20 Burst results for "Detroit Bureau"

"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:21 min | 10 months ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Bloomberg Television and Radio. I'm David Westin President Trump last night, once again criticized Mission Governor Gretchen Whitmer for her actions and shutting down parts of her economy. In response to covert 19 for a sense of the reaction within the state of Michigan. We welcome now are Detroit bureau chief. He is David. Well, so, David, welcome. Great to have you with us. So we heard President Trump said that Gretchen one way too far. Really? She's very unpopular. How popular is she in the state? Approval rating has been a pretty solid 52% all the way through this whole thing. And Trump's approval rating in the state, in particular, has ever waits to Coburg responses around 41 or 42%. So Suppose she has been beating him in terms of popularity. There is a very loud, very vocal group that really did not like how she him of this, but it is Republicans in the state House, but a lot of it socially speaking. We're some pretty hard Greg when groups that I'm seeing it for guns to the statehouse and that sort of thing, so I really know the general populace in the skate. Her approval rating has been selling and any indicator and should Biden's in on the pool anymore. From 7 to 10 points in Michigan today, because his sense of the voting and how it's going, we're hearing so much early voting absentee ballot mail in voting around the country. How's it going? How's it gonna break down in Michigan? We have a lot of actual voting going. I think it's already almost doubled the total from the last selection West. I look there almost two million early votes cast and many more. How about down applied for and I think last time I was actually 1.4 million, So it's not quite more than double, but it's a lot more than the total number of pride for its double. It's a lot of the bottom line. Um, I think there's benefit Democrats because a lot of Democratic voters wanted to the mail in ballot also knows anyone. Bayliss I think it's four times the number of young people have applied for them compared to 2016 and Trump doesn't do as well with people with voters who are 35 under so And to consign for Biden heading into the last week and a half for the It's interesting young people showing because some concerns were that we wouldn't get as many young people voting because the college campus which a pretty prominent Michigan they weren't up and running. Look a bacon Malin. I think they'll happily do it. But I think what you think about young people. There's a shopping online. They're they're not used to having to be. They have very good places to get things done. Maybe that carries over into voting, and now they have an option where they don't believe they're part of another house to do it, And that seems to be what's happening. Just get those numbers. It's fascinating. Thank you so much really appreciate you being with us. That's bloomers. Detroit bureau chief David Welch. You'll be part of our coverage on Election night, Tuesday, November 3rd that was started. 7 P.m. Eastern time Coming up, Join us for the second hour of balance of power on Bloomberg Radio. This is Bloomberg. This is a.

President Trump Gretchen Whitmer Michigan Detroit Bloomberg Television bureau chief David Westin Biden Bloomberg Radio Bloomberg David Welch President state House Greg Bayliss
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:02 min | 1 year ago

"detroit bureau" Discussed on Bloomberg Radio New York

"To give us a preview. Welcome. Now are Detroit Bureau chief. He is David Wells. So David there during war Michigan, not necessarily a standard stop for a vodka truck. Were they looking at? We're looking at a training center that GM built there about $2 million for about $2 million trains, full skilled trades workers and some celery engineers, so really people on the technical side of things And this's important really, for both sides. The Trump administration came to power in 2016 and one of their Key areas of focus on one of Trump's promises was to rebuild manufacturing any specific guy on the auto industry, so MGM did him big restructuring last year. In the end, taking out about 11,000 jobs closing what for US plants in one in Canada, Um, trampoline in like that. So G M's been kind of in their doghouse ever since. So this is an opportunity for Mary. But, hey, look, training workers, and we're putting money into Michigan and into the United States, And there's a chance for the Trump administration. Teo say that they're getting something done in the auto. It's fast thing, David. There's been something if you say as a love hate relationship between Donald Trump and Mary borrowed up and down and back and forth at the same time, it's not clear to me that Mary Barra has changed her direction much no matter what the president has said. No. Look, Uh, Lordstown is still closed. And so it was a small transmission plant in Warren, Michigan, where Ivanka Trump is today and another plan in Baltimore. They have, uh, technical jobs in war and for things like battery electric vehicles and self driving. Vehicles. But in terms of manufacturing not so much building a battery plant in conjunction with the battery partner for the electric vehicles in Lordstown, But those jobs will pay a lot West. So the didn't and so far on an union plan must taken organized. So it's not a big victory for the union. It's not a big victory in charge of, uh, manufacturing wages necessarily because it's basically it's supplementing lower wage towards town jobs are higher wage with lower wage jobs. But is longer there. Training workers may be the Trump Administration is going to try to make a bit of hay out of this G m A. What? Not hired more. And David finally here quickly at the end, Going cross the road to Ford. We have a new CEO coming in, and we had enough sort of 1400 white collar workers being laid off. Is that a surprise to you? No. We've been waiting for this protection People $11 billion cost cutting program if they've had for some time, this is 5% of the salaried workforce. It follows what GM did about. Action. Jean cut what I think 8070 workers get powers, which he ended last year. But you're going to see more of this. Not just because of Kobe's gonna push things along because the industry's kind of in a slump, too. Okay. David really appreciate your being with us. That's David. Well, she's blue. Bloomberg's Detroit bureau chief Coming up bounce power continues on Bloomberg Radio and our second hour we're going.

