Speaker 1: This is Gary and Shannon and you're listening to KFI
Speaker 1: AM six forty, the Gary and Shannon Show on demand
Speaker 1: on the iHeartRadio app One Day leftil Liberation Day. If
Speaker 1: you ask President Trump, you know his infatuation with tariffs
Speaker 1: goes back to the nineteen eighties when he said the
Speaker 1: word tariff is the most beautiful word in the dictionary.
Speaker 2: He said it many times since then as well.
Speaker 3: Wall Street journalists reporting the President Trump has settled on
Speaker 3: a plan for the latest batch of tariffs that are
Speaker 3: expected this week, but he's not telling anybody what that
Speaker 3: plan is.
Speaker 1: He has announced a twenty five percent tariff on all
Speaker 1: cars not made in the US, but exempted auto parts
Speaker 1: that comply with the US Mexico Canada agreement. To help
Speaker 1: us boil it all down. What it means for the
Speaker 1: labor industry, for the auto industry in this country is
Speaker 1: Arthur Wheaton. He's the director of Labor Studies at Cornell
Speaker 1: joins us Now, Arthur, thank you so much for your
Speaker 1: time this morning.
Speaker 4: My pleasure.
Speaker 3: Let's start with some of the basics. You wrote a
Speaker 3: book a long time ago, or at least in an article.
Speaker 3: Where in the world do they come from? Speaking of
Speaker 3: today's cars, and that was more than twenty years ago.
Speaker 3: We've talked a little bit about sort of the outsourcing
Speaker 3: of parts, of transmissions, of engines. When it comes to
Speaker 3: cars that are then assembled in the United States, where
Speaker 3: do our American finger quotes American cars come from these days?
Speaker 4: Well, the short answer is is there's no completely American car.
Speaker 4: So they all have parts coming from all around the world.
Speaker 4: And some of the most American content would be Tesla,
Speaker 4: and that's because their two main manufacturing plants for the
Speaker 4: US is here. But you're seeing almost half of all
Speaker 4: the vehicles sold in the US come from outside of
Speaker 4: the US.
Speaker 1: How does this affect the car companies who make the cars,
Speaker 1: like Toyota parts or the vehicles here in the US.
Speaker 4: It's a twenty five percent tariff on all of the
Speaker 4: vehicles coming from Japan from Toyota, and it's a twenty
Speaker 4: five percent tariff down the road for all of the
Speaker 4: auto parts that are sent to the United States to
Speaker 4: go into the Toyota vehicles. And it's a twenty five
Speaker 4: percent tariff for all of the other companies that build
Speaker 4: outside the US. The tricky part here is the parts
Speaker 4: and those are going to be delayed by a month
Speaker 4: until they can figure out exactly how to precisely account
Speaker 4: for all the parts going back and forth across the borders.
Speaker 3: Transportation, car payments, truck payments, things like that are usually
Speaker 3: the second largest portion of a household's budget.
Speaker 2: Is this going to be an issue?
Speaker 3: Are we going to see immediate impacts on people's household
Speaker 3: budgets as a result of this.
Speaker 4: Absolutely, and there's almost no way to avoid it, because
Speaker 4: you're going to see people's budgets get squeezed. For New
Speaker 4: car prices are going to go up from the tariffs.
Speaker 4: Used car prices are going to go up because you're
Speaker 4: going to get priced out. For those that are just
Speaker 4: barely able to make those payments. Add twenty five percent
Speaker 4: on top of it, you won't be able to afford it.
Speaker 4: Rental car prices are going to go up, Your car
Speaker 4: insurance is going to go up. All of those directly
Speaker 4: associated with the tariffs that are supposed to start the third.
Speaker 1: I remember in the nineties, my mom.
Speaker 2: Got a used car. She loved it.
Speaker 1: It was used Alpha Romeo, and she loved it because
Speaker 1: you know, its Italian. But then something went wrong with
Speaker 1: the car and you had to get the part from Italy,
Speaker 1: and it was expensive and it took forever. And that
Speaker 1: was back when there was the push to buy American
Speaker 1: for that. One of one of the major reasons was
Speaker 1: for that alone, that you want your parts to get
Speaker 1: here and to be reasonable. But since then, it seems
Speaker 1: like there has been a globalized model that has developed.
