25 Burst results for "Chairman And Ceo"
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"But do you see Jenny that there's a clear division between the U.S. and its technology prowess China doing it? It's not the globalization that we've been living for so long. It is, do I see a difference between the two types? Well, I just mean that there's going to be not the cooperation. Not as much cooperation, but there are things we can cooperate on like the environment. And technology is around the environment. Think about that. And then on the other side, no, we've got to have our own race and really be the best in the world. So much of the U.S. prosperity has been driven by America being the leader in technology. By far across any other country. And that's what we have to continue. And so like I said, that's why I'm glad to see it. And then so we will continue our out innovating. Part of that, and we've got about a minute and then we're going to come back and talk some more of our 30 seconds, 40 seconds. Immigration needs to be part of that. Yes. I agree with that. I've always said that, you know, skills have no passport. And this idea that ideas flow without a passport too. And I really believe in central part of America actually is that ability to bring in skills and be a destination for people who want to innovate in a country that has rule of law protects IP. I mean, that is what brought people here. There are other countries in the world that you see when they have focused on that. They've blossomed when they close, they don't. So that is a concern. All right, sit tight. We're going to come back and we're going to continue with Jenny Romney. We could do an hour or two. We're not going to. Listeners. No, no, no, no. Former chairman CEO, of course, if IBM, her book is good power, leading positive change in our lives work in world and we want to get to that because I want to ask her about good power versus bad power because we definitely see it play out. I feel like in the headlines every day. Carol master, along with Mike Regan, you are listening and watching Bloomberg business week right here on Bloomberg radio. Let's get a check on world of national news off to D.C., our men and I won newsroom and Nancy Lyons. Hey Nancy, hey Carol, well President Biden is out with his $6.9 trillion budget proposal. He talked about it this afternoon in Philadelphia and reflected on his dad's belief. The way you measure what someone values is by looking at their budget. Folks, let me tell you what I value with the budget I'm releasing today. I value everyone having an even shot. Not just labor, but small business owners, farmers, and so many other people hold the country together who've been basically invisible for a long time. Biden's budget would increase funding on some government programs, would extend the solvency of Medicare, lower prescription drug prices, and cut the deficit by $3 trillion over the next decade. To pay for all that, he's recommending tax increases on billionaires and calling for the doubling of the capital gains rate for those making at least $1 million. House speaker Kevin McCarthy says he does not support raising taxes on the rich. One of the lawyers behind former president Trump's efforts to overturn the 2020 election is now facing a legal reprimand. Bloomberg's Nathan Hager has more from Washington. Jenna Ellis has been formally censured by the Supreme Court in her home state of Colorado for spreading falsehoods about the 2020 election. The court says Ellis admitted making ten misrepresentations on television and on social media, including claims that the election was stolen and that the former president won in a landslide. Ellis once called herself part of an elite strike force along with fellow Trump lawyer Sidney Powell and Rudy Giuliani, the Supreme Court decided not to disbar Ellis because she didn't commit any crimes. In Washington, I'm Nathan Hager, Bloomberg radio. Letters from some famous names will be in a new book from former president Trump. It's called letters to Trump and includes notes from late historical figures like Princess Diana and president Nixon. The price tag, $99. Global news 24 hours a day powered by more
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"We're trying to figure out, are you purpose driven? Are you actually someone who's going to be purpose driven? But then we have something that I learned from one of my mentors that you've talked with Jack Brennan before. Former chairman CEO. And he always established this early on in the culture that it would be client crew self. Always in that order. In a lot of companies will say that. Like you will put the client first. But we don't have another choice. Our clients own us, we don't have anyone else to serve. And then during the pandemic, you can clear us, yeah, but the only way we can mess that up is if people start putting themselves in front of the client. And so the leaders there, we have to say, okay, we have to enforce it. It's always the client first. And as a leader, then that means that you have to take care of the crew before yourself. So we emphasize that holy that leaders are going to actually make sure that crew know that they care more about their success than their own. So for me, it's more important to see my team's success than Tim Buckley's success. And it's amazing how that helps build the team. If your true behind it and it builds a collaboration on that team. And then down the road is somewhere where you put yourself. But that is a core to our culture. We're able to do it in a virtual world, but now that people are basically back for three days a week, it's a lot easier to reinforce it. And people to see it when they're actually face to face. So back three days a week, home, optional two days a week, how does that structure change what you expect people to do when they actually come to the office? So I'm sure a lot of people have been through this where they come into the office and we had it at first where people came into the
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"Get Bitcoin. And I don't want to buy infrastructure right now. If I can avoid it, you know, 30 year infrastructure to mine Bitcoin, I would rather pay per kilowatt. So we do everything through hosting companies like core and compute north that they up charge us on the cost of electricity and the infrastructure. So that's been our approach to it. And then with that, we're kind of like outsourcing the dealing with the local politics of Bitcoin mining is loud and it throws off a lot of heat. So there are neighbors that aren't going to like that. So where are your machines physically? I mean, are they just an IT office park kind of thing? Where do you house them? It might maybe not just you yourselves, but just the industry. So just relying on public information, we have a bunch of them at core scientific and specifically at their Calvert city, Kentucky. Yeah, I wanted the high point award there at age 9, so I came back years later to spend some money. So these are that facility, if I recall, used to be a steel facility, so it had great power access. There's a new facility out there in the western part of the state of Kentucky. And so that brings you to the energy piece, which is if you're on the grid, you're getting whatever energy is in the grid. And that's where we are. All right, that's good stuff. You know, two thumbs up for Kentucky. Again, I'm a big fan of bowling gear in Kentucky. You didn't know that, Michael. Big, big bourbon guy over there. Yeah, exactly. Bruce Rogers chairman CEO and president of LM funding joining us on Zoom from Tampa, Florida. And that whole mining aspect. It's just fascinating. You know, my understanding level is relatively and an elemental, but I mean, just the concept of just cranking out code and then just kind of running and running and running it and the power associated with running those machines. You know, it was interesting to hear Bruce, you know, that sort of skeptical lawyer's mind. Yes. Figure out this is the avenue. At least likely to get everyone in trouble, which is good stuff. All right, good stuff. That was Bruce Rogers. Right now let's get a
TMX Presents: The Podcast
"chairman ceo" Discussed on TMX Presents: The Podcast
"Once we felt that there's tremendous momentum behind the business and the growth is there and we can count on it, we felt very comfortable at exploring the upgrading to the TSX and listing on NASDAQ. So at that point, market cap started growing significantly, our revenue, as I said, we listed on the venture exchange in June of 2020 and in 2021, we grew revenue by 635%. So at some point in the middle of 2021, we realized that revenue is picking up dramatically, and at that point we said, okay, we probably belong in a different place. Even though we thought it's going to take a couple of years, it only took one year, but I think it was the combination of looking at the revenue numbers and feeling very comfortable with the sustainability of the growth. One more before we sort of get to the how you built it and how you got here because I'm always equally interested in that portion. But you're wearing so many hats, you're obviously leading a fantastic team, you're trying to grow real, but you're still this at heart, like your DNA is this Gritty entrepreneur and founder, right? But at the same time, you're dealing with this behemoth of being public and having to deal with all the requirements. How is that learning process like for you? Is it learn as you go? Is it the team around you, the advisory group? No one is born a CEO of a publicly traded company. I think that when you consider taking that step, you kind of have to sit with yourself and say, okay, I'm going now into an uncharted territory, and there's a lot that I need to learn. So you're just starting to learn about things. You're starting to have conversations with other people who did the same journey. And you also have to commit to constantly leveling up, because it requires you to level up constantly, especially when you're growing so rapidly, it means that there are certain things and measures that you have to put in place. You have to adhere to certain regulations as well. You can not completely operate the way that you operate it as a small privately held startup.
