Return to Transcripts main page

CNN Newsroom

Alibaba Set for Largest Ever IPO on NYSE; ISIS Releases New Video of British Hostage; Congress Racing for the Exits Without Standalone Vote on ISIS

Aired September 19, 2014 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

(COMMERCIAL BREAK)

CAROL COSTELLO, CNN ANCHOR: Alibaba, the Chinese e-commerce giant, is set for the largest ever IPO on the New York Stock Exchange this morning. The site is valued at about $168 billion, just ahead of Amazon, but not too far behind Facebook. So what can you do on Alibaba? What is it? Well, you can buy stuff, just like on eBay, or plan a night out on the town, like you can with Open Table or Uber. You can also use it to pay for things online, just like PayPal. Alison Kosik is live at the New York Stock Exchange to tell us more.

Hi, Alison.

ALISON KOSIK, CNN CORRESPONDENT: Good morning, Carol.

Ah, yes, you can feel the excitement, you can hear the excitement when the opening bell rang. This is Alibaba's day in the sun. Everybody really excited, especially Jack Ma. One trader telling me, Jack was here as early as 6:00 a.m., which is hours before any usual IPO folks usually get here. He was so excited, he went out in front of the NYSE and apparently took a selfie of him and more than 100 reporters out in front of the New York Stock Exchange.

But interestingly enough, though the opening bell rang, Alibaba will not yet be open for business, not just yet.

(BEGIN VIDEOTAPE)

KOSIK (voice-over): This is how a stock is born. The trading day begins at 9:30.

KOSIK (on camera): This is where it all starts. Alibaba will ring the opening bell. But when that opening bell rings, the stock won't start trading, at least not yet.

KOSIK (voice-over): The bankers in charge of Alibaba's IPO must decide what time and what price to open at. That's based on the orders that are coming in and the number of shares up for sale, simple supply and demand, but the timing can be complicated.

SCOTT CUTTER, EVP & HEAD OF GLOBAL LISTINGS, NYSE: There's no telling how much time that takes and it ranges. I mean GM was a large IPO that opened before 9:45. Twitter, which was highly anticipated but also coming on the heels of the challenging Facebook open, that opened around 10:45. This is potentially the largest transaction that's ever occurred in history. And so I think the underwriters are going to take their time.

KOSIK: The newborn stock has a name, BABA. That's the ticker symbol it will trade under. Then it happens, Alibaba opens for trading. The company completes the biggest IPO in history, and hopefully no technical glitches or major price drops steal the spotlight on its big day.

(END VIDEOTAPE)

KOSIK: And if you're curious what's going on, on the floor right now, a lot of people crowding around post eight. That's where a lot of the orders are being taken and held until that sweet spot, that price is going to be decided upon when Alibaba will actually make its public debut. If you're curious about who rang the opening bell, Jack Ma was not on the podium. It was actually some of his customers, a farmer, a teacher, kind of apropos for a guy who runs a company whose mantra is that the customer always comes first.

Carol.

COSTELLO: Oh, nice. Alison Kosik reporting live for us this morning, thank you.

ISIS has released a new slickly produced hostage video. This time it shows a British journalist, John Cantlie, reading a prepared script. Now, the message clearly targets the west, saying the U.S. can't win a war against ISIS and Cantlie says it will be followed by other messages continuing that same theme.

Also new this morning, dozens of British Muslim leaders have signed an open letter calling for the release of Alan Henning. He was captured by ISIS as he tried to provide aid to the Syrian people. The British journalist is also under the threat of execution.

In the meantime, U.S. military officials tell CNN that American war planes are at the ready to launch air strikes on ISIS in Syria. Now this morning we learned that France carried out its first air strikes over Iraq. Former President Bill Clinton says the United States can win this war, but it can't do it alone.

(BEGIN VIDEO CLIP)

BILL CLINTON, FORMER U.S. PRESIDENT: So the reason I think that the president's strategy to combat ISIS has a chance to succeed is that the Iraqi government finally includes Sunnis who were representing those tribal leaders who were moderate and who -- without whom ISIS cannot be defeated. We can't win a land war in Iraq. We proved that. But they can. And we can help them win it. And that's got to be what we're trying to do.

