Episode Transcript
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Speaker 1 (00:00):
Hi, it's me Michael. Your morning show can be heard
live daily on great radio stations like News Radio six
fifty k E n I Anchorage, Alaska, Talk Radio eleven
ninety Dallas Fort Worth, and Freedom one oh four seven
in Washington, d C. We'd love to have you listen
live every day and make us a part of your
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Speaker 2 (00:19):
Well two three, starting your morning off right, A new
way of.
Speaker 3 (00:24):
Talk, a new way of understanding.
Speaker 2 (00:27):
Because we're in the stage. This is your morning show
with Michael O'Dell chormy.
Speaker 1 (00:35):
Not mine, yours, not Jeffries, yours. Thanks for waking up
with your morning show on Michael del Journal on the Aaron,
streaming live on your iHeartRadio app everywhere. Welcome to Wednesday, July,
the tenth year of Our Lord, twenty twenty four. If
you're just waking up. Former President Trump, yes, challenging Biden
to another debate. I don't think i'd do that. I
(00:56):
think I'd let them just live with the first result
and a round of gold. That seems a little silly.
We should probably be focusing on the seriousness of things,
and he kind of teased Marco Rubio might be his
potential running mate, but the announcement was not made all
at his rally at his Drell Club in Miami, Florida. Meanwhile,
House Democrats were meeting in Washington, and they kind of
(01:17):
adjourned the meeting, split over the future of Joe Biden's candidacy.
Not so split was Colorado Senator Michael Bennett, who has
become the first Senate Democrats to publicly knowledge what I
think a lot of us already realize. Joe Biden can't win,
not by a long shot. Cruisers scrambling to restore power
to over one point five million customers in Texas after
(01:37):
Burrow Barrow slammed into parts of the state, and Shrek
is returning to the big screen for a sixth time.
I want to do something different though, to start the hour,
and I will acknowledge to you that there's no big,
profound dismount. It's going to change the way you look
at the world forever. It's just a moment for you
(01:59):
to reflect and regain your balance and perspective. You see,
we all know how to boil a frog right, just
gradually to turn up the heat. He'll never jump out
all the way to his death. That's just a reminder
that time and direction done gradually can be gotten away
(02:23):
with abruptly not so much. You see, if Joe Biden
just slowly got older over time, that'd be one thing.
But something rather abrupt happened during the debate that seemed
(02:44):
to startle everyone. Now, my take on that has always
been and I don't know what yours is. But if
that's the first time you noticed the president was old
and incognitive, decline, you haven't been very honest with yourself.
But that aside, if that's the first time the media
(03:05):
has noticed, they haven't been very honest with you. And
even though it looks like they're being tough in forcing
the president out of town, and you may be going, well,
maybe the media is not so dead anymore, maybe not
so leftist anymore. Oh no, no, no, don't get excited.
(03:25):
There was an old formula that was the you know,
the motivational guy, Tony Robins, Tony Robbins simple formula he
used to teach passion equals focus equals action equals direction
(03:48):
and motion equals destination. Sometimes we do these on purpose,
sometimes we just drift into them. If you're passionate about
you know smoking, you think about smoking, it leads to
lighting a cigarette. It sets in motion and direction if
(04:08):
you're smoking for years, and it arrives at a destination
lung cancer.
Speaker 3 (04:12):
All right, So these things.
Speaker 1 (04:13):
Can be bad or they can be good. I'm passionate
about my gifting and calling what I believe God has
purposed for me to do to further His kingdom. And
therefore that's what I focus on, and that's what I do,
And over time it sets in motion and direction, and
(04:34):
it leads to a destination accomplishment and reward. Now, if
you're passionate about your sexuality and lusts, you can play
that game. There's a lot of JFK speeches that people quote,
(04:57):
and they were doozies. You'll always hear ask not because
it was a great inaugural address. You'll hear a lot
about what kind of a piece is it that we seek?
Not a package Americana because it was a great speech,
or we choose the moon because it was a great speech.
But you know what, the best one maybe ever was
(05:19):
the one he didn't get to deliver at the trade
martin Dallas, where he talked about strength. There was one
quote that was so profound If we are strong, our
(05:41):
strength will speak for itself. If we are weak, words
will be of no help. They started talking about moments
in history and what were they defined by great speeches
or by British fleets air superiority. It's a great speed
(06:04):
never got delivered. He was shot and killed in Daily Plaza.
