cnbc--2020-04-03--Trump compelled these companies to make critical supplies, but most of them were already doing it

President Donald Trump , after much reluctance , has used the powers of the Defense Production Act to compel companies to manufacture items in short supply that would aid in the U.S. response to the deadly coronavirus .
The White House has asked companies to ramp up production of protective gear needed by health professionals on the front lines of the crisis as hospitals , stores and testing centers warn they 're experiencing shortages in medical masks , ventilators , gloves , testing swabs and other essential equipment .
Trump said he would invoke the Defense Production Act after mounting @ @ @ @ @ @ @ the president a letter earlier in March urging him to use its powers .
But he put off invoking it , saying in a March 18 tweet that he would only use it `` in a worst case scenario . ''
Meanwhile , U.S. governors had been begging the White House to use the law to send their states much-needed ventilators .
New York Gov .
Andrew Cuomo has said his state , which has the highest number of confirmed cases in the country , needs 30,000 ventilators to save lives .
The @ @ @ @ @ @ @ supply production were compelled to do so on Thursday , more than two weeks after Trump signed the executive order triggering the Korean War-era law .
In a statement , the president said his order would `` more fully ensure that domestic manufacturers can produce ventilators needed to save American lives . ''
`` My order to the Secretary of Health and Human Services and the Secretary of Homeland Security will help domestic manufacturers like General Electric , Hill-Rom , Medtronic , ResMed , Royal Philips , and Vyaire Medical secure the supplies @ @ @ @ @ @ @ defeat the virus , '' the statement continued .
Many of them had already ramped up production .
Trump on March 27 ordered auto giant General Motors to make ventilators after criticizing the company for not acting quickly enough to produce the devices .
Prior to Trump 's order , the company had already announced plans to build critical-care ventilators with Ventec Life Systems at the automaker 's component plants in Kokomo , Indiana .
GM in an emailed statement reiterated that employees with Ventec , GM and their supply base `` have @ @ @ @ @ @ @ a week to meet this urgent need . ''
`` Our commitment to build Ventec 's high-quality critical care ventilator , VOCSN , has never wavered , '' GM said .
`` The partnership between Ventec and GM combines global expertise in manufacturing quality and a joint commitment to safety to give medical professionals and patients access to life-saving technology as rapidly as possible .
The entire GM team is proud to support this initiative . ''
The conglomerate was among the six firms Trump included in his Thursday order .
In March @ @ @ @ @ @ @ unit is scrambling to increase production of equipment including ventilators , patient monitors , CTs and mobile X-ray devices to meet increasing demand from hospitals and other facilities fighting the pandemic .
Ford Motor Co. , which faced pressure from Trump to ramp up production in response to the outbreak , and GE Healthcare announced on Monday that the companies would team up to produce 50,000 ventilators at a facility in Michigan .
Trump in a March 27 tweet urged Ford to `` GET GOING ON VENTILATORS , FAST , '' though so @ @ @ @ @ @ @ against that carmaker .
Production of the critical-care devices is expected to begin with 500 United Auto Workers union members the week of April 20 , according to executives at both companies .
Ford 's Rawsonville Components Plant in Ypsilanti , Michigan , will be able to produce 30,000 ventilators a month after early July , officials said .
Ford and GE expect to produce 1,500 by the end of April , 12,000 by the end of May and 50,000 by July 4 , officials said .
`` We are really excited and @ @ @ @ @ @ @ mobilized its manufacturing facilities to address the challenges we all face with COVID-19 , '' Tom Westrick , vice president and chief quality officer of GE Healthcare , said during a call Monday afternoon with media .
Hill-Rom , a company that manufactures health-care equipment such as hospital beds and medical technology , was also included in Trump 's order Thursday .
The company , headquartered in Indiana , had already released a statement on March 24 committing to the fight , saying it would ramp up production of non-invasive ventilators and hospital @ @ @ @ @ @ @ scaling production as rapidly as we can to meet the challenges the world is facing with COVID-19 , '' said Hill-Rom President and CEO John Groetelaars in the release .
`` Hillrom 's critical care , vitals monitoring and respiratory products can help caregivers and patients as coronavirus continues to cause severe illness around the world .
We are focused on our employees ' health and safety , and on ensuring that our products are available when and where our customers and patients need them . ''
Health-care and biomedical engineering company Medtronic @ @ @ @ @ @ @ on Thursday , promised on March 27 that `` everything that could be done and should be done is being done . ''
Executive Vice President and President Bob White said in a series of videos posted on the site that the company has `` ramped our ventilator capacity ... up by 40 % already . ''
`` We have our teams already up and running both in manufacturing and supply chain , as well these external collaborations , '' he said .
`` So I would say the mobilization is full-on , @ @ @ @ @ @ @ White cautioned that it 's going to take time for the company to ramp up production .
`` It will take a few months for us to even further dramatically increase the production of our ventilators , but we 're on that and we 're working on it very aggressively , '' he said .
The medical technology company was also included in Trump 's directive Thursday .
ResMed specializes in the production of ventilators and has 7,500 workers in 140 countries to combat the growing pandemic , according to CEO Michael Farrell @ @ @ @ @ @ @ or triple production to fight the coronavirus globally , Farrell said Wednesday in an interview on CNBC 's `` Mad Money . ''
In the United States , ResMed is particularly focusing on ramping up production in New York , California , Washington and Michigan , states that have been hit the hardest by the spread of the disease .
`` We 're going to double , triple or more our noninvasive ventilators , invasive ventilators , and do more than 10 times the volumes of our ventilation masks , '' Farrell said @ @ @ @ @ @ @ patients so we keep them breathing while their own immune systems fight the disease . ''
`` If you break it down to just the ventilators , we made tens of thousands of ventilators last year in 2019 .
We 're gon na do double that and triple that , and we 're going to do it in real time . ''
Health technology company Royal Philips , another of the six companies , said in a March 22 release that it would increase `` the production of certain critical care products and @ @ @ @ @ @ @ with the new coronavirus disease . ''
`` Philips is ramping up the production of hospital ventilators and plans to double production within the next eight weeks and achieve a four-fold increase by the third quarter of 2020 , '' the release said .
`` In line with Philips ' mission to improve people 's lives , we want to help as many healthcare providers as possible to deal with the growing numbers of critical COVID-19 patients , '' said Frans van Houten , CEO of Royal Philips .
`` There is an @ @ @ @ @ @ @ help diagnose and treat patients with COVID-19 . ''
3M , which was separately compelled on Thursday to `` acquire , from any appropriate subsidiary or affiliate of 3M Company , the number of N-95 respirators that the Administrator determines to be appropriate , '' engaged in a public spat with the president , pointing out that some of Trump 's requirements would backfire .
In a statement Friday morning , the company said the Trump administration 's request `` that 3M cease exporting respirators that we currently manufacture in the United States @ @ @ @ @ @ @ '' would have `` significant humanitarian implications '' for health-care workers in those countries , where 3M is a `` critical supplier of respirators . ''
The company also noted that `` ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same , as some have already done . ''
`` If that were to occur , the net number of respirators being made available to the United States would actually decrease , '' 3M added .
The back and forth came @ @ @ @ @ @ @ Trump claimed that the White House `` hit 3M hard today after seeing what they were doing with their Masks . ''
The company said Friday that it was already working with the Trump administration on getting more masks to the U.S. `` We have been working closely with the Administration to do exactly that , and we appreciate the authorities in the DPA that provide a framework for us to expand even further the work we are doing in response to the global pandemic crisis , '' 3M said .
`` We @ @ @ @ @ @ @ implement yesterday 's order . ''
The coronavirus , which is believed to have originated in Wuhan , China , has spread to dozens of countries globally , with more than 1,026,900 confirmed cases worldwide and at least 53,975 deaths so far , according to data from Johns Hopkins University .
There are at least 245,500 cases in the United States and at least 6,058 deaths , according to the latest tallies .
— CNBC 's Michael Wayland , Christina Wilkie , Leslie Josephs and Kevin Breuninger contributed to this report .