Speaker 1: If we're going to bring back parts being made in
Speaker 1: the US, how long are we looking at and is
Speaker 1: that even something that's feasible with the way that this
Speaker 1: industry has diversified globally.
Speaker 4: Give enough money and enough time, yes, it's feasible you
Speaker 4: could bring that back. But what you would need to
Speaker 4: have is a long term, sustained tariff that people understand
Speaker 4: what the rules are. It's when you keep going on again,
Speaker 4: off again. No one wants to invest the billions of
Speaker 4: dollars to build a new plant and have two or
Speaker 4: three years for it to ramp up. If the next
Speaker 4: president comes in eliminates the tariffs and you just wasted
Speaker 4: a whole bunch of that money. So is it possible, yes,
Speaker 4: is it going to take time? Absolutely? So you're talking
Speaker 4: about these plants can take three to five years to
Speaker 4: build and get the first product out the door, and
Speaker 4: by then Trump will no longer or be president.
Speaker 3: Well, we've been fighting inflation and after the pandemic. Well,
Speaker 3: let me rephrase this. During the pandemic, we saw a
Speaker 3: lot of problems with the chokehold around supply chains, and
Speaker 3: that impacted the auto industry pretty significantly during the pandemic.
Speaker 3: Did we ever fully recover from that or we back
Speaker 3: to where we were before twenty twenty?
Speaker 4: We are just now getting back with inventory levels, at
Speaker 4: least in the auto industry, back up closer to what
Speaker 4: normal was. So there's going to be a little bit
Speaker 4: of a cushion before it hits US, but it was
Speaker 4: very disruptive for the supply chain, and you're going to
Speaker 4: see the same thing. Some of these parts going into
Speaker 4: that vehicle go back and forth across the border three
Speaker 4: or four times before the finished vehicle is sold. So
Speaker 4: you don't just pay the tariff lunch, you pay it
Speaker 4: each time it goes across the border. So it's going
Speaker 4: to be a huge impact for all of those and
Speaker 4: most of the vehicles in the US have at least
Speaker 4: twenty to fifty percent foreign parts that go in coming
Speaker 4: from outside the US.
Speaker 2: And then at what point.
Speaker 1: Do we talk about the potential for a government bailout
Speaker 1: of the American car companies if they are hit hard
Speaker 1: to the point of needing help.
Speaker 4: Well, we've done it more than once. We've done it
Speaker 4: at least a few times. For what's now called Stilantis
Speaker 4: used to be called Chrysler. They've been bailed out multiple times.
Speaker 4: But I think for the most part, you have different
Speaker 4: levels of pain. So Ford has eighty percent of their
Speaker 4: vehicles made in the US. The parts are going to
Speaker 4: become more expensive as they come back and forth across
Speaker 4: but Stillantis has a lot of their content and gener motors.
Speaker 4: Even more of their content susstible to US and Mexico.
Speaker 4: So the best or Canada and Mexico. The best hope
Speaker 4: is that they can negotiate some changes in what is
Speaker 4: or what is not covered by the tariffs, and that
Speaker 4: has been changing, so the USMCA, the NAFTA two point
Speaker 4: zero that President Trump negotiated in this previous administration. If
Speaker 4: they can maintain some of those conditions, it made less
Speaker 4: than some of the impact from US, Mexico and Canada.
Speaker 4: But for right now, they're all on the hook.
Speaker 1: When you look at Asia, who needs who more. Do
Speaker 1: we need the parts that are made in Asia at
Speaker 1: the cost that they're made there more? Or do they
Speaker 1: need American consumers buying their vehicles and their parts more.
Speaker 4: I think it's a global dependence on each other. So
Speaker 4: I think they need us, and I think we need them.
Speaker 4: But at some point in time, can China survive without
Speaker 4: the US market? Yes, they got more than a billion,
Speaker 4: four one hundred million people there, so yes, they have
Speaker 4: their own market. Can the US survive on their own yes?
Speaker 4: Will it cost us all more money, yes, but we
Speaker 4: can We can get by on our own. But it's
Speaker 4: a whole lot easier if we all work together.
