Illustration: Rebecca Zisser / Axios

Amazon, Berkshire Hathaway and JPMorgan Chase are expected to pick the CEO for their health care partnership within the next two months, according to a source familiar with the process.

Big picture: The candidate pool includes both active and out-of-work CEOs, with both public and private company experience represented.

The source also tells Axios that several media outlets misread the original announcement, which said the independent company would be "free from profit-making incentives and constraints." This does not mean that the company will be a non-profit, as some reported. Instead, it simply won't focus on realizing profits — plowing excess cash back into the company (much like Amazon has been known to do).

  • This profit issue has exposed some cultural fissures between the co-founding partners, as both Berkshire and JPM are said to have struggled a bit to internalize the not-for-profit concept.

While the venture will initially focus on health care coverage for employees of the founding companies, all intentions are to expand to other large enterprises.

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Trump's outdoor New Hampshire rally postponed due to weather

Photo: Win McNamee/Getty Images

President Trump's outdoor campaign rally in Portsmouth, N.H., slated to take place on Saturday, was postponed on Friday due to weather from Tropical Storm Fay, a senior White House official confirmed to Axios.

The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 12,294,117 — Total deaths: 555,531 — Total recoveries — 6,761,933Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,118,168 — Total deaths: 133,291 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.' new default strategy: herd immunity.
  4. Business: The pandemic is driving a second jobs apocalypse.
  5. ✈️ Travel: Airlines say air quality, cleanliness lower risk.
  6. Sports: Sen. Richard Blumenthal calls on colleges to cancel fall sports.

Biden's big economic plan plays it down the middle for Democrats

Illustration: Aïda Amer/Axios

Joe Biden yesterday laid out the broad strokes of his economic policy platform, which seemingly is designed to not freak out centrists and not piss off progressives.

Why it matters: Biden has a better-than-even shot of becoming the next president, which means his tax plans could become everyone's tax bills.