U.S. President Donald Trump arrives to addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 3, 2020. Tom Brenner | Reuters
President Donald Trump, after much reluctance, has used the powers of the Defense Production Act to compel companies to manufacture items in short supply that would aid in the U.S. response to the deadly coronavirus. The White House has asked companies to ramp up production of protective gear needed by health professionals on the front lines of the crisis as hospitals, stores and testing centers warn they're experiencing shortages in medical masks, ventilators, gloves, testing swabs and other essential equipment. Trump said he would invoke the Defense Production Act after mounting pressure from Democratic lawmakers, who sent the president a letter earlier in March urging him to use its powers. But he put off invoking it, saying in a March 18 tweet that he would only use it "in a worst case scenario." Meanwhile, U.S. governors had been begging the White House to use the law to send their states much-needed ventilators. New York Gov. Andrew Cuomo has said his state, which has the highest number of confirmed cases in the country, needs 30,000 ventilators to save lives. The bulk of the companies assisting with emergency supply production were compelled to do so on Thursday, more than two weeks after Trump signed the executive order triggering the Korean War-era law. In a statement, the president said his order would "more fully ensure that domestic manufacturers can produce ventilators needed to save American lives." "My order to the Secretary of Health and Human Services and the Secretary of Homeland Security will help domestic manufacturers like General Electric, Hill-Rom, Medtronic, ResMed, Royal Philips, and Vyaire Medical secure the supplies they need to build ventilators needed to defeat the virus," the statement continued. Many of them had already ramped up production.
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Here are the companies Trump has called on so far to manufacture emergency supplies:
General Motors
Trump on March 27 ordered auto giant General Motors to make ventilators after criticizing the company for not acting quickly enough to produce the devices. Prior to Trump's order, the company had already announced plans to build critical-care ventilators with Ventec Life Systems at the automaker's component plants in Kokomo, Indiana. GM in an emailed statement reiterated that employees with Ventec, GM and their supply base "have been working around the clock for over a week to meet this urgent need." "Our commitment to build Ventec's high-quality critical care ventilator, VOCSN, has never wavered," GM said. "The partnership between Ventec and GM combines global expertise in manufacturing quality and a joint commitment to safety to give medical professionals and patients access to life-saving technology as rapidly as possible. The entire GM team is proud to support this initiative."
General Electric
The conglomerate was among the six firms Trump included in his Thursday order. In March, the company announced that its health-care unit is scrambling to increase production of equipment including ventilators, patient monitors, CTs and mobile X-ray devices to meet increasing demand from hospitals and other facilities fighting the pandemic. Ford Motor Co., which faced pressure from Trump to ramp up production in response to the outbreak, and GE Healthcare announced on Monday that the companies would team up to produce 50,000 ventilators at a facility in Michigan. Trump in a March 27 tweet urged Ford to "GET GOING ON VENTILATORS, FAST," though so far he has not invoked the DPA against that carmaker. Tweet Production of the critical-care devices is expected to begin with 500 United Auto Workers union members the week of April 20, according to executives at both companies. Ford's Rawsonville Components Plant in Ypsilanti, Michigan, will be able to produce 30,000 ventilators a month after early July, officials said. Ford and GE expect to produce 1,500 by the end of April, 12,000 by the end of May and 50,000 by July 4, officials said. "We are really excited and applaud Ford, how quickly it's mobilized its manufacturing facilities to address the challenges we all face with COVID-19," Tom Westrick, vice president and chief quality officer of GE Healthcare, said during a call Monday afternoon with media.
Hill-Rom, a company that manufactures health-care equipment such as hospital beds and medical technology, was also included in Trump's order Thursday. The company, headquartered in Indiana, had already released a statement on March 24 committing to the fight, saying it would ramp up production of non-invasive ventilators and hospital beds. "We are committed to scaling production as rapidly as we can to meet the challenges the world is facing with COVID-19," said Hill-Rom President and CEO John Groetelaars in the release. "Hillrom's critical care, vitals monitoring and respiratory products can help caregivers and patients as coronavirus continues to cause severe illness around the world. We are focused on our employees' health and safety, and on ensuring that our products are available when and where our customers and patients need them."
Medtronic
Health-care and biomedical engineering company Medtronic, one of the companies Trump called on Thursday, promised on March 27 that "everything that could be done and should be done is being done." Executive Vice President and President Bob White said in a series of videos posted on the site that the company has "ramped our ventilator capacity ... up by 40% already." "We have our teams already up and running both in manufacturing and supply chain, as well these external collaborations," he said. "So I would say the mobilization is full-on, everybody is engaged." Still, White cautioned that it's going to take time for the company to ramp up production. "It will take a few months for us to even further dramatically increase the production of our ventilators, but we're on that and we're working on it very aggressively," he said.
ResMed
The medical technology company was also included in Trump's directive Thursday. ResMed specializes in the production of ventilators and has 7,500 workers in 140 countries to combat the growing pandemic, according to CEO Michael Farrell. The company is looking to double or triple production to fight the coronavirus globally, Farrell said Wednesday in an interview on CNBC's "Mad Money." In the United States, ResMed is particularly focusing on ramping up production in New York, California, Washington and Michigan, states that have been hit the hardest by the spread of the disease.
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"We're going to double, triple or more our noninvasive ventilators, invasive ventilators, and do more than 10 times the volumes of our ventilation masks," Farrell said, "to take care of COVID-19 patients so we keep them breathing while their own immune systems fight the disease." "If you break it down to just the ventilators, we made tens of thousands of ventilators last year in 2019. We're gonna do double that and triple that, and we're going to do it in real time."
Royal Philips
Health technology company Royal Philips, another of the six companies, said in a March 22 release that it would increase "the production of certain critical care products and solutions to help diagnose and treat patients with the new coronavirus disease." "Philips is ramping up the production of hospital ventilators and plans to double production within the next eight weeks and achieve a four-fold increase by the third quarter of 2020," the release said. "In line with Philips' mission to improve people's lives, we want to help as many healthcare providers as possible to deal with the growing numbers of critical COVID-19 patients," said Frans van Houten, CEO of Royal Philips. "There is an unprecedented global demand for medical equipment to help diagnose and treat patients with COVID-19."
Vyaire Medical
Trump also compelled Vyaire Medical, a company that produces ventilators, face masks, oxygen blenders, resuscitation devices and other respiratory medical equipment, to manufacture products to help in the fight against the coronavirus. Vyaire began "retooling its manufacturing capacity" to respond to the pandemic in January, according to a press release. "The company is redeploying engineering resources and seeking to hire additional workforce to accelerate production of ventilators at key manufacturing facilities," the release said. "In addition, the company is exploring potential partnerships with non-medical equipment manufacturers and distribution companies to increase the availability of life-saving equipment and speed access to areas of the country in most critical need."
3M
3M, which was separately compelled on Thursday to "acquire, from any appropriate subsidiary or affiliate of 3M Company, the number of N-95 respirators that the Administrator determines to be appropriate," engaged in a public spat with the president, pointing out that some of Trump's requirements would backfire. In a statement Friday morning, the company said the Trump administration's request "that 3M cease exporting respirators that we currently manufacture in the United States to the Canadian and Latin American markets" would have "significant humanitarian implications" for health-care workers in those countries, where 3M is a "critical supplier of respirators." The company also noted that "ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done." "If that were to occur, the net number of respirators being made available to the United States would actually decrease," 3M added. The back and forth came after a tweet Thursday night in which Trump claimed that the White House "hit 3M hard today after seeing what they were doing with their Masks." Tweet The company said Friday that it was already working with the Trump administration on getting more masks to the U.S. "We have been working closely with the Administration to do exactly that, and we appreciate the authorities in the DPA that provide a framework for us to expand even further the work we are doing in response to the global pandemic crisis," 3M said. "We look forward to working with FEMA to implement yesterday's order."
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cnbc--2020-04-03--Forced off the campaign trail by coronavirus, House candidates reach more voters than ever

