Progress in DC & Tips for Travel Chaos with The Points Guy 11/10/25

Summary

Squawk Pod - Episode Summary

Episode: Progress in DC & Tips for Travel Chaos with The Points Guy
Date: November 10, 2025
Podcast: Squawk Pod by CNBC
Hosts: Joe Kernen, Becky Quick, Andrew Ross Sorkin
Key Guests: Emily Wilkins (Capitol Hill reporter), Don Peebles (Real Estate Developer), Contessa Brewer (CNBC Reporter), Brian Kelly (The Points Guy)

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Episode Overview

This episode dives into the latest federal government shutdown negotiations in Washington and the effects on travel chaos in the U.S. It covers the political dynamics behind reopening the government, the economic and demographic shifts in New York and Florida, a major sports betting scandal, and provides real-world travel advice amidst nationwide flight cancellations with expert Brian Kelly.
The tone is lively, candid, and at times irreverent, reflecting the show's typical mix of analysis and banter.

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Key Topics & Insights

1. Progress on Ending the Government Shutdown

(02:36 – 09:41)

• Senate Breakthrough: After more than 40 days of shutdown, eight Senate Democrats crossed the aisle, joining Republicans to advance a funding measure.

  • Emily Wilkins: "Congress has broken through the logjam and they now appear to be on this glide path to reopen the government ... hitting that 60 vote threshold." (03:16)
  • The bill funds essential programs (SNAP, agriculture, veterans affairs) for FY2026, with some programs extended only until January 30.

• Back Pay and Health Tax Credits: It reverses attempted firings, secures back pay for federal workers, and promises a vote on healthcare tax credits in December.

  • Andrew Ross Sorkin: "This health care crisis is so severe ... I cannot in good faith support this CR that fails to address the health care crisis." (04:43)

• House Dynamics: The House is still needed to seal the deal; urgency and political posturing continue.

  • Becky Quick: "Why doesn't the House come back now? Because the additional days that it's going to take ... like, hello, come back, put this together." (06:19)
  • Senators like Rand Paul may still pose a threat to speedy passage.

• Political Maneuvering: Senators seeking "cover" for votes, left-wing Democrats frustrated by limited health care progress.

  • Joe Kernen: "Any of the other ones that want to pretend that they're, you know, just holding firm. So if Rand Paul went, they'd easily get one of those other ones ... they're folding." (05:50)
  • Becky Quick: "You can't hold your party together. You can't maintain it. I don't know why you would go around saying, we're going to fight this." (09:44)

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2. Travel Chaos & FAA Actions

(06:46 – 09:41, 30:24 – 38:36)

• Private Jet Restrictions: FAA bans most private jets from 12 major airports to address air traffic controller shortages.

  • Joe Kernen: "The faa ... is going to prohibit most private jets at 12 major airports amid air traffic controller shortages." (07:02)
  • Jokes about public figures having to fly commercial stir laughter.

• Airline Cancellations and Delays: Major disruptions continue, with travelers left to navigate minimal communication and support.

  • Becky Quick: "Good luck getting on a plane. They're all canceled. That's why I'm here." (06:37)
  • Brian Kelly: "More than 50% of flights were delayed or canceled yesterday ... we're hearing horror stories, you know, 50 planes in line to take off at LaGuardia and then at the last minute crews timing out." (32:00)

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3. Advice for Travelers with The Points Guy, Brian Kelly

(31:38 – 38:36)

Travel Tips and Cautions:

• Stay Proactive & Use Tech:

  • "There's a great app called Flighty ... Often they'll alert you before the airline does. The airline email systems are overwhelmed." (32:50)
  • "Your flight may be canceled, but don't assume the airline is going to even notify you, let alone rebook you." (01:37, 32:50)

• Refunds Over Vouchers:

  • "If you don't want to travel, don't take a voucher, take the full refund. DOT rules. Even if it's for the shutdown, take the refund because, you know, cash is better than any airline." (33:13)

• Impacts of the Shutdown Lasting Weeks:

  • "Remember, air traffic controllers and TSA agents still aren't getting paid ... it's going to be a while before we're back to normal." (30:24, 34:06)

• Book Backup Options Using Points:

  • "Always say book a secondary option on another airline, especially using your points ... you can cancel and get your points back free of charge up until departure." (35:02)

• Practical Survival Strategies:

  • "Go to the bathroom before the plane takes off for a taxiway ... it's two, three hour wait times and they will scream at you if you get up." (35:47)
  • "If it's a 10 or 12 hour drive, you should drive instead of flying." (34:41)
  • "For sure take Amtrak on the east coast. When you can just take Amtrak always." (36:38)

• On Flight WiFi and Fees:

  • "Should you be trying to get a refund? Absolutely. Always just do the refund." (37:08)
  • "I had Starlink recently on Qatar Airways. United is rolling out. It's unbelievable, too, apparently." (37:27)

Humorous Moment:

• "People are joking of getting Depends, you know." (36:21 – Brian Kelly, on passengers stuck for hours waiting to take off or deplane.)

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4. The Democratic Party's Identity Crisis – Don Peebles Interview

(19:06 – 30:07)

• Peebles' Political Evolution: Once an Obama fundraiser, now feels adrift, saying:

  • "My party has left me because they've got ideals and things that don't reflect my beliefs. I'm not a socialist. I believe in a free market system." (17:04, 29:27)

• Migration Trends:

  • "The volume of interest is picking up rapidly for condos and single family homes in Miami and Palm Beach and Broward county." (01:58, 19:51)
  • Cites a "great migration" of businesses and individuals from NY to Florida/Texas.