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"In on the retail space with the heads of competing high end Activewear apparel makers. We're talking about roan and fiori. And how Miami's crypto faithful are coping with the collapse of FTX. The cop and I think okay, it sounds like party on party on. First up, this hour he's an entrepreneur. He's cofounder of two companies, including the one he runs now, president of Asia and Electronic Arts there for about 7 years before that. He was president of Asia Pacific over Walt Disney international. It was really nice to have back with us, John nearman. He's chairman CEO and cofounder of Luke media. It's a multichannel streaming platform. It's got a $340 million market cap. So it's a small cap. And it went public after an uplisting as part of a $12 million underwritten public offering. That happened back in September. We began by asking for his thoughts on the pain being felt across the digital advertising space. Everybody's it's all doom and gloom, right? It's just falling apart. It's tanking. If you look at if you hear from snap, now I don't agree with it. You're saying that's what you're saying. No, I'm not coming out strong like, no, I'm coming out saying, that's not entirely accurate. I think a certain segment, if you look at advertising across the board, you got the traditional advertising, linear TV, outdoor, et cetera. Now, 55% of the people are doing digital advertising. So yes, social media in that area, which has grown robustly has taken a hit. But areas like connected television, your Roku, where you Pluto is, et cetera, they're growing. Digital out of home are also growing. Those are the two areas we play in. So I don't agree with this kind of blanket statement of it's just all bad. But would you agree with the blanket statement that companies are tightening their belts? And when companies do tighten their belts, one of the first things to go is marketing money. I would agree with that. Yes, but I also think they refocus it. So if people are going out again, you know, as we know, unlike a couple of years ago, even though past year, people are going out, it's a great captive audience. They're out for a good time. They're having a good time. So targeting groups like that out of home, as opposed to just your mobile phone all the time, is something that people are expanding into. How do you do that? So like loop media, we have a platform that's advertising supported. We're in any public venue as small as a pub to as large as a university campus. So whether you're a dry cleaner, a tattoo parlor, a CDB store, you name it, they have screens. So we create a network basically out of home, a previously these were all kind of disconnected. Think about where homes were ten years ago, it was cable and satellite. That's still where businesses are. They don't really have a streaming option, and that's what we're bringing to them. You don't go to a restaurant and watch a movie. And basically all streaming services or movies or TV series. If you're a 7 year old, you do. Yes, you do. Your parents give you an iPad and you say, watch this movie while we have a nice peaceful dinner. Yeah, exactly. We go to a sports bar, they're constantly playing caddyshack the whole time. There's nothing wrong with it. So wait, so help me understand. It's exactly what you're doing. So you're going into spaces that may be typically did not have advertising before. Correct. So previously, so in our world, we're not really about subscribers. That's a consumers. How many subscribers do you have? For us, it's how many locations are you in. So we provide that as ad supported for free. Coming out of the pandemic, people had all these costs to worry about labor food, et cetera. The last thing they're worried about is spending money on a TV screen. But they didn't have that free option before. So in order to get that free content and digital signage, you need advertising to support it, obviously. So people are moving part of their media mix into this digital out of home space, which you'll hear more and more of. What's the growth that you've seen? Give me where were you pre-pandemic versus pre-pandemic? Where are you today? You were about $3 million in acquired revenue. We were basically a startup. We had bought a small company that provided music videos to out of home. Right. And this past year we finished 5 million. We haven't released our fiscal. However, the analyst estimate is around 30 million for us to go. That's a big gap. We go from 5 to 30. Is that realistic? Yeah. So if you kind of look at that, yeah, that's the type of growth that you're looking at. Which venues in particular are providing the biggest momentum for you guys. You mentioned restaurants. So you're telling me if I go to Danielle? Go ahead, you can go to margaritaville right down here at Times Square. So not Danielle. Can we talk to you? You could. Yeah. So if I go to margaritaville, where am I going to see the screen at the bar? Here at seat at the bar, you're going to see it in common areas. You're going to see in the lobby. Okay. You know, we're also in 400,000 hotel rooms. Okay. So we provide largely about 40% of our business at bars and restaurants. The rest are just kind of other retail. John, tracking ROI. How do you tell clients what they get, what their return is. So for them, it's really a couple of things. One, it's about cost savings. So what used to cost them they can actually earn a little bit of money because we do provide a rewards program. So when you use our service, you keep a screens on. You have a chance to earn some cash. So that's a great thing for their balance sheet. The second thing is really just the opportunity for them to engage the customers. And you know when people are engaged, they stay longer and they spend more. So there are quite a few studies that actually show when that entertainment is good in house. People are sticking around. So you're putting wordle on there? No, yeah, but we do have a trivia channel. So when you, you know, you're at a bar with your best friend. Yeah. Joe, or Jane. And they're saying, what the heck do you do? Yeah. So you stream videos, you're a video streaming company. Into public spaces. So bars rest, you know, so any company can do it. The company can do it. They just need to find us. We get them a loop player. They plug in the loop player. Previously, you'd have these giant AV racks, you know, you go to we have you're dating yourself, but I know. Thank you. But even though you're doing yard house and you can have big Dell computer there. And their clunky and horrible and expensive, and now you just plug and play, like you do at home. Is what you plug in a hard drive or a stored memory device, or is it does it give wireless access
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"This is Bloomberg businessweek with Carol massar and Bloomberg quick takes Tim Steven from Bloomberg radio. One of the things we love to do regularly is check with CEOs of all different types and sizes of companies for insight yes on their businesses, but also on the macro outlook. One such company recently was octa, which is a roughly $8 billion market cap company, it's an identity and access management software firm working in the cloud. Guggenheim upgraded the stock to buy earlier this month, saying the firm's valuation is quote too compelling to ignore, despite challenges that will take several quarters to sort out. And Carol, you went straight to the source to find out why? Well, that means we went to the company, right? Bloomberg, radio's Paul Sweeney and I caught up with octa's cofounder chairman CEO, Todd McKinnon. He was joining us from the company's octane 22 product expo event. And as a tech exec who has a front seat on disruption and innovation, we began by asking for his reaction to some big news of that day and that was the sudden collapse of sand bakman freed's crypto exchange FTX. I think we're all watching it and we're all trying to figure out what it means for the broader ecosystem. But one thing is for sure. Silicon Valley is in a different world than it was a year ago. Everyone is making sure that we're doubling down on our most strategic and important initiatives and maybe some of the things we were doing last year that maybe wasn't necessary. We're not focusing on that as much as we are all of our core strengths and that's why we're so excited about this conference and what we can bring to the whole technology market with our world class identity products. So Todd I'm just looking at the FA function on the Bloomberg terminal and it looks like a Wall Street analyst have 30 to 40% growth revenue for the next few years top line for you guys. What's driving that growth? Well, every industry across the world is trying to do more technology, whether that's adopt the innovation in the cloud or keep secure and stop the risk of data breaches or transform digitally and build better customer experiences through the world beating websites and mobile apps. And identity is at the heart of that. You need to log on employees at work and do it securely
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"A Bloomberg business flash. All right, got it, Charlie. Thank you so much. You are listening and watching Bloomberg business week on this Thursday, Carol master, along with Paul Sweeney. And after shares, they rallied over 8% today, taking part in the overall jump that we saw in the equity markets. Today, stock though is still under pressure, roughly lower by maybe 80% a little bit less than that. The $7.8 billion market cap company is an identity and access management software firm working in the cloud and Guggenheim upgrade the stock just on Monday saying the company's valuation is quote too compelling to ignore just by challenges that will take several quarters to sort out. So we want to talk about the business and what is the way forward Todd McKinnon is the chairman CEO and cofounder of octa, he joins us via Zoom in San Francisco from the company's octane 22 event Todd. Nice to have you here on Bloomberg. How are you? I'm good, Carol. Thanks for having me on. It's great to be here on Bloomberg radio and TV. Well, it's great to have you here. Lots of talk about, I got to ask you though. I want to get into the business and about the event, some of the news that you guys, you are though, in the heart of Silicon Valley, have to ask you is everybody talking about the recent crypto malaise that we saw with SPF and FTX? I think we're all watching it and we're all trying to figure out what it means for the broader ecosystem. But one thing is for sure. Silicon Valley is in a different world than it was a year ago. Everyone is making sure that we're doubling down on our most strategic and important initiatives and maybe some of the things we were doing last year that maybe wasn't necessary. We're not focusing on that as much as we are all of our core strengths and that's why we're so excited about this conference and what we can bring to the whole technology market with our world class identity products. So Todd, I'm just looking at the FA function on the Bloomberg terminal and it looks like a Wall Street analyst have 30 to 40% growth revenue for the next few years top line for you guys. What's driving that growth? Well, every industry across the world is trying to do more technology, whether that's adopt the innovation in the cloud or keep secure and stop the risk of data breaches or transform digitally and build better customer experiences through the world beating websites and mobile apps. And identity is at the heart of that. You need to log on employees at work and do it securely and make