Speaker 2: Art, great stuff.
Speaker 3: We really appreciate you taking time for us today.
Speaker 4: Thank you my pleasure.
Speaker 3: You bet Arthur Wheaton there again, director of Labor Studies
Speaker 3: at Cornell.
Speaker 2: You call him Art, well, I hope, I mean that's
Speaker 2: why I did it.
Speaker 1: At the end, I don't know if you knew him
Speaker 1: because you called him Art like that's that's the next
Speaker 1: level relation. I mean, I guess we aret we talked
Speaker 1: to him. You didn't call him art right out of
Speaker 1: the gate, No, I.
Speaker 2: Waited, I warmed up right. I let him think we
Speaker 2: were friends.
Speaker 1: He could be one of those guys who's only been
Speaker 1: Arthur his whole life.
Speaker 3: Well, the article where we found him from Bloomberg, he
Speaker 3: went by Art.
Speaker 2: Oh good.
Speaker 1: I'm so glad I didn't break ice on that because
Speaker 1: I wanted to have him back. But if you offended
Speaker 1: him and burn that bridge. As we were saying goodbye.
Speaker 2: A little bit later in the show, we're going to
Speaker 2: talk about the the A's.
Speaker 3: Not the well, the Sacramento A's and the drone that
Speaker 3: interrupted the games.
Speaker 1: Yes, so I saw pictures from that game, and it
Speaker 1: looked very much like spring training, which is really cool.
Speaker 1: It's the most expensive to it, by the way, in
Speaker 1: Major League Baseball right now. Oh really, because there's only
Speaker 1: fourteen thousand seats.
Speaker 2: I get and it was packed. Yeah, I don't know
Speaker 2: what I mean. That was opening night, but it.
Speaker 1: Looked very cool. It's a great ballpark there in West Sacramento.
Speaker 3: All Right, we'll talk about that a little bit more
Speaker 3: on tariffs at the bottom of the hour. We're going
Speaker 3: to continue this look because specifically, the auto industry is
Speaker 3: the one that we have at least sort of a
Speaker 3: better handle on when it comes to how tariffs could
Speaker 3: affect what goes on in the future.
Speaker 1: Ooh, and coming up next, it looks like Trump's next
Speaker 1: tariffs are going after big pharma.
Speaker 2: How that's going to affect your pills? We come back.
Speaker 5: You're listening to Gary and Shannon on demand from KFI
Speaker 5: AM six forty.
Speaker 1: Hey, you like botox, you like waygo v, you like
Speaker 1: zep bound, you don't like cancer. These are all drugs
Speaker 1: or active ingredients for these drugs that suppliers are shipping
Speaker 1: now by air to the United States because they're worried
Speaker 1: about tariffs on pharmaceuticals. EU medicine and pharmaceutical product exports
Speaker 1: to the US totaled about ninety billion euro about ninety
Speaker 1: seven billion dollars in twenty twenty three. Several investors and
Speaker 1: analysts following this whole deal say that well shares are
Speaker 1: already hurting, but there have actually been drug makers taking
Speaker 1: the unusual steps of sending medicines by air.
Speaker 2: To the US just to get them here, just to.
Speaker 1: Get them here before the Liberation Day tomorrow. Two European
Speaker 1: headquartered drug makers told Reuters they're sending as much of
Speaker 1: their medicines across the Atlantic as possible. They've been doing
Speaker 1: over the past several weeks, they heard other pharmaceutical companies
Speaker 1: are doing the same.
Speaker 3: So on Friday, Trump said that the specific tariffs when
Speaker 3: it comes to pharmaceuticals would be coming soon. And part
Speaker 3: of the issue you that has driven the markets crazy
Speaker 3: over these last few days and weeks is that there
Speaker 3: are no specifics about all of this just I mean
Speaker 3: literally minutes ago, Caroline Levitt in the White House Press
Speaker 3: briefing said, the President has decided on all of these.
Speaker 2: He's just not talent anybody yet.
Speaker 6: The President said last night he has made a decision
Speaker 6: in a determination. I was with him in the Oval
Speaker 6: Office earlier, and he is going to announce that decision tomorrow.
