Episode Transcript
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Speaker 1 (00:00):
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:07):
You're listening to Bloomberg Business Week with Carol Masser and
Tim Steneveek on Bloomberg Radio. Well, it is the five
year anniversary of George Floyd's killing that happens this Sunday.
That's the anniversary. Hard to believe that since then we've
seen a pendulum. I think it's fair to say swing
back and forth when it comes to the way companies
talk publicly about race, when it comes to the way
(00:31):
that we hear administrations talk about it.
Speaker 3 (00:34):
The National Urban.
Speaker 2 (00:35):
League is out with a new report, and we're joined
by Markmrioal, President and CEO of the National Urban League.
It calls itself quote, the nation's largest historic civil rights
and urban advocacy organization, devoted to empowering communities and changing
lives since nineteen ten. Mark joins us here in the
Bloomberg Interactive Brokers Studio. Mark welcome.
Speaker 1 (00:53):
Hey, I'm glad to be here, and you know, I
want to take a minute if you will talk about
US steel please, because we took a position against this transaction,
and I think people should be reminded that both Biden
and Trump during the election cycle oppose what in it
sent in effect, was an acquisition by Nipon Steel of
(01:17):
US steel. Cleveland Cliffs wanted to buy US steel. Both
Biden and Trump opposed it on the theory that it
would lead to the loss of American jobs, the fear
being that Nippon would close American plans transfer production to Japan.
So now with this iteration, you asked the right question,
(01:39):
is this a partnership or is that a public relations move?
Is it still the original deal, which really was an acquisition,
and what protections are going to be there? We took
a position from a job's perspective, So.
Speaker 4 (01:52):
You were justerned about some of the black communities there right, economic.
Speaker 1 (01:57):
Places and steal and we're in a conversation where we're
talking about manufacturing. So the real impact question is will
this protect American steel jobs or will it potentially lead
to the transfer production to Japan.
Speaker 2 (02:12):
Well, I will say the President said that it would
create at least seventy thousand jobs and AD fourteen billion
to the US economy. But as we did just here
from Richard Bork, he has a hard time imagining that
after investing fourteen billion dollars, then Nippon stee would at
an additional fourteen billion dollars to the US economy.
Speaker 1 (02:29):
And the question is are there any guarantees? And I
think we all need to watch for the details, understand
the specifics because those jobs and those communities have been
heavily dependent on those types of.
Speaker 2 (02:41):
Well, just to contextualize the seventy thousand, that's just a
massive number of jobs, especially for the steel industry. US
steel only has twenty two thousand employees right now.
Speaker 1 (02:50):
Yeah, and I hope it's not a lot of hype,
you know, And I think that we owe it to
look at the transaction and see what impact it or
what guarantees are going to be there for American workers,
And what are the guarantees that five years from now,
there's not a decision made, a reversal and the jobs
moved to Japan or they move abroad for some reason.
(03:11):
So that's really what, if you will, handcuffs and guardrails
are going to be placed on this transaction until we
see what they file, until we see what they promise,
it's hard to know.
Speaker 3 (03:23):
But I'm just it's.
Speaker 1 (03:25):
Interesting that the president opposed it as a candidate. Biden
opposed it as a candidate, the union opposed it at
a as a candidate, Union opposed it last year, and
there was an American suitor for US Steel Cleveland Cliffs, Right.
So there's a lot to unpack here, and I just
you know, we work hard on the issue of jobs,
(03:47):
and we're very focused on transactions to determine whether it's
going to have a positive or negative impact on the
communities we serve.
Speaker 3 (03:54):
Well, look, yeah, you George Floyd, wait, I want do.
Speaker 2 (03:58):
You want to in a minute?
Speaker 4 (03:58):
Ye?
Speaker 2 (03:59):
I want to stay on economic development and stand jobs
because as somebody who's been involved in government for so
long there of New Orleans serving in the Louisiana State Senate,
you understand this stuff when it comes to economic development.
Speaker 3 (04:11):
Take a big picture.
Speaker 2 (04:12):
Approach to what you view as the economic policy of
the Trump administration and its effects on American jobs. Because
the President and the administration would say, hey, we are
imposing tariffs to protect US jobs.
Speaker 1 (04:25):
I think a tariff approach without an industrial policy, which
says what specific industries are you trying to grow it
appears to be a scattershot approach designed to leverage some deals.