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"Much. So remember earlier this week we talked about this was with Bloomberg's max chaffin about how Mark Zuckerberg is all in on the metaverse, right? Focusing on that rather than Facebook, the company he created and is still really the big business behind meta, despite the name change. So zuck is all in on the metaverse and also two is our next guest. Yeah, absolutely. You know, I'm not really sure what the metaverse is, but I think I'll know it when I see it. I'm not sure. But Anne Han, she knows it, and is the chairman and chief executive officer of Super League gaming, joined us on Zoom from Los Angeles. So and let's start out, particularly for the popes that are folks that are out there in their cars driving around, let's just start out really simple. To you, what is the metaverse? Yeah. It's a great question. And if you ask ten different people, you're going to get ten different answers. The way that I simply try to talk to both investors and some of our larger brand partners about is the first kind of part of the metaverse is metaverse games or what we call open world platform games. And in those games, instead of you going in and just playing a game that served up to you, you're actually given tools to create your own games and experiences. And there's no limit to what that gamified experience can be. It can be concerts, fashion shows. It can be all kinds of things. Metaverse game or open world platforms have been around for over a decade. It's platforms like Minecraft and Roblox, and now increasingly Fortnite. You don't need a VR headset And you can participate in those experiences as a creator or as a viewer or player. Right now today, hundreds of millions of kids are already there and super leagues build a pretty big footprint there. We reach 70 million unique under 18 gamers a month. And those worlds alone. So the first thing I say is big meta, maybe 5 years away, but metaverse games don't be afraid of them. They're around. That's where kids play. They prefer those types of game modes where they can be the creator as well. To traditional video games. Now that said, I do think that bigger meta is going to continue to happen faster than we think. There are companies building out the engines so that you don't just have to use Roblox and Minecraft to create these experiences, big brands, iconic IP will be able to create their own worlds and interact with their fans and gamify things and monetization around those fans. And own that full user and that monetization stream. And that's not far away. That's happening in a really now and over the next one to two years. So I think it's going to be gradual. And it personally for me, I don't know if I'll ever be the person wearing a VR headset for ten hours a day, right? That big meta vision. But what I can give comfort around is it does exist right now in these game platforms. So is it all when we think about the metaverse or big, bigger meta? Is it just with a gaming component? Is everything with a gaming component or is it the way you see it? I know you're an eSports community and content platform. So that's your world, but is it something even more wider than that? Yeah, no, thank you for that question because we do get call these sports a lot and yet we are so much bigger than that now. When we talk about those 70 million monthly players, we're talking to all kinds of people who are seeking community inside these game based platforms. But Super League isn't really just a gaming company. We gamify experiences. And so to your question, it's much bigger than that. We help Samsung earlier this year, bring Charlie XCX into the metaverse for a concert. We ran the red carpet for the MTV VMA awards inside a digital world where your digital avatar could participate in that experience, even if you don't live anywhere near New York. Did it have legs? That's all we want to know. No. Yeah. And I went in and I kept knocking the paparazzi over by accident. So if you're bad at it, it doesn't really by accident. No, no, just kidding. Well, let me tell you. And this is the real time example right now. We've had the pleasure of helping Mattel take their steps into these metaverse games. And right now, you can go into one of our game world's called live topia. And you can hang out in Barbie's dream house. We've created a three story digital version of Barbie's dream house. You can swim in the pool, lay on the chaise lounge, go hang out in Barbie's closet and try on clothes. Those are to all of us again traditional video games. That's about community. It's a digital cul de sac. It's people finding people they want to socialize with. And so Super League has come a long way because we now have the kind of reach where we can speak to the Barbie girl, the hot wheels boy, that older demo that may be a Samsung or MTV wants to reach. Because here's the reality, everybody is a gamer these days. And it's not just hardcore gaming. We tended to think about it 5, ten years ago. All right, just real quickly, what's the business model here? Do I sell advertising against this audience or charge them, subscriptions, business model? Yeah, the primary business model is that we work with brands and partners to take them into metaverse worlds that we already operate ourselves or are part of our extended network. We have several hundred a world. So when a brand like Mattel comes to us, we can say, look, here are the types of game worlds that we really think matches your target audience. Here's the experience that we think is right. And then we have some pretty special proprietary ad technology media tech and analytics. And what that means is we may have built Barbie's dream house in one world, but we have 3D barbies, characters, walking around, digital avatars, and other worlds directing traffic to it. I think in the first two weeks of Barbie, we had over 32 million visitors to her dream house. So we're talking about really outstanding numbers as far as engagement, but also deep engagement. Hanging out 25, 30 minutes at a time. And come back soon, because I'd love to get deeper into the monetization of those millions, whether it's Barbie's dream, Barbie dreamhouse, or others, I'd love to talk more with you and hand. She's chairman CEO, a Super League gaming stock though, by the way, down about 71% so far this year, it's a small cap micro
TuneInPOC
"chairman ceo" Discussed on TuneInPOC
"Learn more. Let's get to the market drivers report. Let's set that business week agenda, let's go on. I am seeing yield moving up following those fed minutes. Ben Cinderella, global macro strategist at Bloomberg news on the phone in White Plains, Yelena chalet civa, senior U.S. economist at Bloomberg economics on the phone from Long Island, New York lots to get to you guys. We're going to run through a lot quickly. Yelena, first of all, what's most important here from those fed minutes in your view? Yes, hi Carol. So I think the discussion about the balance sheet contraction eventual contraction is really interesting. There's a variety of different views, but one thing I think is clear that we will see the removal of accommodation through the showing each of the balance sheet will come much earlier than in the previous episode back in southern 17. I think it's important to note that conditions right now, economic conditions, significantly different from what we saw back a few years ago when the monetary policy authorities started shrinking the balance sheet, obviously GDP growth is higher inflation is obviously way higher. And that will warrant a significantly faster removal of accommodation via the balance sheet. But it's still unclear how they want to do that. I don't see the word asset sales in the minutes. So that means that they will probably allow a passive shrinkage of the balance sheet. When the time comes. All right, good to know. And I just want to point out market reaction because we did see yields move up following those latest fed minutes. I just want to take a quick check on that ten year now with the yield of one 69, the two year note, looking at the shorter end of the yield curve, which is about .80, now at .81, so just a little bit of a move up. And in terms of the equity markets, we're also seeing equities move down just a hair. The S&P was down about 17 now down about 24. The NASDAQ which we've really seen a lot of tech selling was down about two 20 Tim. Now it's down about two 45. Well, let's get more from Vince Cinderella, global macro strategist at Bloomberg news. Vince, same question to you. What's the most important thing we should be focusing on from the release of these fed minutes? What hits your mind? Well, I think the idea that what's really good is we're looking for going in was in recently a statement in the press conference that hikes could come much closer to the end of taper. And I think that's what we're getting out of these minutes in guttural. That looks like why the dollar is bouncing and yields are climbing. We're approaching 1.7 on the ten year at the moment. And the two years just hit the highest yield in about ten months. So it's across the board stocks dating. We've only got about a dozen points in the green for the Dow, all of the other major averages in the lead. Does it look like that's going to actually hold going into the end of the day? The markets in general have just gotten your idea around this fact that I was always surprised what I took so long. That fed is going to have a potentially three rate hikes and potentially four next year. Depending upon the recovery and depending upon how fast the variant passes. And we're just seeing it in pricing finally catching up to the theory. Right, exactly. We've seen that trade certainly in the treasury market. And you mentioned one 70. It does look like we hit one 70. On that ten year node, and it's just right at it. And again, that I'm looking at the two year discontinuing decline. Which makes sense. The shorter end of the yield curve. All right, so gosh, really quickly, Yelena 20 seconds. What does this mean for the jobs report? What should we be thinking about? Well, I think in the jobs report, we will be looking at the