• Democratic Party's Future:

  • "I think the Democratic Party is in danger of becoming a long term kind of protest minority party." (21:57)
  • Suggests Democrats can't win nationally with far-left candidates, need moderates to attract swing voters, but primary process makes this difficult.

• On Wealthy New Yorkers Leaving: "45,000 taxpayers pay nearly 50% of the income taxes in New York City. So it doesn't take much of a shift to change that ... It's already changed. That's why they're struggling with their budget right now." (28:21)

• California & National-Level Politics:

  • On Gavin Newsom: "I don't think that California is a success story anywhere in the country. Even in California, it's not a success story. So I don't think you have a platform to run on." (25:19)
  • Calls for a "mirror of Ronald Reagan" moderate Democrat, but doubts their ability to survive the primary process due to the progressive base.

• Regulatory Concerns:

  • "The private sector has to lead, but it can't be handcuffed with absurd regulations. And by the way, I think that's a bigger threat to New York City ... the city council in New York City, it's further left than Mamdani." (29:27)

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5. Sports Betting Scandal in Major League Baseball

(12:17 – 16:43)

• The Story: Two Cleveland Guardians pitchers, Emmanuel Clase and Luis Ortiz, indicted for pitch-fixing to benefit gamblers.

  • Contessa Brewer: "Prosecutors say over the last two years, the players telegraphed their pitches to conspirators, who then bet on the pitches and profited, sharing the winnings." (12:17)
  • The scheme includes large parlay bets and explicit communication during games.

• Industry Concerns:

  • "It's this betrayal of the sport that so many people love that is raising concerns about how fast, how widespread sports gambling has become." (02:15, 15:12)

• Systemic Problem: Leagues may need to reconsider the types of bets offered, as micro-betting enables this abuse.

  • Contessa Brewer: "Can we have a bet available ... that he's going to miss the kick? ... Can it just be to make a field goal?" (15:45)

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Notable Quotes & Memorable Moments

• On Travel Chaos:

  • Brian Kelly: "Your flight may be canceled, but don't assume the airline's gonna even notify you, let alone rebook you." (01:37)
  • Becky Quick: "Good luck getting on a plane. They're all canceled. That's why I'm here." (06:37)
  • Brian Kelly: "People are joking of getting Depends, you know." (36:21)

• On Party Politics:

  • Don Peebles: "My party has left me because they've got ideals and things that don't reflect my beliefs. I'm not a socialist. I believe in a free market system." (17:04, 29:27)
  • Joe Kernen: "The parties moved. Not Don Peoples. Is that or a little bit of both?" (29:08)

• On Sports Betting Scandal:

  • Contessa Brewer: "I really think it's this betrayal of the sport that so many people love that is raising concerns about how fast, how widespread sports gambling has become." (15:12)

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Timestamps for Key Segments

| Segment | Start (MM:SS) | End (MM:SS) | |-----------------------------------------------|--------------|--------------| | Government Shutdown Update | 02:36 | 09:41 | | FAA & Private Jet Restrictions | 06:46 | 09:41 | | Trump’s Tariffs & Healthcare Postings | 10:07 | 11:46 | | MLB Sports Betting Scandal | 12:17 | 16:43 | | Don Peebles on Demographics & Dems’ Divide | 19:06 | 30:07 | | Travel Advice with The Points Guy, Brian Kelly| 31:38 | 38:36 |

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Conclusion

This episode provides a comprehensive, on-the-ground view of how D.C. gridlock and policy debates continue to ripple through the U.S. economy, from grounded flights to shifting political allegiances and public trust in sport. The travel advice is timely and essential as travelers confront uncertainty, and political commentary from Don Peebles offers a candid look at the volatile state of both parties and national migration trends. The entire discussion reflects Squawk Box’s signature blend of actionable insight, pointed debate, and wry observation.

Transcript

[Commercial Narrator]

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[Podcast Sponsor Announcer]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] MarketUpdatePodcast or find Schwab Market Update. Wherever you get your podcasts.

[Joe Kernan]

Bring in show music, please.

[Cameron Costa]

This is Squawkpod and I'm CNBC producer Cameron Costa. On today's episode, one step closer to ending the shutdown. But lawmakers still have a long way to go through the Senate and then the House.

[Becky Quick]

Why doesn't the House come back now? Hello. Come back. Put this together.

[Cameron Costa]

And finally, the president's desk. The shutdown's impact won't end with a resolution, though. Flight cancellations and staffing shortages are grounding travelers across the country. What you need to know for your travels with the points guy, Brian Kelly.

[Brian Kelly]

Your flight may be canceled, but don't assume the airline's gonna even notify you, let alone rebook you. Often you have to go in and.

[Cameron Costa]

Select then where Democrats go from here. Once a fundraiser for President Obama, real estate entrepreneur Don Peebles is adrift from his own party. But he's ready to receive New York, who are fleeing to Florida.

[Don Peebles]

The volume of interest is picking up rapidly for condos and single family homes in Miami and Palm beach and Broward county.

[Cameron Costa]

Those conversations plus two MLB pitchers charged with taking bribes. CNBC's Contessa Brewer has the story on the scandal.

[Contessa Brewer]

It's this betrayal of the sport that so many people love that is raising concerns about how fast how, how widespread sports gambling has become.

[Cameron Costa]

All that and much more this Monday, November 10th. Squawk Pod begins right now.

[Don Peebles]

Stand Becky by in three, two, one.

[Becky Quick]

Good morning, everybody. Welcome to Squawk Box right here on cnbc. We are live from the NASDAQ market site in Times Square. I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin and happy Monday.

[Joe Kernan]

Three fifths of the Senate duly chosen and sworn. Having voted in the affirmative, the motion upon reconsideration is agreed to.