David Wells Michigan Ivanka Trump Donald Trump Trump Mary Barra GM Lordstown Bloomberg David United States MGM Teo bureau chief Detroit Kobe Bloomberg Radio Canada
Disruptive trends that will transform the auto industry

Bloomberg Markets

05:43 min | 1 year ago

Disruptive trends that will transform the auto industry

"Us let's shift gears to the auto market we got Tesla I'm very much in the forefront yesterday at with an incredible surge in share price then today we're seeing an incredible plunge on the other side of Ford shares down more than ten percent one point now nine point nine percent declines General Motors kind of hanging in there with so little decline after being up earlier this comes on the heels of reports that show what the challenges for an industry under profound transformation joining us now David Welch Detroit bureau chief for Bloomberg news to David can we start with Ford because this is now being compared to a company with the lan must like problems without the eleven must but level of belief and faith from shareholders really is I mean if you if you will and were also was three years ago they couldn't get the hose out on time they had some quality issues with their SUV the model X. every planet you on most put out there would be six twelve months off schedule they were kind of refurbishing some of the assembled cars out in the yard it's not quite that bad it forward but they've got an explorer that they state they can't get out on time event all kinds of production issues there this shouldn't be happening at a company like for one of the advantages that the established automakers were supposed to have over Tess was that they they have vehicles new models out out of pure muscle memory it just happened there were occasional gap circadian room in and we still have been recalls but they didn't have stuff like this and and so this is one of Ford's problems sales of warranty costs ticket TTL fifty two on their profits in the quarter so these are all these are all very bad things it should just be general execution and things of that this just smoothly happen for a company like Ford so what is the thinking behind this focus on Ford but those production problems as blocking and tackling issues we thinks cause them here because again you're right a company like a Ford it's you know been doing this for so long should have this part down displaying incorrectly why this is happening CO active said told journalists that he had every confidence they can they can get their execution back somewhere in there they just took their eye off the ball on this thing and who accused the things to happen right we had a big recall a few years ago from Toyota with the GM ignition switch issue so the big companies are not immune to this sort of thing but this is kind of more even more basic just getting a new model particularly important one like the X. four out the door on time to dealers and customers post explain it other than the it's a big gap on their part so putting Tesla side because it's been a it's sort of round trip consider not round trip I mean it's it's off with a bunch today after yesterday's run away gains in the share price there is a question is this the best bet if somebody wants to wager on the future of autos as a tech item as also a E. sort of vehicle so to speak for the electrical battery which is going to be key in any kind of new economy is that the best bed or their other auto companies that are investing similarly with similar success in the electric battery industry of burning question and if you look at Tess of right now the market is saying that if the tech company attacks started to grow the company and if they've got the best technology when it comes to work for vehicles in the moment it's hard to argue the phased out the bad their cars have the longest range which means they can go the furthest on a single charge they also have a really good electric motor we we did a piece last year I would again insanely mineral tore down a model three and really ripped apart the battery the orchard motoring and he said they have is for the best electric drive system any compared to GM BMW know if these other companies I think we'll we'll catch up in terms of battery performance and and they'll get there the other thing that also has that was brand the pencil branded extremely powerful it's almost a cold and then may also have been doing other things that are tech related in their cars that set them apart they have over the air updates that can actually boost the speed of the vehicle with the model three they had heaters in the rear seats and didn't tell anybody and then one day they just turn them on with an over the air update and awaited customers by saying guess what Germany receipts space so we've been doing stuff like that that really does make the car smartphone and I think it would scare me if I'm running one of the big conventional car companies is that houses cars have become the iPhone of yeah or if your vehicles and until somebody else comes up with an android type of of rival to what Tess was doing I think they're going to rule the roost it's a great analogy that kind of brings it into focus here David wells Detroit bureau chief Bloomberg news on the phone from our Detroit bureau talking about that numbers coming out of Detroit today Ford again that down about nine and a half nine did have ten percent Tesla also down about thirteen fourteen percent give me a little bit of some of that surge we've seen over the past a six seven days in particular just amazing so again this is a transformative time for the auto industry is David was mentioning as the electric technology electric vehicle technology is developed and obviously is today was mentioning Tesla has that brand has that first mover advantage reminds me a little bit of Netflix what it did to the traditional media business having it first mover advantage having that brand the traditional companies here the traditional car companies need to figure out a way to prohibit their company to compete in this New World a