Alyse Galvin used to host her town halls in coffee shops .
Sometimes she hosted them in her garage .
Other times , she says , she would bring out her RV , park it in front of senior centers and libraries , and hold town halls there .
But Galvin , an independent candidate for Congress in Alaska , never reached as many voters as she is now .
Forced by COVID-19 off the physical campaign trail and onto Facebook , she now co-hosts her town halls with doctors and union leaders .
`` I 'm finding more and @ @ @ @ @ @ @ these tools , '' Galvin said .
`` We are connecting people to experts and to each other more than ever . ''
The coronavirus pandemic has changed almost everything about American life .
Businesses are closed , people are home , and , for millions , the economic devastation has been life-altering .
For those running for the House of Representatives , the health crisis posed unique problems .
Campaigning is a handshake , kiss-the-baby business , and so is its lifeblood — fundraising .
You ca n't get out the vote @ @ @ @ @ @ @ But interviews with candidates , strategists and fundraisers in recent days suggest that contenders in both parties are adjusting to the downturn with early signs of success .
There are worries that the money will dry up , but it has n't yet .
Voters , cooped up at home and worried about the future , are tuning in .
`` What we are learning is that people are looking forward to distraction right now , '' said Mike Garcia , a California Republican who is running in a special election for the @ @ @ @ @ @ @ Hill .
`` People are paying attention . ''
In lieu of in-person fundraisers that used to attract up to 100 people , Garcia said he 's now doing `` flash fundraisers '' by teleconference two to three times per day , with 10 to 30 people .
The phone calls last less than an hour and bring in $ 10,000 to $ 40,000 each .
`` It has proven efficient , '' he said .
Candidates are reporting increased engagement across the board , with attendance at virtual events anywhere from double @ @ @ @ @ @ @ physical analogs .
While candidates have hosted online gatherings since long before the coronavirus made it a necessity , the digital events have never occupied such a central position .
`` It 's a chance to engage not just with people who are already with our campaign but also those who may not know what we are fighting for , '' said Democratic Hiral Tipirneni , a House contender in Arizona .
Tipirneni is well-positioned to engage voters concerned about coronavirus .
She is a former emergency room physician with a stethoscope included @ @ @ @ @ @ @ town halls and in individual phone calls with voters , she talks about her position on health care — but she also answers medical questions people have about staying safe amid the crisis .
`` They have questions about vulnerable family members .
They want to know how long is this going to last , '' Tipirneni said .
One voter asked about a pregnant daughter-in-law .
Could they see the baby ?
It 's a similar approach to the one that Galvin has taken in Alaska , though she 's a former @ @ @ @ @ @ @ a physician .
In two days last week , she co-hosted a town hall with a doctor to answer medical questions and another with the president of a union local to provide advice for the recently unemployed .
The first thing to do : File for unemployment .
Some might be left out Despite some of the initial successes of digital campaigning , there are elements of the process that can not be carried out virtually .
And there are fears that many are being left out .
In counties throughout the United @ @ @ @ @ @ @ in the South , more than half of households do n't have access to the internet .
Swati Mylavarapu , who led fundraising efforts for former South Bend Mayor Pete Buttigieg 's presidential campaign , said the virus 's financial impact could also disproportionately harm minority candidates .
`` It is certainly the case that coronavirus is making fundraising for all candidates more difficult than before , '' Mylavarapu said .
`` But we know based on data that it is especially difficult for first-time candidates , for women candidates , and candidates @ @ @ @ @ @ @ strategist who works on House races was also less sanguine about the fundraising picture than were the candidates .
`` The people who gave small dollars are no longer going to be able to , '' said the strategist , who asked not to be named in order to speak candidly .
She said she would be shocked if second-quarter figures were not lower than the first quarter but predicted that Democrats were `` in a much better fundraising position . ''
House Democrats , she said , started campaigning early to establish @ @ @ @ @ @ @ the uncertainty of a historically crowded national Democratic presidential primary field .
`` They were not expecting a global pandemic but they were expecting uncertainty , '' she said .
Democrats are favored to keep a hold on the lower chamber of Congress in November 's elections , but if competitive races swing to the GOP , power could switch hands .
Democrats seized control of the House in 2018 .
Rep. Harley Rouda , one of the Democrats swept into power during those midterms , said despite the big new audiences his @ @ @ @ @ @ @ is missing .
`` I think we are social by nature and we want social interaction in person , '' he said .
`` It 's a big shift .
I think we are all getting adjusted to it . ''
California Republican Garcia said his preference was live events , but that the coronavirus-inspired digital push is likely to leave its mark .
`` I personally like doing things in person , '' he said .
`` I think that 's where people get to see the spirit of the campaign , @ @ @ @ @ @ @ candidate . ''
Some candidates also have more personal reasons they hope the new normal ends as soon as possible .
Like all Americans — and everyone around the world — they have not been able to escape the now-familiar psychological and emotional consequences that social distancing and mitigation steps can inflict .
`` We are leading that same life as everyone else .
I feel it , '' Galvin said .
`` I do n't know what 's going to happen to my elders .
I have a 98-year-old who I ca @ @ @ @ @ @ @ to me . ''
Tiperneni said she has not been able to hug her 83-year-old father .
As a physician , she may be called onto the front lines to help assist those who need care .
`` It would affect my ability to campaign obviously , but it would also be a concern for my health , for my family 's health , for my team 's health , '' she said .
`` I will absolutely do what needs to be done , that is my obligation and my responsibility , @ @ @ @ @ @ @ said , it is not an easy decision .
It is one that comes with a set of worries and concerns . ''
Garcia , a former Navy fighter pilot and executive at Raytheon , put on a tough face , saying : `` The ability to adapt in the face of friction and still do my job and come out victoriously is in my DNA . ''
Rouda , who has been delivering emergency supplies to health-care workers in his district , said he was fortunate to be home with his wife @ @ @ @ @ @ @ heart went out `` to all the families in my district and beyond who are suffering extreme difficulties . ''

Hiral Tipirneni, a Democratic candidate for U.S. Congress in Arizona, hosting a virtual town hall on April 1, 2020. The coronavirus pandemic has forced candidates to rethink traditional campaign events. Source: Hiral Tipirneni
Alyse Galvin used to host her town halls in coffee shops. Sometimes she hosted them in her garage. Other times, she says, she would bring out her RV, park it in front of senior centers and libraries, and hold town halls there. But Galvin, an independent candidate for Congress in Alaska, never reached as many voters as she is now. Forced by COVID-19 off the physical campaign trail and onto Facebook, she now co-hosts her town halls with doctors and union leaders. "I'm finding more and more people are learning how to use these tools," Galvin said. "We are connecting people to experts and to each other more than ever." The coronavirus pandemic has changed almost everything about American life. Businesses are closed, people are home, and, for millions, the economic devastation has been life-altering. For those running for the House of Representatives, the health crisis posed unique problems. Campaigning is a handshake, kiss-the-baby business, and so is its lifeblood — fundraising. You can't get out the vote if you can't get out. But interviews with candidates, strategists and fundraisers in recent days suggest that contenders in both parties are adjusting to the downturn with early signs of success. There are worries that the money will dry up, but it hasn't yet. Voters, cooped up at home and worried about the future, are tuning in. "What we are learning is that people are looking forward to distraction right now," said Mike Garcia, a California Republican who is running in a special election for the House seat vacated by former Rep. Katie Hill. "People are paying attention." In lieu of in-person fundraisers that used to attract up to 100 people, Garcia said he's now doing "flash fundraisers" by teleconference two to three times per day, with 10 to 30 people. The phone calls last less than an hour and bring in $10,000 to $40,000 each. "It has proven efficient," he said.
Mike Garcia hosts a virtual town hall on April 1, 2020. Garcia, a Republican, is running in a special election for the California congressional seat vacated by former Rep. Katie Hill. Source: Mike Garcia
Candidates are reporting increased engagement across the board, with attendance at virtual events anywhere from double to 10 times as high as their physical analogs. While candidates have hosted online gatherings since long before the coronavirus made it a necessity, the digital events have never occupied such a central position. "It's a chance to engage not just with people who are already with our campaign but also those who may not know what we are fighting for," said Democratic Hiral Tipirneni, a House contender in Arizona. Tipirneni is well-positioned to engage voters concerned about coronavirus. She is a former emergency room physician with a stethoscope included her campaign logo. At her virtual town halls and in individual phone calls with voters, she talks about her position on health care — but she also answers medical questions people have about staying safe amid the crisis. "They have questions about vulnerable family members. They want to know how long is this going to last," Tipirneni said. One voter asked about a pregnant daughter-in-law. Could they see the baby? It's a similar approach to the one that Galvin has taken in Alaska, though she's a former teacher and small business owner, not a physician. In two days last week, she co-hosted a town hall with a doctor to answer medical questions and another with the president of a union local to provide advice for the recently unemployed. The first thing to do: File for unemployment.
Some might be left out
Despite some of the initial successes of digital campaigning, there are elements of the process that can not be carried out virtually. And there are fears that many are being left out. In counties throughout the United States, and particularly in Alaska and in the South, more than half of households don't have access to the internet. Swati Mylavarapu, who led fundraising efforts for former South Bend Mayor Pete Buttigieg's presidential campaign, said the virus's financial impact could also disproportionately harm minority candidates. "It is certainly the case that coronavirus is making fundraising for all candidates more difficult than before," Mylavarapu said. "But we know based on data that it is especially difficult for first-time candidates, for women candidates, and candidates of color." One senior Democratic strategist who works on House races was also less sanguine about the fundraising picture than were the candidates. "The people who gave small dollars are no longer going to be able to," said the strategist, who asked not to be named in order to speak candidly. She said she would be shocked if second-quarter figures were not lower than the first quarter but predicted that Democrats were "in a much better fundraising position." House Democrats, she said, started campaigning early to establish "local brands" that could withstand the uncertainty of a historically crowded national Democratic presidential primary field. "They were not expecting a global pandemic but they were expecting uncertainty," she said. Democrats are favored to keep a hold on the lower chamber of Congress in November's elections, but if competitive races swing to the GOP, power could switch hands. Democrats seized control of the House in 2018.
There's something missing
Rep. Harley Rouda, one of the Democrats swept into power during those midterms, said despite the big new audiences his California reelection campaign is seeing, something is missing. "I think we are social by nature and we want social interaction in person," he said. "It's a big shift. I think we are all getting adjusted to it." California Republican Garcia said his preference was live events, but that the coronavirus-inspired digital push is likely to leave its mark. "I personally like doing things in person," he said. "I think that's where people get to see the spirit of the campaign, and they hear the message from the candidate." Some candidates also have more personal reasons they hope the new normal ends as soon as possible. Like all Americans — and everyone around the world — they have not been able to escape the now-familiar psychological and emotional consequences that social distancing and mitigation steps can inflict.
I personally like doing things in person. I think that's where people get to see the spirit of the campaign, and they hear the message from the candidate. Mike Garcia GOP House candidate in California


