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Thousands Wait In Line To Pay Final Respects To Queen; Tropical Storm Fiona Triggers Watches And Warnings In Caribbean; Michael Jordan 1998 Finals Jersey Sells For Record $10.1 Million. Aired 5:30-6a ET

Aired September 16, 2022 - 05:30   ET

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

[05:30:00]

NADA BASHIR, CNN REPORTER: And there are about at least 1,000 volunteers stewards and members of the Metropolitan Police service all along this queue, as well as first aid and ambulance staff across the queue which, of course, is stretching about five miles now, to ensure that this is moving in an orderly fashion and that all people in the queue are safe.

Because, of course, it is quite cold and many of the people here have been waiting overnight. We've spoken to some who traveled up and down the country, some traveling from overseas. We spoke to one lady who had traveled from Brazil just to be part of this moment of history.

And, of course, it is cold. People aren't allowed to bring very big bags with them, so they're not actually able to bring a lot of stuff with them to keep them going overnight. But for the vast majority of people that we've been speaking to, this is a moment of history that they were very keen to be a part of and an opportunity for them to pay their respects to the late queen.

Now we've had information from authorities confirming now that the queue will be paused for at least six hours because the end point of the line which is at Suffolk Park, which is still quite a ways away from where we are now, has reached capacity. So there is a pause now in place because there are simply so many people in line.

And actually, we've been speaking to one lady who has been in this queue for some time now. Claire, how long have you been waiting for?

CLAIRE, WAITING IN QUEUE: About half past 12 this morning we arrived. And then it's queuing backwards and forwards quite a lot, obviously, because there's so many people in the queue really.

BASHIR: So that's about 10 hours --

CLAIRE: Yes.

BASHIR: -- and you've still got a ways to go. How are you feeling about that?

CLAIRE: I've still got three hours left. I'm tired. They provided us with blankets and I didn't realize how cold it would get overnight. So, it is quite nice. But when you went to the park to get your wristband they gave you a blanket, so that was quite nice because it was really getting cold by then. Not realizing.

BASHIR: And why was it so important for you to do this -- to be part of this moment?

CLAIRE: It's just -- it's just massive for the English people -- my generation, especially. We grew up with the monarchy. Like, it's massive in England.

Like, it means so much to us. And for a lot of us -- me -- myself personally, it's thinking of my nan and my relatives I've lost, and how we used to sit and do scrapbooks with the -- about the monarchy. And, you know, papers and images, and put them in a book. And now, all of that is sort of rekindled again. And obviously, you think about things like that and take it to heart. So it's just important to be here.

BASHIR: Well, thank you so much, Claire -- thank you.

And Christine, really, this is the sentiment we have been hearing from so many people up and down this queue.

And for those who are in this position now who are at the back of the queue -- they also may have an opportunity to catch a glimpse of their new monarch, King Charles III, who will be standing vigil later this evening beside the queen's coffin in Westminster Hall just across the river from where we are now -- Christine.

CHRISTINE ROMANS, CNN ANCHOR: Wow. Watching history -- all those people waiting in line to live history. Thank you so much for that.

All right, Tropical Storm Fiona picking up steam and moving through the Caribbean. Several islands are under watches or warnings.

CNN meteorologist Derek Van Dam is tracking the storm for us -- Derek.

DEREK VAN DAM, AMS METEOROLOGIST: Yes, Christine, to be frank, it's nothing short of a miracle that Fiona has made its steady march across the central Atlantic. It's in a very volatile environment. You see all this brown located around the storm? That's Fiona right there. Well, that's dry air and a lot of wind shear that's kind of eroded the storm within the past six hours.

But we do not want to write this storm off just yet because some of the computer models hint at that continued strengthening and the potential for some impacts along the U.S. coast, potentially. Of course, we're monitoring that closely.

Here's a look at the watches and warnings. We have tropical storm warnings across the Leeward Islands. Puerto Rico, the British and U.S. Virgin Islands under storm watches. This is the latest -- 50 mile per hour winds. But again, it's very unorganized as we speak.

The storm center is actually further south than what we advertised yesterday, and that has major implications for the upstream forecast -- where this storm is actually going to head. Will it interact with land? It will certainly bring rainfall to Puerto Rico -- heavy rain, up to half a foot in some locations. Localized flooding possible. Hispaniola and Dominican Republic could see localized 10 inches of rain.

