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All right, guys, Roll coaster on Wall Street is We've been describing it As markets react to Corona virus Fear Super Tuesday wins former vice president Joe Biden. Joining us now is Jeffrey Weener, who's the chairman and CEO of Markham. L L P. Jeffrey Brick. Abby, Back here one morning. Thanks for having me. Let's dive right in. Why are received such a wild swings here? Well, you said it just before its uncertainty. Certainly the economic impact of the Corona virus is not known and will not be known. All we know is it's gonna have a bad impact on the economy, certainly for the first quarter and into the second quarter, depending on how long the virus last on how bad it gets. But we're seeing it today with JetBlue and United scaling back their flights united by 10% JetBlue by 5% and the ripple effect through the economy of travel and leisure people staying home from work. And you know not being out whether it's transportation, whether it's lunch, it work, things like that, there is gonna be a ripple effect of the economy. That's just not gonna come back. How long would it take for a recovery. Let's not talk about that yet. I want I want to know from you how bad things could get. How bad do you think that I think about where we are right now? Right? State of emergency in California. Some scattered schools are closed right now. There are lots of people who have been exposed in Westchester aren't aren't our quarantine right now, but still, given the entire what we're thinking about the entire country, It's still small pockets and small portions. But what could happen? It could get pretty back. It could. I'm a glass half full person, so I try not to look at how bleak it could get. But the economic impact, this stuff that's not recoverable from the conference is that it be cancelled. The public events that are being canceled, they don't come back. You just can't have a 1000 person event. Cancel it this week and get it back next week. The logistics just not workable, so there will be a permanent impact to the economy. We will recover from it, but we may have 1/4 or two of No. One negative growth, and that's technically a recession territory How are the markets to digest? President Trump's comments yesterday, which did not acknowledge though what's the actual death rate? Is a zoo result of the Corona virus? On downplaying that? How did the market's really think about that at this point in time when clearly we need more transparency and not modeling of the back? I think the market's discount president Trump's comments because they realize he team to some extent doesn't know exactly moving about in the past. So why would this be different? Because they realize this is science and this is, you know, this is health related. They listen to doctors. President Trump is trying to be a cheerleader here, so I think people know what he's saying is not factually based. We had Tim Hanshaw on the phone or on the show earlier this week. He's the CEO of hotel planner. He says this is the biggest issue. Basically, the hotel planet has ever faced started back in 2002 he called on the government actually offer aid to companies that have been affected by this. Do you think we'll get to the point where the government actually needs to bail out or help out companies that have been effective. I'm not sure if they're gonna have to bail out. Certainly, company's gonna make less money, right? You know, that's not the government. I think it's premature to see if we actually need a bailout. You know, the economy has been good. Companies have been making record profits. The market was in record territory. So you know, if people make less money while nobody wants to talk about it, it's not terrible. People are not going to necessarily go out of business. If I even see goes down from 98% to 75% well, maybe they'll make less money. But I don't think it's the thing that puts people out of business. If people stop traveling, they closed airports. They stop playing one airline, take a hit already, like one airline flybys essentially going out of business. Well, that was probably not a well capitalized airline and probably had other systemic business problems. So when there's a little blip, But, you know, you talk about major companies United Airlines Jet Blue. If United cuts its its flights by 10% temporarily, it's not gonna put it out of business. They don't need a bailout. I won't put it out of business. But a 20% cut in April that they're talking about that will significantly decrease the number of flights that they're gonna take. That they're going to be making a number of passengers, that they're going to be able to really charge for some of these ancillary fees. Some of them are waiving fees here and there. But some of them still do rely on these fees at a time where the rest of the business is in a state of turmoil. This certainly gonna be in a good economic impact. The big companies can weather the storm. It's more about the people who are being laid off a za result of the cutbacks who live paycheck to paycheck anyway. So I'm more worried about the middle class tour in a household where one of them is a flight attendant for Jet blue. And now they're gonna lose 25% of their income or something, because they're not flying. How do you think this may impact the jobs report? Once we finally do get some more of that insight and clarity in the data, it's certainly gonna have a negative impact until the extent of the viruses known and and when it peaks and we start to see the back end of it, I want to talk politics we haven't you on since Super Tuesday. Biting a big night for him. Big comeback yesterday. What we saw was a big comeback in the markets. Some are calling this the biting rally. Since you're saying, Hey, it's looking less and less like Bernie Sanders is going to be the Democratic nominee for vice president. Biden could be the one to take on President Trump. How does that change your outlook for November? Well, I certainly I think the markets are happier that Biden is the front runner than Sanders. I think the market's view Sanders is bad for the economy, bad for the markets. So ah, Biden Trump contest is something the markets are looking for. You know, I It remains to be seen how much money Mike Bloomberg puts behind Biden and really, how close it is. But, you know, from being down and out two weeks ago, Biden looks like the Comeback kid. As you've seen more of the moderates now get behind Biden. What would that kind of signal for a Biden ticket going into the next election. Does that read Position the streets way of looking at the Democratic Party going into? I think so. I think the street was concerned that the Democrats Democratic Party was going too far left. No, this is not a socialist country. And you can only spend other people's money for so long. So I think the street is happy that we're either gonna have Trump. The street tends to like Trump. He's pro business is Prodi regulation. But at least it looks like there's a Democrat who's gonna run who is not gonna be as is. Who's gonna be friendly to business. Then perhaps Sanders would not as destructive. That is disruptive. Exactly. All right, guys, that is Jeffrey Weener, who's the chairman and CEO of Markham. Elope. Always a budget. Thanks for having me good seeing you guys.