35 Burst results for "Credit Rating"
Tesla's $5 billion share offering to be priced 'at the market'
"Today we are talking about Tesla's possible equity distribution of people have been calling the capital risk today and it may very well be, but we'll go into the details on that. Also, the implications that that may have four, S&P five hundred inclusion, and just a quick update on how that looks after the stock split, and then we have a been a news on model y out of Shanghai as well. So Tesla stock on the. News today was down four point, seven percent to four hundred and seventy, five dollars, five cents but a pretty steep drop from the after hours trading yesterday in the pre market trading today where tussle actually peaked around five hundred and forty dollars per share still though even with that drop today. TUSLA still up post split remember the split happened around four hundred and forty two dollars per share. I've gotten a lot of questions on why it would drop. Today I never know you know you can't you can't know for sure but it did drop on the news of the potential capillaries, which will obviously go into more detail on here. But many brokerages have seemed to have some issues with handling the stock split, which has made in some cases trading unavailable for some people. So there may have been a decent amount of shares locked up yesterday seems like a significant amount of that has been freed up. Today so many of those people in those circumstances may have decided to take some profit off the table after the run that we've seen the last couple of weeks, there's been some theorizing around the Internet that may be some of those brokerage issues were caused by naked short selling, which essentially means your selling a share short that you have not actually borrowed from anyone. You're just sort of creating your little share to sell to someone with the expectation. Being that if you would need to actually deliver that share at some point, you could go and borrow one. But the theory is that the split caused some problems for people in that position because of the need to deliver the four extra shares which has then resulted in some of the scrambling that has caused some of the share lockup for this period. Personally I am relatively skeptical of that theory the only reason that I really bring it up. Is because number one I've heard people having issues with their brokerages the last couple of days and number two to provide an example of things that may not necessarily be known. That could also influence the stock price rather than just the news of the equity distribution today are getting into the possible capital raise. Then I'm sure by now most people have heard that this morning tell disclose in a filing that they have entered into an agreement that will. Allow them to raise up to five billion dollars in cash through a follow on offering of Tesla stock. So that means Tesla can sell share of the market they keep the money for those shares and use that for their business purposes those shares if and when they are sold our newly issued shares. So that ends up increasing the outstanding share count deluding existing shareholders but for the exchange of the new cash coming into the business which can increase. The value of the company. Now in this case was particularly interesting is that normally when capital raises happen, follow on offerings happen there is a fixed price fixed number of shares. So company is going to say, okay, we're going to sell twenty million shares for one hundred dollars a share and raise two billion. That is not what Tesla is doing here. So this is an equity distribution agreement also known as an at the market follow on offering which means. That Tesla as the issue or can work with the banks that are helping facilitate the transaction ten for banks to decide based on the price that day if dessel wants to sell any of this offering all tesla spells this out very clearly in the filing saying quote, we will designate the maximum amount of common stock to be sold through the sales agents on a daily basis or otherwise as we sales agents agree and the minimum price per share. At which such common stock may be sold and quote. So Tesla could end up raising zero dollars from this. If they don't like the price that they're getting from the market that could also raise five billion or any amount in between and they to make this decision on daily basis or even more frequently as they say, they are if they agree to that with the banks facilitating this offering, Tesla just set the minimum price that they'll take and. If it doesn't hit it. Well, that's fine. Tesla doesn't need to raise capital them. Tussle highlights this point in the use of proceeds section. In the filing saying quote, we may issue and sell shares of common stock having aggregate sales proceeds up to five billion dollars from time to time because there is no minimum offering amount required as a condition to close this, offering the actual total public offering amount commissions and proceeds to us if any are not. To terminable at this time and quote as far as what Tesla would actually use any capital wrist four, they say quote, we currently intend to use the net proceeds from the offering to further strengthen our balance sheet as well as for general corporate purposes and quote. So personally I am thrilled with this Tesla now has the ability at any given point in time any single day to raise up to five billion dollars if the stock price surges in any. Particular Day for whatever reason Tesla can offer some shares opportunistically raise some money maybe they decide they wanNA raise a billion or two billion. They have that flexibility. The only real disadvantage of this kind of structure that you're not getting that fixed price you leave yourself vulnerable to a falling share price. So if you actually need the capital, sometimes those fixed prices can be better because you're assuring that you will get that capital, but if you don't need. It and you're just trying to raise opportunistically than this is a perfect structure. My point of view has mostly been that tussle doesn't really need to raise capital. They've got a lot of cash on hand and I think free cash flow is about to start to really ramp up is next few quarters. So even with the market cap being what it has been, I've basically been of the mind that if dessel feels like they need to raise the. Capital all support it, but it doesn't look to me like they need to. So I'm just as happy if they don't and this seems like a perfect middle ground, I liked the amount as well. Obviously could be anywhere between zero and five billion dollars. But even if it is maxed out at five billion and even if it's roughly around the share prices that were at today, let's say five hundred dollars a share. That's ten million new shares Tesla. After the split has about nine hundred and thirty one shares total outstanding. So that's about one percent dilution only that you're looking at to raise possibly five billion dollars even if you don't think Tesla needs capital Beth such small delusion having cash on hand as Tesla said, would improve the balance sheet that can go a long way in improving their credit ratings that can allow them to access cheaper debt there can be a lot of benefits of that cash. I wouldn't advocate for it, but they could use that to pay down some of their outstanding debt, cut those quarterly interest payments that we talked about last week, which would lead to tesla retaining more of their cash better profitability whether they just let that flow through all the way to the bottom line or reinvested elsewhere in the business.
Apple Card Has Started Popping up on Some Equifax Credit Reports
"APPLECART has started popping up on some equifax credit reports. That's the headline on a piece from. The Guard was already showing up on reports from experience and trends union with all three reporting agencies and play. The says Apple Card and to use can affect the user's credit rating both positively and negatively. Just like any other credit card.
Blockchain & Digitising Trade Finance Insights from Contour
"Call. Thank you for joining us today. Could you please give us a quick introduction on yourself thank you lead and thank you for the opportunity to be here. Introduction of myself. I guess away sometimes they usually introduce myself as I've been SORTA DOING FINTECH for thirty years all in Asia. So I grew up in the states but came out to Asian in college and then stayed out here but. Thirty. Years of Fintech. So I've done about twenty years of thin. So I've been in in worked at various. Banks Bank of Boston Standard Charter deutchebanks on transaction banking trade finance and cash management, and then ten years of tax. So I've worked at I left banking a few times I left in two thousand during the DOT com days to work for a company called trade card, which later became gt nexus and set up the Asia operations and then I. Left. Banking again in in in two thousand sixteen to to work for for our three and and helped set up a lot of Asian operations for them and my my third startup now is is contour which started seven months ago. So yeah about thirty years of of Finn INTECH. Extensive. Indeed of an anti corporate and start up world. You've got it all. So Call as it is customary here at blogs could you please explain to our listeners? What is blockchain and how does it work? What is blockchain? Well, I I think I'll I'll go to the the level below and distributed ledger technology and really disturb alleged technology is is is an opportunity for instead of managing your data in one central database actually everyone having their data in their own database and so just to be ledger instead of breaking it up and and it's goes back to the way our three and quarter talk about it. Is You, know we we all should should own our own data. And then we there should be a protocol to share it and you shouldn't share it with everyone. And sharing with everyone is is traditional blockchain which be the broadcast method of of consensus, but instead a quarter. On distributed ledger technology basis manages data by having them Even everyone has a note everyone has their own database, but there's a protocol, the sheriff, and that's how. Quarter works, and that's actually what contours built on. And Great and I think it's important. You know the point you just made about. It was blockchain near sharing with everyone in whiz these legend technology you only sharing with the relevant parties because that's sometimes it's something that is misunderstood too often by people who are introduced to this world though thank you for that. They usually sort of say has also is is when I talk about traditional blockchain, Mus the broadcast method and I do it in in Taiwan to Taiwan fifty years ago you when you got when you got married, you didn't need to register to to get married. You you you just had a big dinner. You had a big new invited everyone in the village. To. Front of everyone the village said I'm marrying this woman and therefore everyone knew you're married you didn't have to register anything but the fact is that everyone knew it