[Andrew Ross Sorkin]

Now let's get you caught up on what's going on in Washington over the weekend. The Senate now taking a first step towards ending that more than 40 day now long government shutdown. Emily Wilkins is. I don't know if you slept for the last 72 hours.

[Don Peebles]

Where are we?

[Emily Wilkins]

Well, Andrew, we have a breakthrough we've brought. Congress has broken through the logjam and they now appear to be on this glide path to reopen the government. Now what happened last night is eight Senate Democrats, we've been looking for that number for the last 40 days. They joined with Republicans to take that first steps to pass a funding bill finally again hitting that 60 vote threshold. And look, there are going to be a few more votes in the Senate. We got to have at least one more vote in the House. But at this point, the shutdown could be done within the next couple days and within the next week. Now the agreement that they put together, it funds part of the government, including things like SNAP agriculture, veterans programs for the rest of the 2026 fiscal year for the rest of the government and continues funding until January 30th. It also goes ahead and reverses those attempted firings of federal employees during the shutdown, make sure that all federal employees are going to get their back pay. And Democrats have been promised a vote on extending, extending those health care tax credits by the second week of December on a bill of their choosing. And while again these eight Democrats, they've said the deal on the table right now, it's the best they were going to get, others within their party, including Senate Minority Leader Chuck Schumer, were livid that the shutdown is going to end with no concrete deal on those health care tax credits.

[Don Peebles]

I must vote no.

[Andrew Ross Sorkin]

This health care crisis is so severe.

[Podcast Sponsor Announcer]

So urgent, so devastating for families back.

[Andrew Ross Sorkin]

Home that I cannot in good faith support this CR that it fails, that fails to address the health care crisis.

[Emily Wilkins]

The Senate will meet today to keep moving this package forward. The House is also expected to return this week. And they of course they're going to need to pass the Senate agreement before this is over, guys.

[Andrew Ross Sorkin]

So in terms of timing, what does this actually look like to you?

[Emily Wilkins]

So Andrew, this could go very quickly as long as you have agreement from every single senator that they want this to end soon. And we have already heard Senator Rand Paul has some concerns with the bill. Remember, he's that one Republican who has voted no. He could potentially hold things up. Really any one senator could. But a lot of the senators also recognize that there is a lot of pain between the flights, between federal employees not getting paid, between all the back and forth we've seen with food assistance. House meanwhile, they've been told that They've got a 36 hour time window in which they could be called back and they are expected to be called back at some point this week. So I would say things, anything can happen. But right now, safe bet that this is done by Friday.

[Joe Kernan]

That's Emily. The Republicans thought 10 to 12 Democrats are going to go for it. But as usual, most of them wanted cover and so they got exactly the number they needed. Some of them are retiring or not running for reelection. But any of the other ones that I don't know want to pretend that they're, you know, just holding firm. So if Rand Paul went, they'd easily get one of those other ones that think they want to do it. Obviously they're going to reopen the government. Finally. They're folding.

[Becky Quick]

Why doesn't the House come back now? Because the additional days that it's going to take to open this up at this point, like hello, come back, put this together.

[Emily Wilkins]

And I mean Becky and is Joe right.

[Brian Kelly]

Now.

[Joe Kernan]

They thought they were getting 10. They thought they were getting 10 to 12.

[Becky Quick]

Good luck getting on a plane. They're all canceled. That's why I'm here.

[Emily Wilkins]

That's why they're driving now.

[Joe Kernan]

But that's the next story. Now it's getting serious.

[Andrew Ross Sorkin]

This next story because of the private plane. Yes, we discussed this last week.

[Joe Kernan]

That was my idea. Let's get. Let's, let's.

[Andrew Ross Sorkin]

But you were pushed in Teterboro, which was actually the wrong. I actually thought about it afterwards. Teterboro was the wrong call. What they're doing here is the right call. We can anyway explain to the audience.

[Joe Kernan]

The faa, this out in the last hour is going to prohibit most private jets at 12 major airport amid air traffic controller shortages. Flight reduction ordered last week did not include private flights. A business aviation trade group said in a statement that the new restrictions will effectively prohibit business aviation at those 12 airports on the list, Chicago, O', Hare, JFK, Newark Liberty, LAX and Reagan National. My idea, Becky, was you get Liz Warren and Bernie Sanders having to fly commercial and that's going to end very quickly. You're going to. And then the other thing, Andrew, which you didn't think about the big climate change conference starting today down in Brazil, no one will be able to get there. None of the climate changers will be able to get down to Brazil without taking their private jets and parking them all in the that's all. That's my commentary. I know it's Monday. Come on, lighten up. What's your. How's your O ring? Is it okay?

[Andrew Ross Sorkin]

My O rings okay.

[Joe Kernan]

Okay. All right.

[Andrew Ross Sorkin]

So they did. What I was thinking about was how.

[Joe Kernan]

Do you get back here without Delta?

[Andrew Ross Sorkin]

Delta did great.

[Joe Kernan]

Done. Delta have a private jet unit. It's got, like, wheels up or something.

[Andrew Ross Sorkin]

Delta out of Austin was. Was doing great.

[Joe Kernan]

Were you in 1A or. I mean, where.

[Andrew Ross Sorkin]

No, I was not 1A.

[Don Peebles]

2A.

[Joe Kernan]

Yeah. You don't like the bulkhead. I was in 4D.

[Andrew Ross Sorkin]

No, what we were thinking about last week, we were talking about.

[Brian Kelly]

Yeah.

[Andrew Ross Sorkin]

Shut down. The truth is. Shutting down. Teeter. We're actually. I was thinking. Doesn't help.

[Joe Kernan]

Tell me why.

