35 Burst results for "Black Rock"

"black rock" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:35 min | 2 months ago

"black rock" Discussed on Bloomberg Radio New York

"The global head of shares and index investments for Black Rock. That group runs about $4.6 trillion in client assets. Salim comes to us. With an economics and politics degree from the University of Toronto. And a law degree from Cambridge University. Selim Rahm. Jim. Welcome to Bloomberg. Thanks a lot, Barry. It's great to be here. So that's an interesting background Toronto to Cambridge University doing law prior to joining Black Rock. You're a partner at McKinsey. How did that transition from? Consulting toe asset management Come about. You know, I haven't thought about in a while. I had worked with Black Rock and worked with the shares for a number of years as an advisor before I joined Back with the shares in 2005. I, I and with Black Rock had gotten to know the senior team around the time of the murder with B G. I And it was back in 2013 after I've gotten to know a bunch of the senior leaders and a bunch of members of the firm and really like the culture that Larry had approached me and Ask me whether I wanted to join the firm. And after a couple of discussions actually turned him down. He handled it pretty well. And a week or two later, Perry I was speaking at a conference and are late partner, a guy named Charlie Halik. You'd really built the Aladdin business and was the co president of the firm before he died. He came up to me on and he said he said, I heard you turned us down, said yes. And then he asked me why I was such an idiot. Hey, put it in a slightly more colorful terms than that. But then he sat me down and explained to me answered his own question for about an hour and explain to me why I was such an idiot. And the very next day, Larry Callback concluded. The two of them were includes. And I've accepted the offer. So I'd say it was a bumpy kind of pre start. But after a couple of wrong turns, I came to the right decision and I have wanted ever since ever since that day, so You go from global head of corporate strategy. How do you migrate TTF and indexing from that? It doesn't seem to be a natural path, or am I You know, misunderstanding that looking in from the outside? Yeah, There was one important beat in between. And you know, I can't say I was. I was the head of strategy for just over a year and truthfully. I'm not sure that I had a major impact in that one year on the firm. So what? It was really useful for May Wass. I learned the culture from the inside. I built relationships I've really learned out the place worked on DH, You know, black rocks, unique place and we're a large public company, but there are aspects. Which feels like a small family run business because we still are run by our founders. And I think for me in that first year, getting an appreciation of how the firm works and operates and what some of the magic is inside, I think was really important. The first place that Larry and Rob Pepito had asked me to go after that year was her US wealth business. In Rus Wealth business at the time. This was back in 2015. Was really in the early days of bringing together they're active investment teams and their index investment teams. You know, these two groups that kind of grown up almost warring tribes, and the goal was how do you bring them together? And how do you re orient the whole business around? Financial advisor's wealth managers, principally big TVs, wealth managers, which you're well familiar with and how do you really reorient the business around helping those clients still the better portfolio? And so by the time I left a few years later, the U. S wealth business became the source of more than half of shares closed globally and so I think it was a very natural than extension. That when Larry called me up just around two years ago and said it was time for the next move, that I went into this role around iShares and our index investing business, quite fascinating. So let's talk a little bit about that index investing business. The index funds more or less have the assets run themselves. But the business of F says anything but passive. How do you describe what you're primary responsibilities are overseeing? Indexing and chefs at Black Rock. You know, one of the luxuries I had when I was running our client areas in US wealth. Was. You always got to assume that everything worked. And in my current role, there's a lot of underlying engineering and precision and making sure that the whole ecosystem works. So one big part of what our team's d'oh Is really making sure that our index exposures whether they're in indexing in often index separate accounts that they track precisely. That they have great liquidity that they have great tax efficiency that we're working with all of our partners across the ecosystem to make sure that they work all the time. And I think that's one huge undertaking in terms of people and technology and partnership across a broad range of providers. That's one essential part of the role because You know, we're fun talking about Jeff's a technology and they are But the thing about a technology is that it's gotta work, not some of the time, but all of the time. And there's a big first sort or undertaking to make sure that that happens both stand in in our separate account. I take a second thing Berry is really about the nature of E. T s themselves. And increasingly, they're doing much more than they did. You know, 20 years ago, when I share his first cut off the ground that what we're starting to do more and more is not just increased the access of chefs and some of the moves that a number of the platforms that announced last year towards commission free trading kind of certainly helped that. But they're starting to really be much more essential parts of whole portfolios even beyond market. Cath waited indices. Something's like factors and things like Yes, we are. Increasingly things that take active risk are increasingly becoming part of what he s do. Coming up. We continue our conversation with Salim Ram Ji, Global.

Black Rock Larry Callback partner Salim Ram Ji global head Cambridge University US advisor University of Toronto Selim Rahm Rus Wealth Bloomberg Toronto Jim McKinsey Barry May Wass Aladdin Charlie Halik
"black rock" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 3 months ago

"black rock" Discussed on Bloomberg Radio New York

"Okay, Gina. Catch it and eat your question. You'd look till everything gets black Rock in March to April and may ready to charge was if you could tell us a little bit. And if the topic of this conversation is with the proper credit facilities out huge potential conflicts of interest conversations. So, So black Rock is just our agent. And, you know, we make the policy decisions in conjunction with our colleagues and and they just execute our our plans. I actually don't remember exactly what I would have been talking with him about, but he's you know, he's the head of a major service provider. He generally checks in to find out whether we're Okay with the quality of the service that black rockets providing I don't have the daily face to face interaction with anybody else at Black Rock. Or or as you can see three phone calls in the course of a few months. It wasn't Very many so. I think they're you know, they're conflicts are managed extremely carefully in the contractual arrangements we have with them. On and again I would have. I can't recall exactly what those conversations were, but they were there. They would have been about what you're seeing in the markets and things like that, too. You know? Generally. Exchanging information and he's he's typically trying to make sure that That we're getting good service from the company that he founded in Leeds. That's that's I'd say That's his main objective when we talk OK, thank you. We'll go to Scott Horsefly..

Black Rock Scott Horsefly Gina Leeds
"black rock" Discussed on WZFG The Flag 1100AM

WZFG The Flag 1100AM

06:16 min | 4 months ago

"black rock" Discussed on WZFG The Flag 1100AM

"Of Black Rock a mega financial Corp getting in bed with our U. S. treasury and the federal reserve are we financial slaves to Black Rock to now well boy it does take a rest this on this one couple days going back on the banking committee I pose this similar question to J. Paul the head of the federal reserve in fact you know I've talked about a number of times offline but I did challenge him on it on on C. N. B. C. actually and the other committee hearing also Martha McSally senator Martha McSally from Arizona and I sent a letter to Larry Fink the CEO of Black Rock it just this week asking some similar questions so mine owned by the we raised this with the president and and and secretaries Mnuchin in the in the White House when we had our meeting with the oil executives a couple months ago to talk about the oil industry a couple of problems with Black Rock first of all here's the assurance that J. Paul has given me many times as has Steven Mnuchin they keep bringing it up because I want them to know that we're diligent in watching it blackrock it definitely has some expertise as as a as a lender as investors that don't exist in the federal government their advisory to the carers act it particularly the pieces that the federal reserve and treasury do together and that's the that's more one and a half trillion dollars worth of the lending programs like the main street landing pro by the program and some of the other landing and and their credit tools do the carers act but they do not they do not determine policy the policy is determined by the by the trump administration and by the federal reserve and so forth landbank medium able to drive down a bit the problem with black record this one isn't there they have become very green if you will in terms of their investment they've been bullied by his left wing extreme environmental groups now it's not ironically probably not unusual but maybe ironically Larry Fink gets no credit or slack from green groups even though he has caved to them many times in investment policy he is here in in a border border if the price is a board against the board position on several investments and in terms of that ammunition and firearms payday lenders it's obviously possible fuels us so so so we put them on their feet to the fire many times we being me basically with the others that have that sign on the letters that I've written either to secretary of I'm sorry sector treasury the federal reserve and now to Larry Fink himself the other thing though that the problem with blackrock is that they have a lot of Chinese investment and China has a very different well the Chinese companies do not meet the standards of American companies are comes to enforcement when it comes to transparency when it comes to public accounting it particularly under a public accounting standards and we have very strict standards in the United States with nice these companies China does not so we've actually we unanimously passed legislation a couple weeks ago it forces the same standards or higher on on Chinese comes your foreign owned companies as our American companies literally we were introduced it and it passed within days unanimously and so now we have to work with the regulators make sure they're watching it all very closely so I believe me I'm as you can tell I'm passionate as well as pretty familiar with the Black Rock situation and scenario but be assured that they keep reassuring me and like you said just this recently as Wednesday in public federal reserve chairman J. polisher me again that they have no policy guidance or authority whatsoever with the with the federal government we'll call that came in during the break Kevin you wanna roll out or Todd do you have it I forget who has a good morning all four wheel wall to wall off because if you don't all three four four very last Monday said are we allowed to wall off a certain part of our neighborhood asking for a friend I understand that I understand the premise of the of the quote has a president been set in Seattle yeah it's pretty bizarre isn't it I mean it's pretty darn crazy that that you're here here's the thing if you care about the previous question what Larry Larry Sinclair think there's all these things back like there's all these things to appease the last and guess what it's never enough they'll take more than take more they'll think more you'll always be a villain well what happened Seattle was in my view was the police allowed this takeover of this neighborhood allowed the takeover of their precinct and for that they're gonna get nothing and eventually they're gonna have to extract those big band you know sometimes you gotta be diplomatic but there are other times you have to stand your ground and of course yes you know there are other places not talking about duplicating exactly what Seattle's done you know it's hard for the good guys to think that when I know that the question is meant to make a point I think he makes a point pretty well the text you want to know if you agree with president trump that we need new Supreme Court justices and religious freedoms are gone and done well of course I said you know I do I agree with president trump we needn't spring court justices yes but let's remember that Neil Gorsuch it was his first nominee to the Supreme Court and Gorsuch not only did he make it awful awful decision in in re write a very poor excuse for it it was inconsistent with other decisions he's made effect inconsistent with similar decisions he made when he was on the on the appellate court says it was the hardest thing I've ever seems like a guy that woke up one day and he had a different brain and he went to bed with and.