But here's the various computer models we look at and you can see some of them veering away from the Bahamas and veering away from the east coast of the U.S. But there are a couple of sneaky little numbers that are talking about the potential of more of a westerly shift. So we're going to keep a very close eye on that and if we have the potential for some U.S. impacts.

Nonetheless, the Atlanta tropics coming alive once again -- Christine.

ROMANS: All right, we'll continue to watch it.

VAN DAM: I will.

ROMANS: Thank you so much for that, Derek.

VAN DAM: You're welcome.

ROMANS: All right, a major grocery store chain scrapping self- checkouts. It seems too many shoppers are stealing. And it used to be all about pay but now, union workers have new demands for their bosses.

(COMMERCIAL)

[05:39:18]

(BEGIN VIDEO CLIP)

JOE BIDEN, PRESIDENT OF THE UNITED STATES: This is a win for tens of thousands of rail workers and for their dignity and the dignity of their work.

(END VIDEO CLIP)

ROMANS: President Biden, yesterday, announcing a deal to stave off a nationwide freight rail strike just hours before the deadline. Union leaders say the key issue for the 60,000 workers wasn't pay, it was sick leave. For the 15,000 Minnesota nurses who walked off the job Monday, the big issue was short-staffing. Forty-five hundred Columbus, Ohio teachers picketed last month, demanding better heating and air conditioning and decrying miserable classroom environments.

I want to bring in CNN global economic analyst Rana Foroohar. Rana, so nice to see you this Friday morning.

I think 2 1/2 years --

RANA FOROOHAR, CNN GLOBAL ECONOMIC ANALYST, GLOBAL BUSINESS COLUMNIST AND ASSOCIATE EDITOR, FINANCIAL TIMES (via Webex by Cisco): You, too.

ROMANS: -- into a global pandemic, workers are exhausted. They're being crushed by inflation. It feels like for the first time in a long time they have the upper hand and they're asking for things that -- it's not just pay, right?

[05:40:10]

FOROOHAR: Yes -- no, for sure, Christine. And it's so interesting that you're seeing teachers and nurses, in particular, at the forefront of these new demands because these are folks that, as we saw in the pandemic, essential workers. But are we treating them as essential?

We are seeing -- really, for the first time in 50 years, I would say -- a rebalancing of power between labor and corporations, between labor and capital. That's something very new and I expect it to continue. I think wages are going to go up and I think that you're going to see more demands for things like vacation, sick leave, and better treatment across industries.

ROMANS: Yes. Greg Valliere -- who, of course, watches Washington and Wall Street -- was saying you're going to hear companies -- or unions saying we want to be -- we want wages tied to inflation. We want 3- year contracts.

FOROOHAR: Yes.

ROMANS: We need some more certainty.

In the case of the rail union, those members will get a pay raise and cash bonuses. But it's not just about the money. Workers want better working conditions. They want the ability to be able to take a day off to go to the doctor, right? They wanted paid sick leave. So this is sort of a new phase I think for unions and companies.

FOROOHAR: I completely agree. And this is really the first time, arguably since the 1980s, that we've seen any kind of a major push on the part of labor to really change the way the working world works in America. I mean, we are so unique, Christine, as you know, just in the world. I mean, the amount of vacation or how little vacation we get in this country and the fact that a lot of people work overtime for no extra pay.

I mean, I think that there's a real pushback in America for labor and it's going to be really interesting to see where it goes. It's definitely going to add to inflation. It has to be (audio gap).

But I also want to make the point that when people say oh, gosh, wages are going up -- it's going to be bad for inflation -- well, labor recently has been seeing five percent increases overall. The things that make us middle-class -- housing, health care, education -- these things are going up at triple that rate.

ROMANS: Yes.

FOROOHAR: So I think putting a little more money in workers' pockets is not a bad idea. ROMANS: You know, there's one chart I think that sort of captures this mood, and that is the Consumer Price Index -- not to totally geek out on you but I know that you will like this chart, too -- and wage inflation. Wages are going up more than we've seen in years. But consumer prices are going up faster than that. And I think that gap there between those two lines is a real big part of the story.

FOROOHAR: One hundred percent. We all feel it every day in our wallets.

