Lessons for Norfolk Southern Rail; Searching for Bao Fan; Betting on Gambling 2/17/23

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 17 February 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Two weeks after a train derailment in Ohio resulted in a hazardous chemical spill, the responsible railway Norfolk Southern, the EPA, and the Biden administration are working to help the affected community. Oscar Munoz, former United Airlines CEO and former CEO of CSX rail shares lessons from his career, and offers some advice to the leaders involved. In the wake of wins for betting giants like DraftKings and Fanduel, Activate CEO Michael Wolf discusses the trends for legal and illegal sports betting. Plus, Sam Bankman-Fried is in trouble again, and prominent Chinese investment banker Bao Fan is missing according to his company China Renaissance Holdings. The Beijing-based fund and investment bank said it “has been unable to contact Mr. Bao Fan,” but is operating normally, according to a filing. In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squack Pod and I'm C and V.
0:07.0	producer Cameron Costa.
0:08.0	On today's episode, two weeks after crisis in Ohio,
0:12.8	former CSX and United Airlines CEO Oscar Munoz
0:16.7	says the railway responsible is now playing catch up.
0:20.4	The thing I've learned from experiences your initial response is by far the most important.
0:25.4	To all the things that are being done now should have been done a lot earlier.
0:29.5	And a CEO missing in China, last seen in Beijing and his company under investigation.
0:36.0	So nothing should surprise us.
0:38.0	So what am we going to hear about this guy?
0:40.0	We're going to, uh...
0:41.0	I don't know.
0:42.0	Where do you think he is? I don't know. What do you think he is? What do you think they're serving him? I don't know. Would you like to
0:47.0	continue with questions? I don't know the answer to. Those stories plus Sam Bankman Freed is in trouble again.
0:54.6	And there are some big wins for betting giants, media and entertainment consultant Michael
0:59.9	Wolf, and the not so risky gamble on gambling.
1:03.4	Our forecast show, last year we had 99 billion in the US and gambling revenue.
1:08.8	By 2026 we're forecasting it's going to be over 200 billion.
1:13.4	It's Friday, February 17th, and Squawk Pod begins right now.
1:17.9	Stand Becky by in three, two, one, queue please.
1:22.3	Good morning, everybody. Welcome to squawkbox here on
	...

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