish protesters in the city last night. fox news correspondp dent david lee miller live with the details. reporter: connell, new york city is cracking down on coronavirus hot spots but not everyone thinks that is such a good idea paving the way for a lawsuit. meanwhile, hundreds of ultrareligious jewish residents who say the restrictions unfairly target their community took to the streets of brooklyn for the second night in a row to protest their opposition to reducing capacity at houses of worship. the order by the governor also closes and shuts all non-essential businesses as well as schools. president trump has praised the protesters, last night many
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waved trump 2020 banners as tensions escalated a reporter on the scene said he was assaulted by the angry mob mob. despite a significant police presence there were no arrests. governor andrew cuomo says the city must enforce the law. mayor bill de blasio is coming under increasing pressure sure for the nypd to take action against the demonstrators. >> we need to get very clear. we're in a different situation now. it is the first time we have had to reimposition of restrictions since this crisis began. that comes with additional legal tools for the nypd. reporter: authorities say the locations identified as covid hot spots and forced shutdowns are based solely on scientific data. a number of jewish organizations says the governor's order constitutes violation of civil rights of freedom of religion. they have filed a lawsuit in federal court. the hot spots have infection rate of nearly 6%.
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that compares to a little more than 1% statewide. back to you. connell: david lee miller live in new york. to hurricane delta it is strengthening as it approaches the u.s. targeting the same areas devastated by hurricane laura. that was just six weeks ago. we will have a report from louisiana coming your way next. the biotech company behind the treatment taken by president trump is seeking approval from the fda. former health and human services secretary tom price weighs in on that. he is coming up later in the hour. warner media is planning thousands of john cuts, restructuring to reduce costs by 20%. as the pandemic continues to drain income, movie subscriptions, cable subscriptions tv ads. subscriptions tv ads. we'll be right back. before we board. excellent. and you have thinkorswim mobile-
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♪. connell: hurricane delta, it is a category 2 storm and getting stronger. the atlantic season's 25th named storm. currently headed for southwest louisiana. we have fox team coverage set up with rick reichmuth in the fox weather center. mike tobin morgan city, louisiana. mike in a moment but rick first to you. rick: incredible 25th storm here. we're getting to the end toward the hurricane season. we don't see anything on the horizon. hopefully we get through without anything else after this storm.
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this storm azithromycin storm. category 2. has additional time left we'll see strengthening of the storm. i don't think we'll see the strengthening into the category 4 we've seen including category 4 laura that made landfall across the exact same area across parts of southwestern louisiana. a lot of people are impacted who just now getting their electricity back. just have tarps up for their roofs. having another storm. our models are in very good agreement. maybe seeing landfall probably 10 to 15 miles to the as where laura came onshore. that is good fuse for lake charles, where you see a lot of wind. you shunt sigh the storm surge as you saw from laura that caused a lot of the damage. towards the north water temperatures will decrease a little bit. that means we shouldn't see additional strengthening but wind sheer last hours before landfall that could weaken it.
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those are all the things we're banking on not having a stronger storm making landfall here. this is the official track of it. you will notice the official track does get it to a category 3 storm and weakens it before landfall. that landfall tomorrow evening. talking about over 24 hours we see the worst of the impacts across the louisiana coastline. one other thing, parts of that area where it comes onshore that has marshy area to absorb impact from the storm surge. storm surge at the peak, 11 feet when it comes onshore. connell. connell: rick, let's get to mike tobin on the ground in louisiana where i'm sure residents are hoping for the best, preparing for the worst as they always do. what is the latest, mike? reporter: the latest of this to take a big deep breath to prepare to deal with this again. you heard rick mention they still have blue tarps still up on the roofs. they are weary dealing with this one more time.
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we're in the town of berwick near morgan city separated by the river. the people are separated by a seawall with 38 gates. most of the gates are closed. the seawall is 1feet high. when you talk about the 11-foot storm surge at its max, that could protect the residents. they don't want to deal with this one more time. you have 6 to 8,000 residents still unable to return to their homes. you have businesses have to put boards up. fishermen have to take boats to safe harbors. crabbers pulling traps out of the water, dealing without pay as the storm passes another week for a period of time. they don't like it. they know the drill but they know to take each storm seriously. >> our guys have been through a lot. katrina was devastating to us. so we are acutely aware how we need to handle this we don't take anything lightly.
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reporter: the hurricane left plenty of discussion in its wake. connell, back to you. connell: all right, mike tobin for us. one nfl team under scrutiny. the league and the players association are reportedly investigating whether the tennessee titans violated health protocols with a off sight workout that involved several players after the organization closed its facility due to its growing covid-19 outbreak. the news comes after another titan as player tested positive for the virus. that brings the team's total up to 21 positive cases. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america.
