Finding Solutions: Stanley Druckenmiller, Harlem Children’s Zone, & Richard Parsons

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 9 June 2020

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As nationwide civil unrest continues, Richard Parsons, one of America’s first Black Fortune 500 CEOs, presents business leaders with options for challenging the economic status quo. Parsons, the former Chairman of Citi, CBS, Time Warner, and the LA Clippers, underscores executive accountability to society as well as to shareholders. Harlem Children’s Zone incoming CEO Kwame Owusu-Kesse joins legendary investor Stanley Druckenmiller for a conversation about reinvesting profits into community infrastructure to disrupt systemic inequality. Druckenmiller recounts his investments--wins and losses--but considers his partnership with HCZ to be his best yet.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today a super-sized
0:06.3	podcast with two great interviews. Richard Parsons weighs in on unrest after 11
0:12.0	straight days of protests in major American cities.
0:14.8	We have to get to know each other and appreciate each other and not be afraid of each other.
0:20.6	The former chairman of Time Warner, City, CBS, and the LA Clippers on the business world's road ahead.
0:27.0	I don't think that this is a problem that money alone can solve.
0:32.0	And legendary investor Stanley Druckenmiller on the surprising market rally and his investments,
0:36.7	the bad and the good.
0:37.7	I've done a lot of investing in my life.
0:39.7	I've had some misses and I've had some huge wins. The best investment I've ever
0:44.4	made in my life was the Harlem Children's Zone. And that organization's
0:47.8	incoming CEO Kwame Urusu Kese. On top of just the fair of death, there is economic insecurity, food insecurity,
0:56.5	housing insecurity. Despite all of that, there's still a great sense of hope.
1:00.7	That is the reason why the Harlem Children's Don't exist.
1:03.0	It's Tuesday, June 9, 2020, Squack Pot begins right now.
1:08.0	Good morning, everybody.
1:11.0	Welcome to Squack Box here on CMBC.
1:13.3	I'm Becky Quick, along with Joe Vernon and Andrew Ross Sork.
1:16.2	Our next guest says that diversity in the workplace is just one of the many issues that
1:20.0	corporate America needs to tackle.
1:21.7	Joining us right now to talk about that.
1:23.1	And of course, media as well is Dick Parsons.
	...

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