in an exclusive interview with the chairman and ceo david solomon. stay tuned for that. you're watching "squawk box. take a look there live at the nasdaq market in times square. we're back after this. xfinity rewards are our way of thanking you just for being with us. enjoy rewards like sing family fun nights! rent sing for $1, then belt out all your favorite tunes from the movie with sing karaoke. plus, see sing 2 in theaters with buy-one-get-one free fandango tickets. join over a million members by signing up for free on the xfinity app. our thanks. your rewards. >>> tesla is replacing cameras in the front fenders of some of the models s, x, and three vehicles internal communications said the cameras have faulty circuit boards and could fail before they need an upgrade or replacement. the cameras enable auto pilot and smart summit they also provide drivers with visibility into what's happening around the car's blind spots when the cameras aren't working, drivers see a black box or choppy video feed. tesla is replacing the cameras at its own expense but it has not issue

ceo david solomon and his deputies are looking for ways to increase their own pay packets. we are joined by tom metcalf. sympathy to the senior bankers, but what incentives are they whipping up for top management? tom: they are taking a special purpose acquisition company, and leadership is pushing for them to get a cut of the profit that the spac might make. they are really looking to juice their salaries and a number of ways. tom: how is it likely to sit with junior bankers? is this deserved? tom m.: that dynamic will be fascinating to follow. be the junior bankers will see the ceos getting paid $30 million but it may be it helps the junior bankers, they can look at the top ranks and see that they can get paid well if they stick it out. dani: shareholders might react to this, would they be ok with the idea that executives are getting higher pay? tom m.: goldman's share price is up. they have record revenues, record profits. what is interesting is the various ways they are pushing for this, and they are being aggressive. tom: what is your sense of how concerned they are ab

but jamie dimon and david solomon have been front and center in wanting to lead this return to office. goldman sachs brought all employees back to the office in june. jp morgan followed shortly thereafter in july. compare these firms to the stalwarts of tech like apple, google and facebook, they have not had a return to office. they are thinking about 2022 february lunch, and even those dates are set back because they are wrestling with the threat that the pandemic will delay every plan they set. emily: even lyft is pushing back a return to work to 2023. thank you for that update. as we mentioned, apple is one of the tech companies making a u-turn on its return to office plan. mark gurman joins us with more. apple yet another company saying we can't give you a date just yet. what is apple telling its employees just yet and what are they doing in stores? reporter: this is the fifth delay for apple return to work plants. originally it would be june. that turned into september. that turned into october. that turned into january. that turned into early february. now it is a date not yet d

earlier goldman sachs ceo david solomon says the stock rally shows easing concerns about the omicron variant. >> the market certainly and this morning is another indication is kind of looking past the variant to something that will be slowing down economic activity but we're still not completely out of the pandemic. there is uncertainty that comes from that. and that uncertainty will affect economic activity. >> u.s. trade deficit dropping to a six month low in october a month after hitting an all-time high exports surged 8% giving some hope that supply chain issues are easing and home price gains are slow next year to half their current rate according to a poll of property analysts. however they also predict housing prices will continue to outstrip wage growth so affordability of homes will continue to worsen over the next two to three years that is the very latest. >>> and we need to mention another software name that is getting hit hard, gitlab despite a beat on the top and bottom lines. it was swept up in a larger selloff down 39 port st. lucie t 39% the last month and here is th

, hard-nosed individual, look no farther than solomon. >> solomon doesn't have david's charisma. that is one thing that is very, very clear from all of the accounts. he doesn't have the same ability to make everybody follow him through sheer force of personality. so you see political shrewdness, but unfortunately not a lot of personal integrity in solomon. >> king solomon was a very spoiled kid who grew up in the court of power and wealth, who was so consumed with his aura as king that he essentially tried to exploit it to his advantage. >> and he has to somehow make sure that he holds on to power. instead of doing what david would have done and making people love him, he does what any other ancient near eastern dictator would do, and he carries out a palace purge. >> he kills all the princes, all the brothers, all the guards, all the courtiers who served other people, and he brings in his own people. a bit like an american president arriving in office except with murder added. solomon's ruthlessness is demonstrated in the bible by the story of the two women who both claimed the

