WHITE HOUSE TRUMP MEETS WITH RESTAURANT ASSOCIATION
1450 WH RESTAURANT ROUND TABLE FS23 73
ABC POOL
President Donald Trump Round table meeting with members of the restaurant association
WASH 3 PRESIDENT TRUMP RESTAURANT EXECUTIVES ROUNDTABLE POOL
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TRUMP>> Well, thank you very much. We're here with the leaders of the restaurant industry. It's a -- an industry that's been tremendously impacted by what's happening with Covid. And it's an industry that we're working very hard with and on. We're looking at doing deductibility so that a corporation can use a restaurant, entertainment clubs, etcetera, and get deductibility. I think that'll really have a big impact. Steve can, maybe, talk about it -- Steve Mnuchin.
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But I'd like to have some of these leaders talk about, real quickly, about their company and the industry and any ideas they have. And I think we can do it in front of the media for a little while, and then we can answer a couple of questions, and then we're gonna get back to business. Okay? Please.
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JOSE CIL>> Well, Mr. President, Mr. Vice President, Secretary Mnuchin, Secretary Scalia and everyone else here, including my brethren from the restaurant industry -- thanks so much for having us here. It's an honor for me to be here representing 10,000 restaurants in the US. We have Burger King, Popeye's, and Tim Horton's. These restaurants are owned by small businesses.
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We have franchises from coast to coast that work day in and day out. We have team members that are in the restaurants day in and day out. We have -- we've been in the restaurants working as an essential service since the crisis in March. We have had our drive throughs open and deliveries open and we've still had a tremendous impact on our business, and so we're really looking forward to the process of reopening the economy, reopening the country.
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We already have about 1000 locations around the country that have started to open the dining rooms with reduced capacity. We've added PPe, we've also added safe -- social distancing in the restaurants to ensure that people can come in. we have acrylic screens in the front counter. We have masks and gloves for the employees to ensure that everyone feels safe, pur guests and our team members. And I just wanted to thank the president, Mr President, and your administration. I think you've acted quickly and swiftly and with good measure. The CARES act, the PPE had a tremendous impact on our businesses, and I think there's a lot we think that can do to make a very good program even better.
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One of the things that we've talked about as we were kind of chatting here is this idea of extending the eight week deadline. We think that eight week deadline, when it was implemented was probably, you know, eight weeks seemed like an eternity but today we're in the tenth week of the pandemic and I think it's gonna take some time for our restaurants and our owners to get back to the capacity levels and the traffic levels that we were seeing pre-covid
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And so a little more time, we think probably taking it to 24 weeks would be appropriate, to allow for restaurant owners that are participating in the program to be able to -- to -- to manage through a rehire the employees which is what the purpose of ppp was intended for. There was two other things that I think are important for us. One is we think business liability protection for small businesses is important. You know, we're going to see potentially with the reopening of the economy, with the reopening of small restaurants, we're going to see frivolous, and I think unfounded lawsuits against restaurant owners, against small businesses, that are trying to do the right thing.
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That are trying to survive and trying to keep their businesses going so we firmly believe that protection from these types of frivolous lawsuits would be helpful. And then finally, to the extent that there is additional federal assistance that's targeted for the restaurant industry, I think that the restaurant industry as a whole took about -- participated to the tune of about nine percent of the pp and we think there should be additional funds available for us to be able to weather and continue to weather the storm, but we're really proud to be here.
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Proud to be part of this extraordinary group of restaurant leaders and thank you so much for the opportunity to be here.
TRUMP>> Well, thank you. That's a lot. Ten thousand restaurants and that's some big -- that's some big group and good group too. I know -- I know your chains and a lot about your company. It's a great company so you' ll be back very soon and no doubt about it. And some of the things you mentioned we'll be talking about. I do want to say before we go further. So, this was a very big day therapeutically, cure wise and vaccine wise. Tremendous progress has been made as i've been saying for two weeks because I've been seeing what's going on and think spearheading it largely.
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And this was a very, very -- some big announcements are coming and have just come out. And the market's up almost 1,000 points. You'll check your market, your -- I'm sure you did before you walked in the room. But I imagine your company's doing better today than it was a week ago, right?
CIL>> We're focused on the profitability of our franchises. That's my focus.
TRUMP>> Okay. Yeah, good. So what we have is big announcements coming. Big announcements have already come. And tremendous progress has been made.
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Therapeutically, cure-wise and also, obviously, vaccine. To me, therapeutically and cure is more important than vaccine because it's immediate and we have something -- even people that are very sick right now, we're trying to expedite everything so it goes really quickly -- really, really quickly. Like let's get it going immediately. So, if you have somebody who's not going to make it, if you have somebody that's going to pass away -- going to die -- and if we have something that we think works, we want to get them immediately into those hospitals or wherever the people are located.
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So, that's being talked about also with the FDA, with Dr. Stephen Hahn who's doing a fantastic job. And so we're trying to expedite things, but very importantly, just overall, what big news it is medically. We are so far ahead of where you would normally be, just from a logistical standpoint. And that's the other thing. We're also gearing up, and close to geared up because we have tremendous people in the military so they'll be able to deliver service very rapidly.
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So lotta good things are happening, and let's see what happens in the very near future. Stever, do you have anything to say?
MNUCHIN>> Just want to add, Mr. President, that -- thank you for all being here. We appreciate how many people who employ, as an industry, and the special issues that we have. And we look forward to continuing to work with you.
TRUMP>> Good. Thank you very much. How are you doing on deductibility, Steve? How's that going? Good? Good. Please.
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RODRIGUE>> Thank you, Mr. President. Really appreciate you gathering us here today. This is a great representation of restaurants from across the country. Jose with his 10,000. My two on Bourbon Street. I am the President and CEO of Galatoire's. We've been there since 1905.
TRUMP>> Yeah, right.
RODRIGUE>> And you know, restaurants are the cornerstone of so many communities. Where some big business is absent, restaurants are there, and we employ so many people. We just appreciate how swiftly y'all have acted to bring relief our way.
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We think with just a few small changes in cover period and length of the cover period on forgiveness of PPP, you have a real great opportunity. And you know, just the very nature of restaurants in general -- we rely on social interaction.
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So it makes us really unique that we were hit hard quickly, and it's going to make our comeback really difficult. That being said, I'm glad to hear your news, that there's --
TRUMP>> Well, my news negates what you just said because you would you would be back into business like you had it.
RODRIGUE>> Yeah.
TRUMP>> No seats lost, etc etc. You'll -- we'll see what happens, but it certainly negates it
RODRIGUE>> Yeah, yeah. So you know, in the interim, we appreciate the opportunity to be in front of you. Longer cure periods on the, on the test periods on the loans would be incredible. You know, a city like New Orleans, we have 1500 restaurants, but only 400,000 people.
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And so, when you look at that, where, how do we survive? We survived with with leisure and business travelers, 19 million visitors last year, and that being said, you know, it's going to take us a little time to ramp back up. So we're looking forward to that period of time. And, and we believe that you guys have the opportunity to help us. We greatly appreciate it. We survived Hurricane Katrina, we've survived the BP oil spill. Restauranteurs are a resilient group, very tenacious.
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And so, we're there and we appreciate your help.
TRUMP>> So your area was amazing because it was hit hard, but it was very late. We didn't think it was going to be hit at all and then all of a sudden it spiked up. After you had a certain event. And who knows what caused it but maybe it was that.
RODRIGUE>> Yeah.
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TRUMP>> And then it, it's doing incredibly well right now, it's really down at a low number.
RODRIGUE>> Yeah, we've really made great progress. The governor's done a really good job. That being said, you know, 25% capacity is tough. To literally saying --
TRUMP>> I agree.
RODRIGUE>> -- that this week when we reopen at 25% we'll lose more money --
TRUMP>> No.
RODRIGUE>> -- than last week because now we're incurring expenses.
TRUMP>> You got to get 100% Okay?
RODRIGUE>> Yes sir.
TRUMP>> Got to get up and I hope it's going to be very fast. I hope the governor does that pretty quickly. Let's see how it goes. A lot has to do with what I said in my opening remarks. Ivanka, do you have anything to say? I know you like this industry.
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IVANKA TRUMP>> Well I've spoken with many of the people around this table over the course of the past several weeks and beforehand. And I do think it's worth noting the paycheck Protection Program has given restaurants alone, that industry alone, over $30 billion of relief, representing a quarter of a million restaurants nationwide. And that's just where we are today so the feedback has been tremendously helpful. The Secretary's made some changes in the guidance and to of course informing new policy as we come out of this, but we really appreciate your being here and we thank you for the feedback.
TRUMP>> Thank you.
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GUIDARA>> HI, Mr President, Vice President, Secretary, all of you. Thank you for having us. My name is Will Guidara of 11 Madison Park in New York City. But I'm also a founding member of the independent restaurant coalition. We started just seven weeks ago. And we're here because we got together to represent the 500,000 independent restaurants across America. I'm talking about the mom and pops, your local diner, the pizza place, the pasta joint and the three Michelin star restaurant. And honestly, everything in between.
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And the things that represent the cultural fabric of our cities and of our towns and the things that I believe, as a country we need to fight to keep. We also represent the 11 million people that work in those independent restaurants across the country. Listen, it's clear that this administration cares about our industry. And it's also clear that all of you understand the extent to which we are more specifically vulnerable than a lot of other industries in America.
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And I think that's why we're here today. And so I think it's just important to take a moment and acknowledge that and say thank you, that we're taking this time.
TRUMP>> Thank you, Will. Very much.
GUIDARA>> PPP is important, and the changes that have already been talked about and are going to continue being talked about today are very important. And if those changes are made such that people feel confidence that they can spend that money and have it forgiven. I think that will be the thing that allows our restaurants to reopen. That said, We need something more than that, that is specific to independent restaurants in order for our restaurants to stay open.
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Everyone here knows that last month alone I think in the first half of April, more than one out of four people that applied for unemployment were restaurant workers, one out of four, it's just insane. And so we've put forward a plan to members of Congress and to this administration that we put forward because it'll put all of those people that are currently unemployed back to work, such that by the third quarter of this year, we're going to be looking at unemployment reports that are astonishingly good.
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Not to mention the supply chain that we represent. If restaurants go down, the commercial real estate industry, the farming industry. And so our plan helps bring unemployment back to where it needs to be. And it supports a lot of our other industries that rely on independent restaurants for their survival. And so we appreciate being here. We'd love the opportunity to talk more about this. I know that in times like this a lot of people have their hands out. I don't take that lightly. I do believe that independent restaurants are more vulnerable than most. And a really important part of this nation. And I don't want to lose them. So we appreciate your consideration and your support.
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TRUMP>> Okay, thank you very much, Will. Appreciate it. Larry please.
KUDLOW>> Thank you, sir. 48 states are opening. That's a big plus. And the vaccination research news is great today. So we see it in the stock market. I want to thank everybody for being here. We are working hard. Steve mentioned the tax deductions for restaurants. We're also working very hard on the COVID-19 liability restrictions. That's going to be a key part of our next package, and I just want to say, I guess I'm usually the optimist, but we're in a terrible pandemic contraction here in the second quarter. We know that.
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There's a lot of hardship, and a lot of heartbreak. But there's also a few glimmers of hope of recovery because I know you, sir, believe in the second half recovery and I do too and I think with the right policies we can have a booming next year but the signs are housing demand looks better, gasoline demand looks better. The Apple mobility index looks better. That's, you know,
people dialing up to see who's -- where to get from A to B. New York State's Empire State manufacturing index was up enormously.