Black Rock
"black rock" Discussed on KNBR The Sports Leader

KNBR The Sports Leader

01:51 min | 6 months ago

"black rock" Discussed on KNBR The Sports Leader

"Black Rock Creek Snapple apple close since one fifteen left to go in the game a minute fifteen forty Niners down by three if they don't complete that pass at best it's a field goal tied the game see if you could move it over time who knows what's gonna happen so that's one to remember then flash forward a handful of weeks later the forty Niners are struggling against the Arizona Cardinals at all this is on November seventeenth they just they they they came out of the gate sloppy and slow and Arizona built a big lead forty Niners tried to pick pick pick their way back into the game however very late in the game they still trailed in fact this happened with thirty one seconds left on the shot gun it generally junior Santa he runs all right feels great baby but with thirty seconds left the forty Niners were trailing what happens if Jeff Wilson who caught up all caught up on his back right shoulder what if he doesn't grab it what happens there I don't need to go into anything long about December eighth there at New Orleans it's an epic epic game and they're facing a fourth down before this play the most memorable player of the year hello those are.

Arizona Cardinals Arizona Niners Jeff Wilson New Orleans
Europe Day Hikes

Travel with Rick Steves

03:28 min | 6 months ago

Europe Day Hikes

"Cassandra. Researches writes guidebook explore Europe on foot? She Recommends Cultural Adventures on Long N. short-distance trails across Europe. That also get you beyond the crowds at many prime destinations. He cassandra. Thanks so much for having me. I know from my own experience because I'm running around Europe and a car lot. You stop at a turnout and you enjoy the view but it just walk even a couple of hundred yards. It's a whole different world. You forget about the road. And you're immersed in the wonders of Europe. Of course you can stop your car and seat. Let's say the west coast of Ireland. The cliffs of more most dramatic cliff. Stop anywhere that I can imagine and people a few hundred yards in either direction. But you've got a ten mile walk you've talked about here on the clips of more this walk on. The cliffs of more is a really great way to get away from those crowds to see a little more of the stunning coastline. And this is the far west of Ireland which far west of Europe where the people gays out of this our next perish over his Boston right. I mean the land quite stunningly just drops off into the ocean in fact before they put a barrier there. I would inch out on my belly and I would literally look over that black rock plummets. A couple of hundred yards right down into the sea. And you're sitting there like a Human Suction Cup worrying about a Freak Gust of wind blowing. But you gotta be there. You're you're looking at the backs of the birds as they fly below you in. You're you're looking at the SURF. Crashing below you and that ledge goes for miles and miles and now there are trails there that are safe and designed for people to enjoy that scene. Yes and actually. It's a really great way to beat the traffic. The car traffic. That's at the cliffs of more also. Because those parking lots really fill up. You can actually start with your walk in the town. Just north of cliffs more and then walk to cliffs of more through that area and farther south one town south. You get to see some really amazing ruins that most people don't ever notice and then you can even take hiking shuttle back to your first towns so there'd be a bus that would take you back. Yes in book you talk about. Some hikes are there in back and other ones are loops and also in your book. You talk about. It's important to be able to abbreviate your trip. If you choose well you know. Sometimes you fall in love with a hike. That's a little too long. Maybe you just don't WanNa do you know ten miles in a day. Maybe you'd like to do only five miles whether that's because you just don't have an interest in walking that long or because you wanNA shorten for other travel plans in Europe. It's really easy to shorten hikes because there are things like cable. Cars Post buses shuttles all sorts of ways buses. Exactly these tour buses. I know that along clips have more so you could go from that first town to the actual famous clips where all the tourists are and then intend to have gone to the next town but decided when you get there you know that's enough. Let's have lunch here and we'll take the bus backtra starting and also I think a lot of people don't realize how easy it to get to the trail heads right and that's because you know if you walk a lot in the United States you realize trail heads are in wilderness and you need a car to get there and that's pretty tough when you're traveling but in Europe trail heads are actually in small towns and those small towns are serviced by amazing public transportation. Trains funicular buses. That makes it incredibly easy. If you're not traveling by car even to get to hike even a day hike by train do it and then make your way back to your original point because here in Seattle. If I'm going to take a hike up in the cascades I needed drive there to that but all of the hikes that you're talking about are accessible from a town which has a train station or nearly all of them.

Europe Ireland Cassandra Cassandra. Researches Seattle United States Surf Boston
Coronavirus prompts cancellation of Burning Man festival in Nevada, event will be 'virtual,' organizers say

KCBS Radio Weekend News

04:36 min | 7 months ago

Coronavirus prompts cancellation of Burning Man festival in Nevada, event will be 'virtual,' organizers say

"Two officials of the burning man festival have announced the August event has been canceled and will go completely virtual as coronavirus cases in Nevada surged past one hundred as of this morning and joining us with more on the KCBS ring central news line as Marian Goodell CEO of the burning man organization what hall we appreciate your time this afternoon I know this is going to be an extremely tough decision when did you know you were going to have to pull the plug well you know that there's a there is a tricky question with her equally tricky answer the way we've been talking about it internally that wasn't quite in the press release is that we really had what we call two torpedoes heading towards burning man and one of them is our on going challenges with the bureau of land management because we're on department interior lands and those challenges in the last couple of weeks we're getting worse at the same time the issues of the pandemic with coded nineteen were also rising and we kind of felt like if it wasn't gonna be one torpedo it was gonna be at the other and we didn't really want to wait it out we had been given some you know indication we should wait it out because we are at the end of August but it just didn't make a lot of sense as we saw that they were to add challenges coming out of tell us a little bit more about the other challenges with land management what were those the they're all related to costs and we've been kind of nickel and dime the last couple years one of most recently was the way in which they charge subcontractors that help support our city so the way we bring in electricity we bring in medical they wanted to charge an additional fee after they already charge us a fee that was gonna probably cost us because those costs will get passed on to us that's probably a three hundred thousand dollar cost but two days ago they told us that the way in which we do our tickets with them and with the car the reduction in our ticket sales maybe to the to the two million dollars wow and they told us we could apply for a variance but that they didn't have time to process the application this year there we go look at all the writing on the wall and just felt like we we need to go need to cause all the problems of the B. L. M. in order to come back in twenty twenty one and coated you know there's so much uncertainty that the surge it was the right decision those tickets what's going to happen to them that they've been sold already well we are offering a refund add to those that really need it but the organization is really dependent upon ticket sales are we do have to philanthropy but the number one source of income for us so in order for me to have a team of people that are going to be able to come back again and told her to each event for twenty twenty one am I need to keep as many of our staff around it's possible that we will go through some layoffs but I'm really hoping for the generosity of the burning a community to actually donate or take it back to us so E. are moving forward but in a different direction you're going virtual what what does that mean well you know of course we're all sort of stuck at home and there's a lot of activity happening on the internet and it's showing up in different ways of course people are doing dance parties and cocktail parties burning man is known for really being a place to inspire people about how to how to do things and do them differently one group right now they're doing a lot of activity is our burners without borders group and they they're helping activate communities where we want it we would have create online options for people to actually do it more in real time and so we're looking at doing a virtual Black Rock city maybe in August maybe sooner but along the way we want to do weekly opportunities for people to learn learn from artists learn how to build our cars learn how to be built to guard learn how to build community the sorts of burning man really is the people and we don't think virtual is a replacement for being there in person but we really want to give up people place to come to and connect right now was there ever any thought of moving this to a later date in the year may be pushing it back to October we took a little look at that but dozers miglior with burning an experience know that right after Labor Day get super cold and then the rains do start towards the end of September and then like I said the BLM issue is still real so we kind of felt like if it wasn't one issue is the other and you know read we needed to call it all right merry appreciate your time and thanks for a spending a few minutes with us keep in touch let us know how things progress Marian Goodell CEO of burning man organization again they announced today that festival has been canceled for

Nevada
2020 Burning Man Canceled, Virtual Black Rock City Staged Instead

KNX Weekend News and Traffic

00:34 sec | 7 months ago

2020 Burning Man Canceled, Virtual Black Rock City Staged Instead

"Burning man the latest big event to be affected by the corona virus it will not be held at Black Rock city in the vada desert over public health and safety concerns Marian Goodell the CEO for burning man says the event will be held virtually instead if you have a ticket now you have a ticket to virtual blackrock city in the multiverse and if you don't yet we will make that opportunity available for you within the coming weeks Adele says that they expect this to be a tough year because much of the nonprofit's finances come from ticket sales each year but they hope to bring the event back as normal in twenty

Vada Desert Marian Goodell CEO Adele Black Rock Blackrock
Dow futures point to an opening loss of 600 points after Tuesday's surge

Ron St. Pierre

00:34 sec | 8 months ago

Dow futures point to an opening loss of 600 points after Tuesday's surge

"Dow futures down more than four hundred points investors were optimistic about such measures yesterday and we saw stocks rising about five percent Wall Street investors are proposing a variety of ways to help ease the economic pain brought on by the corona virus outbreak one JP Morgan strategist says corporate stimulus in support for workers could shorten the duration of the economic fallout a U. B. S. officer says public health officials should put emergency funding toward vaccine development and at Black Rock an executive recommends it generous sick pay and enhanced government welfare

Officer Black Rock Jp Morgan Executive
Fans loved Jennifer Lopez's Super Bowl halftime show

KYW 24 Hour News

00:48 sec | 9 months ago

Fans loved Jennifer Lopez's Super Bowl halftime show

"Sexy costumes hot dance moves then bit of politics thrown in the Bronx is owned performed at halftime of Super Bowl fifty four still still from this blog twenty two hundred block of Black Rock Avenue here in the Bronx Jovi on a low of J. lo's halftime concert I thought the performance was some fantastic I think they both did a good job they made a political statement so she made her a Dennis Smith also like the feather coat with the US flag on one side the Porto Rican flag on the other you know she's she's beautiful right I did like it was good but on every block even this block there's always one Carlos Chicago about three hours that made the user I. al Jones dungeon loads blocks in the Bronx

Bronx J. Lo Dennis Smith Carlos Chicago United States Al Jones
Microsoft taking a $1 billion shot at climate change