I mean, housing, in particular, is something I'm watching because OK, let's say you've gotten a five percent pay hike and a little more vacation at work. You still can't buy a house because house prices are up 20 percent year-on-year.

I mean, something's wrong in this picture and it has to change. And I have to say I -- you know, I'm just going to give a plug for the administration because I've been a big fan of Biden's "Work Not Wealth" slogan and some of the policies behind that. The idea that we need to balance an economy that has been based pretty much on asset hikes.

If your stock portfolio is doing well, great. If your house price is going up, great. But nobody's gotten a raise in real terms -- the average American -- in 20 years, until quite recently. And I think it's about time.

ROMANS: All right, Rana Foroohar. Have a great weekend. Thanks for dropping by this morning.

FOROOHAR: You, too.

ROMANS: All right, an epic flip-flop for an election denier who is now a Republican Senate hopeful. And growing support for a comeback for the two-dollar bill.

(COMMERCIAL)

[05:48:02]

ROMANS: Let's get a check on CNN Business this Friday morning.

Looking at markets around the world, Asian markets closed down. China retail sales rose, but COVID-19 outbreaks still dogging construction and manufacturing. Europe also a lower tone early on here.

On Wall Street, stock index futures also down here after this ominous warning from FedEx raising new alarms about the economy. FedEx parking some cargo aircraft, closing offices, reducing Sunday ground operations. FedEx grappling with higher fuel and labor costs and package delivery weakness in Asia and Europe.

It was a down day Thursday. The Dow fell 173 points. The S&P 500 and the Nasdaq fell by more than one percent each.

Retail sales rose 0.3 percent in August. Unemployment claims dropped to a 3-month low. And gas prices falling again, now $3.69 a gallon.

Mortgage rates are now the highest since 2008. From Freddie Mac, a 30- year fixed-rate mortgage averaging 6.02 percent this week, up from last week and more than double last year. Rates are rising but home prices remain high, too. The supply of homes for sale is limited. That combo making it less affordable to buy a home right now.

Wegmans is bagging its self-checkout app. It seems too many shoppers are skipping payments and helping themselves to a five-finger discount.

Let's bring in CNN Business reporter Nathaniel Meyersohn. A lot of us use these self-checkout apps and self-checkout stations. What's happening here at Wegmans?

NATHANIEL MEYERSOHN, CNN BUSINESS REPORTER: Right. So over the last few years, retailers have rolled out both self-checkout and self- scanning through the app where you go into the store, you have your phone, you're scanning groceries as you shop, and you're paying for it on the app.

Now, these have been really popular with shoppers. It saves them time. And also during the pandemic, people were looking to limit close interactions with store employees and other workers.

You think of Amazon. They've rolled out these Amazon Go, completely --

[05:50:02]

ROMANS: Right.

MEYERSOHN: -- self-checkout stores.

The problem is that technology has come with some unintended consequences for retailers. It's much easier to steal on the app than going through traditional checkout.

So, Wegmans, the popular grocery chain in the northeast, is ending its self-scanning app because too many people are stealing. The losses are too high for the company to continue it to make financial sense.

ROMANS: Interesting.

You know, one of the advantages of the self-scanning stuff is that it's good for the companies because it helps their labor shortage. But it doesn't help you labor shortage if you've got slippage problems on the other.

Talk to me a little about -- look, you can't get very much for a dollar these days. Inflation has made even the dollar stores the dollar and a half stores, essentially. Time to bring back the two- dollar bill?

MEYERSOHN: So, Christine, is it time to bring back the two-dollar bill and start using it again? Like you said, it's just about impossible to find anything for a dollar anymore. So you use the two- dollar bill. It could be more practical. It's lighter in your wallet than carrying around ones. It's cleaner because it's not used as much.

But throughout its history, since 1862, the two-dollar bill -- there are a lot of misconceptions around it. It was viewed as very unlucky early on. People used to cut off corners to -- they thought that would reverse the bad luck.

Today, people think they are rare and they're scarce. That's not true. The Treasury Department still prints them. They're still in circulation.

And I've spoken to some two-dollar bill ambassadors, and they are kind of two-dollar bill communities and subcultures that only use two- dollar bills.

ROMANS: Really?