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I don't know where that came from but it was. Unemployment claims each week look terrible but they're a lot less terrible. You know 7 million to 3 million. So there are some glimmers of hope. Kevin has some data on better credit card numbers so it's a tough haul, but I think things are starting to turn, that's my take. I wish everybody luck.
TRUMP>> I think so Larry. Maybe much more than people understand and you start to see that. Going to come back strong, please.
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BODENSTEDT>> Mr. President, Mr. Vice President, Secretary Scalia, Secretary. I want to thank you for having us here today. I have restaurants across the United States. We average 27 employees per restaurant. These are the small businesses across in each of these communities that those 27 people have families, have mortgages, have rents, have car payments to make every day, and being able to stay open and work with the governors and get the PPP money, and to be able to give people reassurances that tomorrow is going to be better than it was today.
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And to give them that hope has been really important for us, our business, and those families, and I want to thank you for your leadership and your team's leadership in doing so. One of the things we talk about in the business is how well we -- we talk about treating others and bringing people into the family and bringing them into the restaurant like you're bringing them into your home. And that's what we do in the restaurant business every day. We treat everyone like family and doing so, and having the leadership here has been really helpful to us and the entire industry. And frankly, you know, eight weeks, nine weeks ago, I was thinking about this Chinese nightmare, and I didn't want it to affect the American dream that we all had.
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And, and I'm a success story about the American dream. Going from 3.45 an hour starting at the front counter in a fast food restaurant to what we have today, and I couldn't be prouder --
TRUMP>> How many? How many restaurants?
BODENSTEDT>> I own and operate 765 restaurants across the United States.
TRUMP>> That's fantastic.
BODENSTEDT>> And it's -- I couldn't be -- It's an American Dream sir, and I appreciate everything everyone's doing here to keep that dream going, and tomorrow's gonna be better than today and I appreciate that. Thank you.
TRUMP>> If we get the deductibility, you'll do better than you did two months ago.
BODENSTEDT>>Thank you, sir.
TRUMP>> that's my opinion.
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Please, go ahead, Kevin. Give it -- let us know what's going to happen.
HASSETT>> Yeah. Sir, you know, first of all, you might recall when we first started talking about the economic damage that was coming from the shutdown that we emphasized right from the beginning that this industry, and the travel industry, were going to be the hardest hit. And so we've been focused like a laser beam on coming up with policy ideas to do something about it and, as you said, we've got a really good plan.
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The thing I could say is that, if you look at the real time data as Larry said, that you really are starting to see glimmers of hope, and maybe even like you could even characterize it a little more optimistically than that. Larry's being super conscious but the credit card data are really going up, the number of businesses open in the country is skyrocketing. I mean the country is getting back now and I think that there's a great reason for optimism for this group because you can really see things going much much faster forward than I expected. I know you know I was pretty depressed about how bad it looked and how slow it was gonna be a few weeks ago but now you can really see it turning on faster than I thought.
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TRUMP>> Yup. It's a tremendous demand, tremendous pent up demand. It's true. Don't forget we turned it off artificially you know we just stopped. We went from the greatest economy in history of any country to "we have to stop." And we saved by doing that millions of lives. We saved hundreds of thousands, but probably millions of lives. And we did the right thing and now we have to open and now we're going to do great and if we, if this comes along what we're hearing medically from these great companies, these great geniuses If this happens, it's really, it's really going to be something.
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So, great job. Thank you. Please.
IRBY>> Mr. President, Mr. Vice President, Secretary Scalia, Secretary mnuchin. It's an honor to be here today. My name is Marvin Irby. And on behalf of the National Restaurant Association, thank you for convening this meeting, these industry leaders on this very important subject.
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To be honest with you, normally at this time I'd spend a lot of time telling you about this industry.
But what's been clear over the last several months, is that you get it. This administration gets it. You know everything about our world famous chefs, our esteemed independence, our beloved brands that dot every community in this country. And I'm proud to say that for 100 years the National Restaurant Association has represented all restaurants that play a key role in our society, and an integral role in our food chain.
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I have the opportunity that I get to speak to restauranteurs every single day. And I can confirm we desperately want to reopen. Our restaurants are just (?) and are heartbroken that at this time we can't provide the support and the comfort to the communities in which we serve.
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For too many restaurants right now, an incident happened 60 days ago, and it's crippled us, and before today's news, we did not see an end date until later this year. Programs like the paycheck protection program are an incredible first step. And thank you, secretary Mnuchin, for this program, which has benefitted millions of small companies throughout this country.
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We also appreciate Ivanka Trump's dedication to our industry. And I personally want to thank you for the time you've taken to talk to our board over the last months of this crisis. Mr. president, the payroll protection program will be a godsend if we can make one change. If we could extend the time that we need, that we have, to spend the proceeds. In too many communities today, the eight week period is simply not enough time.
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TRUMP>> So how much? How much time do you want?
IRBY>> 24 weeks?
TRUMP>> How about 30 weeks?
IRBY>> 30 weeks works. 30 weeks works.
TRUMP>> How about 75 weeks? I know a couple of you, you'll never stop, right? I know a couple of guys in this room. Now I understand, so you think it needs to be what? What would you say would be a minimum length?
IRBY>> 24 weeks.
TRUMP>> How much?
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IRBY>> 24 weeks. You need to give our smaller restauranteurs the opportunities to open, to begin to have demand, and bring back the employees.
TRUMP>> Is that what were you going to say in terms of timing?
LOVE>> Yeah, I think for the PPP fixes, if we can take it from eight weeks to 24 weeks --
TRUMP>> Is that the term?
LOVE>> Yeah.
TRUMP>> More or less the term you're thinking about?
LOVE>> And then move June 30 to October 31.
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If those two changes were made to that program, it would change it dramatically.
TRUMP>> What's more important, that or deductibility?
IRBY>> That.
>> Yes.
IRBY>> Deductibility is amazing, but it's almost like we need to build the house first. Deductibility is the thing that makes the house --
TRUMP>> Does anybody disagree with that? Because I think deductibility is the biggest thing you can possibly do. Does anybody --
>> Mr. President, I think that if you -- if what he's saying is -- if we could get the 24 weeks, which gets us to October 31, basically, right?
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This allows us to -- to get the young restauranteurs going --
TRUMP>> Yeah.
>> and spend the money that you intended for them, so that we can get out and show them what a great job you guys are doing.
TRUMP>> But you're pretty unified on the number, 24? Yeah?
>> Yes sir.
TRUMP>> 24?
>> Yes.
TRUMP>> Okay.
>> And --
TRUMP>> Go ahead, please.
>> And the best thing about it -- it's no additional money. It's an extension of the current program.
TRUMP>> Okay.
>> So --
IRBY (?) >> The deductibility thing is great --
>> Can I just add -- ?
IRBY (?) >> I just don't want to not support that.
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I think it's just a matter of waiting. We need to get the restaurants open first, and these changes allow us to get them open.
MNUCHIN>> I just wanted to clarify because you said it's no additional money. Are you saying just the time period goes -- it's eight weeks, going to 24 -- you still have 8 weeks of money or you want 24 weeks of money?
>> Oh, no, we want 24 weeks in order to spend.
MNUCHIN>> To spend the 8 weeks?
>> Correct.
MNUCHIN>> Got it. Thank you for the clarification.
>> We believe that if we elongate --
TRUMP>> is that correct? Does everybody agree with that?
>> Yes, sir.
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RODRIGUE>> If we can elongate the test period, it gives us more staying power and we can spend that money, and really get where we need to be.
MNUCHIN>> Good.
TRUMP>> And what about the payroll tax, by the way? How do you feel about that? Is that a big deal?
>> Yes, sir.
>> That would be an extraordinarily big deal.
>> Huge.
TRUMP>> And how does that compare with what we're talking about, with the time period? Payroll tax.
>> I would say deductibility, payroll tax deductions -- all those things are spectacular and we need them and they would be greatly beneficial, but we're viewing the pay -- the PPP fix as what we need to get us out of the --
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TRUMP>> So the PPP was really a big deal.
>> Yes, sir.
TRUMP>> So we hit it right. When we did it, we hit it right. Okay, thank you very much.
>> Thank you.
>> It was such a big deal, sir, that we haven't laid off a single person, and there's 20,000 people that are paying their taxes. They're paying their bills, and they're doing all that every day. And without that, I don't think we would have been able to do that, sir. That's how big a deal is great.
TRUMP>> Great.
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CHAUDHARY>> Mr. President, Mr. Vice President, good afternoon. Thank you so much for your leadership. Ladies and gentlemen, it's an honor to be here, and I deeply appreciate the opportunity. My name is Niren, I represent Panera Bread. Panera has two and a half thousand cafes, revenues of about $6 billion. And we employ 140,000 people. The pandemic impacted us very deeply, as it did everybody else.
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We lost close to 50% of our revenue in the first week. Since then, it is slowly coming back, but we still have a long way to go. Now, the health crisis --
TRUMP>> So you got down by 50%, or more than that?
CHAUDHARY>> 50 to 60% was the revenue decline.
TRUMP>> That's not bad.
CHAUDHARY>> And we're 00 -- and I think what's good is that it's actually coming back since that time.
TRUMP>> Good, good.
CHAUDHARY>> Thanks to a lot of the innovation that we've been able to do
TRUMP>> Good. So you got maximum, though, 50% of revenue loss?
CHAUDHARY>> Yeah.
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TRUMP>> How'd you keep the other 50%?
CHAUDHARY>> So, the 50% that we have, by ensuring -- so fortunately, I think, in Panera, we have very strong Omni channel business. So we have delivery, rapid pick up, drive thru --
TRUMP>> You did very well, that's great.
CHAUDHARY>> -- and so on.
TRUMP>> That's a great job. Go ahead.
CHAUDHARY>> So I think we've had to innovate very quickly. And I'll share some, some of those ideas. So, I believe that the health crisis is now becoming a financial crisis, you know, with 36 million Americans unemployed and a humanitarian crisis as well, with about 54 million Americans fighting hunger.
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And therefore, I think opening up the economy right now in a phased manner is the right thing to do. I also believe that we, as leaders, need to also step up and do the right thing at this time, and do what we can do -- what's in our control. And I'll share some ideas and thoughts, in terms of what Panera has been doing, largely with the intent to innovate and do that with compassion and heart. So for our furloughed employees, you know, we have free family meals every week for them.
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Emergency Relief funds, and also we've made arrangements with peer companies that are actually hiring at this time like CVS, Walmart to hire our furloughed employees temporarily and then return them back. For customers, we've innovated very quickly. We've launched the curbside pickup service with geofencing, and also free Wi Fi outside the cafes, because life is moving to outside the cafes, and also doing a lot for our communities, especially those impacted most by the pandemic.
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So doctors and nurses -- we're serving about 50,000 means to doctors and nurses in New York, children in the state of Ohio with our partnership with USDA. And also, we've launched a program called Together Without Hunger, with Feeding America, and have pledged to serve half a million meals to children and families through -- through Feeding America.
TRUMP>> Great.
CHAUDHARY>> So I think it's very important, at this time, that I think we need to also step up and contribute. We were able to keep 85% of our cafes open. We were determined to keep them open so that we could keep our associates employed at that time.