Marketplace with Kai Ryssdal

07:59 min | 9 months ago

Microsoft taking a $1 billion shot at climate change

"We begin today with the state of the planet which is also the Corporate Zeitgeist of the moment. The fancy executive Shindig in the Swiss Alps known as Davos us is underway today and for the first time a survey of participants in the World Economic Forum Davos official title ranked Climate Change as. Is there top set of business concerns also last week Larry thanks. CEO of BLACKROCK. The world's largest asset manager told business leaders that the company would prioritize more sustainable ainable investing and then on Thursday Microsoft announced plans to become carbon negative by the year twenty thirty and is investing a billion dollars in carbon removing technologies. Microsoft said. It hopes that by twenty fifty it could remove as much carbon as it has generated in its entire forty four year history. Sorry Lucas Joba is the chief environmental officer at Microsoft. And he's here to talk about this plan. Lucas thanks for joining me. Thanks for having me on my. You've pledged to invest invest a billion dollars and also to sort of pivot efforts in the direction of removing carbon and technologies. That can create resilience to end sustainability. But also so literally remove carbon and I wonder what some of those technologies are. Have you identified investment opportunities already. Well I think first and foremost evolution is already already provided some of the most powerful removal technologies of all through processes like photosynthesis. So some of the work that will be investing in. We'll be in what's called nature based solutions through forestation reforestation soil carbon sequestration. But also we'll be looking at Negative emission technologies like direct air or capture carbon capture and storage bioenergy. And what we're really motivated to do is to ensure that the capital that we put out is as additional well as possible is it a venture fund like are you expecting to get financial returns in addition to technology that you can use. We don't expect to. That is not a requirement of the fund. We would never turn that down. I'm sure but we also don't expect to lose money. How do we know so how? Many companies are announcing sustainability initiatives than carbon-neutral initiatives. And it's getting hard to Parse who is doing what you know like. How do we know L. either in the business community or as consumers that? This isn't greenwashing. Well I think it requires diligence on the side of Stakeholders to actually spend a little time. You know understanding what companies are actually doing. I think it also requires a lot of work on the side of corporations to be as transparent and as literal as possible. So there's a reason that we're using the term carbon negative because we are saying is we are going to go below net zero on our overall carbon emissions and we can provide an accounting the thing for that we can provide transparency into the portfolio of payments that were making to remove carbon. I think the best we can do is just to be clear eyed and cold. Aw hearted accountants about this and hold up. Our balance sheets is worth of carbon to be inspected. Let's also talk about incentives. Is this becoming a move like this on some level for every business you know we've seen institutional investors blackrock say. It's going to require. Companies Staff Sustainability Stain ability plans jet blue is going carbon neutral inciting flight shaming as part of the reason. I wonder if some of this is becoming a business. Imperative imperative whether it's to get ahead of regulation or even public sentiment. Oh absolutely I think it's surprising That that businesses can operate today without meaningful incredible sustainability plans. And I do not think there is a significant future. Sure where were businesses will be able to succeed without having plans and being able to show meaningful progress. I think the black rock letter was. It was a nice example. But that's just one of an incredible number of market signals that are being sent from both consumers customers regulators employees more in the blog. Post announcing this you said climate needs to become the world's next moonshot the tech industry. That's a phrase that has bounced around the tech industry but also it's an an industry that has promised to solve big problems should the rest of the industry following this example. I think the rest of the industry needs to do what everybody he needs to do. which is to look at climate and sustainability as what is which is the largest issue the largest most complex challenge that our species has ever faced? If you're a technology company I believe that you should be bringing technology solutions to the market. That does not mean that technology solutions are the silver bullet. It just means that whatever you as an organization are good at. That's what you need to be bringing. And and the urgency has has never been greater and then how about hiring in your blog post you cite not just consumer demand but also employees demand and has this also away. Does this have the added benefit of helping you attract and retain talent for whom this isn't big concern. Most definitely I mean when you look at any poll. In the demographic traffic that will be entering the workforce you know today in the next five to ten years moving forward. This is the number one issue they care about. If you're a technology company like Microsoft is then you're probably motivated by solving big problems with scalable solutions and and if that's your Mo then you've got to have climate and sustainability squarely within your focus and your employees. The more that you do that the more and the better the employee employee base that you're going to be able to bring in. It's just going to be an expectation and rightfully so and then finally just from a business perspective. Oh you know we've seen Microsoft employees already sort of asked the company not to do business to help. Let's say improve. The efficiency of oil and gas companies Microsoft has a seven year deal with Chevron Iran. Is there some possibility that you know the aggressiveness in this arena will make for some awkward dance partners. I don't know about awkward. I think think that these are conversations that need to be had and we are committing as part of our overall announcement to include conversations about an partnerships on sustainability and carbon reduction removal with all of our enterprise customers and major suppliers market sector independent. I think that if you take a scientific or a scientist's view of the problem you leave a lot of the passion and politics politics out of it and you just focus on the job that needs to get done and if you believe Lake we do that. This problem is one. That's going to require solutions. Sion's from everybody from every organization than it would seem strange to be turning your back on any particular Sector or or customer That said you know of course these. These conversations aren't always easy aren't always straightforward. But I think that that is long as you. Just focus on the problem at hand that needs to be solved we. We've always appreciated the partnership model at Microsoft and I don't see that Changing going forward with with any of our of our existing or future customers. Lucas Topa is chief environmental officer at Microsoft. Thanks so much for talking with me. Thank thank you molly. You can hear more about how technology can help us deal with climate change in our series how we survive that's online at marketplace dot org

Microsoft Davos Officer Blackrock Lucas Joba Swiss Alps Larry CEO Lucas Executive Lucas Topa Official Sion
Worlds Largest Investment Firm To Put Sustainability at Heart of Its Investment Strategy

Business Wars Daily

03:26 min | 9 months ago

Worlds Largest Investment Firm To Put Sustainability at Heart of Its Investment Strategy

"Brom wondering I'm David Brown and this is business wars daily on this Monday January twentieth. You may have today off Martin Luther King King Day which is as good a time as any to contemplate the latest sea change in American business last week. The world's largest investment firm announced that it will now put sustainability at the center of its Investment Strategy Company. Called Black Rock also told clients that it will divest five hundred million dollars worth of shares in companies that produce. What's called thermal all cold? The kind of cold use to make electricity blackrock CEO. Larry Fink made the announcement in his yearly letter to chief executives of the world's largest companies writing quote climate it changes almost invariably the top issue that clients around the world raise with blackrock. Think also detail. The ways in which current estimates of business risk fail to account for economic onomic impacts of climate change and noted that the markets have been slow to accept these growing risks but he added quote awareness is rapidly changing and I believe we are on the edge of a fundamental reshaping of finance thinks yearly letter helped set the stage for the way business is done globally. That's because black rock managers about seven trillion trillion dollars worth of investments and its influence is everywhere that is in nearly every company and in the retirement accounts of millions of people but the new strategy doesn't simply revamped black rocks current way of doing business if the firm executes thoroughly it will be a fundamental overhaul in his words thinks as black rock will exit investments moments that pose a high sustainability related risk such as coal black rock also been tends to pressure companies to be transparent about their climate related risks and their sustainability sustainability plans. BLACKROCK will also double the number of its funds from seventy five to one hundred fifty that address environmental social and governance challenges if all that sounds suspiciously altruistic for an investment firm. Just take a look at the numbers. Think says his rationale for the shift is starkly financial simply put. Climate risk is investment risk. The Wall Street Journal reports that interest in sustainable surged in two thousand nineteen and said black. Rock wants to grow its assets in sustainable funds to a trillion dollars up from ninety billion dollars today. In part to attract more millennials investors. Besides black rock didn't make these choices on its own activists. Vists have long accused the company of having singularly poor record on the environment and pressured the firm to change its ways in November activists protested at black rocks. London offices offices dumping ashes there to call attention to fires in the Amazon. The accused the company of having a hand in causing those fires by investing in firms responsible for deforestation station according to CBS News while thinks letter takes a stand against coal. It does not promise to exit the fossil fuel business which accounts for a much larger proportion of black rocks assets. According to the Guardian. It is one of the top three investors in big oil. With last week's announcement black rock becomes the first of four

Rock Blackrock Larry Fink Martin Luther King Brom Guardian CEO David Brown Cbs News London The Wall Street Journal Amazon
World's largest investor to sell $500 million in coal investments

Here & Now

00:20 sec | 10 months ago

World's largest investor to sell $500 million in coal investments

"The world's largest asset manager says climate change will from now on be a major factor in how it invests black rocks founder and CEO says the company's immediately dropping investments in coal power and will start asking clients to disclose their climate related risks the company manages about seven trillion

World's largest investor to sell $500 million in coal investments

Here & Now

00:20 sec | 10 months ago

World's largest investor to sell $500 million in coal investments

"The world's largest asset manager says climate change will from now on be a major factor in how it invests black rocks founder and CEO says the company's immediately dropping investments in coal power and will start asking clients to disclose their climate related risks the company manages about seven trillion

Founder And Ceo
Burning Man alleges U.S. government rip-off, sues to get back millions

AP 24 Hour News

00:59 sec | 10 months ago

Burning Man alleges U.S. government rip-off, sues to get back millions

"Burning man organizer's are suing the U. S. bureau of land management for millions of dollars they say the government is over charge them in fees over the past seven years Black Rock city LLC the nonprofit that produces the annual burning man event in the Nevada desert pulled out Reno Gazette journal they've waited for over four years for the bureau to provide justification for the nearly three million dollars it charges annually for a permit to hold the eighty thousand person event in the Black Rock desert about one hundred miles north of Reno and they say they're tired of waiting bureau of land management officials didn't immediately respond to a request for comment from the Associated Press Black Rock city has been required to reimburse the BLM for cost to provide law enforcement and oversight at the event the group also has to pay a three percent gross receipts fee or a portion of its revenue that's a lot of money because in twenty eighteen organizer said they made nearly forty four million dollars from the event

Black Rock City Llc Reno BLM Nevada Reno Gazette Black Rock Associated Press
Burning through cash! Burning Man organizers sue over millions in US permit fees

10 10 WINS 24 Hour News

00:35 sec | 10 months ago

Burning through cash! Burning Man organizers sue over millions in US permit fees

"Organizes a burning man have a new problem you complain to deal with here the bureau of land management charges the organizers of burning man three million dollars for a permit to stage the the counter counter culture culture festival festival into into that that as as Black Black Rock Rock desert desert those those behind behind burning burning man man said said the the cost cost is is excessive excessive and and unjustified unjustified and and they're they're suing suing to to get get back back some some of of their their money money the the event event which which draws draws over over eighty eighty thousand people a year said the bureau of land management has imposed inflated and unnecessary costs without adequate justification threatening the continued viability of the burning man event there was no immediate response from the government Erin to Turkey reporting this years burning man set for Sunday August

