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Speaker 2: Other major news story just crossing the tape of breaking
Speaker 2: this morning. Donald Trump, the first former US president convicted
Speaker 2: of a felony, was sentenced by a New York judge
Speaker 2: Friday to no jail or probation for his hush money case.
Speaker 2: Joinings right now is June Grassol, Bloomberg's legal analyst.
Speaker 3: Here, June. No surprises here for you, No.
Speaker 4: Really, no surprises at all. I thought it would take
Speaker 4: much longer if Trump decided to speak.
Speaker 5: So he did give a.
Speaker 4: Little rambling speech, echoing things that he said over and
Speaker 4: over again, how this is a witch hunt, how it's
Speaker 4: not fair even talking though about the election. He got
Speaker 4: a few things in there. So, I mean, this is
Speaker 4: what the judge had said he was going to do.
Speaker 4: He was going to sentence him to an unconditional release.
Speaker 4: There was not going to be any kind of prison time,
Speaker 4: no penalties, no fines, nothing. It's just the stigma of
Speaker 4: now being a convicted felon and in ten days being
Speaker 4: the first president to be sworn in as the President
Speaker 4: of the United States as a convicted felon. I think
Speaker 4: that's what he's been trying to avoid all along.
Speaker 6: Well, Juna does say that Trump plans to appeal the
Speaker 6: verdict and seek to overturn his conviction through the appeals process.
Speaker 6: What would that look like. What is the likelihood of
Speaker 6: that outcome?
Speaker 4: Well, so Trump has appealed just about every decision legal
Speaker 4: decision that has been handed down against him, So this
Speaker 4: is no surprise. He's already started to appeal some of
Speaker 4: the motions and some of the things the judge did.
Speaker 4: So what happens is once the sentence is handed down,
Speaker 4: I have about thirty days to say whether or not
Speaker 4: they're going to appeal, and then they do their arguments
Speaker 4: in an appellate brief to the Appellate Division in this case,
Speaker 4: and then he can Probably he'll probably appeal whatever they
Speaker 4: say if it's not good for him, to the highest
Speaker 4: court in New York, which is the New York Court
Speaker 4: of Appeals, and most likely to the Supreme Court, because
Speaker 4: he's going to be arguing about these presidential immunity decisions
Speaker 4: and whether they affected In other words, what happened here
Speaker 4: is he said after that presidential immunity decision came out,
Speaker 4: he said that Judge Mrchon shouldn't have allowed in some
Speaker 4: of the testimony from example, for Hope Picks, which had
Speaker 4: taken place in the White House, because that was done
Speaker 4: in the course of his presidential duties. Judge Marchon disagreed
Speaker 4: with that and also said that there was overwhelming evidence,
Speaker 4: so that wasn't even needed for the jury. So that's
Speaker 4: going to be one, definitely one of his points of appeal.
Speaker 2: What else is out there for the president? Like most people,
Speaker 2: I can't keep track, and I think it feels like
Speaker 2: most of them are rather resolved or dismissed or well.
Speaker 4: When he takes office, nothing is going to happen to
Speaker 4: him at all for four years because they won't go
Speaker 4: after there's no prosecution of sitting presidents. The Georgia case
Speaker 4: still sort of hanging around in appellate courts.
Speaker 5: It was the.
Speaker 4: Prosecutor there was thrown out because of a relationship with
Speaker 4: another prosecutor on the case, So that's left that very tenuous.
Speaker 3: That case is.
Speaker 4: Still there, But I mean, really most he'll just have appeals,
Speaker 4: the appeals of this, and the classified document case goes
Speaker 4: forward without him.
Speaker 2: Something else in front of the Supreme Court, that TikTok
Speaker 2: price for hundreds of millions of people out there, I think,
Speaker 2: care about this?
Speaker 3: What do you expect this to play out?
Speaker 4: You know, this is hard, and I'm about to try
Speaker 4: to listen to the oral arguments, so we'll try to
Speaker 4: see how the justices feel. It's very hard because in
Speaker 4: this case, the United States is claiming that this is
Speaker 4: a matter of national security, and with matters of national security,
Speaker 4: the justices usually leave it up to the executive branch
Speaker 4: when the executive branch has a lot of authority and
Speaker 4: there's deference to the executive branch. But at the same time,
Speaker 4: you know, the First Amendment experts I've spoken to talk
Speaker 4: about this as a First Amendment violation, the violation of
Speaker 4: the First Amendment rights of the millions and millions of
Speaker 4: people who are on TikTok and who don't have any
Speaker 4: other way to express themselves exactly the way they do
Speaker 4: on TikTok. So we'll see what happens. It's one thing
Speaker 4: is for sure, it's going to be a very fast
Speaker 4: decision because they're going to come down with it before
Speaker 4: the band goes into effect.