MEYERSOHN: I spoke with a filmmaker who made a documentary a couple of years ago about two-dollar bills, and he said the two-dollar bill is completely underappreciated and that it -- not only is it practical because of inflation, but it's a form of social currency. If you go to the store and you use a two-dollar bill, the cashier is going to say where did you get this? I thought they didn't exist anymore.

ROMANS: That's funny. The culture around money even as so many of us are now just using our phone to pay for things anyway, but that's another store altogether.

Nathaniel Meyersohn, have a great weekend. Thanks for dropping by.

All right. Two planes carrying migrants sent to Martha's Vineyard by Florida Gov. Ron DeSantis. The motive behind that move. And Scotland Yard facing its biggest challenge ever, trying to secure the funeral of Queen Elizabeth II.

(COMMERCIAL)

[05:56:49]

ROMANS: All right, a big night of football. Amazon Prime's first Thursday night NFL game didn't disappoint as the Chiefs rally from an early 10-point deficit to beat the Chargers.

Andy Scholes has this morning's Bleacher Report. Good morning, Andy.

ANDY SCHOLES, CNN SPORTS CORRESPONDENT: Yes, good morning, Christine.

So, Amazon paying a billion dollars a year to have "THURSDAY NIGHT FOOTBALL" now on prime video. You know, great for those who already have Prime; not so great for many trying to explain to your parents or grandparents how to get the game on their T.V. But Al Michaels is now on Thursday nights with Kirk Herbstreit.

NFL commissioner Roger Goodell was on hand, sitting with Amazon founder Jeff Bezos for this one.

There was a second feed on Prime where you could actually watch the entire field with advance stats.

Now, third quarter, Chiefs were down 10. Patrick Mahomes buying some time and eventually finds Justin Watson for a 41-yard touchdown. And with the game tied in the fourth quarter, Justin Herbert picked off here at the goal line by Jaylen Watson -- a seventh-round pick -- setting an NFL record going 99 yards for the longest go-ahead fourth- quarter touchdown by a rookie in history.

The Chiefs scored 20 straight. They would hold on to win 27-24.

(BEGIN VIDEO CLIP)

PATRICK MAHOMES, KANSAS CITY CHIEFS QUARTERBACK: I want to go out there and win and I don't care how it looks. Tonight it was very ugly. I'm sure it's not going to have a great film session tomorrow. But we found a way to get a win at the end of the day and that's all I care about.

(END VIDEO CLIP)

SCHOLES: All right, just weeks after Serena may have played her last match, another tennis legend announcing his retirement. Roger Federer says next week's Labor Cup in London will be his last event.

(BEGIN VIDEO CLIP)

ROGER FEDERER, 20-TIME GRAND SLAM CHAMPION: But I also know my body's capacities and limits, and its message to me lately has been clear. I am 41 years old. I've played more than 1,500 matches over 24 years. Tennis has treated me more generously than I ever would have dreamt, and now I must recognize when it is time to end my competitive career.

(END VIDEO CLIP)

SCHOLES: Yes, Federer won 20 Grand Slams in his career and hands down, is going to go down as one of the greatest athletes of his time.

All right. It was a must-win game for the Connecticut Sun in game three of the WNBA Finals last night, and they certainly played like it. The Sun closing the first quarter on a 30-7 run, and they never let up after that. Alyssa Thomas, the first triple-double in finals history. The Sun handily beating the Aces 105-76 to force a game four on Sunday.

And finally, Michael Jordan's jersey from game one of the 1998 NBA Finals selling for a record $10.1 million overnight. Nineteen ninety- eight was, of course, the last of M.J.'s six Bulls championships. The $10.1 million price tag beats out Diego Maradona's Hand of God jersey from the 1986 World Cup that sold for $9.28 million back in May.

Christine, one jersey more than $10 million. It actually got double what they were expecting --

ROMANS: Wow.

SCHOLES: -- when it went for auction. ROMANS: I lived in Chicago during that era and I've got to tell you, those were good days when the Bulls were in town.

SCHOLES: Yes. And, you know, the last dance really pumping up that story, too --

ROMANS: I love it.

SCHOLES: -- so I'm sure that helped.

ROMANS: All right, Andy, nice to see you. Have a great weekend.

SCHOLES: All right -- you, too.

ROMANS: Thanks for joining us. I'm Christine Romans. "NEW DAY" starts right now.

BRIANNA KEILAR, CNN ANCHOR: Playing politics with human.

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