unemployment rate and basically how quickly we are approaching full employment. I think it's important to know that I think therefore and see really things that we are right or very close to that point. So I think that's an important one. Maybe even more important than the pace of payrolls. All right, good to know, guys. Wish we had tons of more time. Thanks. Yelena should let you out and Vince ignore. Let's do the Bloomberg business week by the day. It's one number that tells us a lot. Today's number is 10 billion. Yep, one of the richest gaming billionaires has had one of the world's biggest wealth plunges, force law. He's the chairman CEO of C limited, has lost 10 billion of his fortune since the ADRs of the company peaked back in October according to the Bloomberg billionaires index. The latest blow coming yesterday when Tencent Holdings cut at stake in the gaming and ecommerce giant driving the stock to its worst lump in almost two years. Folks, we are seeing an impact certainly in those yields. They are climbing, climbing, and climbing. I'm looking at that ten year note. It is definitely above that one 70 Mark. All right, more on that in a few minutes. In the meantime, I checked the latest world of national news with Nancy Lyons in Washington, D.C., good afternoon, Nancy. Thanks, Tim. The labor gap that the U.S. is experiencing is now expected to last long after COVID is gone. We get more on that from Bloomberg's Amy Morris. Job reports show a shrinking labor force with potential employees kept on the sidelines or retiring early. Bosses desperate for new hires are driving wages up and giving inflationary officials at the Federal Reserve, something else to monitor. And now we're learning that these labor shortages will likely persist a combination of slower population growth inside the country and fewer migrants arriving from outside show that companies could have trouble filling entry level jobs for years to come. In Washington, I'm Amy Morris Bloomberg radio. Authorities say 13 people died, including a number of children this morning in an apartment building, fire in Philadelphia. The blaze happened in the fairmount section of the city, Philadelphia mayor Jim Kenney calls it tragic. Please keep all these folks and especially these children in your prayers. Losing so many kids is just devastating. Kenny calls it one of the worst days in the city's history. Attorney general Merrick Garland this afternoon will be providing an update on one of Washington's worst days. Garland will discuss the Justice Department's investigation into the January 6th insurrection on this the eve of the year anniversary and announcing the address the department says in a statement Garland will update the American people on the department's efforts to hold accountable those responsible. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than a 120 countries. I'm Nancy Lyons. With three bright minds thinking of questions. How far apart are the two Americas right now? Someone's bound to ask the one you most want answered. What defines that as the year goes on? Tom Keene, Jonathan farrow and Lisa Abramovich. How do you explain the fact that you have not seen a cheer from equity traders? Bloomberg surveillance? Will that occur within market stability? Weekday mornings at 7 eastern on Bloomberg radio, the Bloomberg business app and Bloomberg radio dot com. The possibility of lung cancer can be pretty scary, especially if you're one of approximately 8 million current or former smokers at high risk. That's why saved by the scandal wants you to know that now there's a breakthrough low dose CT scan that can detect lung cancer early, and it only takes 60 seconds. You stop smoking. Now start screening. For an easy quiz to see if you're eligible, visit saved by the scanned dot org. It could save your life. Saved by the scan dot org is brought to you by the American lung association's law enforcement initiative and the ad council. In depth analysis, concise reporting need to know global business news. Around the world and across the markets, Bloomberg connects the dots for decision makers. Stay on top of today's headlines, follow big breakthroughs in tech, understand the latest political issues. See how the world's wealthiest are spending their money. Track what's happening in the markets and much more. Subscribe to day to Bloomberg the global standard for business reporting. Get it all in Bloomberg dot com slash subscriptions. Right now, our country feels divided, but there's a place where people are coming together. I was nervous to talk to someone so different than me. Me too. Love has no labels and one small step are helping people with different political views, beliefs, and experiences connect through conversation, and it feels good. This conversation gives me hope. It gives me a lot of hope to. Take a step toward bringing our country and your community together, start a conversation at love has no labels dot com slash one small step, a message from story core love has no labels in the ad council. The world's financial decision
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"Card was very close to what it should be relative to prior performance And then current month November was just closed to spend on the card was 22% higher than it was in November of 2019 Even though that we're still not all the way back So customers are investing in our brand even if they're not ready to travel because they're getting ready to travel See what comes next for the card Are there plans to enhance the card Well look we've got a long term relationship Our deal runs all the way Runs all the way out probably beyond our tenures which is great And so what we're able to do is we're able to invest from a long-term perspective We don't worry about renegotiation We don't worry about what tomorrow We look at the medium to long term How do we integration to ecommerce path How do we put more value on How do we go after more small businesses And I think that's going to be really important to growing this portfolio Everybody wants to know spending Whether it's retail or whether it's travel What are you seeing So what we're seeing is overall on a quarter day basis overall spending is up 11% But goods and services spending is up 24% And our retail spending from a consumer perspective on a global basis of 30% quarter to date Wow That was a big numbers They are big numbers We are here with Steve squarey He's the chairman CEO of American Express as well as Ed Bastian who's the CEO of Delta So Ed come back to you a moment You're running a very big company just about every big company in the country right now is facing issues of inflation of supply chain challenges and also labor shortages Tell us how it's affecting delta right now Fortunately because we're not all the way back we haven't been hit to the extent that others have been So it has a good strain our ability to restore the business Yes we're getting some cost pressure in a couple of areas We've hired 9000 people at Delta as we brought the business back up again We have had really no challenge in locating people or a great hierarchy I've been had to increase scales having that people want to come work for us including pilots including pilots And when you think about where we're headed over the course of the next year we're profitable for the second half of this year Only airline only major airline in our country that's profitable Meaningfully more profitable And I think there's only two majors in the world that us in the Koreans Korean air that are profitable over that same period But next year is our recovery year but it's not going to be a recovery in terms of still the growth We're going to be growing We're going to be profitable I think we're going to be meaningfully profitable And I put a marker out there for investors I think by 23 we could be falling back I see you today has omicron Delta the pandemic to deal with as well as inflation and uncertainty to market starting with you Steve how do you deal with those issues Because there's a lot of uncertainty and they could affect your business rather materially Yeah I think you've got to be agile you've got to be open to making change The decision that you may make in the morning maybe a different decision We saw this in a pandemic that you make in the afternoon And I think you have to have confidence in what you're hearing from your employees what you're hearing from your customers And you just ultimately you go with your gut That's Delta CEO Ed Bastian and MX CEO Steve squaring Coming up GM's Mary Barra shares her view of an electric future That's next on Wall Street week on Bloomberg At.
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"The chairman CEO of American Express as well as Ed Bastian who's the CEO of Delta So Ed come back to you a moment You're running a very big company Just about every big company in the country right now is facing issues of inflation of supply chain challenges and also labor shortages Tell us how it's affecting delta right now Fortunately because we're not all the way back we haven't been hit to the extent that others have been So it has a good strain our ability to restore the business Yes we're getting some cost pressure in a couple of areas We've hired 9000 people at Delta as we brought the business back up again We have had really no challenge in locating people or a great hierarchy I've had increased scales having that people want to come work for us including pilots including pilots And when you think about where we're headed over to the course of the next year we're profitable for the second half of this year Only airline only major airline in our country that's profitable meaningfully more profitable And I think there's only two majors in the world that us in the Koreans Korean air that are profitable over that same period But next year is our recovery year but it's not going to be a recovery in terms of still the growth We're going to be growing We're going to be profitable I think we're going to be meaningfully profitable And I put a marker out there for investors I think by 23 we could be fully back I see you today has omicron Delta the pandemic to deal with as well as inflation and uncertainty to the market starting with you Steve how do you deal with those issues Because there's a lot of uncertainty and they could affect your business rather materially Yeah I think you've got to be agile you've got to be open to making changes The decision that you may make in the morning maybe a different decision We saw this in the pandemic that you make in the afternoon And I think you have to have confidence in what you're hearing from your employees what you're hearing from your customers And you just ultimately you go what you got That's Delta CEO Ed Bastian and MX CEO Steve squaring Coming up GM's Mary Barra shares her view of an electric future That's next on Wall Street week on Bloomberg And.
