Magic Johnson; Galatoire’s New Orleans; Main Street Recovery

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 19 May 2020

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

NBA legend and entrepreneur Magic Johnson has teamed up with MBE Capital Partners CEO Rafael Martinez to deploy $100 million to fund loans for minority- and women-owned small businesses hit by the Covid-19 shutdowns. Melvin Rodrigue, CEO of New Orleans iconic restaurant Galatoire’s, joined industry leaders at the White House for a meeting about the administration’s Paycheck Protection Program. He discusses what he and his fellow restaurateurs need to keep serving their customers--and their employees--after the pandemic. Plus, real estate magnate and hospitality CEO Barry Sternlicht is calling for U.S. businesses to reopen as long as they comply with health recommendations. As it is, he says, America’s Main Streets will never look the same.

Transcript

Click on a timestamp to play from that location

0:00.0	This is
0:02.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer.
0:05.0	Today on our podcast, Getting Back to Business.
0:08.0	Real Estate Magnet and Hospitality CEO Barry Sternlich
0:11.0	is calling for a reopened economy.
0:13.4	If the states stay shut too long,
0:16.1	it could be irreversible damage.
0:17.8	I don't think the mean streets of America
0:19.6	will ever look the same.
0:21.0	And NBA legend Magic Johnson has a new teammate and together they're
0:24.9	supporting small businesses in crisis. We have to remember that these businesses
0:29.0	have been in urban communities for a long long time.
0:33.8	They've been doing great things.
0:35.6	Magic is teaming up with a lender financing $100 million
0:38.8	in loans to entrepreneurs.
0:40.3	MBE Capital Partners, Raphael Martinez.
0:42.6	Every business that's out there can go online right now because there's a ton of money left.
0:47.8	And this is a call to action.
0:49.6	Those stories plus the recipe for a stable restaurant industry.
0:53.3	It's Tuesday, May 19th, 2020, Squack Pod begins right now.
0:58.4	Good morning, everybody.
0:59.5	Welcome to Squack box here on C.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.