(END VIDEO CLIP)

COSTELLO: Let's bring in CNN's Karl Penhaul now. He's live in London.

So, Karl, what do you make of that new propaganda video that was put out by ISIS. It's a different tact, right?

KARL PENHAUL, CNN CORRESPONDENT: Absolutely, Carol. It's certainly very different from the previous hostage videos we've seen. Alan Henning, of course, is the other Briton who is under threat of execution by ISIS and we saw him kneeling at the hands of this man that we know as Jihadi John waving a knife over him, pretty much like Steven Sotloff and James Foley before then. But the video with John Cantlie was very different. He was sitting at a desk, almost broadcast news style. His hands were not tied. He was free to move his hands around. And at one stage he said, oh, you may think that I'm making this statement because I'm a prisoner, and then kind of puts two fingers to his head as if to say, well, yes, I am a prisoner, of course. And he says, but what I'm going to be doing over the next few days, over the next few weeks is bringing you a series of programs, a series of reports to tell you about the truth of ISIS. So we're going to have to keep our eyes on really what the focus of that is, and how he is treated. But certainly in the case of Alan Henning, a taxi driver from northern England, there's a sense there that the clock is really ticking down for him.

(BEGIN VIDEOTAPE)

ALAN HENNING: It's worth it. It's all worthwhile when you see what is needed actually get to where it needs to go.

PENHAUL (voice-over): That was Christmas day last year, big-hearted taxi driver Alan Henning was taking aid from Britain to Syria.

HENNING: (INAUDIBLE) and everybody watching.

PENHAUL: He was the only non-Muslim in the convey. His fellow volunteers nicknamed him "Gadget." He was deeply admired.

Henning sacrificed Christmas, weekends and family time to do his bit for Syria. He was kidnapped by ISIS a day after that video was made. He's now under threat of eminent execution.

As the clock ticks down, those who made the trip with him are making this plea via YouTube to ISIS leaders.

UNIDENTIFIED MALE: Alan was moved by the suffering of the Syrian people, in particular the children, that he devoted all his free time in raising money and awareness. Please do not take his life to pay for the crimes that the international governments have committed. Alan ignored advice from the British government and took the risk to travel to Syria to help the people.

PENHAUL: And on Thursday, more than 100 British Muslim imams and organizations, including moderates and conservatives, issued a statement. Their message is part appeal, part condemnation of ISIS.

MUSTAFA FIELD, DIRECTOR, FAITH FORUM: The un-Islamic fanatics are not acting as Muslims but, as the prime minister as said, they are acting as monsters. They are perpetrating the worst crimes against humanity. This is not jihad.

PENHAUL: Mustafa Field, one of the organizers of the appeal, has a direct message to this man, the black cloud ISIS executioner known as Jihadi John, also believed to be British.

FIELD: John, we, as Muslims, are here to preserve life. We can't condition this barbaric action. Turn back, face justice, and repent.

PENHAUL: Those who travel to Syria with Henning have stayed clear of tough talk, adopting instead a softer voice.

UNIDENTIFIED MALE: Your prisoner, Alan Henning, traveled with us several times to Syria. On all occasions, we, your Muslim brothers, brought him with us under our care and protection.

PENHAUL: There may be sharp differences in tone, but all those now appealing to ISIS agree the cabbie with the heart of gold cannot be left to die.

HENNING: No sacrifice we do, it's nothing compared to what they're going through every day on a daily basis.

(END VIDEOTAPE)

PENHAUL: Now, of course, a lot of focus on Alan Henning and how to save his life now that he is under eminent threat of execution, but some of the focus also shifting to the new video showing British photojournalist John Cantlie, who appears to be announcing that he'll be making a series of reports over the coming days, although he himself says he doesn't know if he will be allowed to live or if he, too, will be murdered.

Carol.

COSTELLO: It's just so -- it's just -- it's as if ISIS has made this man its spokesperson. It's really eerie.

PENHAUL: It is very eerie to look at it, although certainly very different in tone to previous hostage videos because there is no executioner with a knife in that video. Also, we don't know if this is simply ISIS changing tactics, finding new ways to shock us or perhaps, if this is a scheme hatched by John Cantlie himself to try and prolong his life. A kind of a gamble to say, hey, let me do something for you and, in that sense, try and buy time. You know, we're just going to have to see how this one plays out, Carol.