and then it became a fact and that actually sort of this is a consensus method in in in an old version. Indeed indeed. Thank you for that The. World Trade Organization estimates that between eighty percent and ninety percent of global trade relies on trade finance. Yet, there is a one point five, trillion dollar gap between the market demand and supply for trade finance something, which I'm sure was co Vina's has probably increased US instead. And KYC and am. L. Requirements remain the most cited barrier was high transaction fees and low credit ratings running up the top three SME's remain disproportionately affected by these and other bears experiencing a forty five percents rejection rate on proposals, which is much larger than than seventeen percent seen by multinational organizations. What are your views on these challenges? Again International Trade. It started out of minutes it's been going on for a long time. You always have this distrust deficit when you have a buyer and seller in in far off countries now that trust deficit is a little bit easier to manage now because you have the Internet and you can see people online and you can skype them and talk to them and Imagine what it was like when you you had to put money down for shipment that would come three months later and you didn't even know the person you only known by a letter right so obviously, it's gotten a lot better with with communications nowadays but I'm in the challenge is really for for SME's is is related to data right because a bank. Bank as a as a lender right as a facilitator of of credit. Is. Looking. To to not make a mistake banks don't really have to. A. Lot of banks goals is is not necessarily to make money but don't lose it. Right and they'll make mistakes on credit and it's very hard for SME's to have A. To have enough information or the information that they have is not sufficient to tick the boxes on a traditional credit scoring sheet, which which the banks us
"credit rating" Discussed on Tesla Daily: Tesla News & Analysis
"Our here and stay WanNa talk a little bit about any on Musk tweet from yesterday on Tesla potentially licensing its technology, and then we have a number of other fun topics to go through Tesla's ten q quarterly filing securitization of Lisa's as well as tussles credit rating, and also a Morgan Stanley note I promise it'll be more fun than they sound. All right. We'll start off with the licensing topic yesterday Elon Musk on twitter replied to a tweet from Tesla Roddy about an article which they titled Quote Tesla Obsessive German Automakers looked to solve multi year tech deficit and quote you replied to that article saying quote Tesla is open to licensing software and supplying powertrains. And batteries we're just trying to accelerate sustainable energy, not crush competitors and what. So this has received a lot of attention and I think caught a lot of people maybe by surprise but this is nothing new from Tesla. The same question was actually asked to Alana on their third quarter earnings call last year and replied quote yeah I think there's it would be consistent with the mission of Tesla, to help other car companies with electric vehicles on the battery and Powertrain Front possibly on other fronts. So it's something we're open to as a lot of people know we open source star patents so that does not serve as an obstacle to the adoption of electric vehicles. Solar power or stationary storage, and we're definitely open to supplying batteries and powertrains, and perhaps other things other car companies and quote, and of course, over time Elon Musk has been very consistent with the super charger network being available to other automakers as long as they sort of came in with good faith and did their part in expanding the network and things like that. He's mentioned discussions about that in the past. But so far nothing has come to fruition though another startup Boeing Motors did respond to John's tweet on this and ask if they could use the super charger network. So maybe we would see something come of that but getting back to the main point. This isn't really new though did hear mentioned specifically software which I don't think he has done in the past and he also responded to a tweet asking about if that would include autopilot to which he responded shirt all this isn't necessarily new. I do still want to give my thoughts on it as I've said before I think it's unlikely at least in the near term that Tesla will do any sort of licensing on powertrain and batteries. If we think about that, you must have just said on the last call that pretty much looking out in perpetuity their biggest constraint is going to be some part of the battery supply chain stating that another way that means. That every single battery Tesla can get their hands on obviously within a certain threshold in terms of performance cost Tesla has plans in place to be able to utilize all those batteries. They don't have access to mark up share with another automaker that is then going to apply their own markup on that portion of the vehicle cost, and then put that in the market at a much higher price than Tesla can do themselves by removing that extra layer of markup direct quote here from on on the Q. to call, he says, quote, the real limitation on Tesla growth is cell production at an affordable price that's the real limit and quote later on in the call. He. Then says quote like the thing that bugs me the most about where we are now is that our cars are not affordable enough. We need to fix that and quote. So selling the resource that you're most constrained on to your competition, which is then going to sell it into the market is completely incongruent with the goals of growth and increasing affordability. So that's my overall point of view..
Boeing Launches $25 Billion Bond Sale
"The company. Avoid Government Aid Boeing raised twenty five billion bond offering on Thursday a blowout result for the planemaker. The seven part offering which includes bonds that won't be redeemed until twenty sixty was over subscribed attracted better pricing than might have been expected for a firm that just had its credit rating downgraded to a notch above junk status. The deal expected to close may fourth would be one of the biggest ever corporate bond offerings
Boeing Launches $25 Billion Bond Sale
"Boeing says it raised a whopping twenty five billion dollars in a bond offering allowing it to avoid seeking federal aid if the company's biggest debt sale ever the deal expected to close Monday would be one of the largest ever corporate bond offerings and it comes just a day after Boeing reported a second consecutive quarterly loss and had its credit rating downgraded to a notch above junk
Trump and New Jersey Governor Murphy meet at White House
"Your Jersey governor Phil Murphy meeting with president trump at the White House this morning to plead for more federal help to pay for expanded coronavirus testing and to avoid massive layoffs details into B. C. certainly could meeting comes just hours after the credit rating agency S. and P. global ratings revised new Jersey's credit outlook to negative governor Murphy says New Jersey one of the nation's covert nineteen hot spots needs millions of federal dollars to expand testing to reopen the state's safely and to help balance the budget because of revenue lost during the pandemic states are going to declare for bankruptcy but I'll tell you what will happen will got first responders teachers and the like will have no
Google is working on its own debit card (again
"In our never ending quest to find stories to talk about Because as you know times have changed and there's not a lot of news but there is some Google news. Google is according to the verge working on. Its own debit card. Now the weird thing is Google used to have a credit card. I remember getting. They stopped at two. Google this is. This is short-sighted from High Garden Berg. They're coming back although it wasn't a debit card and I guess the Apple Card which is Goldman Sachs Bank Which is Weird Phantom? I don't know I don't know you have to have a certain credit rating to get it. No well wasn't there a big kerfuffle around getting it women not getting a couple of Steve Wozniak and David Heiner Meyer Hansen who created ruby on rails. Two well-known D.C. Icons both said I got a much better credit limit. Then my wife who has my same finances because she's my wife but anyway apple says. Yeah well we talked about this. The ways of the credit score are varied in mysterious. That apple said okay. We'll fix that. Lisa got a better credit limit than I did on mine. So some prizes based on your personal credit I would guess yes exactly. Yeah and if you see under sixteen hundred dollars thermo mix exactly exactly. Google wants to Google branded smart debit card Actually the apple cart which I've had for a while works quite well. You get cash back. The Nice thing is tied to the watch which is kind of something I guess Google Google has android wear but does anybody where android wear but the idea of a close eventually. Maybe it does have me. Yeah so nowadays. Not Touching money or credit cards but Attack at the grocery store if you have to go to be Embraced so maybe that's maybe this is a Cova thing. I don't know Came into our meeting thing because data thing you're right so you can get a lot of information and like facebook even has deals with credit card companies to to say. Hey what are people buying? So I think Google's like oh I would love to know and about tying that back possibly advertisements you could actually say. Hey this since saw this ad. They already do that their they already do that. Yeah but the so they have google pages like apple pay and Samsung Pay But the normally those work by you attach your existing credit cards to it. So what's different about Apple's credit card is you can use that as your primary payment. Apples is actual charge card. It's a credit card. You rack up a bill. You pay it in the month. The Google supposedly. According to the verges a debit card. They're going to partner with city Stanford Federal Credit Union. It's visa but most debit cards are either visa or MasterCard But it but it will take it right out of your bank account as opposed to adding up the charges till the end of the month It will do virtual card numbers. That's one of the real selling points on the apple. Credit Card is that the merchant doesn't get any information about you They don't even get your credit card number they get a token and they don't get your address your real name or any of that stuff and of course merchants hate that. Google apparently wants to do the same thing. But you know who gets the information apple and Google in Google's case so it's not like they're giving up any information customers will be able to use the Google play APP to lock their card in the event of theft or loss according to the verge or lock the account entirely Google Zap reportedly and there is a picture of the APP so this leak is pretty well. Sourced will reportedly allow customers to easily track purchases using Google maps and its database of retailers. Would you get goal Debit Card or not?