Speaker 6: I know, president like Donald Trump has also spoken out
Speaker 6: about his view on this whole idea of the TikTok ban.
Speaker 6: How much of a sway does it even seem that
Speaker 6: he would be able to make toward this decision.
Speaker 4: Well, he has been his views as on many things
Speaker 4: have been varying. On TikTok he was against it than
Speaker 4: for it, against it, now he is apparently for it.
Speaker 4: He submitted a brief to the Supreme Court as the
Speaker 4: upcoming president, the president elects saying that the court should
Speaker 4: delay the law going into effects so that he could
Speaker 4: come in and solve the problem. And it talked about
Speaker 4: him being a master deal maker and how he's the
Speaker 4: only one who can come in and solve this whole problem.
Speaker 4: I mean, how much that carries.
Speaker 3: We have to see. All right, Judan, thank you so much.
Speaker 3: We appreciate it.
Speaker 2: June Grosso, a legal analyst for Bloomberg, giving us the
Speaker 2: latest on the sentence handing down from the New York
Speaker 2: Court here in President Trump, as well as the oral
Speaker 2: arguments being heard right now in the US Supreme Court
Speaker 2: regarding TikTok and the ownership there.
Speaker 3: So we'll keep in touch with June.
Speaker 1: You're listening to the Bloomberg Intelligence Podcast. Catch the program
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Speaker 2: It is normal Linda sitting in for Alex deal on
Speaker 2: Paul Swinginger live here in our Bloomberg Interactive Brokers studio, streaming.
Speaker 3: Live on YouTube as well.
Speaker 2: Let me get to the economic data points we saw today,
Speaker 2: particularly the job zumbers. We can do that with Jeffrey Cleveland,
Speaker 2: chief economist for Peydon and Regal. Jeffrey, thank you so
Speaker 2: much for joining us. Jeffrey, I know you're based in
Speaker 2: Los Angeles. You know, terrible situation out there. I wonder
Speaker 2: if we could just get a couple of minutes from you.
Speaker 2: You're right on the ground there in Los Angeles. Uh,
Speaker 2: kind of what's the experience like, Well, it's I.
Speaker 7: Mean, condolences to all the families who've lost property and
Speaker 7: loved ones and you know, big shout out to all
Speaker 7: the first responders. I think it's it's just amazing working
Speaker 7: through the night here to to try and keep things
Speaker 7: in check. I mean, this is an ongoing situation. We're
Speaker 7: still in the midst of it. You know. Fortunately, in
Speaker 7: my personal situation, we've been very fortunate, and it's great
Speaker 7: to see the community in Los Angeles, a lot of
Speaker 7: neighbors coming together and helping each other.
Speaker 5: So I think that that's been you know, you know,
Speaker 5: one positive.
Speaker 7: Aspect of this, of this whole affair, all right, Jeffrey,
Speaker 7: our thoughts and fairs are obviously with our good friends
Speaker 7: out there in Los Angeles, So you guys stay safe.
Speaker 2: Jeffrey, we had a really really strong nonfoum payrolls a
Speaker 2: number here today.
Speaker 3: What were your takeaways.
Speaker 7: I mean, I think it's marvelous. I mean, all things considered.
Speaker 7: You know, I'm usually very up beat. It's kind of
Speaker 7: hard to be upbeat, you know, here in LA on
Speaker 7: a day like this, but you know, the job's data
Speaker 7: is excellent.
Speaker 5: You know. I guess a few myths that have been debunked.
Speaker 7: One was that, you know, Paul high rates, we're going
Speaker 7: to derail the economy.
Speaker 5: It just really hasn't happened.
Speaker 7: Average payroll growth in twenty twenty four, I guess when
Speaker 7: all things are said and done, looks like it'll be
Speaker 7: around one hundred and eighty six thousand monthly average pace,
Speaker 7: which is a little bit slower than twenty twenty three,
Speaker 7: but excellent job growth. It's keeping that unemployment rate just
Speaker 7: above four percent for the last seven months, really, which
Speaker 7: is really remarkable the stability we're seeing there. So I
Speaker 7: think this is a great jobs report all things considered.