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And therefore, now we are beginning to open up the dining areas in phases, following all guidelines, but also have stringent protocols that we've put in place like Plexiglas barriers, wellness stations for temperature checks, social distancing norms, etcetera.
TRUMP>> Will you be keeping any of that -- I mean there are some innovations that have been made. Some people say, "maybe we'll keep it." Would you be keeping any of that or not really?
CHAUDHARY>> Yes, we -- I think this is -- there's gonna be a shift in how the consumers are going to interact with brands.
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And I think it is time for us to innovate. So, another example is --
TRUMP>> Would you ever keep the Plexiglas barriers?
CHAUDHARY>> So I think we'll keep the Plexiglas barriers --
TRUMP>> I mean, on a permanent basis, I'm talking about.
CHAUDHARY>> I think, at least over the next six to nine months --
TRUMP>> Right, but could you see that being permanent because hopefully you're not going to have it that long, by the way, nine months, but would you see a thing like that -- you'd have to build a nicer version of it, you know, as opposed to quickly throwing it up.
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But would you see something like that being permanent, possibly?
CHAUDHARY>> I think, hopefully, if the virus is under, under control and we've gotten the other side of it, I think then we can get back to life as we once knew it.
TRUMP>> You'd rather not have it?
CHAUDHARY>> We'd rather move back to life as we once knew it, right. Rather not have it.
TRUMP>> I agree.
CHAUDHARY>> Yeah.
TRUMP>> I agree.
CHAUDHARY>> Exactly.
TRUMP>> Okay.
CHAUDHARY>> Another, I think, interesting situation is that -- recognizing that there's so much high friction with high demand grocery items, where you can't get them home delivered. We launched a new line of business called Panera grocery, in 10 days.
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And we're delivering, you know, bakery items, fresh produce, dairy to customers in less than an hour on the same day. So, I think the good thing is it's forced us to really innovate and be very responsive.
TRUMP>>
CHAUDHARY>> I think the restaurant industry is deeply, deeply appreciative of all the support and the efforts that you and the administration have made. I think the CARES Act has been hugely welcomed. I would like to, in particular, thank you for the PPP program because it's made a huge difference to our franchise partners and our associates.
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I think, of a few of the amendments that we talked about, I'd fully agree with the eight weeks to 24 weeks. I think that is badly needed. I think that will be hugely welcomed. And --
TRUMP>> Steve, does that make sense from our standpoint? What do you think?
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MNUCHIN>> We're working on a technical fix that we do have bipartisan support for to extend it. I'm not sure it's that long but I've spoken to the SBA committee, and there is bipartisan support so we're working on that.
CHAUDHARY>> I think we've talked about the limited liability. I think that's also a very important aspect and thirdly--
TRUMP>> The democrats don't want to give you the liability provisions. They just don't want to have that. And it's crazy that they don't, but the democrats do not want to give that to people, and that's not a good thing.
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CHAUDHARY>> And I think the third thing --
TRUMP>> We'll get it anyway. Go ahead.
CHAUDHARY>> The -- our employees are, I think if we can eliminate the friction in the following employees being able to access the unemployment benefits that will also be fantastic. And,
TRUMP>> and that the problem there is the states have old equipment in many cases and they're unable to get the money. You know, we gave the money out immediately but the states are -- some states are unable to give it out. They have 40 year old equipment.
CHAUDHARY>> Yeah.
TRUMP>> And some states are unable to get their act together. But we gave that out long ago as you probably know
CHAUDHARY>>Yeah
TRUMP>> Okay. I appreciate it. Thank you very much.
CHAUDHARY>> Thank you very much.
TRUMP>> Brooke, Would you like to say a few words?
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ROLLINS>> Mr. President, thank you. Just a few words I am -- I am so grateful for all of you being here today. I am struck by the stories of true American dreams. I mean, starting at 3.45 an hour and then ultimately owning so many restaurants and hundreds of thousands, but I'm also -- hundreds of thousands of employees. But I'm also struck by this President and Vice President's commitment to our most vulnerable populations and their American dream and their American dream working in all of your restaurants.
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This President is the jobs President. I think that none of us, other than maybe my boss realized the economy that we would achieve in just three short years where there were more people, more jobs available than people to fill them. And what I am so encouraged by is the resoluteness and the conviction of this president, this vice president, but -- but truly the American entrepreneurs that are sitting around the table today, and working alongside all of you as we bring this country back to even greater heights than we ever knew possible. The transition to greatness is -- is really what America and the American Dream is all about.
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So thank you all for being here. Know that we are here to help you always and we are here to make sure that what this president lead on and has achieved will be once again, very very soon so thank you Mr. President.
TRUMP>> Thank you very much, Brooke. Great job.
LOVE>> Thank you, Mr President, Mr. Vice President and secretaries for having me here today. My name is Tim Love, I'm a chef and owner of a few restaurants in Texas and Tennessee. I also am the chef of four major music festivals and food festivals around the country.
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So, I've been greatly affected by, obviously, what's happened here, along with everybody else in this room. But I wanted to speak to you about today's that -- to touch on the PPP and to kind of clarify what we're saying is the 24 weeks is only set up because certain restaurants aren't able to open now. In Texas, we're able to open on May 1, and I quickly activated the PPP and tried to get employed back. I've hired 80% of my workforce. I started with 490 employees, we've got about 400 employees already back.
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And I will say: it's encouraging to see people come out. They're excited, they want to be out --
TRUMP>> What would have happened if you didn't have PPP?
LOVE>> Well, if I didn't have --
TRUMP>> Would you have survived it? Would you have gotten by?
LOVE>> Probably would've gotten by, but this allows us to do it the way that we feel like it should be -- to take care of the employees first. We want to take care of our employees, and make sure they're safe. Same -- same activation we're having open the restaurants. We want to open the restaurant safely, make sure our employees are safe first, so our guests can be safe.
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I'd ask, from the administration, to put out that confidence, to get the American people understanding that it is great to go out and that our economy is going to be great again because we know where it was before it started. We know how to get there, clearly. So now, just with a couple of adjustments to things that are already written -- to the Secretary's point, we don't need -- we're not asking for more money. We're just asking the opportunity to spend it the way that you want us to spend it, the way it was intended -- to take care of our employees when we're able to open up.
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That's it.
TRUMP>> That should be easy, Steve, honestly.
>> Yes, sir, Mr President. I think, I think you can take care of that for sure.
MNUCHIN>> [inaud] process.
TRUMP>> That should be easy.
LOVE>> And so --
TRUMP>> That's like one of the easiest requests I've ever heard, Larry (?).
Love>> But that -- that leads me to my next requests. [laughter] The 75/25 -- the way that it's spent, I know it's tough, but I'm speaking for my friends who are in New York, not necessarily for myself, even in Texas where the rents are higher.
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And they need the ability to spend the money on rent, if necessary, so long as they're hiring their employees back. So, while the number one thing is to get the workforce back, reduce unemployment, get people back to work which is what I'm doing at 25%. Believe me, I'm not going and building new houses on my 25% of occupancy. But what I am doing is putting the great American people back to work that I love, and the way we get the economy going is getting the workers back to work so they're able to spend money and earn money. So, therefore we can keep the economy moving.
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And so those two adjustments to the PPP which -- which, you know, don't require any extra money from the administration, from Congress allows us to really move the economy forward, which I know is one of your number one things, especially as we're moving along this year. And I think you can get a lot of people in our industry -- the workers -- that people work very, very hard to get behind you, just to show that kind of confidence.
TRUMP>> I think you will. How many restaurants are there total -- everything in the United States? How many are there?
>> [grumbles]
TRUMP>> How much?
>> 650,000
TRUMP>> 650,000 restaurants. Who would -- ?
>> [inaud] 11% of the United States (?)
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Who would think that's 11% of the overall? 650,000 restaurants. Who would ever think that's possible, even? Right? That's good and it's been a great business over the years, and it'll be better than ever.
LOVE>> And it'll be 650,000 again so long as you keep doing what you're doing, sir.
TRUMP>> That's fantastic, though. Yeah. No, I think deductibility gets that. Actually, I think you'll --
LOVE>> I would agree with that.
TRUMP>> -- go up very substantially. They got rid of a lot of restaurants when they ended that -- people don't realize that.
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Then you get -- you still get fewer restaurants. They rent it to other things. Now, I don't know what they're going to rent to --
LOVE>> And to your point about that, sir. The deductibility which you can easily identify with and it does spread wealth amongst restaurants, most definitely. We're talking just about an immediate concern with the PPP to get people moving forward --
TRUMP>> Yeah.
LOVE>> So that it gets --
TRUMP>> I -- I agree.
LOVE>> -- the deductibility going.
TRUMP>> No, I agree. We'll -- we'll look at that very strongly.
LOVE>> Yes sir, thank you.
TRUMP>> Okay.
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FERTITTA>> Hello Mr President, and it sees how important this is to all of y'all, this subject because I haven't seen this much firepower from all of y'all except at a steak dinner or a Christmas party so I appreciate Mr. President, that all of you guys are here because I know you're really trying to get something done. I own a company Landry's which is in 40 states, and is all full service restaurants, so I average like 150 employees per restaurant.
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And it's everything from Dell frescoes to (?) to palm but then it's on the other side the Bubba Gump, the rain forest and they're all company owned. This, it's been devastating and it's, you know it's funny you brought up about China I should have realized it was going to be a bad year for China when my general manager tweeted out, you know freedom for Hong Kong so that started my year. (laughter)
TRUMP>> And you kept it quiet.
FERTITTA>> So, so I'm still trying to work that out. And here comes something else.
TRUMP>> He owns the Houston Rockets, in case you didn't know. And by the way, he's a great guy, great everything, and yeah, he did cause you a little ruckus. Whatever happened to him by the way? Is he still working for you?
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FERTITTA>> Yes, he is.
TRUMP>> He must be pretty good.
FERTITTA>> Because it's -- It's a trick question. But he is. (laughter) So, but but but Mr President. Everybody's talking about the PPP and when, when your team designed the PPP and said let's bring it through, through the SBA I think it was an unbelievable idea and you did exactly what you needed to do.
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But I'm one of those people when it started being pitted against because I'm a sole proprietor, but I do 4 billion in revenue, and I would have been that billionaire that took the money from the little business. So, I was not able to take the PPP money. And I caught so much criticism because I was the first person who did lay off 40,000 employees, because the world doesn't understand that when you shut everything down from your casinos which you and I did a few deals together from the rainforests to the Trump Marina.
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Your tale of your payroll was 150 million dollars the next two weeks and we all pay --
TRUMP>> That's right.
FERTITTA>> -- yesterday's bills with today's income and, and I wanted to put 40,000 people back to work May the first, but couldn't take the criticism and even from the administration there was some that bigger companies shouldn't be taking this money.
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But, but I don't have the ability to put those 40,000 people back to work. So, I just wished that, don't add any money, but just divide it up.
TRUMP>> So you're saying that because your restaurants aren't split up among thousands of people that own restaurants, and you have it yourself, the company --
FERTITTA>>Yeah, that it would have been one person taking this money, but your team specifically wrote the bill for any restaurant under 500. It -- this was for the restaurant business, which is only gotten 9% of the money.
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But if you would just split it up and I'm not saying add any more money, but add a category for the larger private restauranteur that could go out and take this money and put it in a different bucket so it wouldn't be me taking this money away from the little beauty salon --
TRUMP>> So what happened to you then? Tillman so where are you on that whole thing how did you do with the PP? How do you, how did it work out for your company?