Tesla
Tesla’s Cybertruck Tries to Make a Dent in a Tough Market

Marketplace with Kai Ryssdal

02:00 min | 1 year ago

Tesla’s Cybertruck Tries to Make a Dent in a Tough Market

"If you're driving right now around at the other vehicles on the road mostly big big pickup trucks and SUV's I'm guessing combined. They now account for nearly seventy percent of the market but while American cars face a lot of competition from Europe in Asia the pickup market is still dominated by Detroit which could make it tough for Tesla muscle in with its new. Cyber Track Marketplace's Jack Stewart reports reports. Ford sold over a million F series pickups globally last year. They've been America's best selling vehicle of any type for more than forty years but there is a new challenger. enger welcome to this truck unveil. Musk tweeted the two hundred and fifty thousand people have already put down. A one hundred dollar deposit for Tesla's cyber truck best description. I've heard of it an angry looking triangle he pitted it against the Ford F.. One fifty and comparisons at the launch last week week trucks have been the same for a very long time like one hundred years and people are cool with that. Trucks are large and growing parts of the US vehicle market says Tom Libya IHS market. We've seen a major gain over the last ten years it's about fourteen to fourteen and a half percent of the market now. Iron BRAGMAN IS DETROIT. Bureau chief of QASR DOT Com. He says Ford Chevrolet and Ram Dominate Sales. They have strong brand loyalty and they are knocking to give that up the proper pickup trucks trucks are massive and we're seeing the actual average transaction prices now climbing above fifty thousand dollars other than Toyota which sold two hundred thousand Tacoma's last year competitors. I am not making much headway but says Jake Fisher director of Oto testing consumer reports. They're not really playing to win. While turtle may be taking the camera camry very seriously and their their cars seriously. I think it really comes down to the domestic. They're taking their truck seriously. That's where they're putting the technology into technology. Yeah of course is Tesla's biggest selling point. It's hoping that's enough to make a dent. I'm Jack Straw.

Tesla Ford Detroit Musk Jack Stewart Jack Straw Europe United States Ram Dominate Sales Bureau Chief Tom Libya Toyota Jake Fisher Camry Tacoma America Asia Chevrolet Director Fifty Thousand Dollars
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:05 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Next year. Handgun sales already limited to people twenty one and over. I'm Evan Haning. And I'm still Snyder from Bloomberg world headquarters as we've been reporting shares of tesla took a hit Friday after an SEC lawsuit raised questions about Elon Musk's future. At the electric car maker the agency accuses Moscow of misleading investors with his tweet about taking tesla. Private David Welsh is Bloomberg's Detroit bureau. Chief really the national brand is. On Moscow art of the things that we've been talking about over the past couple of months. The fact that he tweets out major news about the company in this case very misguided way of doing it. But some of the product loose-knit sorta thing his fans while they have a direct connection to him. Right. The pot-smoking on a webcast. He's a rogue CEO. He's the end to do to Toyota or the General Motors. And that's one of the things that that the people who of the cars have about him. That's Bloomberg's Detroit bureau chief David Welsh, Google, CEO Sundar Pichai has accepted an invitation to meet with President Trump at the White House roundtable about internet issues. Mr. Trump has accused Google of rigging the results of its search engine to suppress conservative viewpoints CVS says it's been subpoenaed by New York City prosecutor for information related to sexual misconduct allegations against its former chairman les Moonves moon, that's resigned. After a dozen women came forward he has denied any wrongdoing. US mortgage rates are up for a fifth straight week. Here's Bloomberg's Charlie Pellett. Forty max says the average rate for a thirty year fixed mortgage now four point seven two percent up from four point six five percent. The previous week now the highest since April of two thousand eleven the average fifteen year. Right now at four point one six percent from four point one one percent rising rates Herat because the cost of home ownership after years of soaring prices that have outpaced income gains. Charlie Pellett, Bloomberg radio. Global news twenty four hours a day on air and tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Jill Snider, this is Bloomberg..

Bloomberg CEO Bloomberg world David Welsh President Trump tesla Google Charlie Pellett Evan Haning Moscow Elon Musk Sundar Pichai Twitter Jill Snider bureau chief Herat SEC Detroit
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"October fifth. I'm Evan Haning. Jill Snyder from Bloomberg world headquarters as we've been reporting shares of tesla took a hit Friday after an SEC lawsuit raised questions about Elon Musk's future. At the electric car maker the agency accuses Moscow of misleading investors with his tweet about taking tesla. Private David Welsh is Bloomberg's Detroit bureau chief really the national brand is Moscow. Art of the things that we've been talking about over the past couple of months. The fact that he tweets out major news about the company in this case very misguided way of doing it. But some of the product news net sort of thing his fans while they haven't direct connection to him. Right. The pot-smoking on a webcast. He's a rogue CEO. He's the antidote Toyota or the General Motors. And that's one of the things that the people who of the cars over about him. That's Bloomberg's Detroit bureau chief David Welsh, Google, CEO Sundar Pichai has accepted an invitation to meet with President Trump at the White House roundtable about internet issues. Mr. Trump has accused Google of rigging the results of. It search engine to suppress conservative viewpoints CBS says it's been subpoenaed by New York City prosecutor for information related to sexual misconduct allegations against its former chairman les Moonves invest resigned nine after a dozen women came forward he has denied any wrongdoing. US mortgage rates are up for a fifth straight week. Here's Bloomberg's Charlie Pellett. Freddie MAC says the average rate for a thirty year fixed mortgage now four point seven two percent up from four point six five percent. The previous week now the highest since April of two thousand eleven the average fifteen year rate now at four point one six percent from four point one one percent rising rates Herat in the cost of home ownership after years of soaring prices that have outpaced income gains. Charlie Pellett, Bloomberg radio. Global news twenty four hours a day on air adak tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Jill Snider, this is.