Erin Bureau Of Land Management
Earthquake swarm raises concerns for big eruption in Iceland

Throughline

04:13 min | 1 year ago

Earthquake swarm raises concerns for big eruption in Iceland

"If you've watched game of thrones than you probably of a sense of what Iceland looks like s an incredible place so you've got mountains scarfs and rolling landscapes and every once in a while you've got a little bit of grass or Moss on top of. Thanks thanks very. Game of thrones right so a lot of game of thrones was film there forbidding desolate and gorgeous all at the same time It's barren it's black. It's volcanic I mean. This entire island has been built up by volcanic eruptions year after year for the last last twenty to twenty five million years so the whole landscape everything you're looking at what has been built by black rock that came out from the heart of the earth Iceland sits in the North Atlantic right on top of the fault line on the ocean floor that divide the North American and Eurasian plates and as the two plates drift opposite directions. Iceland is in effect slowly being split apart making the country a geothermal hot spot where earthquakes and volcanoes are just just a fact of life. So icelanders were really used to volcanoes going off on average. There's an eruption on the island at once. Every five years you grew walk with his and I by eight fifteen had seen three volcanic eruptions. This volcanologist Thor Thordarson I. I didn't even know that that profession existed when us all these options. Now it might sound alarming depth. Aquino's are going off so frequent but both of these eruptions aren't too big or destructive no absolutely most ruptures and actually fairly small and sort of what we call tourist friendly All this volcanic activity has earned Iceland. The nickname the land of fire and ice thought has spent the last thirty six years studying one volcano. Oh Qena Lock. It's taught in elementary school history classes as greatest disaster that Icelanders face but but it turns out there wasn't much actual scientific research on lot so door had a lot of work to do. And you can map these things out. You can look at the architecture. Architecture of these like the love of flow he collected ash and lava samples analyzed their chemical makeup reconstructed the route of the lava flow. And how far the Asheville. So it's a bit of a detective work and he began his investigation at ground. Zero the site of the eruption that typical volcano you might have in mind is probably a towering cone shaped mountain with a big bowl full of bubbling lava in the middle long steep slopes on either side losing with flowing molten rock. Imagine like you're baking soda and Vinegar Volcano in like middle school or whatever but Lachie doesn't look like like that absolutely not lackey doesn't look anything like that. If you climb Mount Lucky like we did you look in both directions you see these. ooh volcanic vents going off to the horizon. Both directions lucky is really just a twenty-seven kilometer-long crack Damn mm-hmm a sixteen mile cracking. The ground might not seem that imposing. But don't let that fool you into thinking it's less powerful. Some ways might contain more more coat see the reason for cone shape. All KAYLA's is because you have magma coming up through one conduct over and over the lucky on the other hand does it have just one conduit one release point for the lava and ash it. It has many over the twenty seven kilometers. We have about one hundred and forty five combs which line the longest crack all those offense run deep into the earth connecting to a chamber of Magma Molten rock that like a pressure cooker is waiting to blow. This this is the hidden life force of Laki which couldn't stay hidden forever.

Iceland Vinegar Volcano Mount Lucky Asheville Laki North Atlantic Aquino Lackey Lachie Twenty Five Million Years Twenty Seven Kilometers Twenty-Seven Kilometer Thirty Six Years Five Years
JP Morgan Chase posts record revenue above Wall Street expectations

Bloomberg Surveillance

01:58 min | 1 year ago

JP Morgan Chase posts record revenue above Wall Street expectations

"It is a banking moment in David like I I I think I want to editorialize and say I've never seen before it is about four just diamond isn't it it sure is I mean you look at the today's results you see for the biggest banks out with third quarter figures and JP Morgan is the only one who shares rose in response to their reports shares are up to percent in early trading bond trading revenue at JP Morgan jumped twenty five percent and investment banking fees rose unexpectedly put that all together and JP Morgan's revenue beat analysts' average estimate in a Bloomberg survey by the most in more than four years earnings also surpassed projections contrast that with city group down three quarters of a percent third quarter earnings did beat the average estimate but by the narrowest margin in six quarters and revenue came up short even with a two hundred fifty million dollar gain from selling an asset management unit in Mexico wells Fargo's down more than one percent no revenue at the bank topped estimates for the second straight quarter trouble is earnings miss projections for the seventh time in eight quarters and then there's Goldman Sachs down two percent last quarter's profits trail estimates for the first time in two and a half years the results included a two hundred sixty seven million dollar markdown on holdings and ride hailing service over technologies another company did you see the the check the Goldman Sachs right off the unicorn right of Jennifer ahead that two hundred some million dollar yeah exactly right down the they should listen to David Wilson well I can tell you Goldman's investment banking revenue fell fifteen percent which didn't help matters either you look elsewhere and finance though when you see some gains blacks rocks UP two percent the money managers profit and revenue for the third quarter beat estimates and Charles Schwab's up two and a half percent the discount brokers earnings and revenue last quarter topped

Jp Morgan Goldman Sachs Jennifer David Wilson Charles Schwab Bloomberg Mexico Wells Fargo Two Percent Two Hundred Sixty Seven Millio Two Hundred Fifty Million Doll Twenty Five Percent Fifteen Percent Eight Quarters Million Dollar Three Quarters Six Quarters One Percent Four Years
‘Shut Down DC’ climate protesters return to D.C. streets this morning

Armstrong and Getty

00:26 sec | 1 year ago

‘Shut Down DC’ climate protesters return to D.C. streets this morning

"Demonstrators are back at it in Washington DC change protesters hit the streets again in the nation's capital this morning as they did earlier this week but the strategy a bit different this time instead of locking several key intersections as they did on Monday morning demonstrators are marching past the offices in the headquarters of what they call climate criminals dining walls Fargo Black Rock the trump hotel and the environmental protection