[Andrew Ross Sorkin]

No, because those air traffic controllers can't actually be. You can't shift them overnight to some other airport. Somehow it's going to help them. So the better move is to do this, which is to effectively out of the big airport.

[Joe Kernan]

This was our idea. So I don't know whether they're watching.

[Andrew Ross Sorkin]

We can only hope. We can only hope they were watching us on Friday.

[Becky Quick]

The ridiculousness of this entire situation at this point.

[Joe Kernan]

You want.

[Becky Quick]

Did you please go back to work? And Hakeem Jeffries totally ticked me off. He said they're going to fight it in the House.

[Joe Kernan]

At this point, when it comes back to the House, here's. I was asking, could one good man or woman step up John Fetterman. After 40 days as a consistent voice against shutting our government, I voted yes for the 15th time. Reopen. I'm sorry. To our military, our SNAP recipients, our government workers, our Capitol Hill police who haven't been paid in weeks. It should have never come to this. This was a failure. So he's. I don't know where he's. He's going to be walking around that the Senate floor and people are going to be like this. He's going to have to go. Come.

[Becky Quick]

Part of the problem, even with this bill that Emily was talking about this morning, is it funds things through, like, January 30th or something, but it does fend some places for a year, including Congress. So they're not going to feel the pain if there is a shutdown. That comes again after this.

[Joe Kernan]

What about. I think Schumer's toast.

[Becky Quick]

You can't hold your party together. You can't maintain it. I don't know why you would go around saying, we're going to fight this.

[Joe Kernan]

The left flank is furious. Chris Murphy has lost his mind.

[Becky Quick]

Why? What did he say, oh, he's just.

[Joe Kernan]

Been through all of this. Connecticut, is it that blue? I guess it is, huh? Yeah, that's what they want in their elected people, I guess.

[Commercial Narrator]

All right.

[Becky Quick]

President Trump meantime, praising his administration's tariffs and questioning whether the Supreme Court has the power to restrain his ability to impose them. The president posting about this on Truth Social on social media over the weekend after several Supreme Court justices seemed skeptical of the administration's tariff arguments. Last week, Trump said that the idea that a president could halt all trade with the country yet still be restrained from putting tariffs on it was, in his words, ridiculous. Earlier he called people who are against tariffs fools and said a dividend of at least $2,000 a person, not including high income people will be paid to everyone.

[Andrew Ross Sorkin]

Meantime, we are watching shares of health insurance companies. President Trump slamming the industry over the weekend on Truth Social as well on Saturday morning. Here's what he said. He said, I am recommending to Senate Republicans that the hundreds of billions of dollars currently being sent to money sucking insurance companies in order to save the bad health care provided by Obamacare be sent directly to the people so they can purchase their own much better health care and have money left over. This was posted more than a day before the Senate reached a deal on the beginnings of that process to reopen the government. Obamacare subsidies were one, of course, of the chief sticking points throughout those negotiations.

[Joe Kernan]

Republicans always fall back on that when they say that you don't have a plan. They always come up with these health savings accounts that that's the way you should do. You should have the money from private insurance companies. You can buy it wherever you can get it and get a good deal, shop around and do what everyone else does.

[Becky Quick]

That sounds like mass chaos too. There don't seem to be, can't be.

[Joe Kernan]

Any worse, can't be any worse than the unaffordable care.

[Becky Quick]

There don't seem to be many great solutions to any of this, at least.

[Joe Kernan]

Not in the immediate term. If you had money, what I'm worried, I mean you'd have, you got to spend it on that. That's my immediate concern. It'd be in one of those accounts. I mean you can't just send out, you can't send out money, expect people, it's like, well, maybe I feel pretty good, I might go, I might go on vacation. You need to spend it on health care if you're going to be doing this. Another sports betting scandal has erupted, this time in Major League Baseball. Contessa Brewer joins us now with more Good morning.

[Contessa Brewer]

Good morning. Yeah. Federal prosecutors have indicted two Cleveland Guardians. Pitchers Emmanuel Clase and Luis Ortiz are accused of rigging their pitches to allow betters to profit in a scheme worth nearly half a million dollars. Classes Star is a star closer, and Ortiz is a starting pitcher, both from the Dominican Republic and both facing a slew of federal charges, conspiracy related to wire fraud, money laundering, and more. Prosecutors say over the last two years, the players telegraphed their pitches to conspirators, who then bet on the pitches and profited, sharing the winnings with Class A and Ortiz. For example, in a game against the Red Sox in June 2023, prosecutors say class A arranged to throw a ball with a pitch slower than 95 miles an hour, and they included this image in the indictment of the ball hitting the dirt. And they say the bettors won $58,000 because of that pitch. Though the MLB restricts cell phone usage, prosecutors say they busted Klase using his phones during the games, with bettors asking if they're ready. The scheme wasn't always successful, though. Prosecutors outlined one game where bettors wagered about 16 legs of a park parlay on a pitch. They wanted big money, but the batter actually swung at a pitch that was supposed to be a ball, resulting in a strike and breaking the parlay. Kase allegedly texted a sad puppy dog emoji. Similar accusations against Ortiz. He was arrested in Boston yesterday. He scheduled for federal court there today. His lawyer says Luis Ortiz is innocent of the charges related to two pitches he threw. He's never would never improperly influence a game, not for anyone and not for anything. Klasse is not in US Custody, though authorities did not explain his whereabouts. But in a statement, his attorney said emmanuel Clase has devoted his life to baseball and is doing everything in his power to help his team win. Emanuel is innocent of all charges and looks forward to clearing his name in court. Now, MLB and the Guardians have both said they have cooperated with investigators and they are doing their own investigation, but the players association is not commenting on the matter. The U.S. attorney says they defrauded the online betting platforms where the bets were placed, and they betrayed America's pastime. And I really think it's this betrayal of the sport that so many people love that is raising concerns about how fast, how widespread sports gambling has become. But what the experts in this industry and those who came and have expertise in Europe will say, this has been going on as long as sport has been going on. There has always been gambling on sport. It's just that now it's much more transparent and you can spot the aberrant behavior in ways that you couldn't.