. >> they had david solomon on this morning i wanted to compete. and when you look at what musk is saying is, how can you give 12,500 to the companies that are union? union. there is an inequity there >> it's a policy of this administration to -- as you pointed out, to be supportive. and i understand why mr. musk would feel that they're being unfairly excluded from this. again, they have been the beneficiary of subsidies -- the main one has been key to part of their business for a while -- >> i mentioned earlier the microsoft versus salesforce. >> i know. ford versus tesla is an all-out war and it will be you obviously think farley is going to bring it -- >> i know he's going to bring it farley is not belichick. >> whether there was any subsidies that are offered to gas stations under the eisenhower administration -- when the highway system was getting built. >> there are highway taxes, but i think that musk was very calm, collected. sometimes i missed the old musk. but what he's really saying is, look, let's have a level playing field or let's hav

the number of top seekers notable -- david solomon and -- of the carlyle group. interesting to me that the carlyle group is alongside the biggest banks. more than that, how much can they convince people to come back into their shares after a nearly 2% decline at the end of august. at 10:00 a.m., we are expecting president biden to have that video call with russia. can they prevent a certain amount of conversion from rubles into dollars? that is interesting given gas prices and negotiations went on there. the u.s. treasury auctioning off . yields have risen to the highest level since march 2020. three year yields more confusing. that increasingly is the question. jonathan: the front end of the yield curve is interesting. we just got back to that. this big discussion of monetary policy. if not broken above 65 basis points. here we are doing just that. tom: what is so critical is the compare and contrast of yield dynamics with what we see in the equity hope linked to central banks across the atlantic. critically, the swiss 20 year has not moved like the u.s. to year

we heard david solomon say it's going to be fed concerns, monetary policy and fiscal concerns that kind of outweigh everything else in the market with regard to covid >> i think you're spot on correct with that. it's not really about covid right now. the selloff that we had seen, the 5% draw down we had seen was due to a changing in expectations for the fed in terms of their tapering. i think what we have to put this market into an analogy is simply this this is like an airplane taking off. all of last year, coming out of the pandemic was basically full throttle ahead with the fiscal policy, the monetary policy, but now that we've kind of gained altitude in here with the economy we're going to see those sort of engines back off a little bit in here that doesn't mean that the plane is going to lose altitude. you're going to gain altitude and the economy is going to grow you may not have a 5% growth rate, maybe 3.8 but that's still good the market was really resetting expectations for the high multiple growth stocks out there. going forward into 2022, i think there's a lot of opportunity

they are looking to reward ceo david solomon and his deputies, getting a cut of the richest rewards thrown off by goldman's blank check companies. they have also pressured for incentive packages and had some success. that is the latest business flash. alix: thanks so much. i found this story fascinating. we might look at it and say yeah, whatever, they want more money, but an action by letty, these banks are losing a lot of talent, and high-end talents, to go to hedge funds are private equity, where the pay is astronomically different. this is a real competitive scenario. guy: sick about where it started as well. it started with junior bankers, and then spread elsewhere, and what we saw with the lower ranks getting a piece of the pie, i think it was only inevitable that we would see the senior ranks making the same point. but i think your point about buy side and sell side are well-founded, and i think if you work for the sell side, maybe you're looking at the buy side and saying i want a piece of that pie. alix: especially when your pay is disclosed and you're going to get heat from washi

and moved on to goldman sachs is, which brings me to gold zahn max' -- goldman sachs' david solomon. they have a new policy starting in february that if you want to work in the office -- and, yes, they want you to work in the office, and so do all the shops around the office. but they're saying you can only come in in person you are fully vaccinated with the booster shot, and they're going to test you twice a week regardless. >> yeah. it's interesting, goldman sachs, obviously, has been the leader in bringing people back to work. as you mentioned earlier, this week they announced anyone in the new york office is going to have to be boosted, so that's kind of recentered the conversation around what safety protocols need to be in place. practically speaking, it's going to be interesting to see how they implement this new policy, right? you're not supposed to get the booster 90 days after you've had covid, and only omicron's been sweeping through new york, so it's unclear whether everyone will be able to be boosted by that february 1st deadline. i think this underscores the fact that th