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FERTITTA>> I took the money and sent it back and did not spend $1 of it because as --
TRUMP>> Because they found that you're very rich, and they said, what the hell.
FERTITTA>> You know what, but also was the first person that opened the leveraged finance market and went and borrowed 300 million --
TRUMP>> Yeah.
FERTITTA>> -- at 12%, where just three months earlier borrowed at 3% because I needed that liquidity, to keep the company afloat.
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TRUMP>> So so what did you do? You went out very early right for the money? And you've, you found the market, it was open, even at that early date.
FERTITTA>> Yes I borrowed 300 million to add to liquidity but I still, it wasn't enough to to hire back all my employees which I would have loved to have done with the PPP.
TRUMP>> What do you do with your basketball players that are making 25 million a year?
FERTITTA>> I have two of them that make 40. Russell and James.
TRUMP>> By the way, they are good players.
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FERTITTA>>They are good but they yes they are getting paid which --
TRUMP>> Could I ask --
FERTITTA>> -- Bargaining Agreement, and that's why --
TRUMP>> Tillman, what's going to happen with basketball? Could you give us a because I would be interested. You have any idea what they're doing?
FERTITTA>> Yes, yes. So I think what they're doing is is waiting to see what happens in certain states and if we're going to be able to play, making sure the virus continues to go in, in the right direction in the next few weeks.
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And -- and I think that if things keep going the way that it's going I think the NBA, the commissioner Adam Silver, who has done an unbelievable job through this, and the 30. The owners I think will make the decision to try to start the season up again.
TRUMP>> Will you finish the season, or not?
FERTITTA>> I think that there's talk about finishing the season, playing X amount of games, the players need to play to get paid and right now they're taking a 25% pay cut. And because they -- they own 50% of our revenues, the players, unlike the other sports.
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And so they -- they want that revenue and that television revenue, even if it's not the people in the stands revenue, so they can get paid.
TRUMP>> Could you go immediately to playoffs or is that not really possible?
FERTITTA>> I think that they would use the -- I think that we would play some games just to get it going again.
TRUMP>> I agree.
FERTTITA>> --And to create the interest, and then go right into the playoffs, but I think it'll be great for America. We're all missing sports and everybody, you know, wants to see these great NBA teams but --
TRUMP>> Good luck with it.
FERTITTA>> Thank you, but just create a category for us, Mr. Secretary.
TRUMP>> Steve, what do you think about that? I mean he's got a unique situation. You know, he has a lot of restaurants, it's a big company but you know--
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FERTITTA>> I can't pay them --
TRUMP>> you have other people where the company is the same size but you have 2,000 owners. What do you think of that?
MNUCHIN>> Well, it's a complicated issue,Mr President, as I said before --
TRUMP>> It's complicated.
MNUCHIN>> We didn't anticipate the Los Angeles Lakers who I'm a big fan of would be taking a PPP loan. And as a result of that, there was a lot of backlash around it--
TRUMP>> Who paid it back? I'm saying that for the media. They --
MNUCHIN>> We went through the certifications and again, we realize the issue, how it impacts your workers and we're sympathetic to that.
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This was a program for companies that were not necessarily quite as big--
TRUMP>> But this is different than the Lakers. The Lakers are a basketball team. This a man that owns many -- how many restaurants do you own?
FERTITTA>> 600 restaurants, but they're all full service restaurants. You know, I have 60,000 employees and you don't have the ability -- ability to pay them.
MNUCHIN>> I'm happy to follow up with you. We don't need to have this in front--
TRUMP>> But it is interesting for the press to hear because they understand the complexity of it.
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So, if he had 600 owners and he franchised them out or something -- but he had 600 owners, they qualify. If he has -- you know, if he owns it, it's a different situation but I can understand what he's saying. So let's take a look at it.
FERTITTA>> And then just one more thing. If we could just do something with lease terminations because, like, I'm the largest operator in New York for full service restaurants. And the million dollar leases -- let them protect their rights, the landlords --
TRUMP>> What's your largest restaurant? What is it, in New York?
FERTITTA>> Del Frisco, Mastro's, Morton's, the Strip House, Bill's Burger in Rockefeller Center.
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You know, Dos Caminos.
TRUMP>> Yeah.
FERTITTA>> You know, on and on. So, but -- but, if we could just --
TRUMP>> Good job you've done. I mean you got hit by the plague. [FERTITTA LAUGHS] Right? But outside of that, you've done a hell of a job.
FERTITTA>> Just trying to keep up with --
TRUMP>> It just brought you back to Earth a little bit.
FERTITTA>> We were definitely brought back to Earth. [laughs]
TRUMP>> You really have. You've done a fantastic job. Hey, you're a friend of mine for a long time.
FERTITTA>> Thank you sir.
TRUMP>> And I have to say, you paid me rent for a long time. Right?
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FERTITTA>> Absolutely, and never missed a payment.
TRUMP>> And you were never late. And now --
FERTITTA>> You're a tough landlord.
TRUMP>> No, you're a great -- a great gentleman, really a great gentleman. Steve, it's an interesting case. Okay? Do the best you can. Good luck with the basketball.
FERTITTA>> Thank you, sir.
TRUMP>> You have a hell of a team.
FERTITTA>> And thank you all of you --
TRUMP>> Say hello to those two great players -- all of your players but, and man, they are -- they can play.
FERTITTA>> They can play.
TRUMP>> So you say they make 40 a year.
FERTITTA>> Russell and James both make 40 million a year, and they were still getting paid. So a lot of my employees really wanted that PPP money.
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TRUMP>> You want them -- you want them to play this year.
FERTITTA>> Yes.
TRUMP>> How many more years do you have together? Right, so you --
FERTITTA>> I have both of them for three more years.
TRUMP>> You want them to play this year because magic can happen, right?
FERTITTA>> Absolutely, a little magic and --
TRUMP>> Good luck.
FERTITTA>> -- all of the sudden, you get a big ring.
TRUMP>> Good luck. Thanks, Tilman.
FERTITTA>> Thank you, sir.
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KUSHNER>> I just want to thank everyone for being here, it's been incredible to watch all the innovations that you've been doing in your business models to give more confidence to the public to get open. The President identified this very early as a critical industry for us to focus on for a few reasons. One is you're a major employer there's a lot of people who are hurting right now because the restaurant industry is closed but also you're a gem of America.
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People love getting entertainment and enjoyment from the great work that you do so, this has never really been an issue before because the restaurant business has never been closed before for a period of time. So this is truly a unique historical situation that's occurred and you know we're all in this together to try to figure out the best way back. But the quicker that we can help you figure out how to get demand up the quicker you can hire back employees and we can get Americans back to enjoying all of your fine establishments so thank you for all you're doing. And thank you, Mr President, for your leadership.
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TRUMP>> So you know, Tillman, he took a ventilator job, where the country basically had no ventilators, essentially, and built an incredible empire for building ventilators in a period of very short time. And now we're supplying ventilators all over the world. It's an amazing thing. We got no credit from the fake news media, but what are you going to do? Can't win them all. And now the testing today in the Washington Post, they actually had a headline that the testing is there but the people aren't there. We have so much testing.
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I'm sure the person that drew that headline in the Washington Post will be fired today sometime.
>> In the state of Texas I know for, for six weeks, any employee of mine could go to numerous places and get tested, and not even stand in line. So when I'll watch and see everything that people cannot get tested in America -- and I don't know about all the other states, but I do have employees that have been tested in other states. I just follow it closer. There has not been an issue of people getting tested.
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TRUMP>> And, you know, they sort of knew it, but --
>> And we were even tested here this morning. (laughter)
TRUMP>> See I think he should be entitled to that now, Steve, definitely. But, no we've done -- really it's been an amazing --
>> 100%
TRUMP>> -- an amazing job, been an amazing job. We made a lot of Governors look good.
KUSHNER>> and Mr President, I will say, yesterday, you had your number one day in America 422,000 tests performed and you're about 11 and a half million tests performed now in the US thanks to your leadership.
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TRUMP>> Numbers that would have been unthinkable, I think you could say that, right? Numbers that would have been - John, those are the numbers that could have been talked about nobody would have believed it. So anyway, you know, So, please.
FEENEY>> Mr. President, like yourself I'm a New Yorker, and a career changer. I was a former bond trader at Goldman Sachs and now I own restaurants in Brooklyn, most notably Lilia, and Missy in Williamsburg. We help make everyday a good day.
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Along with Thomas, and Will, we're founding members of the independent restaurant coalition. And we're grateful to have a seat at this table for the first time. The impact catalyzed by this pandemic is enormous, the prolonged economic shutdown created challenges for our industry that has to be met with policy to inject liquidity, investment, consumption and hiring. The immediate and coordinated response by your administration to support out of work employees, was inspiring. And it should make us all proud to be Americans.
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The intention of PPP to support small businesses and restaurants, was pragmatic and encouraging. We have all agreed that it wasn't perfect, but we're working on it, to fix it so that it could help us. But we need those fixes now, like me, I have it, I can't use it. I'm in the clock zone of eight weeks. PPP is a bridge --
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TRUMP>> So, do you agree with what they're saying in terms of timing?
FEENEY>> Immediately. It must happen.
TRUMP>> And you agree with the 24 number?
FEENEY>> Yes, absolutely.
TRUMP>> Did you guys meet before this or something? No, did you have a little meeting to discuss this perhaps? Yeah, okay.
FEENEY>> We --
TRUMP>> Now I feel better because everyone knows exactly the same thing.
FEENEY>> What is, what is incredible about this independent restaurant coalition. This did not exist seven weeks ago, restaurant owners didn't talk to each other. Ever. And we --
TRUMP>> I bring people together. You've seen that in government. I bring the democrats together with the republicans right?
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FEENEY>> And it was -- it's been a beautiful thing.
TRUMP>> I'm only kidding.
FEENEY>> We've been able to, we've been able to talk. We've been able to be creative and figure out ways to bring this industry back --
TRUMP>> That's great. I think it's great if you got together and a lot of good suggestions have been made and it's been made uniformly so we really know your opinion as opposed to having all different ideas.
FEENEY>> That's correct.
TRUMP>> That's really great. That helps.
FEENEY>>So PPP is a bridge that will help restaurants reopen our doors. It'll help restaurants reemploy 11 million workers that are currently not working. In an effort to keep those doors open, and to keep our people employed, we propose a stabilization plan, and we look forward to discussing more in the future with you.
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TRUMP>> Okay.
FEENEY>> Thank you very much.
TRUMP>> Thank you. Great. How did you go from Goldman Sachs to the restaurant business, how did that happen?
FEENEY>> David Solomon didn't think I was very good at Bond trading.
TRUMP>> I'll bet you were. I'll bet you were very good. Are you glad you made that move?
FEENEY>> I am. It's changed my life for the better on every, every --
TRUMP>> So you love the restaurant business, right?
FEENEY>> I love it.
TRUMP>> I have friends in the restaurant business, they love it. They love the -- there is no business they want to go into.
FEENEY>> We view you as one of us.
TRUMP>> Yeah.
FEENEY>>We do.
TRUMP>> Well, it's true.
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TRUMP>> Yeah, no, it's great. I know your business very well. People. Unlike -- well, you know there are other businesses but just about as much as any business they love being in the restaurant business so that's great.
FEENEY>> It's good to get out --
TRUMP>> So you made a good move.