[Joe Kernan]

You don't just mean gambling, but you mean fixed gambling.

[Contessa Brewer]

Yeah, even fixed gambling. But.

[Joe Kernan]

But because you're allowed to gamble. Don't do that.

[Contessa Brewer]

I just think that a lot of people.

[Joe Kernan]

You mean there was always the opportunity to try to rig the game even with. If it was. With.

[Contessa Brewer]

Even when it wasn't legalized gambling.

[Joe Kernan]

Right.

[Contessa Brewer]

There were bookies that you went to, there were pools that you were part of. You could yourself, you could wager on sports if.

[Becky Quick]

Yeah, but there's so much more money now and that creates not only more opportunity but more incentive for people to do something alongside.

[Contessa Brewer]

And the leagues are taking notice. They're standing up and going, look, does it. Do we really have to have a bet available on a kicker in a football game that he's going to miss the kick? Can it just be to make a field goal?

[Joe Kernan]

Yeah, a pitch in the dirt. I mean it's. But it sounds like it's part of parlay, as you said. So it would break the parlay if that one didn't work. It's not a single bet.

[Contessa Brewer]

No. Some of them were single bets, but on micro bets, just on the pitches, not on the game outcome itself. They're on individual in game pitches where you're making money like that.

[Becky Quick]

And I mean that's. The league's signed off on this stuff. They've got to be rethinking all of it.

[Brian Kelly]

Now.

[Contessa Brewer]

I think that they're not rethinking the overall idea, but you can put along. Yeah, I think there's too much money at stake to rethink the whole kit and caboodle.

[Becky Quick]

Yeah, but the idea that you can bet on so many things like the gambler's anonymous sort of way of looking at life. Yeah, that's a lot. Thanks, Contessa.

[Joe Kernan]

Sure. Cheese will be next.

[Cameron Costa]

Coming up on Squawk Pod, the future of the Democratic Party. Fresh off major wins in off year elections and a messy compromise deal to end the government shutdown. It's complicated. We speak with a former fundraiser for President Obama, Don Peebles. What he says might surprise you.

[Don Peebles]

My party has left me because they've got ideals and things that don't reflect my beliefs. I'm not a socialist. I believe in a free market system.

[Cameron Costa]

Plus, the longtime Florida resident points out the Sunshine State is welcoming New Yorkers with open arms and naturally open wallets.

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[Podcast Sponsor Announcer]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] market update podcast or find Schwab Market Update wherever you get your podcasts.

[Andrew Ross Sorkin]

This is Squawk Pod up and Andrew Q. You're watching Squawk Box right here on cnbc. I'm Andrew Ossorkin along with Joe Kernan. Becky Quick on this Monday morning, the.

[Joe Kernan]

Election of Zoran Mamdani as New York City's next mayor, raising some concerns that wealthy New Yorkers will leave the city. Joining us now is Don Peebles, the Peebles Corporation CEO and Chairman. Don it's been a while. How you doing?

[Don Peebles]

How are you?

[Joe Kernan]

I'm good. The gray hair is not just from Mamdani, I don't think, is it? And the drift of the Democratic Party, that was there, that's, that's been coming in for a while.

[Don Peebles]

Coming in for a while. It's been a gradual process, as you know, since really 2008. Right.

[Joe Kernan]

As you know. As you know. As you know, I do know. So, John, the first thing we saw was he's already been named Realtor of the year in Miami Beach. Is that true, Mom?

[Don Peebles]

DONNIE Absolutely. And more awards to come because there's more of a migration coming down the South Florida. In fact, I'm in Miami right now and I got some numbers on Friday and we're seeing these trends now. The volume of interest is picking up rapidly for condos and single family homes in Miami and Palm beach and Broward county and I expect to see more on the west coast. I'm going there to look at a couple of projects out on the west coast of Florida as well. So there's going to be a great migration coming down to South Florida and to Texas. I think Dallas is poised to pick up a lot more business. JP Morgan, Goldman, Fortress Guggenheim and other investment firms have moved major operations to Texas to Dallas.

[Joe Kernan]

Donna, I think I saw you on another network that shall not be named here, but I was a little bit surprised and it almost looked like some of your views had shifted in light of some of the recent drift of, of your party, of the Democratic Party. You were one of President Obama's big, big supporters. You even say that's when it started moving left and now it's kind of just out of control.

[Don Peebles]

Yeah, I think that Obama was a shift from Bill Clinton was a moderate Democrat and today he would be a Republican. And Obama was a shift from him to a much more moderate, from a moderate Republican into more of a left leaning Democrat. And that's when it started. And interestingly enough, by the way, the reason I think that Mondami was so successful politically is he had the same head of ground operations that we had with Obama, Patrick Gaspar. So Patrick ran President Obama's campaign on the ground game and they had record turnouts, especially for minority voters and urban centers. And if you look at what happened with Mamdani, it was the turnout that brought him to the promised land in terms of his victory.

[Joe Kernan]

So what are you a man without a country now, Don, where do you land at this point?

[Don Peebles]

Well, you know, there's a growing number of us. I think that, look, I think that the Republican Party in many ways espouses a pro business environment, one that resonates to entrepreneurs like myself. And then I think the Democratic Party is a party of inclusion. But I think they've lost their way now and, and it's been hijacked. I've talked about this a bunch of times that the far left has hijacked the Democratic Party. And so many of us now feel like, hey, we're, we're Democrats, but we're old time Democrats and the Democratic Party of today is leaning more towards socialism. And clearly I'm a capitalist and, and our democracy is based on capitalism. So I think that the Democratic Party is in danger of becoming a long term kind of protest minority party. And when I mean minority, I mean just a shrinking number of voters.