cnbc--2020-04-03--Dismissed US carrier captain to be reassigned during probe, acting Navy secretary says

Captain Brett Crozier , commanding officer of the U.S. Navy aircraft carrier USS Theodore Roosevelt , addresses the crew during @ @ @ @ @ ship 's flight deck in the eastern Pacific Ocean December 19 , 2019 .
The @ @ @ @ @ aircraft carrier that suffered a coronavirus outbreak will not be thrown out of the Navy @ @ @ @ @ U.S. Navy Secretary Thomas Modly told Reuters on Friday , adding that an investigation would @ @ @ @ @ disciplinary action .
In an interview , Modly said the probe would look into the @ @ @ @ @ command after Captain Brett Crozier was relieved of his command for sharing a scathing letter @ @ @ @ @ virus on the USS Theodore Roosevelt too widely , effectively allowing it to be leaked @ @ @ @ @ He 'll get reassigned , he 's not thrown out of the Navy , '' @ @ @ @ @ to Crozier 's dismissal has been intense .
In videos posted online , sailors on @ @ @ @ @ former commander and hailed him as a hero .

Captain Brett Crozier, commanding officer of the U.S. Navy aircraft carrier USS Theodore Roosevelt, addresses the crew during an all-hands call on the ship's flight deck in the eastern Pacific Ocean December 19, 2019.
The fired commander of a U.S. aircraft carrier that suffered a coronavirus outbreak will not be thrown out of the Navy but rather reassigned, acting U.S. Navy Secretary Thomas Modly told Reuters on Friday, adding that an investigation would determine if he should face disciplinary action.
In an interview, Modly said the probe would look into the communications and the chain of command after Captain Brett Crozier was relieved of his command for sharing a scathing letter regarding the outbreak of the virus on the USS Theodore Roosevelt too widely, effectively allowing it to be leaked to the media.
"He'll get reassigned, he's not thrown out of the Navy," Modly said.
The reaction to Crozier's dismissal has been intense. In videos posted online, sailors on the Theodore Roosevelt applauded their former commander and hailed him as a hero.
tweet


cnbc--2020-04-03--It's 'absurd' – 3M CEO defends coronavirus response after Trump invokes DPA

The CEO of 3M said Friday his company is maximizing its efforts to get respirator masks to U.S. health workers fighting the coronavirus , pushing back on what he called President Donald Trump 's `` absurd '' suggestion that the manufacturer was not doing all it could .
`` Nothing is further from the truth , '' CEO Mike Roman said on CNBC 's `` Squawk on the Street '' after being read Trump 's tweet slamming 3M `` after seeing what they were doing with their Masks . ''
Trump on Thursday issued an order under the Defense Production @ @ @ @ @ @ @ Wolf to `` use any and all authority available under the Act to acquire , from any appropriate subsidiary or affiliate of 3M Company , the number of N-95 respirators that the Administrator determines to be appropriate . ''
`` Big surprise to many in government as to what they were doing - will have a big price to pay ! ''
the president wrote .
`` The idea that 3M is not doing all it can to fight price gouging and unauthorized reselling is absurd , '' Roman said .
`` The @ @ @ @ @ @ @ we can to maximize deliveries of respirators in our home country – nothing is further from the truth . ''
Asked if the White House is trying to cover up for its own inadequacies in responding to the coronavirus pandemic , which has killed at least 6,058 people in the U.S. , Roman said the narrative being presented is `` just not true . ''
In a statement earlier Friday , 3M said it was already working with the Trump administration on getting more masks to the U.S. , prior to the president @ @ @ @ @ @ @ , a Korean War-era law .
`` We have been working closely with the Administration to do exactly that , and we appreciate the authorities in the DPA that provide a framework for us to expand even further the work we are doing in response to the global pandemic crisis , '' the company said .
Roman said on CNBC that `` we are net importing [ respirators ] into the U.S. , and we 've been telling the administration for days and days . ''
The Minnesota-based company had also warned the @ @ @ @ @ @ @ company to halt its exports to Canadian and Latin American markets could actually hinder the amount of masks brought into the U.S. '' Ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same , as some have already done , '' 3M said .
`` If that were to occur , the net number of respirators being made available to the United States would actually decrease . ''
Said Roman : `` We 're more than happy to shift our overseas production @ @ @ @ @ @ @ going to be consequences on a humanitarian level as we are often the sole provider of those respirators around the world . ''

The CEO of 3M said Friday his company is maximizing its efforts to get respirator masks to U.S. health workers fighting the coronavirus, pushing back on what he called President Donald Trump's "absurd" suggestion that the manufacturer was not doing all it could.
"Nothing is further from the truth," CEO Mike Roman said on CNBC's "Squawk on the Street" after being read Trump's tweet slamming 3M "after seeing what they were doing with their Masks."
Trump on Thursday issued an order under the Defense Production Act directing acting Homeland Security Secretary Chad Wolf to "use any and all authority available under the Act to acquire, from any appropriate subsidiary or affiliate of 3M Company, the number of N-95 respirators that the Administrator determines to be appropriate."
Later Thursday, Trump tweeted, "We hit 3M hard today."
"Big surprise to many in government as to what they were doing - will have a big price to pay!" the president wrote.
TWEET
"The idea that 3M is not doing all it can to fight price gouging and unauthorized reselling is absurd," Roman said. "The idea that we're not doing everything we can to maximize deliveries of respirators in our home country – nothing is further from the truth."
Asked if the White House is trying to cover up for its own inadequacies in responding to the coronavirus pandemic, which has killed at least 6,058 people in the U.S., Roman said the narrative being presented is "just not true."
In a statement earlier Friday, 3M said it was already working with the Trump administration on getting more masks to the U.S., prior to the president's invocation of the Defense Production Act, a Korean War-era law.
"We have been working closely with the Administration to do exactly that, and we appreciate the authorities in the DPA that provide a framework for us to expand even further the work we are doing in response to the global pandemic crisis," the company said.
Roman said on CNBC that "we are net importing [respirators] into the U.S., and we've been telling the administration for days and days."
The Minnesota-based company had also warned the administration that its apparent request for the company to halt its exports to Canadian and Latin American markets could actually hinder the amount of masks brought into the U.S.
"Ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done," 3M said. "If that were to occur, the net number of respirators being made available to the United States would actually decrease."
Said Roman: "We're more than happy to shift our overseas production to the U.S., but there are going to be consequences on a humanitarian level as we are often the sole provider of those respirators around the world."


cnbc--2020-04-03--'It's not enough' — Pelosi wants more small business loans, direct payments and unemployment benefit

'It's not enough' — Pelosi wants more small business loans, direct payments and unemployment benefits