Virus puts brakes on US economic engine: consumer spending
"There's a new phrase going around the coded at fifteen fifteen pounds gained by many who are holed up at home with unlimited access to the fridge no gyms health clubs were bike trails to work it off planet fitness as per load its workers at two thousand gyms across the country and make up why bother with consumers not going to work or to bars and now covering their faces moody's credit ratings agency has downgraded stocks for cosmetic firms Cody and PH beauty hi Jackie Quinn
Coronavirus-led global recession to be deeper than thought but hopefully short
"In a chilling reminder of how fast the corona virus epidemic has spread around the world Fitch ratings changes twenty twenty view on the global economy to deep global recession from slow growth in just ten days the credit rating agency said it now expects world economic activity to decline by one point nine percent this year on March twenty second Fitch had projected global GDP growth of one point three
S&P Cut Boeing's Credit Rating Due to MAX Uncertainty
"Boeing Is having its credit rating cut by SNP To one one grade above junk status the concern here being that you're looking at cash flows that will be under pressure on two fronts. Really first of all we know about the seven thirty seven bags which Boeing believes will be ungrounded by the middle of this year potentially freeing up deliveries to begin maybe in the third quarter or early in the fourth quarter. We've known about that for some time. But the other issue that has really come to the forefront over the last month has been what happens to airline customers who have ordered ordered aircraft and now because of their finances being under pressure as people around the world cancel flights and generally do less flying our airline customers going to either defer deliveries cancelled deliveries Look for help from Boeing. That's a one two punch. That is hitting Boeing cashflow. Potentially over the next six months to nine months. And that's the reason why. Smp has cut the credit rating on Boeing to one level above junk status. While I know they got hit by pitch last week. Now that Philibeaux on Boeing. Thank you very much
Intuit wants Credit Karma along with all the data
"Everyone wants a piece of your finances. Apple Amazon. Google even Uber are getting into Financial Services Neo banks offer all digital checking accounts and now into it maker of Turbo Tax quickbooks and meant wants to buy Credit Karma for seven billion dollars. Credit Karma offers free credit scores tax. Prep and helps people shop for credit cards and loans into it says it wants to build a personal financial assistant that uses your data to connect you to even more credit cards and loans. Here's into its CEO. Sasanka Darcy. Yeah our vision is very much an it's of course shared with Credit Karma Our vision is to put the power of choice in the consumer's pocket. We truly want them to be able to carry around a financial assistant that at any point in time they can connect a product. That's right for them and all the choices are in front of them. You know part of the challenge is if you're picking a credit card you don't know if actually is the one that's right for you with the best rate if you're picking your auto loan you're more negotiating the fee of the or the monthly payment of the car versus you getting the best rate. This is about putting choice and truly the pocket of the of the customer and letting them know what's right for them and improving their financial life. So that's that's the really the vision that separately both Credit Karma and into it having together we believe we can accelerate the by ten years. Well let's pivot to data. How valuable is that? One thing you're getting with his acquisition is of course a lot of personal data that credit card has been known for not selling. How valuable is that data? And do you expect to monetize it in the future? Whether you know let me start with our data stewardship principles that it's the customer's data not ours that we will never sell the data and the data will never be used without the customer's consent and when they can send it will only be used for their benefit as we look ahead. Doubling down on those principles collectively is important. And it's really pulling together the data for the customer so it's in their hands just as a as a practical matter. Can consumers say I may have opted into sharing my data with Credit Karma but now with into it and I would like to withdraw. Yes absolutely. It's a pretty big purchase? And we're seeing a lot of other consolidation and the rest of the tech industry is having questions asked about consolidation. Antitrust is the. Are there any concerns that here? Yes we're going to be working very closely with regulators to provide all the data that they need a thinks who the market structure and. We're actually quite confident in the outcome. Because at the end of the day regulators job is a very important one to ensure that whatever's being done is good for the end customer and the end consumer and in this case is going to fundamentally propel The choices for customers to help improve their financial health so we feel really good about just the impact this is going to have for the end customer and then how does consumer financial literacy play into all of this is that you do consumers have right now the financial literacy to play at this high level or is it part of your goal to increase that as well well one our job in Credit Karma. Does this very well today? Our job is to make things drop that simple so that really the consumer is making a choice of what's right for them in a very very transparent fashion and so making sure it's easy and seamless intuitive will always be the goal with that said part of what the two companies are separately already doing and when we bring them together it'll just simply accelerate. It is educating consumers on how to improve their credit rating because at the end of the day your credit rating drives what. You're able to get that. What interest rates and so helping them understand the utilization on credit cards helping them understand making payments on time helping them set goals around making all their payments on time. Those types of things is what teaches consumers. What they should be doing so that they can improve the health of their financial life. And that's part of what we will continue to accelerate doing beyond just connecting people to financial products is educating them so that they can ultimately improve the health of their of their life. Society Guitars is the CEO of into it. The deal is the third big fintech merger announced in the last two months. Morgan Stanley said last week. It Oh by E. Trade for thirteen billion dollars and Beza up digital payments processor plaid for five billion in
Meet Our Junk Bond
"Okay so listeners. You might remember that back around the holidays we the indicator jumped into the bond market. Yes we did. We bought a bond turned out though. You know bonds are really expensive so we had to buy. We bought the very cheapest blonde. We could find still by the way cost. Two hundred eighty seven dollars and we had to buy two of them so the total came out about six hundred dollars so for a COUPLA podcasters now not cheap not cheap but the cheapest that we could find and it was what is known as a junk bond so bonds are basically loans when companies want to borrow money. One of the ways they can do that is to issue. Bonds investors can buy those bonds and eventually get paid back along with some interest but just how much interest is bonds. Pay Largely depends on the company itself so if a company has a lot of cash on hand and not much debt. And it's just a really safe company. Then lending that company money or buying one of its bonds because it's the same thing is just considered a really safe investment take Microsoft it's bonds are rated AAA that is the highest possible rating. So they don't have to pay a very high interest rate or yield so if you bought a Microsoft Bond Right now one that matured or paid out next year you would make about one point three percent on your investment not very much money but that is because those bonds are considered so safe. Yeah then there's the bond we bought not so save different. Yeah it's a company called Hornbeck offshore services which supplies equipment and logistical support oil companies when they drill for oil in ocean. If we hold this bond until it expires next year we would make a hundred and forty six percent return on our money. That's a big if though. Hey risk pays baby. Yes a lot of risks. Though I was walking down the streets and you said we hornbeck and audibly gasped clear. Boston covers the bond market for Bloomberg. Hornbeck is an extremely risky company. I spent a lot of time looking at these companies. And you guys didn't just pick a higher quality junk bond. A higher quality which had clear says the junk bond market is a pretty big and varied place and not al junk bonds are created equal. So there are three basic tears. We mentioned company. Credit Ratings. Triple A. Aa SINGLE-A TRIPLE-B CETERA. These are all desirable ratings for a company. These are so called investment grade ratings. It's a lot like a person's credit rating if you're below triple B though you're now in junk bond territory like our bond. The FIRST YEAR IS DOUBLE B. That is what we would call a p high quality drunk No one is worried about them. Not being able to pay back their bonds for instance some of Ford Motors bonds are in that category also. Jc Penney and twitter in a record number of US companies are issuing junk bonds. Now Clara says companies started barring unprecedented amounts of money and using it to buy up other companies and to expand their operations and do all kinds of things. And why not? The money's cheap but all that debt will bring your credit rating down and that's why so many big stable companies are in the junk category right now and then sort of the biggest part of the junk market is sort of a single be rain so call it the middle you know and so that's kind of what people consider to be traditional junk so you know a little riskier companies like Bethlehem. Steel Revlon Uber. A lot of companies. That are still considered to be solid companies. Just maybe having some cash flow problems and then the lowest here is triple c That's where we bought. Tell me about this lowest here These are companies that definitely you could think about potentially running into trouble and not being able to pay their obligations back like maybe going bankrupt or something like even in the best of times. Investors are a little wary of really loading entrepeneur triple seat DOT hornbeck offshore services is in that lowest. That's where we invested Hornbeck. The company is based in Covington Louisiana. A little city right near the Gulf Coast Hornbeck was founded in nineteen ninety seven by Todd Hornbeck and he is still the company's CEO. Hornbeck has about a thousand employees and it owns a fleet of boats that it hires out to supply people and equipment to offshore drilling sites.