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"The commodities front WTI crude oil is lower just over $71 per barrel gold is higher in 1815 and ounce Bitcoin It trades lower just over 50 or $47,000 per token Let's get some more color on the equity markets pre market with Bloomberg markets correspondent Credit Gupta Pretty what are you looking at Yeah Paul let's just start off with the good news here 'cause I think we all need some good news and let's just start off with FedEx beating their estimates FDX your taker up 6% in the pre market This comes after the shipping company boosted their outlook driven by their express unit Remember FedEx has actually stayed far above their peers when it comes to hiring ahead of the holidays as well So those easier labor worries also helped boost the stock as well as raising their prices and focusing on smaller shippers that don't get those big bulk discounts Once again FDX is your ticker up 6% in the pre market moving on to some potential deal news looks like the deal activity has not died down yet ahead of the holidays Medical records company Cerner shares jumping a whopping 16% to your CE RN amid reports of talks for purchase by oracle O RCL as your ticket those shares down 6% in a deal that could be valued at $30 billion It would be oracle's biggest deal ever if it comes true Barclays saying the deal though only shows a modest premium of 20% We gotta go to the BioTech news as well CDC backing Pfizer and Moderna as the main COVID vaccines over J&J shot J&J shares down 2% in the pre market J&J is also the ticker The FDA also adding a blood clot warning to the fact sheet for the J&J vaccine Remember women's age 30 to 49 at the highest risk of those clots So J&J under some pressure this morning I want to move over to Biogen Take your This is a BioTech company of course down 1.6% after a key European authority issued a negative opinion on Biogen's controversial treatment for Alzheimer's disease dimming the hope for marketing the drug in the European Union So some not so great news out of the BioTech sector Paul I want to move on to some HR news I think HR news What did I do wrong now Not Tom this time it's General Motors sticker to DM down two and a half percent following after saying they're cruise CEO is going to leave and get replaced by their cruise president and chief technical officer that will serve as the interim CEO They're also adding four order north of Grumman CEO to the cruise board and they're not alone in making some of those changes dart in restaurants as well A DRI is your ticker down 4.6% saying it's chairman CEO Eugene Lee junior will retire a CEO effective May 29th 2022 and be replaced by their president as COO of the company Ricardo cardena So that's very much moving both stocks both down in pre market trading Should I wrap it up your palm You want to know some more Yes About those upgrades I mean those analysts just aren't slowing down here Credit Suisse raising the recommendation on 6 flags entertainment SI X is your ticker up 2% This coming to an outperform from a neutral with a firm sighting a compelling risk group Have you ever been to great adventure down in New Jersey 6 flags great adventure I have not but you know I say school trips to 6 flags all time as a kid and I hated it I do not do roller coasters But nevertheless a very thriving company and that seems to be even doing so more according to Credit Suisse Good stuff Thank you 6 flags great adventure I went there in high school a couple of times but that's about it But they put these monster roller coasters there now that are just awesome I'm thinking about going maybe I'll bring Tom My only.
77WABC Radio
"chairman ceo" Discussed on 77WABC Radio
"Folks Joe Biden has done nothing Nothing To add to our arsenal of medicines to fight this virus Nothing He hasn't announced an operation warp speed He hasn't put anybody in chart Nothing He keeps saying when I came into office only for me but people were vaccinated It's because the vaccines it just come out More of the lies and the lack of virtue just lie over and over and over again This is why people like me say talk to your doctor your personal doctor Get the facts from your own doctor And if you want my opinion if you don't have some kind of underlying malady then get vaccinated But I've said over and over again there's a difference between supporting vaccinations and supporting tyranny There's a big difference People who are unvaccinated if they have to be that situation because of underlying maladies well why would they get vaccinated if it could harm their health And if you've already had this this viral virus and you have natural immunity why would you get vaccinated If you don't want to get back why do I care And I'll say it again So what percentage of the population is it What percentage When you add the vaccinated to those with natural immunity to those who can't take the vaccine because of a malady what percentage of the population are we actually talking about Nobody will tell us Nobody
MAD MONEY W/ JIM CRAMER
"chairman ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Down so as this thing. Come down enough to be tic- in a tough market. It's your has been the case. Let's take a closer look into. Ryan is the chairman ceo of adobe. Learn more about the quarter and what he's going to drive dry back man money. Thanks a lot for having me. Jim great to be back on your show. Oh it's great to see you gotta tell you i'm gonna i don't want to bury the lead. You said right at the end before the way we are clearly on track to exceed or updated annual targets for fiscal twenty thousand. There were just provided in march. Isn't that the real story of this quarter. It absolutely is jim. Executing and across all our growth initiatives. When you talk about what's happening with content and people creating way more content and the personalization need for that everything that's happening with respect to automating documents and the relevance and importance of pdf that and as it relates to customer experience management as you point out enabling companies to have a digital presence and commerce wherein all those three growth opportunities as market leaders. So we feel really good about the quarter. We feel really good about the. But i think more importantly feel even better about the future walk. I've got to tell you. I think people who make these snap turtles the headlines. They should reese who you have. I mean keep partnerships and good at walmart and pay pal nike and facebook ford and honeywell. Cvs i mean. I don't know people want to talk about the guys. I love and soda. You guys just shut up before because they have a lot of three four and five person companies that do business but these are the marquee clients. How are you able to consistently get the nikes and the force of the world to come to a dope. Well i think what we did better than everybody else. Jim was to really say we had this vision for what we had to do to enable any business to engage directly with their customers and this had to do with digital presence that had to do with the data and insights how they're.
MAD MONEY W/ JIM CRAMER
"chairman ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Be behmen etcetera so that simplicity allows us to continue to build long term partnership with ourselves to that simplicity and our sharp focus on community has been there from day one for for example. Both we do have to stop there kind of cut out there. But look minnie's. I think there are a lot of things that went right and something went wrong to stay tuned to the stock. That's the only thing we can do. Many schaja posh mark founder chairman ceo. I thank you for coming on the show. Thank you for having me actually op midlands back after the break jaws chill chill man is in the house. He's happy binding around is coming up when bad bunny returns. Ira and then the leading renters are. Are you ready. Get in your mic. Michelle how're you doing. I want to talk about my talk. Zillow dallying twenty percent for the year. It's doing quite well. Actually think is. He's leveled by with more rate so low. Anything jim in your jam. Jim how you doing today. I am doing well. Thank you how about you doing good. Just can't wait to beat this virus. my stock is I is vile haven pharmaceuticals. This morning i had a migraine could beat the fan. And i said myself okay. What's going to see me. I put myself a new attack. From bio haven. Bad boy was going and fifteen minutes. Do you think. I don't think the evan isn't the best buy i know. Somebody downgraded yesterday. They never had a migraine clifford. Colorado quell jim. Cramer angry man. How you doing. I'm doing well how about you. I'm doing well sir. Thank you i am calling about tickers. Eeze lightning voters. I think you had it. That was the game. Yesterday was one in the being yesterday or not be in at all manual in florida manual. Got since we are taking my call. So i noticed basis crowded but with earnings coming up. What are your thoughts on sumo logic. Oh my god you said and our viewers you're smart that is crowded space in the world. I'm tired of cloud based management and analytics. You see finally finally finally went up and up anyway. I like snowflake in that area. Let's go to fill in tennessee. Phil jimmy jail for tom. Plus home rock and roll tennessee. Indeed so much talk is a infrastructure as that just recently joined the russell three thousand. I wanted to house the. Ats is had a.
