PERFORMER, AS YOU CAN SEE, WAS
HONG KONG HANG SENG DOWN 2 1/4
PERCENT "MORNINGS WITH MARIA"
IS LIVE RIGHT NOW.
>> A ACQUISITION QUOTE TWO
PLANK CHECK COMPANY FORMED BY
WILBUR ROSS PRICING INITIAL
PUBLIC OFFERING RAISING 300
MILLION DOLLARS BEGINS TRADING
TODAY JOINING IS AHEAD OF ALL
THAT FORMER SECRETARY OF
COMMERCE HIMSELF WILBUR ROSS
GREAT TO SEE YOU THIS MORNING
CONGRATULATIONS.
>> THANK YOU MARIA GOOD TO BE
ON AGAIN.
>> I LOVE THE SYMBOL I HAVE TO
SAY ROSS DOT YOU, VERY GOOD
SYMBOL WHAT THANK YOU TELL US
ABOUT SPECIAL ACQUISITION
PURPOSE COMPANY WHY DID YOU
TAKE THIS ROUTE WILBUR?
>> WELL, I HAD DONE A SPAK
YEARS AGO BEFORE GOING INTO
GOVERNMENT IN 2014.
THE SPAK THEN WAS HE LARGEST
ONE TO THAT POINT IN TIME
WORKED OUT PRETTY WELL.
SO IT IS NOT SOMETHING NEW TO
ME.
ALTHOUGH NOWADAYS, ARE IT HAS
BEEN VERY MUCH DISCOVERED BY
MARKET IN GENERAL SO 90
BILLION DOLLARS OF SPAK RAISED
LAST YEAR I THINK THIS YEAR
OTHERWISE HEADED NORTHWARD
ANOTHER NEW RECORD. SPAKS BASICALLY HAVE BEEN
SPAKS BASICALLY HAVE BEEN
REPLACING THE EUROPEA IPO BRINGS
MORE TO HIGH-TECH PEOPLE AT
KWLAERL STAGE OF DEVELOPMENT.
THE CHALLENGE IMPOSES IS MUCH
HARDER TO MAKE FORECASTS FOR
PEOPLE HE WILL WHO DON’T YET
HAVE REVENUES THAN FOR
COMPANIES THAT ARE MORE
MATURE.
SO THE ANALYTICAL CHALLENGE IS
GREATER.
>> MAKES A LOT OF SENSE WHAT
ACQUISITIONS WOULD YOU LOOK
FOR TELL US WHERE YOU SEE
FROTH WHAT YOU WANT TO TAP
INTO WITH REGARD TO
ACQUISITIONS.
>> SURELY.
SPAKS ARE ABLE TO GO INTO ANY
INDUSTRY IN ANY PLACE IN THE
WORLD.
AND OURS AS LEGAL CAN ALSO DO
THAT WE INDICATED IN THE
OFFERING MATERIALS THAT OUR
FOCUS WILL BE ON A FEW AREAS
TO THE DEGREE WE CAN.
SPACE, OUTER SPACE,
SEMICONDUCTORS THE --
CHALLENGES POSED BY AUTONOMOUS
DRIVING BY ELECTRIC VEHICLES
IN ADVANCED MANUFACTURING WE
THINK INEVITABLY ARE FUTURE OF
THE COUNTRY ALSO ONES IN WHICH
WE HAVE A GOOD DEAL OF
EXPERIENCE.
MARIA: THIS IS A REALLY GREAT
TRANSITION, THAT YOU ARE
GIVING ME, BECAUSE ALL OF
THOSE AREAS THAT YOU MENTIONED
ARE THE AREAS THAT ARE THE
GROWTH STORIES OF TOMORROW,
NOT JUST FOR THE UNITED STATES
BUT CHINA, ALSO WANTS TO BE
NUMBER ONE IN ALL OF THOSE
AREAS WILBUR SUBJECT YOU KNOW
A LOT ABOUT THE BIDEN
ADMINISTRATION IS GOING TO BE
MEETING WITH OFFICIALS FROMCHINA
IN ALASKA THERE ARE REPORTS
THIS MORNING THE BIDEN
ADMINISTRATION IS HITTING SOME
HUAWEI SUPPLIERS WITH 5G
LIMITS THAT NEW RULES WILL
CREATE A TIGHTER CONTROL ON
THE EXPORT OF COMPONENTS LIKE
SEMICONDUCTORS, AT ABOUT
RECESSION FOR HUAWEI 5
GEODEVICES YOUR REACTION TO
THAT WHAT YOU WOULD LIKE OUT
OF THIS MEETING IN ALASKA NEXT
WEEK. >> WELL, ON HUAWEI,, AS YOU
>> WELL, ON HUAWEI,, AS YOU
KNOW, WE ARE THE ONES WHO
INITIATED THE CONTROLS TO
BEGIN WITH EXPORT CONTROLS ARE
A CHALLENGE WHAT HAPPENS YOU
CLOSE ONE LOOPHOLE THEY FIND
ANOTHER LOOPHOLE I AM
DELIGHTED TO SEE THAT THE
BIDEN ADMINISTRATION AND NEW
SECRETARY OF COMMERCE ARE NOT
ONLY FOLLOWING THROUGH BUT
FINDING WAYS TO TIGHTEN
THINGS, AS NEW PROBLEMS COME
UP.