Speaker 3 (04:41):
Without any specificity. So we're talking about iPhones, automobiles, blue jeans.
Speaker 1 (04:49):
Toys, what specific so I can buy the selective use
of tariffs, the selective use of trying to rebuild an
American industry. But you need an industrial or economic development
policy that matches the tariffs in order to give certainty
to American business and consumers.
Speaker 4 (05:06):
So I am curious, you know, Mark, when the President
putting pressure on a company like Apple to kind of
increase its investment here. And we've talked a lot with
our reporters who cover it and our team that covers it,
that they say, you know, it's going to be a
while before we can do it. That maybe there isn't
the skill of the workers, the type of automation, so
on and so forth. But is that the kind of
(05:26):
thing that you think would create jobs that would actually
benefit black communities, middle class communities, which we have just
kind of carved out in a big way.
Speaker 1 (05:38):
Look, we the outsourcing of jobs that took place in
the eighties and the nineties to really Reagan era free
trade policies, which will continued in the Bush and the
Clinton era.
Speaker 4 (05:51):
The Republicans Democrats are.
Speaker 1 (05:52):
Like, yeah, communities, right, they did damage community. The benefit
was cheaper goods on the consumer side, right, So there
were some benefits, but it hurts. The issue today is
what jobs are the jobs.
Speaker 3 (06:04):
Of the future.
Speaker 1 (06:05):
Is it rebuilding automobile component parts. I would say that
what people have not paid attention to is the disinvestment
through the NIH cuts in biomedical research and technology where
we do have a bit of a competitive advantage. Where
we do have, we ought to be pouring more investments
(06:25):
into that.
Speaker 4 (06:26):
What's the impact of that from your view, Well, the.
Speaker 1 (06:29):
Impact of that is long term damaging because what happens
is the scientists and the investments go abroad, and once
they go abroad, just like manufacturing, you can't get them back.
So our economic policy ought to be focused on where
do we have a bit of some tailwinds and how
(06:49):
can we grow it?
Speaker 3 (06:50):
But then on manufacturing.
Speaker 1 (06:52):
I agree with the notion that we are to try
to rebuild.
Speaker 3 (06:56):
Manufacturing, but we need to be more specific about it.
Speaker 1 (06:59):
If someone said I want to bring jobs to Detroit, Newark, Gary,
New Orleans, Atlanta, I'm all for it, but I need
some specificity as to how this policy is going to
generate that type of response.
Speaker 4 (07:12):
Are you getting time at the White House, We've.
Speaker 1 (07:15):
Not been in any direct discussions with anyone in the administration,
but as always, if it's about the benefit for the community,
I'm open to discussions with anyone.
Speaker 2 (07:23):
Is that different than other administrations? Do you typically have
a direct line to the White House?
Speaker 3 (07:27):
You know?
Speaker 1 (07:27):
In the Clinton, the Bush, the Obama administrations. Of Biden administrations,
I think there was a much more candid, open working
relationship with civil rights leaders, with African American leaders, and
they were frank and candid, and they were not performative.
Speaker 3 (07:43):
You see I meetings. Many of these meetings took.
Speaker 1 (07:46):
Place without cameras, without press, without performance, without posturing. So
I mean my view of meetings is I want to
talk business. I don't want to play games.
Speaker 2 (07:58):
What's interesting is that the communities that you represent at
the National Urban League in the last election move further
to the right for the most part. And I don't
want to paint every.
Speaker 1 (08:10):
Conduction, and many didn't vote, and there was a cynicism
about whether government.
Speaker 3 (08:16):
Can make a difference. And why was that.
Speaker 1 (08:19):
I think that people's objective economic conditions, the difficulty of COVID,
the depression of wages, inflation, a whole host of factors,
and the idea that politicians come and go and make
promises and never keep them.
Speaker 2 (08:35):
So how does the Democratic Party get these voters back.
Speaker 1 (08:38):
It's going to be up to a specific candidate. I
think people will rally around the right person. I don't
know if it's so much about a party. I think
Trump right, Trump remade quote unquote the Republican Party. I
think the Democratic Party is the Democratic Coalition is poise
for a makeover. It's poised for a group of people
who are gonna come and talk about how they're going
(08:59):
to change and disrupt.
Speaker 3 (09:01):
But bill a vision for the future.
Speaker 2 (09:02):
So who are some names that I would on your mind.