Bloomberg Moscow Bloomberg world Toyota President Trump David Welsh Charlie Pellett bureau chief Detroit tesla Google Elon Musk Jill Snyder Evan Haning Jill Snider Sundar Pichai SEC Twitter Herat
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:38 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Now we do have tesla shares trading lower their down by about one point, nine percent David Welsh is Detroit's bureau chief. He was on Bloomberg television, swarming talking about tesla I think we're, getting some. Mixed signals here but the bottom line is he doesn't. Really want to step aside probably thinks he really. Is the only one, who can. Who can do this who can we the, company through model three production getting that up, to, speed hopefully. Getting the company profitable and cash flow positive is he is predicted. Would happen in the second half and also eating it through the take. Private effort then. He's got and again tesla is lower by one point six percent PepsiCo. Bind fizzy drinks dispenser sodastream international. For three point two billion dollars shares of sodastream getting up pop they're up nine. Point four percent PepsiCo count by two tenths of one percent tenure of ten thirty seconds yield two point eight two percent we've got oil up seven tenths of one percents sixty six thirty nine of barrel. As for gold is up three tenths of, one percent I'm Charlie pelletan that is, a Bloomberg, business flash and thank you, so. Much Charlie Pellett so there's. Been a lot Taylor Talk going. On in the markets stay and One of the biggest topics right now is around Jay, Powell and not so much j. Paul himself but. What the president thinks about j. Powell's fed so I wanna start there with, the boys who just walked into the studio Joe Weisenthal markets editor of Bloomberg news and co host of course of what you missed. Coming up at three thirty Wall Street time. And Dave, Wilson stocks editor for Bloomberg news so Joe this is a story that. Is now, by far the most red blooberg. I mean read spiked all of it bureau there's so many layers of the story of Trump being out in the Hamptons telling his rich donors that he regrets that. J. Paul isn't an easy money fed chair so one president of Bloomberg exclusive point Humbert. Great reporting by Jennifer Jacobs insulate HMOs motion so here's all the layers that I like. One Trump complaining about his own fed chair he's done in the. Past that continues debts great to doing it Rich people in the? Hamptons? And I'm not certain so don't hold me to this but I would be shocked? If in that crowd there weren't people who in the post-crisis period we're calling for higher rates and, complaining about the money's a lot of those guys. Were I'm sure of it I don't know specifically but I have no doubt, three I'm not even convinced three if he wanted like a dove he couldn't like what was he doing there they're all out there. But for I'm not even convinced and Powell. Is that, more hawkish than Yellen and specifically because Paul has said multiple times he's. Not that, he doesn't feel that strongly about. This idea that we're at full employment he doesn't see that much inflation so though he has raised rates this idea that he's done some big path that Yellen would. Not have been on yeah I don't even totally by that so I think I think. Trump should like Powell what about the bigger question about fed independence right because how rare. Is this that you do see president even commenting on central Bank Actions? Whether it be good or bad usually you don't want to comment at all correct Oh yeah absolutely I mean it is it. Is weird now one thing I'll notice that. We talk about it is though it's unprecedented it's not unprecedented, in the last several administrations it doesn't happen very much. Or it hasn't, happened, at all but it's not like. This has never been the case and you, know look the. President appoints the fed chair and so obviously there's an. Element of politics they're fed chair. The fed is a, sort of creature of congress today so there's element, of politics there I think it's. Unusual but the idea that it's totally out? Of Out of the realm of what plausible is a little little stretch so let's bring in Dave Wilson are stocks that are here Dave. Are you looking at that or you see another stocks, on the move today what has your I I'm just looking at the s. and p. five hundred just. In the last two minutes it's gotten to its highest level since, the peak back in. January, so, you. Know as, much as. Summer doldrums of. Kind, of descended I was taking a look at trading and exchange-listed shares down. Like sixty percent from what it was last. Monday so we're out of second quarter earnings season really with, some exceptions as stay up a little more than two. And a half, percent, after their results came out and. Were well received immediate it's a market that's, still manages to. Have some momentum here s and p five hundred heading. Higher ferns third day we're getting. Closer to that peak, from January and mean and that's saying something May just be that. The earnings that we did see were good enough to kind of give people confidence to come in and buy before you know we. Get into September we started thinking about third quarter numbers, so Joe before we get too far along I did want to bring in Venezuela which capturing a lot. Of attention as well especially in the broader global market yeah one, of the more confusing Currency moves to wrap your head. Around because there's two things going, on. Simultaneously there is a, massive devaluation. Which essentially alliance the official rate to the. Black market rates so that's probably a good thing because on, some level now there's your sort of one rate. The other thing is they're lopping off five zeros which is kind of like the currency equivalent of reverse stock split I guess it just. Makes it, a little easier to. Manage so instead of ten thousand boulevards. Whatever it's just a one I guess so, that makes it a little bit easier, there's a thirty five hundred percent increase in, the minimum wage but told me. To, thirty thirty dollars a month And then the the, party. I don't get it, all is. Somehow pegged to a crypto currency that really. Don't get well and that's the first time that we think, that a government has ever done this so yeah Like I. Don't think anyone really believes it in the sense that there's a meaningful thing because a stent. To believe the petro as. It's called, is backed by diamonds and gold but there's, no way to redeem it I would I would not. Put much. Stock on, that as, meaningful anchor for the value of the currency and yet it really. Is I mean just the actions themselves and. As you say so many different actions sort of, rolling. The market there all right Joe Weisenthal Dave Wilson you're going. To be, back with us a, little later on Joe. You've gotta run off into your TV show would you mess coming up at three thirty pm Dave you'll be back for your stock and chart of the. Day all right Bloomberg by the daytime this is good one we were just talking. About, it Exactly today's numbers three thousand yeah Venezuela's President Nicolas Maduro has announced dramatic measures as we were just talking about, to rescue a downward spiralling economy including a more than three thousand. Percent hike in the minimum wage the crisis in the socialist oil rich country is, result of years of economic mismanagement corruption and a. Global drop in oil. Prices favorite this number is unbelievable inflation could, hit one million. Percent this year one. Million. Percents that's. The definitely? Hyperion Hyper hyper hyper hyper inflation hyper to the 0 all right let's get a check of the latest world and national headlines Martin.

