The Bipartisan Bridge & Tunnel Crowd; Bill SPAC-Man; The Four Day Workweek

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 21 June 2021

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bill Ackman’s SPAC Pershing Square Tontine Holdings has acquired 10% of Universal Music Group, the label behind Taylor Swift, Lady Gaga, and Drake--valuing the company at $40 billion. Tontine is the biggest ever SPAC, and Becky, Andrew, and Mike Santoli discuss the financial engineering behind a deal of this size. Staff writer for The Atlantic Joe Pinsker spoke to companies around the world successfully experimenting with a four-day workweek. He explains what could be the next step in the post-pandemic workplace evolution. As bipartisan negotiations for an infrastructure bill wear on in Washington, Republican Maryland Governor Larry Hogan and Congresswoman Susie Lee (D-NV) discuss the plan’s “pay-fors” and each party’s non-negotiables. Plus, as China cracks down on crypto mining, prices are falling. And, cruise lines are set to weigh anchor, but American Airlines is struggling to keep up with travel demand without sufficient staffing. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C. N.C. producer Katie Kramer
0:07.0	today on our podcast,
0:09.0	Plains, trains and broadband Washington's road ahead on fixing roads.
0:14.3	Inside the bipartisan negotiations with Maryland Governor Larry Hogan.
0:18.0	If we can't come together on infrastructure, I'm not sure
0:21.6	where we're ever going to find common ground and it's great that we got so much support for this middle ground proposal.
0:27.0	In Nevada Congresswoman Susie Lee.
0:29.0	This is the biggest investment in infrastructure that we've ever seen.
0:33.7	And so clearly it's complicated, taking some time.
0:37.7	Less work, it's working, the rise of the four day week
0:42.2	with Joe Pinsker of the Atlantic.
0:44.0	These are companies that have taken 40 hours and shaved it down to 32 hours over the course of four days and not reduced pay.
0:52.0	Those stories, plus the rest of the news that got us talking, like Taylor Swift, Lady Gaga,
0:58.0	and Bill Ackman, headlining the biggest SPAC deal ever.
1:02.0	I don't know if we should use the phrase financial
1:03.4	engineering but there's a financial engineering element. It's Monday June 21st
1:08.0	2021 summer is officially here and SWOC Pod begins right now.
1:13.4	Stand Becky by in three, two, one, cure please.
1:18.0	Good morning, everybody.
1:19.2	Welcome to Squawk Box here on C.
1:20.8	I'm Becky Quick Quick along with Andrew Ross
	...

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