House Speaker Nancy Pelosi on Friday called for another bill to expand the provisions in the $ 2 trillion package Congress passed last week to limit the economic devastation from the coronavirus pandemic .
`` Right now , I think that we have a good model .
It was bipartisan , it was signed by the president .
But it 's not enough , '' Pelosi told CNBC 's Jim Cramer after the government employment report showed the U.S. economy lost 701,000 jobs in early March as businesses started to shut down .
In the interview on `` Squawk on @ @ @ @ @ @ @ said she wants more direct payments to individuals , beyond the chunks of up to $ 1,200 lawmakers just approved .
She pushed for more small business loan funding on top of the $ 350 billion in the last law , and to extend beefed up unemployment insurance for two more months .
`` Let 's do what we just agreed to , except make it more current , '' the speaker said about what she wants to see in a fourth response bill .
Pelosi added that an infrastructure proposal House Democrats @ @ @ @ @ @ @ plan `` may have to be for a bill beyond this . ''
As the coronavirus spreads across the country , depleting health resources and sending the economy into free fall , Congress has started to consider whether it needs to offer more relief beyond the largest emergency spending package in U.S. history .
Lawmakers will not return to Washington until at least April 20 as the crisis rapidly evolves .
The White House has shown openness to more economic rescue funding .
President Donald Trump said Thursday the government will `` probably @ @ @ @ @ @ @ trillion in stimulus money .
He has pushed for an overhaul of U.S. infrastructure .
As the administration deals with the rocky rollout of small business loans designed to keep workers on payroll , Treasury Secretary Steven Mnuchin said Wednesday he would ask Congress for more funding if the $ 350 billion for the lifelines gets doled out quickly .
Congressional Republicans have sounded wary about spending more federal money now .
Before the jobs report Friday , House Minority Leader Kevin McCarthy , R-Calif. , told CNBC on Friday the `` focus @ @ @ @ @ @ @ they 're working . ''
`` I think whatever we do in the next phase should be targeted , it should be at the recovery time of when we need to do it , but right now we should focused on implementing the trillions of dollars that we just passed , '' he told `` Squawk Box . ''
Earlier this week , Senate Majority Leader Mitch McConnell said he wants to see how effective the last rescue package is before passing another bill .
In pushing to extend pieces of the emergency @ @ @ @ @ @ @ it received in Congress .
The GOP-led Senate passed it unanimously , and the Democratic-controlled House approved it by voice vote .
Republicans have opposed some of Pelosi 's priorities for the coronavirus response , such as a national vote-by-mail requirement to make casting ballots safer during the crisis .
She has also called for more grants to states fighting the crisis and tougher safety standards for Americans still required to go to work during the outbreak .
The unemployment insurance piece of the last stimulus package adds $ 600 per week in @ @ @ @ @ @ @ from states .
It lasts for four months , through July , and Pelosi hopes to extend it through September .
It also covers some people not typically eligible for benefits such as independent contractors .
Some Republicans opposed the unemployment provisions , arguing they would deter Americans from working .
The flood of new jobless claims , roughly 10 million over a two-week period , has overwhelmed state systems .

watch now
House Speaker Nancy Pelosi on Friday called for another bill to expand the provisions in the $2 trillion package Congress passed last week to limit the economic devastation from the coronavirus pandemic. "Right now, I think that we have a good model. It was bipartisan, it was signed by the president. But it's not enough," Pelosi told CNBC's Jim Cramer after the government employment report showed the U.S. economy lost 701,000 jobs in early March as businesses started to shut down. In the interview on "Squawk on the Street," the California Democrat said she wants more direct payments to individuals, beyond the chunks of up to $1,200 lawmakers just approved. She pushed for more small business loan funding on top of the $350 billion in the last law, and to extend beefed up unemployment insurance for two more months. "Let's do what we just agreed to, except make it more current," the speaker said about what she wants to see in a fourth response bill. Pelosi added that an infrastructure proposal House Democrats outlined this week as a potential recovery plan "may have to be for a bill beyond this."
U.S. House Speaker Nancy Pelosi (D-CA) delivers a statement on a coronavirus economic aid package ahead of a vote in the House of Representatives on Capitol Hill in Washington, U.S., March 13, 2020. Yuri Gripas | Reuters
As the coronavirus spreads across the country, depleting health resources and sending the economy into free fall, Congress has started to consider whether it needs to offer more relief beyond the largest emergency spending package in U.S. history. Lawmakers will not return to Washington until at least April 20 as the crisis rapidly evolves. The White House has shown openness to more economic rescue funding. President Donald Trump said Thursday the government will "probably do more" than the $2 trillion in stimulus money. He has pushed for an overhaul of U.S. infrastructure. As the administration deals with the rocky rollout of small business loans designed to keep workers on payroll, Treasury Secretary Steven Mnuchin said Wednesday he would ask Congress for more funding if the $350 billion for the lifelines gets doled out quickly. Congressional Republicans have sounded wary about spending more federal money now. Before the jobs report Friday, House Minority Leader Kevin McCarthy, R-Calif., told CNBC on Friday the "focus should be implementing those and making sure they're working." "I think whatever we do in the next phase should be targeted, it should be at the recovery time of when we need to do it, but right now we should focused on implementing the trillions of dollars that we just passed," he told "Squawk Box."
watch now


cnbc--2020-04-03--3M warns Trump: Halting exports under Defense Production Act would reduce number of masks available

3M warns Trump: Halting exports under Defense Production Act would reduce number of masks available to US

3M warned on Friday that the Trump administration 's request for the company to stop exporting respirator masks could actually make the protective gear less available in the United States .
The Minnesota manufacturing giant issued the warning a day after President Donald Trump invoked the Defense Production Act to force 3M to step up its production of desperately needed respirator masks for front-line health workers to use in the fight against the coronavirus .
The text of Trump 's order issued Thursday night directs acting Homeland Security Secretary Chad Wolf to `` use any and all authority available under @ @ @ @ @ @ @ appropriate subsidiary or affiliate of 3M Company , the number of N-95 respirators that the Administrator determines to be appropriate . ''
In its statement , the company said the Trump administration `` also requested that 3M cease exporting respirators that we currently manufacture in the United States to the Canadian and Latin American markets . ''
It added that `` there are , however , significant humanitarian implications of ceasing respirator supplies '' to health care workers in those countries , where 3M is a `` critical supplier of respirators . ''
@ @ @ @ @ @ @ of respirators produced in the United States would likely cause other countries to retaliate and do the same , as some have already done , '' 3M added .
`` If that were to occur , the net number of respirators being made available to the United States would actually decrease . ''
`` That is the opposite of what we and the Administration , on behalf of the American people , both seek . ''

3M warned on Friday that the Trump administration's request for the company to stop exporting respirator masks could actually make the protective gear less available in the United States.
The Minnesota manufacturing giant issued the warning a day after President Donald Trump invoked the Defense Production Act to force 3M to step up its production of desperately needed respirator masks for front-line health workers to use in the fight against the coronavirus.
The text of Trump's order issued Thursday night directs acting Homeland Security Secretary Chad Wolf to "use any and all authority available under the Act to acquire, from any appropriate subsidiary or affiliate of 3M Company, the number of N-95 respirators that the Administrator determines to be appropriate."
In its statement, the company said the Trump administration "also requested that 3M cease exporting respirators that we currently manufacture in the United States to the Canadian and Latin American markets."
It added that "there are, however, significant humanitarian implications of ceasing respirator supplies" to health care workers in those countries, where 3M is a "critical supplier of respirators."
"In addition, ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done," 3M added. "If that were to occur, the net number of respirators being made available to the United States would actually decrease."
"That is the opposite of what we and the Administration, on behalf of the American people, both seek."


cnbc--2020-04-03--The White House is watching these next coronavirus 'hot spots' to follow New York and New Jersey

Some 35 % of all coronavirus tests administered in New York and New Jersey have been positive , indicating a serious outbreak in both states , White House coronavirus advisor Dr. Deborah Birx said Thursday .
`` That confirms very clearly that that 's a very clear and important hot zone , '' she said at a White House press conference .
As states ramp up testing , U.S. officials are keeping a close watch on which areas of the country might follow New York —where 38 % of the country 's more than 242,100 cases are concentrated .
She @ @ @ @ @ @ @ all tests come back positive , concerns U.S. health officials .
Michigan , Connecticut , Indiana , Georgia and Illinois all test positive about 15 % of the time .
`` So that should tell you where the next hot spots are coming , '' she said .
White House officials are projecting between 100,000 and 240,000 deaths in the U.S. with coronavirus fatalities peaking over the next two or so weeks .
President Donald Trump again criticized New York leaders for not taking steps sooner to contain the outbreak there , saying @ @ @ @ @ @ @ going on and they got off to a late start . ''
Trump said coronavirus cases in several states `` started low and slow '' before shooting up .
`` Louisiana is an example .
It was low and slow and it was looking great ... after Mardis Gras it was low and then all of a sudden it went up very rapidly and now it 's one of our true hot spots , '' he said .
`` Detroit looked like it was doing pretty good and then it went up too @ @