Kraft Heinz credit rating cut to ‘junk’ by Fitch
"A day after Kraft Heinz posted disappointing quarterly sales pitch today cut the credit rating of the food giant to below investment grade also known as junk the company has been struggling to grow sales as consumers shift to healthier options and private label brands Kraft Heinz shares are down another three and a half percent today and down about forty percent over the past twelve
UK government hints BBC licence fee could be scrapped
"Not say. The government continued US ongoing scrutiny of the BBC and in particular folks on the licence-fee today. Nicky Morgan the head of the Department for Culture Media and Sports and as the government was going to conduct an eight week review into the license. Fees should be decriminalized and nicky. Morgan said that there were legitimate concerns. That criminalization was unfair and disproportionate. Now Katy Hey. This is already been one review into decriminalization under David Cameron. which found that? The licence-fee shouldn't be people shouldn't be realized for not paying it at a different prince. This time I think this number. Ten is quite determined to decriminalized the licence-fee Nicky Morgan Speech Day is in particularly I'm surprising. In the census things that have been reported on nervous speculation. It was heading this way when it comes to this eight week consultation period. I can't see that much rush from it. Which is going to persuade them? Otherwise I think we'll be interesting. As do they come to an agreement where they perhaps suits some type of financial rage age with BBC to make up for anyone. WHO's they're not paying the licence fee? Who is it? Move a swift car on that angle. So I think we're heading to situation where the license licence-fee decriminalized questions does that mean. If you didn't have a license fee and you refuse to pay it that your credit rating will no longer be affected. I think this details like that that we will have to find out how it pans out but I think the general sense is determined to decriminalize. I think that if you look at her other comments I think one of the top news lines to come from the speech was TV. License could be abolishment. Twenty twenty seven and this is not just about decriminalization. What is the future of the BBC? Now there is a healthy majority Tory government. And I think that you could hear from what Nicky Morgan was saying in terms of she warned that if the BBC was not Catholic Catholic. Could end up being blockbusters the if people remember on this podcast the video hire shop that critical outpaced by everything else. And eventually Ashley had to shut down as I think that it poses some interesting questions. For How do we supposed to compete. In the years Tacoma and if it it should be I think there is a sense that this government so i. I think there's a sense that this government doesn't believe that the BBC is best place trying to cater to every audience. And I might try and limit some of its remit to things that do seem to be more in the general interests Sir of information on the public roll and I suppose some of the things of as might cool frivolous programs in James are a lot of people are GonNa see this as a very direct attack on the BBC. Be Safe from the government. Decent us a fair characterization. Should I say any giggling about future velocity is no matter just arrived at the table table with a food that public helping the D. A. Calorie Count for most of nearly twenty eight days varies we. Aubrey is not long enough for several months. In this podcast this is a Scottish delicacy. This is a Dalgety Bun is basically a reason is delicious lucious I have not seen one lazily. Slovenian seems to be Made Available Twenty K.. So on the BBC. See I think the question right now is the point that is made by people who do opinion research. Ease one things you can see the net flicks Wchs Amazon Prime subscriptions or these things have changed seep think about the BBC lessons week because they now have something that they pay for entertainment but they can compare it to so people are assessing wherever it is value or not. I mean there's another problem for the BBC which is the BBC have feel that they have a particular ticket problem with the undefeated that mythic grew. Because they don't they don't sit Donna Watch. TV in the wave at POPs can pause generations did onto the BBC alternative going very hauled to tronc reach this audience and also as ways but that is creating new tensions because it means A. They'll getting into people feel that the BBC is beginning to trample commercial providers in areas like focus on also it is it is taking the BBC the BBC was living the way to reach. The students is to do stuff that people don't see the public service Madison so he has Varghese on this morning saying that you know. Let's let's look at the you know the BBC Red Store BBC news on the weekend was about Kim Kardashian. Roy Is that rookie. BBC Nava pulled Cottam reality TV again. Is that public service broadcasting and so I think the BBC face com series of strategic choices. They need to make Ivan. If one was only only thing the BBC now they have to strong stone calls to play one is the union is on the massive random the BBC's undoubtedly one of institutions are going to underpin the kind of cultural aspects of union and the thing that that is the thing that makes them feel more protective of the BBC. And the second thing is the creative industries are great. British expert for BBC became a vehicle for that that would make it fit in with on a broader kind of idea of of a post brexit Britain. I mean James You mentioned strategy before and Katie. Think to be this sort of battle that the the Government has against the BBC kind of on multiple fronts as well. I think Gordon came slightly unstuck today when he was asked whether it was gonNA continue. Its boycott after today program. Do you think as it sort of ramps talks on the BBC. The boycott will have to end. I don't think the boycott will have to end that. This government even the people making that point. I taking this government views them as things that Patinkin particularly linked up. And I say that is not. The government is refusing to send administers on any BBC. Show is a specific show. Now you can criticize that and say Otani. They should be as people made the point in this week. Giving them having terrorist incident. You should be sending people up on these things but I think that the way this number ten tends to work on media is they will do enough usually elite to send a minister onto a similar show or show in the same realm pabst little bit chide the producers on the show they don't like but was it to make the point completely hiding scrutiny. So you can see it in the sense. I thought it was interesting this week for example and this isn't the BBC Pref- had brochand going on the world at John runs deep regret. I think that this week you have good morning Britain the program so it's not just the BBC issue. I think that's probably worth pointing out but give Briseno. We're not getting any ministers on that program doesn't ongoing spat there but this morning got particular talent. So I think that you probably have to separate the two your coaches and I think they all still sending people into shows clearly annoys some people but I think from the number ten perspective they are linked because one of the things about the BBC's it doesn't Operate in the way you would expect it to so it is not a single model. All individual programs fight their corner and they approved very adept at the abortions is team play off against each other. Join the election campaign portions. Andrew Maule no Andrew Neil in the BBC and so. You can't do that one if you don't do that. One at the beginning of this year didn't give a traditional custom race into each day program or to a drama but he did an interview with BBC Breakfast which then led the BBC bulletins because they were news lines in it so in a way because it partly because of the way she's from the BBC Conseil when you call on this year you can't Ernie bit of the BBC unless you do what you want to say the BBC will always be ways to go round particular programs. I mean not is going to challenge the Ucla Whiter how to respond to.
Holiday Sales Rise Thanks To Record Online Orders — Now Come The Returns
"We spoke a lot about Amazon's big earlier keeping busy not just with those getting out deliveries agrees before Christmas but processing returns over the next couple of days and it is not the only retailer no doubt seeing customers bringing back the gifts. They don't like they don't need or don't the one so with that. Holly spirited of the spirit got thinking spirit of holiday returns. What stocks do you wish rush? You could send back Timour kicking off. I think it has to be L. Brandt's So they of bath and body works and of course Victoria secret and you've got two different fortunes there but really getting weighed down by. Victoria's secret I don't think anything is going to change your by the way whenever we used to talk about L. Branch we would get to it as footage of of people you know models anyway anyway. So we'll stop that but the bottom line this stock is we went into the decade was eighteen dollars doctrine. It Up to ninety five it will leave the exact same press at the end of this decade bed. Bath and bath and body. bodyworks is growing seventy eight percent. Victoria's secret is contracting four. To five percent I I think this is a stock that despite activism and some dynamics that could change the boardroom. is is left with a brand that is no is no mall to hang out in which is really ready when you pick up. Tim's return anybody a buyer bilby. There we go. I think it says it all your returned to sender return to sender as Apache we talked about mean reversion but this is definitely one about avoiding a falling knife. Sometimes sometimes things are cheap for a reason you look at you look at Energy Energies at Nineteen Times trailing you look at Apache Their fifteen times and the reason is that they are or just having tremendous troubles with a really key drilling that they're doing down in Suriname and not making. They're not making any real effort. They're not they're making a lot of effort. They're not making any headway there and they're having troubles elsewhere which is to say that they are having real production troubles. How are you gonNA make money? If you can't produce produces sixty dollars stock five. This is genius. This is not. It's not a cycle energy. Call you say this is a broken company broken company. Okay now Victoria do I understand is the Houston resident on this panel. You are sending an oil and gas dock also back. I am at least part of it right. I'm not thinking you have to completely sal. Exxon Mobil that's our peck but it may be trimmed. The position a little bit. Not because we don't like it is a holding for the long-term but really because we think that it's a better use of some of the funds. We have received from out over the past year. You look at that chart year to date on pricing. I mean from the end of the first quarter. It's just spend downhill all the way we think there were better uses of funds than keeping an Exxon AAA credit rating. It doesn't have a lot of debt relative to its cash flow. It's got five percent dividend yield. Well that's why long-term mm-hmm I think it's holding but trim some of that position while it was doing the steady decline down use those proceeds higher quality name in your portfolio. That was doing better this year. Okay Okay and a final returned to sender from Dan Nathan. I Would Victoria says really important is better uses of funds right now. We don't all have finite amounts of capital like you. Their guy I mean I need but what I'm saying is so. Let's go back to Apple. We have an infant. Yes apple and just to put you know I've been wrong in this thing for the last. Let's say ten percent over the last month or so. The thing is gone parabolic. I think the last time it did that was in summer into the fall of two thousand and eighteen and had a twenty plus percent return almost in like a straight line over two months over the next few months it dropped forty percent drop. This stock has had multiple thirty plus percent peak to drop decline in the last five years. So the only point I'm making it. I'm not trying and get you out of APP on your broker. I'm not your head familiar for you. I'm just telling you that this stock is the biggest. One of the world has a tendency to lose a third to forty percent of its value. Every couple of years and it usually happens after you have a parabolic move like