Speaker 7: If inflation continues to moderate, this is really the soft
Speaker 7: landing that we had been hoping for, and definitely the
Speaker 7: FED has been hoping for it. So it's all around
Speaker 7: great news actually on all fronts for me.
Speaker 6: So, Jeffrey, this was obviously good news and when we
Speaker 6: think about the strength of the US economy, But of
Speaker 6: course there are some speculations about how this could affect
Speaker 6: the Fed's rate cut trajectory. Of course, you mentioned that
Speaker 6: there is still scope for rate cuts in twenty twenty five,
Speaker 6: but when what's the timeline being in your view.
Speaker 7: I think the most important message for investors is that
Speaker 7: the FED is not trying to slow the economy or
Speaker 7: soften the labor market. I think the very content with
Speaker 7: where things are. As far as the labor market being
Speaker 7: a threat to the inflation outlook, I think those risks
Speaker 7: have diminished. So average hourly earnings back below four percent,
Speaker 7: So we're not in that situation where we were two
Speaker 7: years ago where people were worried about a wage price
Speaker 7: sort of spiral. So I don't think the Fed needs
Speaker 7: to try to slow the labor market. They would like
Speaker 7: to stick the landing, they would like to get a
Speaker 7: soft landing, but I think they can be patient from here.
Speaker 7: I think for us that means waiting to see if
Speaker 7: inflation continues to moderate. We got a very favorable core
Speaker 7: PCEE reading for November, just you know, just before the
Speaker 7: end of the year. So if we get more readings
Speaker 7: like that to start twenty twenty five, I think that
Speaker 7: could be very good news. So I think they could wait,
Speaker 7: be patient. No urgency to cut rates, but we do
Speaker 7: think they will cut rates over the course of the year.
Speaker 7: Right now, we're still penciled in at one cut per quarter,
Speaker 7: so about one hundred basis points, but that's really driven
Speaker 7: by inflation getting back to two percent at some point.
Speaker 2: Yeah, and it looks like, you know, I'm just looking
Speaker 2: at the University of Michigan data and they have obviously
Speaker 2: some one year inflation outlook five to ten year inflation
Speaker 2: out looks. Both of those ticked up to about three
Speaker 2: point three percent, you know, much higher, well, I guess,
Speaker 2: noticeably higher than worth they were last month, and higher
Speaker 2: than maybe the consensus forecast there.
Speaker 3: What do you think that data reflects.
Speaker 5: I think that reflects sentiment, Paul. I mean, you do.
Speaker 7: Every client that I talk to, colleagues and friends and
Speaker 7: family members, they're definitely worried that inflation will pick back up,
Speaker 7: whether you know that's something they're seeing in their day
Speaker 7: to day or it's just the fear maybe some economic
Speaker 7: policy policy shifts that are going to be enacted here
Speaker 7: that will push inflation back up. That's definitely power fear
Speaker 7: that you hear express. So maybe that's been showing up
Speaker 7: in sentiment indicators. Looking at the end, you know, the
Speaker 7: actual data though for core PCE, we're pretty pretty optimistic, Paul.
Speaker 5: We had that.
Speaker 7: Point one percent month to month reading for November, and
Speaker 7: you know, when we run the numbers, it's possible core
Speaker 7: PC gets to two percent year on year by sometime
Speaker 7: in the third quarter of this year. Of twenty twenty five,
Speaker 7: which will be which will be fantastic news for everyone,
Speaker 7: for consumers especially, So I think that's maybe sentiment driving
Speaker 7: things more than actual inflation data that we're seeing.
Speaker 6: Jeffrey quickly, what was the driving force behind the pickup
Speaker 6: in the December payrolls numbers?
Speaker 7: Well, I mean, I think, you know, across the board,
Speaker 7: the surprise here is probably the government payrolls that being
Speaker 7: in there, leisure and hospitality. I think overall, just everyone's
Speaker 7: expecting that the higher interest rates we're going to lead
Speaker 7: to a cool down, a bit more notable slowdown, and
Speaker 7: we really, we really haven't seen that. The The three
Speaker 7: month moving average was one hundred and seventy k so
Speaker 7: even if you exclude the December reading, you still see
Speaker 7: pretty solid three month average.
Speaker 5: So just a lot more.