FEENEY>> Oh yes.
TRUMP>> Did you make a good move financially?
FEENEY>> I did very, very well.
TRUMP>> It worked out fine too.
FEENEY>> Our restaurants are more profitable than the hedge fund that I worked at for seven
TRUMP>> Wow that's fantastic.
FEENEY>> Yes.
TRUMP>> Now we don't have to give them anything.
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FEENEY>> But -- but I want to go back to that because I want to reopen as soon as possible.
TRUMP>> Yeah, no, I agree with it. Okay, good, good job too. I know the one restaurant I know is great.
FEENEY>> Thank you very much.
TRUMP>> Gene. This is a man of great genes. His name is Gene and his father was a terrific gentleman. You know that right? Great talent. Go ahead, please.
SCALIA>> Great Mother too, right?
TRUMP>> Maybe your mother's even better.
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SCALIA>> Well, there are few industries where the workers have been hit as hard as in this particular industry as Will was touching on. We announced 20.5 million payroll job losses, basically from the middle of March t the middle of April, and 5.5 million of those, more than a quarter, were in restaurants, Mr. President. You saw this coming. You acted with really extraordinary extraordinary speed and I think as we said, generosity, among other things in the unemployment benefit that was provided in the cares act. We at the labor department have been working extremely hard with the states to enable them to make that payment.
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As you touched on they've had -- they've had some problems because their computer systems which are old, Secretary mnuchin, I cautioned the Congress that there would be problems but we will continue to work with them to get those payments out, but -- but even as we do that, we know that we're pivoting. We're opening. We're reopening across the country. It's -- it is -- there are glimmers and more than that, as we begin that reopening and so we will be focusing too on helping workers transition from unemployment back onto the job and you hear a lot of numbers. A number that really sticks with me is a couple different surveys have shown -- federal surveys have shown that 90% of workers who are unemployed right now have said, it's temporary.
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And I want to make that right. I want to make that true. That's why, Mr President, you want to safely, but -- but promptly reopen and so we'll continue to work with --
TRUMP>> That's a very important number.
SCALIA>> 90%
TRUMP>> If you go into a real big recession and, you know, have a number like that, that's a tremendous number. It's really a great -- it's -- it's a testament, because again it was artificially turned on and off. But now it's off and we're going to turn it back on, it's been turned on. As of, I don't know it almost feels like today's the first day. I think last week didn't feel the same, now it feels good. People are starting to go out. They're opening, they get it.
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We understand the disease much better than we did when it first came in, nobody understood it, nobody's ever seen it before. And it feels much different. I mean, Today is almost like the first day, but the expression that we like to use, right? Transition to greatness. We're going to be back, and what you said is a very important thing. People expect to go back.
SCALIA>> And by moving quickly, but safely, we get them there and I had discussions with several of you about -- about safety. We're very focused on that at the Labor Department, giving workers and I know you're focused too on getting customers confidence as they return and we'll -- we'll continue to work with CDC and others to help on that front.
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TRUMP>> And Gene, you have to help the truckers also.
SCALIA>> We've been talking about the truckers. Mr. President--
TRUMP>> Because they've been out there and I'll tell you. They're -- they work hard and they have brokers that take a lot of their business away. They don't work so hard. They sit in an office someplace. It's not good. So I'd like to help the truckers.
SCALIA>> Elanie and I've been talking about that.
TRUMP>> Alright? Good, please.
KELLER >> Mr. president. Secretary Mnuchin, Vice President Pence, secretary Scalia, thank you for having us here today. Of course I'll echo what everybody else has said about how proud we are to be sitting here at the White House in your home, to be able to share some of our struggles and hopes and aspirations.
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The restaurant profession is a profession that's always dynamic and you've seen that around this table with some of the things that my colleagues are doing, but we're also very united. As you've seen, and you just responded to the 24 weeks. Did we have a meeting before? Certainly we had a meeting before. Did we talk about it, sir? We talked about it, because we want to be unified in our approach whether you have 650 restaurants, two restaurants, six restaurants thousand restaurants, it doesn't really matter we all are nurturers at heart. And we want our restaurants to reopen so that they can nurture our guests, our communities. And finally, our country.
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There's something to be said for going last because I just want to agree with everything that everybody else has said around this table. So I won't -- I won't repeat it and bore us with -- with more of the same, but I will tell you a story, a personal story, two personal stories, if I may, one about the PPP and thank you very much because it's been a lifesaver In many ways for me. I have restaurants, of course where I have not been able to use the PPP yet, but I also have --
TRUMP>> And why is that?
KELLER>> Because we can't open yet, and there was no point of me hiring back my staff.
TRUMP>> Where was that? Where?
KELLER>> California, New York. Las Vegas, and South Florida.
TRUMP>> I mean I hear they're gonna keep Los Angeles closed till the end of August, is that a fact?
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KELLER>> That's a good question. I'm -- I'm in Napa Valley, but I'm not really sure about Los Angeles, I'm sorry. Yeah.
TRUMP>> That's the mayor who wants to do that. That's a death wish. Because you know there's death on both sides. You know that. There's death on both sides. It's not just a one way street. And we solved a big problem, but you have to understand the other side of it too, and they don't understand the other side of it. Okay, please?
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On the other hand, our consumer product division where we have four different businesses, has been thriving. And we have taken our ppp money, and we hired 100% of the staff in those four companies so I look at that and I'm extremely thankful and grateful for all the work that you and your team have done so quickly to help us on our restaurant side I echo what everybody else says. It's a little more, more complicated. I also want to thank you for voicing your support of big, which is our business interruption group which started with a couple other chefs, and has grown quite large, and we've started to make some inroads with -- with the insurance companies.
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With some of the congressmen and some of the senators so we continue to work on that for all businesses, not just for restaurant businesses. Finally, I want to talk about a small farm in Orwell, Vermont. A small farmer named Diane St. Claire who is by herself with her husband. And this is about the supply chain and how important restaurants are in -- in so many different aspects. Reduce it down to individuals that we know, that we love, that depend on us, as -- as restauranteurs and as chefs. It's a woman who has eight cows, who gets up every morning seven days a week to milk her cows,
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Let them out to pasture, begin to make her butter, bring her cows back at four or five o'clock, milk them again and put them to bed every day. I am -- I am the sole source of her revenue. She's not able to sell her butter anywhere else. So she's not making butter today. The impact that restaurants have in our -- in our communities, in our states and in our country are extraordinary. We are in many cases the first job people have.
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My first job was in a restaurant as a dishwasher making a little less than 3.50. But that was because of my age, and being able to move up. We are the -- we give people the second chance in restaurants, and finally people's last jobs are in restaurants. Those who are retired and on -- and on benefits -- are augmenting their benefits by working in restaurants. We don't really care about your education, we're not concerned about where you come from, your religious beliefs. We are open to everybody, we employ the most women of anybody besides the federal government, the most single parent women.
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It's just extraordinary how, how much we embrace our entire country. And what we do. And what we do at heart is we nurture. I became a chef, and I remember the day I decided to become a chef. I'd been cooking for several years, July in 1977 in Narragansett Rhode Island working for a French chef named Roland Henan who asked me one day "Why do cooks cook?" And I was certainly intimidated. I was young and as a chef, I don't know, why do cooks cook?
154729
He said "we cook to nurture people." And there was something inside of me that that resonated with and I embraced the idea of nurturing people and I have 1200 employees. There are over, 1180 who are unemployed today that I desperately want to bring back to work so that we can not only nurture each other but nurture those who come into our restaurants. Again I want to thank you for, for having us here today, I want to thank all my colleagues for for articulating everything that we wanted to say in such a profound way. I appreciate the opportunity so thank you Mr. President.
154806
TRUMP>> Thank you very much. Beautiful story of the woman with the 8 cows.
KELLER>> Yup.
TRUMP>> I think that -- restauranteurs do especially I guess, some with an individual restaurant or a couple of restaurants, they do that a lot, don't they? They buy directly.
KELLER>> They do, yeah. We support so many small farms around the country. I started an initiative called big hearts and small farms with five other chefs just so that we can offer people an opportunity to buy some of the some of the food from some of these small farms around the country.
TRUMP>> Tillman doesn't do that. I don't think you do that with your eight cows, right? (laughter) He doesn't know.
KELLER>> It's [laughter, cont.] a little different, but -- It goes from the very small to the very big, and that's what restaurants are all about. And I'm proud to be part of this community.
154851
TRUMP>> What's the difference in butter? Tell me the difference in butter between what she sells you and what you would normally be able to buy, out of curiosity.
KELLER>> I don't want to -- It is extraordinary because it is truly, truly a seasonal product so the butter changes flavor and color depending on the season, so in their early -- in the spring when they're eating green, when they're grazing on grass, green grass, the butter --
TRUMP>> That's fantastic.
KELLER>> -- a beautiful orange hue.
154913
And of course, in the summertime, it turns lighter because they're eating hay. And so --
TRUMP>> Mike just said, "There's no comparison." He knows. [laughter] He knows. He's from Indiana.
KELLER>> There's a -- there's a tremendous difference in the butter from --
TRUMP>> [inaud]
KELLER>> Oh.
TRUMP>> And you probably pay less too, right?
KELLER>> Well, I don't know how much I pay. It's not about how much I pay, it's about supporting her and what she's trying to do.
TRUMP>> Right, but would you pay less, generally speaking, when you do those things -- you deal directly with the farm?
KELLER>> You know, I -- when we deal directly with the farmers, I never talk about price. It's always about quality, because we're about quality and building relationships with people building, building --
154948
I've been buying Diane's butter for over 20 years.
TRUMP>> No kidding.
KELLER>> She, she did tell me one time -- I'll tell you the story again, if I can -- that she had to raise the price of her butter and I said " Diane I really don't know how much your butter costs but I appreciate you telling me this," and she says, "but I also want to tell you why." And I said, "Okay, tell me why, Diane." She said, "my son was accepted at NYU, and I need to pay for his tuition." [laughter] This is what happens when a guest goes into a restaurant and spends $1.
>> That's right.
KELLER>> You're supporting all of these people.
155017
You're supporting this young man who's going to get a degree from NYU. Do I -- should I, should I, you know, negotiate with her on price?
TRUMP>> Yeah.
KELLER>> No.
TRUMP>> I think it's great. Thank you very much.
KELLER>> Thank you.
TRUMP>> Beautiful. Okay, Mike. Well, I think the media wants us to go quickly.
PENCE>> Yeah.
TRUMP>> I think Jon is -- [inaud]
PENCE>> I'll be very quick.
TRUMP>> Everybody wants to hit us with a question so bad.
155037
PENCE>> Well, thank you, Mr. President, and I have had the great privilege of sitting in this room, alongside the president, on many occasions over the last three and a half years. I don't know that I've ever been more inspired by the optimism, the resilience, the love of what you do, and the people that you employ and the people that you serve than I've been today. So, thank you all for sharing your stories.
155105
The President has brought together here the -- our topic economic team: secretary of the Treasury Secretary of Labor, all the people that have been involved in standing up the whole of government response. But from the standpoint form the White HOuse Coronavirus Task Force, let me just say thank you. This industry, 650 thousand restaurants strong, had to make very very hard choices. I want to assure you, you said, Sean, that you will consider the president to be one of you.
155135
And I can tell you, my friend considers himself to be one of you. And he always will. And, but he understood when we asked the American people, and we ask businesses like the thousands represented here to shut down, to go to drive through services, to find ways to innovate to meet your customers we knew the sacrifices that were involved in that.