COSTELLO: Karl Penhaul reporting live for us, thanks so much.

Still to come in the NEWSROOM, quiet day in Washington as lawmakers actually race out of town, just hours after approving the president's plan to arm the Syrian rebels. CNN's chief congressional correspondent Dana Bash has more.

DANA BASH, CNN CHIEF CONGRESSIONAL CORRESPONDENT: Carol, just a few moments ago there was a huge group of students behind me to probably come to see their Congress at work. The problem is, Congress isn't working today or for the next six weeks. We'll have more on that after the break.

(COMMERCIAL BREAK)

COSTELLO: All right, Vice President Joe Biden about to speak at a special conference going on right now. In fact, we're going to go there live now? There it is, it's the Women's Forum that's just began. The DNC Chair Debbie Wasserman Schultz is at the podium right now. Hillary Clinton, as well as Joe Biden, expected to speak at this event. Hillary Clinton, we expect to speak around noon Eastern Time. Of course when that occurs or when Vice President Joe Biden begins to speak, we'll go back to this event live for you.

In other news this morning -- in addition to Vice President Joe Biden, President Obama and Hillary Clinton, as I said, are also expected to take the stage at that event, in the meantime on Capitol Hill, the Senate has given the go ahead for the president to arm Syrian rebels. Thanks to the House that critical vote was tucked into the bill that would keep the government running. Well yesterday, CNN's Dana Bash asked Senate majority leader Harry Reid why the Senate wasn't having a standalone vote on ISIS? Let's just say he dodged the question.

(BEGIN VIDEO CLIP)

SEN. HARRY REID (D-NV), SENATE MAJORITY LEADER: It's a complicated issue. The House has acted. We got the bill last night and we're going to vote on what they sent us. I think it's important that we have the ability to arm and train the rebels. It's the way we're developing an international coalition and I feel comfortable where we are.

DANA BASH, CNN CHIEF CONGRESSIONAL CORRESPONDENT: Senator it looks like you're trying to hide this vote for the rank and file.

REID: Yes.

(END VIDEO CLIP)

COSTELLO: To be clear that yes, was the senator moving on to another reporter. He sort of like brushed Dana aside and moved on because he apparently did not want to answer the question.

So let's bring in CNN's chief congressional correspondent, Dana Bash. You did a lot of chasing around in Washington yesterday.

BASH: And there aren't any people to chase anymore, if you look around here, it's pretty empty, pretty lonely here at the Capitol this morning, because lawmakers went home to try to keep their job instead of staying here to do their job.

(BEGIN VIDEOTAPE)

BASH (voice-over): Congress racing for the exits. Cars line the parking lot waiting to whisk lawmakers away home to campaign for six weeks through Election Day.

Congressman -- BASH: Leaving a lot on the table, especially debate over a new authorization of military force against ISIS.

REP. CHAKA FATTAH, (D) PENNSYLVANIA: It is our agreement in the country that this ISIS group is a threat.

BASH: So then why not stay and debate it and not go home if your constituents believe there is a real threat?

FATTAH: I don't disagree. I'm prepared to vote yes on the use of military force. I'm not ducking any vote.

BASH: Any rank-and-file members are frustrated about bolting.

I get the importance of campaigning, but really, while all of this is going on in the country?

REP. JARED POLIS, (D) COLORADO: As if there's not enough to do. And it's not just the war issues. It's immigration reform, it's ENDA, it's a number of different bills.

BASH: There's a lot of blame tossed around. Republicans blame the Democratic-controlled Senate.

Why don't the Republicans who run the House stay, don't go home, don't go home to campaign, and work on that authorization? They have the ability to do it?

SEN. TED CRUZ, (R) TEXAS: Well, Dana, the problem is, that we have a do-nothing Senate.

BASH: Republicans also blame the president.

Why not stay here and debate an authorization for use of force, which is Congress's job?

REP. RICHARD HUDSON, (R) NORTH CAROLINA: Absolutely. I wish the president would ask for one.

BASH: And Democrats who run the Senate point to the House.

SEN. CLAIRE MCCASKILL, (D) MISSOURI: This tradition I think began of the House representative runs every two years. And for many, many years, the House has adjourned for the month of October.