Something really happened that day that I don't think we've
ever recovered from. And it wasn't just the direction of
the Kennedy family, but a direction for a country. And
(06:28):
then we went to LBJ and to Nixon and to Carter,
and I don't think we've ever recovered. Now, listen, I
don't have to prove that to you today. I just
want to play a clip and you tell me. Here's
my statement of fact. The Democrat Party on July fourth
(06:48):
of nineteen sixty two is right of the Republican Party today,
and that same Democrat Party of nineteen sixty two today
is left of the Socialist Party of nineteen twenty four.
And these political shifts in a two party system that
was never meant to be has taken America with it.
(07:15):
Now today we focus on anything goes. Identities are defined
by fluid sexuality. We have drifted so far from our origin,
so far from our intent, and then, with indoctrination along
(07:35):
the way to rewrite history or the media to rewrite reality,
that gradual time and direction has been lost. A plane
shortly after takeoff, slightly off course, not a big deal.
A minute into the flight, not a big deal. Really,
thirty minutes, twenty minutes into the flight, it's a really
(07:58):
big deal. An hour or two hours later, you're over
the wrong ocean. So I thought two minutes and thirty
eight seconds definitely worth our time. We just lived the
Fourth of July. For many of you, you found very
patriotic threads to hang on to based on our founding,
our intent, or what we were, and you had almost
(08:21):
ignore the dysfunction of our reality today. So you almost
celebrated two different Fourth of julys in independence days. Right, Well,
in nineteen sixty two, here's the President of the United States,
John F. Kennedy addressing Fourth of July and independence. You
tell me how different it sounds from politicians today. Listen,
(08:44):
you and I.
Speaker 4 (08:46):
Are the executives all the testament.
Speaker 5 (08:50):
Handed down by those who gathered in this historic hall
one hundred and eighty six years ago. Today, So they
gathered to affix their names to a document which was,
above all else, a document, not a rhetoric, but a
bold decision. It was, it is true, a document of protest,
(09:12):
but protests had been made before.
Speaker 6 (09:15):
It set forth their grievances with eloquence. But such eloquence
had been heard before. But what distinguished this paper from
all the others was the final, irrevocable decision that it
took to assert the independence of free states in place
(09:36):
of colonies, and to commit to that doll their lives,
their fortunes, and their sacred honor.
Speaker 7 (09:44):
Today, one hundred.
Speaker 6 (09:46):
And eighty six years laid up that declaration, Who's yellowing
partment and fading our most illegible lines I saw in
the past week in the National Archives in Washington is
still a revolutionary document. To read it today is to
(10:06):
hear a trumpet call for that declaration unleashed, not merely
a revolution against the British, but a revolution in human affairs.
Its authors were highly conscious of its worldwide impretations, and
George Washington declared that liberty and self government were his
(10:31):
words finally stated on the experiment entrusted to the hands
of the American people. This prophecy has been born out
for one hundred and eighty six years. This doctrine of
national independence has shaken the globe, and it remains the
(10:51):
most powerful force anywhere in the world today. The theory
of independence is his own as man himself, and it
was not invented in this hall. But it was in
this hall that the fairy became a practice, that the
word went out to all. In Thomas Jefferson's phrase that
(11:16):
the God who gave us life gave us liberty at
the same.
Speaker 7 (11:20):
Time, it's.
Speaker 1 (11:25):
You know, it goes on and on. The question is simple,
when's the last time you heard a Democrat talk like that?
When's the last time you heard a Republican talk like that?
That was a president at a point in time that
got our founding, our intent, our creator, we as his creation,
(11:48):
we as a form of government, as a republic, not
a mob rule democracy, and what has been entrusted in
our hands every generation to preserve in a glimpse, well,
what's the old expression in essentials, unity in non essentials,
(12:11):
liberty in all things, charity, perhaps a functional time for
the two party system. We're in the essentials of our God,
our founding fathers, our founding intent. We were unified. Not
so much today, right, That's how much we have changed.