Bloomberg Dave Wilson Powell president Joe tesla J. Paul Trump Bloomberg television sodastream PepsiCo Venezuela fed Joe Weisenthal Dave Wilson Detroit David Welsh Yellen Charlie Pellett bureau chief
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:36 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Hong Kong and across Asia I'm Bryan Curtis in our Los Angeles bureau all this week. A very good afternoon to you And. I'm Rishaad Salamat in Hong Kong, let's look at how things are shaping up for the Asian trading day. Let's get it over to Bloomberg's Doug krizner Doug it's the Turkish they are just of go roasted but it allows five days eight has lost nine. Percent of its valley it's one of the things that sending a. Setting this negative tone in EM and they're all other. Political or geopolitical tensions that we should talk about we have the ruble at a two year low against the dollar this is after the US announced those, sanctions on Russia you indicated kind of a mixed. Picture for the equity market trading. Light with volume and the s&p five hundred about fifteen percent. Below, the thirty day average the Dow weaker by. Three tenths of one percent the s&p was down two tenths the NASDAQ. Could pick up about one tenth of one percent interestingly we had the. Dollar rallying quite a bit the Bloomberg dollar spot index was up one half of one percent offshore you one weakening against the dollar by about three. Tenths of. One percent long term interest rates were actually down, a bit onward US wholesale inflation Stagnated last month now. Supporting the drop in long rates solid demand for the treasury's auction of thirty year bonds the tenure last quoted in New York down to two point. Nine two percent WTI crude oil at sixty six seventy three Brian. All right Doug thank you very much our top story. This morning the tesla shares of about two percent in late trading that's after slipping about five percent in regular session some news reports have said that Tesla's, board of directors is planning to meet with financial. Advisers next week to formalize the. Process to take the company private Lindbergh's Detroit bureau chief David. Welsh, joins us now on the line David this. Story is moving very quickly now it's getting a little bit bizarre in. A sense musk said that funding was secured but it's not so clear. What do we know about that and should we even know about that Not clear at all and it's not even clear how much funding. Would, need to be in place or. Really what he means by that if you were to, buy out every shareholder and take, it private you're talking about. North of eighty billion dollars at? Least in the seventy billion plus range Current shareholders just decided they were gonna exchange their public shares private Shearson stick with you on stick with. Tesla at a private owner it could be far less it would, be whoever didn't want to do that and opted to take some kind of buy out Said that can be, as little as, twenty billion dollars still a big chunk of change but smaller than buying. Out the entire company so. We don't even know what the plan is we don't know who would go along and so forth Among the five or. So biggest shareholders have we had any indication that. One of them is interested in upping their stake significantly From them So much that they would Prefer to snap really think One dollars a share so selling it for, twenty years Private equity in west penalty About that yeah. Alright David thanks very much that's hard Detroit bureau chief David Wells joining us, here live, on Bloomberg daybreak Asia region Yeah that's good too big David Samson? The smother make unveiling the, galaxy, note nine right over in New, York very muggy Gherman was is that covering the big reveal today it's.

Bloomberg David US Tesla Hong Kong Asia musk Rishaad Salamat Los Angeles bureau chief Doug Bryan Curtis David Samson David Wells treasury late trading Shearson Detroit
Exclusive: Tesla's board seeking more information on Musk's financing plan - sources

Bloomberg Daybreak: Asia

01:50 min | 3 years ago

Exclusive: Tesla's board seeking more information on Musk's financing plan - sources

"Top story. This morning the tesla shares of about two percent in late trading that's after slipping about five percent in regular session some news reports have said that Tesla's, board of directors is planning to meet with financial. Advisers next week to formalize the. Process to take the company private Lindbergh's Detroit bureau chief David. Welsh, joins us now on the line David this. Story is moving very quickly now it's getting a little bit bizarre in. A sense musk said that funding was secured but it's not so clear. What do we know about that and should we even know about that Not clear at all and it's not even clear how much funding. Would, need to be in place or. Really what he means by that if you were to, buy out every shareholder and take, it private you're talking about. North of eighty billion dollars at? Least in the seventy billion plus range Current shareholders just decided they were gonna exchange their public shares private Shearson stick with you on stick with. Tesla at a private owner it could be far less it would, be whoever didn't want to do that and opted to take some kind of buy out Said that can be, as little as, twenty billion dollars still a big chunk of change but smaller than buying. Out the entire company so. We don't even know what the plan is we don't know who would go along and so forth Among the five or. So biggest shareholders have we had any indication that. One of them is interested in upping their stake significantly From them So much that they would Prefer to snap really think One dollars a share so selling it for, twenty years Private equity in west penalty About that