Speaker 6: I don't want to get head of the president. This
Speaker 6: is obviously a very big day. He's with his trade
Speaker 6: and tariff team right now perfecting it to make sure
Speaker 6: this is a perfect deal for the American people and
Speaker 6: the American worker, and you will all find out in
Speaker 6: about twenty four hours from now.
Speaker 3: Yes, so about one o'clock I believe tomorrow is when
Speaker 3: the President's expected to make these announcements.
Speaker 1: Pharmaceutical products have long been spared from trade wars.
Speaker 2: Due to potential harms.
Speaker 1: Right, we need those, but Trump's move to increase tariffs
Speaker 1: on goods from China, including finished drugs and raw ingredients,
Speaker 1: as well as the early round of tariffs on goods
Speaker 1: like steel and bourbon, has raised the expectations that medicines
Speaker 1: will join the list.
Speaker 3: I am it sounds a lot like the determination about
Speaker 3: how we're going to do these auto tariffs as well,
Speaker 3: whether it's the finished product or the ingredients the main
Speaker 3: ingredients in them, or.
Speaker 2: Both or both.
Speaker 4: Yea.
Speaker 3: Trump had previously singled out Ireland specifically because apparently Ireland
Speaker 3: is home to manufacturing plants for most of the world's
Speaker 3: top ten pharmaceutical companies.
Speaker 1: Yeah, who knew. I just learned that this morning.
Speaker 3: So again the details of it still hidden somewhere deep
Speaker 3: within the White House. And it turns out that President
Speaker 3: Trump has scheduled a news conference tomorrow to get into
Speaker 3: some of the details.
Speaker 2: We had seen.
Speaker 3: For the most part, another down day on Wall Street
Speaker 3: because of the uncertainty that surrounds all of the all
Speaker 3: of the tariff decisions, and in fact, the announcement, significantly
Speaker 3: I mentioned comes at one o'clock, one o'clock hour time
Speaker 3: after the bell closes, after the market's close on Wall Street.
Speaker 1: Coming up next, we touched on the auto industry and
Speaker 1: the tariffs ahead for the auto industry. We're going to
Speaker 1: be talking to a senior editor at Kelly Bluebook and
Speaker 1: Auto Trader about what does this mean if you're in
Speaker 1: the market for a car, maybe you've got a used
Speaker 1: car on your hands. Is this a time to sell
Speaker 1: and to buy because of the uncertainty.
Speaker 2: We'll get some answers when we come back.
Speaker 5: You're listening to Gary and Shannon on demand from KFI
Speaker 5: AM six forty.
Speaker 1: This is a case that has dissected bisected Boston in
Speaker 1: terms of opinion, with a lot of people believing that
Speaker 1: she's the one to blame for the murder of her
Speaker 1: boyfriend who was a Boston police officer. And then there's
Speaker 1: the camp that is in Karen Reid's defense and says
Speaker 1: that it was a cover up by police officers and
Speaker 1: that it was a drunken night gone wrong and they're
Speaker 1: pinning it on her anyway. It was a hung jury
Speaker 1: the first time, and today jury selection begins again. We'll
Speaker 1: get into it coming up in the twelve o'clock hour.
Speaker 3: Well, we're already concerned about inflation. There's some speculation maybe
Speaker 3: some anxiety even about Liberation Day, when a bunch of
Speaker 3: tariffs are supposed to be imposed on stuff that's imported
Speaker 3: into the United States. One of those imports is going
Speaker 3: to be the price of cars is going to go up.
Speaker 3: I don't know how it couldn't joining us to talk
Speaker 3: more about this. Brian Moody is senior editor at Auto
Speaker 3: Trader in Kelly Bluebook. Brian, first of all, thanks for
Speaker 3: taking time and help us try to untangle some of
Speaker 3: what's about to happen to the economy.
Speaker 7: Yeah, of course, it's interesting the way this has moved
Speaker 7: all of a sudden. The automotive space has more new
Speaker 7: news than say the Hollywood Reporter.
Speaker 2: Well, listen, we don't.
Speaker 3: I think one of the issues about the tariffs is
Speaker 3: people are having hard time kind of wrapping our heads around, well.
