United auto workers president is sidelined amid his own federal investigation just days after settling that gm strike. It is monday, november 4th and Worldwide Exchange begins right now. Good monday morning im ndomini chu if for Brian Sullivan. Mcdonalds has fired Ceo Steve Easterbrook. Those shares down 2. 5 at this stage in the early extended trading session. Now despite the drop in mcdonalds shares, futures are still higher this morning. If you take a look at the picture overall, the nasdaq up by 38, dow 85. The s p hit a record high on friday treasury yields again a certain big focus for investors these days look at the tenyear note yield ticking slightly higher, 1. 75 the last trade there, twoyear note yields 1. R8 as well markets in japan were closed for culture day. Look at the overall picture and its green across the board. A half percent gain for the shanghai the hang sang up 1. 75 the asian side of things very much in the green. European trading is exactly what were seeing th
Decision easterbrook, of course, took over as ceo in march of 2015 before todays move, the stock was up 96 under his leadership since he took over under that tenure, the company sold off many of its company own stores to franchisees and previeded over the launch of alldaybreak fast and mcdonalds named usa president the new ceo of the company but a lot to talk about there. Joining us to have that conversation right now about leadership change at mcdonalds, jeff simonfeld and cnbc contributor. This was a huge surprise, jeff clearly made a mistake but it was a consensual relationship and we now had a handful of these situations how do you read it well, we do see a trend here that of these roughly 90 ceos who left office last year is 40 of them was for misconduct we havent seen numbers that high 40 for misconduct and most of that misconduct was had to do with improper relationships at work but you make an important distinction, this was consens l consensual we say Harry Stonecipher at boei
Elected president in my opinion, the market drops 25 . We are americans. We believe in making these investments to create lots of opportunity. We are happy to do it. All were saying is if you make it big, i mean really big, i mean one tenth of 1 big, pitch in two cents so everybody else gets a chance to make it now lets welcome in Lee Cooperman, joining us today from florida, should let you know we invited senator warren to take part in this conversation with us today and we have not heard back from her campaign Lee Cooperman, as you can see is here its good to see you thanks. Youve created all the problems for me the whole thing started at delivering alpha im not a political analyst, im a financial analyst. It was your words, not mine, lee. Yeah. The only i would like to modify my words a little bit first of all, i want to say the significance of an event for the stock market is a function of what the stock market is discounting at the time the event occurs the market at 3,050 whereve