Squawk Pod - December 24, 2025 Episode Summary
Tracking Santa with NORAD & Christmas NBA with Rich Kleiman

Overview

On this festive edition of Squawk Pod, CNBC covers a blend of hard news, economic updates, and lively holiday traditions. The hosts discuss recent headlines in sports and policy, analyze America’s favorite Christmas movies (with plenty of debate), preview the NBA’s Christmas Day line-up with agent Rich Kleiman, and uphold CNBC’s annual tradition of tracking Santa Claus with General Gregory Guyot from NORAD. The episode is sprinkled with laughter, nostalgia, and the occasional friendly argument, delivering both insight and a holiday spirit.

Key Discussion Points & Insights

1. News Updates: Golf, Visas, and Economic Numbers

[02:15–06:35]

• Brooks Koepka Leaves LIV Golf
  Andrew Ross Sorkin reports that the major champion is leaving the Saudi-funded LIV Golf League to prioritize family time. Return to PGA may require a one year sit-out. The hosts express skepticism about LIV’s impact:

  • Joe Kernan: “That’s how inconsequential this whole thing has been, Andrew. I can’t even remember whether it’s pronounced Live or Liv.” [02:58]
  • Andrew Ross Sorkin: “Some of the great players… didn’t really flourish. Like Brooks was on a fast track…” [03:38]

• $100,000 H1-B Visa Fee Upheld Joe summarizes a federal judge’s decision permitting the Trump administration's high fee for H1-B visas. The fee’s potential to dissuade hiring and its political context is debated.

• Economic Data Reactions The hosts debate reactions to a strong 4.3% GDP reading, with Joe suggesting that positive economic news can fuel political division heading into the holidays:

  • Andrew Ross Sorkin: “You do not speak for the left.” [06:10]
  • Joe Kernan: “Not just in some kind of politically divided universe...” [06:29]

2. Holiday Content: America's Favorite Christmas Movies

[10:44–18:38]

• Survey Findings
  Senior economics reporter Steve Liesman reveals results from CNBC’s All America Economic Survey on holiday viewing:

  • Top Christmas Movies:
    1. Home Alone - 15%
    2. Elf
    3. The Grinch (movie version)
    4. It’s a Wonderful Life (Liesman’s favorite)
    5. Die Hard – igniting the “is Die Hard a Christmas movie?” debate
    • Honorable mentions: A Christmas Story, Christmas Vacation
  • “No movie that got any substantial votes was made more recently than 2003. So we can empirically say the public thinks they don’t make them like they used to.” — Steve Liesman [11:54]

• Viewing Habits

  • 66% stream movies at home
  • 37% watch live sports
  • 29% go to the movies
    The split reflects both tradition and the rise of sports as holiday entertainment.

• Generational Shifts Joe notes his children are less engaged with long movies, preferring shorter online content—raising questions about the future value of streaming libraries:

  • Joe Kernan: “I am finding… they are less interested in watching movies… more into the doom scroll.” [13:22]
  • Steve Liesman: “Things I thought were great movies...they’re like, dad, this is really boring.” [14:06]
  • Andrew Ross Sorkin: “It’s definitely changing a little.” [14:45]

• Movie Debates

  • The “Die Hard as Christmas movie” argument is playfully revisited:
    • Andrew Ross Sorkin: “A lot of references to Christmas in Die Hard… It’s the Christmas party.” [14:55],
    • Steve Liesman: “Bruce Willis apparently said it’s a Bruce Willis movie, not a Christmas [movie].” [15:32]
  • Capitalist lessons from It’s a Wonderful Life:
    • The panel jokes over Potter vs. Bailey and the evolution of banking.
    • Joe Kernan: “There was no FDIC insurance at that point.” [15:59]

3. NBA Christmas Preview with Rich Kleiman

[18:43–26:09]

• NBA vs. NFL on Christmas

  • Joe Kernan: “The NBA is just like filled with incredible young stars right now. And then you still have LeBron, Steph and Kevin and James Harden…”
  • Rich Kleiman: “Tomorrow, the NBA has five incredible games… good mix of the old stars and these young stars. So I think it’s a great day tomorrow for the NBA.” [19:14]
  • The NFL’s Christmas matchups lack playoff implications, giving NBA games special appeal this year.
  • Andrew Ross Sorkin: “It’s true. It’s true.” to Kleiman’s lineup rundown [20:48]