Washington
Pitfalls to Avoid for the ROI of AI

Artificial Intelligence in Industry

11:50 min | 1 year ago

Pitfalls to Avoid for the ROI of AI

"This is Dan a Angela. You're listening to a in industry. Last week. We heard from Song Car Iranian chief practice officer of Fratelli analytics. This is a Unicorn Company. A giant firm focused on a consulting analytics consulting with large organizations this week we speak with someone with a similar background ground but at a much smaller firm Dr Charles Martin runs a company called calculation insulting Dr Charles is a bit of a mentor of mine when it comes to a knowledge even speaking to him about our business here at emerged for three plus years and Charles joins us in this month's theme on the Roi of Artificial Intelligence Charles Cassini inside of big companies like black rock on enlarge media firms in you name it in a number of different machine learning oriented projects for ten years running and Charles speaks for this this week about the particular pitfalls to getting to our lied he speaks at length about some of the cultural elements within enterprises that make it so hard to focus on the aspects of ai that are ultimately going to lead us to seeing the return Charles is quite a character and we go off in all kinds of different directions. His brain gene works in in funky ways and so we go off on one tangent run off into another tangent. That's just Kinda how my conversation with Charles so be a little bit prepared for that but it's an awfully awfully fun episode and if you're tuned in an listening closely you'll pick up on some very important. kind of cultural trends that you'll need to be ready for the fact of the matter. Is this if you are prepared for the cultural hurdles for some of the team collaboration challenges that are inevitable bringing. Ai To life in the enterprise you are going going to have a better chance of getting our y point blank period and Charles articulates them at length and with color in this episode here on a industry so without further ado you. Let's hop right in so Charles I wanted to kick off with cer- thinking about the factors mean to consider before pulling the trigger on a I project before diving into an initiative the what should business leadership which the project team do well ahead of time to give themselves the best chance of seeing a return on a project. What would you kind of nutshell there you know I I think I would give the same advice that we get in a startup is that you need to figure out how you can test your assumptions functions as quickly as possible and to pivot is quickly as possible to be able to run different kinds of experiments to figure out? What's really going to work yet so it let me think about that? Maybe out loud here with you Charles in other words when we're kicking off an issue. It's not just okay. This is the goal that we're shooting for. It's this is the goal. Here's how we think we're GONNA get there. Does this involve a little bit of Plan B. Plan C. A number of different hypotheses. We could run with kind of having all of that on decks that that if we need to change direction we can do it in real time or what does that look like in Let me give you the alternative y'all is that you go out and you have some idea that some data's going to be useful and so you spend half a million dollars buying this data and then you spend six months trying to get your data the infrastructure in place and at the end of all this you find out that the data was useless and someone comes the data scientists and go well. Why doesn't this work and they just kind of looked at you puzzle go? Why would you think it would work you you? There's been no actual vetting of the actual project other than some sort of soft feeling that you have that this should work and I think that's the hardest part is that it's sort of the story of the Edsel you know that people went out thought they are and what you have is a lot of edsels. You're not getting in front of customers or in front of users. It's getting inside your own infrastructure and figuring out what you have ch- and it's a lot easier and a lot more enticing ver- ingineers especially. It people to want to build things than to want to solve problems so they will spend an enormous amount of time time building infrastructure setting up databases doing compliance all sorts of things everything that's safe because they already know how to do it and you're just just building something and you know how to scope but you know how to budget and you know how to staff for it and then when you get to the A. I. Part you're like well. We have all the infrastructure in place then you find lied out well. You didn't really think about what you had and it turns out that maybe maybe he didn't really look carefully at your data data and it turns out your data's of mass and it takes you months of just figuring out what's in your data or or maybe it turns out the idea you had just as fundamentally only not viable. We've we've had many projects like this. Someone comes to us and they want to do a project and we look at the data and they're just like we're you know you're just going to build features and build a model built features. There's and build a model we look at the data we go. This is not a viable idea and if you look at it you could see immediately that this isn't GonNa fly and I think that's the hardest part and so you need to figure out how to design a process within your organization where you can avoid all of the process that you already have house. You can start running experiments here. Here's another another good problem another issue that comes up a lot of organizations especially. It organizations are designed around automation automation compliance governance. They want things to run into end automatically and so you start working on a project and you've got an idea of you built a modern you and you might take you like a week to build a model. Maybe it's not that complicated model as it takes six months to get this thing into production why well because you're inside the. It department is insisting that the entire product be run into end within your it infrastructure well I he's he's been around for twenty years and so the infrastructure is quite mature and Y- There's compliance issues around the data and you have to have automated build systems and automated deploy systems and it turns out that it turns that you're not really set up to do that yet. You're automated. Systems are not designed nice to roll out this new product and so it's kind of like saying the analogy matching of a factory in the factory. Make some kind of widget and you WanNa make something new. You know you WANNA make some new toy your toy company toy but you don't really know if the children are going to like it you gotta figure out how could you make a hundred little toys Oy. Give him out to your customers and tested before you spend six months retrofitting your factory and the same thing problem and it I- shops the problem is that the it world wants delivery but data science is not about delivery. It's about discovery discovery. Okay another this okay you might if we poke into this Charles Life. That's more than a lot to unravel here. I know the audience is GonNa want to catch up with so yes yeah so the delivery versus discovery is a very interesting dynamic. It's a that's a nice nutshell. You know it's sort of like you have emphasized the. Ai Is not it deal you know we have kind of the probabilistic versus the the more if then type of scenario this is another lens on it the delivery it versus discovery avary and I think one of the things that would be useful to unravel for the audience would be what are these assumptions. What are these assumptions that maybe people don't realize our assumption so the way that I see this when you're articulating Charleston I want to kind of make this into a couple of actionable bullets for for the folks tuned in would be as we're imagining our? Ai Project we're thinking through okay. I believe that this data trained in this kind of way with this kind of a model would be able to decrease are false positives or would be able to recommend commend better products that might improve our car value by X. percent or something like that whatever the case may be what we'd have to do is essentially look at what we're going to try and ask ourselves in a very harsh light here and preferably with data scientists in the room. I think a lot of these mistakes are made when it's just the C. Suite laying out how this is GonNa work we get data scientists in the room mm-hmm and we say which of these things that that we're GonNa think are going to happen here or completely hypotheses and maybe we're never going to have one hundred a percent of a proper guests on the upfront but can we maybe come up with a better set of hypotheses. Is there a better data set we could start with. We don't know it's going to work but maybe we could begin with a better hypothesis so is it. Is it worth sort of assessing here's what we want to roll out. Here's all the all the assumptions that underpin that whether we think their assumptions are not here's all the assumptions that underpin that data scientists scientists and business people to pick those apart and then say are any of these blatantly stupid or can any of these be tested in very small ways that we feel good about releasing these funds is this kind of what you're getting at is. Is there a better more high level way yeah go ahead kind of but the here's the problem with that we've had projects go into a company and we have a very very simple product. We want to produce something you want to improve the accuracy wouldn't build some classify or some predictor as look you gotta give me your data and you gotTa give me two weeks seeks minimum to just look at the data and what happens is they come in and the first thing they want to do is have this hypothesis session but they're not hypotheses their conjectures because a hypothesis in the scientific method requires that you I have looked at some data we make hypothesis. This is based on things you've seen so it's not a hypothesis if you haven't actually looked at anything yet conjecture just wild speculation and what happens is you go into a planning meeting and people have all sorts of ideas of things it would like to try all we can do this so we can do that we could. It's like you know you're it's not they're not functional ideas because you haven't really thought about what the date is actually telling you and I think this is one of the hardest things to grasp and it's very hard because what happens in any organization is larger Oreo especially now because or now we're starting to see I A- carrying larger organizations tend to think about how people in large organizations thank you know when the manager or the or the or the business leader comes in and says something well. They're gonNA do whatever that person says irrespective of whether it's a good idea or not because they're trying to basically do their job and cover themselves so they're not going thank you and and and they're not gonNA think okay I need to go out and take some risk and I need to try to guess what we need to do anything to try to look at the date on prophesized something. They're gonNA be much more comfortable if someone tells them. Here's what I want you to do and you do it because they're going to be more secure in their jobs. It's just the nature of how how large organizations work many times you know when we've done. Ai Project that they think what's changed is that if you were to talk to me about a I even five years ago I would say well. This is mostly being done within the innovation groups of a company but now what we're finding is you know you carve out some piece of the company which is isolated needed from all the other processes and by carving that out you're not burdened by the processes or the management structure but now we're starting to see I happened inside of companies just inside the company. Everyone wants to be. I every company is trying to be an I look it's all Google and facebook talk about as ai yes.

Dr Charles Dr Charles Martin Charles I Charles Cassini Unicorn Company Officer DAN Fratelli Analytics Charles Life AI Google C. Suite Facebook Avary Six Months Million Dollars Twenty Years
Google, Internal Revenue Service And CFA discussed on Mark Levin

Mark Levin

02:30 min | 1 year ago

Google, Internal Revenue Service And CFA discussed on Mark Levin

"Liberal watchdog group the targeted Google and Devin newness fusion GPS one hundred and forty thousand dollars for research this one I just saw this is a big deal excuse me a liberal watchdog group that is investigated the trump administration Republican lawmakers like California Republican Devin newness and Google paid fusion GPS nearly one hundred and forty thousand dollars last year according to tax documents filed with the Internal Revenue Service the payment by the campaign for accountability short another front group the campaign for accountability was for research on an unknown project we know about fusion GPS now this group CFA was formed in twenty fifteen by several former employees the responsibility of ethics in government in Washington called crew another left wing watchdog group that group describes itself as a and when nonpartisan nonprofit watchdog organization that uses research litigation and aggressive communications to expose misconduct and malfeasance of public office now this group see a face one hundred forty thousand payment to fusion GPS for what was for work as an independent contractor according to see a face form nine ninety that is their tax return the document does not reveal the date of the payment and see if phase donors are not disclosed see if a file numerous ethics complaint to lawsuits last year by publishing reports criticizing Google and Black Rock the largest investment firm in the U. S. now see if it's too and it goes on and on and on but what's the point they've targeted among others Devin newness in their link diffusion GPS now that's obviously import now why is that important only Jim Comey wouldn't know that Joe Scarborough because now fusion GPS has some links some kind of role in trying to take out Devin newness that's how I see it how do you say Mr producer I think Mr producers eating a steak sandwich I don't think he's listening

Google Internal Revenue Service CFA Washington Jim Comey Joe Scarborough Producer Devin California Forty Thousand Dollars
Former Vice President Al Gore talks climate change solutions in the Twin Cities

Climate Cast

10:37 min | 1 year ago

Former Vice President Al Gore talks climate change solutions in the Twin Cities

"Former Vice President Al Gore comes to Minnesota. I'm N._P._R.. Chief meteorologist Paul Hutton here. This is climate gas. He's arguably the most important historical figure in expanding climate change awareness in America <hes> and the world his two thousand six film an inconvenient truth introduce climate change science and solutions to millions. His work earned the Nobel Peace Prize this weekend former Vice President Al Gore is here in Minnesota training twelve hundred climate activists through his climate reality project. He sat down with me at the event in Minneapolis Mr Gore thanks for taking the time to talk with us on climate cast today and hey welcome to Minnesota. It's great to be back. You know you're here in the the twin cities this weekend for this climate reality project training event. Why did you start climate reality and what does this accomplish well because I came to the conclusion Susan that the only way we can change policies in time to solve the climate crisis is with grassroots pressure from every state in our country from every county and so I decided when my first movie came out I used one hundred percent of the profits from that movie and the book to <hes> to set up the climate reality project and to mobilize Aisa thousands of people tens of thousands of people to put pressure on their elected representatives and business leaders and civic leaders and community leaders nice to to make the changes that we need to make let's go back thirty one years ago this Summer Nastase Dr James Hansen testifies before your your committee in Congress and he says there's a ninety nine percent degree of confidence for a cause and effect relationship between the greenhouse effect and observed warming? How important was that testimony in your path to climate change awareness well? I think that was an important moment. <hes> in making lots of people realize is that this is for real and we need to do something about it unfortunately in the wake of that hearing and the others that I and other members of Congress Health <hes> the fossil fuel <hes> industries took the playbook prepared by the tobacco companies companies back when the doctors and scientists say hey folks <hes> smoking cigarettes causing lung cancer or disease and they hired actors dressed up as doctors and put him on T._V.. To falsely tell people that there was no health problem at all well that same blueprints what's been used by the fossil fuel companies with the point of bring that up is in a healthy democracy where the truth was turned into power testimony like that of Jim Hansen you asked about would have led to dramatic policy changes reason it hasn't is because of the political influence of the coal companies the oil companies in the gas companies but we're gaining on them and these grassroots activists including an impressive number of them here in Minnesota are really making progress ars you talk about policy. You came within a whisker of the presidency in President Gore I like to think it would have been completely and totally different of course in our country. A president has to persuade the Congress Congress and asked to be a skillful politician and getting support for his or her initiatives but I like to think I would have been able to to put in completely different policies that would help to avoid some of this <hes> heartache and hardship and I still think we can do that. We've lost some ground for sure. Some damage has been made inevitable now unfortunately but we still have time to avoid the most catastrophic consequences so rather than looking back and crying over spilt milk as they say. I look forward and try to figure out what I can do to serve in different way. Just watch you give what we might. Call the talk talk at this climate reality event not that dissimilar from the one you used in an inconvenient truth but how has your presentation changed in the thirteen years since the the movie is changed dramatically in a lot of ways because I can bring up examples of floods or droughts or storms or whatever whatever not from ten years ago but from yesterday or last week and literally every night on television news is like a nature ager. I threw the book of revelation and the examples that illustrate all of what the scientists have been warning us about are all around us now every single day. I think that does make an impression on people I know it. Does it makes an impression on me. Yeah I WANNA get your assessment of where we are with the big big picture on climate change today. We're seeing the positive side rapid progress on solutions like renewables Minnesota here. We generate twenty five percent of our electric power. You're from renewables as you know last year. That's way faster than people thought it would happen fifteen years ago. Public opinion is shifting. We know that a little bit and yet greenhouse gas emissions are still rising globally and this administration is basically a wall or going backwards on solution so what's the right urgency level here and what's your assessment of how this plays out for the next ten to twenty years the dramatic truth is that those of us who are alive today we have in our hands decisions to make that will have enormous consequences for thousand generations to come. Tom and that sounds overly dramatic but it's the case. We're putting one hundred ten million tonnes every day of this heat. Trapping pollution into the sky stays there for a thousand years on average and it's trapping so much extra heat <hes> the amount of extra heat energy every day is equal to five hundred thousand or Rocha uh-huh class atomic bombs exploding every day. That's crazy but that's what we're doing. Now what I think you're getting at in the first part of your question is how do we see this. They're contracting interesting trend some good some bad <hes>. We're gaining momentum for the solutions but we're not yet gaining on the crisis crisis because the crisis is still getting worse faster than we are mobilizing solutions yet because we're gaining momentum we may soon have within our capacity the ability to gain on the problem there was a famous economists in the last century name. Rudy Dornbush who once said things take longer to happen than you think they will but then they happen much faster than you thought they could. I think think that it's likely to be true. Where are solutions to this crisis. It's taken longer than many of us thought. It would hoped it would anyway but. But I think that we're now getting to the point where it could happen faster than anybody can imagine to take one example <hes> when the cost of electricity <hes> pity from solar and win gets not only cheaper than electricity from Cohen Gas but way cheaper then no matter how much political political power the fossil fuel companies have it would just take a complete idiot to continue spending way more money than necessary to create dirtier and expensive electricity when you can have it for much cheaper when cleaner air and more jobs and I think we're right in that region now where we're going to see see this flip over and more rapid change. I hope that I'm not pollyannish or overly optimistic but that's the pattern I see unfolding right now. Let's talk about about how that seems to be happening a little bit. I mean if you look at investors. The big insurance firms Swiss re Munich REC- this changing catastrophic loss model we saw P._G.. Any go bankrupt <hes> because of the fire liability in California right. I mean some saying that's the I fortune five hundred climate bankruptcy. How important is this growing investor risk awareness in driving that positive change you talk about Oh. I think it's extremely important there was a story this this morning about the largest private investor black rock losing many billions on fossil fuel investments and they're still the largest fossil fuel in bed. I'm not picking on my in respect them a lot but there so many investors who are taking a close look at the fact that these carbon assets <unk> are really not that different from the subprime mortgages of a few years ago you know there were seven and a half million subprime mortgages meaning mortgages that it looked as if they were triple. A. Rated assets with a value that was based on <hes> false assumptions when actually they were worthless because they'd been given out to people that couldn't make monthly payments and good make down payments and there was a mass delusion and people finally pull pull back the layers of the onion enough to see the truth of it and they suddenly collapsed and that's what caused the credit crisis and then the great recession well. We've now got twenty two trillion dollars worth of carbon assets the reserves of coal and oil and gas and the stocks and these as multinational companies that are based on the assumption that all that fossil fuels going to be burnt well it can't be burn won't be burned not just because of some mm treaty or some law but because solar and wind is going to be much cheaper and efficiency is reducing the demand for what they're selling an electric cars or a progressively destroying the market for liquid petroleum assets and it's only a matter of time before they wake up to this the largest sovereign wealth fund in the world the Norwegian Fund which got all his money from oil and gas. They're really smart. They just announced they're going to divest one hundred percent for from oil and gas assets a so those who are taking the time to read the handwriting on the wall are coming to the conclusion that they need to get with this change and move onto into renewables and the sustainability revolution.