SO I THINK THAT IS AN
EXCELLENT CONTINUATION OF
DIRECTION.
I AM TOLD ALTHOUGH I HAVEN’T
SEEN IT OFFICIALLY THEY ALSO
ARE GOING TO IMPLEMENT THE
CONS STRAIGHTENS WE ANNOUNCED
REGARDING SUPPLY CHAIN WE
ANNOUNCED A NEW SET OF
CONSTRAINTS WOULD GO INTO
EFFECT MARCH 22 AFTER CURRENT
PERIOD OF PUBLIC COMMENT.
AND I AM TOLD THEY INTEND TO
GO AHEAD WITH THAT AND THAT IS
A GOOD THING TOO.
BECAUSE YOU THE ISN’T JUST
SEMICONDUCTORS, TECHNOLOGY IN
GENERAL IS AN AREA THAT WE
MUST PROTECT WE MUST NOT LET
OUR COMPANIES BE STOLEN FROM.
WE MUST NOT LET THEIR
TECHNOLOGY BE DEPLOYED TO
MILITARY USE OR FOR ABUSE OF
INDIVIDUALS AND MINORITY
GROUPS.
THAT THOSE ARE IMPORTANT
OBJECTIVES AND I AM REALLY
HAPPY TO SEE THE
ADMINISTRATION CONTINUING
THEM.
AS TO THE.
MARIA: THAT IS VERY -- THAT
IS GREAT YEP.
>> THE ALASKA MEETING, THAT
WILL BE THE SECRETARY OF STATE
TONY BLINKEN THE NATIONAL
SECURITY ADVISER JAKE
SULLIVAN, INTERESTING THAT TWO
PEOPLE MEETING WITH CHINESE
ARE STATE IN NATIONAL SECURITY I THINK SHOWS PROPER
I THINK SHOWS PROPER
PRIORITIES, DIP MATTERMATIC
DIP
DIP LOWMATIC LOGIC IN ALASKA
MORE OR LESS HALFWAY BETWEEN
BEIJING AND WASHINGTON.
MARIA: I LOVE WHAT YOU ARE
SAYING, THIS SOUNDS GOOD
BECAUSE THERE HAS BEEN A LOT
OF QUESTIONS, AND DEBATE ABOUT
HOW PRESIDENT BIDEN WILL DEAL
WITH THE CHINESE COMMUNIST
PARTY.
I KNOW THAT YOU AND YOUR
COLLEAGUES, HAVING PUSHED BACK
SO MUCH ON THE CCP, HAD A HARD
TIME GETTING THE CHINESE TO
EVEN ADMIT THEY WERE STEALING
INTELLECTUAL PROPERTY RIGHT?
IF YOU ABOUT THE CAN’T GET
THEM TO ADMIT THEY ARE TO GO
IT HOW WILL THEY STOP.
>> THAT IS EXACTLY TRUE WE ARE
WAY BEYOND THAT NOW.
THERE IS NO LONGER THE HIDING
BEHIND OH WELL WE’RE NOT DOING
THAT IT IS GENERALLY
ACKNOWLEDGED THERE HAVE BEEN
INAPPROPRIATE TACTICS I AM
GLAD TO SEE THE BIDEN
ADMINISTRATION STEPPING
FORWARD CONTINUING TO
IMPLEMENT THEM IT IS NOT THAT
I AM ANTICHINESE.
I DON’T THINK IT IS THAT THE
BIDEN ADMINISTRATION IS.
WE’RE FULLY PREPARED IN
AMERICA TO COMPETE AGAINST ANY
COUNTRY TECHNOLOGY OR OTHER
WISE AS LONG AS FAIR
COMPETITION BUT YOU CAN’T DO
INDUSTRIAL ESPIONAGE YOU CAN’T
PUT UNDO RESTRICTIONS YOU
CAN’T STEAL PEOPLE’S
INTELLECTUAL PROPERTY YOU
CAN’T BE BREACHING
CYBERSECURITY THAT IS NOT
FAIR, THAT IS NOT HE
APPROPRIATE COMPETITION.
