Sweetening the Deal for Spirit & Weathering Crypto’s Cold Front 6/6/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 6 June 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

JetBlue has upped its offer for Spirit Airlines as the battle with Frontier heats up. CEO Robin Hayes explains the new, larger breakup fee offer and shares why he feels shareholders should be happy with this deal. After Coinbase’s hiring freeze and Gemini’s layoffs, the crypto community could be headed for a “crypto winter.” Forkast founder and CEO Angie Lau says, a contraction is certainly underway. Plus, Elon Musk claims Tesla is overstaffed, Starbucks is closing down a recently unionized store in New York, and gas prices are throwing a wrench in summer travel plans. In this episode: Angie Lau, @AngieTVLau Phil LeBeau, @Lebeaucarnews Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi there, I'm C.N.C. producer Cameron Costa.
0:07.0	Today on Squawk Pod, another development in the battle between JetBlue and Frontier for Spirit Airlines.
0:14.3	JetBlue CEO Robin Hayes on what his team can offer.
0:17.8	We sent a letter again this morning.
0:19.4	It's not too late for the Spirit Board to do the right thing for their
0:22.3	shahold. As I tell you, their shahold is expect them to do it.
0:25.4	And is Winter coming for crypto, forecast founder and
0:28.9	editor-in-in-chief Angie Lau?
0:30.9	I think we're in a crypto contraction to be sure, a crypto correction.
0:35.0	Those stories plus gas prices are driving a hole in consumer pockets.
0:40.0	Elon Musk is trying to level out his staff and it's another chapter in the Starbucks Union story.
0:47.0	I think there's 600 people maybe within Starbucks who have either voted to do this or even just raised their hand to say they want to do this
0:54.8	and they employ something like 200 some thousand people.
0:58.9	It's Monday June 6th, 2022 and Squackpad begins right now.
1:04.0	Stand Becky buy in three, two, one, fuel break.
1:08.5	Good morning, everybody.
1:09.7	Welcome to Squackbox here on CMBC.
1:11.6	We are live from the NASDAQ market site in Times Square.
1:14.4	I'm Becky Quick along with Joe Hernan and Andrew Ross Sorkin and guys welcome back.
1:19.3	Thank you.
1:20.3	Good to see you too. Thank you.
	...

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