(12:37):
So two points. One, let's get our bearings based on that. Two,
look how gradually it was done to go unnoticed? And
three can we find our way back in the midst
(12:59):
of it? Certainly the lies die to truth, the narratives
die to reality, the failed world views and failed policy
views die of consequence. Has enough of that happened? And
then finally, I don't know if you've noticed, I can't
(13:21):
find a bigger fork in the road than Daily Plaza
nineteen sixty three. From there we went to LBJ and
to Nixon and to Carter. More than John F. Kennedy
died in Daily Plaza on that day.
Speaker 2 (13:38):
I assure you, this is your morning show with Michael
del Chona.
Speaker 1 (13:44):
I am Michael del Jorno, and these are the top
five stories of the day. Things you need to know
waking up. I love you're waiting on the FED to
lower interest rates. Keep waiting, Mark Mayfield explains, Ben Jared
your own.
Speaker 8 (14:00):
Powell told Congress on Tuesday he wants to see more
evidence inflation is cooling before cutting interest rates, but added
that waiting too long could hurt the economy and the
labor market. He said new numbers showing unemployment rising slightly
may prompt rate cuts sooner. Powell said the Fed will
need to examine more economic data before making a rate
cut decision.
Speaker 1 (14:19):
On Mark Neefield, he'd is still on President Biden. Here's
Brian Shook with our Road to the White House.
Speaker 9 (14:23):
To the White House twenty twenty four. The White House
is again dealing with NonStop questions about President Biden's mental fitness.
On Tuesday, Press Secretary Karine jean Pierre noted support from
some Democrats that want Biden to stay in the twenty
twenty four race, as others want him to drop out.
Speaker 6 (14:42):
The whole Congrecional Black Caucus they support the president.
Speaker 3 (14:46):
The Comgrecial Hispanic Caucus support the president.
Speaker 9 (14:49):
She was also asked if the Pentagon calls Jill Biden
if someone launches a nuke at the US past eight PM,
given reports the President turns in early. Jean Pierre said
President Biden has a team that lets him know about
any important news in Washington.
Speaker 1 (15:07):
I'm Brian Schook. We saw him on primetime. I can
only imagine what he's like when you wake him up
in the middle of the Night, George Stepanopflas says he
thinks and he didn't do him any favors in that
interview that Biden. He doesn't think Biden can serve another
term as president. The Good Morning America anchor made the
comment Tuesday while walking on the streets of New York.
A pedestrian asked if he thought Biden should step down
(15:28):
and Stepanofflis replied, well, I don't think he can serve
another four years. This comes four days after the disastrous interview,
which came days after the disastrous debate. Meanwhile, John Stewart
from The Daily Show also said this is a but well,
I can't use his exact words. The excuses this administration
are making enough of the beauvine. What did Phil used
(15:54):
to call it? Bovines scatology? Scatology? And then we had
one and I guess we're calling him the first Colorado
Senator Michael Bennett come out and say publicly Joe Biden
cannot win this election in November, which most of the
polls also agree with. Former US Centator Jim and Hoff
died at the age of eighty nine. A great American,
(16:16):
a great senator, longest center in Oklahoma history and a
man who loved America and loved to fly. He's gone
at the age of eighty nine. I considered him a
true friend. And finally Shrek is returning to the big screen,
and he'll do so for the sixth time. Man, I
Like you.
Speaker 3 (16:37):
What's your Name? Trek?
Speaker 9 (16:41):
DreamWorks Animation announced Tuesday that Trek five is currently in development,
with a July twenty twenty six release.
Speaker 1 (16:48):
Currently set.
Speaker 9 (16:49):
Original Shrek stars Mike Myers, Eddie Murphy, and Cameron Diaz
are all confirmed to return. I'm Brian Shook and.
Speaker 1 (16:57):
Baseball Guardians Rangers, Marin and Raised one d Bacs Nets Loss,
Cardinals were Off singer Arlo Guffries seventy seven, former Cubby
Andre Dawson seventy and Modern Families Sophia Vergara fifty two.