Minnesota Vice President Al Gore President Trump Chief Meteorologist Fuel Industries Minneapolis Congress Paul Hutton Congress Congress Dr James Hansen America Mr Gore Congress Health Gore Cohen Gas
"black rock" Discussed on KCBS All News

KCBS All News

04:24 min | 1 year ago

"black rock" Discussed on KCBS All News

"And weather together on the aids on all news one oh six nine and A. M. seven forty KCBS KCBS used on seven twenty you go down to San Francisco south of market area you will notice it's become a Mecca for branding and logo is there are buildings featuring logos for the Lloyd Black Rock Trulia slack the list goes on find out more case CBS news anchor Rebecca corral speaking the San Francisco Chronicle urban design critic John king so that area grow so quickly become what you call brand babyliss conformance of things you have a lot of new buildings and and various things going up by a lot of big companies that want to put their mark on things and then you in the case of what I kind of jokingly refer to is brand obelus you've got a big public building that's been very expensive to build and it will be operating at a loss for the next few years in terms of income so the transfer you join power authorities went out to sell naming rights to things within the building sales force said Hey will pay you in a hundred and twenty million dollars over twenty years to put our name on the entire building be the only sponsor and also put our name on the park and so for the any you know for the government body it's a good way to get some money is this the new face of San Francisco I hope not it's the kind of thing you see honestly other cities are have gone farther than San Francisco because they've been cash strapped for a long time the problem with in San Francisco you know we're blessed with this very strong economy so you have all these big companies that want to stand out in the crowd like if you stand in sales force park which right there is a signal nexus salesforce tower you see logos for slacking would be in the news the new online thing for companies you see I think six tips and one of the buildings real close by you know these companies all want to kind of say we're here we're local we are cool and so you just have a lot of companies all kinda clamoring for attention I make jokes about selling the naming rights to somebody's child of the corporation will pay for the kids upbringing is tech thing or just corporate in general Hey it's corporate in general I mean the end of the war years are going to be going into chase center and chase center will be the center of Dr city which is a crazy sponsorship being bought by Kaiser Permanente a that basically kinda to brand the plaza outside of case center the warriors arena but then it also the warriors kind of tossed in the office building walkways and corridors and things like that I mean to those the two office buildings are gonna be occupied by uber I can't imagine is gonna brand itself as a Cooper at tri city I'm saying this only half in jest but what about what about you know these these homeless encampments what about putting up some kind of housing for the homeless and naming those well you know what someone was saying maybe you know instead of a doctor free way corporations could like adopt a homeless camp or something like that I mean you know it it is the same and you know part of the drive is the government can and needs money to try and do things or that's the perception that how can we get more money so it does become a certain bit of how will corporations pay to do something that's where the idea of put the name on a park put the name on a school you know you choked but believe it or not like about twenty years ago this idea came and are about ten years ago this idea came and went real quick the Golden Gate Bridge in forty years bridging transit authority looked into the Golden Gate Bridge maybe doing some sponsorship there and I think it just collapse quickly out of the whole you gotta be kidding Dr but now we've got Caltrain looking into naming rights for its stations on the peninsula as San Francisco chronicle's urban design critic John King going on about brand obelus CBS news time seven one five time for the case to be a super micro Intel money does come in it was an update from Wall Street the games were.

A. M. KCBS twenty years twenty million dollars forty years ten years
Starbucks' China challenger Luckin Coffee files for U.S. listing

Bloomberg Daybreak: Asia

00:32 sec | 1 year ago

Starbucks' China challenger Luckin Coffee files for U.S. listing

"China's challenger to Starbucks has just filed for a US luck in coffee is seeking to list on the NASDAQ under the ticker hell cave. Beijing based company is said to plan to raise about three hundred million on the IPO. Last week the coffee unicorn raised one hundred and fifty million dollars from black rock and other investors and valuation of two point nine billion and David I saw funny tweet from somebody who went into a Starbucks. They were giving out free coffee and they went in with a luck and Cup. And after hesitating

Starbucks Beijing China United States David I Fifty Million Dollars
"black rock" Discussed on Masters in Business

Masters in Business

02:48 min | 1 year ago

"black rock" Discussed on Masters in Business

"We don't have a galaxy in distribution of firms and assets say very much fat head long tail where you have the big four really the big three vanguard black rock State Street. I'm trying to even think who is the next closest after them powershares. And that's you you you get down the spectrum. I mean, you're. Your power law distribution is it's three. And then it begins to fall off pretty rapidly. Why have only three companies captured so much of the investing public mindshare? Yep. And assets, they actual DAL. Share a black rock is six trillion going on seven trillion vanguard is five on the way to six trillion. With a t why is it just a handful of companies that seemed to be the biggest winners in the space because he TF's are natural monopoly system. Unlike traditional active mutual funds in active mutual funds, you need a Cambridge explosion different guys trying different things in ETF LAN, a large liquid Tf is better than a small illiquidity f. So if you already have good exposure to the five hundred you don't really need other funds now other funds have popped up because you get distribution in different channels. There may be two or three ETF's offering broad-based exposure, but you're going to see severe concentration in ETF assets. As long as they're. Aided by index exposure because larger is better in ETF's. And that is a good thing for investors. And I think it will persist maybe indefinitely, and certainly for the next ten years so lodgers better, and I'm gonna guess that's a function of a combination of scale quality and liquidity those. Yes scale it costs. Yeah. Right. It's cheaper to run a large Tf than it is a small ETF there. Just no advantages to a small retail now small retail can be liquid and they can do innovative things. But you can't launch a me too ETF without a unique distribution mechanism like Charles Schwab has an expected to gain assets. They'll just all go mostly not all but mostly they'll go to the large players, and that's why it's a great business for for black rock in van garden and State Street quite fascinating. I know I only have you for a finite amount of time. Let's jump to my favorite questions, and I'm gonna throw a few curveballs at you with this. I'm ready. Let's start. What's the most important thing? People don't know about Matt Hogan's. An inside joke about NAT HOGAN, let's see my career started as a minor league baseball mascot. Yeah. I was a nine foot ceiling for the AA Portland. Seadogs? No, I say that ingest. My career path has been very unusual. I've been.

