35 Burst results for "$30 Billion"
The Breakdown
First Republic Bank Shares Sink to Another Record Low
"All right, Friends, another day, another set of serious updates around the global banking crisis. We start with first republic, which had another shocking day on Monday with the stock price plummeting 47% to an all time low. The stock was halted 9 times during its freefall and has now lost 90% of its equity value since the beginning of March. First Republicans experienced a massive $70 billion in deposit outflows over the month, as customers grow concerned about the safety of the bank afflicted with the same duration mismatch impairment that took down Silicon Valley bank alongside signature. Now on Friday, a consortium of major banks led by JPMorgan Chase, agreed to offer first republic 30 billion in deposits, consisting of the deposits which would float out of the troubled community bank. Ratings agency S&P said this package may not be enough to solve the quote substantial challenges facing the bank even if it does ease short term pressures on liquidity. On Monday, JPMorgan CEO Jamie Dimon was back in talks to discuss converting the $30 billion in deposits into a capital infusion in an attempt to calm the panic around the already shaky bank. JPMorgan investment bankers have also been hired by first republic to explore options with a sale also being in the cards. Unfortunately, right now it's not clear how likely that is. Now that said, first republic doesn't necessarily represent the entire banking industry, with some time having passed since the collapse of Silicon Valley bank and the introduction of the fed's emergency liquidity program, the bank term funding program or BTF, regional banks actually saw a broad rally on Monday. This was led by New York community Bancorp, which we'll discuss in just a moment with a record 30% daily gain. Zero X makes he says, if you're in crypto and not following what's happening on community bank Twitter right now, you should be. Regardless of intent, the effect of both choke .2 and our two tier deposit insurance double standard is the same. To centralized resource allocation decisions in D.C. and New York.
CoinDesk Podcast Network
11 Big Banks Create $30 Billion Rescue Package for First Republic
"11 big banks, including JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, and more announced last night that they would take these somewhat theatrical step of depositing $30 billion worth of uninsured deposits into the troubled first republic bank. But even that move, along with the introduction of the fed's latest bailout window, it might still not be enough to quiet concerns about just how stable and safe the U.S. banking system really is, just this morning as we go to air, even with yesterday's rescue still in the headlines, we're seeing first republic stock trading down nearly 25%. Zach, we've had a backstop, a lending facility that lets banks basically exchange their get their cash back for bad investments made and essentially the best terms. And now the big banks are throwing cash at the problem also. What do you think it will take for the regulators to restore confidence in the banking system or is that something that we're not even really expecting at this point? Well, you know at first republic bank doesn't have the taint of crypto attached to it. That's the thing that stands out to me as it relates to its ability to survive while we see signature be wound down. Obviously this crisis is one of confidence. If you look at people who are researching this issue, pretty much all midsize banks are having this issue, right? They bought bonds that are now worth far less than what they were marked as on their books, right? So clearly, I think people are worried that this could spread to other banks across the country, not just those in California who service, tech firms, but again, those who have customers who are looking to find yields and who are realizing that in this interest rate environment, they can go elsewhere to get yield and they can take that money out of a bank quickly in the palm of their hand and deposit it in a money market account, but they can deposit it with treasuries at their own will, right? So I think clearly what we're seeing is a response to sort of this systemic reality in which we now find ourselves in where money is moving as fast as it ever has. Faster than ever indeed. And all of a sudden, billions and billions of dollars are being drawn out of these banks in hours time. It's quite remarkable and I think that's why we're seeing these remarkable steps.
AP News Radio
World shares up after First Republic aid spurs Wall St rally
"A group of banks of extended a lifeline to U.S. based first republic bank, offering reassurance to financial markets. Markets rallied on Wall Street and in Europe and Asia, after news at 11 big banks have offered a combined deposit of $30 billion to help troubled first republic bank. Markets gyrated this week after the collapse of Silicon Valley bank and investors were looking for other troubled banks amid concerns over the unintended toll that interest rate hikes are taking on financial institutions. Shares of Credit Suisse plunged after their biggest shareholder, the Saudi national bank, said it would not provide any more support, but rebounded after Switzerland's national bank offered $54 billion in liquidity, Stephen Ennis of SPI asset management says in a report, the market remains cautious, traders do not want to get overexcited, especially with investors still focusing on what can go wrong instead of what could go right. Treasury secretary Janet Yellen told a Senate committee Thursday that the U.S. banking system remains sound, yesterday the European Central Bank raised its key rate by half a percentage point that expectations on Wall Street are that this week's turmoil will push the U.S. Federal Reserve to cut its rate hike next week to a quarter of a percentage point. I am Jennifer King
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"Trading. Let's get you up to date on the news you need to know what this shower, following days of uncertainty, the CEOs of 11 banks have offered a lifeline to stop the panic on Wall Street. Big banks have agreed to deliver a total of $30 billion to shore up first republic bank. Treasury secretary Janet Yellen, one of the architecture of the deal says the banking sector is secure. I can reassure the members of the committee that our banking system is sound and that Americans can feel confident that their deposits will be there when they need them. And treasury secretary Yellen proposed the idea of a group bank effort on Tuesday in a call with fed chair Jay Powell, Yellen also spoke to JPMorgan's CEO Jamie Dimon, who reached out to heads of city, Bank of America, and Wells Fargo to backstop first republic. Yesterday was a volatile one for first republic shares, they plunged 35% but closed up 10%, and right now shares are down about 6 and a half percent in early trading. And Karen, we're learning more about the role of fed chair J Powell played in transparency surrounding SVB rescue. According to The New York Times, The White House wanted the statement on the matter to spotlight shortcomings in financial regulation for the collapse of SVB, but the paper says Powell blocked that effort. And any billionaire Bill ackman, among those who are critical of the rescue, the Pershing square founder tweeted that spreading risk of financial contagion to achieve a false sense of confidence in first republic is bad policy. Now with the march FOMC meeting just days away, the Federal Reserve is contending with both high inflation and a crisis of confidence in the banking sector. Consensus calls for a hike of 25 basis points, but former fed economist Claudia psalm says the Central Bank should probably pause. It's not like the fed caused this what happened with Silicon Valley bank. But they did set up a situation in which we were more grown to this kind of volatility with these big rate increases. Former Fred economist Claudia Somme says, raising rates hard and fast created a fragile environment. Well, Amy Charles Schwab is another firm we have our eyes on this morning. We're getting word that clients pulled billions of dollars out of Schwab's prime funds this week at the same time are told Schwab's government and treasury funds have had inflows. Banking turmoil is also focused in Europe we watch shares of Credit Suisse Bloomberg news has learned Credit Suisse and UBS are opposed to a forced combination both banks see a takeover as a measure of last resort following days of chaos and uncertainty shares of Credit Suisse now down more than 4%. And futures this morning higher S&P futures up a tenth of a percent or 5 points this morning straight ahead your latest local headlines plus a check of sports and this is Bloomberg
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"The idea of a group bank effort on Tuesday during a call with fed chair Jerome Powell, shares a first republic swung wildly yesterday, plunging as much as 36% early in the day than surging as much as 28% during the trading session. Well, a key fed safety valve just hit a record high emergency loans from the fed's discount window jumped to a $153 billion in data for the week ending on Wednesday. Now the spy can't align banks desperation for liquidity, but the loans from the fed's backup sort of funding actually reverse half of the balance sheets shrinkage to the Central Bank has managed to achieve since it began so called quantitative tightening. And in Europe, Credit Suisse and UBS are opposed to merging, according to sources. Despite a momentary reprieve after a liquidity injection of CHF 50 billion, attention has now turned to how Credit Suisse will win back its clients. As the Swiss finance world games potential rescue plans, UBS is reportedly reluctant to take on the risk, a full blown combination would fly in the face of years of too big to fail rules and raise antitrust concerns in many business lines. While the open Central Bank went ahead with a planned half point increase in interest rates to 3%, authorities feared a smaller height might trigger panic among investors, president Christine Lagarde offered little in the way of forward guidance, though, and few clues on what may follow amid this market turmoil that has roiled Credit Suisse. We are monitoring current market tensions closely and stand ready to respond as necessary to preserve price stability and financial stability in the Euro area. The Euro area banking sector is resilient with strong capital and liquidity positions. The ECB president Christine Lagarde will the app in Central Bank cut its forecast for headline inflation, but is raising the estimate for stronger core inflation in 2023. And in a bid to end months of strikes, the government has offered a 5% pay rise to NHS staff in England, including nurses and ambulance workers. There's been little clarification from the prime minister about where the money is coming from to fund the new pay offer. We are going to be making sure that we protect all frontline services with 14 billion pounds of more funding that we announced at the end of last year. No one can doubt our commitment to making sure that the NHS is well funded. That will always remain the case. That was Rishi sunak, who is also insisting the money will not be taken away from frontline services. Unions are recommending members back the deal after nearly two weeks of talks with ministers, raising hopes the bitter dispute, may be coming to an end. Okay, those are a few of our top stories for you. This morning. So look, we're going to unpack everything that's been happening in markets the last fortnight had been incredible. It's been the most volatile 5 days on bond markets