i was reminding myself what david solomon, goldman sachs' chief executive said a few months ago, that working from home is an aberration. james dimon doesn't work for the spontaneous idea generation and for those people who want to hustle. diametrically opposed views about this, haven't we?— hustle. diametrically opposed views about this, haven't we? well, we do. there is irony — about this, haven't we? well, we do. there is irony in _ about this, haven't we? well, we do. there is irony in that _ about this, haven't we? well, we do. there is irony in that the _ about this, haven't we? well, we do. there is irony in that the banks, - there is irony in that the banks, let's take the banks, many of them had record results precisely when their staff were working from home, right? we do have to take some of those pronouncements with a grain of salt. we have seen the more enlightened bosses many from large companies have actually backed off from making pronouncements. they have moved "you are all going back to the office early january" and backed off from making those statements. they a

claw back $174 million in executive bonuses tied to the 1 mbd six scandal, like lloyd blankfein and david solomon returned their share but gary cohen refused, donating it to charity, one example of how difficult these can be mcdonald's putting an end to this saga with easterbrook. >> major news for mcdonald's and major news in terms of a turning of the tide on some of these claw backs for companies and ceos and former ceos thank you. as we head to break, watch shares of fedex, which are up about 1% right now reporting after the close today. on tap, costs as supply chain and labor issues have pinched this year and peak season and an update as the delivery giant forecasted a 10% cease in holiday package volumes. i will be speaking exclusively with fedex president and coo n 'l.meaerho. stn ur wel be right back. m® by td amere is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. th

even -- despite the fact that jamie dimon at jpmorgan, james gorman at morgan stanley, david solomon at goldman sachs are saying we want you back in the office, you would think the city would be -- commercial office space would be filled right now. it's not. from what i understand, it's up to at this point right now, it's still up to 80% vacant, okay? now, if you look outside, looks pretty crowded, but apparently in the offices it's not. neil: reinstating some of these pretty tough rents, right? it depends where. >> well, it depends where. and on the commercial, the commercial problem is a little different than the residential. neil: understood. i was talking commercial. you're saying finish. >> by the way, here's the problem that eric adams has, without people fully back to the office, the service sector in new york suffers dramatically. tax revenues go down, and he knows, so he is redoubling efforts to try to get people back. he's running into the various variants of covid -- neil: i think crime. he gets that under control -- in a's the last thing i'm going to say. the second thing

solomon on the markets, the fed, the omicron variant, and much more stay tuned yore wchu'ating "squawk box," and this is cnbc >>> welcome back to "squawk box" on cnbc. take another look now, though, at the price of bitcoin. we're seeing about $48,428, but we also want to show you another chart. this is of microstrategy this is much lower you may remember it's invested significantly in bitcoin i don't know, guys, did they leverage as well i feel like that was a bit of a leverage play. >> i don't know the answer to that i know that interview got a lot of attention that guy is truly an evangelist. at the end, it's like the entire company, like 95% of the market cap? >> it is a bit of a leverage play they have raised some -- that's what it is >> you would imagine that's where i got the term gigastacker. he's probably gigastacking today. we find out at the end of the quarter just how much. >>> there's breaking news from mayor de blasio. the city is putting in place a vaccine mandate for private city employers. the city is also expanding the vaccine man dade for indoor dining, fitness and en

>> david solomon says new york has to be aware there are good choices and it is super attractive at the end of the day. incentives matter, taxes matter, cost-of-living matters. the pandemic shifted everything. where companies are headquartered, where their employees were and the message goldman is sending to wall street, don't take your status as financial hub of the world for granted because times are shifting and people care about the cost and goldman in west palm beach, they are not alone. elliott management, carl icahn, blackstone, i could keep going. we've seen this the past year and a half. dave: no taxes and sunny weather. and freedom. i like freedom. twitter just changed their privacy rules, you can no longer post pictures of people without their permission. is this censorship overreach? republican lawmakers are threatening to shutdown the government to deny the funding needed to enforce president biden's vaccine mandate. senator mike braun is part of the group next. ♪♪ we are not going to take it anymore ♪♪ we are not going to take it ♪♪ know ♪♪ we are not going