I am Michael. I'd love to have you listen to
your morning show live. Every day. We're heard on great
stations like News Talk five fifty k f YI and
Phoenix News Radio eleven ninety k e X in Portland
(17:19):
and ten ninety The Patriot in CP. Make us a
part of your morning routine. We'd love to have you
listen live, but in the meantime, enjoyed the podcast This
is Your Morning Show on the air and on your
iHeartRadio app every Word. I'm Michael del Jorno along with
Jeffrey Lyon. Who just did what ten burpies? I just
did ten burpies in the studio. I did two of
my own after sipping my red Bull. But they appear
(17:40):
to be different things different. What exactly is it? Burpie? Well,
you get down, you kick your leg, you get out
like a push up position, and then oh it was
up and down, up.
Speaker 10 (17:49):
And doun jump you get back to you. Okayah, you're
doing that in studio. Well, you got to do something
in here sometimes something to wake up, Well, wake up
burpie or not? Here comes Wednesday, July the tenth, Our
Lord twenty twenty four. Former President Donald Trump challenged yesterday
Joe Biden to another debate and a round of golf.
Speaker 1 (18:07):
Also teased a bit about Marco Rubio. He's obviously going
to have a cabinet position, but is he the choice
for VEEP? In fact, what is the best choice for
VEEP and what is the best time to announce it.
I'm beginning to think that former President Donald Trump plans
to do it at the convention. We'll talk with Republican
consultant analyst Chris Walker about that next hour, but right
now we want to talk to John Decker. The NATO
(18:29):
Summit is upon us, and the test for the President,
or some might say the opportunity for the president to
look very presidential among world leaders, important world leaders, has begun.
And that's what you'll be following all this week, John, Well.
Speaker 3 (18:44):
That's right.
Speaker 7 (18:44):
I'll be with the President all day today, and he's
got a really busy day on the schedule. He's doing
some political work of visiting the AFL CIO. This morning,
he'll head over to the summit, meet with his counterparts
for a number of hours. This half after noon, he'll
meet one on one with the new British Prime Minister
in the Oval Office, and in addition to that, he'll
(19:06):
host a dinner this evening of all of the NATO
leaders that will take place at the White House. I'm
in the pool, so I'll be able to see the
President how he deals with this very taxing day, very
long day, in terms of stamina, in terms of all
the things that have raised doubts about his ability to
carry on the duties of president. Not only now, but
(19:26):
also for four years from now. So very important week
for the president. Three days, that's how long the NATO
summit will last. And there's going to be a solo
press conference tomorrow, Michael that I will also attend, and
we'll see how that goes for the president as well.
Speaker 1 (19:45):
You know, it's odd. We're used to presidents just being
presidents and doing the job for which they were elected
to do. But this feels more like proving to his
fellow Democrats, to his constituents and voters, and to the
American people that he can do it, almost like an
audition more than an actual being, which I think is
kind of it's got to be odd for him to do,
(20:07):
let alone for us to watch.
Speaker 3 (20:08):
I thought it was.
Speaker 1 (20:09):
Interesting that Donald Trump challenged him to another debate. I mean,
if I was on the Trump team, I would tell him,
don't debate him again. Let the one be enough. Yeah,
but I don't know when that would take place if
it were to.
Speaker 7 (20:23):
Well, he suggested in his remarks at that campaign rally
this week, this week's impossible. It's not taking place this week,
nor is it taking place next week. That is when
the Republican National Convention will take place all week long
in Milwaukee, and we already know that there is one
second debate on the calendar that's September the tenth. I
think that's the only debate that we're going to see
(20:45):
this election cycle between President Biden and President Trump taking
place between now and November.
Speaker 1 (20:51):
Well, this is a news cycle, and news cycles end.
Although there might be some length to this. If the
destination or the goal is to get this man to
step aside, and he defiantly won't, that would suggest the
news cycle could last a long time. You would think
Donald Trump would like this news cycle to just stay
in place up until the convention. Why on earth would
(21:13):
you be doing something like challenging him to a round
of golf. It sounds so trivial, so out of touch
with the seriousness of the hour. And it opened the
door for the Biden administration to respond and say just
that we don't have time for silly antics like that.
These are the kind of things that I think Donald
Trump should avoid.
Speaker 7 (21:32):
Yeah, that's right, but that's what happens at these campaign rallies.
He goes off script, goes off the prompter, and it
says things that are very unusual to say the least,
if you're competing against someone to be the commander in chief,
to be president of the United States, you don't throw
out this idea of a challenge to mainteen holes of golf.