Clean Energy's Ever-Changing Policy Risk
"In the summer of two thousand eight Britta von Essen took an internship with a major investment bank after wrapping up business school. It was considered at the time one of the top places to work it was with a company called Lehman Brothers and it was actually a fascinating summer. I was working in their global power group but focused on renewable energy and you know there was a lot going on at the time. Tax Equity was really ramping up. People were figuring out how the structuring was going to work with that. There are a couple. IPO's that were right on the horizon so it was a fascinating summer from renewables perspective and also what was going on at Leeman. It's been an unnerving week for US financial markets and now the potential collapse of Lehman Brothers once the fourth largest investment firm in the US at at that time. Lehman Brothers was the top investor in renewables it had bought big portfolios of wind and solar projects. It was a leading equity investor and it was helping take companies public it was an exciting time but as the summer war on market conditions worsened investors got nervous in things got grim for Leman analysts say the bank's future is in doubt out afterward reported a loss of nearly four billion dollars in the last quarter. Leman brothers is suffered heavy losses as a result of the US housing slump while I was there. It was just constant reassurance that that these cycles are normal and and you know financial markets go through this occasionally and everything was going behind of course it was not fine be one of the watershed days in financial markets histories. He was a manic manic Monday in the financial markets. The Dow tumbled more than five hundred points after two pillars of the street tumbled over the weekend leman brothers or one hundred and fifty eight-year-old firm filed for bankruptcy in the lead up to the Leeann bankruptcy in the fall. IPO's fell apart project financing dried up and cleantech companies beneath loans underwritten by the bank were suddenly exposed to risks. They didn't foresee. BRITTA had a front row seat to all of it. After leaving lemon she picked up and moved to Italy where she helped build wind and solar projects for a German developer soon after she witnessed yet another period of chaos the swift rollback of feed in tariffs the Italian market came to a screeching screeching halt. It did teach me a lot about developer resiliency the fundamental optimism that is required to be of renewable energy developer and and taking the long view on a lot of these projects so British took those lessons and apply them to the next chapter of her career. She now advises clean energy companies knees on how to manage risk so you've managed to witness the collapse of one of the biggest investment banks and one of the biggest European renewable energy markets back to back. That's quite an entrance into the industry well. I swear it's not me I'm not the not the driver and all of this but I think what it taught me was that things change and the markets move and those that are resilient and those that figure out how to work in the new paradigms that they're given are the ones who are successful so I've taken a huge amount of those lessons into my current job and into my current business where I'm basically advising folks how to roll with the ever changing markets that we see in wind and solar. I'm Stephen Lacey in this episode produced in partnership with Cohnresnick and cohnresnick capital talking talking with British Ivano sin about those ever changing market conditions today Britta's a managing director at cohnresnick capital over the last decade. She's seen all kinds of market risk mostly expiring or changing policies that create financial risk you know I it was the sixteen o three grant expiring then it was. ITC expiring PTC's stepping down. What are the safe harbor policies we we didn't even get the IT safe safe harbor policies until fairly recently. I think it's just a fundamental aspect of this industry. It's Salat about planning for the unexpected in British. Job is to help figure out how to get renewable energy deals done in the face of those challenges so I sat down with her to unpack some of those policy uncertainties and what they mean for renewables and I wanted to know how often does policy change derail projects so I have. You've worked on project many projects that were potentially derailed that we manage to work around various policy changes. I think change in tax law was a really interesting time where we had to figure out how to keep the investors active of an investing in two projects that would probably not be commissioned for another twelve months and how to get around the fact that there was a very likely change in tax law to be passed at that time and yet nobody knew exactly what that was going to look like. I think this PG bankruptcy recently and the California I think it was a be ten fifty four the wildfire response bill that has been high in the mind of a lot of California developers at the moment who were focused on contracts with sce NASD Johnnie and whether or not those credit ratings. We're GONNA take ahead that policy was passed and I think both of those organizations are are quite secure and short up and that was that was great news for California winging developers across the board with or without contracts well. Let's walk through some of the big drivers and uncertainties around them so you mentioned. PG Ag any I'd like to talk about PG and understand. What are you now looking for in a bankruptcy proceeding what kind of risks to contracts tracks are there currently what has been sorted out and what's still left to be sorted out that would impact renewable energy developers so I believe there is still still quite a bit of uncertainty as far as the potential for PG any to cancel contracts that are considered out out of market today so these would be some of the earlier vintage. PPA's there are several conversations and I know cohnresnick has been a part of several several of these about trying to restructure this through bilateral negotiations with pg any and kind of nipping in the bud lead and coming to a good solution for all parties but otherwise I think there is still a strong degree of uncertainty here there there are investors who are then making plays in this and trying to pick up these assets making a bet as to whether or not there will be restructuring of the contracts are not as as well as you know. It's an unfortunate situation but it's certainly a very active group of projects and sponsors that are figuring out working working through how to navigate that uncertainty. Let's go to tax equity. The solar investment tax credit is now facing the beginning of its step down schedule this is obviously going to impact the economics of project development but we have had some clarity on this step down unscheduled for for years now how is facing down the IDC GONNA change the way projects are financed and does it present any risks that were not there previously so you're right. There is a very clear step down schedule which I think has been helpful for folks trying to new forecasts what this looks like that being said given the safe harbor provision. I would venture that there is a generic assumption option from those who are procuring. PPA's at the moment that their assets that their projects will be safe harbored many of the major. I pee pees Jason. Strategic are making significant safe harbor place. They are you know doing this both for their own projects jags and under the assumption that there will be Ebony advantages over the next few years which I agree with. I think a lot of these developers that are procuring making this assumption are going to limit themselves to buyers of the assets that can then fulfill the safe harbor in order to meet the Economics Amax. What do you think the chances of an extension of the investment tax credit are. I know that the Solar Energy Industries Association has all of a sudden and put this back on their priorities list. They think maybe there's an opening to extend the federal tax credit. What do you think the chances of that arc given what you know so there's a couple a couple aspects of this that are important absolutely it would be beneficial to the industry right that being said we are months away from the step down last time this extension happened. I think we had a good twelve months of lead time so it allowed loud folks to plan at least partially accordingly in this case you would actually jam up probably some more some of the more major players who have made significant safe harbor plays that would have been capital that was not necessary to deploy a and potentially at pricing that is not beneficial to their assets so there are mixed mixed feelings throughout the industry about this. I think there is a decent chance I also think it's interesting giving kind of the economic markets at the moment and the potential for a downturn. Let's call it in the next twelve to eighteen months renewable such a critical component of job security and job growth in the US economy at the moment that especially if we're facing some type of downturn it may increase congressional and government support for some type of extension here. What about the storage tax credit. That's been floating around Congress for for a long time if there is this renewed push for potential solar. It see where does the storage. I T C fit in there would would it be something separate. Would it be wrapped together. And what do you think the chances of getting this thing finally pastor. I think the storage credit is actually much more critical critical than the than the solar one in the in the near term here I think with Alda we will continue to have murkiness around trying trying to loop storage into either wind or solar tax credits which is is just messy. It's hard for investors to get their heads around it. Just adds a lot of confusion and it also limits what you can do from adding storage onto existing renewable energy projects objects. I think throughout the energy community there is a consensus that storage is a critical component that needs to be deployed on a large scale will in order for renewables to continue on the growth. It is an in order to hit. Some of these are targets hundred percent in California boring. If for example you you have to have the storage component there otherwise you're facing you know a variety of issues on you know intermittent see or demand or any variety of aspects so. I am a little more bullish on the storage tax credit. I I think a standalone tax credit does a lot to simplify and streamline financing aspects for storage whether or not it connected to renewables and whether or not commissioned at the same time as the
Sanders unveils plan to eliminate Americans' medical debt
"And we're talking about to Bernie Sanders plan to completely eliminate existing medical debt one other item here he he would exclude medical debt from credit ratings does that enter into the argument anywhere answer me. well I think I think the argument is that you know nobody has been shopping in the emergency room nobody is did it work. medical debt is something that comes upon not because people are you know who want and spending but because their day there's medically necessary care that they need need and and it and sometimes it comes suddenly one of the things about health care that it it's it's usually one of the biggest expense of people have in their lives like a house with a car but it's but one of the things that's unique about her is that it's often unplanned it can happen in an instant you your get the diagnosis that you have cancer you get you get into an accident and and so the question is is is that different. Dan though other ways that people have accumulate debt that meet that might be more plans are or might be because of decisions decisions in one's life and I mean I think an important decision for people they do is to get covered but what it needs to be comprehensive and it needs to be affordable and we've taken steps under the affordable Care Act but there's a lot more to do it is an eighty one billion dollar conundrum the medical debt in