Speaker 7: Resilience overall in the pace of payrolls the last few months,
Speaker 7: and many people had expected.
Speaker 3: Hie.
Speaker 2: Jeffrey, thank you so much for We appreciate it. Jeffrey Cleveland,
Speaker 2: chief economist, paid in Narrigo. He is based in Los Angeles,
Speaker 2: so we wish him and all our good friends in
Speaker 2: Los Angeles god speed here as they deal with this
Speaker 2: these fires.
Speaker 1: Here you're listening to the Bloomberg Intelligence podcast. Catch us
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Speaker 3: The economic data point of the day, of course, was the.
Speaker 2: Labor data payroll number coming out change non farm payroll
Speaker 2: came out in two hundred and fifty six thousand, and
Speaker 2: consentsus was one hundred and sixty five thousand, So a
Speaker 2: big beat in terms of the labor marketing receiving movement
Speaker 2: in the financial markets.
Speaker 3: Old of that, let's break that number down a little bit.
Speaker 2: We can do that with Kate Dushane, CEO of RGP. Kate,
Speaker 2: thanks so much for joining us here. Again, a big print,
Speaker 2: big beat on that headline print.
Speaker 3: What did you take away?
Speaker 5: Well?
Speaker 8: I think that tells us that the labor market continues
Speaker 8: to be very strong. I think that's a good indication,
Speaker 8: although it will put a pause probably on interest rate cuts,
Speaker 8: but it does tell us that the market is stronger
Speaker 8: than we've all believed.
Speaker 6: How are you thinking about it? In the mix of
Speaker 6: the outlook for how the FAG can be viewing rake
Speaker 6: cuts in twenty twenty five.
Speaker 8: Well, I think it probably portends a pause in January
Speaker 8: and we'll see where we go. What we need to
Speaker 8: see is more movement in the labor market, not just
Speaker 8: new jobs, but movement that really tells us that projects
Speaker 8: are starting to have up and so many companies are
Speaker 8: facing technological change and disruption, and we need to see
Speaker 8: more transactional work come back into the marketplace, and that
Speaker 8: then will signal that really post election, the economic market
Speaker 8: is improving.
Speaker 2: Kate, how about on the wage front here, we had
Speaker 2: average hourly earnings on a year of a year basis
Speaker 2: came in a positive three point nine percent, just a
Speaker 2: smidge below the four percent consensus.
Speaker 3: What's the wage market look like.
Speaker 8: Well, I think it's been strong, but it's i'd say
Speaker 8: cooling slightly. This is an interesting time of year because
Speaker 8: the quits rate is down, but that's to be expected
Speaker 8: given that so many companies are year end and they
Speaker 8: are paying bonuses in the first quarter of the new
Speaker 8: calendar year, so people tend to stay put a little
Speaker 8: bit to get their bonuses and then start moving around.
Speaker 8: We are cautiously optimistic that we're going to start seeing
Speaker 8: more talent movement. It's been pretty stagnant the last twelve
Speaker 8: months as people have gotten more conservative in their thinking,
Speaker 8: both clients spending money and talent moving. But we're cautiously
Speaker 8: optimistic that that's opening up in the new calendar year
Speaker 8: post election, when economic activity may pick up with deregulation,
Speaker 8: tax cuts, etc.
Speaker 6: What were the main drivers behind this big blowout report?
Speaker 6: We saw a big beat this morning. What was driving that?
Speaker 8: Yeah, mostly it was in retail, hospitality, healthcare, and government.
Speaker 8: So you know, you have to look at where the
Speaker 8: activity is strongest, and it's not absolutely across the board.
Speaker 8: I think manufacturing was down as a matter of fact,
Speaker 8: So you know, when you look at a report like this,
Speaker 8: you've got to dig into the detail to say how
Speaker 8: does it impact particular segments of business.
Speaker 2: We had news this week that's really important too, Global
Speaker 2: Wall Street JP Morgan announced they want everybody back in
Speaker 2: the office five days a week, and that follows on
Speaker 2: some other big tech companies like Amazon making similar announcements.
Speaker 2: Are we going to see some change here? I kind
Speaker 2: of felt like the status quo was a hybrid thing,
Speaker 2: but it still seems like some big companies want to
Speaker 2: get their people back full.
Speaker 8: Time, right, So we work with some of the best
Speaker 8: brands in the world. We work with eighty eight percent
Speaker 8: of the Fortune five hundred, so we have a good
Speaker 8: pulse of what's happening in the workplace. And I would
Speaker 8: say absolutely the dominant trend is still a hybrid environment.