Speaker 1: Do we buy now because we just don't know what's
Speaker 1: going to happen with the dealerships. Do we sell our
Speaker 1: used cars now because or do we wait because those
Speaker 1: prices are going to go up?
Speaker 7: Right, the prices are going to go up. So here's
Speaker 7: the main thing that I would say. If you're looking
Speaker 7: for a used car, and for the purposes of this conversation.
Speaker 7: When I say used, I mean a lightly used car
Speaker 7: between one and five years old. If you're looking for
Speaker 7: a ten thousand dollars car with one hundred thousand miles
Speaker 7: or whatever, that's probably not going to change that much.
Speaker 7: It's the lightly used cars that, by the way, we're
Speaker 7: already in short supply because of the new cars that
Speaker 7: didn't get made during the pandemic. So if that's you,
Speaker 7: as a customer of a lightly used car, I would
Speaker 7: absolutely start looking right now.
Speaker 3: When it comes to the price increases that we do
Speaker 3: expect on imported cars. With the ones that are I
Speaker 3: mean it's hard to even explain this, but predominantly foreign vehicles,
Speaker 3: even though some of the parts may come from the
Speaker 3: United States, those prices are going to go up.
Speaker 2: Is there a specific.
Speaker 3: Segment of the car industry that will see more of
Speaker 3: an impact?
Speaker 2: Is it the higher higher price cars, the lower price cars.
Speaker 7: You know what's hard to It's not going to go
Speaker 7: by price, however, I say that, but what automakers may
Speaker 7: do is look at their entire portfolio and say, hey,
Speaker 7: these inexpensive cars are built here in the US, and
Speaker 7: these priceier cars are built outside. They can't just raise
Speaker 7: prices on certain cars. Not On the other they're going
Speaker 7: to try to even it out, get suppliers to ship in,
Speaker 7: but even it out across their model lines so that
Speaker 7: there's less of a sticker shock. So, for example, an
Speaker 7: economy car that costs twenty five thousand dollars simply can't
Speaker 7: support a three thousand dollars price increase, right, But a
Speaker 7: ninety thousand dollars pickup, if you add thirty five hundred
Speaker 7: dollars to that price, that customer probably can support that.
Speaker 7: And the other thing to remember is when we say
Speaker 7: import and domestic, the truth is many brands that we
Speaker 7: think of as imports, such as Honda, Nissan, Toyota, Merceites, Benz,
Speaker 7: those companies build their cars in the US for the
Speaker 7: most part. And on the other hand, a lot of
Speaker 7: domestic brands, not all, but they build many of their
Speaker 7: models outside the US, specifically Mexico or Canada.
Speaker 1: Do you see this global market, I'll ask you this question.
Speaker 1: It's become a global market. It's not as easy to
Speaker 1: say buy American anymore because of what you just mentioned.
Speaker 1: A lot of the parts are coming from other places.
Speaker 1: Do you see it being a situation where we could
Speaker 1: bring parts manufacturing back to this country, primarily for American
Speaker 1: cars in our lifetime.
Speaker 7: It's possible, and some manufacturers are already doing that. For
Speaker 7: we see Tesla as a model for that. They make
Speaker 7: a lot of their cars in the US and they
Speaker 7: also have a battery and power train facility inside the US,
Speaker 7: as as the Hyundai Motor Group. Hundai Motor Group solves
Speaker 7: the brands Hyundai, Kia, and Genesis, and they just built
Speaker 7: a new gigantic factory near Savannah, Georgia, but not only
Speaker 7: will manufacture cars for three brands, but also have an
Speaker 7: on site battery facility, So yes, that is possible. Nissan
Speaker 7: has an engine plant in Tennessee that also services Nissan vehicles,
Speaker 7: so yes, that's not uncommon.
Speaker 2: But we're hopefully. I mean, the whole goal of.
Speaker 7: This is that you see more of that. But you know,
Speaker 7: this is all just speculation at the end of the day.
Speaker 7: Does any of that mean lower prices for consumers even
Speaker 7: five years from now? I really don't know.
Speaker 1: Is there a brand that you see faring better?