155201
The President directed our economic team to find a way paycheck protection to stand up and come alongside, but your decision, your company's decisions put the health of your employees, the health of your customers, the health of your community first, saved lives. And you are to be commended on behalf of the President, and all of us who've worked, seven days a week on this issue here at the national level I want to say thank you.
155227
The President are going to dismiss in a few minutes and we're going to go to our weekly call with America's governors, and I'm proud as the president is, that as we sit here today 48 states have announced plans to reopen. It was a month ago the president had our task force release a plan to open up America again. And America is opening up. And I just want to assure you that the counsel that you have given us today will continue to inform ways that we can support not just this industry and the communities, but support your states efforts to safely and responsibly reopen and put America back to work.
155304
One last thing, Mr President. One of the great success stories of this pandemic has been that the food supply has not been interrupted. And I honestly didn't know, Mr President, before we got into this, but roughly half of America's food needs are met in restaurants, and in those 650 thousand establishments that we were talking about here today.
155329
And through this pandemic, not only did you innovate, you found ways to continue to meet that food need of -- keep food on the table of Americans. But I also heard just a week ago that it was restaurants that were transferring what you had in storage to your local grocery store, to your local food banks to make sure that Americans didn't miss any meals in the course of this pandemic. So for all those reasons I say thank you and just know that in this president and in this entire team, we are going to be partners with you and we're going to bring back America and all of America's great restaurants bigger and better than ever before.
155406
And it's going to be sooner than you think.
TRUMP>> Mike, what are the two states that did not open?
PENCE>> 48 states have released plans. There's two that we expect them to be releasing plans very soon.
TRUMP>> Who are they?
PENCE>> I'll get that to you before we talk to the governors.
>>(inuad.)
TRUMP>> Is Connecticut?
>>(inaud.) . restaurants there, can't do anything.
155430
TRUMP>> It'll open. It'll happen quickly. So just briefly, the paycheck protection program has delivered over $30 billion in aid to more than 250,000 restaurants, up to 95% of that funding is going directly to the workers payroll, you know. On Friday the SBA published the loan forgiveness application which ensures that all businesses including restaurants will not be penalized as long as they make good faith efforts to rehire all of their employees. You know that.
155500
I signed a bill providing federal funded pay to sick people. People that are sick and for family leave so you have for sick and for family leave and that's a very important bill so you have federally funded paid sick and family leave. And I think some of you are taking advantage of that. Businesses can defer paying income taxes until July 15th. We gave that extension. Businesses can claim tax refunds by deducting their losses from the 2018 through 2020 against taxes they paid for the previous five years.
155535
That's a big deal. And then, as you know, we're going to congress and this is more pertinent to what we're talking because you knew all of what I just said. You've been living through it. Restore the restaurant deduction to help jobless restaurant workers so if a company pays or if somebody pays they get a deduction. That's gonna create a tremendous amount of business. I think you're gonna have to open a bunch of additional restaurants in this country. I think it's frankly more important than even the other things we're talking about. You got a short term which you're talking about is more important, but long term, the deduction would be phenomenal. Create and explore America. That's "explore" right. Explore America.
155614
Tax credit that Americans can use for domestic travel including visits to restaurants. That's a big deal. Grant restaurants more flexibility under the PPP. That's what we're talking about, right? And protect workers and businesses alike with curbs of frivolous litigation -- frivolous litigation. A thing I know something about. There's a lot of frivolous litigation. So we don't want somebody going and sitting in your restaurant, Tilman, and then suing you for 10 million dollars because something happened. Now they'll do it anyway. No matter what we give you, they're going to do it anyway. You know that. So I thank you all for being here. We'll take a couple of questions. Jon, and if you have any questions for these great restaurateurs please ask.
------
Q&A
155655
JON KARL>> Mr President, Attorney general Barr says he is unlikely to have any criminal investigation of either Barack Obama or Joe Biden. You've been talking about -- you called it the greatest political crime in American history. What do you think of Mr. Barre's decision?
155709
TRUMP>> Well, I think if it was me they would do it. I think for them, maybe they're not going to, I don't know. I'm surprised because Obama knew everything that was happening. I don't think Barack Obama does where he, you know, is in a lot of ways. I saw his statements the other day and I think that frankly they weren't very good, it's president obama.
155727
As far as Biden's concerned I can't -- that I can't tell you. Only he knows what he knows. I don't think he knows too much. But I think Obama and Biden knew about it. They were participants, but, so I'm a little surprised by that statement. I don't think he said it quite the way you said it. I think he said it as of this moment, I guess. But if it was me, I guarantee that they'd be going after me. In his case, they're not so -- I think it's just a continuation of a double standard. I'm surprised by it.
155755
I'm surprised by it but that's where it is and I don't know what he said about those. You have to understand I was coming into this room as that statement was being made. So I'm --
JON KARL>> Something interesting he said, "we cannot allow this process the legal process to be hijacked by efforts to drum up criminal allegations investigations of either candidate." You seem to be suggesting --
155817
TRUMP>> Well, I think you'd have to ask him what that means, because I'm in no position to tell you that. I've stayed away from it. I'm relying on the Attorney General to do the job. And so I don't know exactly what he said because I was in this room.
JON KARL>> Will you be disappointed if there is no criminal investigation of Biden or about --
TRUMP>> I don't know about being disappointed or not.
155834
But I have no doubt that they were involved in this hoax. One of the worst things ever to befall this country, in terms of political scandal. I have absolutely no doubt that Obama and Biden were involved and, as to whether or not it was criminal, I would think it would be very serious. Very, very serious. It was a takedown of a president, regardless of me -- It happened to be me.
155906
And in my opinion, it was an illegal takedown. And, but I'm gonna let the Attorney General make all of those decisions. I've stayed out of it because it's the appropriate thing to do, I wouldn't have to stay out of it, as you know, but I've decided to stay out of it. So, I would say that I heard that just a little while ago, a few minutes ago. I'll have to look at it exactly, as to what was said, what was meant. I will say this: we have an honorable Attorney General. He's going to do an honorable job. He's a very honorable man and he's going to do a very honorable job.
155939
But I am surprised only in that I have no doubt -- personally, I have no doubt, but he may have another feeling. I have no doubt that they were involved in it. It's a hoax. It started off with a Russian hoax. They went to a Ukraine hoax. It's just a whole big disgrace. And this country has better things to do. It's a disgrace. That they've done to this country with these phony investigations -- the Muller investigation was a waste of time from day one.
160009
They knew it was a waste of time. It proved to be a waste of time. I think there are a lot of bad people involved and they should pay a very big price, if they were caught. So we'll see what happens but I rely on the Attorney General. He's a very honorable man. Okay, any other questions.
160025
Q>> Do you agree with Peter Navarro who said the CDC "let the country down" in terms of testing?
TRUMP>> I think they work very hard. Don't forget, they've been here for many years. It's not -- they don't work for me. They work for the country. They've worked very hard. We, when we took over -- in terms of, you know, getting involved -- Mike headed up the task force. He worked with CDC, and I could ask Mike to give you part, you know, part of it but I will say: they -- originally, they had no tests and one of the tests had a problem very early on.
160059
But that was quickly remedied. And now, we have the best tests anywhere in the world. I think we -- I give ourselves a lot of that credit. A lot of the brilliant people that worked on testing, a lot of their brilliant people that work on a ventilator to the point where we have the best testing in the world. We have the best ventilators and distribution, and the most ventilators in the world. It's not even close. So I can't -- I would like to ask Mike that question. CDC, you work with them all the time. Certainly, much more than I do, Mike.
160125
PENCE>> We do, Mr. President. And let me say, I think -- I think Peter Navarro's point was that CDC and our public health labs at the state level were operating with an arcane testing system. And it was one of the reasons why, early on, we brought in all of the commercial labs around the country. The president created a consortium with these commercial labs, and we in reinventing testing in America.
160155
And that's the reason why, at the end of February, we had done a total of 8,400 tests at that time, using state and public labs and the CDC labs. But because of the president's efforts with, basically, innovating testing in America, we've now reached 11 million tests. I think you heard the statistics. More than 400,000 tests yesterday. And we are actually hearing, as the president said earlier, we are hearing reports of excess capacity that I think the state of New York -- Governor Cuomo reported that he has the ability to test 15,000 people a day.
160234
But they were only testing 5,000 people. We're -- we have heard the same reports from Florida and other states from around the country. But, again, it is all a testament of the fact that president trump essentially brought in the power of the private marketplace, private laboratories. -- reinvented testing in America. And that's how we've been able to be at a place where, as we talk about opening up America, every state in America today has the testing capacity and the supplies to be able to move into Phase One Reopening.
160305
And we're gonna continue to make that a reality.
TRUMP>> We've made a lot of governors look very good. That, I can tell you. I'm reading some of the reviews on some of the governors, and they're getting these reviews, well -- We were able to get them ventilators that they didn't have. We were able to get them testing that they still would not have. We were able to get them things that they didn't have, including helping fill us their stockpile -- who -- which really, they should have had done. They didn't. They were not supposed to be using us for that. But we made a lot of governors look very good. And that's, frankly, good because it's good for our country.
160337
Q>> Why did you pass up an opportunity to speak to the world health organization earlier, the virtual meeting today?
TRUMP>> I chose not to make a statement today. I will be giving them a statement sometime in the near future.But I chose not to give a statement. I think they've done a very sad job in the last period of time. And again, the United States pays them $450 million a year. China pays them 38 million dollars a year.
160404
And they are a puppet of China. They are China centric to put it nicer. But they are a puppet of China. And I think they've done a very -- even when I did the ban,Mike remembers this very well. When I did the ban, they thought it was inappropriate to do. I did a ban very early. If I didn't do that ban you would've lost hundreds of thousands of more people in this country. It was a very important ban. People don't like talking about the ban.
160429
But it was very important. I was the only one that wanted to do it. And we dit it, and we saved thousands of lives, hundreds of thousands of lives, probably. And Dr. Fauci said that, and other people said. Deborah said that, you know that. But the world health organization was against it. They were against me doing the ban. They were against, they said you don't need it. It is too much. It is too severe. It's too all of these things. And they turned out to be wrong. Sleepy Joe Biden said the same thing. He came out, he said I was xenophobic. Can you believe that one, Tillman?
160502
I was xenophobic because I said you can't come in if you come from China. You can't come into our country. Very early. And Biden said I was xenophobic.
FERTITTA>> (inaud.) . San Francisco at the same time.
TRUMP>> This is my guy. [Laughter] We always got along, didn't we? The twins, they call us. So, no, it is a very sad thing. So I'm not happy with the world health organization. And guess what? There are some people around this table who would understanding being a business and in some cases international. I'm not happy with the world trade organization at all either.
160539
Q>> Mr. President, can you explain, sir, why you decided to fire the inspector general of the state department?
TRUMP>> Yeah, I don't know him at all. I never even heard of him, but I was asked to by the state department by Mike. I offered most of my people -- almost all of them, I said, you know, these are Obama appointees. If you would like to let them go, I think you should let them go, but that's up to you. He is an Obama employee. I understand he had a lot of problems with the DOD. There was an investigation on him, on the inspector general. I don't know anything about it.