ETF NAT HOGAN Matt Hogan Charles Schwab Portland baseball Cambridge nine foot ten years
"black rock" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:17 min | 2 years ago

"black rock" Discussed on Bloomberg Radio New York

"ETF dot com. A division of the. We. Previously. He worked at back set analytics and before that he was one of the people who helped create the concept of ETF's at Barclays. Let's talk a little bit about some of the issues that are surrounding KTF's today. We have a little bit of a fat head long tail problem. You call it a fatter. That's right. In that ETF, issuance and underwriting is very top. Have you have vanguard black rock and State Street dominating? I mean, that's the vast majority seventy percent of the assets that's not necessarily what what is there? Twenty one hundred. Yes. Over two thousand right now and by number short, black rock in particular has a large number. I think it's four hundred in the stable twenty percent. Yeah. And to put that in perspective back in the two thousands early two thousand there were one hundred and fifty two hundred ATF. So there's been really fifteen years of phenomenal asset in product growth. Really now covering virtually every corner of the investment market from physical gold junk bonds. So why those first of all why the three biggest dominating? And then the next question is why those three, but I kind of have a sneaking straight. And why why just why is it? So dominated by these giant firm, well because the economies of scale here dramatic, and one of the sort of accidental advantages of ETF, so it wasn't designed for this is that they have become incredibly cheap. And we're in the midst of a price war. That's driving them down towards the price of zero. They can be that cheap because running an incremental dollar in the S and P five hundred costs literally, no money, right? If if black rock, which manages, I know six trillion trillion dollars, probably a trillion dollars of that is tied to large cap US equity for them. I'll be more for them to manage an additional dollar literally doesn't cost anything. And so the marginal cost of production in big index shops, so low they can price these products at three four five eight basis points and still eventually make enough money to survive very tough for ritholtz wealth management to get into the game at three basis points and ever make time to launch. And we I explored this last summer. I looked at a couple of interesting ideas. It's a couple of hundred thousand dollars to half a million to launch by the time. You get done with recordkeeping and custodianship to bits here and three on five bef- is a lot of expenses that go into it that it's not like, hey, here's an idea. Let's launch an ETF. It's a complicated legal accounting underwriting issue for a small shop. But for Van Gogh to BlackRock or St. street if they want to crank out a different ETF every day. How hard is it's not hard at all. And it is getting easier. There's a big new set of rulemaking out of the SEC that actually in common period right now that would clean up that process, and maybe drive the cost for a new issue were down from that couple hundred thousand to maybe one hundred thousand will become less of an exception to the rule and more of an approved activity, but they're still worked. It's gotta get done and you have to establish all this relationship. So those. Those big players have that entrenched economy of scale that I think is really tough to compete with. And that's why you've seen very few upstarts if you will really get a lot of traction. So we've been spending a lot of time talking about equities. Let's talk about bonds for a minute. There are lots and lots of dollars allocated to bond ETF's so much. So that hits had a giant impact on how bonds are traded. And what Wall Street bond, desks, look like today, you're the first person who brought this to my attention. Explain what what has been taking place over the past decade, but we have two things going on at the same time. One is because regulation we no longer have banks. Having giant bond us, pray big. They had to basically get out of that business was it regulations or was it zero interest rates, and they weren't making any money. So the hoops you had to jump through to run an eighty style bun desk were significant and the capital allocation was no longer making that much money. They're better things for them to. With that risk capital. So you had that sort of abandonment of the bond market by traditional players. But at the same time, you had lots of folks that still wanted to invest in bonds investing in individual bonds. I'm sure you know, is kind of a pain in the neck, even even if you're just trying to buy treasuries. Sure, you can go to treasury dot gov and go do it all direct. You wanna do a ladder bond portfolio, or you want a portfolio of Muniz that are high quality? If a high tax state, it's not easy. It's not easy to do. And even as a professional investor. You're gonna pay significant spreads twenty forty eighty basis point spreads getting in and out of these positions to say, nothing if patient if you wait you can cut those eighty bits spreads down to like sixty. There you go. You could find something in the middle. But but it's a valid point. It's not easy to execute. These wrecks, but it's an asset class most investors should be in. And so that's why we've had on mutual funds. Okay. By mutual funds are fine. But again, you have all these pricing issues. You've got these embedded tax issues retrieving worse than those bond portfolios because most people in their bond, portfolio's one hold a certain maturity like I wanna hold five years my target or Asian or something like that to hold that. It means you have to constantly be selling something and buying something else in order to hold that duration at maturity and that creates taxes when you do that, particularly if you're in a bond market with rising prices and declining rates. So let me let's just delve into that. When you say people have to sell stuff to hold the same duration. It's as time goes by. Hey, suddenly things that were four and a half years become five years duration that's out and you have to add other stuff to make exactly. And so if you're in a, you know, an ice shared bond fund that says this is a five year Muny find or whatever. As that five-year becomes four. You have to sell it and has that seven year became five you have to buy it. And if you're an environment where the prices of those bonds have been going up, which has been where we've been for a long time thirty two year, then you've got those capital gains from that sales process in the helps you get rid of some of that. So. The thing that I find fascinating is that the bond desks have essentially been replaced by black rock now. When people want to do a big bond allocation, they don't call Goldman or Morgan Stanley, necessarily or UBS or Credit Suisse. They call black rock is that a fair assessment. Yeah. It's black rock in. Really? It's also folks like pimco, right and pimco, I think is mostly known as being the Bill Gross is old big shop for actively managed mutual funds. Davidge huge ETF presence now they're actually the largest actively managed ETF provider. And yet they have become the bond desk for the world if Mexico wants to float a new issue, they call BlackRock in or they called pimco and ask them it. Phil take down the whole thing. And that may never trade. You may never actually see it go across. Wow. That's absolutely fascinating coming up. We continue our conversation with Dave Natick. Managing director of ETF dot com discussing.

ETF pimco KTF Barclays ATF US BlackRock ritholtz Bill Gross Managing director Van Gogh Dave Natick SEC Phil Muniz Mexico UBS
"black rock" Discussed on Pat Gray Unleashed

Pat Gray Unleashed

01:47 min | 2 years ago

"black rock" Discussed on Pat Gray Unleashed

"Fix it don't make don't make people cup black rock don't do it coca don't do it so sad that says that so anyway i go through a scrolling my we'll go to one device at a time it's device like twitter we start topped about them late too early yesterday so we had the papers about the story yesterday and i just never got to it but the judge kimba wood ruled against president trump michael cohen today in federal court she's a clinton confidante was chosen by hillary to be attorney general she also officiated george soros is wedding it's a small world isn't it it's funny how that just works out amazing south cording to this tweet the end it says can you say deep state but i don't know that i'm gonna go that far but i will say that it's fascinating also mike pompeo cia chief met secretly with north korean leader kim jong we've found that out we talked about that a little bit earlier amazing amazing how did that just happen you already been aware of it and so wait the official cia directory here's not bet confirmed right because i thought we talked last week with they have no because rampal still say in how he's not going to cause we talked last week remember he had that ron what's his face from new jersey cory booker on being a christian and we were thinking that that would cost him the the director ship right.

"black rock" Discussed on WLOB

WLOB

02:50 min | 2 years ago

"black rock" Discussed on WLOB

"Onto camera hog speaking of cameras see how we swing through the jungle of knowledge yes camera hog ladies and gentlemen is out there fresh off his embolden boycott of laura ingram where he got about eighteen to twenty sponsors to drop her show by the way a ratings are going up but that doesn't matter camera hog is calling for boycotts of black rock and vanguard group so who is black rock and vanguard group well according to camera hog black rock and vanguard group are two of the biggest investors in gun manufacturers if you use them feel free to let them know thanks so that's it folks camera hog is going after he's going after these people who invest whenever you saying you and then he's hashtag boycott vanguard hashtag boycott black so anybody who has any investments in gun manufacturers is ridiculous we need to be invent we need gun manufacturers course this little tour is up there now he's he's he's drunk with power and so he thinks oh i can do anything i want now we can get this guy needs to be stopped he needs to be knocked down of united i don't mean physically i'm not threatening i'm just saying people need to ignore the dudes boycotts and a matter of fact what they need to be doing is is putting their business in vanguard and black rock and all the gun manufacturers and let's see let me tell you something i don't mean this to be a little insider trading but if i were to encourage you today to go out there and invest in any of these gun manufacturers that are being traded publicly and i don't know how many there are i think remington is actually private i'm not sure but you know they've been having some financial trouble but you go out and invest and i don't know six hour block whatever what do you think happens to that stock i mean it's happened over and over again i mean we see i mean johnny be seen it i'm just telling you i bought stockings on you know just give it a couple of weeks and for some reason it's bankrupt and so yeah i wish i could buy stock in the aclu and sierra club the sierra club sell stock i mean it'd be great stocks to buy put him out of business al gore.

laura ingram sierra club al gore vanguard group johnny six hour
"black rock" Discussed on BizTalk Radio

BizTalk Radio

02:52 min | 2 years ago

"black rock" Discussed on BizTalk Radio

"And in the face of massive fiscal stimulus and infrastructure spending morgan stanley's mike wilson was one of the streets most bullish strategists in two thousand seventeen and now he's the most bearish great according to cnbc the market strategists survey at the same time black rock has flipped interview and is now more bullish okay so morgan stanley was bullish and his now bearish black rock was bearish and is now bullish and that is bullshit mc right as the world's largest money manager black rock is quickly changed its tune on domestic equities keeton more black rocks chief equity strategist told investors that the fundamental story is the best it's been which is surprising given how far we are in this cycle wouldn't you say and it goes on i mean i'm not even gonna get into it because you can't make decisions based on this stuff folks and we're in the business here of trying to make better money moves and sometimes the best money move is to not move at all but i start today with this where is it what is the price of happiness there's a new number in sit back folks relax it is the ray program helping you make those money moves that will work best for you and a lot of it has to do with yourself and not comparing yourself to somebody else the socalled keeping up with the joneses mentality julia chang wrote and forbes how much money can buy happiness here's what julia had to say the income at which individuals experienced peak satisfaction with their lives has been determined and it's ninety five thousand dollars this is why you guys are so unhappy yet another job work in the media busy don't make that kind of money if you want to settle though for just emotional wellbeing these psychologists from purdue university and the university of virginia tell you that you can aim between sixty five and seventy five thousand that was the number that i recall from a couple of years ago it was once you made seventy five thousand dollars the fact that you made two hundred seventy five thousand didn't make you that much happier in fact in some cases that made you.

morgan stanley mike wilson julia chang forbes purdue university cnbc the market joneses university of virginia seventy five thousand dollars ninety five thousand dollars
"black rock" Discussed on KBNP AM 1410