Speaker 7: A brand that has a diverse portfolio of cars made
Speaker 7: in multiple places will probably do better. Of course, we
Speaker 7: could say any brand where all the cars are made
Speaker 7: inside the US would be great. But the truth is,
Speaker 7: as you said before, parts come from their places. There
Speaker 7: really is no such thing as a one hundred percent
Speaker 7: inside the USA made car. So Tesla has lots of
Speaker 7: cars that come from the US, they probably would be okay, Rivian.
Speaker 7: Same thing when you look at Nissan, they have a
Speaker 7: large number of cars made inside the US, but also
Speaker 7: some made outside the US. So those types of brands.
Speaker 7: Toyota makes many of the cars they sell in the
Speaker 7: US right here in the US.
Speaker 2: I want to ask you about Tesla specifically.
Speaker 3: Some critics of Elon Musk and the President have said
Speaker 3: that this was a favor to Tesla because it, like
Speaker 3: you said, does.
Speaker 2: Produce a lot of vehicles here in the US.
Speaker 3: But don't they also have factories in other parts of
Speaker 3: the world that specifically cater to those other parts of
Speaker 3: the world.
Speaker 7: Yeah, and that's the way that they've been doing business.
Speaker 7: So that's what's so odd about this is that for
Speaker 7: decades we've been sort of helping to orchestrate a system
Speaker 7: whereby manufacturers build where they sell. Now they don't just
Speaker 7: sell cars in the US. There's a good chance that
Speaker 7: whatever car they sell in the US they also sell
Speaker 7: in Mexico and South America. It only makes sense to
Speaker 7: centralize the location for building those cars for the purposes
Speaker 7: of a scale and also just economics. So yes, while
Speaker 7: one manufacturer like Bulbo or Tesla might make cars here
Speaker 7: in the US, they also make them other places to
Speaker 7: sell to those markets. And while it may advantage Tesla
Speaker 7: to have a tariff that only goes toward cars coming
Speaker 7: from outside the US, it would also advantage cars like
Speaker 7: the Ford Mustang GT, certain versions of the Jeep Wrangler,
Speaker 7: the Volkswagen ID four, as well as the Honda Odyssey,
Speaker 7: Honda Ridgeline, and other vehicles like that. Anybody who builds
Speaker 7: their cars inside the US, Kia is another one. It's
Speaker 7: going to help them. It wouldn't just only help Tesla.
Speaker 7: That would be silly.
Speaker 1: Brian, you drive a sob Any chance of the manual
Speaker 1: transmission making a comeback in this country.
Speaker 7: Nobody cares about that.
Speaker 2: I totally do.
Speaker 1: I miss the manual transmission.
Speaker 7: I know, because you know what you missed from not
Speaker 7: having a manual transmission. You you you are required to
Speaker 7: be so focused on what's happening right in front of you.
Speaker 7: It's like you're forced to have a higher level of attention.
Speaker 7: I think all of these self driving programs are going
Speaker 7: to end up being harmful in the end. So while
Speaker 7: I can brag that I got my daughter to be
Speaker 7: embrace sobs and she has one of those too, I
Speaker 7: fear I'm going to be one of the only few
Speaker 7: people like that in my neighborhood for many years to come.
Speaker 3: Well, Mike, both of my kids learned on stick and
Speaker 3: I can't. It's one of the greatest gifts I think
Speaker 3: that my wife and I gave our kids is the
Speaker 3: ability to drive a manual transmission.
Speaker 7: Yes, and it also I've noticed something in teaching kids
Speaker 7: to drive, Like sometimes at work will have an intern
Speaker 7: and they'll say, oh, well, I want how to drive
Speaker 7: a stick shift, And when you teach them, they'll say
Speaker 7: things like this, how does the car no one to
Speaker 7: stop when you push in the clutch, And you're like,
Speaker 7: oh my god, we got to switch. Oh man, I
Speaker 7: have a connection with the physical world, the way we
Speaker 7: turn our bikes upside down and put dirt on there
Speaker 7: and chain the tires. They don't have that connection with
Speaker 7: the They learned to drive on video games.
Speaker 2: Honestly, God, that's depressing. Brian thank you.