(21:55):
Very unusual to say the least. But having said all
of that, I think you're right. The president, former President
Donald Trump, really would benefit by just keeping the attention
on Joe Biden as long as he can. Of course,
next week the attention will shift. It will be on Republicans,
it will be on Donald Trump, it will be on
(22:15):
his choice as it relates to his running mate. All
of that will be something that you know, for next
week at least Joe Biden, maybe we'll appreciate that the
spotlight will not be on him for a bit.
Speaker 1 (22:29):
In Milwaukee, in Wisconsin where the former president now leads
in the polls. That's good for momentum as well heading
into the convention. What is kind of the buzz because
right now we would be all anticipating and creating the
pre buzz and the challenges and so on for the convention,
but we're not. We're focused on Joe Biden handled NATO
(22:51):
in town and be president with a long schedule. Does
that help or hurt the Republicans.
Speaker 7 (22:58):
Well, you know, it's simple, right, as you point out,
and as you know, Michael Sowell, the news cycle moves
so quickly. By the end of the week, attention likely
will be focused after the presidential news conference takes place.
Assuming and it's a big assumption, but assuming that there
are no missteps by President Biden, then the attention will
shift to Republicans and will shift specifically to who Donald
(23:21):
Trump chooses as his running mate. That is the big unknown,
and I would certainly imagine that by this time next
week we will know the answers to that question.
Speaker 1 (23:32):
Yeah, and again, conventions are all about the pomp, circumstance,
the official business of the platform and nominating the ticket
and then creating unity and momentum. And there seems to
be a lot of advantage for the Republicans in that
arena and a lot of uncertainty for the Democrats starting
with this week in this schedule. All right, you follow
(23:53):
him and we'll see how he did tomorrow. We'll talk then.
Speaker 7 (23:56):
Thanks so much, Michael, but bye.
Speaker 1 (23:57):
You got a White House correspondent and a turn John
Decker for your morning show forty two minutes after the hour,
for just waking up.
Speaker 3 (24:05):
Thanks, you need to know and that you do need
to look out for well.
Speaker 1 (24:09):
Biden is using the NATO visit as a prop to
look fit fit to be president for four more years.
Mark Mayfield has our Today in politics.
Speaker 8 (24:17):
President Biden spoke at the NATO summit in Washington, d c.
Marking the seventy fifth anniversary of the alliance.
Speaker 11 (24:23):
Our friends, it's good that we're stronger than ever because
this moment history calls for our collective strength.
Speaker 8 (24:31):
The summit comes at a critical time for Biden as
he faces major pressure from fellow Democrats to.
Speaker 3 (24:35):
Show he's fit to serve another four years as president.
Speaker 8 (24:38):
Biden said that NATO was more powerful than ever, citing
better resources and stronger alliances. He added that Ukraine can
and will stop Putin as it continues its war against
Russia and Donald Trump challenging Biden to another debate and
a round of golf while hosting a campaign rally in
Florida on Tuesday, Trump said he's officially offering Biden the
chance to redeem himself in front of the entire world
after his poor debate performance last month. Trump suggested they
(25:00):
hold another debate this week. However, Biden is in Washington,
DC to attend the NATO summit with other world leaders
until Friday. Trump also challenged Biden to an eighteen hole
golf match, saying he would donate one million dollars to
a charity of Biden's choice if the president wins. That's politics.
Mark Mayfield, NBC News Radio.
Speaker 1 (25:17):
As I mentioned a moment ago visiting with John Decker,
I don't think that would be very wise. I mean,
if you're Donald Trump, why would you debate him again?
The first was such a disaster, just leap it at that,
and perhaps he hasn't changed his mind on that by
offering to debate him this week, knowing that's impossible, he
may be wise enough to know that there's no need
to debate Joe Biden again. The damage has already been done.
(25:38):
House Democrats, led by minority leader Hakeeen Jeffries, held a
closed door meeting Tuesday. They were discussing President Biden whether
or not he should remain in the race. The caucus
came to no consensus, although the emotions were high and
leaned towards well, of course he should go, But do
we really want to come out as a unified force
to tell him to go, Some representatives like Maxine Waters
(26:02):
of California, saying the president deserves our support. Others are
eighty one year old commander in chief to step aside
in favor of younger leadership. One senator was the first
to come forward, Colorado Senator Michael Bennett, and acknowledged that
he doesn't think Joe Biden can win the election. In November,
we also talked about George Stepanopholis was apparently on the
street and asked by a pedestrian should Joe Briden step down?