IT Visionaries
Analyzing the Impact of a.I. And Technology on Society
"Welcome everyone to another episode of visionaries in today. We're continuing our security series with casey ellis malcolm harkins. This topic is going to be about the impact of technology on society and cybersecurity. But i do these gentlemen a disservice by not letting them introduce themselves casey. Let's start with you. Tell audience who you are. Where do you work. what do you do and we'll kick it over to malcolm. Thanks it's got to be on gregg giannotti about malcolm as well but i'd say yells is cold out this out again from the founder chairman. Ceo crowd basically about crowd. What we did was to introduce the concept of connecting the white community like the crowd of creative individuals insecurity questions waiting at the table. I think at this point in time for a number of decades that have been disconnected from that. Need help you know. We started off that industry back balsa. That's commonly referred to or known as as as any programs abilities pleasure organs in interest with with finding also Otherwise hike advantage of that results and the problems that existed yet. That's that's what i do. And that's why i'm here malcolm. How would you introduce yourself. Thanks in great to be on with Both you albert and casey. So currently i'm a board member advisor coach mentor dabble with a lot of security startups in a few others in the industry. Prior to that. I was chief stood in trust officer with the web. Application skirted defense platform company for a little over a year prior to that is chief skirting. Trust officer would silence and then prior to that. I spent my life at tall. And i was chief security. Private privacy Also spanned the wide ranges of fun neglected
MAD MONEY W/ JIM CRAMER
Hasbro, Mattel Say Toy Boom Isn't a One-Off
"Last night. We got a terrific from the tell. That's the iconic toymaker. What happens the soccer name. No kidding it actually said because day reminding. Managers found hard to get excited too worried about the ready crew. Gresley bidding up the canvas stocks. But make no mistake. Mattel's doing great. Ceo on crisis orchestrated effort. -nificant turnaround here. And let's have got yet another confidence-inspiring aspiring quarter. The country poorer top and bottom line with bush guide for twenty twenty one in response suck actually spiked. Three percent in early trading. Getting dragged down by the on weeds. What i'm calling the rest of the market. So could this really have room to run. Let's take a closer look with you on crises. The turnaround orders chairman. Ceo patel real. These results michigan. Welcome back demand money. Jim it's great to be here in on your manager word when things weren't doing waste things weren't doing well when things that down very low you said things are starting to get better. This was the finest fourth quarter in fifteen years despite a worldwide pandemic. Talmadge do it. Yes jim this was an exceptional quarter for mattel without best performance in years with strong consumer demand and another milestone near for the company for the second quarter in a row which have double digit sales growth without grace. The industry in gain share on a global basis but are results excited expectation on many levels with the highest fourth quarter growth in fifteen years as you said with a significant increase in profitability with a full year operating income. That was two and a half times higher than than last year. But this is not just about the quarter or the year. It's about a multi year strategy that is tracking very well which puts us on in a strong position to continue to increase profitability and etc growth. In two thousand twenty one and beyond what i liked about it but these were all fantastic numbers but you told me one day jim this company which has terrible cash flow can make fortunes on everything that it does put out so when barbie has a plus eighteen percent quarter number one toy property globally in twenty twenty doll- but boy you're making a lot more money off each barbie even though they're more interesting fascinating diverse inclusive than any of the line. At that i've ever seen as we made significant progress improving. Our ability. Gross margin has increased for the tenth consecutive quarter. And this is only getting better and stronger in terms of cash flow if you look at the journey that we've achieved last three years. Gross margin improved over. Eleven hundred points are cash flow improved by almost five hundred million dollars and our operating income is up more than six hundred and fifty million dollars so very strong performance on the bottom line. And we're making good progress on the top line as well. This was the second quarter in the row where we improve our top line by double digit. You're making it look easy. There was a time. When i first met who. I looked at your balance sheet and i question you're you're not your visibility your viability. The viability certainly taken off the table. Visibilities take off the table. At this point. I now have to wonder. You've got this great balance sheet now. I mean really is you've delivered. You have the number one of the industry you ever. American girl turnaround. Is it time to do something. Even were used something. The entertainment industry that you used to be king of come on free cash flow has steadily improved over the last three years we went from a negative three hundred and twenty five million dollars in two thousand seventeen to a positive one hundred and sixty seven million dollars this year going forward will will be focused on converting an increasing percentage of our ebitda into free cash flow and as we've previously stated we intend to utilize cash to reduce our debt and improve on balance sheet even further given the expectation for higher and more asian of cash. We expect to Continue to reduce our leverage ratio. And make our way towards an investment grade rating.
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"Bloomberg Quick takes Tim instead of it from Bloomberg radio. Okay, so before we were talking about the price of game stops stock every day, we were doing the same thing with Big corn. Carol Remember, it ran up 305% in the last year, and it's a rally again this year. Yet Remember in December. It's like every day. It's like, Okay, Here's where Bitcoin is. Here's where, you know, moved in the last day. And this week, Elon musk support for Bitcoin and a record run up in ether help take the market value of digital tokens to an all time high. Which is why one listener said to me, you have got to get on Michael Saylor, chairman, CEO and founder, MicroStrategy who has been as we know Tim buying a Bitcoin in the last year or so. He joined you along with Bloomberg Intelligence Commodity strategist Mike McGlone, who covers Bitcoin. Michael Saylor began by talking about his holdings and that buying spree We've invested all of our free cash and we've borrowed $650 million, so I don't know 200% of our balance sheet. Something like that, But But we're up about 1.2 billion since we started buying so So we have a lot of Bitcoin in terms of our strategy. We were buying it a 10,000. We're buying it at 11,000. We bought it in 19,000 and 21,000 and 31,000. I announced to the world that we bought our last batch of $10 million worth of 33,800. I think we'll be buying it forever. Forever. What? Where do you see it going? Quiet. Well, yeah, we know we do You like it? Where do you see the value going? We've had, you know various guests. Come on and talk about a quarter of a million dollars. Where do you see it.
Bloomberg Radio New York
"chairman ceo" Discussed on Bloomberg Radio New York
"And Bloomberg Quick takes Tim instead of it from Bloomberg radio. Okay, so before we were talking about the price of game stops stock every day, we were doing the same thing with Big Coin. Carol Remember, it ran up 305% in the last year, and it's a rally again this year. Yet Remember in December. It's like every day. It's like, okay, Here's where Bitcoin is. Here's where, you know, moved in the last day, and this week Elon musk support for Bitcoin and a record run up Andy Thor help take the market value of digital tokens to an all time high. Which is why one listener said to me, you have got to get on Michael Saylor, chairman, CEO and founder, MicroStrategy who has been as we know Tim buying a Bitcoin in the last year or so. He joined you. Along with Bloomberg Intelligence Commodity strategist Mike McGlone, who covers Bitcoin. Michael Saylor began by talking about his holdings and that buying spree We've invested all of our free cash and we've borrowed $650 million, so I don't know 200% of our balance sheet. Something like that, But But we're up about 1.2 billion since we started buying so So we have a lot of Bitcoin in terms of our strategy. We were buying it a 10,000. We're buying it at 11,000. We bought it. 19,000 and 21,000 and 31,000. I announced to the world that we bought our last batch of $10 million worth of 33,800. I think we'll be buying it forever. Forever. What? Where do you see it going? Quiet. Well, yeah, we know we do You like it? Where do you see the value going? We've had, you know, various guests come on, and Talk about a quarter of a million dollars. Where do you see it.
Squawk Pod
Buffett on Small Business: Its an economic war
"Berkshire hathaway chairman and ceo warren buffett. He joins us on the squawk newsline. Also david salomon. The chairman ceo of goldman sachs goldman by the way is announcing a two hundred and fifty million dollar donation to establish the next generation of the ten thousand small businesses program. Gentlemen thank you both for being here and warm. We'll start with you. You have not spoken publicly since the last annual meeting of back in may for berkshire hathaway. You weren't planning on speaking publicly again until the next one this coming may. Why are you taking time today to talk about this issue right now. Well i think it's it's it's so important that small businesses which of become collateral damage in a in a war. That are our country needed. The defied but We'd in effect bomb charlie At an induced shutdown of parts of the economy hit many types of small businesses. Very very hard and We made some provision for that and march in terms of the cares act but then nobody really knew how long the Now this self inflicted Recession would would last with this particular effect on small businesses so We need another. We need another injection to To complete the complete the job and congress's debating right now and i just hope very much that they extend the p p. A plan on a on a large scale to Let the people who may see the of the light at the end of the tunnel. Get to the end of the tunnel but So it's it's very timely. It's very important and And i do think congress will do something. And i hope they step a very soon because every day is important make people wonder why would bid business. Leaders are are stepping out and speaking on behalf of some of the small businesses. What what is it that concerns you about this. Why is this an issue that you're you're really putting yourself out there with well. Big businesses generally a gun very. Well not the if. They were traveling. Entertainment related days. They still have difficulties but The fed did a terrific job. The they saved us from something that would have been a lot worse than two thousand eight nine When they acted in march so large companies who in the middle of march early march were were going to have no access to capital The market just open wide and the corporate issuance was huge but the small businesses Received some help. But it's not getting to the end of not getting to the end of the tunnel and You know you'd say it's situation. Just take food food manufacturers. The big names Done terrifically people haven't quit eating you and and And the large grocery chains have done very well margins wine salesmen. Good but if you had to get your food And i small restaurant or medium size restaurant and and social distancing was required. Everything you just. You just killed the economics for somebody that may have been working for decades with our family to build a business and reinvested their earnings and improving their their establishment and then Through no fault of their own and edict comes along that That kills all their dreams. And it's it's it would be so foolish to The not follow through on this and enable those people to get back to where they could Do the kind of business they were doing before you know it. it it. It's an economic war and and And certain you know when we wanted to world war two a lot of industries were shut down and and Everything went over to the defense production. Well we've shut down a lot of people in this in this particular Induced recession and and others are prospering. At and i think that the country owes it to the m really millions of small business people. And i've met a lot of these people through the goldman sachs program just renewed ppp. And and Get us to the got us. The end of the tunnel.