KBNP AM 1410

02:22 min | 2 years ago

"black rock" Discussed on KBNP AM 1410

"The highest jpm is a symbol they're very strong action black rock b l k in symbol they're sitting right off the fifty looks like the x l f acts well wells fargo of course we know is a little bit of trouble because of what happened at leicester yellow was office she some you know had her in they've had little bit the deal with some other stuff that they have to deal with but uh over all the banks or financial the exa left the french services stocks continue act well support fifty day moving average and nearterm resistance will be wednesday's high uh the stocks the semiconductor index s m h the symbol there a very strong action you've got a similar pattern to uh between accusing the s p where worst not as uh uh uh you've got some healthy act downward trend line forming in the smh semiconductors were also good proxy for the market when the semiconductor stocks do well all things being equal the market those well not always obviously the correlation ebbs and flows but for now semiconductors acting well you want to see a break out above the high from i would say tuesday 105 see nine which is more or less where we closed at 105 66 so uh y you're on the verge of a nice little downward trend line get taken out and then take a look at the old chart highs but the semi's act well let's look at some of the stocks in the video and vda very strong action pulled into the fifty briefly broke it for a day got right back above it very very strong action lrc ex uh lam research strong action there as well little bit sloppy are than the video a wider looser but i you know i can't sit here and and they pay too much um kaley sees assembled for kelly tencor decent action there as well stepping back and just looking at the charts a micron m u good action their midlevel based trying to break out here acts well adobe systems uh tech stock adp easy symbol new high their acts well let's see a few other ones uh uh uh well will let's move on 'cause we've a lot more to talk about so that's suffice to say the financials act well the semiconductor stocks smh act well and let's talk about steel for second steel stocks are acting well also because of the.

jpm leicester yellow smh semiconductors lam research kelly tencor fifty day
"black rock" Discussed on The Black Guy Who Tips Podcast

The Black Guy Who Tips Podcast

02:02 min | 2 years ago

"black rock" Discussed on The Black Guy Who Tips Podcast

"In black directors and black rock act is a shit oh so is a little bit different to see um you know citizen action more importantly arm women made up like almost forty five percent is ticket sales are some something like that i note idea yeah and i in that that's because is the movie where you walk out in unite the feel like you know as a woman like will out it was a good story but of course i wasn't seen in this again i'll we were seen all over it and i was here for it and also i think for me he particularly here in america black people speak up and she moves were other marginalized groups not to other marginalized groups can't do she'd only all 'cause they do all the time but black people lie towns have the loudest voices and we lie a we're not gonna put up with this shit we raise hail alatas is is mike once they opened up the guy for us it lily opens up the gate for other people because i eventually be further down the line i could see them doing dave tap don't lgbtq but actually have an openly gay without doing things rounded lgbtq trans you know we talking about native americans you talking about asian america's do hata but i like the focus on them is slow from of a live action like i could see them doing other things where you have all these princes you know because the prince this was the big thing because you got the first in the frau is false i black but half the movie issue when the prince be machine when the princess he was the foul and so uh things like that matters to people it matters because now you have a whole generation of children and have something to look up to something to look forward to a you have a lot adults this tapping into their childhood and a joint things just for what it is and so i am happy and i am excited for all the re.

america dave forty five percent
"black rock" Discussed on Bon Appetit Foodcast

Bon Appetit Foodcast

01:31 min | 3 years ago

"black rock" Discussed on Bon Appetit Foodcast

"Now equipped word from our sponsors this week's episode bontempi gas is brought to you by exxon mobil did you know that nearly a third of energyrelated carbon emissions come from power plants exxon mobil is working on a way to change that the researching new fuel cell technology which has he potential to capture co 2 emissions from natural gas power plants improves additional electricity at the same time learn more from exxon mobil at energy factor dot com this week's episode is also brought to you by black rock a new home in four years college tuition in nine retirement in fifteen for lace most important events there is a win but in order to plan properly you also need a how i shares understands the importance of how like how to start building for the things that matter most to day so by the time when arise you'll be ready i shares at black rock inspired to build in one more thing one of our advertisers is conducting a survey and they will be grateful for your help in answering a few questions it will take less than ten minutes of your time in your participation helps support this podcast go to slate dot com slash survey two to complete the short survey of this week's episode is also brought to you by crown publishing pick up their book me hands bartender manual by claimed mix algis and friend of bonded petites jimmy in it is his.

exxon mobil carbon emissions crown publishing natural gas ten minutes four years
"black rock" Discussed on WTMJ 620

WTMJ 620

02:10 min | 3 years ago

"black rock" Discussed on WTMJ 620

"That we have to look at their hold that structure you know they owe a lot of money to your friends on wall street and we're going after white that out that's going to have to be uh you know you can say goodbye to that other nova's goldman sachs but do ever it is you could wave goodbye to that we have to do something about because they're the debt was massive on the island bob your president beer take so it's either a wall street problem or a hedge fund problem natural assumption right given the fact that he called out wall street and goldman sachs your incorrect only about 25 percent of puerto rican debt is actually held by had 24 five percent so i'm guessing that the other 75 percent is probably like our problem white mainstream round lane st john's so there are five hundred thousand individual bondholders there are hundreds of thousands more investors with exposure through mutual funds this is not just a a hedge fund roh wall street in cancelling the dead that would help the island's recovery and speed that up but if it's not cancelled then investors could be left with those losses yeah and they could be significant morningstar said that there's like three hundred bond funds that own puerto rican debt bonds were popular because they had some pretty decent yield and they had tripled taxexempt status so oppenheimer to black rock franklin templeton these were some of the biggest holders if the problem that i see in the offices is that people don't know what their exposure us and they they wouldn't know unless you knew everything about your bond funds so let me give you an example of why you may not know what you own take oppenheimer rochester maryland bonn fun as of eight thirty one the last time that they reported their portfolio the fund had almost twenty six percent of its holdings in puerto rican boss and the name as rochester merrill rochester meryl so you have no clue unless you looked really closely under the hood name means nothing so if you're investing on your own you gotta dig into your portfolio dissa this oppenheimer example minutes a textbook case of whites critical to know what you own and why you on it if you're doing your own investing that means you gotta check your fun prospectus analyze the portfolio.

nova goldman sachs president mutual funds morningstar oppenheimer maryland bonn puerto rican rochester twenty six percent 24 five percent 25 percent 75 percent
"black rock" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:18 min | 3 years ago

"black rock" Discussed on Bloomberg Radio New York

"The majority owner of this set of this radio network a moderator on trade is one christine lagarde of course of the international monetary fund madam lagarde we'll have a really eclectic smart panel a gentleman named toto from canada root for the netherlands law orange fink from black rock on the other black rock blackstone stephen schwarzman lawrence freaked together and stage is really important those are two of the straighter talkers again getting away from this thought leader stuff and getting more to real conversation about what's going on today and certainly to people who have had a lot of experience that you're facing with that with this way white house with policy in washington dc kevin serially just a moment ago mention that he's at the business roundtable jamie diamond jp morgan the the chairman of that group for these next a few years leaving a conversation about tax reform i'm sure we'll hear some insight from it seeks schwartzman the angela bitcoin mr diamond tread lightly in ruins hala hashish here bitcoin we will do bitcoin tomorrow let me to a shout out to all of what bloomberg digital's doing in facebook live if you haven't checked out it is what the youth of the world are doing to me it is a little foreign i think has to we agreed to it were you do facebook live but tomorrow a special edition of facebook live with joe weisenthal and michael mckee and we will discuss coin in i really wanna get away from it's a fraud it's great to lips all of their like okay what is this thing and why does once i get so upset pence so that's the goal we stunning will forget the two big things emerging here of certainly we talked about the opioid crisis yesterday with a doctor told because you're without kruger earlier in the week that was a growing more thumbs his wealth you in washington with dr cosgrove and i thought it was fascinating to go from two going from kruger's academics to going from kruger's academics over to the cleveland clinics toby cosgrove and particularly his relationships senator portland absolute level as you brought up his history in vietnam ah as well and i thought he was particularly poignant insightful on now what hitler and from being a medica during the vietnam carson as i mentioned before kim burns is scheduled to join us in october we wanted to get through.

dr cosgrove hitler vietnam senator toby cosgrove cleveland michael mckee joe weisenthal canada madam lagarde international monetary kim burns christine lagarde washington kruger pence fraud facebook bloomberg digital hashish schwartzman chairman stephen schwarzman lawrence
"black rock" Discussed on The Big Podcast With Shaq

The Big Podcast With Shaq

01:34 min | 3 years ago

"black rock" Discussed on The Big Podcast With Shaq

"Carlos for coming in in in by which i got his wife's jewellery line that's that's pretty awesome too not her hot trends no don't don't do that it was a joke i'm sure what everybody in trouble today are anton detectives at the black rock police department in barbados are seeking the whereabouts of a 22yearold african american male before we go oh well you will have more to forgo bloomberg's with michael bennett here's an investigation now being launched because if you saw the video michael bennett story was boost your new mcconville there was a shooting in the closet or reported shooting in the closet and mike renting out hid behind a crowd stand behind a slot machine which which is supposed to do okay but then when they asked him to come out he ran from the police he ran from the police and they jumped a fourfoot wall and then crouched down behind it and was soda hiding out and so they were like why is he running so that was the reason that they already being and if you look at the video of the incident it was the crowd is like maybe ninety five percent african american guy so there was no way he was being targeted because he was african american wearing body was africanamer landlady insinuate that yes alka his lawyer backed off of it it doesn't make sense doors were removed roker now the one thing is though i can tell you this shag my friends in the seattle meeting.

Carlos black rock police department barbados bloomberg michael bennett roker seattle ninety five percent fourfoot
"black rock" Discussed on NPR News Now

NPR News Now

01:37 min | 3 years ago

"black rock" Discussed on NPR News Now

"Support for npr and the following message come from i shares because the best preparation for tomorrow is building for your future today i share by black rock inspired to build live from npr news in washington i'm jack spear senate majority leader mitch mcconnell is delaying the vote this week on a set had healthcare bill while the gop leadership works on getting the votes it needs to get the measure passed mcconnell said today are quote still working toward getting at least fifty people in a comfortable place for conveying to talk about a very complicated subject i remember a challenging a was for the democrats whenever enacting us evac and twenty one on a twenty down the bid complicated subject with a lot of discussions going on were still optimistic run against the other republican senators are meeting with president donald trump at the white house today to discuss the future of the bill president told lawmakers they have the chance to pass an important bill us backed iraqi forces say they have recaptured tumour neighborhoods from islamic state in mozell npr's alston news reports thousands of families remain trapped in the last ice is held enclave of the city in iraqi military spokesman says government forces are advancing in mussa's old city brigadier yet he added soules says counter terrorism forces have taken the district athetic on ola while the army has recaptured the district of mischief day and shall law lamentable and with the law not unknown us looking theme of on the hammadi to muscle anemic god willing he says the suffering of our people in the old city of muslim will not last much longer the campaign to retake the city started in october of last year.

npr washington mitch mcconnell donald trump white house president mussa soules army majority leader gop alston