Speaker 4: Thank you.
Speaker 3: Brian Moody, their senior editor at Auto Trader and Kelly
Speaker 3: Blue Book.
Speaker 2: Hey, I've got a bunch of mail. You want to
Speaker 2: get to that guy?
Speaker 1: Do that when we can do what I've got like
Speaker 1: several pieces of mail for us.
Speaker 5: You're listening to Gary and Shannon on demand from KFI
Speaker 5: AM six forty.
Speaker 3: President Trump has said he settled on a plan for
Speaker 3: the latest bash of tariffs expected this week, but he
Speaker 3: hasn't revealed what he decided. At the White House Press
Speaker 3: conference just a short time ago, Caroline Levett, the Press Secretary,
Speaker 3: did say that President is going to make a big
Speaker 3: announcement about one o'clock our time tomorrow. Worries about the
Speaker 3: tariffs and the economy since the sm P five hundred
Speaker 3: and the nasdak so their worst quarters since twenty twenty two.
Speaker 3: As of right now, all of the arrows are green
Speaker 3: once again, but that's after a few hours of trading
Speaker 3: a negative territory.
Speaker 2: The Dow is up just a point right now.
Speaker 3: S and P five hundred is up seventeen, Nasdaq is
Speaker 3: up one hundred and thirty one.
Speaker 1: Adults are shoplifting, it's not because they don't have money.
Speaker 1: They're shoplifting from whole Foods. It's called revenge stealing. And
Speaker 1: we'll tell you about it coming up in the next hour.
Speaker 3: Little windy by the way, today southern California, we'll see
Speaker 3: wind conditions gusts expected up to forty five miles an
Speaker 3: hour from most areas, some stronger gusts than the deserts
Speaker 3: and mountains until tomorrow. Frighteningly cold last night, really so
Speaker 3: I went outside to get the mail and it was
Speaker 3: really good time, six o'clock sixty. Maybe some reason the
Speaker 3: wind was whooped the through just not the case where
Speaker 3: I live.
Speaker 2: It bad.
Speaker 1: Are you going to be okay? You're gonna make it?
Speaker 2: I well, I had to put pants on.
Speaker 1: Actually, I know when you're home you hate wearing pants.
Speaker 1: That must have been a struggle. We got a bunch
Speaker 1: of mail. We got a postcard. I love this postcard
Speaker 1: PS that says, don't be a salty bitch Alaska. It's
Speaker 1: from Casey and Anaheim. Casey says, Hi, Gary and Shannon.
Speaker 1: I thought you might like the new Betty White stamp.
Speaker 1: Stay salty and oh Betty White stamp. Thank you, Casey.
Speaker 1: Casey actually in Hawaii, Anaheim, Oh you said an. I said, alas, Alaska.
Speaker 1: Are you high having a stroke?
Speaker 4: Just high?
Speaker 1: Okay, I'm just high. Let's see here. This is from Kenneth. Oh,
Speaker 1: it's taped shut and it just says my name. Well
Speaker 1: maybe that's good because this is for private time.
Speaker 3: If he tapes it shut, it's a less licking on
Speaker 3: the envelope for you.
Speaker 2: There's several pieces of paper. Is that a receipt for something?
Speaker 1: Let's see here. Hi, Shannon, I'm just gonna cold read this.
Speaker 2: Go for it. I love one could go wrong.
Speaker 1: I love your and Gary show, and I listened to
Speaker 1: it almost daily. I was listening this morning Wednesday, March
Speaker 1: twenty sixth when you were commenting that you just can't
Speaker 1: present yourself a visit the president present. Well, maybe you
Speaker 1: didn't hear the story, but Elvis did just this when
Speaker 1: he dropped by the White House. Oh, I guess you
Speaker 1: can't just go to the White House and say you
Speaker 1: want to visit the president. I see, maybe you didn't
Speaker 1: hear the story, but Elvis did just that. Well, Kenneth,
Speaker 1: I'm not Elvis. I don't know if you knew that right.
Speaker 1: He just dropped by the White House. He got a
Speaker 1: visit with President Nixon. Just let you'd be interested in
Speaker 1: knowing about it.
Speaker 2: So there you go.