Bloomberg David United States Tesla Hong Kong Asia Musk Rishaad Salamat Los Angeles Bureau Chief Doug Bryan Curtis David Samson David Wells Treasury Late Trading Shearson Detroit
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:41 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Win an order from this tara the indian affiliate of singapore airlines dealing a blow to airbus's competing a three thirty neo according to people familiar with the development bizarre opted for six seven eighty seven's with an option to buy four more according to the sources who asked not to be identified as the information isn't public general motors development of self driving vehicles got a boost this past week when softbank step forward to drop more than two billion dollars into gm's cruise automation unit that money will help finance the rollout of a driverless ride hailing business next year and it helps gm and other ways according to bloomberg detroit bureau chief david welsh what it does is it gives gm more than two billion dollars to help develop trading cars that they don't need to take out of their existing rnd or product but two billion dollars that's two new vehicle programs for cars that actually make money who gm can instead spend their internal cash programs that are gonna return money now hedge funds are the least bullish on west texas intermediate crude prices in almost seven months as american output keeps breaking records while saudi arabia and russia signalled they're getting ready to open the taps more after a year of restraint together the three countries deliver roughly a third of global supplies yesterday oil dropped to the lowest level in more than a month closing at sixty five eighty one a barrel global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm mark mills this this is bloomberg this is the business of sports from bloomberg radio with scott josh neck and michael barr thank you very much for.

airbus saudi arabia russia twitter mark mills bloomberg general motors softbank gm bloomberg detroit bureau david welsh texas scott josh neck michael barr two billion dollars twenty four hours seven months
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:49 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Tesla hasn't perhaps completely figured out tesla shares down slightly at the moment show what new tidbits of information are you hoping to get on the call i know there's some excitement that he might do some teasing about the model why the compact suv you know more about automation potentially questions here he did see in the letter which is very interesting that they had cleared up bottlenecks at the battery plant and now they're bottlenecks at the plant so maybe he'll give more details on production and where they really are he will certainly get questioned about that by the analysts who were on the call so maybe we'll get there hang on a sec you just said he's gonna leave extra time for qna because he is very excited about talking about this rapid increase in production that he has planned there you go maybe he's got good news for us on the call one interesting thing is he said camp x would be coming down and we'll be interesting to see are they spending more efficiently or they just maybe ratcheting back on the timeframe for model y for the roadster for the semi truck some of these things that they promised in the past if you want to have those vehicles do need to spend on on our andean you need to start really doing some engineering spending and getting things in place to get those vehicles out and if you're still trying to get to five thousand nudes and eventually ten thousand he said that in the letters as well ten thousand units a week of the model three you gotta spend capital to get those lines up and running and you know maybe we'll get some more detail on that and and how quickly they're going to get there all right you elon musk continuing to talk on the earnings call saying they are improving production with dramatically less cap backs as he said david david welsh thank you so much for joining us from our detroit bureau will continue to monitor these headlines well the days.

Tesla qna david david detroit
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:05 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"So that got people's attention really it's a matter of you know with the tax cuts late last year boosting results mean s and p five hundred prophet running about twenty one percent growth at this point for the first quarter which is sort of in line with an analysts are expecting for the full year it's like okay it's out there so now where are the holes in the arguments so to speak and then it's really seems to be a bit of a focus as we go through and evaluate the response to these results all right well let's focus on automobiles for just a moment got jamie butters who is our auto team editor for bloomberg joining us from our detroit bureau jamie we got some of the sales results pretty good for fiat chrysler i believe everyone was looking forward to klein they posted an increase for the month of april also ford doing less poorly i guess sprite sprite results ford shares up about three tenths of a percent right now give us the details yeah it's pretty limited results so far but yeah fiat chrysler was a big surprise they had some recovery in their fleet business which you know normally we think of as a bad thing it's like deeply discounted rental cars and stuff but the the way they're lineup of plays out this year they really kind of double barreled on ramp pick ups so they're starting to make rams at the sterling heights plant that used to make chrysler to hundreds that were mostly just sold the rental cars now they're making these top dollar rams they're slowly building that up but they're cranking out the old ones at their old plant in warren that they can sell and really try to try to take some fleet share from gm and ford that's an opportunity for them one thing that i'm struck by is that four didn't disappoint as badly as people had expected you at shares are still down slightly and fiat chrysler shares are up but just barely i mean it seems like it'll take a lot more than this to move the shares what will it take yeah i mean on a on a day like today i mean the.

jamie butters editor bloomberg chrysler warren gm detroit fiat klein ford fiat chrysler twenty one percent
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:50 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"So we love it we love it we love it we love it not you get the gist talking about tesla stock most hated and most love going to tell you though i love this story tomorrow must read on the bloomberg on this friday david is detroit bureau chief ed bloomberg news joining us right now from our blue from our detroit bureau and it's so true david people who come on and they defend tesla vigorously and then i've come on and they're just either shorting it or just you know like the guy but like the ideas but don't think it's a good and sustainable company to us about this story so this is a yankees versus red sox in the uk celtic versus rangers it it's just a two very divergent schools on one side you have the fan boys are the warriors they not only love the cars but they they have this this affinity for his vision and from an investment standpoint they're not buying stock just because they like cars his cars are cool if that were the case they would have bought a ferrari shares it's really they see a future of clean electric cars that drive themselves i think that tesla has the technology and the talent anyone's vision to get their first and to make a lot of money eventually and they're willing to wait through a lot of cash burn a lot of losses and a lot of miss financial and production targets to get to that payday on the other side are the the shorts the bears they see a company that's burning cash has made money just wants in it's one quarter profit prophets history and they don't see how they're gonna make money anytime soon and they figure yes somebody gets going to get to that vision of clean electric self driving cars.