Speaker 1 (09:05):
I wouldn't offer any names now because right now the
horses have not gotten out of the stable.
Speaker 3 (09:11):
So we got to see him on the practice track.
Speaker 4 (09:15):
Was Kamala Harris the wrong candidate at the wrong time.
Speaker 3 (09:18):
Oh, she was a good candidate.
Speaker 1 (09:19):
She was given a tough a tough lane to run
in sixty to ninety days to get known amongst American people. Remember,
she came within one point of defeating someone who was
on their third run for president. So we got to
remember there was no landslide, there was no mandate, but
there was a victory for Donald Trump.
Speaker 4 (09:40):
So I would love to say, speaking of victories, that
we've made a lot of progress in the last five years.
Considering the tragic killing of George Floyd, and I think
you know it was COVID.
Speaker 3 (09:56):
We were all home.
Speaker 4 (09:58):
We had a lot of conversation, really frank and real
with CEOs and leaders about the importance and the racism
that still is in this country and blacks being targeted
around the country and just the injustices. And I feel
like we've slip slided back.
Speaker 1 (10:17):
Tell me how you saw five steps forward and three
steps back on two issues we cover in this report.
Speaker 3 (10:25):
I encourage people to go to in UK to report
out yes on policing. Many communities, many police departments, many.
Speaker 1 (10:33):
Cities, supported by the Civil Rights Division of the Justice
Department made strides. We didn't pass a comprehensive federal law
that George Floyd Law did not pass, but one hundred
and eighty police officers were in fact convicted. Dozens of
police departments ended up in agreements to reform themselves. A
(10:54):
number of states, like Maryland, passed statewide police reform measures.
Speaker 3 (10:58):
That was good. Now what's the obstacle?
Speaker 1 (11:01):
Now the current administration has walked in and said we're
freezing all civil rights investigations, regardless of merit, regardless of
the basis of those that puts headwinds into this effort
to continue to do reform. On the other hand, there
were these incredible commitments by many great American institutions, businesses, philanthropies, etc.
(11:26):
And now some are walking them back. And they're three categories.
Those that have just abandoned them, some who've held firm
and those that are making cosmetic changes because they know
they need to be committed, but they're under the pressure
of the administration, which is using its regulatory power to
force their hand.
Speaker 2 (11:46):
Do you think which one do you think happened more?
Do you think these are just cosmetic changes and they're
committed to these so called DEI policies, or do you
think they are actually making fundamental changes in moving away
from them and American.
Speaker 1 (11:59):
Business to them straight a sense of courage. And the
reason why that courage is important is to recognize the
marketplace for both employees and customers of the future, which
is becoming far more diverse, black, brown Asian women. That's
the workplace of the future, the customers of the future.
Speaker 3 (12:23):
I mean, you've seen.
Speaker 1 (12:25):
Target get really really hammered, right and they had an
incredible record. They've walked it back now they'll tell you no,
the changes we made were.
Speaker 3 (12:36):
Really around the edges.
Speaker 1 (12:38):
But people today, if you look at D E and
I diversity, equity and inclusion, equal opportunity, and you poll it,
the lowest polling numbers I've seen in any any publicly available.
Speaker 3 (12:51):
Poll is fifty percent.
Speaker 1 (12:53):
See, the American people are not on the side of
the loud anti voices. American businesusiness knows deep in their soul,
they know and they understand. But they're being I think pressured,
they're being intimidated, and I think that's just the reality
of today.
Speaker 4 (13:12):
We're squeeze for time twenty five seconds. Are you surprised
by the fear of corporate leaders to speak out? And
I apologize that it needs to be quick, I am.
Speaker 1 (13:22):
But their exceptions Jamie Diamond, Roger Goodell, two people with
whom I've spoken, and two people who've made important statements,
and I think others should do the same thing.
Speaker 2 (13:35):
Are you done with public service?
Speaker 3 (13:37):
Never done with public service? So are you?
Speaker 2 (13:40):
Is there a chance you would run for something else?
Speaker 3 (13:41):
There's always a chance. But I love my job. I
love what I do.
Speaker 4 (13:44):
But there's always a chance, like what, Stay tuned all right, TVD,
We'll come back and tell us you can break it. Mark,
thank you so much. He's, of course, president and chief
executive officer of the National Urban League, joining us in studio, Mark,
thank you. Yeah,