Speaker 1: And then here's the story about how Elvis met Nixon
Speaker 1: fifty years ago today and one of the weirdest White
Speaker 1: House meetings in history.
Speaker 2: Well that's cool. I'll give that a read.
Speaker 1: But again, I still don't think I could turn up
Speaker 1: at the White House and say that I wanted to
Speaker 1: meet the President knock on the door. See here's another one.
Speaker 1: This one's not taped shut. This is from no name.
Speaker 1: This is for both of us, and it is typed
Speaker 1: with a typewriter. This is from Mike, Mike, Gary, and Shannon.
Speaker 1: A note on your discussing baseball movies early in the
Speaker 1: show today, this is about AIDS.
Speaker 2: Was less cold reading here.
Speaker 1: Oh sorry, okay, Shannon, you thought the nineteen seventy three
Speaker 1: movie Bag the Drum Slowly starring Robert de Niro was
Speaker 1: a movie about AIDS when it's about a baseball player
Speaker 1: dying of cancer.
Speaker 2: Yeah, we went over that.
Speaker 1: Then you guys realized the movie you were trying to
Speaker 1: think of was and the Band Played On, which is
Speaker 1: about the emerging AIDS crisis in the eighties and nineties.
Speaker 1: There's an Iceberg, Leo DiCaprio, Fox Eleven, Steve Gregory, many
Speaker 1: different things.
Speaker 2: Oh, he thinks we're being sued.
Speaker 4: By the.
Speaker 1: Maybe a tax case anyway, that's something to look into later.
Speaker 1: And finally, here's one with a lot of eagles on it,
Speaker 1: a lot of stickers of eagles. That's good. We like eagles.
Speaker 1: This is from This is also tape shut. It's from
Speaker 1: Ruth and this is for Deborah too. Uh, there's an
Speaker 1: eagle with an American flag.
Speaker 2: Oh, that's a nice card.
Speaker 1: And it's his best show on KFI. That's all the
Speaker 1: card says. That's pretty cool. The thing is, if we
Speaker 1: put that up in the office, it'll look like we
Speaker 1: did it. Dear Shannon, Deborah and Gary. With all of
Speaker 1: the talk about the big Bear Eagles and their nest,
Speaker 1: I thought i'd send you this. It's one of my
Speaker 1: favorite cartoons. It's from the New Yorker magazine. Hope it
Speaker 1: brings a smile to your faces, like you've brought to
Speaker 1: mind all the best Ruth. And there's another sticker of
Speaker 1: an eagle. There's here's the cartoon. There's always one annoying
Speaker 1: piece left over. Oh, I see like there the nest
Speaker 1: is a puzzle and they don't know where the stick goes.
Speaker 1: Oh that's good. It took me a really long time
Speaker 1: to figure that out.
Speaker 2: It did take you a strangely long time. I was
Speaker 2: waiting for you to do the math on that.
Speaker 3: For me, you know, like a bird putting together an
Speaker 3: Ikea nest or something like that.
Speaker 1: Yeah, I get it now, Thank you, Thank you very nice.
Speaker 2: It's always fun to get mail.
Speaker 3: I don't know if you felt that, but uh, someone's
Speaker 3: taken it right out of your wallet without you knowing.
Speaker 2: Oh yeah, more tax.
Speaker 1: Oh, the sales tax is up today. We'll tell you
Speaker 1: what you need to know. It's here in La County
Speaker 1: or La City County.
Speaker 2: Great, yeah, more so, more more.
Speaker 3: If you miss any part of the show, you can
Speaker 3: always go back and check out the podcast.
Speaker 2: Go to KFIAM six forty dot com s last Ruth.
Speaker 2: It's the best show.
Speaker 3: Or you can go on the iHeartRadio app and type
Speaker 3: in Gary and Shannon or anywhere you find your podcast.
Speaker 3: Just type in Gary and Shannon and we'll come up.
Speaker 3: We promise you've been listening to the Gary and Shannon Show.
Speaker 3: You can always hear us live on KFI AM six
Speaker 3: forty nine am to one pm every Monday through Friday,
Speaker 3: and anytime on demand on the iHeartRadio app.