America, Hitting the Road & Skipping the Office: Best Western & Slack CEOs 6/29/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 29 June 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Americans are gearing up to travel this Fourth of July weekend despite higher fuel and food costs this year. Amid record-high inflation, president and CEO of Best Western Hotels and Resorts Larry Cuculic says summer travel is surging in cities like Seattle, New York, and San Francisco. Stewart Butterfield, CEO of Slack, joins Andrew from the Aspen Ideas Festival to discuss what impact a recession could have on employers recalling workers to the office. He says the pandemic has proved that digital infrastructure is now more important than a physical HQ. Plus, a leader of the Federal Communications Commission has issued a warning about TikTok’s threat to American data security, and President of the Cleveland Fed Loretta Mester has voiced her support for a 75 basis point hike in July. In the episode: Stewart Butterfield, @stewart Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer, today on Squawk Pot.
0:08.0	It's a cornerstone of remote work, Slack, co-founder and CEO Stuart Butterfield on the future of work and technology.
0:15.0	So there is this shift that happened sometime in the last couple decades
0:19.0	between the relative importance of the physical HQ and the digital HQ.
0:22.0	Plus, traveling July 4th, prices are higher than ever.
0:26.5	Best Western CEO Larry Kousalick says inflation can't stop us from hitting the road.
0:31.5	Although gas prices have increased
0:33.7	and there has been, I'll call it, the headwind of inflation,
0:36.9	travel has remained tremendously strong.
0:39.6	Those stories, plus, were closing out a dismal first half of the year for the markets,
0:44.2	Disney's betting on CEO Bob Chapeck again, and Tik-Tock, not just for fun.
0:49.3	If you're prone to wearing, you know, tin hats, you could come up with some pretty interesting
0:53.8	scenario. Are youth being controlled by the Chinese? I don't think this is a crazy
0:58.9	conspiracy theory. It's Wednesday June June 29, 2022.
1:03.5	Squack Pod begins right now.
1:05.5	Stand back you buy in three, two, one, fuel break.
1:09.5	Good morning.
1:11.5	Welcome to Squack Box here on C.
1:13.0	We're live from the NASDAQ market site in Times Square.
1:16.0	I'm Becky Quick along with Joe Kernan.
1:18.0	Andrew will be joining us a little later this morning.
	...

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