bloomberg tesla yankees detroit bureau ed bloomberg detroit david uk celtic ferrari one quarter
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:42 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"I think it's going to happen but it could take some real time to get this done all the people we talked to on this one person was saying they think a couple of months it'll be done someone else say jeez that seems aggressive it's you know it's really trying to threaten needle here to get everybody's desires mad we're talking politically in order to get the deal done and you know you've got to get shareholders and boards at both companies to sign up probably not a problem since carlos going has a has a lot of influence there is the chairman but the the shareholders structure deal that that meets their desires as well david watch thank you so much for joining me david welsh detroit bureau chief for bloomberg news talking about the formal marriage of nissan and renault they had a relationship for two decades or more than that and the governments are both of the respect of companies are both involved in them so it might make it a little bit difficult but as david said it is nearly a sure thing just to bring you up to speed on markets right now we are looking at accelerating gains in the initial hour and a half little more than that of trading in the us nasdaq actually gaining the most leading the charge with nearly one and a half percent gains or more than one hundred points interesting to see sort of the rebound today after a minor not minor the worst performance for fang stocks on record that said amazon shares are continuing to experience declines down nearly a.

carlos chairman bureau chief nissan renault us david welsh bloomberg amazon two decades
"detroit bureau" Discussed on KBNP AM 1410

KBNP AM 1410

01:46 min | 3 years ago

"detroit bureau" Discussed on KBNP AM 1410

"I think it's going to happen but it could take some real time to get this done of all the people we talked to on this one person was saying they think a couple of months it'll be done somebody else said gee that seems aggressive it's you know it's really trying to threaten needle here to get everybody's desires met checking politically in order to get the deal done and then we'll keep you know you've got to get shareholders and boards at both companies to sign off boards are probably not a problem since choas going has a has a lot of influence there is the chairman but the the shareholders structure a deal that that meets their desires as well david watch thank you so much for joining me david welsh detroit bureau chief for bloomberg news talking about the formal marriage of nissan and renault they've had a relationship for two decades or more than that and the governments are both of the respective companies are both involved in them so it might make it a little bit difficult but as david said it is nearly sure thing just to bring you up to speed on markets right now we are looking at accelerating gains in the initial hour and a half little more than that of trading in the us nasdaq actually gaining the most leading the charge with nearly one and a half percent gains or more than one hundred points interesting to see sort of the rebound today after a minor not minor the worst performance for fang stocks on record that said amazon shares are continuing to experience declines down nearly a percent after president trump's earlier tweets right now let's head to.

chairman bureau chief nissan renault us trump david welsh bloomberg amazon president two decades
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 3 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"You had weaker income at higher costs had losses on the resale side and they were getting killed but they're underneath that there was this underlying fear that they were gonna get displaced by uber and lift and services like this suddenly in the summer that starts started to rise again because iverson hurts bulls came up and deals where they were managing the test selfdriving car fleets for apple and for google's waymo unit so they should be worried about their core business they've lost some business there and you're talking about auto rental business has already been pretty weak but there's a lot of thinking now that they can be the fleet manager for these other players because waymo doesn't want to own a fleet of cars gm would like to obviously not on a few cars and that's what this pilot experiment is all about and hoover enlist in interviews i've done with them they don't want to own the cars either if they have selfdriving taxis driving around so somebody's gonna need to own gas up manage clean sure store these cars are not working and you can do that garages and it could be potentially you david welsh thank you so much for being with us david watch detroit bureau chief for bloomberg news right now let's head to washington dc nancy lyons is there with world and national headlines in our ninety nine point one studios nancy thanks lisa another change in president trump's cabinet rex tillerson is out as secretary of state with trump wanting cia director mike pompeo as his replacement gina hospital pompey's deputy at the cia would serve as acting director of that agency she would be the first woman in that role trump says he needed to find someone who shares his vision tillerson did not resist agreed what you look at the iran deal i think it's terrible i guess he was okay i wanted to either break it or do something he felt a little bit differently steve goldstein and under secretary of state for public diplomacy and public affairs says tillerson had no idea this was coming the departure comes at.

hoover under secretary steve goldstein iran acting director director president washington bloomberg detroit david welsh iverson gm tillerson cia gina hospital pompey mike pompeo trump nancy lyons
"detroit bureau" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:53 min | 3 years ago

