35 Burst results for "Eleven Billion Dollars"
U.S. Judge Approves Deal Dissolving Purdue Pharma in Opioid Saga
"Drugmaker behind the highly addictive prescription. Painkiller oxycontin is formerly shutting down. We're talking about purdue pharma. Instead of selling opioids the company's resources will be put toward addressing the opioid epidemic mainly with addiction treatment and prevention programs. It will also compensate people and families who have been hurt by purdue products that was just one of the terms laid out in a wide ranging bankruptcy settlement. Judge approved this week. It also says the company's owners the sackler family will have to pay four and a half billion dollars to settle thousands of opioid related lawsuits. Without though this actors will be immune from any more lawsuits about opioids. And they'll still be one of the richest families in the world. They're worth about eleven billion dollars. A lot of states support. This plan saying it's the best way to help pay for a problem. That's only gotten worse. During the pandemic but others like connecticut. In washington planned to appeal saying the settlement shields. The sackler is too much from liability. They say the sackler is downplayed. How addictive opioids are while they aggressively marketed. Those drugs purdue pharma as a company has pleaded guilty twice for that but the sackler is have not been charged with crimes. At least not yet and they say they did nothing illegal or
"eleven billion dollars" Discussed on Boomer & Gio
"You're my mba go-to guy go to nba guy. I if i if. I want something for baseball. Usually evans the guy you sure. You're janis. paul guy i know. He's a big net pen and all those stuff but so like the nets have hardened irving and Durant for next year. Yeah and then. There are player opt-outs for all three players the season after that. That is right. Now that the nets and up giving each of them one hundred million per year after this is over with or they sought them with bird rights or their magic rights are what rights or a signing trade rights or what other mean. The nba is so confusing. It is very confusing. They'll have to figure that out a full three want to stay. I'm you know i'm a contract. Is you know you love the calm. And i like to see what guys are making and listen i. I make whatever you can make. That's the idea. that's that's what we're about. That's what america's about you do something really well two more years though that they player option after next year which is why i say year and a half experiment that they did now. Well now is it a year and a half experiment. It depends if they resign. The murnau's reading adrian wojnarowski one thing. That is on the table. That i see that the nets might offer all three of them to try. Make sure they stay long term. They might offer them one hundred million dollars a year for the next two years not to play just to hang out so that they're healthy to make a run for twenty three twenty four. Yeah that makes so they would get probably five hundred million each right one hundred million each to not play the next. Play the next really. Take their shot in either. Twenty three twenty four twenty four hundred zero rested. They would rest. Yeah for the next two seasons as right. Yeah it makes sense. It seems like brand for them to very done it before wwl seriousness. Do you have any idea what they could be offered. Do you now or not being. We were talking forty five million a year. Well yeah but also how far into the luxury tax. I didn't want to go. That's the other part of the joe. Cy is like is the jeff bass o of taiwan or china or something. Yeah he is. What does he own again. What's his thing i. Is it alibaba. Yes that's he's got like a very unassuming twitter account. We don't really see him. But he's not the steve cohen of owners in the nba. Is i think he will. Bombers probably gotta be the most the richest guy right or is it si- size got like thirty thousand twitter followers. He's member cater. National businessman says probably not international. Has name is t. s. i. It's probably a guy that we probably don't even know what his true values. Let's see you looking at gerry. Cam joe sign networth. He's got a net worth of eleven billion dollars. Okay steve bomber. They're seventy seventy six years. He's probably a little bit redoubt and just seven times..