(26:26):
Stepanophlis repied, I don't think he could serve another four years,
and John Stewart from The Daily Show coming out forcefully
calling for President Biden to step aside. Meanwhile, sexually transmitted
diseases are on the rise, and in particular among older Americans.
Frankly old Americans. Michael Kassner reports new.
Speaker 12 (26:50):
Data from fair Health found a nearly five percent jump
and STD diagnosed he's from twenty twenty to twenty twenty three.
Among people aged five and older, that jump was nearly
twenty four percent. Syphilis was leading the way, followed by gonrhea.
Young people and those nineteen to twenty four were the
only groups to see a decrease in STDs. I'm Michael Kasner.
Speaker 1 (27:15):
Boom Buff Boom Bufo Maba, a member of the iconic
country group the Oakridge Boys, has passed away. Tenor singer
Joe Bonsa lost his battle with neuromuscular disorder on July ninth.
He was seventy six years old and finally best dog
(27:37):
beaches in the USA. I didn't know that dogs rank,
they're beaches, Joe Malkin reports.
Speaker 4 (27:45):
Readers of USA Today have ranked the ten best dog
beaches in the nation, and Jupiter Dog Beach gets the
number one spot. The ten best ranking notes that well
behaved dogs can run free without a leash with no
shortage of wistebag stations provided by the Friends of Jupiter
Beach non profit. Jupiter Dog Beach also has freshwater showers
for pets. So only one other Florida dog beach in
(28:06):
the top ten. Fort DeSoto Park in Panelas County is
ranked seventh. The entry states that it dates back to
the late nineteenth century and in the modern era. Fort
de Soto allows beach access to dogs in a designated spot.
Speaker 1 (28:19):
I'm Joel malkoln The quarterfinals will continue today at Wimbledon.
On the men's side yesterday, twelve seed American Tommy paul
lost in four sets. On the women's side, nineteen seed
American Emma Navarro lost in three straight sets to Jasmine Paulini.
And baseball Guardians, Rangers, Mariners and raised one, Dbacks and
Nats lost and the Cardinals were off. Royals are coming
to town today at Bush and the Cubs and yours
(28:42):
truly we'll be in town this weekend. Birthdays today. Singer
Arlo Guthrie seventy seven years old. Former Chicago cub Andre
Dawson is seventy Modern family Sophia Bargara is fifty two,
and singer Jessica Simpson is forty four. If it's your birthday,
Happy birthday. So glad you were born. And thanks for
waking up with your morning show.
Speaker 2 (29:04):
Tell you this is Mike the Baptist in Cotton Down, Tennessee.
My morning show is your morning show with Michaelville Journal.
Speaker 1 (29:11):
But whether person in Houston who did this big smiling
you know on the set selfie of herself. As you know,
over a million people are without power after the hurricane.
What was left to Beryl plowed through Houston it's just
a level of insensitive, insensitivity to the seriousness of the moment.
(29:34):
So that's kind of how I feel when we talk
about Donald Trump challenging Joe Biden to golf. But maybe
we say out loud. Jeffries here, Roy O'Neil is here
for his report. If Donald Trump and Joe Biden laid
a round of golf, right, anybody care to guess what
the ratings would be? It would be awesome and they
could debate all the way through it. How you rory?
(29:57):
That might be three hundred million people watching, even though
I think it's appropriate and silly and a mistake for
Trump to bring up. Yeah, I'd probably watch. Maybe they'll
wrestle too.
Speaker 3 (30:07):
They walk the course or take cards, that's the question.
Speaker 1 (30:10):
Oh both would take cards? All right, we all know that,
and I think it started before that. But you know, COVID,
of course, retaboc on office space corporate real estate was
already struggling. Many of us are going back to work,
I would hope, or there's a new lifestyle in place
where we're never going back to work. Either way, the
(30:31):
vacancy rate for offices is an all time high, and
I suspect we'll get even higher.
Speaker 11 (30:35):
Right, Yeah, so Moody's is expecting about a quarter of
all office space will be vacant by twenty twenty six.