ALSO, YOU CAN’T EXPECT US WHO
ARE THE LEADERS IN MANY OF
THESE TECHNOLOGIES TO PERMIT
THEM TO TAKE OUR TECHNOLOGY
AND USE IT TO DO HARM TO US,
TO EUROPE, AND TO OTHER
NONCOMMUNIST ENTITIES.
>> WHAT GREAT BACKGROUND YOU
HAVE NOW AS YOU LAUNCH THIS
SPAK TO REALLY UNDERSTAND
WHERE THE GROWTH IS, HOW TO
CAPITALIZE ON GROWTH
PARTICULARLY WITHIN
TECHNOLOGY, WILBUR I WANT TO
TURN ATTENTION TO IS IT
STIMULUS SIDE INTO LAW ONE
THAT MANY WERE NOT FOCUSED ON
DEMOCRATS ABLE TO STOP 60
BILLION DOLLARS WORTH OF TAX
INCREASES INTO THIS BILL HERE
ARE SOME CHANGES THEY ARE
MOVING DEDUCTIONS FOR
COMPANIES PAYING TOP
EXECUTIVES MORE THAN ONE
MILLION DOLLARS A YEAR
CRACKING DOWN ON HOW
MULTINATIONAL COMPANIES
ACCOUNT FOR INTEREST EXPENSE
HOW OPENERS OF ARMY
INCORPORATED BUSINESSES
ACCOUNT FOR LOSSES YOUR
REACTION TO TAX INCREASES
EMBEDDED INTO THE COVID RELIEF
BILL.
>> THE -- THAT IS THE CASE.
THE MILLION DOLLAR LIMIT ON
EXECUTIVE PAY FOR PUBLIC
COMPANIES I BELIEVE DOESN’T GO
INTO EFFECT UNTIL 2026 THAT IS
WHAT I READ IN ONE OF THE
REPORTS THIS MORNING,
NONETHELESS, THEY ARE
INCREASES, 60 BILLION IS A
NOTICEABLE FIGURE PARTICULARLY
FOR AFFECTED ARE PARTIES BUT I
THINK THE WORST TAX INCREASE
THEY ARE PUTTING IN BEING
ANTIOIL AND GAS PUTTING A POST
TAX, TAX ON EVERY AMERICAN
CONSUMER AND EVERY AMERICAN
BUSINESS BY RAISING THE COST
OF HYDROCARBON I THINK THAT IS
A VERY POOR POLICY IN THAT ONE
OF OUR COMPETITIVE
ADVANTAGEOUS ONE OF THE
REASONS ABOOM UNDER PRESIDENT
TRUMP HE LIBERATED MANY OF OUR
NATIONAL RESOURCES LET US
BECOME A VERY LOW COST
PRODUCER, AND BENEFIT FROM IT.
I THINK THAT IS NOT A GOOD
POLICY TO REVERSE.
AND I THINK WE AS A COUNTRY
WOULD BE A LOT BETTER OFF
CONTINUING TO REDUCE OUR
DEPENDENCE ON FOREIGN ON
NATIONAL RESOURCES,
PARTICULARLY OIL AND GAS.
MARIA: YEAH.
BY THE WAY, THE POLICY HAS
ALREADY WIPED OUT THE 11,000
JOBS ASSOCIATED WITH THAT XL
PIPELINE WE HAVE ALREADY SEEN
SOME DAMAGE, IN JUST ON DAY
ONE AS A RESULT OF THIS WILBUR
GREAT TO GET INSIGHT ON ALL OF
THIS GO AHEAD FINAL WORD FROM
YOU --
>> THANK YOU.
FINAL WORD, WELL THE THING I
WAS ABOUT TO SAY IT IS VERY
STRANGE, THAT THE BIDEN
ADMINISTRATION WOULD PROHIBIT
A PIPELINE HERE AND, YET, THEY
ALLOWED THE RUSSIANS TO GO
AHEAD AND COMPLETE THEIR
PIPELINE, INTO GERMANY, TO
MAKE RUSSIA AND EUROPE EVEN
MORE DEPENDENT ON RUSSIAN
NATURAL GATHER DOESN’TS STRIKE
ME THAT IS A VERY ENLIGHTENED
NATURAL GAS POLICY.
>> SO GLAD YOU MENTIONED
NORDSTREAM SO MANY RAISED THAT
WITH M OVER ONE DISDENT THE
OTHER HAND ALLOWING THE
PIPELINE INTO EUROPE AN
OBVIOUS HUGE POSITIVE FOR THE