Non Competes & A Stalemate for Speaker 1/6/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 6 January 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Federal Trade Commission has proposed a rule to eliminate employee non compete clauses in contracts, claiming the practice stifles innovation and entrepreneurship. In a rare interview, FTC Chair Lina Khan explains the proposal, the economics, and the workers that stand to benefit. As the Republican congressional stalemate continues, Rep. Kevin McCarthy (R-CA) stands resolute in his pitch for Speaker of the House. Plus, Bed Bath & Beyond’s stock may be beyond help, and it’s another Squawk celebration: happy birthday, Joe Kernen! In this episode: Lina Khan, @linakhanFTC Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	A new proposal to Nick's non-competes, why the Federal Trade Commission wants to change contracts for blue-collar,
0:16.0	white-collar, and all workers in between.
0:18.0	FTC Chair Lena Khan in a rare interview.
0:21.0	Our economists calculated that collectively American workers
0:24.9	are earning around $300 billion less
0:28.0	because of these non-competes
0:29.6	and that on the whole, innovation
0:32.0	and entrepreneurship are suffering.
0:34.1	And another day, another vote in the House Speaker
0:37.8	stalemate.
0:38.9	McCarthy's been stuck at 91% of the Republican caucus for these 11 votes, 91%.
0:46.5	Those stories today, plus a big plunge for Bed Bath and Beyond's
0:50.8	memeness and a big occasion.
0:53.0	Something delicious, something you want.
0:55.0	That's just what I need.
0:57.0	It's January 6th, 2023.
1:00.0	It's a weird day now, is it not?
1:02.0	Happy birthday. Squawk pod begins right now
1:05.3	stand back you by in three two one queue please good morning everybody
1:11.2	welcome to squackbox here on
	...

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.