8 Things that Happen During a Recession
"GONNA talk about eight. Things usually hassle ate during recession comfy here you go number one stocks drop generally speaking the drop about start drop about six months before the recession and according to the capital group which is the folks behind the American family of funds the start to rebound about six months into recession and that they've recoup their losses over about eighteen months so usually it's. It's not too bad. the average loss during recession depends on how you look at it but it's like twenty to thirty percent some of in very shallow that said the last two recessions we experience at the dot com crash and the great recession. Those were declines a fifty percent. It took more than five years for the stock market to recover but basically this is why we always say any money you need. The next few years should not be in the stock market number. Two rates also dropped so it's already started. They could continue to go lower. The Federal Reserve is going to meet a week. Everyone expects them to drop the Fed funds rate by twenty five basis points. Maybe fifty basis points around the world. There's this is phenomenon of negative. Interest rates hasn't happened yet in America but Alan Greenspan recently just told CNBC. It's only a matter of time so rates. Could it keep dropping. What does that mean well. Ideally you could refinance your home. Get a lower mortgage. Guitar Refinance Your Car Loan Student Loan. Hopefully your credit card rates also get out so that's actually pretty good news number. Three bonds hold up depending on the bonds so generally speaking when rates go down bounds go up as we've seen that this year bonds actually made almost ten percent so far in two thousand nineteen which is a pretty extraordinary turn for bonds in two thousand eight when the S. and P. Five hundred went down thirty seven percent bonds. I went up five percent. The only thing is it does depend on the type of bonds treasuries do well corporates do generally okay but it depends on how far you go down the the credit rating. When you're looking at junk bonds they do not do so well. They lost twenty percent and two thousand eight so the more you are concerned about a recession the more you should keep your bonds to treasuries or highly rated corporates or maybe just play it safe with cash number four. The price of your house actually might go. Woah so I think a lot of us were stung by the great recession and that was really the first time when we saw a nationwide drop in home prices the truth is when you look at recessions historically home prices actually hold up well and there was a study by Mark Mark Holbert published in Market Watch we found that when when you look at the case Schiller Index of home prices that actually does better during stock bear markets than does during stock bull markets so historically in in most cases. Your House is actually a good hedge against the recession against inflation and its stock market drop however during the great recession what we saw last time that was not the case so there will always be outlived. Generally houses hold up pretty well number. Five inflation generally goes down so this is the upside of downtrodden economy economy. Prices generally do go down. So what does that mean for you well. It's actually a really good time to make a major purchase by a car. Get an appliance because all those folks out there trying to get consumers to come in and buy something so if you have the means and you're looking to make a good perk big. Purchase recession is actually a good time to do it number. Six employment goes up so according to the Washington Post the unemployment rate has risen two point four percentage points on average during the eleven recessions since World War Two so it goes up slightly but of course sometimes it could be worse. What was the worst since World War. Two was the last one the great recession unemployment went from five percent to ten percent on average. People were out of a job for six months so that's a good frame for what we talked about the Emergency Fund how much you should have and the way to prepare for this of course is to have the emergency fund but also keep your debt levels manageable because that's where people get in trouble to have high debt levels. They lose their job and they could no longer pay the mortgage or anything else so they they lose the house or they lose the car. So have the Emergency Fund and keep your debt levels manageable number. Seven employers reduce benefits so even if you are fortunate enough to remain among the working chances are something we'll get reduced. That's right. You may not get a raise. You may not get the bonus. Your 401k match might get eliminated. That's happened. Here is then the for kindly made up for it. Retroactively that usually does not happen so you'll see stuff like that. You may not have fancy holiday party at the end of the year might be in the conflicts in how we've done that too potluck instead of a fancy party downtown but so even if you do have managed to keep your job and most people will all you do have to expect that you'll probably have to tighten your belt a little bit somewhere another and number eight intersection stocks do go back up in the economy eventually eventually recovers so for those who have the cash on the sidelines and the guts buying stocks in the middle of recessions can actually be one of the best investments you ever made but you can't wait until the recession over is over because the stock market begins to recover before the overall economy but history has shown. US economy will recover you will be able to go back to the Fancy Politics Party at the hotel downtown and stocks will eventually they will recover and reach higher
"credit rating" Discussed on WMEX 1510 AM
"Many times have you miss pronounce words on the lead lead in the you've got the guys his were married you said like so many things that sounded to him as i was listening to and i'm thinking of how are we learning rooms i sent athletes every day it will matter you can only fall so far don't worry about it and i'm you're right that you guys isiro right yeah you guys have this jazz guys keep doing it to me your iq is like my credit rating it can only go so low all that's sad does it get it hold on a second so jokers lynn you sitting in for a little bit you a punishing me matches synnara look stupid warrior actually was pretty good one i liked it or matched by your job thank you now you're going to agree with them no matter what you were to go on hold yano you your as bitch so you're going to agree with them no matter how you can go we've there what call friends yeah exactly oakley cut we agree with each other market when you're walk in on the hallway but that's a different subject what does that mean ling has what does that mean you in prison when you arrive someone's bitch youhana pocket where you would know one year i don't know you've been to jail before if you could yes i have plenty of time what's your point of you've been there multiple times yes i have a little time and we'll plenty of times the way to say it fancy you moron isn't enough entity legal wanna be arguing with a handicap verse meddling and began in i don't even want to argue with you guys right now as you are there but you guys you're the waste out or no the whole first segment of the show sydney are doing absolutely nothing do you have anything ready to go we we actually do but the problem is we don't have anything we asked you four that's the point of this it's a good one thank you cuba appro i don't know what he has asked before she hasn't asked me for that 'cause you have check your text messages yet yeah brian unit nagging thought right be let me to text messages one i got both of them and did nothing with either yet neither friday show after another group tax.
"credit rating" Discussed on BizTalk Radio
"The financial reports of all these companies ansett if reading them all day long as a warmup for those for her to help drive ask not what i do yes i prefer to let the computer do a lot of my work forming but it makes it much faster variety as it because the monument resists thousands and thousands of bonds tasty and it would take me a day or two to his financial reports or hide and even find the bonds in in the reports and find the debt service all that stuff but morningstar has so many ratios on the companies they keep track of so many financial ratios that i can find just about any ratio on you and a book price to book when things like that are in there and on bonds i was shocked when i found the bond or in there because i did even know morningstar tracked bonds but i was surprised when i opened my monster sharper himself bonds all bonds in the us publicly traded bonds in the us in their nose like this is graces a gold mine uh and they started screen highyield bonds and in its it's really a wealth of information because the credit rating doesn't tell you everything about a come rioted opt ugly very misleading yes and so this coming that is referred to as willing as company could be ribbit another company whose earnings in profits earned him in steady decrease in they could still be rid the same as forced credit rating companies go there to entirely different in a situation the right as i said they're not the same situation same boat by any means but the karine agencies might have listers design in this happens law i'm there's that i and drug infants companies and jump on her either on their way down to speak but there's also companies on the way up bribe in that arena and yet remembers the latter they works both directions the jewish rate of companies going both directions we want to find the company's officer moving up on the credit rating in they're doing better and better performance wise and his credit rating just hasn't caught up to.
"credit rating" Discussed on KMJ NOW
"Had that you were the businessman that was on the on the council and really helped hold people's feet to the fire and when and and of course a lot of credit to your predecessor ashley swear jin when so many cities here in uh in california were facing bankruptcy and some even had to file that and did know which way were going fresno remain strong through that and i think it was because of your position on the council her position as mayor but you've been able to carry that through through your first year and we'll we went to a very difficult eight years in the first six years we went from literally being one payroll period away from bankruptcy we had a jump bonn credit rating we had time magazine back in 2012 an article the next city to go bankrupt fresno california will we be surprised if we didn't go bankrupt and the foundation for my administration was late as in the many legislative acts i wrote primarily focus on fiscal responsibility and earlier this year we had a credit up grading by two major s p and they got the other one ditches that race fresno to a credit rating in that credit rating was based on billion reserve a 24 million dollars pena thirty six million dollars an internal loans reaching an agreement with our labor unions in a lot of good paused of the very strong fully funded pension system one of a handful the entire country and that credit rating increase allowed us to refinance about one hundred fifty million dollars in bonds and since i wrote the policies we didn't extend the duty you simply took advantage of a lower interest rate the resulted in a forty i'm sorry at twenty savings the city of oh that's one of the advantages to have in a very sound fiscal ship and when i did the budget issue i didn't do a one year budget because my predecessor started a process of two in five years i essentially laid out a 10year process set within by the time i leave in eight years our debt annual general on debts going to dropped dramatically increase our tax base to vigorously economic activity job creation and would change would transform the city of fresno from always being millions of dollars short not having.