"detroit bureau" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Yeah thank you so much for joining us and a happy new year to jamie butters is you as autos reporter for bloomberg news coming to us from our detroit bureau at this is sort of a big question i'd pimm that i have frankly which is as you get rising raids a lot of the loans that are extended to people for cars are floating rate they're going to be some of the most affected so it'll be interesting to see what happens here did did two two the fact yesterday californians were lining up to fire recreational marijuana legally for the first time as a new law went into effect to what the implications of this law are perhaps chris levy is the best position to tell us he is cochairman and partner of met at men which is based in los angeles and his devoted to i helping with the infrastructure up behind growing up marijuana legally i and he joins us now chris uh first it did i described madman correctly and second of all allow significant are the implications of this new law that goes to affecting california only implications for the new laws are very significant um if you look at 2016 the market size in california for legal marijuana was a little over two billion two billion and we think the market potential with a don't use legalisation uh it's up to seven billion than a threefold increase a chris bed 145 as as much as forty five percent of the cost of legal cannabis our taxes correct.

reporter chris levy partner los angeles marijuana california cannabis jamie butters bloomberg detroit forty five percent
"detroit bureau" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

01:53 min | 3 years ago

"detroit bureau" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"Yeah thank you so much for joining us and a happy new year to jamie butters is you as autos reporter for bloomberg news coming to us from our detroit bureau at this is sort of a big question i'd pimm that i have frankly which is as you get rising raids a lot of the loans that are extended to people for cars are floating rate they're going to be some of the most affected so it'll be interesting to see what happens here did did two two the fact yesterday californians were lining up to fire recreational marijuana legally for the first time as a new law went into effect to what the implications of this law are perhaps chris levy is the best position to tell us he is cochairman and partner of met at men which is based in los angeles and his devoted to i helping with the infrastructure up behind growing up marijuana legally i and he joins us now chris uh first it did i described madman correctly and second of all allow significant are the implications of this new law that goes to affecting california only implications for the new laws are very significant um if you look at 2016 the market size in california for legal marijuana was a little over two billion two billion and we think the market potential with a don't use legalisation uh it's up to seven billion than a threefold increase a chris bed 145 as as much as forty five percent of the cost of legal cannabis our taxes correct.

reporter chris levy partner los angeles marijuana california cannabis jamie butters bloomberg detroit forty five percent
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:02 min | 4 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"I left of the top i may american consumers fat it's not only their earth friendliness that seals the deal another big lore a federal tax credit of roughly seventy five hundred dollars per vehicle bloomberg's detroit bureau chief david welsh what about the incentives and he joins us now david set the scene for us tell us about the electric vehicle mark get the recent growth that we've seen it's growing pretty well but it's still only one percent of the markets we've seen r three car companies essentially song most of these vehicles should for which is got the big brand name they've got the model wesson the motto s x out there they're so for automony their cool cars everybody wants to pay the eu on must or and neither investors or or consumers just sorta admired even if they on biased cars nissan in jail have sold smaller lowerpriced electric cars primarily to me regulations in california you have to have so many electric vehicles sold as a percentage of your overall sales to do business and the state without paying fines and and that's largely with those are those two vehicle stood and he certainly from a chevy pulled they've made me and they also they do that technology out there on the road now most of the sales grew sprinters so it which is by far the biggest player in this whole thing now you're going to siem ping growth in vehicles available over the next five years because car companies are bringing them in the market dreaming of sold can be quite another matter because they have captured the imagination of order people evan captured at checkbooks of art consumers just got to you at because i want to understand how she walks in the united states how much at that dimond is fueled by some of the tax credit to even get from the federal level how do they work for the consumer and obviously for the car companies to yes there are a lot of things he really pushing car companies to sell them and push consumers to buy them and the consumer side there's a federal tax credit of seventy five hundred hours to buy an electric car if you buy a.

the deal tax credit bloomberg bureau chief car companies eu california united states dimond electric car detroit david welsh chevy evan seventy five hundred dollars seventy five hundred hours one percent five years
"detroit bureau" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:56 min | 4 years ago

"detroit bureau" Discussed on Bloomberg Radio New York

"Hello vehicles apartheid many american consumers that it's not only their earth friendliness that seals the deal another big lure a federal tax credit of roughly seventy five hundred dollars per vehicle kluivert's detroit bureau chief david welt wrote about the incentives and he joins us now david set the scene for us tell us about the electric vehicle market the recent growth that we've seen growing pretty well but it's still only one percent of the market to really what you've seen r three car companies essentially sung most of these coach test so which is at the brink brand name they've got the motto wesson the motto s x out there that so for automony their cool cars everybody wants the eu on must or and neither investors or or consumers just a sort of environment of it on buyers cars and then you've got nissan and care of sold smaller lowerpriced orator truckers primarily to me regulations in california to have so many electric vehicles sold as a percentage of your overall sales to do business and the state without paying fines and and that's largely with those are goes to vehicles stood the nissan will you finish every pulled they've made me and they also they do the technology out there on the roads no moves from the sales grew up this winter so which is by far the biggest player in this whole thing now you're going to see growth in vehicles available over the next five speakers car companies are bringing them in the market premium sold can we quite another matter because they have captured the imagination of order people and captured their checkbooks of order consumers just yet because i want to understand how actually works in the united states how much at that dimond is fueled by some of the tax credits that you can get from the federal level how do they work both for the consumer and obviously for the car companies to yes there are a lot of things he really pushing car companies to sell them and push and consumers to buy them on the consumer side.

the deal tax credit kluivert bureau chief car companies eu nissan california united states dimond tax credits detroit david welt seventy five hundred dollars one percent