CBS, Harvey Weinstein, Viacom discussed on Financial Exchange with Barry Armstrong
The markets are, rallying today on rumors that China all of a sudden they. Want to renegotiate? Their trade deals isn't. That interesting we'll talk about that we're also talking about less Moonves kinda, surprised the way this is going but we've got. An expert on this media sector he's going to join us. And talk to us about it and then doctors we're gonna be talking about where it'd be talking about, lending money to your family members but busy show busy busy hour for John Mooney joins me. Today by the way and. John, let's talk about les Moonves I I was shocked that. He's still going to work today I was to really thought this would, end up in, les, Moonves says being put. On paid leave pending the investigation they're bringing in outside investigators to look into, this situation that CBS you know the guy who, broke the, story about Harvey Weinstein eight month long investigation where he talked to six women who Who had direct claims of sexual, abuse if not borderline sexual assault and dozens of dozens of. Other people who? Complained about inappropriate behavior. And how many complaints as moon does have about half a dozen in, this case he documented six people Weinstein or does. It was many many people yeah and you know I'm not. Sure this is quite to the extent the AC accusations of what we heard with Harvey Weinstein that sounds, pretty bad some of it sounds arguably worse he held this woman down hinder down I mean. That's that's that's called rape. Yeah, again you know I I think we have an issue. Of due process here and you know I think that even in cases, like this we, shouldn't, you know throw the. Person out and then just you know say well you're accused of this but, the have Sherri Redstone fingerprints on it you know, that's that, was my first initial thought it's like wow okay To this is this is dirty hardball ios a, battle just so you'll know between CBS Viacom once they were one company they split up the red stones were from Brookline Boston you know local people Sumner got to be very, old and was Durrell's daughter, took over his daughter took, over he? Was. Incapable of running, it based on his his healthcare and his mental state at the time and so right now is a. Battle between CBS and. Viacom and Sherry his daughter would. Like for CBS to purchase, Viacom for. Them to, merge into. What they were. Before. CBS, has done, really, well on their own thank you and a lot of us dude les, Moonves and outstanding job he's done running that, network and, I just, think his thinking is we don't need, Viacom there, the, poor, child will we're going, to go a little bit so the feeling. Was that, maybe Sherry went Redstone may have orchestrated. This to, take, a Stab. At the one person who standing up against the merger but and, we have no. No substantiation to that and oh that's, just speculation, and I don't buy it I thought that initially did you, and the reason. Why I don't think. It's the case because the timing is unbelievable is that the guy who wrote this article has been. Working on it for eight months in interviewed literally dozens of people more. Importantly got people to go on the record using their name with specific accusations that's pretty strong stuff. Especially given the fact that this is the. Same person who wrote the story on, Harvey, Weinstein this guy is got. Credibility he does the other. Thing you should be aware of folks is less moon Bez draws. An annual pay package of sixty nine point three million dollars. And if he is fired or leaves the. Company without the board finding him at fault He gets a hundred and eighty four million dollar exit so I think, if if I'm CBS I think what. They're doing is they're saying here okay there's an accusation been made we, are we're going to investigate, it so we can. Get, out, from underneath this hundred and eighty four million. Dollar payment I think that that's? A legitimate point to be made I mean that's why wouldn't you do that if you're the stock if that's your money aren't you saying hold on here one hundred eighty four million. Dollars even if you're a multibillion, dollar media company that's real money exactly and you know they've handled other. People like Charlie rose, a little bit more forcibly yeah but small potatoes compared comparatively Matt Lauer small potatoes Matt Lauer. Making eight million bucks that's. True well if you look at Roche was even making that much and the. The well but this also they also in fairness to we should point. The they were both on the air so and that's a pretty big deal you are Yeah seen. By everybody representing your company in a very very visible way obviously on air les Moonves. While we all know he's one of the most powerful. People in all of broadcasting in all of media the fact is most people don't know, who, he is a lot of. People speculating. He's all done like it could be if if I'm les Moonves and I'm guilty I'm not saying he is. But if I'm guilty I'm going to do a Friday. Night news, dump and just say I decided to retire he's sixty, eight years old he's, sixty eight years old and at? The end of the day if only one of these accusations are correct right. You gotta go he's. Done you gotta, go that's just the era were in always should have been that. Way, but the fact is if he is, guilty in, any of, these he's done Friday. News dump. Always, pay attention to the news that comes out after four o'clock on Friday especially, in the summer I including from the White House elected officials there's a very big stories that they, don't want you to know that come. Out late Friday tell me it ain't so doctors, payments increased drug prescribing by, seventy three percent this, is related to a drug near and dear to our hearts cholesterol, medication yeah and in. Which case you know there's. A there's a five hundred. Dollar a month option and there's a, two dollar a month option and they both. Work? About as well. Yeah but. Yet the five. Hundred dollars a month option is offered recommended yeah I don't know. About you bury but I never felt comfortable with this whole cozy, relationship between drug company representatives. And doctors and I was to be a lot worse John I worked in, the media and some, of my colleagues went to work for drug. Companies and they were paid a lot of money and they're always good looking women were Or good looking men one or the other yeah you look at a drug salesman for Pfizer crest or any of these drug companies here. Like models I'd take, a meeting And they, have lunches and dinners and you find out about, all this other. Stuff which is legal but to me. Is, almost like, bribery well, the the the statistics bear, it out John's seventy even the seventy three. Percent increase in prescribing Drugs yet where you've been taken, out to dinner so the sexy drug. Salesperson, from Pfizer, Yup male, or female takes. You out, to a nice dinner at Morton's right yeah For, that? Right Tells you how great you are and then all sets. Up the tab. You're your Seventy-three you're increasing your prescriptions of their drug by. Seventy, three percent yeah maybe they by like I. Think it happened I've talked to doctors and they deny it profuse they if you talk to a doctor and I've got doctors who are clients and, I've asked them I. Brought, it, up, oh no no we would. Never do that. Stats don't lie I'll tell you where. It. Does happen okay I I have a Stanton, and you know I was taking laboratory and Lipitor cost a fortune literature even makes their own, generic right now which, by the way also cost a fortune. Which is unbelievable but there's a lot of older status that you can literally get on any cheap healthcare plan for like a. Buck a, month I mean it's, literally that cheap some of the older drugs and. They're very effective like I took the one of the old drugs, in my numbers. Went down beautifully, it worked wonderful but we're where I think you have a problem is when you have to be taking a brand name drug and there were two or three different brand name drugs then Then now sudden we don't have, a conflict so. Do we do, the Bristol Myers drug or do we do the Pfizer drug the Fraser woman took me out and that dinner was really nice and the prices are about the same. Right I'm not causing, any harm I make the getting hurt right just, the insurance no one's really getting hurt, but? What really bothers me though is and this is really, effective is the drug companies now realize if, they, take their case directly to the. Consumer they can make the consumer demand the. Expensive drug assuming the insurance companies paying for it right that's why you see all these ads for drug companies drugs on the air because the consumer says oh. I saw the sands beautiful out I want to be just like that person they make the doctor prescribe it seventy six percent of our listeners have loaned money, to a, friend or family member and study that was done by. Lending tree in two thousand seventeen. Says that almost a third twenty eight point seven percent of those who. Borrowed money from or loaned money to a, family member reported suffering negative consequences side? Effects included discomforted holiday gathering's I would think so verbal arguments I would think so and in some instances irreparably Harm to. A relationship well our question poll question is have you ever loaned money to friends or..