"credit rating" Discussed on WDRC
"Debt ceiling at all now now if you're pillows assault security medicare which was a complete lie completely i know what he called him out on the live but it was a complete utter why and then one of the other good wants to was john kerry john kerry going on acting all irate on the news programmes because snp and moody's downgraded our credit rating as a nation because of the debt ceiling debate they still use it that is that we gotta be careful when we we don't want our we don't want our credit rating to change let me explain to you what a lie that is the credit rating agencies are a joke okay s and p moody's fetch there were a joke you can buy your own you buy ratings how was it they're all of those videos and all his mortgagebacked securities how do they get triple a credit ratings when they were filled with nothing but garbage loans that's because the pig brokerage firms paid them for that rating judo thank you don't think that that the obama administration called off snp and moody's hazard no euros reduce river goodell raiders nokia slow but flew put pressure on people out there to stem adequate earning and i'm gonna get that credit card back for exactly what happened you know people again we have to understand these people for who they are and what they do this is tom i i've likened i like and our our debt situation as a nation have likened it to child abuse some say it what it would so that there's some of those ridiculous uh was maury povich museum of the other guy there i forget they got those ridiculous shows that they bring people on so you bringing a appearance on the program who have destroyed their kids credit and took out credit cards and their names and rung up the credit card we keep putting this on our children's bill it's sad what true but that is exactly what has taken place so yes do we need to have a discussion about this do we need to contain spending yeah but hey this is both sides of the aisle you've got conservative republicans they're saying how are you know what.
"credit rating" Discussed on Security Now
"Brokers to put public interest ahead of profits the security of this industry will never improve without government regulation anyway so he could would number seven we need effective regulation by data brokers number eight resist the complaints from the industry that this is too hard he notes that credit bureaus and data brokers and their lobbyists our trade association representatives with that and they're traders social representives will claim that these measures are too hard he says they're not telling you the truth he says take one example credit freezes this is an effective security measure that protects consumers but the process of getting one and of temporarily unfreezing credit is made deliberately onerous by the credit bureaus why isn't there a smartphone app that alerts me when someone wants to access my credit rating and lets me freeze and unfreeze my credit at the touch of the screen too hard hardly today you can have an app on your phone that does something similar if you try to log into a computer network orf so when tries to use your credit card at a physical location differ from where you are he says moreover any credit bureau or data broker operating in europe is already obligated to follow the much more rigorous eu privacy laws the eu general data protection regulation will come into force requiring even more security and privacy controls for companies collecting and storing the personal data of eu citizens does companies have already demonstrated that they can comply with those more stringent regulations.
"credit rating" Discussed on BizTalk Radio
"I can punch in my computer a concern when he began by interest of veteran on us for the ride west excerpt me six or less or whatever and morningstar spitzer i'd have forming wait lead gagged of all these companies and so if they're reading him all day long as a warmup for those without i ask not what idea i prefer to let the computer do a lot of machine much faster variety as it because the monument resist thousands and thousands of bonds tasty and it would be a day or two to others financial reports or height and even find the bonds in home in the reports and find the debt service all that stuff star has so many ratios on the companies they keep track of some answer ratios about any ratio on even the gbi there and on bonds i was shocked went on at the bondra in there because i don't even know monks are tracked bonds but i was surprised by open among stripper himself alba in the us publicly traded bonds in the us in their nose leg greatest gold mine swing highyield bonds and in its it's really a wealth of information because the credit rating doesn't tell you everything about a come riot it opt ugly very misleading yes and so this company that has referred to as willing as company could be rabe with another company whose earnings in providence in steady decrease in the kazam as force credit rating companies go there to entire in a situation the right as i said they're not the same wednesday imposed by any means but the credit rating agencies might have as desai in this happens law i'm there's that i can drug infants companies in jump on her either i don't think there's also companies on the way up bribe in that arena and yet remember actions the jewish rate of companies going both directions one to find the company's opposite moving up on the credit rating in they're doing better and better performance wise his credit rating to them yet this is what you're looking for in says goes back to efficient markets now this is doc is deficient that everybody has all the information that renault's in french on stock worth it there's no avenged we gained by trying to buy individual stocks the right rush the market don't born buffet but because they will believe that permit for some reason anyhow in lena the.
"credit rating" Discussed on Bloomberg Radio New York
"Statement coming out of it but can you tend to see a lot of uh motherhood statements about what would be ideal clean lowcredit you steady growth grade that type of thing the reality is whether you can realistically achieve got cool mean currently the credit intensive growth how come down in the past year and i think that is encouraging it a critically big macro sex radical through the credit rating still the caribbeans at that occurring more slowly so you can you can look at on the glass how pull up empty depends on your your bias richard speaking of quality of course i want to get your thoughts on this and that this might be a bit more existentialist really so japan for example you look at that country inflation was out earlier very wealthy country arguably provides the highest quality of life globally worse demographics of course in the world that said it doesn't need a lot of growth so my question is is it worth the risk of the bot stain on his ultralow loose monetary policy experiment there when everything is fine anyway everything is fine but of course they do have a terrible domestic political problem when those are not going away and again come soon possibly they're going to worsen glow inland they're gonna worsened let the demographic the mediumterm and that's why these reports about thinking of a delay of an xl tech told me of a concern because you don't need to do anything urgently but you do need to have a general drift towards so putin and you can't rely on the boj forever two two by the bombs apply so i think the thing comfortable but then not necessarily sustainable and i think that uh that the big difference between the two so when you evaluate the level of the geopolitical risk in the asiapacific right now are things better than they were a year ago or are we are definitely in a in a much worse place no matter the word about geopolitical risk by the way i think market 10 to overreact you've done a lot of play on things going on in uh in north korea but ultimately it probably doesn't really matter to the world economy and it probably not a to the markets either so realistically federal wilson a year ago i don't really care right way the bank of.
"credit rating" Discussed on WBZ NewsRadio 1030
"A vote was it one in three one in four americans had there serious they're serious information breached and this and if you know if you find that give credit card issues do this and you should check your credit ratings in i despise as credit rating people um i suppose that if you want to borrow money banks lenders have a right to know about your credit rating but he goes too deep now what if i am what if i have a bad credit rating 'cause i don't borrowing money because i am responsible how about that that's my situation i shouldn't have to take out loans and pay them back just to establish credit is she issued share you i dunno i don't know the man any money at should count and then further than that you can be employers potential employers look at your credit rating really what if what if my credit rating a bad because of uh some catastrophic situation that i had it was beyond any control had to borrow money why should that count against me in an an and potential employment situation so that's that's there's a lot of ugliness these days and that is one thing i believe that if my the integrity of my personal data crucial that alike birth certificate or my since number or that kennedy thing this compromise i should be able to sue uh on that along do you would you agree does not does this not bother you i know some you don't even have computers because you're concerned about this kind of thing well then i didn't see it they'd i don't know if they did or not i they had better be offering meet free credit monitoring service as others have in the past for this but frankly if you can't keep my information safe the you should be out of business and he should be put out of business because you got sued out of business are your entire all your assets should be liquidated and divided up among the people who security was breached that's why i am at.
"credit rating" Discussed on BizTalk Radio
"So this company that is referred to his willingness company could be rabe with another company whose earnings in profits are in steady decrease in there could still be rid the same as forced credit rating companies go the to entirely different in a situation derives i said they're not the same situation same boat by any means but the credit rating agencies might have melissa's to say in this happens law and there's and i can drug infants companies and jump on her either on their way town so to speak but there's also companies on the way up bribe in that arena and you remembers the ladder they works both directions the to a street save companies going both directions we want to find the company's officer moving up on the credit rating in they're doing better and better performance wise and who's credit rating just hasn't caught up to them yet biscuits which looking for and so this goes back to efficient markets now that his stock markets efficient that everybody has all the information the renewal infringed on french honesty akg with it there's no avenged we gain patron by individual stocks rushed the market don't tell him on hill and warren buffett um but because they won't believe that permit for some reason anyhow in the bond arena the bond arenas tremendously inefficient there's a dearth of information because most bond prices aren't even published nobody talks about bonds on the news notice because bonds on cnbc no muslims on talking about upon on cnbc i'm the i don't remember them every talking about the us got downgraded yellen us the beckoned fourteen or fifteen years cadaver at uri has left him heard them talk about it but they just don't talk about bonds because they're not glamorous but in this arena you can may ten or eleven percent per year and know what your yields wound to beat a maturity i like that because with the stock what do you know when you know which can make on stock tracy would install it the after his now when you buy right now nearby and so that's one of the dangerous good points when he started to all time you know what you he'll completely how to make money with junk bonds will send you a free copy of an nra cheat on our vaughan's if you.