[Andrew Ross Sorkin]

But Don, if you think about, look, there's Mandami on one side of It, I get that. But then you got, you know, Gavin Newsom on the other. I'm sorry, don't. I'm just saying, I'm saying of the.

[Joe Kernan]

People he represents, someone moderate, Gavin Newsom.

[Andrew Ross Sorkin]

I mean, the truth is, I would think on a relative basis to mom, dummy, you would say he's a capitalist.

[Joe Kernan]

On a relative basis.

[Andrew Ross Sorkin]

Look at all the big tech companies that have been developed in California.

[Joe Kernan]

I wasn't laughing at you. I was laughing at you.

[Andrew Ross Sorkin]

It Don.

[Joe Kernan]

Gavin.

[Don Peebles]

Well, I think what happened is after Mike Bloomberg and Mike Bloomberg was much more of a moderate stabilizing influence for New York after, after he left in and Bill de Blasio came in, it just disrupted the economic system in New York and made it more painful for those who are at the bottom end of the economic system and those who are at the middle of it struggling. And those voters did not vote for Eric Adams. They voted for Maya Wiley. And now they had a chance. They were more mobilized and they voted for Mamdani. And it's not him. It's the idea that this is not working in New York and this and the same old politics of the past aren't working. Ultimately, by the way, I think that this is going to affect New York State too. I think Kathy Hochul is in a world of trouble because I think that the rest of the state is saying, what the heck is going on in New York City? And I think you're going to see a shift there. I think she's going to have a tough battle to get reelected.

[Andrew Ross Sorkin]

Oh, you think, hold on. You think the state turns towards Mondavi or you think the state turns towards her? Because she's already saying in the past 48 hours, you know, we're not doing free buses necessarily. Maybe we'll do some kind of program for people, you know, who, low income people who need, who need help to get on the bus. But we're not doing some of these things.

[Don Peebles]

Well, she's the epitome of a politician who speaks out of both sides of their mouth. So she's out there in Puerto Rico saying how Mondami ran the most transformative campaign and then is now trying to walk it back a little bit. The end of the day is it'll go. I think a Republican candidate that's moderate will have a tremendous opportunity to unseat her if she is a Democratic nominee. I'm not sure she gets to be the Democratic nominee.

[Joe Kernan]

Don, is Gavin news. I mean, just back to that. Is he the kind of person that should be talked about as the leader of the Democratic Party, what does he have to run on in California?

[Becky Quick]

Is it him? Is it Schumer? Is it.

[Joe Kernan]

No, it's Shapiro. I mean, can I put in Shapiro's name? Someone like that, maybe. I can't imagine the country would embrace Gavin Newsom.

[Don Peebles]

No, look, I think Gavin Newsom's moment to become president passed. I think he should have run against Biden for the Democratic nomination. And in fact, I encouraged him to do it, and he didn't want to do it. And, you know, being president is about timing, too, and about where the country is moving to. I don't think that California is a success story anywhere in the country. Even in California, it's not a success story. So I don't think you have a platform to run on.

[Joe Kernan]

You think the pendulum can swing back?

[Andrew Ross Sorkin]

I agree with you.

[Joe Kernan]

I think maybe, and I wouldn't call Spamberger necessarily that. That conservative or even Mikey. Cheryl. But that's sort of like the new. Sort of the what. What moderate Democrats are holding up as the future. They're not holding up AOC and Bernie, and.

[Becky Quick]

But can they win without that part of the party? I mean, the Democratic Party is very strong.

[Joe Kernan]

Geographic center seems to be over there, far left. Don, which is why you, you know, you look horrified. When I saw you on that other network, I was like, wow, I think I know that guy.

[Becky Quick]

If the Democrats nationally put up a moderate candidate, do you lose the ability to get the turnout?

[Don Peebles]

Well, ultimately, I think the Democrat candidate that's successful nationally is. Is the mirror of Ronald Reagan. Ronald Reagan got elected in 1980 by being moderate, by. By appealing to Democrats and independents as well as Republicans. And so the difference is, is that a Democrat like that has difficulty getting through the primary because of these coastal states like New York and California. But as things shift because of the great economic pain that these states are enduring and will continue to endure, and they will get worse. I think that there will be a growing number of Democrats that will look elsewhere. I think. I think that where things are going right now, I think that I'd have to say that the Republicans have a much better chance of holding on in the midterms for Congress than I thought before. But I think ultimately the key, as you said, Becky, is getting out of the primary. How does. How does a moderate Democrat get out of the primary? I mean, I was asked to look at the race for governor of Florida, and I just looked at that race and said that the Democratic brand is so bad in Florida that it's essentially an unwinnable election. And that will mean that it'll be 32 straight years of Democratic rule in Florida, which was a swing state and Obama won it twice.

[Becky Quick]

Republican.

[Joe Kernan]

Yeah, yeah. I was going to, I was going to ask you one, one other thing that. Now I'm having a senior moment, Don.

[Andrew Ross Sorkin]

All right.

[Joe Kernan]

I'm not sure. I'm not. Oh, Bill Maher. Someone said people are going to move out of New York. Out of New York. And people don't actually do that. They say they're going to do it after election. They don't actually do it. And the person arguing with him said, look what happened in California. There's been a mass exodus of people, wealthy people from California. You believe at this point that you will see an exodus of wealthy individuals from New York City at this point?