Some 35% of all coronavirus tests administered in New York and New Jersey have been positive, indicating a serious outbreak in both states, White House coronavirus advisor Dr. Deborah Birx said Thursday.
"That confirms very clearly that that's a very clear and important hot zone," she said at a White House press conference.
As states ramp up testing, U.S. officials are keeping a close watch on which areas of the country might follow New York —where 38% of the country's more than 242,100 cases are concentrated.
She said Louisiana, where 26% of all tests come back positive, concerns U.S. health officials. Michigan, Connecticut, Indiana, Georgia and Illinois all test positive about 15% of the time.
"So that should tell you where the next hot spots are coming," she said.
White House officials are projecting between 100,000 and 240,000 deaths in the U.S. with coronavirus fatalities peaking over the next two or so weeks.
President Donald Trump again criticized New York leaders for not taking steps sooner to contain the outbreak there, saying "people knew some bad things were going on and they got off to a late start."
Trump said coronavirus cases in several states "started low and slow" before shooting up.
"Louisiana is an example. It was low and slow and it was looking great ... after Mardis Gras it was low and then all of a sudden it went up very rapidly and now it's one of our true hot spots," he said. "Detroit looked like it was doing pretty good and then it went up too."


cnbc--2020-04-03--White House says small business lending will begin Friday, but JPMorgan says it's not ready

The program is a crucial component of the $ 2 trillion stimulus package signed into law last week by President Donald Trump to cushion the blow of disruptions tied to the coronavirus .
The government has asked banks to begin disbursing $ 350 billion in forgivable loans just after midnight , and Treasury Secretary Steven Mnuchin said on CNBC this week he would ask Congress for more funding if that money ran out .
JPMorgan Chase , the biggest U.S. bank , was the first lender to publicly say what others had whispered : It emailed customers late Thursday to @ @ @ @ @ @ @ not be able to start accepting applications on Friday , April 3rd as we had hoped . ''
`` They 're not ready at all , they 're desperately awaiting guidance on how to do this , '' said Ami Kassar , CEO of small business loan advisory firm MultiFunding .
`` I think it 's going to be a mess for weeks . ''
From massive global institutions with trillion-dollar balance sheets to regional banks and small local lenders , the companies all had one thing in common : They were awaiting @ @ @ @ @ @ @ and the U.S. Treasury on exactly how to administer the program .
Hours before the launch of a federal program to dole out at least $ 350 billion in loans to struggling small businesses , banks interviewed by CNBC were n't sure they 'd be ready .
Mnuchin doubled down on the timing , saying in a Thursday evening press conference that the program `` will be up and running tomorrow '' and that he would raise the interest banks can charge after hearing industry feedback .
But banks only began getting an @ @ @ @ @ @ @ create web portals for the program on Wednesday , when the Treasury 's website was uploaded with a sample application .
Since then , they 've been told repeatedly that more guidance was coming .
When it finally arrived late Thursday , banks had to scramble to digest a 31-page `` Interim Final Rule '' that laid out how the program will operate .
That left little time for banks to make the needed changes ahead of the midnight start to the program .
`` Having just received guidance outlining how to implement @ @ @ @ @ @ @ before it starts , we would ask for everyone to be patient as banks move heaven and earth to get a system in place and running to help America 's small businesses and the millions of men and women who work at them , '' said Richard Hunt , head of the Consumer Bankers Association .
Lenders had asked for assurances that they will be `` held harmless '' if borrowers use inaccurate data in their applications and want clarification on who will be on the hook for fraudulent loans , according to @ @ @ @ @ @ @ The industry also asked that strict anti-money laundering rules be relaxed for this program , and smaller banks in particular asked to be able to charge higher interest rates than what the Treasury has disclosed , said another person with knowledge of the matter .
The biggest lenders , including JPMorgan Chase , Bank of America and Wells Fargo , are expected to only accept applications from existing customers via websites the banks are building .
The banks will get fees of 1 % to 5 % for the loans , depending on @ @ @ @ @ @ @ interest if they are not forgiven after two months .
That 1 % rate was changed late Thursday from 0.50 % .
An industry group was so concerned that its members were running out of time that it had discussed going public with a request to delay the start of the program until at least Monday , according to a person with knowledge of the matter .
It backed off after getting assurances that more guidance was coming soon .
One potential cause for the delay : dysfunction between the SBA and Treasury @ @ @ @ @ @ @ of small business loan marketplace Lendio .
`` 30 million small businesses will be beating down the doors for capital tomorrow , '' Blake tweeted Thursday .
`` It 's a DISASTER waiting to happen . ''
The last time banks were asked to administer a government program tied to relief , it was a mortgage modification program in the wake of the 2008 financial crisis .
The Home Affordable Modification Program was shuttered after helping a fraction of the 4 million homeowners initially targeted .
Lenders are afraid of incurring government fines @ @ @ @ @ @ @ , as they did in the years after the financial crisis , said Paul Kupiec , a scholar with conservative think tank American Enterprise Institute .
`` These loans are a minefield for lenders '' Kupiec said .
They are `` chocked full of qualifying requirements that must be checked and certified , '' he said , adding that its `` not hard to imagine there might be unscrupulous businesses that stretch the truth to get a bigger loan than allowed by law . ''
Even the timing of the start of the @ @ @ @ @ @ @ did it on a Friday so people will want to get it done before the weekend , '' said one executive of a large U.S. bank .
`` We 're bracing ourselves for an avalanche of requests for money . ''
Still , as recently as an interview Wednesday with CNBC 's Jim Cramer , Mnuchin was drumming up interest in the program , which he reiterated would be live on Friday .
`` Jim , you have to keep talking about it and get everybody to sign up , '' Mnuchin said @ @ @ @ @ @ @ the people at the SBA and Treasury who have literally been working 24 hours a day .
The fact we 've been able to get up a new program in less than a week is just extraordinary . ''
With reporting from CNBC 's Wilfred Frost , Kayla Tausche and Kate Rogers .