Speaker 8: So many highly skilled employees say they will not go
Speaker 8: back full time. So I think that while certain companies
Speaker 8: are laying down these mandates very hard to enforce them,
Speaker 8: very hard to keep high potentials who don't want to
Speaker 8: work that way anymore. So clearly what we see across
Speaker 8: the board in our client base is a hybrid approach
Speaker 8: two to three days a week in the office for collaboration,
Speaker 8: learning together, and some flexibility, which is what high performing
Speaker 8: talent wants.
Speaker 3: All right, Kate, thank you so much. We appreciate that.
Speaker 2: Kate to Shane, CEO of our GP, I don't know.
Speaker 2: I kind of feel like we're seeing a little bit
Speaker 2: of a move and a pendulum back to more.
Speaker 3: In office versus less definitely in office.
Speaker 2: I don't know, but I mean, Kate again, she talks
Speaker 2: to all these Fortune five hundred companies. I think a
Speaker 2: lot of people I can still push back on that.
Speaker 2: We have to see that plays out.
Speaker 1: You're listening to the Bloomberg Intelligence Podcast. Catch us live
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Speaker 2: All right, normal, Linda, and for Alex Steel here today,
Speaker 2: I'm Paul Sweeting. We're live on our Bloomberg Interactive Broker studio.
Speaker 2: We're streaming live on YouTube as well. Of course, the
Speaker 2: big news story of the week have been the terrible
Speaker 2: fires in Los Angeles and we've been trying to get
Speaker 2: some different angles on that all week. Will Wade joins
Speaker 2: this energy and climate reporter for Bloomberg News. Well, thanks
Speaker 2: so much. I appreciate getting some time here. We want
Speaker 2: to talk to you about the Constellation deal as well
Speaker 2: in the energy space.
Speaker 3: But first, anything to add on these LA fires.
Speaker 9: I mean, the fires are just tragic, They're huge. We
Speaker 9: see that Cawfires just ranked the Palisades fire as the
Speaker 9: third most damaging in state history. To Eton one is
Speaker 9: right behind it is the fourth, and of course the
Speaker 9: worst was the twenty eighteen campfire that destroyed the entire
Speaker 9: city of Palisades. But these things are still burning, and
Speaker 9: you know, there's still one hundred and fifty thousand people
Speaker 9: that are under evacuation order, including some of my family.
Speaker 3: Talk to us about that. Do you have some of
Speaker 3: your family in that part of the world.
Speaker 10: Sure.
Speaker 9: My aunt lives in North Pasadena. She was evacuated on Tuesday.
Speaker 9: She's doing fine, she's rattled, but I've been tracking the
Speaker 9: progress of the fire. It's kind of getting closer to
Speaker 9: her house. I really hope it does fine. It's actually
Speaker 9: a really nice house. Use it onto the Apple TV
Speaker 9: show Shrinking. Yeah, it's a really nice place. And then
Speaker 9: I heard from my mom yesterday. She said, Hey, remember
Speaker 9: that restaurant I took you to brunch last summer.
Speaker 11: When you were visiting. Yeah, it burned down. That was
Speaker 11: up on North Lake Street. So it feels very personal
Speaker 11: to me.
Speaker 3: Yep, more and more stories coming out.
Speaker 11: Yeah.
Speaker 6: I mean, when you think about a lot of these stories,
Speaker 6: some people didn't even have the opportunity to go back
Speaker 6: to their homes to grab items, especially as the evacuations
Speaker 6: have been in place. Have your family member spoken at
Speaker 6: all to that experience or what have you been hearing
Speaker 6: on the ground.
Speaker 9: I know that my mom was telling me that her
Speaker 9: aunt left and my aunt left in such a hurry.
Speaker 9: She left some important medication behind and they were able
Speaker 9: to go back and get that, and neighborhood was able
Speaker 9: to get in.
Speaker 10: But it's unclear when they're going to be able to
Speaker 10: go back.
Speaker 9: They're not very contained right now. Palisades fire is still
Speaker 9: only like eight percent contained, and they eaten one that's
Speaker 9: the one in Pacity is only three percent contained.
Speaker 10: Those are not big numbers.