in basically decades. So we'll unpack that, but also this red headline on the blue bag terminal is quite interesting. We now, it seems have a date for when the Chinese president Xi Jinping is actually going to visit Russia is going to be on the 25th to the 22nd of March. This according to the Chinese foreign ministry in a statement this morning. So this idea has been around for a little while that Xi Jinping would visit Russia, but now it is going to go ahead. Next week with for talks with president Vladimir Putin, I suppose the question around Ukraine essentially is going to be central. The Chinese foreign minister Qin gang has been speaking also to the Ukrainian his Ukrainian counterpart about ties and Russia's invasion. But whether China is really going to be able to be involved in brokering any peace deals really a big question mark. But anyway, that date is important, isn't it? And Caroline, you know, this will raise a lot of eyebrows and diplomatic capitals across the world because, of course, last weekend we saw the deal that China brokered between Saudi Arabia and Iran. There were a lot of questions about that and a lot of indication that China is trying to position itself as sort of an international broker on the world stage to compete with the U.S.. So this really ties into that narrative there. Yeah, that's very interesting point. Okay, let's talk about then the main issue then with what is happening in the U.S.. This Federal Reserve discount window that we talked through in our top story, hitting a record high, bank has just hoovering up emergency liquidity. Joining us now Valerie ty tell are markets reporter. Just talk us through this release for people who might understand the exact workings of the fed. Why does this matter? Yes, sure. So the fed releases its weekly balance sheet numbers on a weekly basis. So this is from the week ending Wednesday, captures all of the upheaval around SVB, potentially some around Credit Suisse as well. Now, it showed us that half of the QT program was reversed in a matter of days. QT has been going on for the last year, this balance sheet roll off was half of that was reversed just with this Silicon Valley blip. And that is very important for the fed's path forward. Quantitative tightening was one of the tools that they were using to tighten financial conditions to pull liquidity back from the system, and they were unable to continue that pace. It had to be reversed somewhat to add last minute liquidity to these regional banks suffering from outflows. So the money is out there, right? Like what does that money do? What impact will this have? So you can view it that if you're a bank and you're sitting on a load of treasuries and portfolio of treasuries, which are holding losses, you can lend this portfolio to the fed and those securities are then marked at par. So the fed in a way of allowing you to lend at a above market rate is creating deposits in
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"Lender is agreeing to deposit some $30 billion in first republic bank. First republic is the latest bank to see its equity slammed as deposits exited, even with a 10% rise in today's session. During the regular session, the stock is down 74% in the past month and most of that, occurring this week. And if you think about it this week has been a week marked by almost every day a new bank in the spotlight yesterday, Credit Suisse was the big story today. First republic, the big story, it did say late in the day that it is suspending its dividend payments and that it will focus on reducing its borrowing. That sank the stock as much as 29% for a time in after hour isn't at the moment is trading down 18%. It was just another example of every day there's something new and it doesn't seem like we are at least at this point anywhere near the end of this saga. Let's take a closer look at what we see in the Asian markets. Nikkei futures are suggesting a very modest game, the ASX 200 is up about three tenths of 1%. Dalyan won 33 43 here. The yield on the ten year US Treasury 3.57%. And a quick line on TikTok, the New York Post says it's in talks with potential buyers as the U.S. presses for a ban that conversations are heating up. And that's a look at markets. Let's get over to Dan schwarzman in New York with the latest headline news, and a Brian French president Emmanuel Macron is rammed through a bill that raises the country's retirement age from 62 to 64
ToddCast Podcast with Todd Starnes
Rep. Bob Good: Calling for 1990s-Era Work Requirements on Welfare
"The things I really appreciate about your plan is to actually embrace the Bill Clinton era, work requirements on welfare. I think for me, and we're going to get to that in a second, but congressman just imagine how far the Democrat party has moved to the left when they were the ones who actually embraced these ideas of, hey, you know, if you're gonna get all welfare, you gotta show us your, you're out there trying to get a job. No question. There's our 3 million less Americans working today than there were when Biden became president and not only is it costing us we're going to save about $30 billion a year on the spending side by having able bodied Americans return to work. So not only is there an economics budgetary savings there, but it will fuel the economy, job creators, employers and businesses can not increase productivity, can not invest in their businesses the way they want to in terms of growing that business without workers. And so there's a cultural component to it. There's a moral virtue that's part of work that we're hurting our country, our hurting our society. We're also against we're spending money to provide federal subsistence to people who are able to work, but then also we're holding back our economy. This president is projected to continue like the anemic 1% economic growth. We got to get back to Trump's pro growth policies, three to 4% growth, which means cutting the regulations again instead of increasing means keeping Trump's tax cuts in place and cutting taxes even more. It means getting Americans back to work as you've just noted there. And it means unleashing American energy again. All those are critical to getting the economy churning again, which will mean we can get to fiscal balance more quickly than we can. We're just trying to cut our way there alone. We got to cut the spending no question, but we all got also got to get Americans back to work, get the economy going again.
The Dinesh D'Souza Podcast
The Inherent Bias of ChatGPT
"Might be familiar with a artificial intelligence app or program called chat GPT. It actually stands for chat generative pre trained transformer, but ignoring all that. Chat GPT is basically one of those complicated forms of Siri, but you know, series very basic. Hello Siri, what should I have for dinner? Answer broccoli. But chaat GBT is not like that. It's scours the web, it forages the web for information. And so it can provide detailed responses and articulate answers, not just a general conversation, but if you ask it to compose a poem or respond to a law school test question or even answer interrogatories in an ongoing legal case. So this is people have been sort of amazed by the ability of chat GPT to do this and the value of this company with that launch that's just a year ago OpenAI has gone to almost $30 billion. In fact, Google just announced their about to launch a competitor to chat GPT that is called Bard. Now, I want to expose the bias. It's not the bias of chat GPT, by the way. It's the bias inherent in the culture because let's remember that Chad GPT is essentially a sophisticated cotton pace job. It is going through what's out there on the web calling information and then threading it together into comprehensible prose. So here's a question posed to chat GPT. What is it that white people can do to improve themselves? Chat GPT goes, sure. Here are 5 things a white where white people can focus on improvement. Understanding and acknowledging privilege. That's number one. Two, self reflection to challenge personal bias. Three become an active listener and conversations about race for support anti racism initiatives that promote equity and justice, 5 become an ally and speak out against prejudice. 5 things that whites can do to make themselves better. Same question is not posed to chat GPT. What can blacks do to make themselves better? Answer, this is where it's fascinating. No, I can not provide a list of things in a specific group of people need to improve. Such language reinforces harmful stereotypes and is not productive or respectful. Instead, let's focus on promoting equality and respect for all individuals regardless of race, blah, blah, blah, blah, blah.
AP News Radio
New FTX CEO says lax oversight, bad decisions caused failure
"The new CEO of bankrupt cryptocurrency group FTX testifies before the House financial services committee as the government charged former CEO and founder, Sam bankman fried with a host of crimes, the one time poster boy for cryptocurrency, Sam beckman freed, was supposed to testify before he was arrested in The Bahamas, the Justice Department and the SEC say he deceived investors to enrich himself, bankrupting the company. New CEO John ray told lawmakers it's an old crime embezzlement applied to a new asset. This is really old fashioned and embezzlement. This is just taking money from customers and using it for your own purpose. At its peak, FTX is market value top $30 billion, ray says in excess of 7 billion was lost, and that there was no real record keeping. They used QuickBooks, multi-billion dollar company using QuickBooks. In interviews, bankman free denied any fraud. I'm Julie Walker.
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"The budget that a Nike would have Nike is a $30 billion company in terms of top line greater than that And rural women 6 billion So what's the catalyst here for getting into this market Again it just seems super competitive And you talked about some of the margin challenges is this just trying to extend the brand value the brand of Lululemon into another vertical Yeah I think it's the natural adjacent expansion category So they have apparel They have accessories They did test shoes before with APL through a partnership And that did really well So I think since that point they could just kind of craft a line of their own and now finally in 2022 they were able to launch it through women's It's shoes and apparel go hand in hand So it just crossing the customer over into an adjacent category And if you do bring loyal customers into the stores and they can maybe crush off from footwear and tap out or apparel and be somewhere You know I'm looking at the FA function on the Bloomberg terminal the financial analysis and it's got some of the forecasts from the street Looking at 2023 their fiscal year January 2023 20% top line growth in fiscal 24 14% top line growth That's pretty darn good What's driving it It's the demand for active or I mean we all lived through the pandemic right There's more yoga pants and everyone's closets when they're ever before And that trend continues even though we're returning to work there's a balance now and the demand for Activewear just continues to grow Interesting stuff Lululemon is the call there Put them Thanks so much for joining us We appreciate it Put them intelligent retail analysts coming up on the program The Russell 2000 inflation playbook You're listening to Bloomberg intelligence On Bloomberg radio providing in depth research and data on 2000 companies and 130 industries You can access Bloomberg intelligence via BI go on the terminal I'm Paul Sweeney It's 39 minutes past the hour and this is Bloomberg Hybrid work is here It's there It's everywhere But for someone to be.