MAD MONEY W/ JIM CRAMER
Chevron CEO says company is embracing, investing in a lower carbon energy system
"What's best performing sector since election day. You'll never believe it energy and we talked about energy. I mean fossil fuels with multiple co vaccines. Right around the corner. The economy will soon be able to reopen which means more demand for oil and gas ray of yours. No i'm not a fan of this industry anymore. I think the long-term press but posthumous have gotten grimmer but there are two fossil fuel stocks that i still consider investable one of them is chevron the big integrated the king of the oils the best of the best chevrons held up surprising well during the pandemic. And it's got a powerful safe dividend of five point seven percent. The only problem the stock is now thirty five percent in the last six weeks. So kennedy keep climbing. Let's take a closer look with mike. He's the chairman ceo of chevron corporation. Get clear picture of the industry and his company said mr. Moore's welcome demand money jim. It's good to be with you all right so you got to solve this for me. As long as i've been in the business always one company that was the best and it wasn't as yours. It was a company called back son. There are a lot of others that were doing. Well now they're chevron and there really is everybody else everybody else being companies. I'm worried about the dividend that article in production. That aren't conservative. What happened to chevron at the other guy should have listened to well jim. Different companies have made different choices as As we came into this and as as we've gone through this so have changed their dividend policies. Some of changed their strategy. Some of change their financial priorities. We haven't our dividend to secure as you mentioned are balance is strong our strategies are intact and there's no they can count on us so we were we were well prepared as As we went through the cycle. And i think that people realize that we've been constant at a time when many others have changed. Now you'll have when it's necessary been aggressive for instance. You were very aggressive in the gulf of mexico drilling wells that are going to produce oil for year. They don't run out those wells. I mean that's just something that you did. Everybody else went away from it. How did she have the dish do that. Jim it's a long term business. Demand for energy in the world is enormous seven and a half billion people on the planet today. By twenty forty there will be nine billion in all of them deserve the things that affordable reliable energy can provide. so we've got to take a long view on investments and at the same time you've got to take a short view in terms of being prepared for markets that are very volatile and unpredictable. So it's an and world actually have to do both. We have to look out the front window. Twenty years down the road and we look out the window of the house today and see what's going on the world today and manage our way through both of those. Let go out twenty years. You bought a company called no one. None well terrific. I visited leviathan. It's an incredible field in metro. Train off the coast of israel. I could see a visionary saying you know what it's time to disenfranchise gas prom company bringing its gas to the west and make it. So there's a pipeline from israel all the way up through central europe and that could be something that's a twenty five year project pie in the sky. Well that's certainly one of the opportunities to commercialise. What is a large gas resource in the waters of the eastern mediterranean office. Real right now at feeds markets in israel egypt and jordan their opportunities to take liquefied natural gas to other markets and certainly longer term. These types of resources often lend themselves to infrastructure developments to feed market. Europe is not not far away so those are all options to commercially develop that resource and supply markets in an affordable reliable manner. So that that's the type of thing that our company does really well and it's a long term view that we have to have to sustain our company at the same time. I've noticed that you need to be able to have common ground with whoever's in the white house. I'm not going to try to say you have to do this do that. Because you're reasonable person. Have come up with it. But if you have a really aggressive. Climate change president and team. Is it perhaps possible that they make it. So that you that you're not able to enjoy your own properties. Well jim we've been in business for over one hundred forty years we've worked with republican administrations with democrat administrations with split government with unified government. And we always start with common ground. Government wants economic development and prosperity for its people and governments want a cleaner environment We look for the common ground and there's always common ground because we're critical part of the economy. We may not agree. One hundred percent with any given administration on everything. But there's usually much more we're aligned on than we're different have different views on and then we sit down at the table and we work our way through those things. We've got different points of view and that's exactly what we expect to do. with this administration and every other one that follows but mike how do you sit down with fund. Managers younger financials. You say you know what we're about trying to be carbon neutral even make it so carbon negative so to speak so chevron can never be a holding embarrassed and better. How much do you think that works good. And they have great dividend policy. We can own what happens if too many managers start thinking that way. Well jim what managers really want out of our industry and out of our company. It's better returns and boil our strategy down to four simple words. Higher returns lower carbon. And we need to do both. And we need to find ways to invest in things that are good for shareholders and also good for the environment if we do just just invest and things are good for the shareholders and ignore the environment. That's not sustainable. And if all we do is invest in things that have an environmental case and they don't create value and returns for shareholders. That's not sustainable. Either so we sit down with portfolio managers of all ages and all levels of experience and talk about how to deliver higher returns and lower carbon That's what people. I think that's been investors are looking for well. How about another way to look at it. Some people feel jim. Do not see the future. Do you not see tesla. Do you not see the hydrogen fuel cells. Judah there's no room in portfolio because it's going to happen fast than you think you think the demands big al twenty thirty years. Probably the way. I too but they feel no mike they feel. It's gone away. Fashion than you. And i think and that has caused me to pull in my horns about a group i really like. Would you have we embrace a lower carbon future. We expect lower carbon energy system. In fact the energy systems always been moving towards lower carbon hundred. And fifty years ago cole came along a displaced would eat and then you had oil and gas and then you had nuclear hydro wind solar hydrogen now. The energy systems always been in transition. And we're investing today in. I'll give you an example renewable natural gas if you've ever driven by dairy farm or a feed lot. There's there's a certain aroma that you you may recall We're actually capturing the waste products from dairy farms now fermenting the those products to create the natural gas product cleaning it up moving it into a pipeline so it can displace fossil fuels so we reduce methane emissions and we create a salable renewable product. So we're investing in things like that. We're investing in nuclear fusion. we're investing in hydrogen. We're investing technologies that can scale and make a real difference and be part of a carbon energy system. This is the history of our company. And i believe it's the future of putting a hydrogen fuel cells all of your incredible gas stations. How about making that statement saying to the rest of the industry and all the espn enthusiasts. Look we are doing something right now. That's economic but it is gonna kill it in the five six years you could do that. Might your this and you've got the balance what we're working on these kinds of things. Jim we come back to. It's an world we've got to have higher returns and lower carbon and so we've gotta find things that work for shareholders and work for the environment and that's exactly what we're working on so i think i think you're going to see our company and you'll see others in our industry that continue to find solutions and this is a challenge that is too big for any one company anyone industry or anyone one country in the world to completely address We're gonna work in partnership with others and continue to advance the you know the state of the energy system which will only grow. Well mike. you've always been the you've been the voice of reason. Your company's been the scientific company all along people should know that chevron has always had the most scientists and engineers at the top might worth chairman. Ceo of chevron sir.
Stansberry Investor Hour
Millions of farm animals culled as US food supply chain chokes up
"Tyson chairman. Ceo Tyson Foods wrote a letter on Sunday and he basically alerted the country of an impending shortage of meat and by Association. We just took this as an impending shortage of food because we can affect the production of meat can affect production of all food right. And I'll just quote you one little passage. That kind of sums up the the problem here and Tyson wrote farmers across the nation simply will not have anywhere to sell their livestock to be processed. When they could've fed the nation millions of animals chickens. Pigs and cattle will be depopulated because of the closure of our processing facilities and quote so these are essential businesses. These meat processing facilities. But they're closing them because people are getting the corona virus. They're getting sick so they had to close them and they closed a bunch of them. So you got all these animals that are mature and ready for slaughter and there's no place to send them. So what do they do? Well depopulated is you know. There's all these euphemistic terms youth Asian and depopulation. They kill them without eating limits. What happens there wasted and you know I I mean I have a soft heart for animals. I'm no vegetarian. Okay but we bring these animals into the world and raise them up and care for them so that we can eat them and it's tragically sad to see them killed without being eaten. It makes their lives. You know it's like they lived and died in vain. I watched a Canadian farmer on Bloomberg TV Monday morning openly emotional talking about this and talking about having farmers having to euthanize thousands of animals at a time. It's it's terrible. He was more concerned was more than just the lost revenue and investment. Although that's you know that's a big impact too. It was just the thought of all these animals as I say having lived and died in vain. It's it's heartbreaking you know and these are essential businesses and yet they're still having to close down because people getting a virus and Tyson said. This is the thing that got me. He just said the food supply chain is breaking. The food supply. Chain is breaking. That's scary you know you and I were know. We're big time investors or whatever. We got plenty of money in our 401K's or wherever you know we got resources we can tap and if things cost a little more expensive we can probably still afford it but poor people who don't have anything to their name. They won't be able to afford and they won't be able to get. Those supplies will be gone from the stores. Anybody you can get. It will pay a fortune and people are going to start getting hungry. I I'm afraid you know. At first people will say OK. Well here I am poor. I don't have a penny to my name. Put yourself in their shoes. What are they going to do? They're going to be like I'm GONNA steal this. I'M GONNA get food any way that I can. That's bad enough but my fear is that this goes on and on and on and the government doesn't let us go back to work soon enough and then we start seeing like mass violence. You know.