BASH: Senator Susan Collins is up for reelection but in a safe seat and wanted to stay.

SEN. SUSAN COLLINS, (R) MAINE: My job is to be in the capitol working for the people of Maine and the American people. And that's where I think we all belong right now.

BASH: Lindsey Graham is also on the ballot and blunt about why they're leaving.

SEN. LINDSEY GRAHAM, (R) SOUTH CAROLINA: They seem to be more worried about who runs the place than how the place runs.

BASH: Senator before you get in your car, can I ask you a quick question?

UNIDENTIFIED FEMALE: Sure.

BASH: Freshmen senators are appalled.

UNIDENTIFIED FEMALE: We need to be here, we need to debate this issue.

BASH: But at this point, there's no reason to stay.

(END VIDEOTAPE)

BASH (on camera): Carol, there really is at this point broad bipartisan agreement that Congress does need to act to vote on a new authorization for military force against ISIS, but now that they're gone, that's not going to happen at least for two months, likely more. Carol.

COSTELLO: Alright, Dana Bash, great story. I enjoyed it, actually, in a sick kind of way. Dana Bash reporting live from Washington this morning. Let's talk more about this with CNN political analyst and editor-in-chief of "The Daily Beast," John Avlon. Welcome, John.

JOHN AVLON, CNN POLITICAL ANALYST: Good morning, Carol, wow!

COSTELLO: So John, if war can't keep Congress in Washington, what can?

AVLON: Apparently nothing. Just reality check here. These are government workers who get 200 days off a year. It's the least productive, least popular, Congress in American history. They probably spend more time fund-raising than legislating. It's really just a national disgrace.

COSTELLO: I couldn't agree more. We're about to arm the Syrian rebels and we'll talk about the rest later, that's apparently the message lawmakers are sending to America. Will it matter in the long run to voters?

AVLON: It should but I think frankly, our standards keep getting so low. We're surprised, frankly, when they do anything. And that's a happy surprise. I mean, you know, whenever this divided dysfunctional Congress does anything it's because the two leaders realize they've just got to shut down their own crazies and get something done with some outside urgency like the threat of war, war authorization, but the idea you can put off the details in issues of war and peace for two months is indicative of the culture up there. And Dana nailed in the that package. The issue is they want to spend more time keeping their job than doing their job and that's something that should make citizens angry in our republic.

COSTELLO: I know. So let's talk about that. Is it time to finally re-evaluate term length. Representatives serve two-year term which means they're constantly campaigning and raising money. Why not change things?

AVLON: Well, that's a complicated fix and I'm not sure it would have the intended effect. But the whole point about their spending so much time campaigning and fund-raising, the pursuit of money in politics really gets to the heart of it because they're spending all their free time fund-raising. These folks work long hours outside of Capitol Hill but they're dialing for dollars, they're not actually thinking about the big issues or doing their constituents' wishes or work so we desperately need election reform. We need competitive districts. There are only 35 competitive districts in the Congress right now. So these folks are just constantly preoccupied with winning primaries. So we need election reform to improve and make Congress more functional and less divided and have the capacity to reason together again. And adjusting the term, that's a long ball, may be a step towards the conclusion but it's not an easy quick fix, that one.

COSTELLO: Sadly, you're right. John Avlon, thanks for your insight. I appreciate it, as always.

AVLON: Thanks, Carol.

COSTELLO: I'm back in a minute.

(COMMERCIAL BREAK)

COSTELLO: You well know about the controversy surrounding the NFL and domestic violence and child abuse. Well, the White House has now weighed in on the matter, this from a Senior Administration Official and I'll read it to you right off my e-mail here. The official said the league needs to get a handle on the problems since so many professional athletes are considered role models to younger players. Obviously, as a general matter I think everyone would agree the most recent revelations by the NFL players is really deeply troubling and the NFL has an obligation not only to their fans but to the American people to properly discipline anyone involved in domestic violence or child abuse and more broadly getting control of the situation. Again, that's from a Senior Administration Official weighing in on the domestic violence and child abuse controversy surrounding the NFL. We'll have more for you on this later on CNN.

The next hour of CNN NEWSROOM after a break.

(COMMERCIAL BREAK)