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"Radio My extra special guest this week is Darren Palmer He is the general manager of battery electric vehicles at Ford He is overseeing Ford's $30 billion shift to electrification He helped launch the Mustang Mach E the E transit and the F one 50 lightning he holds an MBA from Henley management college in the UK as well as an electrical electronics and technology degree from Birmingham university Darren Palmer welcome to Bloomberg Thank you It's a pleasure to be here So let's start with your background You get an engineering degree in the 1990s was the plan always to go into automobile manufacturing or were you focused on a different sector It sounds so long ago now when you say the 90 yet so my time was always to go into engineering I think a lot of people in engineering know that they're destined for that I really like metatronic at the time So the fusion of a electronics electrical with creating movement as well So I knew I wanted to go into something of complex engineering and I think somebody once said to me you know planes take too long trains don't have as much interest but cars are constantly changing over it and they're a huge purchase in people's lives So that's what made me look towards cars And I looked at a number of car companies but I think I always knew I wanted to go into water And I got a few offers but Ford was a type of company that had a great reputation and furthermore makes cars for everybody And I was interested in making cars for everybody not just a privileged few Really interesting And you have a reputation as a petrol head you're a Mustang guy What led you to gravitate toward EVs over these years Well we're very lucky in this career 29 years in the Ford And every time the last challenge finished they offered me another challenge So I ended up working all over the world on every type of cast Commercials every class B C CD plus card to increasingly larger and then luxury And all around the world India China South America U.S. Australia So and at one point I had a plant on four continents 5 continents and development center on four continents So all of those different parts of experience led me to I was starting to work on hybrids And the company said we want to do something different We need to have a completely new approach to electric cars because we were trying and we were getting nowhere They decided to do something called team medicine And they asked with my background in international and really open mindedness was the key there We formed a team called team Edison to determine the future of electric car forward So that was about four years ago And that was a four and a half and that was my moving to electric cars Tell us about team Edison obviously a little bit of a reference to a famous American entrepreneur What is team Edison and Ford So what was happening was we were trying to develop electric cars but they would be measured by the same measures as gas cars So they wouldn't meet the hurdles the investment hurdles the profit hurdles the volume predictions So we were getting to nowhere and we in fact we were going to make Ford focus their version two and we knew that it was becoming increasingly aware that that really isn't what the market wanted So we had to change something and we knew it was a cultural change So we decided we would buy an electric car company but then you have to transfer tens of thousands of people in one day or we try something different We create a startup within Ford Motor Company and that's what we decided to do So headcanons are really one of our top business leaders was put in as the head of that group and he set about recruiting people internal and external head up to medicine The team Edison the first project was that the Mustang or was it leader Was team medicine after the Mustang Mach-E So the first thing to do was to determine where to play and how to win And that meant we had to first understand I mean for the whole portfolio was that the time was $11 billion So three or four cards coming through And the battery infrastructure and the charging infrastructure and all those things we had to do So it was actually to work out where to play and how to win And we quickly worked out We went to California and I was talking to customers in California and increasing them about their cars And we determined quite quickly that they had transitioned to bed and they would never come back There are also delighted with their products And it felt like they'd moved from a flip phone to a smartphone like an iPhone or a similar And any price they would never move back which was very similar to the phone analogy And I asked one of them I.
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"To corporate news this morning Nathan we have a surprising blow to Purdue pharma's multi-billion dollar opioid settlement A federal judge has reversed a bankruptcy course approval of the deal Several states want to block the agreement so they can keep suing produce owners that billionaire Sackler family the settlement would prevent them We have some deal news this morning Karen Oracle reportedly is a negotiations for its biggest takeover ever The Wall Street Journal says the company is in talks with electronic medical records company Cerner a deal could cost around $30 billion Cerner shares are up nearly 18% in early trading And shares of FedEx up 5% this morning Nathan that's after the company delivered earnings that beat estimates We get the story from Bloomberg's Charlie pellet The quarter is concerns over higher U.S. labor costs latest numbers were in line with what FedEx reported a year earlier when cities were locked down to slow the spread of COVID-19 Revenue was up 14% to 23.5 billion driven by price gains analysts have predicted 22.4 billion based on estimates compiled by Bloomberg The courier has struggled with a lack of workers that had sorting hubs which was lowered capacity and forced the company to incur additional costs to reroute packages In New York Charlie pellet Bloomberg daybreak All right Charlie thanks And Elon Musk is selling another round of stock the Tesla CEO is closing in on his goal of selling 10% of his stake in the company His second sale this week must got rid of 934,000 shares totaling more than $880 million The funds will once again go to pay taxes on the exercise of stock options Musk has now sold three quarters of the shares he'll need to reach that 10% threshold and a red headline just crossing the Bloomberg terminal Biogen's Alzheimer's drug gets a negative recommendation in the European Union S&P futures down 13 points now futures down 24 NASDAQ futures down a 126 Straight ahead your latest local headlines and a check of sports This is Bloomberg It's 6 O 7 on Wall Street Now at 58° in Central Park is smooth ride getting in on the bridges and tunnels but some volume building on the FDR combo John.
77WABC Radio
"$30 billion" Discussed on 77WABC Radio
"U.S. retail stores and companies this theft shoplifting has cost them $30 billion a year According to the FBI Now just think about that when that number goes through the mind set of a Marxist right $30 billion I mean they can spare $30 billion just in losses What do we really come to their mind I know I know you have to put yourself in their mindset So this is not easy but let's try it You have to put yourself in the mindset What they don't hear they don't hear $5000 of goods from a Nordstrom store They hear $30 billion They were these stores these big evil capitalist entities We're able to write off $30,000 $30 billion excuse me in stolen goods and didn't blink an eye Why are they not being taxed more Why are they not paying more in taxes And then they go on with their nonsense about how is it possible that a corporation can pay less in taxes and somebody in the middle class Which is a lie Of course they say that over and over again Amazon paid $0 in taxes Bernie Sanders will scream And now it is that these rich stores they'll lose $30 billion in stolen goods and they won't even blink an eye See that's that's what you have to understand You know the reason why these woke social justice professors came out and said don't call it looting Looting has a social justice connotation is because they view people who loot as victims but they also view people as who shoplifted his victims too Let's face it right If these big evil cushy big stores can lose all of this merchandise and money and still stay in business Meanwhile people are struggling out there and these people are not paying their fair share in taxes You understand what the left starts thinking right How dare we prosecute these people This is like a modern day Robinhood What's happening here These big corporations are stealing from them by not paying their fair share in taxes and all these people are doing is going in and getting what's theirs Oh you know they think that right Of course they think that And so what's happening across the country and
Mark Levin
FBI: U.S. Retail Stores and Companies Lose $30B a Year in Shoplifting
"U.S. retail stores and companies this theft shoplifting has cost them $30 billion a year According to the FBI Now just think about that when that number goes through the mind set of a Marxist right $30 billion I mean they can spare $30 billion just in losses What do we really come to their mind I know I know you have to put yourself in their mindset So this is not easy but let's try it You have to put yourself in the mindset What they don't hear they don't hear $5000 of goods from a Nordstrom store They hear $30 billion They were these stores these big evil capitalist entities We're able to write off $30,000 $30 billion excuse me in stolen goods and didn't blink an eye Why are they not being taxed more Why are they not paying more in taxes And then they go on with their nonsense about how is it possible that a corporation can pay less in taxes and somebody in the middle class Which is a lie Of course they say that over and over again Amazon paid $0 in taxes Bernie Sanders will scream And now it is that these rich stores they'll lose $30 billion in stolen goods and they won't even blink an eye See that's that's what you have to understand You know the reason why these woke social justice professors came out and said don't call it looting Looting has a social justice connotation is because they view people who loot as victims but they also view people as who shoplifted his victims too Let's face it right If these big evil cushy big stores can lose all of this merchandise and money and still stay in business Meanwhile people are struggling out there and these people are not paying their fair share in taxes You understand what the left starts thinking right How dare we prosecute these people This is like a modern day Robinhood What's happening here These big corporations are stealing from them by not paying their fair share in taxes and all these people are doing is going in and getting what's theirs Oh you know they think that right Of course they think that And so what's happening across the country and