• NBA’s Global Expansion

  • Kleiman is bullish about the NBA’s European ambitions, cross-league opportunities, and international fan bases.
    • Rich Kleiman: “The ability to tap into these existing fanbases… around international football teams… is an incredible opportunity. I think down the road, you’ll have the ability for some of these college players… to go play over there.” [22:04]
    • Transatlantic NBA play? “I think it will happen slowly… The idea of flying to go play in London or Paris I don’t think is so crazy.” [23:27]

• Padel as a Rising Sport
  Kleiman tips “Padel” as the sport to watch in 2026, capitalizing on unique branding rather than traditional league models.

  • “Padel has just grown in popularity and exploded in popularity.” [25:09]

4. Tracking Santa: The NORAD Tradition

[26:09–33:23]

• History of NORAD Santa Tracker

  • General Gregory Guyot recounts the tradition’s 70th anniversary, rooted in a misdialed phone number that reached NORAD’s predecessor.
    • General Guyot: “Colonel Shoup answered the call… That started the tradition that’s continued for the 70 years since.” [29:16]

• Santa’s 2025 Progress

  • Santa is “airborne on his way towards the international Date line and Russia.”
  • Weather is “a little warmer in some places… but no cause for concern. No delays, no cancellations.” [29:46]

• Technical Details

  • NORAD uses radar, satellites, and even “Rudolph’s shiny nose and infrared sensors” to keep tabs on St. Nick.
    • General Guyot: “Santa is probably the most disciplined and capable aviator that we’ve ever seen.” [26:26]
    • “We take all those different systems and layer them together to make sure that we can track them through all weather, all conditions. Rudolph with his shiny nose and the infrared sensors is helpful for us to track that as well.” [32:10]

• Call Volume and Volunteers

  • Over 200 volunteers answer children’s calls about Santa’s location throughout Christmas Eve. [31:02]

5. Holiday Traditions & Signoff

[33:36–35:50]

• Christmas Viewing Habits

  • Joe and Andrew share family traditions, with Christmas Vacation and It’s a Wonderful Life as perennial favorites.
  • Andrew Ross Sorkin: “That’s really one of the few times I actually get one little tiny tear at the very end.” [34:19]

• Friendly Banter & Signoff

  • The hosts affectionately reflect on their dynamic:
    • Andrew Ross Sorkin: “We like to bicker, too. No, we like… we cover the weight, all the sides. You’re Mr. Yin, I’m Mr. Yang.” [35:39]
    • Joe Kernan: “You might be Mr. Yang. I might be Mr. Yang.” [35:46]
  • Wishing listeners a Merry Christmas and Happy Holidays, they wrap up on a warm note.

Notable Quotes & Memorable Moments

• “No movie that got any substantial votes was made more recently than 2003. So we can empirically say the public thinks they don’t make them like they used to.” — Steve Liesman, [11:54]
• “Santa is probably the most disciplined and capable aviator that we’ve ever seen.” — General Gregory Guyot, [26:26]
• “I am finding… they are less interested in watching movies… more into the doom scroll.” — Joe Kernan, [13:24]
• “Padel has just grown in popularity and exploded in popularity.” — Rich Kleiman, [25:09]
• “We like to bicker, too… we cover the whole universe.” — Andrew Ross Sorkin, [35:39]

Timestamps for Important Segments

| Topic | Timestamp | |----------------------------------------------|------------------| | Hard News: Golf, Visas, Economy | 02:15–06:35 | | Christmas Movie Survey | 10:44–18:38 | | NBA Christmas Gambling/Preview w/ Kleiman | 18:43–26:09 | | NORAD Santa Tracker w/ General Guyot | 26:09–33:23 | | Holiday Sign-Offs, Traditions | 33:36–35:50 |

Tone & Style

The conversation mirrors the classic Squawk Box blend—sharp, bantering, equal parts analytical and irreverent, with seasonal warmth. Andrew, Joe, and Steve balance economic depth with playful debate, while Rich Kleiman brings an energetic sports industry perspective. General Guyot’s NORAD visit interjects a whimsical but informative note, underlining both the episode’s tradition and its broad appeal.

In Short:
This holiday episode delivers laughs, arguments, heartwarming traditions, and perspective—perfect for listeners seeking both a news fix and a dose of holiday cheer.