[Don Peebles]

Yeah, you're already seeing that, Joe. And by the way, think about it this way. 45,000 taxpayers pay nearly 50% of the income taxes in New York City. So it doesn't take much of a shift to change that. And it's already changed. That's why they're having. They're struggling with their budget right now. I think that, you know, look, another 5,000 people who move out of New York, which is not a large number, and wealthy people are very mobile. That changes the economic conditions of New York significantly. And that's coming. It's already been coming and it's going to accelerate now.

[Becky Quick]

Where, where do you live? Don, I know you split your time between Florida and New York. Where's your primary residence?

[Don Peebles]

Florida.

[Becky Quick]

And has been for how long?

[Don Peebles]

Since 1997.

[Becky Quick]

Wow.

[Commercial Narrator]

Right.

[Joe Kernan]

Okay. So the parties moved. Not Don Peoples. Is that or a little bit of both? Because.

[Don Peebles]

Well, I haven't shifted. I have not shifted to the left. I'm shifting to the center. I mean, I really do believe.

[Joe Kernan]

But you yourself have shifted. Your party hasn't left you. You. You've also moved a little.

[Don Peebles]

Well, my party has left me because they, they've got ideals and things that don't reflect my beliefs. I'm not a socialist. I believe in a free market system. I believe that the best solution here is for people, the people to make their choices. And I believe that the best course of action is that the private sector has to lead, but it can't be handcuffed with absurd regulations. And by the way, I think that's a bigger threat to New York City is the regulations that are coming. Because if you look at the City council in New York City, it's further left than Mamdani.

[Joe Kernan]

That's saying something. All right, Don people, it's been a while. Good to see you. I want to have you on all the time now. Not really sure why. I guess I missed you.

[Don Peebles]

Anyway, Don, I miss you too.

[Cameron Costa]

Next on Squawk Pod Massive flight delays and cancellations across the country as the FAA limits air traffic on staffing concerns. The points guy Brian Kelly on the mess on America's runways.

[Brian Kelly]

Remember, air traffic controllers and TSA agents still aren't getting paid for another month, so it's going to be a while before we're back to normal.

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[Joe Kernan]

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[Brian Kelly]

Prices and participation vary while supplies last.

[Andrew Ross Sorkin]

Taxes, tips and fees extra.

[Cameron Costa]

You're listening to Squawkpod up and Becky.

[Becky Quick]

Cue the Senate may have started the process to reopen the government, but the travel industry could take weeks to bounce back. Thousands of flights were canceled and delayed over the weekend and that is continuing this morning as well. Joining us right now is the points guy, Brian Kelly to maybe give us a little advice on what to do if you are planning or hoping to travel. How bad out there is it?

[Brian Kelly]

Brian it's pretty bad right Now. More than 50% of flights were delayed or canceled yesterday of the major US carriers. I mean we're hearing horror stories, you know, 50 planes in line to take off at LaGuardia and then at the last minute cruise timing out. So this is a situation where, you know, there's several airlines on the verge of a meltdown like we've seen in the past just because their crews are timing out. Planes aren't where they need to be. The air travel system is so interconnected so they're doing their best. But especially with any other weather that comes in, it could really spiral Things for the next week or so.

[Becky Quick]

I mean, you're basically telling me I was supposed to be on a flight this morning, a 6am flight. It got canceled just after 3am and by the way, there wasn't a notice that came out. I noticed it on the app before the notification came out. What are you telling people who are supposed to be traveling other than just don't do it?

[Brian Kelly]

Yeah, if you have to travel, just be proactive. You know, there's a great app called Flighty and Flighty actually pulls in air traffic control data. Often they'll alert you before the airline does. The airline email systems are overwhelmed. So in your case and many others, your flight may be canceled. But don't assume the airline is going to even notify you, let alone rebook you. Often you have to go in and.

[Becky Quick]

All the other flights are on standby, so you're not getting another seat.

[Don Peebles]

Correct.

[Brian Kelly]

So yeah, you got to pack your patience this week. But yeah, if you don't want to travel, don't take a voucher, take the full refund. DOT rules. Even if it's for the shutdown, take the refund because, you know, cash is better than any airline.

[Andrew Ross Sorkin]

Flighty better than flight Aware. I've actually thought about subscribing, but it's a paid app.

[Brian Kelly]

Flighty is good. Flighty is for aviation geeks. It'll tell you if you've ever ridden on that plane before. They're rolling out a ton of new features. They're definitely the one innovating. FlightAware hasn't even been posting on Twitter during this whole debacle. Flighty on. On X is okay.

[Andrew Ross Sorkin]

I'm moving to Flighty.

[Becky Quick]

Brian, how, how bad are the ripple effects, the impacts? Like, how long does this last? Let's assume they get a deal worked out by the end of this week. If that's the case, what will that mean for travel as you get towards the Thanksgiving holiday?

[Brian Kelly]

Yeah, so hopefully by, I would say it's going to be a full week before things get back to almost normal.

[Becky Quick]

But after they reopen.

[Brian Kelly]

After they, you know, reopen. But remember, air traffic controllers in TSH and still aren't getting paid for another month. So, you know, there's. We're still going to have call outs, we're going to still have issues, but.

[Becky Quick]

They'Re not going to be able even if they reopen the government correct way.

[Brian Kelly]

The processing and everything like that. So there's still a lot of strain on air traffic controllers. And, you know, we're also still 4,000 short and this shutdown certainly, you know, did not help with training. So it's going to be a while before we're back to normal.

[Don Peebles]

So.

[Brian Kelly]

But for those flying internationally, you know, I wouldn't worry as much but you know, just check your apps and stay ahead of the game.