160610
So I don't know him. Never heard of him, but they asked me to terminate him. I have the absolute right as president to terminate. I have said who appointed him? And they say president Obama. I said look, I will terminate him. I don't know what's going on other than that, but you would have to ask Mike Pompeo, but they did ask me to do it, and I did it. I have the right to terminate the inspector general's. I would have suggested and I did suggest in pretty much all cases, you get rid of the attorney general's because It happens to be very political whether you like it or not. And many of these people were Obama appointments. And -- so I just got rid of him.
160650
Q>> You got some criticism from Democrats in congress who are saying this is a pattern of you --
TRUMP>> Yeah, I know.
Q>> trying to avoid having accountability.
TRUMP>> Yeah, I know and If I didn't fire him, they would've criticized me too. They criticize no matter what you do, you know. If you have too many ventilators, they will say, gee, that's too many ventilators. If you don't have enough, they will say he doesn't have enough. No matter what you do between that and their partner, the fake news media. They'll find something. No, I don't know the gentleman. I was happy to do it. Mike requested that I do it. He should have done it a long time ago, and my opinion. He is an Obama appointment and he had some difficulty. But, I just don't know who he is. I really -- I don't know. I never heard his name.
160732
Q>> Do you believe there's a role for inspector general's to keep in an administration like yours or anyone else's accountable?
TRUMP>> Yeah, but I think they have to be fair. Sure, but I think they have to be fair and I think it's a death wish when you -- and I told my people. I said I think you should, you know, study your situation, but let us know. I think we have been treated very unfairly by inspector general's. I can go into instances, but I'm not going to do it now. But the inspector general's when they're put in by Obama. Just like it could be that if they were put in by me and it was somebody else's administration, especially the other party.
160805
It could very well be that you'd be treated unfairly. But we've had a lot of cases. Where we thought that was unfair. So, yeah, they asked me to do that. I think the big thing is they should have asked me to do it a long time ago.
Q>> You said you don't know him, sir. What was he doing that was treating you unfairly?
TRUMP>> I don't know. I don't know anything about him. I don't know. I don't know anything about him, other than the state department and Mike, in particular -- I guess they were not happy with the job he's doing or something.
160832
So -- because it's my right to do it, I said "sure, I'll do it." I've gotten rid of a lot of inspector generals. Every president has. I think every President has gotten rid of, probably, more than I have. A lot of our people kept the Obama inspector general. And I think, generally speaking, that's not a good thing to do. But they have kept them. But I told them for three years. I said, "anyone who wants to get rid of their inspector general's, because they were appointed by President Obama, I think you should do so." Some of them didn't but now they're doing -- a couple of them are doing it now. Yeah, go ahead.
160905
JON KARL Q>> Mr. President, isn't there at least an appearance of a conflict of interest if Secretary Pompeo is asking you to fire an inspector general that's investigating -- ?
TRUMP>> That I can't tell you. I don't -- I don't think so. I think, maybe, he thinks he's being treated unfairly. Again, he wanted to -- he asked me if that would be possible. I said "I'll do that, sure." I think it should have been done a long time ago, frankly. And this is a man that has had some controversy, this inspector general.
160932
But -- so again, I don't know anything. I haven't even read much about him. I see that it's a little bit of a story, not much of a story. 'Cause everybody agrees that I have the absolute right to fire the inspector generals. I think they should have done it a long time ago. Yes, please.
100946
Q>> Mr. President, some of these executives today told you they expect the recovery to be a little bumpy. Could take a little while. Are you forecasting a faster bounce back?
TRUMP>> I think they are forecasting a very fast bounce back.I mean I see great optimism. These are big restaurant people that are really up on the business. They are very successful. They've been very successful. They will be, I think even more successful again. Especially if we get deductibility. No, I really enjoyed this -- this was a long meeting for me. You know, normally, I wouldn't in a meeting this long, Tilman, but I like hearing about your great basketball team.
161020
I did not know those guys got paid 40. I thought they made 25. That's interesting
FERTITTA>> For the record, my casino in Louisiana opened up today and it opened up extremely, extremely busy in Louisiana.
TRUMP>> Good.
FERTITTA>> So that is good and other people are coming out.
TRUMP>> That's great. What you do works, you know. I've watched you for a long time. What you do works. We are very proud of you.
FERTITTA>> I appreciate that sir.
TRUMP>> Great job.
161042
Q>> Sir, you sounded genuinely surprised about this PPP extension proposal?
TRUMP>> Why was I surprised? You men, that they'd ask for it? Why would I be surprised?
Q>> You sounded surprised that they would --
TRUMP>> [inaud] -- of course, they'd ask for it.
Q>> [inaud]
TRUMP>> I'm surprised that's all they asked for, actually. I know too many of these people. I'm surprised that's all they ask for. No, I think what they are asking for is very reasonable, Steve, you know. I mean, we're gonna have to go and get it approved. And again, we have saved and will continue to save the restaurant business.
161112
And ultimately, we will be paid back many, many times, because they pay a lot of taxes.
Q>> Mr. President -- ?
TRUMP>> And they, you know, create tremendous numbers of jobs. Think of that. 600, 650,000 restaurants. Who wouldn't think that's even possible?
Q>> have you made a final position to fully defund a contribution to the WHO, going forward?
TRUMP>> Well, I have a concept, because we paid 450,000. And somebody came out because we have different ideas.
161143
One was that -- I mean, I could ask these brilliant people. So, we help fund the world health organization. We use it like everyone else does. They gave us a lot of very bad advice -- terrible advice. They were wrong so much, always on the side of China. China paid $40 million last year. And we've been paying $450 million a year for many years. Somehow, that doesn't work out very well. So I was thinking about bringing our 450 down to 40. And some people thought that was too much.
161113
So we're gonna make a decision fairly soon. But I think it's very unfair when we are paying 450 -- For many, many years, we've been paying 300, 400, 450, almost 500 sometimes, and we are not treated right. And we are not treated -- by World Trade, we are not treated right either. The world trade organization. China, there, is considered a developing nation. If you're a developing nation, you get massive tax advantages and other advantages. Well, I want the United States to be a developing nation then, okay?
161243
We should get the same advantages as Chine gets. Why should China get advantages over the United States? Because they got somebody to say they're a developing nation. And so, that is under review also.
Q>> And then, Mr. President, Secretary Pompeo was reportedly under investigation both for having staffers do personal errands like walking his dog and picking up his dry cleaning, and concerns that may have subverted the will of Congress with Saudi deals with -- Saudi arms deals. Are you concerned that he may have made this request to avoid an investigation into --?
161318
TRUMP>> Well, I don't know anything about it. I heard about it at the same time, maybe you heard about it. I don't know anything about it. I mean, do you mean that he is under investigation because he had somebody walk his dog from the government? I don't know. Doesn't sounds -- I don't think it sounds that important. I mean, you have a man that is supposed to be -- and he's a brilliant guy. Number one at West Point. Number one at Harvard -- I believe Harvard law school or close. But he was number one at west point. Number one at Harvard law school or very close to number one.
161348
And they're bothered because he is having somebody walk his dog, as you are telling me. I didn't know that. I didn't hear that. I didn't know about an investigation. But this is what you get with the Democrats. Here's a man, supposed to be negotiating war and peace with major, major countries, with weaponry like the world has never seen before. And the Democrats and the Fake News media, they're interested in a man who'se walking their dog. And maybe he's busy.
161419
And maybe he's negotiating with Kim Jong Un, okay, about nuclear weapons. So that he'd say, please, could you walk my dog? "You mind walking my dog? I'm talking to Kim Jong Un," or "I'm talking to President Xi about paying us for some of the damage they've caused to the world and to us. Please, walk my dog" -- to who? A secret service person or somebody, right? I don't know. I think this country has a long way to go. The -- the priorities are really screwed up when I read this.
161451
Now, I don't know anything about the investigation. But you're just telling me about walking a dog. And what did you say -- doing dishes?
Q>> Saudi arms deals, sir.
TRUMP>> What Saudi Arms Deals? Explain.
Q>> Congress passed -- Congress passed a law to restrict sales to Saudi Arabia over certain arms --
TRUMP>> Yeah --
Q>> Out of concern over their using the [inaud] crisis. So the question is whether Secretary Pompeo tried to subvert the deal with actions that he may have taken on?
161517
TRUMP>> I don't think so. I mean, I think that when someone pays us a fortune for, you know, arms, we should get the deal done. I will tell you that. I don't -- I don't know what you are talking about. I know this. That we have countries that want to buy our arms. And we make it so difficult for them that they end up going to Russia and China. And under my administration, if they are friendly countries, I try to make it as easy as possible. If they want to buy our fighter jets, and if they want to give us billions and billions of dollars, and they have other alternatives including China, Russia, and others, I think we should make it as easy as possible for them.
161549
And we should take the jobs and take the money, because it is billions of dollars. And in past administrations, they waited so long that people wouldn't even want to do business with us. And one of the things that we have done -- and we make the greatest equipment in the world, by far.
And especially now, under this administration, because we have upped the scale a lot, as you know. And we've bought a lot. We've totally rearmed our military. $1.5 trillion. But if somebody wants to give us billions of dollars to buy an airplane or a number of airplanes and missiles and all of the other things that we make better than anybody in the world, we should take the money and make the deals fast.
161625
I would certainly say that.
Q>> Even if it leads to human rights abuses--
TRUMP>> Why don't you take your mask off? You know, you're -- just for a second, please. Don't worry about Jeff. Jeff, why don't you move out of his way so he doesn't infect you please.
Q>> Sir, even if they're --
TRUMP>> I don't want you to become infected [laughter]
Q>> Even if it results in human rights abuses? That was Congress's concern with these.
TRUMP>> Human rights?
Q>> Abuses.
TRUMP>> I don't know. That, I don't know. I mean, you know, you tell me something that I never heard of. Now, you're talking about human rights abuses. You will figure something out, I'm sure. Look, he's a high-quality person, Mike. He's a very high-quality -- he's a very brilliant guy. And now, have you telling me about a dog walking, washing dishes.
161706
And you know what? I'd rather have him on the phone with some world leader than have him wash dishes, because maybe his wife isn't there or their kids aren't -- you know, what are you telling me? It's terrible. It is so stupid. You know how stupid that sounds to the world? Unbelievable. Okay, yeah.
161723
JON KARL Q>> --your reaction to President Obama's speeches over the weekend?
TRUMP>> Okay, look, I think he was an incompetent president. I think president Obama was one of the worst presidents in the history of our country. I think he was an incompetant president. I know what he left us. He left us a broken military. He left us a military that ISIS was all over the place, and I got rid of it. I knocked out 100% of the caliphate -- and even you will admit that, Jon.
161745
And when I came in, it was a mess. But we had a broken military. We had a depleted military. We had little on the shelves. If you talk about pandemics, we had a country that was a mess. We were paying high taxes. We were paying -- and outside of this artificial event that took place two months ago -- and I'm going to build the country into stronger and better than it was even then.
161807
And it's already happening, and you can see it. You can see it today. Just take a look at the stock market. Look at what is going on. Look at the great numbers that are being called. And look at these medical companies calling in. And we're talking about more than one. So many things are happening. But I think president Obama was an incompetent president. He did a terrible job. And by the way, there was great division in our country with president Obama. You didn't see it as much, but there was tremendous division in our country.
161838
JON KARL Q>> (unintell.) ... division now, too.