The program is a crucial component of the $2 trillion stimulus package signed into law last week by President Donald Trump to cushion the blow of disruptions tied to the coronavirus. The government has asked banks to begin disbursing $350 billion in forgivable loans just after midnight, and Treasury Secretary Steven Mnuchin said on CNBC this week he would ask Congress for more funding if that money ran out.
JPMorgan Chase , the biggest U.S. bank, was the first lender to publicly say what others had whispered: It emailed customers late Thursday to say the company "will most likely not be able to start accepting applications on Friday, April 3rd as we had hoped."
"They're not ready at all, they're desperately awaiting guidance on how to do this," said Ami Kassar, CEO of small business loan advisory firm MultiFunding. "I think it's going to be a mess for weeks."
From massive global institutions with trillion-dollar balance sheets to regional banks and small local lenders, the companies all had one thing in common: They were awaiting key guidance from the Small Business Administration and the U.S. Treasury on exactly how to administer the program.
Hours before the launch of a federal program to dole out at least $350 billion in loans to struggling small businesses, banks interviewed by CNBC weren't sure they'd be ready.
Mnuchin doubled down on the timing, saying in a Thursday evening press conference that the program "will be up and running tomorrow" and that he would raise the interest banks can charge after hearing industry feedback.
But banks only began getting an outline of the information they need to create web portals for the program on Wednesday, when the Treasury's website was uploaded with a sample application. Since then, they've been told repeatedly that more guidance was coming.
When it finally arrived late Thursday, banks had to scramble to digest a 31-page "Interim Final Rule" that laid out how the program will operate. That left little time for banks to make the needed changes ahead of the midnight start to the program.
"Having just received guidance outlining how to implement a $349 billion program literally hours before it starts, we would ask for everyone to be patient as banks move heaven and earth to get a system in place and running to help America's small businesses and the millions of men and women who work at them," said Richard Hunt, head of the Consumer Bankers Association.
Lenders had asked for assurances that they will be "held harmless" if borrowers use inaccurate data in their applications and want clarification on who will be on the hook for fraudulent loans, according to people with knowledge of the discussions.
The industry also asked that strict anti-money laundering rules be relaxed for this program, and smaller banks in particular asked to be able to charge higher interest rates than what the Treasury has disclosed, said another person with knowledge of the matter.
The biggest lenders, including JPMorgan Chase, Bank of America and Wells Fargo , are expected to only accept applications from existing customers via websites the banks are building. The banks will get fees of 1% to 5% for the loans, depending on their size, and collect 1% interest if they are not forgiven after two months. That 1% rate was changed late Thursday from 0.50%.
An industry group was so concerned that its members were running out of time that it had discussed going public with a request to delay the start of the program until at least Monday, according to a person with knowledge of the matter. It backed off after getting assurances that more guidance was coming soon.
One potential cause for the delay: dysfunction between the SBA and Treasury, according to Brock Blake, founder of small business loan marketplace Lendio.
"30 million small businesses will be beating down the doors for capital tomorrow," Blake tweeted Thursday. "It's a DISASTER waiting to happen."
https://twitter.com/brockblake/status/1245776236720226305?s=21
The last time banks were asked to administer a government program tied to relief, it was a mortgage modification program in the wake of the 2008 financial crisis. The Home Affordable Modification Program was shuttered after helping a fraction of the 4 million homeowners initially targeted.
Lenders are afraid of incurring government fines tied to the execution of the program, as they did in the years after the financial crisis, said Paul Kupiec, a scholar with conservative think tank American Enterprise Institute.
"These loans are a minefield for lenders" Kupiec said. They are "chocked full of qualifying requirements that must be checked and certified," he said, adding that its "not hard to imagine there might be unscrupulous businesses that stretch the truth to get a bigger loan than allowed by law."
Even the timing of the start of the program has banks worried. "They did it on a Friday so people will want to get it done before the weekend," said one executive of a large U.S. bank. "We're bracing ourselves for an avalanche of requests for money."
Still, as recently as an interview Wednesday with CNBC's Jim Cramer, Mnuchin was drumming up interest in the program, which he reiterated would be live on Friday.
"Jim, you have to keep talking about it and get everybody to sign up," Mnuchin said. "I want to thank all the people at the SBA and Treasury who have literally been working 24 hours a day. The fact we've been able to get up a new program in less than a week is just extraordinary."
With reporting from CNBC's Wilfred Frost, Kayla Tausche and Kate Rogers.


cnbc--2020-04-04--Conservative dark money groups gear up for battle over DC Circuit Court that once included Brett Kav

Conservative dark money groups gear up for battle over DC Circuit Court that once included Brett Kavanaugh

Senate Majority Leader Mitch McConnell , a Republican from Kentucky , left , speaks as U.S. House Minority Leader Kevin McCarthy , a Republican from California , right , and U.S. President Donald Trump listen before the H.R .
748 , Coronavirus Aid , Relief , and Economic Security ( CARES ) Act , is signed in the Oval Office of the White House in Washington , D.C. , U.S. , on Friday , March 27 , 2020 .
Conservative dark money groups are preparing for one of their biggest battles of the year over President Donald Trump 's new @ @ @ @ @ @ @ a court that once included Supreme Court Justice Brett Kavanaugh .
Trump on Friday announced that he will nominate Justin Walker to the D.C .
Circuit Court of Appeals .
Kavanaugh was confirmed to the Supreme Court in October 2018 after a bitter fight in the U.S. Senate that included accusations of sexual assault which Kavanaugh vehemently denied .
The fight over Kavanaugh 's Supreme Court confirmation included millions of dollars of outside money spent either for or against the controversial judge .
Walker was confirmed in 2019 to the U.S. District Court @ @ @ @ @ @ @ after the American Bar Association deemed him `` not qualified '' for the position .
That rating , on top of the fact that most Democrats have opposed many of the president 's nominations , has conservative outside groups , such as the Judicial Crisis Network and the Article III Project , preparing for an all-out war in defense of Walker , according to people with direct knowledge of matter .
`` The D.C .
Circuit is considered the second highest court in the land , and barring a Supreme Court vacancy , @ @ @ @ @ @ @ this year , '' Mike Davis , the founder of Article III , told CNBC in an interview on Friday .
Though it 's unclear how some of the liberal organizations are planning to take on the Walker nomination , Demand Justice , a group who vehemently opposed Kavanaugh 's nomination has already gone on offense .
`` The nomination of a Mitch McConnell crony , who has been rated unqualified by his peers , to the second highest court in the country is beyond suspicious , '' Demand Justice Chief Counsel Christopher @ @ @ @ @ @ @ to know if McConnell contacted Griffith directly , as reports suggest he may have , and if so , what he offered in exchange for his retirement . ''
Since Democrats are the minority in the Senate , it 's unlikely they will be able to block Walker 's nomination .
Trump and Republicans have repeatedly touted their record of confirming judges across the country .
Still , the groups want to boost Walker 's credibility and defend him against liberal attacks .
During the Kavanaugh hearings , the JCN pledged to spend @ @ @ @ @ @ @ of his confirmation .
Their efforts for Walker will include organizing pro-Walker TV and radio appearances , op-eds , and , in some cases , advising Republican lawmakers on how best to drive the message as to why Walker should be confirmed , the people with direct knowledge added .
They noted one of the goals will be to galvanize a conservative coalition around the judge .
Article III , along with close to 20 other conservative groups , sent a letter on Friday to Sen. Lindsey Graham , the chairman of the @ @ @ @ @ @ @ Feinstein , the committee 's ranking Democratic member , to insist on Walker 's immediate confirmation .
`` We strongly support President Trump 's nomination of Judge Justin Walker to serve on the United States Court of Appeals for the D.C .
Circuit , and we urge you to confirm him at the earliest opportunity , '' the letter says .
`` Every member of this Committee and every American of goodwill should support Judge Walker 's nomination to the D.C .
Circuit . ''
The others who signed the letter include the @ @ @ @ @ @ @ Kirk and Erick Erickson , a conservative blogger .
The letter was organized by the Article III group .
This group of 501 ( c ) ( 4 ) organizations , who do not disclose their donors , will highlight Walker 's resume , which includes a job as a former clerk for Kavanaugh and for retired Supreme Court Justice Anthony Kennedy .
He also has ties to Senate Majority Leader Mitch McConnell , who knows Walker 's grandfather .
Davis was previously the chief counsel for nominations under Sen. Chuck Grassley , @ @ @ @ @ @ @ Judiciary Committee , before Graham got the position .
Davis helped Grassley and Republicans on the committee push Kavanaugh 's nomination to the Senate floor where he was confirmed with a razor-thin majority .
The Judicial Crisis Network would n't confirm how they 're planning to fight back against opposition to Walker , but Carrie Severino , who leads the group , pointed to how they 've handled past nominations when asked about their strategy .
`` We set up websites , we rally the forces of the conservative coalition , we have @ @ @ @ @ @ @ checking and the reading of peoples records , '' Severino said .
`` We are going to be tailoring our position based on the kind of response we get . ''