paul: that would -- was david solomon at the new week economy form in singapore. it just struck me, that was a different time and place. people were having big conferences. davos is postponed. romaine: we had the news yesterday about some of the measures goldman and the banks are placing on their employees if they come back. we'll have more coming up. this is bloomberg. ♪ romaine: we welcome back our audiences across all of our -- all of our audiences. i know your kids probably enjoy the dodge ram you at them for christmas. is everybody spending like that? paul: it seems like the consumer is in good shape. the good thing but the question is how long is it going to last. romaine: i guess the bigger question is where is it being spent. at some point does the consumer get tapped out? paul: when the stimulus checks run dry and the savings come down, then what happens. we note but he who does this for a living. we are joined by stacey widlitz from sw retail advisors . how would you categorize how we are experiencing 2021? stacey: the numbers are incredibly strong, up

solomon grundy. beets and eggs. >> anthony: look at that. [ david speaking french ] >> anthony: unbelievable. look at the aspic work. >> fred: this is smoked eel and potatoes inside. [ man speaking french ] salmon pastrami. >> anthony: and wait a minute. this is super classic. >> david: oeuf en gelee. >> anthony: and this, oeuf en gelee. egg in aspic. soft boiled or poached egg in clear gelatin-set broth, classically garnished with white ham, tarragon leaves, black truffles. oh, my god. i was pretty sure that i would live the rest of my life without ever seeing this again. delicious. but tonight, after a full week of franco-canadian full-on assaults on our livers and our lights, fred and dave thought it would be both delicious and merciful to take advantage of the somewhat lighter and insanely delicious fare by their brilliant chef, omar, who is from pakistan. amazing, authentic pakistani food. so what do we have here? >> fred: butter chicken crab. octopus tikka. little eggplants braised with, uh, an

i have the most appreciation for solomon and david, william, patrick for their dedication during this pandemic. i appreciate you so much. and this award should be hung high because you all deserve it thank you so much. >> clerk: thank you, let's give everyone a round of applause. thank you, daisy. next up is commissioner bernal. >> president bernal: yes, thank you so much, and i'll provide this recognition on behalf of myself and commissioners cecilia chung. thank you so much to dr. susan buckbinder for nominating bridge h.i.v. within the population health division at d.p.h., in addition to continuing to conduct from her groundbreaking h.i.v. prevention research as part of the local and global efforts during the covid pandemic on h.i.v. vaccines, pre-exposure, and other strategies to prevent h.i.v. infections, the bridge h.i.v. team took on recruiting, enrolling and retaining 256 study volunteers into a covid vaccine trial, the largest group enrolled in the bay area. of these, 81% were people of color. this hard work to ensure adequate representation of underrepresented groups is a te

i hadn't seen that story but you should ask dave solomon. i'm interested to hear what david has to say even though we are not related i think, listen, wall street is creative what we do is merit based and really a lot has to do with citizenship and culture and leadership and a bunch of other things in the discretionary pools and listen we are rewarding people for performance and defined in a number of ways if they get creative that's their progerogative. we look at teams and going through that now and so i can't speak specifically to a new structure that might be showing up at goldman sachs. i really don't know about it. >> jeff wants to be paid in crypto this year right? only bitcoin for you. >> under get in line with other people paid in crypto this year. >> jeff, thank you great to see you. >> good to see you, too. >>> marvell technology earnings results are out. >> another record quarter for the company. soars up over 11% at the moment. came in at 43 cents, higher than the street anticipating. on revenue at $1.21 billion. the company als

david is sub50,000, and what i found really interesting in terms of trendlines this is the first time suns june that bitcoin not traded with the s&p 500. there is usually a tight correlation over the past six months or so. bitcoin is down 5% this month but the s&p 500 is up 10%. i don't know what that tells us there is more adoption, more mainstream buying of cryptocurrencies. it is not going away. david: i probably get more questions about cryptocurrencies than any other question about the economy or anything else. everybody wants to know about cryptos. >> every day. david: susan, appreciate it. meanwhile look how many americans are spending the last week of 2021, waiting hours in long lines for covid tests. covid testing company prophase is beefing up its staff in order to handle the influx of covid testing in new york city and elsewhere. the ceo joins me now. ted, good to see you. thanks for being here. how is prophase affecting the long lines? >> thanks, david, for having me on your show today. historically we spoiled our customers. we turned around results if anywhere from six to