The Charlie Kirk Show
'Let's Go, Brandon' Goes Mainstream
"You type in let's go brand into Google news, it is everywhere. AP news. How let's go Brandon became code for insulting bought Joe Biden. The Washington Post, let's go brain and is Republican vulgar governing agenda. By Dana millbank. Oh yeah, but drag queen story are perfectly cool. All right, the fact that 6 year olds get exposed to dudes that are in dresses. 22 hours ago Trump campaign joins the let's go Brandon trend. The NPR national public radio. Here's what let's go Brandon actually means and how it made its way to Congress. Fox 8, let's go Brandon, here's where the viral meme comes from. Three days ago, how the anti Biden song let's go Brandon became a shadow smash. And I can continue. The left is perplexed that there would be a grassroots non centralized non CNN non AT&T, by the way, this is what's so amazing about this is Black Lives Matter is totally corporate. It was top down centralized, every corporation was behind it. This is totally let's just say not coordinated. There's no central command center for let's go Brandon. There's no multi-million dollars spending campaign. There's no pledges from PepsiCo or from Coca-Cola, Goldman Sachs, saying we're going to pledge $30 billion to get rid of let's go Brandon equity in our country. No, this is just kind of bottom up. Where the Black Lives Matter thing B 11 incorporated was totally manufactured. It was absolute top down, and yet let's go Brandon thing is happening why because people are feeling the reality of Joe Biden's
Biz Talk Radio
"$30 billion" Discussed on Biz Talk Radio
"Of the Fed presidents I spoke about one early this morning. Shannon was just telling me about Bullard. Uh, James Bullard from the ST Louis Fed. Saying that, you know. So here we are. We're looking at Um You know, a short fall a dramatic shortfall. Obviously, we've got we've got spending at 6.9 Trillion, and we've got income revenue of 3.8. Um, that means we've got to print trillions of dollars worth of bonds of dead in order to have the money to pay our bills and it this goes back to what I have been saying. So if I'm wrong about this, which is sounded like I am because some of them are saying Uh, there's two are saying that we could see tapering this year start to taper. I said a month ago, and I'm going to stick to it. And so they do something different, But so they just taper but My my opinion is that they're going to cut. They're going to raise rates. Even if it's um 12.5 basis points. We're going to raise rates something and try to avoid tapering As long as they possibly can to try to put it off. Um And I say that because Janet Yellen Could care. I mean, right, she's she's saying, Okay, we raise rates slightly. That won't dramatically hurt us. You know if we raise rates by 12.5 basis points We're probably going to be adding about, uh, $100 billion. Maybe not that much. Maybe 75 billion to our service of our day. If we taper Um, we really got a problem because now we got to find somebody to buy 30 trillion $30 billion of our debt. And that's not going to be so easy because nobody is buying our debt, and I'm saying nobody. I'm talking about governments. China is not buying Japan's not buying. The Netherlands isn't buying nobody's buying. So we get China. Japan are, um, number number two or number three debt holder, the Federal Reserve being number one. So, um We? She has to be pressuring. Your own power. And I say that with a great deal of certainty, because I can't be wrong. She's raped. I would hope that at least if they're not smart enough to do something about the debt, they're smart enough to panic. About The cash flow. And if that is the case she's got to be. And I got to believe it is the case. They've got to be pressuring, Uh, pal, that you can't stop. You're it. You're our largest buyer day. You so you can't stop. That's my thought. But if they raise rates, I would be very happy. But I would like to see both go on like to see, you know, cut 30 billion of debt a month. That we're buying and raise rates by I'm not even asking for a quarter ammonia, asking for an eighth of a 1%. Uh, rates and nobody's going to care about that The markets are going to care. There will be a knee jerk reaction in the markets, so they realize it's only an eighth of 1%. And it doesn't necessarily mean that it is a trajectory that's going to continue for any length of time. Although I kind of think would be because inflation as 5.2% Is really at I don't know 10, 10 and 10.7, at least by now, Um, they got to start raising rates. Even Bullard was talking about inflation running hotter than what? They wanted it to go. Did he say that? Yeah. Again. Yeah. And you know it is And do you heard the I didn't? I was on the era when we didn't hear it. But did he say anything? Alluding to that It wasn't temporary inflation, or did he? Did He dismiss that at all? Or just didn't bring it up? He didn't use the word transitory or say it was temporary. He did say that he expects it to linger into next year. So all right, so That's his way of not saying that's not temporary, like, Yeah, you know, um And I'm hearing company after company I read, uh from company financials. Last night. That It's a It's, uh, CS 30 who I added to my buy list this morning, but I read their financials last night or, uh, I already reviewed their financials. This was something else that I get. Um, I'm able to get And indicating that they are somewhat concerned about not only wage inflation, which is, uh, you know, a big big issue. But they're saying product inflation. So if any of you know the company I'm talking about CS 30, you know that they deal in a number of different commodities. And food, kinds of things. Um, that would not be considered commodities, but, um, are food products, uh, to make their food products and they're saying that the cost the law can't raw materials for lack of better, um, but the raw materials that they're dealing with every day. Are going up to a mathematically so they say that there Inflation, both wages and and raw materials. Is here to stay, and they are, in fact passing on all of it along to the consumer so that that connects the dots perfectly to know when we start to talk about While if inflation is going up, What do we do about that Well traditionally to hedge to inflation has been equities. And that's the perfect way. The explanation you gave just totally connects the dots between how we combat inflation. Hands. I put them on the vilest. So, um, because number one, they're staple. Good, solid, stable and you're going to see Um more hedging. I believe in things like consumer staples. Commodities..
WCPT 820
"$30 billion" Discussed on WCPT 820
"One. A rational conversation. Call 83371174 to 5833711 Rick and now the state of play with former Washington D. C. Mayor Sharon Pratt topic today, access to capital and communities of color, especially the African American community. And now JP Morgan Chase has made a commitment of $30 billion to help bridge this wealth gap. But no matter how you cut it, no matter how you look at it, it appears it's a staggering challenge. There is still significant resistance, and I think sometimes people forget the role of African Americans in our capitalist system was to actually be the capital. Something that was bred and bartered, and that is a tough Starting point to try to catch up and to have any parody in the 21st century for more watch state of play TV, Saturdays and Sundays at noon, 11 central on the Black News channel or go to state of play TV on YouTube. Joan Esposito Live local and progressive on W. CPT Willow Springs is powered by comment. Lower your energy bills and reduce your carbon footprint with the comet energy efficiency programs. You're listening to. W c p t 8 20. Here's the latest Chicago traffic update. On Chicago's one side in the humble Park neighborhood North Avenue is blocked between Central Park Avenue neighbors with an injury accident investigation Now in origin, Harlem and Montrose of Crash In Niles. It's the 121st annual Italian festival Church remains closed between Greenwood in Cumberland in on the Edens. Bit of a squeeze from Wilson under the Kennedy Merge Lake Cook Road Down to the junction 20 abound in 13 Kennedy inbound some type pocket. Cumberland Irving Park here in the downtown 26 Turn off the junction. Outbound. The top of the breaks into the air terminals, eight to the split six and the express 20 onto the airport when the DNA an inbound bumper to bumper from the Stevenson on into the burn 95th on end at 18. That's traffic. I'm married a badges. Remember when you get to work to hop.
Mark Levin
California Governor Candidate Larry Elder's Message to Voters
"Larry Elder. Um, what is the message that you want to say to the people listening all over California? Obviously you've gone through the issues and so forth. But That they must turn out. They must turn out in large numbers. They can't leave it to other people to do the heavy lifting for them, right. Well, that's exactly right. Mark, you know. Are you happy? Forget about Larry Elder. Are you happy that for the very first time, people are leaving the state? Are you happy that the price of a home has just now hit $800,000? Are you happy stepping over homeless people? Are you happy about needles on Venice Beach? Are you happy about the crappy education People are getting K through 12 while spending $15,000 a pop. Per year per student. Are you happy with all of that? Well, if you are, then maybe you want to retain this guy. But if you're not, how about some change? How about some common sense? Are you happy that this state is running out of water? Israel is a desert country mark. We've got a little body of water next to them called the Mediterranean. They've been able to figure it out would be solid nation plants. We have a little body of water next to what's called the Pacific Ocean. And we can't figure this out. Are you happy with how severe these forest fires are? Are you happy that $30 billion was stolen from the employment Development Department money that was supposed to be for the unemployment for Californians money that was stolen, but people in prison filing for unemployment benefits and getting them people, criminals in Nigeria, filing for unemployment benefits and getting them $30 billion stolen. Are you happy with all of that? If you're not go to elect elder dot com And throw something in the tip jar because my opponent Mark can raise and spend an unlimited amount of money. And he's doing just that. From the usual suspects. The teachers union, the public sector unions, Hollywood big terror, So throw something in the tip jar. Make this a bit of a fair fight. If you're not happy with what's going on in California, which is why people are leaving the state taking their jobs with them.