Speaker 2: Yeah, absolutely, all right, Well, hopefully some good news coming
Speaker 2: out of that part of the world soon. Let's talk
Speaker 2: about in your world of reporting. Their Constellation Energy surged
Speaker 2: after agreed to acquire closely held Calpine Core before sixteen
Speaker 2: point four billion to create the largest fleet of US
Speaker 2: power stations.
Speaker 3: Talk to us about this deal. What's going on here?
Speaker 9: So Constellation already is notable. They have the biggest fleet
Speaker 9: of nuclear power plants, and their shares have gone up
Speaker 9: like more than one hundred percent in the past year
Speaker 9: because like the last year, all we've seen in electricity
Speaker 9: is more and more demand for electricity from data centers
Speaker 9: and artificial intelligence and electric vehicles and people shifting their
Speaker 9: homes to electric heating and gas heating, and basically anyone
Speaker 9: who's got electricity to sell isn't a really strong position.
Speaker 9: So Constellation went out and bought Calpine, which is the
Speaker 9: biggest gas provider. They've got the biggest fleet of gas
Speaker 9: power plants, and so now they're going to have together
Speaker 9: the biggest power plant fleet.
Speaker 11: In the entire United States. It's going to be enormous.
Speaker 9: And it comes to time when power demand is just
Speaker 9: going up in ways that we haven't seen in decades,
Speaker 9: and the utilities weren't really ready for this that we
Speaker 9: didn't see the AI boom coming a year ago. And
Speaker 9: so now if you have a power plant, you're in
Speaker 9: a great place, and it takes years to build moolence.
Speaker 6: Is this transaction setting the tone for iminate activity in
Speaker 6: the energy space? More broadly, what's the outlook for the
Speaker 6: return of more deals in twenty twenty five.
Speaker 9: We could see more. I'm hearing a lot of people
Speaker 9: talking about interest in energy transactions. And it used to
Speaker 9: be one of the sleepiest corners of the of the
Speaker 9: M and A space. People thought, you know, power plants
Speaker 9: were just like super boring assets.
Speaker 10: They just make power and sell power.
Speaker 9: And utilities have reliable dividends that your grandmothers always love.
Speaker 9: But the share prices for so many of these companies
Speaker 9: have just surged in the past year. So I mean
Speaker 9: it's given them money to go shopping.
Speaker 2: Well, let's step back in your space, just the greater
Speaker 2: energy space here.
Speaker 3: Where does nuclear fit in here?
Speaker 2: We've had some entrepreneurs come in here and say, hey,
Speaker 2: we've got some new technology. You tiny little nuclear plan,
Speaker 2: I'll put it next to a big, you know, data center,
Speaker 2: and we're all, it's a good way, it's a good option.
Speaker 3: It talk to us about that type of stuff.
Speaker 9: Okay, So on paper, that sounds like the perfect combination.
Speaker 9: These small modular reactors can go next to the data centers.
Speaker 9: The reactors run around the clock, the data centers run
Speaker 9: around the clock.
Speaker 10: It makes a lot of sense.
Speaker 9: The thing to keep in mind is the time frame,
Speaker 9: because we're not going to see any of these.
Speaker 10: New reactors for years, maybe.
Speaker 9: A couple by the end of the decade, most likely
Speaker 9: a twenty thirties thing. But these are just very very
Speaker 9: very slow moving projects. And the data center companies they
Speaker 9: want as much power as they can get, like yesterday,
Speaker 9: they need it now.
Speaker 3: Yep. All right, So maybe we're going to see a
Speaker 3: lot of gas.
Speaker 2: Yes, yeah, I think you're right, and I think we've
Speaker 2: got some of that in this country.
Speaker 5: Will wait.
Speaker 3: Thanks so much for joining us. We'll wait.
Speaker 2: Energy and Climate reporter for Bloomberg News joining us via
Speaker 2: zoom And we appreciate getting sharing some of his family
Speaker 2: experiences that some of his family members are having out
Speaker 2: there in Los Angeles as those folks continue to deal
Speaker 2: with a very very difficult situation. And we heard from
Speaker 2: Rob Carolin Bloomberg Meteorologists earlier in the hour a couple
Speaker 2: of days here of some reduced wins maybe throughout the weekend,
Speaker 2: and that's a would be a big help. But then unfortunately,
Speaker 2: the forecast calls for those winds to pick up next week,
Speaker 2: so maybe the firefighters can get a better handle on
Speaker 2: some of these fires over the next several days.
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