[Becky Quick]

I know some of your advice is if it's a 10 or 12 hour drive, you should drive instead of flying. But that's probably not practical for a lot of business travel in this country. People do one day flights even to the east coast.

[Brian Kelly]

Look, it's not complete chaos. Many flights are still going out on time. Certain airports, it's complete chaos if you.

[Becky Quick]

Expect to have it happen the way you like.

[Brian Kelly]

Exactly. And, and I couldn't believe Frontier CEO actually recommended I come on shows like this. And I always say book a secondary option on another airline, especially using your points. If you've got points, book a backup flight because you can cancel and get your points back free of charge up until departure. And the Frontier Airlines CEO actually came out last week and said, you know what? I actually recommend people doing that.

[Joe Kernan]

Making speculative 9, 10, 11 hours not pleasant, but doable. New York to L. A Impossible. You can't get different. I just look Greyhound from New York, this is, I mean if you get a chance to do it, you really need to do it 64 hours.

[Don Peebles]

Yeah.

[Brian Kelly]

But luckily on a bus, those transcontinental flights, the airlines, those are the bread.

[Joe Kernan]

Those are the ones they have to do it.

[Brian Kelly]

They're still going up but you're still going to be delayed. And this is what.

[Joe Kernan]

Right.

[Brian Kelly]

Go to the bathroom before the plane takes off for a taxiway. Especially at LaGuardia and JFK because it's two three hour wait times and they will scream at you you if you.

[Becky Quick]

Get up out of.

[Brian Kelly]

If you get up so and even before you land go to the bathroom because what's happening at a lot of airports you'll wait for two hours to get a gate once you can use folks snacks take what if you go.

[Joe Kernan]

To the bathroom but two to three hours is not going to matter.

[Becky Quick]

Right.

[Andrew Ross Sorkin]

Even if you did go to the.

[Joe Kernan]

Bathroom you're still going to have. There are people. I've got friends that two to three hours is not friends. Yeah. I have no people.

[Brian Kelly]

People are joking of getting depends, you know.

[Joe Kernan]

Yeah. Depends.

[Becky Quick]

I mean that's, that's the type of stuff where you anticipate that just dissuades people.

[Don Peebles]

Yeah.

[Joe Kernan]

When they fill it.

[Brian Kelly]

Especially with kids. If you're traveling with kids this week I would.

[Becky Quick]

Traveling with kids if you're traveling for business, I mean, getting back to it, you cannot plan a business.

[Brian Kelly]

And for sure, for sure take Amtrak on the east coast. When you can just take Amtrak always.

[Becky Quick]

It's pretty booked.

[Don Peebles]

Yeah.

[Andrew Ross Sorkin]

Can we discuss one thing that kills me on all flights? WI Fi and being able to use your phone while on the ground.

[Don Peebles]

Yeah.

[Becky Quick]

For six hours.

[Andrew Ross Sorkin]

So the question is, oftentimes you pay for WI Fi and then it doesn't work. Delta. You don't pay, I don't think. Yeah, no, but a lot of the others you do.

[Becky Quick]

And then it doesn't work until you're at 10,000ft.

[Andrew Ross Sorkin]

No, no. Sometimes it doesn't work at all. And then the question is, should you be trying to get a refund?

[Brian Kelly]

Absolutely. Always just do the refund. You know, even when you're staying at hotels and they have those bogus fees, always just submit. You can submit in the app for a refund of a resort fee. But I will say, what app can. You know, in the hotel app, like, if you stay in there charging $20 a day for use of the business center, you can always just request. But I will say I had Starlink recently on Qatar Airways. United is rolling out. It's unbelievable, too, apparently.

[Don Peebles]

Yeah.

[Andrew Ross Sorkin]

So you don't have to wait till you get to 10.

[Brian Kelly]

Better days are coming. But it's the airlines that'll take you years before. Most planes actually have fast.

[Andrew Ross Sorkin]

Did you know that it's not aluminum, but it's the composite flights that when you're on the ground, you ever notice.

[Brian Kelly]

When you're trying to use 7, trying.

[Andrew Ross Sorkin]

To use your phone on the ground, just like even trying to do email or something, it doesn't work. And you're like, why can't I get a signal even though I'm on the ground and, like, shut it down?

[Becky Quick]

Yeah.

[Brian Kelly]

It's because the computer, 787S. Yeah. Particularly that plane, blocks a lot of the signal.

[Becky Quick]

I forget what that was. I thought they were just doing it, throttling it on purpose.

[Joe Kernan]

Even if you turn off your wifi. Yeah.

[Contessa Brewer]

Are you.

[Becky Quick]

Are you traveling right now at all, Brian?

[Brian Kelly]

This week I'm not, but this next weekend I'm flying internationally, going to Peru. So it's a late evening flight, so I'm hoping it goes off without a hitch. Most international flights have been going off, so. But yeah, for people who are, I think Thanksgiving travel, it should calm down. But, you know, I just tell people, don't panic. Things are changing rapidly. Hopefully the airlines will get it back together. But it's going to be bumpy for at least another week, week and a half.

[Becky Quick]

Okay, Brian, thank you.

[Don Peebles]

Thanks for having me wearing a corduroy.

[Andrew Ross Sorkin]

Blazer, by the way. Lovely.

[Cameron Costa]

That's the podcast for today. Thank you for listening, as always. Squawk Box is hosted by Joe Kernan, Becky Quick and Andrew Ross Sorkin weekday mornings on cnbc starting at 6am Eastern. To get the best bits of that TV show right into your ears, follow Squawk Pod wherever you get your podcasts. We'll meet you right back here tomorrow. Have a great day.

[Joe Kernan]

We are clear.

[Andrew Ross Sorkin]

Thanks guys.

[Commercial Narrator]

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