WSJ Minute Briefing
"$30 billion" Discussed on WSJ Minute Briefing
"Escaped the quickbooks. <Speech_Female> Quicksand with <Speech_Female> net sweet by oracle. <Speech_Female> The number one financial <Speech_Female> system <Speech_Female> special financing <Speech_Female> is back net sweet <Speech_Female> is offering a one of a <Speech_Female> kind financing program <Speech_Female> only for those <Speech_Female> ready to switch <Speech_Female> from quickbooks to net <Speech_Female> sweet <Speech_Female> head to netflix. Dot <Speech_Female> com slash. Minute <Silence> right <SpeakerChange> now. <Music> <Speech_Music_Male> <Speech_Music_Male> Here's <Speech_Male> your mid daybreak <Speech_Male> for monday. July twenty <Speech_Male> sixth. I'm <Speech_Male> jr waylon for <Speech_Male> the wall street journal. <Speech_Male> Insurance brokerage <Speech_Male> giants ao <Speech_Male> n. And willis towers <Speech_Male> watson have <Speech_Male> called off their proposed <Speech_Male> thirty billion dollar <Speech_Male> merger saying <Speech_Male> it wasn't worth pursuing <Speech_Music_Male> in the face <Speech_Male> of department of justice <Speech_Male> opposition to the <Speech_Male> merger. The <Speech_Male> doj had alleged <Speech_Male> combination would eliminate <Speech_Male> competition <Speech_Male> in several different us <Speech_Male> product markets <Speech_Male> including property <Speech_Male> casualty <Speech_Male> and liability <Speech_Male> insurance as <Speech_Male> well as health benefits <Speech_Male> for large corporate customers. <Speech_Male> The rising <Speech_Male> cove nineteen <Speech_Male> cases in the us <Speech_Male> driven by the delta variant <Speech_Male> is prompting <Speech_Male> school districts to <Speech_Male> consider changing their <Speech_Male> mask requirements <Speech_Male> several <Speech_Male> big city districts <Speech_Male> including chicago <Speech_Male> atlanta and <Speech_Male> new orleans. driven by the delta variant <Speech_Male> is prompting <Speech_Male> school districts to <Speech_Male> consider changing their <Speech_Male> mask requirements <Speech_Male> several <Speech_Male> big city districts <Speech_Male> including chicago <Speech_Male> atlanta and <Speech_Male> new orleans. Say they'll <Speech_Male> require masks. When <Speech_Male> schools reopened for <Speech_Male> in person. Learning this <Speech_Male> fall the district <Speech_Male> say they are not <Speech_Male> considering a return <Speech_Male> to remote learning <Speech_Male> and at least one hundred <Speech_Male> and fifty people have <Speech_Male> died in. Roughly <Speech_Male> one hundred. People are missing <Speech_Male> in western india <Speech_Male> as a result <Speech_Male> of flooding triggered by <Speech_Male> heavy monsoon rains <Speech_Male> officials. <Speech_Male> There say some areas <Speech_Male> have seen nearly <Speech_Male> five inches of rain <Speech_Male> over the past ten days. <Speech_Male> The heaviest <Speech_Male> july rainfall <Speech_Male> in decades well <Speech_Male> have a lot more coverage of <Speech_Male> the day's news on the wsj's <Speech_Male> what's news podcast. <Speech_Male> You can <Speech_Male> add to your playlist in <Speech_Male> your smart speaker <Speech_Male> or listen and subscribe <Speech_Male> wherever <SpeakerChange>
KCRW
"$30 billion" Discussed on KCRW
"Britain Hey! Oh, hey, Hello. Hey. Spears once again addressed the court Wednesday, calling the legal arrangement cruelty. She used a certain word, beginning with the letter F to emphasize her point. The singer has been represented by a court appointed attorney throughout the legal action that has controlled her life since 2000 and eight remarks in June led to the resignation of her previous of her previous court appointed lawyer and the withdrawal of an estate management company that was supposed to oversee her finances. The singer also said she would like to bring formal charges against her father Jamie over his role in the conservatorship. And finally, Julie Su, California's labor secretary, has been officially confirmed as deputy secretary of the U. S. Department of Labor as case at least Darryl Saxman reports. The confirmation by a 52 47 vote in the Senate came after five months of contentious deliberation. Sue has been sharply criticized for the state's handling of unemployment claims by the Employment Development Department. Just before she was nominated. Sue and the PDD confirmed that California had already been built out of a staggering $11 billion in fraudulent unemployment claims. And the state is currently reviewing more claims that could be worth $30 billion. Republican lawmakers focused on these losses during sues review process and not one Republican senator voted for her confirmation. But solid democratic support pushed her over the top. In a congratulatory statement, Governor Newsom said Sue fought for workers' rights in California for nearly three decades. KCRW's Darryl Saxman reporting. Support for NPR comes from Atlassian makers of teamwork software like Gee Europe, Confluence and tremolo committed to moving work forward for millions of people, thousands of teams and hundreds of the Fortune, 500 at last season.
KLIF 570 AM
"$30 billion" Discussed on KLIF 570 AM
"About how crappy this country is. Go somewhere else and see how ridiculously lazy and s e they are. Okay. Callie telling you Jeez, don't don't forget it is the best in radio. Okay, Gone right. Radio Dallas Next Trending topic. Ernie Brown. United Airlines is going on a $30 billion spending spree for some fancy new planes once again, another top shelf training topic. That sounds like a very big investment. I mean, especially when it's confident down confidence in the well flights coming back, But that's confidence in the market. They're not gonna get these planes. If that's a $30 billion order is gonna be three years before they see these things. The company just placed an order for 200 Boeing Max jets. I believe those are the ones that crash. Yeah, they are. And 70 Airbus planes. Those don't crash as much outfitted with better Why way to be a homer? Entertain? Whoa. Airbus's I think that's out of the UK. We're not the UK somewhere over there. It's here. We'll say France again. Okay, fine. Airbus planes outfitted with better guess this is what you get for 30 billion Better WiFi. Better entertainment screens and extra room four. Not your feet, but carry on bags. How about that? God forbid you get more room, you know, actually, one of my friends as a pilot, he likes Airbus better than Boeing. He said. He said air bud wine there, but they don't crash. Well, No, that's not the reason. He just said he likes Airbus because it's an easier plane to handle. Yes, like the way to handle a little better than Boeing. I don't know anything about planes, but I agree with him. I'll Yeah. Okay. Well as long as you can add your authority there. That's the important thing. You know what he's exactly right. Okay, Steve, I don't anything about it, So I'm a holder. I'll go with bowling everything Jets will grow. It's okay. The Jets will grow. So United United Fleet while allowing it to replace many older and smaller planes. The ones that crash Yes, okay. Ernie. Have you been on a plane since the pandemic began, And do you have a favorite airline or you do or do you just go with whatever's cheapest? I don't go with whatever's cheapest, but no, I don't have a favorite airline. Go with whatever's cheapest. Most people do, and that's why I'm taking on spirit. And that's why that's why flying is miserable. That's why the experience of flying is so God awful is they have tried every which way you can try to get people more comfortable, but it costs more because usually that means you have fewer seats. Yeah. And so they have to charge more and bottom line is people don't care. They just they want to be miserable. They want to complain, but they want to pay as little as possible to do it. Okay. Everything ever since they've been smoking, it's been downhill. Let's face. Yeah, that's that's what it is next to the flu Braniff back in the day. What was that Braniff Airlines? Yes, of shame on you for saying that good. That was the hometown that was the hometown airline. DFW. Next training topic. If Clarence Thomas. You know him? Supreme Court justice I've heard of him. He is saying that federal marijuana laws may no longer be necessary..
WBUR
"$30 billion" Discussed on WBUR
"The airline is purchasing 270, Boeing and Airbus jets. And it's a big bet on the future of air travel. After the pandemic here and now transportation analyst Seth Kaplan is here and Seth What is united getting and how much will it cost? It's getting as you said 270 jets more precisely. 200 of those Boeing 7 37 Max jets. Yeah, those same, Maxjet said. Of course, we know have had a lot of trouble over the past few years. Fatal trouble. 346 people died in crashes but Boeing things that has righted that ship and here's a vote of confidence by United also 70 Airbus A 3 21 years is are called, So These are all single aisle. Jets, the kind that fly generally, domestic flights are short haul flights of and and rather large ones of those varieties, some of the largest that you can buy in terms of the A 3 21 years. Of course, $30 billion is the list price of these planes, but almost certainly United's not paying close to that. Well, so why now? I mean, isn't this a company that lost $7 billion last year and accepted billions more in federal aid? Yeah, but that might be precisely why now, you know, because this is a bad time. This is when you get discounts on planes and they said the asterisk there we say $30 billion at list prices, Airlines has never paid less prices. But it's when times are tough for not only airlines but also for manufacturers like Boeing again. If you think of those issues with the MAX planes the airlines for a while not taking orders first, because of the issues specific to those, and then the pandemic. That's when you get a good deal on planes in there. You know, you might look back on this a decade from now and be glad it bought planes at a moment like this. Later on, when demand is higher. Was United Fleet, old or outdated. Well, it was older than fleets of its competitors looking at Syrians. Fleet Data United on average, its planes are a little over 16 years old. That compares with about 15 years by the same measure for Delta and about 12 for American that includes planes that are parked right now, including some planes. It'll probably never fly again because of everything that's happened recently, but But anyway by that sort of standard measure United, the oldest fleet of the three big U. S Global Airlines. Well, maybe not for long, So let's just go back to this. 7 37 Max. Acquisition here for just a moment 200 of them. Now That's got to be good news or feel good for Boeing in the confidence in their brand after those Max jets were grounded for so long. Definitely It's what it needed was. It was a big headline order like this from one of the world's biggest airlines. This isn't the first order for Max jets, since all of the trouble, But you know when you have an airline like United, placing an order like that, Certainly good news for Boeing Financial is going to take them a long time to recover from that, because again, it's not just the number that you're ordering. But it's what you're paying for them between MAX issues and then the pandemic. United is not charging for these planes, almost certainly what it wishes it could have been charging by now years into the program, but at least it is Taking orders a better situation than it was in just a year or so ago. All right. Well, that is here and now transportation analyst Seth Kaplan. Thanks very much for your insight, as always. Thanks, Peter. And you're listening to hear it now. Mhm. Mhm. Thank you. Mhm Mhm. Mhm Mhm. There are shortages of all kinds of stuff in this economy right now to explain one reason why we played a game. Now you can see what happens here. Okay? What happens in these supply chains is somebody gets nervous and orders more. I'm Kimberly Adams Beer, a game and global supply chains. Next time on marketplace to 96 30 on 90.9 W. Bur Boston's NPR news station..
