When: Today,Thursday, May 16th
Where: CNBC's "Squawk on the Street"
Following is the unofficial transcript of breaking news from CNBC's KaylaTausche today on "Squawk onthe Street."
All references must be sourced to CNBC.
KAYLA TAUSCHE: WELCOME BACK TO SQUAWK ON THE STREET. I'M KAYLA TAUSCHE WITH SOME BREAKING NEWS. WE ARE STILL AWAITING THE PRESIDENT BUT HERE'S SOME OTHER NEWS INVOLVING THE WHITE HOUSE. FORMER WHITE HOUSE CHIEF OF STAFF BILL DALEY, I HAVE LEARNED, IS ASSISTING JPMORGAN IN RALLYING SUPPORT OR A POTENTIAL COMPROMISE INA NONBINDING PROPOSAL ON ITS PROXY TO SPLIT A CHAIRMAN AND CEO ROLE. NOW, I HAVE LEARNED THAT DALEY HELD CONVERSATIONS OVER THE LAST WEEK. TWO CONVERSATIONS – ONE LAST WEEK, ONE EARLY THIS WEEK, WITH HIGH-LEVEL SOURCES AND AFSCME, WHICH IS THE AMERICAN FEDERATION OF STATE, COUNTY AND MUNICIPAL EMPLOYEES, WHO HAVE AUTHORED THE PROPOSAL ON JPMORGAN'S PROXY TO TRY AND SEE IFA COMPROMISE WAS POSSIBLE TO SEE HOW SERIOUS THE DESIRE TO SPLIT THIS ROLE WAS.I AM TOLD BY PEOPLE BRIEFED ON THE MATTER THAT THIS CONVERSATION, BOTH CONVERSATIONS, CAME UP EMPTY AND THAT NO COMPROMISE COULD BE REACHED. NOW,JPMORGAN CHASE COULD NOT BE REACHED FOR COMMENT BEFORE AIRTIME BUT IT DOES SEEM GUYS LIKE JPMORGAN'S TRYING TO DRUM UP SUPPORT AND TRYING TO FIGURE OUT IF ANY DEAL CAN BE REACHED BEFORE THIS VOTE ACTUALLY HAPPENS THEN THAT WOULD BE A GOOD THING.
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