TRUMP>> I think we'll have great -- I mean, success springs. We had a great success going. Things were really going along and then China gave us a wonderful gift. Okay, and it wasn't pretty. What -- it came out of China, just in case you had any questions, Jon. It didn't come out of -- it came out of China. It spread to Europe, but also came here. And the whole world became infected by this horrible thing that they unleashed one way or the other day. Not a good situation.
161908
Not a good situation. I'm not a man that likes taking that. What happened to us and it was totally preventable. They could have stopped it at the source. They knew it was happening. We wanted to go in. Others wanted to go in. They wouldn't let -- they wouldn't the world as you know -- they wouldn't let, they wouldn't let other countries go in. They wanted --other countries wanted to. World health wanted to.
161933
In all fairness to world health, they wouldn't let world health in. and we're a part of world health. They wouldn't let them in either. They could have stopped it at the source and they chose not to. And yet, they stopped them from going to Wuhan into different parts of China. So, you couldn't go into beijing. What do you think of that Tillman? You couldn't go into China but --- I better not get you involved in that China thing. You got enough problems with --
FERTITTA>> (inuad.) ..they are back though. We are doing business.
162003
TRUMP>> I'm asking the -- an interesting guy that question. But seriously, look. They wouldn't let them into China. But they let them into Europe, and they let them into all over the world including the United States. It's lucky I did the ban. That's all I can tell you. It is lucky that I did the ban. Okay. How about one or two more?
162020
Q>> How are you specifically going to make China be held responsible if --
TRUMP>> Well, i'm not going to tell you that question. Why would I tell you? Go ahead.
Q>> Will they be held responsible? Will you take steps to hold China responsible?
TRUMP>> Yeah, China should be held responsible for what they've done. They have hurt the world very, very badly. They've hurt themselves also, but they've hurt the world very, very badly. Yeah, they should be held responsible. Okay?
Q>> You tweeted recently that this whole whistleblower racket needs to be looked at --
TRUMP>> Sure. sure.
Q>> --very closely and it is causing great injustice.
162051
TRUMP>> Sure, I had a fake whistleblower. Sure, I had a fake whistleblower originally. He was a faker because when he looked at my -- he wrote down a conversation that was totally different from that conversation I actually had with the president of Ukraine. It was a fake whistleblower. And by the way, everybody knows who he is. He's a political operative. You know that. John knows who he is. You know him better than anybody, John, right? He's a faker. And he's a fake whistleblower.
162120
And it was a phony, disgraceful period of time. And we came out well. You know why we came out well? Because everyone recognized it for what it was. It just a political witch hunt. But, he was a fake whistleblower. He wrote a story that bore no resemblance to the conversation that I had with the president of Ukraine. Nothing whatsoever. And by the way, the inspector general, he went by the whistleblower. He didn't want to see the conversation that I had. When he saw the conversation that I had, he said well that bears no resemblance to what the whistleblower said.
162155
Why didn't he look first before he ran to congress? He ran to congress, like, he couldn't get there fast enough with a whistleblower report. But, when they offered him to see the actual conversation -- we called the head of Ukraine and we said, we would like to expose
their conversation that we had, if you don't mind. He said what was wrong with that? That conversation as I say was perfect. It was a perfect conversation. Not a thing said wrong. That is why we had other than half a vote from Romney and Romney is, you know, a loser.
162229
But other than a half a vote we had from Romney, I got 52.5%. In the house, we had 196-0. 196-0. The Republicans were so unified, not because they all liked me, but because they knew this was a horrible thing that happened. But he was a fake whistleblower. He reported on a conversation that didn't happen just like shifty Schiff. Shifty Schiff, went up before congress, and because he has immunity, in other words you can't put him in jail if he lies, because they have immunity in the halls of -- in the great hall. So he made a statement that was totally different from what I said. You know that.
162312
Eight times quid pro quo. There were no quid pro quo's. Nothing. Zero. Eight times, over and over again, and he made it as though that was the conversation. But he knew that wasn't the conversation I had. And any place else, he would have been thrown out of office and put in jail for what he said, but he had immunity because he made it in the halls -- It should be the opposite. If you make a statement like that, if you lie, you should get double penalties, okay? So, you know, that's the way it goes. So, you had a phony whistleblower.
162345
And this other guy with the hydroxychloroquine, okay, well he -- he went out, and he is the one that approved the hydroxychloroquine. He is the one that signed the application. He also happens to be if you look -- see whether or not. I won't put it on me, i'll put it on you. See whether or not he was a big contributor to the Democrats. See whether or not he wanted the Democrats to win. No, there's a lot of bad things coming out about him. But you people don't want to write the news, you know, but if you look -- but he is the one that signed the application. The very important form. He signed it. Now, if he doesn't believe in it, why would he sign it?
162428
And a lot of good things have come out about the hydroxy. A Lot of good things have come out. And you'd be surprised at how many people are taking it, especially the front-line workers before you catch it. The front-line workers -- many, many are taking it. I happen to be taking it. I happen to be taking it.
Q>> Hydroxychloroquine?
TRUMP>> I'm taking it. Hydroxychloroquine.
Q>> When?
TRUMP>> Right now, yeah.
162454
A couple of weeks ago, I started taking it.
Q>> Why sir?
TRUMP>> Because I think it's good. I've heard a lot of good stories. And if it is not good, I will tell you right. I'm not going to get hurt by it. It has been around for 40 years for malaria, for lupus, for other things. I take it. Front-line workers take it. A lot of doctors take it. Excuse me. A lot of doctors take it. I take it. No, I hope to not be able to take it soon, because you know, I hope they come up with some answer. But I think people should be allowed to.
162519
I got a letter from the doctor the other day from westchester, New York, around the area. He didn't want anything. He just said, sir, I have hundreds of patients, and I give them hydroxychloroquine. I gave them the Z pack which is azithromycin, and I give them zinc. And out of the hundreds of patients, many hundreds, over 300 patients, I haven't lost one.
162544
He said please keep pressing that, sir. And if you look at that phony report that was put in, that report on the hydroxy was given to people that were in extraordinarily bad condition. extraordinarily bad. People that were dying. No, I think for whatever it is worth, I take it. I was -- I would have told you that three or four days ago, but we never had a chance, because you never asked me the question.
162610
KARL >> Did the white house doctor recommend that you take that? Is that why you're taking it?
162614
TRUMP>> Yeah, White House Doctor did recommend -- No, I asked him, "what do you think?" He said, "Well, if you'd like it." I said "Yeah, I'd like it. I'd like to take it." A lot of people are taking it. A lot of front-line workers are taking hydroxychloroquine. A lot of front -- I don't take it because -- hey, people said, "Oh, maybe he owns the company." No, I don't own the company. You know what? I want the people of this nation to feel good. I don't want them being sick. And there is a very good chance that this has an impact, especially early on. But you look at front-line workers. You look at doctors and nurses.
162645
A lot of them are taking it as a preventative. And they're taking -- totally unrelated -- but they take the Z-Pak or the azithromycin for possible infection. Now, I haven't taken that, other than an original dose, because all you need -- you don't have to take it simultaneously. But the zinc, you do take. So I'm taking the two. The zinc and the hydroxy. And all I can tell you is, so far, I seem to be okay.
162715
Q>> Can you explain, sir, though, why you started taking it.
TRUMP>> Yeah. Because --
Q>> Have you been exposed?
162719
TRUMP>> No. No, not at all. I just said that -- I've had so many letters from people, like the one I told you about. I got it last week. I'll give you -- Would you like a copy of it? I'd love to give you -- if you ask Molly, she'll give you a copy of it. But this is a doctor -- he doesn't want anything. I don't know him. Never heard of him. But he treats people that are -- that we're talking about. And he said, out of hundreds of people that he's treated, he hasn't lost one. And he just wanted me to know about it. That's all. It wasn't -- he wasn't saying, "gee, could I have dinner with you, Mr. President? Can I come to the White House?"
162749
But I've received many such letters. I've received a lot of positive letters. And it seems to have an impact, and maybe it does, maybe he doesn't. But if it doesn't, you're not going to get sick or die. This is a pill that has been used for a long time, for 30 or 40 years on the malaria and on lupus, too. And even on arthritis, I guess, from what I understand. So it has been heavily tested in terms of -- I was just waiting to see your eyes light up when I said this. But, you know, when I announced this. Yeah, I've taken it for a week and a half now. And I'm still here. I'm still here.
Q>> Can you explain, what is the evidence that it has a preventative effect?
162832
TRUMP>> Here we go. Are you ready? Here's my evidence. I get a lot of positive calls about it. The only negative I've heard was the study where they gave it -- was it the VA where, you know, people that aren't big trump fans gave it and we've done the greatest job maybe of anything in the VA. Because I got VA choice and VA accountability both approved. Accountability, Tilman, is where you can fire bad people that work in the va. That you couldn't fire them. We had thousands of people that were his sadists, that we are stealing, that were robbers, that were horrible people. They beat up our veterans. They couldn't do it in prime time, but they did it when they were sick. And we got accountability. Nobody thought you could get it because of the unions and civil service.
162912
I got it passed so that now, you fire bad people in the va. We got rid of tremendously bad people that should've never been there. But I also got probably even more importantly if you can say that, maybe not, va choice. So if you have to wait in line for a doctor, you go outside, you have a private doctor, we pay the bill. We worked out deals with doctors. We have pricing. So you go out, you pay the bill. And it was a great thing that we did. So we've done a great job with the va.
162939
But they had a report come out. And the results of the report -- it was very unscientific report, by the way. But I get a lot of tremendously positive news on the hydroxy. And I say, hey, you know the expression I've used, John?
162955
"What do you have to lose?" Okay, what do you have to lose?
Q>> So have you been taking medicine?
TRUMP>> I have been taking it for about a week -- for about a week and a half.
Q>> Every day?
TRUMP>> At some point -- Yeah, every day. I take a pill every day. At some point, I'll stop. What I'd like to do is I'd like to have the cure and/or the vaccine. And that will happen, I think, very soon.
Q>> And you have no symptoms, sir?
163016
Zero symptoms. No, I haven't had any symptoms. No, I tested -- we -- I test -- every couple of days, they want to test me, you know, for obvious reasons. I mean, I am the president. Alright? So, they want to test me.
163025
I don't want to be tested, but they want to test me. So, every couple of days, I get tested. And I've been -- I've shown, always, negative. Right? Negative, is that the term you use for this? Right?
163040
Negative, totally negative. No symptoms, no nothing. But, no, I take it because I hear very good things. Again, you have to go to front-line workers. Many front-line workers take it. And they seem to be doing very well.
163054
Q>> Sir, have any other members of your administration, vice president pence or your family members --
TRUMP>> No, but I --
Q>> -- taking it?
163058
TRUMP>> I would not be surprised. I don't want to ask them, because that's a personal decision as to whether or not you want to say. I just want to be open with the American public. Because, you know, I happen to think it is good. I do want the letter given, because this letter made -- not in terms of my taking it. But I thought it was a very well-crafted letter by a man who is a respected doctor up in westchester, maybe a little beyond westchester, a little, up higher, in New York. And he just -- he didn't want anything.
163127
He just wanted me to know the results of what he's doing as a doctor. He was so happy with the fact that I fight for this stuff. And then we have this crazy whistleblower, this fake whistleblower get out and try to knock it. Who signed the application? He did all the signing. He was a believer at one point, I assume. Otherwise, he shouldn't have signed it. No matter who told him to, he shouldn't have signed it. Okay, one more question, that's it. Thank you all very much. Thank you, fellows.