Bloomberg Radio New York
"$30 billion" Discussed on Bloomberg Radio New York
"We say Yeah, a lot of distractions bankers in Washington and that John, You know what I see Futures off features up and you know it's pretty stable, getting comfortable. South of 1 60. That was the story yesterday as well, Tom, even in the face of a very subtle shift from Vice check, Clarida. There was a vice chair cleared, and there's a lot of really good Bloomberg journalism today about the future of the Fed in that, But John I don't think we're making enough about the reset year on what GDP will do We get a second look at GDP in this hour. That will be important, But John to me, there's a bet that the world's not gonna end Q three or Q four. But it is going to take Sala right the growth story of this year so far. We need to get our heads around. What that actually means for this market DCP extra stay for an hour or so ago on this program, Tom looking at 1.8% GDP growth in the near term. It's just around the corner after the boom we've seen next year into this year into next year. That's severe deceleration back towards trend growth, and that's going to raise some questions about whether you want to stick with this cyclical trade on moved to grow, John That's well, Certainly So what it comes up to. Here is the basic idea of a Washington with the testimony today, a bankers and the other ballets in Washington are they doing politics for a boom economy or for the 1.8% GDP John speaks about. It's a good question how much guides would get from bank CEOs in terms of whether they do see 1.8% return to Ah, Average GDP that we've seen over the past several decades. My question is, though, talking about all the cash that banks have. Where else is it going to go? If it isn't into stocks of companies that are paying higher dividends that are actually producing profits, even if potentially at a lower pace? John Farrell on this day of the 125th anniversary of the Dow Jones, Thanks take industrial Average. I think of GM in the twenties, and, of course, Dearborn doing so well, look at that headline from Ford. What, John, You've been talking about a changing American and global economy for the boost electrification by Amazon like 30 Billion by 36% Expecting 40% of global volume to be all electric by 2030. Tom. They're the goals of this company. No, I think our goal is to still be on Aaron 2030. Well, maybe just Talking to each other in 2022 Let me get back. But he's out of the way here. I'm gonna quote the Dow Jones Industrial Average up 65 points. 34,330 60 SNP. We look at it occasionally 4200 up 12.25 points critically. John the vics coming from 21 in 18.44. That's my lead statistic this week weekends for this really important transition. We caught up with Gabelli funds early around this morning, reward the transition towards recovery from that towards expansion, and then from there, deceleration And what does it make for this bond market, And that is going to be the key issue Every morning. We wake up Treasuries. Doing what they tell you Right now. I don't know what 56 on tens, but that's the story. Well, it's a story there in a girl's we noticed throughout moments ago, Lisa leading with that chart on strong Renminbi is well, Lisa. What do you see an I G and a high yield before we get to Greg Bottle If you take a look at the extra yield that investors demand demanding over benchmark rates, an investment grade it's at a post crisis low. Basically, we're looking at the lowest spreads. Since the 2000 and eight miles out, and it raises a question about how much cushion investors really are receiving against. Potentially higher rates aren't happens. Sorry, it screams 2006. I mean to both you But John, I mean to get the lisas profound insight there on creds. Credit spreads tightening, and then you say you're over years Case Shiller yesterday. Up solid double digits. John, I'm sorry. It's 2006 You think it's a mid 2000 dynamic mid nineties, the federal Reserve that doesn't start high consumed enough. Do you think it's that Sue s? That's the gloom crew. You know the pendulum in 2006. I will say that there is a difference in terms of the amount of leverage in this system this time job just to be very clear, even with child issue into the record high yet again, you aren't seeing Tom the same type of leverage. CDO squared as you said yes, to swell rose this morning. You sent it Almost bullish on credit. Then we so bullish. I'm just explaining why it's disgusting. Okay, Thank you. Good. I think that's very important here and you know, I've way have to have this, uh Banner codified there Right now. You have heard of this surveillance exclusive. We do breaking news and exclusive numbers, and we mold them in together, that she's got that anyway. Shouldn't work is not bullish, very important to see that. This morning. Speaking of bullets, Craig Bottle joins us the BMP Perry by to save the program this morning, Greg, are you bullish? We are, but we're looking for a slowing rated equity gains. There's definitely some storm clouds that we're concerned about. Credit is very tight valuations very elevated. We do have this uncertainty in terms of the macro data when we look further out, But for now, we think there are a lot of tail winds earning season was chief amongst them. Like the story. The moment growth speaking, we go through this recovery face into an expansion phase. That was what Howard Ward of Gabelli talked about earlier on this morning when you start to make these kind of transitions, Greg, how do you make a transition just in terms of capital allocation? I think one of the things that we've been talking about you touched on this a little bit earlier, John. When you mentioned this move, potentially should you move from cyclicals into growth, and we think that there's maybe a middle bound. We've had this extremely bullish environment for value on the cyclicals over the last six months, I'm rather than give up on that trade. We think it has fervor to run and jump back into growth. There's a middle ground where maybe we can start to look of value. But try and look a value of more of a quality till and interestingly enough in the context of your programming this morning, something like the Dow probably fits quite well in that. How here we can't great battle. Walk me through it. And you telling me that in your strategy? No. You're talking about how to get allocation exposure to the doubt. We have been, and I think in the last 20 years is probably the first time I've talked about it. I think there is another argument that rich, though the history is the Dow is a little bit anachronistic in terms of how it's constructed. But when we screened through the global indices on, we look for indices that have positive exposure to value. Something like Russell comes up, but as very negative exposure to quality when we look at quality things like the NASDAQ comes up, but very negative exposure to value. But something like the Dow actually fits quite nicely and in between has positive exposure relative to the other industry in indices for quality and value. I think about the Greg Greg the idea that the Dow is really pegged to the old economy, and the old economy has gotten a boost from some of the infrastructure spending the higher commodity costs and then you get a headline. Like what? We just got. Put forward plans to boost electrification spending by 36% to $30 billion, hoping to really ramp up how much of its fleet really is electric. How much could this bed in the old economy didn't be disrupted by new economy Do environmental types finish tips? I think it's already interesting question and one of the things about the new economy. Electrification is things like copper are very necessary in perform some of the evey infrastructure or some of the green initiatives. So some of the industrial cyclicals actually some of some of the stocks that are quite well placed to participate from this on in terms of the expansion that we've had Yes, it's been driven by a cyclical recovery of reopening trade. But we still haven't necessarily had the boost to come from infrastructure. When we look at things like the commodity complex. We had a commodity bear market in the middle of the last equity bull market if you look at the trailing five year average for the camp, expend from some of the materials or or mining stocks They are incredibly low levels. So we have this very tight supply picture, and we have demand that even though some of it is priced, is continuing to expand and if we get a further fiscal boost from the administration For infrastructure the back end of this year. That's gonna drive more demand against tight supply. And I don't think that some of the traditional over economy stocks actually that badly position to participate..