"eleven billion dollars" Discussed on Boomer & Gio
"Mba go-to guy go to nba guy. And you know if i if i want something for baseball usually evans the guy you sure janis fall guy and i know he's a big net and all those stuff but like the nets have harden irving and durant all under contract for next year. Yeah and then there are player opt-outs for all three players the season after that. That is right now. The nets end up giving each of them one hundred million per year after this is over with or how they sought them with bird rights or their magic rights are what rights are signing trade rights. Or what other. The nba is so confusing. It is very confusing. They'll have to figure that out a full three. Wanna stay on rock. I'm a contract. Is you know you love the khan. And i like to see what guys are making it a listen i. It's great. make whatever you can make. That's the idea. that's that's what we're about. That's what america's about you do something really well two more years though that they player option after next you say this is a year and a half experiment that they did well now. Is it a year and a half experiment. Well it depends if they resign them or not now is ridden. Adrian wojnarowski one thing. That is on the table. That i see that the nets might offer all three of them to try and make sure they stay long term they might offer them one hundred million dollars a year for the next two years not to play just to hang out so that they're healthy to make a run for twenty three twenty four. Yeah that makes me so they would each get probably five hundred million h. Right to not play exchange. Play the next minute. Really take their shot in either. Twenty three twenty four twenty four arrested. They would rest for the next two seasons guys right. Yeah that makes sense. Yeah it seems like on brand for them to have done it before wwl seriousness. Do you have any idea what they could be offered do you now or maybe you're talking. Forty five million a year. Yeah but also how far into the luxury tax. I wanna go. That's the other part of the joe size. Like isn't jeff bezos of taiwan or china or something. Yeah he is. What does he own again. What's his thing. Is it alibaba. Yes that's he's got like a very unassuming twitter account. We don't really see him. He's not to steve cohen of owners in the nba. Bombers probably got to be the most the richest guy right or is it si- size got like thirty thousand twitter followers visit kenner. National businessman says probably not international. Name is a yeah. It's probably a guy that we probably don't even know what his true value is. Let's see you looking at gerry. Joe sign networth. He's got a net worth of eleven billion dollars. Okay and steve bomber there. I've seventy six seventy six years. He's probably a little bit redoubt and just selective seven times. Yeah i mean steve. Cohen look like small potatoes..
U.S., EU Suspend Airbus-Boeing Trade Fight
"After a seventeen year battle the longest and most costly in the history of the world trade organization the us and the eu have agreed to suspend their trade fight over government. Subsidies to boeing and airbus the resolution is part of a broader effort to improve transatlantic relations. And it may allow the allies to shift their attention instead to a common competitor china. Joining me now with more is our aerospace reporter. Cameron highs on. Thanks for being here. Pay glad to be here so doug before we get to the new agreement. Can you remind us how this all started. How did boeing and airbus become wrapped up in this while the legal disputes date. Back to two thousand four. The friction between the two parties actually dates back. The best part of their two years boeing used to be the dominant producer of commercial jets. Airbus with european government support started and chipped away at that market. So that kinda made the the. Us concerned about high. That government age was the starting in. There is the market that then brought in the manufacturer's who've been trading blows for the best part of twenty years now so over the course of many years this has really been a battle between the us and the eu. And it's cost importers a lot of money. Can you give us a sense of the scope of this battle. Well that's right. And it spread beyond aircraft to any number of industries high-profile wise whiskey and bourbon and cheese and close all told the calculation is something in the region of eleven billion dollars of tariffs have been imposed on companies on both sides of the atlantic and only a small fraction of that is actually applied to aircraft. So what made the conditions. Now more amenable to reaching agreement the best way to describe this is a truce. We have a new administration in the us. Which is trying to improve. Its trade relations just with the eu but obviously notably china so abroad environment which is looking for better. Trade
Amazon Hiring 1800 Canadians
"Today. Want to tell you a little about the latest announcement from amazon about their hiring in canada and part of these hires that they're looking for is to go to support the development of lexi and more of the features here in canada. It almost seems like on a monthly basis. There's a new announcement so this one that they just put out says at amazon is higher eighteen hundred new corporate and tech employees in canada in two thousand twenty one and well already halfway through the year so there looking to hire eighteen hundred people between Now needed ear and it includes vancouver and toronto tech hubs as to the key locations. And here's a rather interesting piece about the story is that they're using a new recruiting program to help find the candidates. Find the best fit at amazon. So it's sort of reversed. Essentially what happens is amazon would offer candidates choice. And then they reversed the process. Instead of having job applicants do their own research about which teams they would like to join the as teams pitch the future employees with the rules. They have open so the bottom line is if you are interested in working for amazon there are lots of openings right now. Amazon currently employs twenty three thousand full and part time employees in canada and that includes facilities in bc ontario berta manitoba and quebec and Between twenty ten twenty nineteen amazon invested more than eleven billion dollars in the infrastructure in
Zconomy: How Gen Z Will Change the Future of Business with Jason Dorsey