Senate Majority Leader Mitch McConnell, a Republican from Kentucky, left, speaks as U.S. House Minority Leader Kevin McCarthy, a Republican from California, right, and U.S. President Donald Trump listen before the H.R. 748, Coronavirus Aid, Relief, and Economic Security (CARES) Act, is signed in the Oval Office of the White House in Washington, D.C., U.S., on Friday, March 27, 2020.
Conservative dark money groups are preparing for one of their biggest battles of the year over President Donald Trump's new pick to fill the a seat on a court that once included Supreme Court Justice Brett Kavanaugh.
Trump on Friday announced that he will nominate Justin Walker to the D.C. Circuit Court of Appeals. Kavanaugh was confirmed to the Supreme Court in October 2018 after a bitter fight in the U.S. Senate that included accusations of sexual assault which Kavanaugh vehemently denied.
The fight over Kavanaugh's Supreme Court confirmation included millions of dollars of outside money spent either for or against the controversial judge.
Walker was confirmed in 2019 to the U.S. District Court for the Western District of Kentucky, after the American Bar Association deemed him "not qualified" for the position.
That rating, on top of the fact that most Democrats have opposed many of the president's nominations, has conservative outside groups, such as the Judicial Crisis Network and the Article III Project, preparing for an all-out war in defense of Walker, according to people with direct knowledge of matter.
"The D.C. Circuit is considered the second highest court in the land, and barring a Supreme Court vacancy, this will be the biggest judicial fight this year," Mike Davis, the founder of Article III, told CNBC in an interview on Friday.
Though it's unclear how some of the liberal organizations are planning to take on the Walker nomination, Demand Justice, a group who vehemently opposed Kavanaugh's nomination has already gone on offense.
"The nomination of a Mitch McConnell crony, who has been rated unqualified by his peers, to the second highest court in the country is beyond suspicious," Demand Justice Chief Counsel Christopher Kang said Friday. "We need to know if McConnell contacted Griffith directly, as reports suggest he may have, and if so, what he offered in exchange for his retirement."
Since Democrats are the minority in the Senate, it's unlikely they will be able to block Walker's nomination. Trump and Republicans have repeatedly touted their record of confirming judges across the country.
Tweet:
Still, the groups want to boost Walker's credibility and defend him against liberal attacks.
During the Kavanaugh hearings, the JCN pledged to spend up to $10 million in support of his confirmation.
Their efforts for Walker will include organizing pro-Walker TV and radio appearances, op-eds, and, in some cases, advising Republican lawmakers on how best to drive the message as to why Walker should be confirmed, the people with direct knowledge added. They noted one of the goals will be to galvanize a conservative coalition around the judge.
Article III, along with close to 20 other conservative groups, sent a letter on Friday to Sen. Lindsey Graham, the chairman of the Senate Judiciary Committee, and Sen. Dianne Feinstein, the committee's ranking Democratic member, to insist on Walker's immediate confirmation.
Read the full letter here
"We strongly support President Trump's nomination of Judge Justin Walker to serve on the United States Court of Appeals for the D.C. Circuit, and we urge you to confirm him at the earliest opportunity," the letter says. "Every member of this Committee and every American of goodwill should support Judge Walker's nomination to the D.C. Circuit."
The others who signed the letter include the founder of Turning Point USA, Charlie Kirk and Erick Erickson, a conservative blogger. The letter was organized by the Article III group.
This group of 501(c)(4) organizations, who do not disclose their donors, will highlight Walker's resume, which includes a job as a former clerk for Kavanaugh and for retired Supreme Court Justice Anthony Kennedy. He also has ties to Senate Majority Leader Mitch McConnell, who knows Walker's grandfather.
Davis was previously the chief counsel for nominations under Sen. Chuck Grassley, who was the chairman of the Senate Judiciary Committee, before Graham got the position. Davis helped Grassley and Republicans on the committee push Kavanaugh's nomination to the Senate floor where he was confirmed with a razor-thin majority.
The Judicial Crisis Network wouldn't confirm how they're planning to fight back against opposition to Walker, but Carrie Severino, who leads the group, pointed to how they've handled past nominations when asked about their strategy.
"We set up websites, we rally the forces of the conservative coalition, we have run ads, we often do fact checking and the reading of peoples records," Severino said. "We are going to be tailoring our position based on the kind of response we get."


cnbc--2020-04-04--American, Delta and others apply for relief grants — now comes the hard part

American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease ( COVID-19 ) , at Tulsa International Airport in Tulsa , Oklahoma , U.S. March 23 , 2020 .
The coronavirus has devastated air travel demand , prompting airlines to plead with their employees to take unpaid and partially paid leave as they scramble to cut costs .
Even with the aid , top airline leaders warn of a prolonged slump in demand that has no end in sight .
Carriers had until 5 p.m .
ET Friday @ @ @ @ @ @ @ grants in exchange for not furloughing workers or cutting their pay rates through Sept. 30 , aid that airlines and labor unions lobbied for and Congress approved in a $ 2 trillion coronavirus relief package last week .
The aid also allows for $ 29 billion in loans for passenger and cargo airlines .
U.S. airlines JetBlue , American , United and Delta on Friday submitted applications to the Treasury Department for government grants to not furlough employees through Sept. 30 despite an unprecedented decline in air travel demand .
Now they have @ @ @ @ @ @ @ those funds alone are not nearly enough , '' Delta CEO Ed Bastian told employees in a note .
`` We are expecting our revenue in the second quarter to be down 90 % .
Without the self-help actions we are taking to save costs and raise new financing , that money would be gone by June . ''
He said 30,000 employees have volunteered for unpaid leaves of absence and that the Atlanta-based airline still needs more volunteers .
JetBlue CEO Robin Hayes told employees that it planned to work through the @ @ @ @ @ @ @ week , as time is of the essence . ''
But Hayes warned employees that the airline `` may not get enough to cover pay and benefits at the level you see when we are flying at full capacity . ''
The New York-based airline is cutting its capacity by 70 % this month , meaning smaller paychecks .
The aid requires airlines not to cut airline workers ' pay rates , not their hours .
`` The good news is this law keeps paychecks coming and it buys us time , '' @ @ @ @ @ @ @ aid issued earlier this week state that the Treasury Department is authorized to receive compensation in the form of warrants , options , preferred stock and other securities in exchange for the grants .
At least one U.S. airline debated the size of an equity stake to offer in its application , or whether the carrier should offer one at all , but ultimately included it in its application according to a person familiar with the discussions .
Another person familiar with the industry 's thinking said executives might be willing to allow @ @ @ @ @ @ @ such as around 2 % , or cap the size of the stake .
While the loan application implies financial instruments in exchange for the funds will be required , the application for grants notes it `` may '' include such securities .
One of the people familiar with the industry 's thinking said the softer language in applications for cash grants leaves the door open to negotiation Treasury Secretary Steven Mnuchin has said he wants taxpayers compensated for the investment , though he has not outlined those plans in great detail .
@ @ @ @ @ @ @ with the president to make sure we strike the right balance , '' Mnuchin said in at news conference on Thursday .
`` Not a bailout : taxpayers get compensated . ''
Airlines applying for grants will put forward an offer to the government on both the amount and terms .
Those offers differ across airlines , whose balance sheets and payroll costs vary .

The coronavirus has devastated air travel demand, prompting airlines to plead with their employees to take unpaid and partially paid leave as they scramble to cut costs. Even with the aid, top airline leaders warn of a prolonged slump in demand that has no end in sight.
Carriers had until 5 p.m. ET Friday to apply for $25 billion in grants in exchange for not furloughing workers or cutting their pay rates through Sept. 30, aid that airlines and labor unions lobbied for and Congress approved in a $2 trillion coronavirus relief package last week. The aid also allows for $29 billion in loans for passenger and cargo airlines.
U.S. airlines JetBlue , American , United and Delta on Friday submitted applications to the Treasury Department for government grants to not furlough employees through Sept. 30 despite an unprecedented decline in air travel demand. Now they have to negotiate the details.
"But those funds alone are not nearly enough," Delta CEO Ed Bastian told employees in a note. "We are expecting our revenue in the second quarter to be down 90%. Without the self-help actions we are taking to save costs and raise new financing, that money would be gone by June."
He said 30,000 employees have volunteered for unpaid leaves of absence and that the Atlanta-based airline still needs more volunteers.
JetBlue CEO Robin Hayes told employees that it planned to work through the weekend to "conclude an agreement next week, as time is of the essence." But Hayes warned employees that the airline "may not get enough to cover pay and benefits at the level you see when we are flying at full capacity." The New York-based airline is cutting its capacity by 70% this month, meaning smaller paychecks. The aid requires airlines not to cut airline workers' pay rates, not their hours.
"The good news is this law keeps paychecks coming and it buys us time," Hayes wrote.
Guidelines for the payroll aid issued earlier this week state that the Treasury Department is authorized to receive compensation in the form of warrants, options, preferred stock and other securities in exchange for the grants.
At least one U.S. airline debated the size of an equity stake to offer in its application, or whether the carrier should offer one at all, but ultimately included it in its application according to a person familiar with the discussions. Another person familiar with the industry's thinking said executives might be willing to allow the government to take small equity stakes such as around 2%, or cap the size of the stake.
While the loan application implies financial instruments in exchange for the funds will be required, the application for grants notes it "may" include such securities. One of the people familiar with the industry's thinking said the softer language in applications for cash grants leaves the door open to negotiation
Treasury Secretary Steven Mnuchin has said he wants taxpayers compensated for the investment, though he has not outlined those plans in great detail.
"I'll be working very closely with the president to make sure we strike the right balance," Mnuchin said in at news conference on Thursday. "Not a bailout: taxpayers get compensated."
Airlines applying for grants will put forward an offer to the government on both the amount and terms. Those offers differ across airlines, whose balance sheets and payroll costs vary.