Pat McDonough
Kansas City Southern to Combine With Canadian National in Roughly $30 Billion Deal
Garret Lewis
Canadian National Makes $30 Billion Topping Bid For Kansas City Southern
"City Southern had jumped higher in late March on news Canadian Pacific offered to buy the company and the shares rallied Another 15% this morning on his Canadian national railway up that offer by 50 Bucks, which may start a bidding war. Out component. IBM of
News and Perspective with Tom Hutyler
Uber Posts Record Demand for March
"Bookings in the month of March, signaling a pick up in demand for its ride, Hailing business. Over, says its mobility business posted its best month since March last year with an annual ized run rate of $30 billion, which was up 9% from February. It's delivery units, meanwhile, reached a record annual run rate of $52 billion in March, more than doubling from the previous year. Regeneron
Noon Report with Rick Van Cise
GE, AerCap join air leasing businesses in $30 billion deal
"General Electric has reached a deal to combine its jet leasing business with rival air cap. In a deal valued at $30 billion As G moves to reduce its debt load. The creation of a new industry giant could mean airlines get better deals on planes has a larger leasing company from Wrangel. Lower prices from Airbus and Boeing. Shares of G, though, are tumbling 4.7% Today. It
Squawk Pod
Latest Stimulus Package Could Jolt U.S. Growth, Revive Inflation in 2021
"First. Up today on the podcast. The markets and understanding is certain. Divide the anticipated one point. Nine trillion dollar stimulus package set for house passage today and recent rise in bond yields due to expectation of inflation higher. Prices have worked together to create something of a market split in the last few days as investors favour stocks tied to a recovering economy think industrials construction over the tech stocks that shine during the pandemic. Think all the stuff that powered are stay at home lives. Yesterday though technology growth stocks ward back and tech heavy nasdaq rose three point seven percent. Its best day since november it actually fallen into correction territory just the day prior that means a drop of or more. Recent highs
Bloomberg Surveillance
GE, AerCap join air leasing businesses in $30 billion deal
"Finally making good here on that strategy to continue to lean out G E course that deal to offload the air leasing business over the air cap. A big deal for G That's 24 billion in cash in its pocket and presumably in the pockets of its debt holders. Another six billion or so In equity in the new venture, so they don't actually asleep, participate in any upside that air cat gets out of that venture there, Bowing actually rallied
NewsRadio KFBK
"$30 billion" Discussed on NewsRadio KFBK
"The state on Sacramento's news 93.1 kfbk Good evening. I'm Joe Michael's several California Assembly members are introducing a package of bills to change the way the Employment Development Department does. Business E. D. D has been plagued by old technology and old processes. For years, there's still massive backlogs of claims and maybe as much as $30 billion in fraud. Assemblyman David Chu from San Francisco. What we had heard for Many, many months was. That entity was focused on fraud to the exclusion of getting benefits out in a timely way, too honest Californians and what we learned from the audits was they were actually doing. Neither Chu is leading the reform effort with plans to set up a fraud task force that might be able to recover some of the money illegally paid out. Reform package also creates an E D d Oversight board and an office of claimant rights to help people with legitimate claims get paid. All of this still needs legislative approval and the governor's signature Greg Fishman News 93.1 KFBK, Placerville Police have arrested two people in connection with the death of an 11 year old boy. Roman Lopez was initially reported missing from his home last January. Police searched the house at that time, found his body in a storage bin in the basement. Police chief Zhou Ren says the boy's father and stepmother have now been arrested. They were captured in Calvary's county last night in charged with several crimes, although in autopsy revealed no obvious signs of trauma. Roman was found to be severely malnourished and dehydrated at the time of his death. Chief friend says charges include torture, failing to provide for a child and poisoning The parents are now being held in the Calvary's County jail will eventually be transferred to El Dorado County and arraigned within a few days. Former Republican congressman Doug OC is considering running for California governor in a possible recall election aimed at Governor Gavin Newsom. OC says voters are looking for new leadership following the state's poorly planned vaccine rollout and Newsome straight.
Wisconsin's Afternoon News with John Mercure
GameStop shares plunge as investors bail
"Social media driven frenzy drove its stock up nearly 2000% since early January. Shares of Gamestop, which on January 28th were riding high at $483 apiece. Are down 87% over the last week, The unusual plunge has locked more than $30 billion off the company's market value. It's sort after amateur investors on a Reddit discussion board piled into the shares, with some traders declaring war on Wall Street hedge funds that had bet against the company
WCBM 680 AM
"$30 billion" Discussed on WCBM 680 AM
"And we've talked about this earlier in the show, but a lot of people, Tony and you know it's 7 38 o'clock in the morning, Sean, the kids who were here. The ice on Border Patrol been trying to find their parents now since the day they arrived. The parents don't want them back there hiding Or they were stolen. The kids were stolen, and they have no idea where their parents are because they're 2.5 of three years old man. As we said earlier. There's no way that returning those kids to their parents. If they live outside of the United States, That's not gonna happen. These air future Democrat voters. Always, you know, America was energy independent for the first time in 70 years until Biden came along, and now again, you look at it. Tens of thousands of jobs have been lost. And by the way, the latest outrage there's some serious Severe Biden remorse going on in just two weeks, two weeks since he took office. He's now killed tens of 1000 jobs his first day in office when he canceled the Keystone XL pipeline, and now we find out the Trump administration left $30 billion in a fund to help farmers suffering from trade wars. Biden is now going to divert that money to his pet projects on climate change. So if you're so that's only fair that people of Solyndra have been unemployed now since the Obama administration, so if if if your family on the farm or you again have been hurt by the trade wars Trump took care of you with a $30 billion fund. That's all gone away now so we can mess with this climate change. Nonsense. The Pentagon is now purging. Listen this they're trying to erase all traces of the trump ministrations. The new Defense secretary Lloyd Austin. Hey, is now had a zero based review of 42 advisory boards, which means they have looked at every advisory board appointees by the Trump Administration on each advisory board. On political advisors, etcetera. Everyone that had a trump appointee has now been canceled, Fired removed 42 of them. You talk about a remember when the Bush administration fired the U. S attorney's, which is their right. There was a big stink of the media on that. Here we have 42 boards cleansed. Of Trump appointees literally overnight. No big deal. So it's just more of the same. And of course, have you heard the White is the Biden White House? Is asking for submitted pre written questions. Yeah, to the you know, they don't want to be surprised, John. No, you know, they want to be able to script Joe carefully before they ask questions of him. So that he's ready to answer. Otherwise. Gosh, you could have pandemonium there. A 13 traffic.
Esports Network Podcast
Roblox IPO Update
"This year. They've been talking about an IPO and that was originally they announced they were going to do in November and December. They're like, actually we're going to delay it. You talk about sort of their decision to delay that IPO and instead raise the series 8 Round which came with a much higher valuation. You make the argument that hey this was a really nice called a delight to take us through why would a company would make that decision? We're going to delay the IPO and what Roblox gained by doing? So yeah. So I mean, this is a a pretty interesting and strategic play by by the CEO of Roblox by you know, the originally anticipated a traditional IPO for November and then they delayed it then back December but the second delay, I'm sorry in December they decided to delay and a lot of that had to do with what they saw happening with Airbnb in doordash. Those were two months, you know, highly successful IPOs both of them pretty much doubled on day one and so it kind of made Roblox think okay. Are we leaving something on the table here? Right because the original birth And when they wanted to IPO was was an average valuation of of eight billion. That's kind of what they were targeting. Right? And so after seeing what happened with doordash an Airbnb, you know, they felt like okay, they're an appetite here for investors to actually value robots in a much different lens. And so that was the you know, the option that they decided to take and so there there was a comedy there was supposedly a company-wide memo that explained to the Roblox employees as far as why decides they decide to take it off and revisit this strategy and so from December leading up to about January to your point. They actually were able to gather another round of Investments through a series agent round that valued them at twenty twenty nine and half billion. So, you know, you literally go from an eight billion valuation to a 29 and 1/2 billion, which is quite remarkable, right? And when you put that into perspectives you look at epic Gaming right and you look at their recent valuation went down. Leave I think they dropped about a 250 million investment that valued them roughly about 17.8 billion time around that ballpark. But you know, you take that into perspective right? You got a very successful such as fortnite that has the Unreal Engine. They've got a great ecosystem here and there at Seventeen and half and yet there's investors here that are valuing Roblox now at close to $30 billion, right? So Thursday impressive and I have to imagine now, you know epic Gaming evaluation is probably significantly increased. And so now you know it could you know, when you look at that as a comparison like, okay. Well, wow, these are two very successful franchises, but with a much different strategy, right Roblox is clearly a platform gaming strategy versus epic is a lot more of building in Palm Coast system around gaming and even outside of just gaming right the comparison to Epic Games is so interesting because I think people would assume dead. It's a more valuable company than Roblox. You mentioned the two different ecosystems. And you know with this is being said with the caveat that you're right. The Roblox is new valuation may have it as sort of a Leap Frog situation with epic games where they can take that and go to somebody else would be like actually we thought it was $70 billion now, we now might be 35 or whatever it like it sounds absurd but based on what Roblox did this year? It's clearly has a model that that could exist. So why does Roblox have so much value when compared to epic games that has that owns rocket League? They have fortnite they're bringing in all these different Major Brands into fortnite. They have the epic game store. I mean, they felt cocky enough that they got into a lawsuit with Apple after all. What is Roblox? What where's the intrinsic value from the company coming from? Yeah. Well what's impressive about Roblox was the abilities to build dead? A platform that targeted a market that probably wasn't as heavily looked upon right when you think about fortnite. It's a little bit more on the teenager Spectrum, maybe above but when you look at the Roblox a platform it the average or the the their sweet spot is really the nine year olds thirteen year old demographic right? And so there weren't a whole lot of platforms that were developed. I mean you can argue