As you said, this trend actually began in the Great
Recession back in two thousand and eight, and then the
pandemic really pushed things overboard. But as we recover from
the pandemic, people aren't going back to the office five
(30:55):
days a week from nine to five anymore. Oftentimes it's oh, yeah,
I'll be in you know, Tuesday, Wednesday, Thursday, but I'm
taking whatever to work remotely on Friday or Monday, whatever
it may be. So there are more and more people,
especially in those white collar jobs where they would flock.
Speaker 13 (31:10):
To those mid level office buildings, they're not coming back.
You know, one opportunity that's sitting there is it would
be very easy to gut and internally convert those office
buildings into living spaces, right because one of the things
we need is apartments, and one of the things we
don't need is office pall.
Speaker 3 (31:29):
No, no, no, it's not easy.
Speaker 11 (31:31):
It's actually incredibly expensive, and the dollars don't add up.
You can do it if you're going to be doing
top dollar for the rental. But for the most part,
those conversions are just cost prohibitive and it doesn't make
sense for the investors.
Speaker 3 (31:46):
Now, if local governments want to.
Speaker 11 (31:48):
Step in help along with the conversion, maybe you can
start to make sense with some of the figures. But
for the most part, again I'm speaking in broad generalities.
Turning that four story office building into an apartment complex,
Oh that's tough to do.
Speaker 1 (32:02):
So what do we do with all this stuff? What
do we do with all these buildings?
Speaker 11 (32:06):
Well, if it is that four story office building, for instance,
we'll use as the example, you know, the place that
has the title office and the insurance guy and the whatever,
you know, knocking it down is probably going to be
the best option for the most part.
Speaker 14 (32:20):
And replace it with a compression apartment, copy with an
apartment complex, you know, with you know, make it more
dense residential, put a you know, knock down the four
story office building, put in a ten story apartment building.
Speaker 11 (32:32):
Maybe the only way these numbers make sense of the
value of office property in the country is expected to
fall by a quarter trillion dollars a quarter tworillion dollars
in the next two years.
Speaker 1 (32:44):
I mean, can you imagine if you were a corporate realtor,
how much your life has changed in ten fifteen years.
And I think technology is really probably the ultimate culprit.
Speaker 3 (32:55):
Right.
Speaker 1 (32:55):
We just got to a point where we don't need
to be in buildings anymore.
Speaker 3 (32:59):
We got to push.
Speaker 11 (33:00):
Yeah, COVID gave us the push on a trajectory we
were already on. But now here's the other thing. Imagine
you're the bank that holds the mortgage on that building. Wow,
And don't think of it as Bank of America and
oh they'll be fine. No, No, think of it as
that regional bank. Perhaps it's a local bank that has
two branches. They're the ones who put up the money
for these buildings. The issue actually came up when FED
(33:21):
Chairman Powell was testifying to the Senate yesterday. One senator saying, hey,
what about office space? Are the and these more and
more foreclosures. Are the regional banks able to handle the
stress of that? And he's like, well, we're looking at it,
and you know, he gave his non answer answer, but
that's a real concern.
Speaker 1 (33:40):
Your Morning Show correspondent Roy and Neil vacancy rate of
offices at an all time high. We're expecting a quarter
of them to be empty in a year or so.
What does that number look like a decade from now.
Speaker 3 (33:50):
Well, actually they think it's going to plateau.
Speaker 11 (33:52):
So at that point you are going to with so
much vacancy, you're going to start seeing more aggressive plans
to say sell it, knock it down, turn it in
to something else, and just you know, start from square
one or make that conversion if the numbers can be
worth it.
Speaker 3 (34:06):
But for the most part, they figure about twenty five.
Speaker 11 (34:09):
Twenty six percent is where they'll max out and then
you'll start seeing significant actions.
Speaker 1 (34:16):
Doesn't feel like it yet, But as the question goes,
has the Biden campaign gotten through the worst of the
after debate debacle. We'll be back with that story next hour.
Thanks Rory. Good morning. All right, fifty eight minutes after
the hour, when we come back, who is the best
pick for Donald Trump's running me?
Speaker 2 (34:35):
We're all in this together. This is your Morning Show
with Michael Hill. Join though,