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♪ you know you got to live it ♪ ♪ if you wanna wi... [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪. president trump: the regeneron, i view it as a cure, not just a therapeutic. i view it as a cure. it's great and what i'm doing i will supply this drug. it made me better. connell: it's the search for a therapeutic breakthrough and drugmakers regeneron and eli lilly are both asking the fda for emergency approval of their covid-19 experimental antibody treatments after president trump, as you heard there praised regeneron's antibody cocktail as being a cure. here is tom price, former health and human services secretary. good to see you, mr. secretary, once again. this might be one of the takeaways from president trump's
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treatment here, the progress we've made in treating covid-19 over the last number of months. what do you say? >> it really is. we've gotten so much better treating this disease. we will continue to do so. every day there is more information coming in from the clinical trials being done and patients being treated but one patient does not a study make and it's important that people appreciate, different patients respond differently. the president was receiving multiple medications so it is not clear exactly what is allowed him thank goodness to hopefully recover from this in a rapid fashion. connell: that's a good point. the question is about timing. the president talking eye bought making hundreds of thousands of doses of regeneron available but the company has come out and said at first the doses will be extremely limited. so you wonder about the effect even if they do get the emergency approval in terms of the general population, what will availability be like?
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>> we want everybody that might be able to benefit from a drug both safe and effective to receive that medication but we're early in the trial stage, clinical trial stage for re again-- regeneron. it is possible that the fda may say it is safe and put forth a emergency use authorization would allow patients to use it for a short period of time in order to treat covid. the broader question, and maybe a more interesting question how are the changes coming about with the fda because of covid, how many of those will survive and how does that change the waterfront in terms of what drugs, what medications, what treatments, what devices will be able to brought to market more rapidly than they would have in the past and that is a fascinating question for both medicine and the economy. >> what do you think the answer to it is? obviously on hand you don't want to rush things i think for obvious reasons, you don't have
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to get into it with new drugs coming out but at the same time you do want to move rapidly. you saw it the other day, the white house either gave in or just allowed the fda to go through on the vaccine front, take two months of time, will push it until after the election before anything gets approved. you have to strike that balance still or have we proved that we can move faster than people think? >> it is incredibly important that we have a system that makes certain that medications devices fda approves are indeed safe but i don't think anybody would objective look where the fda has been in the past to say there aren't opportunities for streamlining that process and we absolutely must steam line that process. maybe we can fast track medications or devices or items approved in other western developed countries. maybe it is once proven safe to
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use it, provide the eua to determine whether or not it is efficacious or effective treating what the individual wants to be treated but the important thing is to appreciate that the fda is going to look at it i have no doubt regardless what happens in the future is going to look at their processes and hopefully cut shorter the timeline to be able to get something to market to benefit the citizens of this country and the world. connell: what do you say to critics that said the whole process has been politicized and that cuts into the trust and makes people less likely to buy in whether a treatment or a vaccine? >> well you don't want this process politicized there is no doubt about it but i know individuals that work at the fda, i know the folks heading up the fda, they are determined as ever to make certain approvals they put forward are done based upon science and not based upon politics. the way you do that is have the
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system be as transparent as possible. so more information being shared by the fda with the public will allow for individuals to gain that greater sense of trust and security that they need in order to have confidence that the decisions that are coming out of the fda are coming based upon science, and not based on politics. connell: all right. former health secretary tom price. good to see you again, sir. as we move on here, a little bit more to come as we wrap things up. forget toilet paper. one staple is the latest item selling out during these times. we'll tell you what it is when we come back. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
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was lumber because people were building outdoor decks onto their homes, then it was patio furniture, and now the hottest commodity is outdoor heaters as we get into the cooler months. we're at a warehouse for kangaroo propane. this used to be filled with heaters they'd rent out to restaurants, but you can see it's empty because the restaurants are really looking to rent these things, especially this time of year here in illinois. kevin, he's with kangaroo propane, the founder, and an irishman, though, not from australia. these things have been so popular this year, in fact, that you actually have people trying to steal them recently. >> well, tragic as it is, grady, we have had a number of reports of our units and units belonging to some of our -- disappearing in the darkness of night. so it is fact, and, unfortunately, the demand for the product right now is such that people are going to extreme measures to acquire either a heater as you can see here on my
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right, an effecter as we call it, a mushroom heater or, indeed, some of this equipment we have for patio tables. so the demand has been exceptional. our business has been booming, to say the least, and the tragedy is we just can't get enough heaters to supply the demand here in the city of chicago. >> reporter: obviously in places like chicago and other areas where it gets cold, every restaurant is i trying to extend that outdoor season as long as possible. as we get into winter, they're going the start putting up tents, and you have heaters for that as well. that's the next big item there might be a shortage of. >> correct. these aren't suitable for tents. the propane and the gas that's given off really can't be, these units can't be placed in any kind of enclosed space. but we do, as you mentioned, we do carry a range of tent heaters. they stay outside the tent, and the design of the unit is such that hot air is pumped under the tent and then rises and keeps
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the tent at an ambient temperature. >> reporter: best of luck to you. you don't need it, though, because business is booming. it's consumer grade as well as for homes. not just businesses. connell: thank you, grady. thanks for joining us, everybody. see you back here same time tomorrow. ♪ ♪ lou: good evening, everybody. president trump today announced he will not take part in the next debate against joe biden. his discussion comes just moments after the presidential debate commission changed unilaterally the format for the next debate without consulting president trump or his team. this commission is out of its mind. it said next thursday's town hall style debate would all be virtual with the candidates appearing in separate locations, entirely different from what the at

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