AI Today Podcast: Artificial Intelligence Insights, Experts, and Opinion
Interview with Colin Angle, Robotics Luminary, Chairman, CEO and Founder of iRobot
"Hello and welcome to the today. Podcast I'm your host Kathleen Walsh and I'm your host Schmeltzer. Our guest today is Colin Angle. Who is the chairman CEO and founder of I robot and in Luminary in the field of robotics so high Colin? Thank you so much for joining us today. A great to be here. Welcome Colin and. Thanks for joining us. We'd like to start by having you introduce yourself to our listeners and tell them a little bit about your background and some exciting things that are going on it. I Robot Short so I'm Colin Angle the CEO Chairman and co-founder of I robot. This is actually a robot. Thirty th year. We were founded back in nineteen ninety a startup company with the mission to really deliver on the promise of robots and we'd been I grew up reading robots. We all some movies about robots. I really didn't have any in our lives on a daily basis and I robot was founded to go and change that and over the years we've been involved in everything from missions to Mars to robots. That went into nuclear power plants. Robots that diffused bombed. But we're boost well known for the room. The robot vacuum cleaner as the first real practical robot that people could just generally own excellent. You know and I think that's part of what's popularized robotics and people are very sort of become more intimately familiar with robots today in the Twenty Twenty S. Surprising that I wrote has been around for thirty years. I'm sure for you. It feels like yesterday for a lot of us who have been around a robot. It's certainly feels that way. And you know. Crow bots have been in constant development for many years for the past sixty plus years even beyond that no longer than than six years and there have been a number of notable successes of course. I robot included and they're also have been some you know troubling starts. Nobody's who are built robotics and tried to build robotic firms. Even some of the big luminaries in this field. So what do you see as the current state of the robotics industry as a whole and what do you see as make some companies successful in this industry and perhaps even to another extent here like what do you see? Some of the roadblocks that are facing widespread adoption of robots in our daily lives in the home in the office. And how far away are we from achieving this ultimate goal? I know it's a lot of parts to this question but just crafting the vision for where to go straight there. You go sure so. I mean robotics tool kit so it's a technology which allows you to go and there's different parts toolkit perceive information about the world use artificial intelligence to think about what you've been able to perceive also in the tool. Kit are the use of computers and microcontrollers to drive motors and actuators to allow machine to do physical work. And this is a really cool tool. I mean you can build machines that you could only dream of the challenges of course finding an application of robot technology where you're really solving a problem. People care about and we've been told all throughout our history that there was an expectation that robots were supposed to clean your home and the idea that you could maybe build a robot that couldn't vacuum which is a subset of cleaning the entire home. But it's a very important part and you could come home every day to freshly vacuumed home and particularly if you have pets well you need to vacuum every day or live with pet hair. Neither of them are particularly exciting options. And the Roomba offered practical solution and because we had a lot of experience in building robots that low price point and using smaller microprocessors to understand the environment sufficiently to go backing thoroughly and completely it all made sense and you had a robot which was both affordable and effective and were well up over twenty five million of these robots sold the Dayton about twenty. Five percent of money spent on vacuums is now spent on robot vacuums which has just been an amazing phenomenon to have start with an idea on a piece of paper and have it turned into reality. Yeah that's I mean. One that that stat is really interesting and also. I think that it's made people more comfortable with robots in their house. You know it's just it's just doing one task and doing it well and not really getting in people's way and getting them familiar with robots. So I know that you've recently wrote a piece about autonomy is not intelligence and we really liked tat because we always say at cognreznick that automation is not intelligence. And I think that sometimes people can confuse the two but they're really not the same so can you break down for our listeners. And explain what you meant by that sure so autonomy is usually where working robot start where the idea is. The robot hasn't task you know go out and vacuum four and then go back and recharge yourself but if you can't direct the robot if you can't interact with a robot it's really not that smart. Imagine if you went to your life unable to listen or interact with anyone else and you just sort of maybe add some instinct on how to survive. But I don't think many people would think you're very smart if you couldn't talk with them and take direction and give direction so what we're trying to do is expand the utility of the robot and expand the ability of the robot to fit into people's lives by working at increasing its ability to interact and understand and take direction and demonstrate that cares about the environment and treat. The environment is operating in a very careful fashion and through doing this. You go from device. That can't listen and can only do what it was programmed to do at the beginning to a device. That really can learn about how it's supposed to do. Its job and that's opens up not just the world of better vacuuming but vastly richer world of tasks that robot can suddenly take on. Yeah that's actually a really good point because you know pretty much anything that people think about what humans can do our animals that used to do with it and they were laboring in the field or animals. We like to have as command. Says well you know certainly. That's what we want these mechanized machines that have some element of intelligence. Who Want to do that as well? So I know you see lots of use cases an examples of robots of of all sorts and as matter of fact when you started talking about the history of I robot you talked about robots in places like nuclear power plants in areas of combat and places like that so. What are some of these standard examples that you have seen especially more recently for robots and places that we may not necessarily have expected these robots to being performing really useful tasks others a great example in warehouse automation and so that some of the tasks the robots where the really making a great inroads today? Or maybe not the most glamorous robots like you know robots come and greet you at the door but robots that are enabling and are involving society to actually work and as we get more and more addicted to ordering things online and expecting products to magically come from. Click on the screen to my front door in a matter of days or even hours were increasing the load on warehouses to sales Toronto disorder toothpaste. I need to go find the toothpaste but in a box. Seal the box and mail out or even have it. Delivered automatically and that's an area where the industry is just exploding where there's demand for automation to accurately and swiftly and cheaply perform that type of service and so that's a big thing and an area maybe on the other side of the field of things we may have heard about contests driving vehicles these are robots and. I think there's a lot of attention and excitement around a when are we going to have and see robot cars and robot buses and robot? Taxis enter into our lives and gradually underway. Where there's different areas where maybe today's state of the art is in a known geographic area potentially operating at reduced speeds to ensure safety. You can get autonomous driving vehicles. Move FROM POINT A to B or highways with certain brands of vehicles. You can start to see things like smart cruise control and other assisted features in our cars and over time these robots that carry around and will continue to get more and more sophisticated until the point where you know driving truly becomes a choice and those are two really big areas where we're seeing a lot of activity and then obviously closer. I robot tone in the home where we're seeing vacuuming become tremendously successful commercially. We see potential for mopping and lawn mowing and then as we dial the clock forward getting into assistive purposes to allow elderly people to live independently. Much more safely
Squawk Pod
Uber CEO Khosrowshahi vows to deliver a profit
"Today Andrews interview with Uber Ceo. Dr COSMO shocking. Investors have been watching Uber closely for signs of profitability when Uber went public on the New York Stock Exchange in May of Twenty nineteen. Andrew asked Dara about it and Dara. Well here's what he said so for us. The Path to profitability isn't theoretical there are cohort of countries that are profitable. We do reinvest profits aggressively recipe. New Business Lines like eats that have great promise but we're pretty comfortable when we look at the portfolio of businesses. That we have that we have a very strong Pathak off a a few months later in an interview with CNBC November Dr Projected profitability by twenty. Twenty one we are actually targeting twenty twenty one for adjusted even profitability full year and this week around eight months after the company's First Trading Day Uber reported its fourth quarter financial results. And and as you'll hear there was also some good news for investors about that profitability goal. Here's Andrew Uber reported quarterly results. Last night the ridesharing giant announcing announcing on its call with investors. It is moving up. Its target for profitability by a year. Join US right now. For an exclusive interview is Uber CEO. Derek Ezra Shack Good morning to you. Good morning thank thank you for for coming in. Let's walk through if you could for investors so they understand how you think you get there and when I say get there. I'm talking about profitability. Well as we made through our way in two thousand nine hundred and we became more and more confident of the strength of business and the ability of our teams to execute.
News and Perspective with Tom Hutyler
September jobs report expectations: What to look for
"Heller MGM resorts international says a legal settlement with victims of the deadliest mass shooting in modern US history as a major step chairman CEO Jim Murren said today the casino giants goal has been to resolve the lawsuits it faced over the twenty seventeen Los Vegas massacre victims and their families can move forward in the healing process a gunman opened fire for one of MGM's hotels into a concert venue it owns killing fifty eight people and injuring hundreds just over two