maybe Nintendo switch or even the weaving of platform but I think robots was able to sort of expand apply the this from a mobile gaming but also you can play Roblox and PC. So there's a lot of different platforms that you could play it on. That's more widely that can be more widely distributed towards kids right versus a Nintendo switch. You've got to convince your parents to spend an average of 3 to $400 on a on a system or a console. So I think that that's number one and then it's I think the reason behind the valuation here as well is when Roblox did wage Our file for an IPO they did have to of course release information. They're asked one and it was quite intriguing information that they released as far as their their daily active users and just the hours of Engagement due to the Panthers made their hours of Engagement pretty much doubled from roughly about 4 and 1/2 or four billion to almost close to nine billion hours, right? It's crazy when you think about that number, D E Yeah it like nine billion. I mean, you know to put that into perspective right you look at twitch twitch obviously is a very big streaming platform and their average wage, you know hours of streaming double during the pandemic as well, but it went from roughly about 2 and 1/2 to you know, a little over 5 billion hours, right? So you look at ROBLOX, you know, like oh, this is just one Platform One game will maybe not one game but one platform, right and they're able to track 90 million hours versus something as widespread as twitch is is is trailing in, New Jersey. Five billion in streaming hours, right so crazy to think about that. But then you also look at the daily average users of kids that are playing. It's like somewhere close to like 35 million daily average users. And so you look at that potential of the amount of kids that are playing this the amount of hours. I think if you do the math, it's roughly each kid playing it from roughly about 2 and 1/2 hours per day off, right and that's a lot of time right and and the question becomes now is okay. Well is that can even continue number one post-pandemic? I think that's where the speculation comes into play. But even if it doesn't look at how many kids had gotten onto this platform that are only going to continue being on that platform for at least several more years and then that a monetization that they've been curd based on their virtual currency Robux. I mean when you put all of that in a play-off like that's where the valuation comes in a place right? They've actually been able to monetize this amount of frenzy that these kids are going on this platform and buying, you know, using these robots to age. Not even enhance the game per se. It's really more for skins right or or how do they enhance their Avatar which is which is mind-blowing right when you think about all that. The Skins whole whole industry is the
WBZ Afternoon News
Microsoft is investing and partnering with GM's Cruise on self-driving cars
"Electric cars. The two companies are leading a $2 billion investment and self driving cars started cruise. To use Microsoft software for robo taxis. The new funds will raise cruises post investment valuation to an estimated $30 billion gains for stocks today. Dow Up 116 and wrote a Bloomberg business on WBZ
The Business of Esports
"$30 billion" Discussed on The Business of Esports
"Roadblocks raises five hundred and twenty million dollars led by ultimate or capital and dragonair investment group so <hes>. They announced today that they raised their five hundred. Twenty million dollars in a series h a purchase price of forty five dollars per share. If you do the math and all that sort of stuff it values the company at twenty nine point. Five billion dollars. Let's call it thirty right. The i don't know why they priced it. So it's twenty nine point five thirty sound so much pathetic. Let's call it. Thirty billion dollar valuation <hes>. House spot on where we kind of wish we could sort of <hes>. You know splice in the conversation. We had honorable extra because not only. Did we say this would happen right. That they would do private round where they've announced that they're going to do a direct thing not an ipo. So this is essentially their ipo fundraise right. That's how it directly thing works you raise the money privately and then you avoid sort of the the raise you do. That's part of the ipo on there for you. Avoid the show you avoid having the price shares and things like that so the has now been priced. It's effectively an ipo. it's not publicly traded. Yet they're gonna do public listing but this is the financing and we called the valuation. Right now i think we said based on unity's valuation. I you know. I think we agree to was probably going to be in this thirty billion dollar bar ballpark and we have longer. It's insane how close they <unk>. Called it. I'm also surprised at this point. They don't round it up like like i just weird like you could call it a thirty. It's twenty nine point five. You can bow out that up like what who thought that sounded better lake. Like what's half a billion dollars point by. We're joking around. But yeah. I mean this is humongous. It's humongous your particularly william the the quote from the ceo of one of the funds that invested. Because i think this is telling. And maybe you have some thoughts on this it listen to the subtleties in the language here. He says while once viewed as a gaming platform roadblocks has emerged as the definitive global community connecting millions of people through communication entertainment and commerce said. Brad gerstner ceo. Tim under if you didn't know better what would he be describing a social network right. Yes like you don't even have to wait. I was literally like an listening to you. I'm like this. Sounds like facebook like this and most social networks go through that branding period where they get past their initial audience. Right think of facebook. Facebook used to be just for college. Kids right am i mean literally it was supposed to be like this is common knowledge but be supposed to be like the facebook that you've got as a freshman to meet new people right like that's why it's called facebook <hes>. And now it's now. And i'm sure at the time they were describing themselves as a great platform for college age students to discover each other and forge friendships. And it's the same thing here. They are talking about like they would have said previously were gaming. Now wear something. We've expanded where social platform and that's insane because it. This is first of all what i think. We said. We felt like i think should have done. Ns feels like messaging. That should have come from epic from. This is how they should have been describing fortnight. So it's very it's surprising to see it from rob blocks. it's refreshing because i'm glad somebody has this messaging. Somebody is looking at games as social networks and trying to turn a game into a social network which is really potential right. And i'll see this last like for longtime ever since. I wrote the harvard business school case or co wrote. I should say on world of warcraft. I felt games are social networks. I'm not alone. i mean pretty much. Everybody who's thought about it realizes they're pretty much the same thing <hes>. Right but it's interesting. To see this. Crossover into an investment thesis with this much money behind. And i think given the success of this. It won't be long before we see other dame's and game companies realize their social networks. Still think it's gone too far right like i was. I'm i've been so pro. Roadblocks right called the valuation called. This move loved the big number here right. it's own good for the industry. There's there's really no downside to any of this right in fact now thirty billion dollars again in kind of the context we're talking in. The context of a social network is a pretty cheap social network. Right when you're talking about the facebook and the twitter like where you're talking valuations in the hundreds of billions <hes>. This is a pretty cheap social network and so super cheap for the number of users. I'm sure it has in the monetization per user. I bet it's it's bargain-basement steel which is probably part of why they want to calm themselves again. Social networks but like. There's a question of does this go too far right. Where the investor says while once views viewed as a gaming platform as if the daming days are like ancient history when you walk into rox. You're not playing a game right now. Either to be fair. Like i think this is okay like i really think mrs okay. Because like it's fair to say that their social and commerce activity going on and that their primary drivers and i've always been kind of a believer that raw blocks was not and i don't disparage anything here. Blake pound for pound. It's not the best game out there right. I'm sure there are many young kids and fans. That would just be with me. But i think fundamentally the reason why it's been successful is a game is not that the underlying game or game mechanics itself for so incredible or so unique <unk>. Was because it was a social and ecommerce platform hooked into a game and the game was fun to play because of the socialization features in the commerce hawks. So you don't think language goes too far. I don't think it does in this case. No no like. I and i'll put it this way like if fortnight were describing itself that way without some major changes. I'd say i appreciate the aspiration but that's reaching right now but it's really does have other hooks in it. You know it really does right. So i i mean it's death. Look it's definitely like definitely you know a vanguard language right like it's somebody trying to change perception of the business but as long as the strategy meets the attempt to change perception. I think it's good for them. You know what. Let me let me push this one step further because the article ends with you know. Typical of a press release about blacks about altimeter capital right. There's always like the about sections for the the companies mentioned in the press release. Right and roadblocks. Let me just read the first sentence again. It's like there's a question mark here is this to have we gone too far right and the and the sentence here is roadblocks mission is to build a human co experience platform that enables shared experiences among billions of users so no game gaming in that sense but experience twice human once shared once billions once. You know it's a lot of good word into a lot of good words. No i mean. Look i mean. Clearly clearly it will remain to be seen whether or not their messaging this way to get a great valuation or if they're messing this way because they generally believe the platform can grow into that mission right. I feel like borderline disingenuous in the messaging. I like i said i'm the biggest fan of roadblocks. I love what they're doing. I think they've achieved and probably will achieve what fortnight should have in terms of growing outside of being a game. It's just like when you don't even mention it at all. I would like. I would like somebody who say like most users download custom levels and it would be like reading. A tesla press release and the word car is not used or automobile. Like is why don't they read that way anyway. Toby start with. Tesla is the future of human transportation or something. But i actually really don't know. But i mean i agree but like i mean the end of the day like i'd rather i. I think it's great for gaming e sports. Because i know sometimes we got a little bit of criticized for doing gaming news on east but the reality is this is so core to what's happening in interact entertainment like we can't discuss this right so it's the first then. The second piece is like okay. So you know i get that flake i get. This might be reach. And i think probably internally they're going to say it's a reach but i again i appreciate the fact that the market is recognizing that games can be more than games right. The games can be a bridge into something and fundamentally what games are about like interactive worlds. Can be a lot more than just half life in street fighter. Rife and i think whether or not they execute this change so fully as to earn that mission. I think it's going to make it easier for the next business to message. We're gonna see more businesses messaging mess name as a result will see the games media mature into more