"credit rating" Discussed on KHVH 830AM
"Businesses but at a branch off into residential loans it seems to me that would be a business it's a it's a segment of the lome those jan explained it to me yesterday the it's a segment of the sba that deals with disasters so at the not so much business zysman that's just people at suffer a loss and disastrous mercer they have affirmed in the sba in order to assist those picking up the sba is there on their in florida and tux noah l l s b a is it's not a nonprofit correct otago government agency so they can make money on the interest that's okay right and i think that diet soda schlesinger banks also got to bother no one small business loans those the the sba facilitates those but the banks actually make the laws so here i'm a presumably the banks make some money off the hook trust your but how does the bottom line though how the disaster laudatory up but my concern or the concert but question would also be qualification uh it'll which which credit rating what uh what he half dini collateralisation do you need something else because folks that are front they're funny the cells and rule situations where yana how does that work on i'm assuming that is some of the insurance covering their lodging and how does he does his his yawkey if you didn't have insurance little are you would think a lot in a wider slaughter rubbers don't have shelter have renter's insurance uploaded about muscle delta all of them dog so even if you do there are limitations mean right the amount uh the the minimum that many landlords may require is going to be far lower than what the damage was while yet they're saying that they're still not looking at actually letting people get back into the unit now they have to check out that structural increase floors uh because we have that much heat could damage to concrete and the the.
"credit rating" Discussed on As It Happens from CBC Radio
"Well the optics aren't very good are they um i certainly can't speak to the intent of the executives uh i have to take them at face value but i do admit that the optics are quite bad here i know d e you mentioned it the whole this is a credit bureau and other people for consumers i mean they they need to rely on these bureaus ziege the other companies that will with you want to get uh apartment going to run something he wanted to get some credit do you need to go to an eco sacks were company like that in order to get your record two proves to be a to someone that you have a good record so people are really stuck aren't they mean there is no other way of actually getting this kind of credit rating no i mean there are three primary credit bureaus at least in the us and we can hope we've due to credit reporting laws we just really don't have a lot of options in terms of in other words i did not personally choose uh akwa facts uh as a business that i'm giving my information to they are going to get that information because their credit reporting bureau and third the credit system is is fairly similar and other countries and you know the credit reporting bureaux no matter what country they're in at or operating and have a profound duty uh to maintain our information in a secure manner because again this information comprises the building blocks of identity and we can't avoid this harm we really need to in order to be fully functioning um member of society and purchased you know cars or lease cars are rents an apartment or buy a house or you know have a credit card or opened a bank account we are going to have to interfere with credit bureaus.
"credit rating" Discussed on KMOX News Radio 1120
"Um financial education which is still lacking in this country so it with my 17yearold in my twenty year old i try i don't know if they listen i try to take the opportunity to teach them about some of the things that are going on with money whether it's stocks war savings or buying a house or credit rating and i think that's important because maybe they don't learn enough about that in school but you've kinda put a nice little summer reading this together not necessarily for younger people but for everyone have you yeah i think it hard sometimes you know and i don't expect for people to you know i'm looking at my own book case here and so i just want you to know that you know i have all the books that i mentioned that are in my book case but i also have something that's called futures options and swaps or the options strategy spectrum or you know like i don't expect anyone to do that that's just too much and for mortals but i you book here that will give you a real insiders look at some con sets and some stories that have shaped where we are today in the financial world so one of the books and i love michael lewis in i did read money ball and i did not read the blindside but i've i've interviewed michael several times he's got a new book out doesn't it yeah i love this book it's called the undoing project and eight really cool he won and to explore the route to something called behavioral economics and essentially that's luke taking into account the idea that the decisions we make we think we're rational but we're not so it's like one part economics but it's also one parts psychology and he does the great justice of the of the concept by talking about the.
"credit rating" Discussed on Bloomberg Radio New York
"Agencies have being folded but it's not clear how much has changed was really the number of my peace while you're being diplomatic about it said so we are we appreciate that i won't be because this thing about paying for raiding i'm wondering if you could explain that the people how that works and you don't win businesses not only when you're thinking of investing in a business bermuda thinking of buying a business particularly if it's a large business in it has lots of relations financial relationship they're going to go out and they're going to get a rating and they're going to get a rating are there from you on maybe even an insurance company and then they use that rating because that's part of the sale process speak about how people pay for ratings we voted capsulated the issue of very well basically since the 1970s a mortal in which the barbara dis the credit rating and then the creditor agency itself a dozen assessment it's a supposed to be independent about its credit worthiness a kicks in a lot of dot has obviously come under a lot of criticism what's interesting is there have been new credit rating agencies that have emerged on the scene which have tried to go on an investor pays model in which subscribers to the credit rating pay for the rating in that issue itself dozen pave the rating to try and reduce perceived conflict of interest interestingly that hasn't really got off the ground and none of investors there is a free writer received a little of the rating agency information rating in mason and rating itself can be consumed by third party he turned provides in a day and contribute financially to the cost of that rating and so we've seen that model not takeoff same time the credit rating agencies argue themselves lit what we've cnas thought that's a very difficult model because ashley by reducing formation in the marketplace increase trading costs and there's a.
"credit rating" Discussed on Money Girl
"Credit is a really important topic in it's one that i didn't confuses a lot of people were not really ty what credit is or how to build credit in school or college it's just one of those things were expected to figure out and it's not complicated but there are some pretty key factors that help you bill credit in if you mess up pretty much any of them it's going to hurt you and your credit score so getting these questions answered for you is really important and and i hope will help you bill credit and if you've been listening to the show for while you are ready no that getting your credit up is can help you save money it's key to a lot of aspects of our finances and the bottom line is that the better your credit the less you pay for debt like credit cards lines of credit card loans and mortgages but i think what trips a lot of people up is that even if you decide to never borrow money so let's say you never buy home you never buy a car you never borrow any money your credit rating still affects your finances let me give you an example having poor credit means you could be turned down by a perspective employer or even have an application to rent an apartment denied poor credit typically causes you to pay more for security deposits on different kinds of utility accounts like power cable and cell phone and credit is a major factor in the rates that you pay for insurance like auto insurance home insurance and renter's insurance in most states.
"credit rating" Discussed on WCPT 820
"Back you know there is one of the things that i wanted to mention i'm coming your bones guys i forgot to mention this when i was talking about the budget neil annoys school funding et cetera after the end of the session this past week standard and poor's and moody's lowered illinois use credit rating we are now one notch above junk bond status that's where we are we are the worst we have the worst credit rating of any state of the union we are the worst and here's something to think about every time you lower the credit rating he interest rates go up when we go to market when we go to market for bonds to sell our bonds we have to pay a lot more in interest at who's making money guys and boost rohner's position they're sitting out there and when these interest rates go up when they're raking in the bill because they're taking bigger lending the state and and state agencies and city agencies more those people are making more money via the taking more risk but they know that they don't have to buy the bonds they don't have to buy the bonds are going have to linda illinois any money but there's a profit in that i'm in huge profits if you're if you're buying those bonds and and and guys like british runner before he became governor we're profiting from higher interest rates that's the business he was in you think he's not helping his billionare buddies the people who are out there saying oh rowohl junk bond status how much more can we raise the interest rates how much more can we make by linde eleanor and the only way when you don't have a budget when you have an impasse like the city of chicago what do you have to do to thrive you have to borrow you have to go to market you have to sell it to sell your bones and who's reaping the prophet think about that think about that i mean what what motive does the governor have to have a budget he keeps talking about business opportunities we're gonna encouraged eleanor growth he's already increasing the growth for those vaughn dealers for those people who were in the financial industry there is a prophet in that okay let me come back to the phone calls i'm trying to come with the people.
"credit rating" Discussed on WDRC
"That you have a very high credit ratings at right no okay well the article of bad credit or more people who have no curb because i've never credit out on everything okay well i think when you apply for a mortgage that that will make it more interesting than it would be if you had a high credit rating or good credit rating but i certainly would encourage you to try to go down that road if he can and if you can get a mortgage was what's left over after you've purchased the things you wanna buy in and also put money down on a on a property and put the money aside to get that property the way wanted a anything it's leftover yeah i think it would be a good idea to become an investor uh now um here not working at this time right dr gray she might want to take a look at the possibility of developing an ira account ono you won't be able to do that without without earned income are you might be able to put together a portfolio though and here's the thing here's the thing on what you really think about and that would be your your tolerance for risk how much risk you are willing to accept in your investments i'm i'm not sure about that do you do you have an idea how much risk you're willing to take or all gonna go to the moon marla over our arben arbor cabral garage were remote hurry your well if you want to be secure if you want to be risk averse and you really don't wanna take risk then i would say of the closest to a secure investment would be a ladder of fdic insurance certificates of deposit because even though rates are low they are secure because they're a fully insured by the fdic and you would be within the fully insured limits and that way young a little bit interests but more importantly your money is secure and um you really not at risk of loss at that point because you're fdic insured so i give some consideration to that so long as you believe you really want to take any risk two i thank you for the call we wish you the very very.