"Jason. Save up to fire nation and share. Something interesting about yourself that most people don't know sure what's up. Fire nation thrilled to be here with you. Huge fan fire nation. Everything about something that most people don't know about me is. I wrote my first book when i was eighteen years old and it was so successful. I ended up sleeping on the floor of a garage apartment with five thousand books that i had printed thinking somebody was going to buy them instead. They were furniture. So a bed of books means you're not selling as many books as you want to fire nation but guess what jason's grown he's matured and right. Now he's rocking z. Konami which is all about generation z. And how gen z is going to change the future of business. So i kind of want to start a few steps back jason. Because i'm just curious like how does one get into studying generations wide. Did that interest you. And why did you get into it. Yeah share well that. I book that i wrote when i was eighteen at ended up not selling it first and then becoming a real big bestseller and i started speaking all around the world and i ended up on sixty minutes and i was on. That show is all about millennials. And i'd written a bunch of books and started a company and everything was going great but after that show i started speaking all these corporate executives who are now our primary clients but i was speaking all these exact and he would say such terrible things about millennials and i am a millennial pretty fended lazier titled your pants or fall off. You live with your mom and all this stuff. And i'm like well. No actually. I have my own house in our own office building in my parents worked for me and my pants are on very snugly. Thank you very much. And so so after that i remembered Clear as day. I was in this boardroom. Big public company and the ceo had said Some things about millennial employees. That i just i didn't fully believe and i'd spoken about half a million millennials at that time and so i asked him because i didn't know any better. Now i serve on lots of corporate boards. You know one of the couples on sold for eleven billion dollars. I live in this world now. But back then i didn't i didn't i didn't know and it was really a set up for success so i asked him i said is there any way i can see your data about millennials because you say the turnovers hiring. They're not as engaged and on and on i. I love to understand better. So i can conceptualize it and maybe help also for so. There are a lecture or whatever so they sent the data to me. And the data didn't match with the ceo had just said in the boardroom which basically never happened. Ceo's don't go off the cuff in front of their boards prickly a private publicly-held company like that. So i asked my wife who has a phd. I said denise you know this is. The strangest thing was just in this room with this pretty famous. Ceo they said all these things with great conviction then. I looked at the data and the data doesn't match what they just said. I said what do you think we should do. And she looked at me and she says we start a research for. She's up because if they don't even know their own data if we can help them to understand their data make better decisions and we can really great copy and help lots of peoplesoft. Lots of challenges and so. That's how we got into this thirteen years ago. We founded the center for generational kinetics. We lead research all around the world for many of the biggest brands in the world. And all about separating generational myth from truth through data so leaders can make great decisions whether you're a startup or venture capital or your bootstrapping yet or you're in a big public company getting accurate data and being able to make decisions based on that increases the likelihood of success de risk strategies. That you're looking at drives innovation and so forth and we found that generations in particular or one area where there was just so much myth and so much misinformation and if we gave people great information that it could take action and that was incredibly exciting. We've had seven hundred clients since then which is pretty wild and done studies all around the world and just love it absolutely it now. Your ceo is just flat out wrong when it came to millennials and you had the data to back it up. Did you ever go back to him. And just be like joe burrow. Check us out. you're wrong in also my pants. They're pretty snug. Check them out. I know that was a quiet. But i really do credit him and i if it wasn't such a negative story i would say what company is because it's really big famous company but But no but. I do believe that he something that we saw frequently. Which is the idea that generations older generations. Think of millennials through the lens of their kids or their grandkids and so that that becomes a proxy for the whole generation. And in fact when we wrote the economy book new book. What we found is the same thing was happening again and there was all this misinformation and it just wasn't true and that's why we spent less two years right in the book is because we've got to clear this up because when people have the wrong impression about an entire generation it leads to so many problems for everybody. Everybody loses so no. I never never corrected him on it. But i do give him credit for sparking the idea. I'm glad that you do give them credit for sparking that idea because sometimes fire nation. Is those things you just like you know. I'm not just quite sure about that. Let me look into it. They can really uncover some great opportunities in one thing. That i think is a huge problem in this world in general and especially when you're talking about generations is just regurgitation. You'll hear one person on one talk. Show say one thing. And then you'll regurgitate it. And then somebody else regurgitates regurgitation and like seven layers down. You're like how'd you hear that. They're like oh. I don't really know like somebody just mentioned it and like now you're speaking it like it's the truth and it's just regurgitation of what you know is something that has no data to back it up. So what most people get wrong jason when it comes to generations break that down for us shared. There's a few things that jump out. The first is this belief. Generations are a box or stereotype and that is absolutely not true. We're generational researchers. This is what we do more than sixty five generational studies and what we see is generations are not a box but what they really are powerful clues and as long as we used them as clues and only clues to dry faster connection trust and influence in create all kinds of positive outcomes. We don't wanna put people in boxes. We wanna use this as clues. So we can figure out how to better lead market sell collaborate innovate and so forth. And when you sort of at that level people seem to really embrace it because it just gives them another lens to better connect. So i think the first is people think. Generations are boxes or stereotypes. And they're not in fact. Our clues are driven by math. We look for what's called predictability by scenario so that's the first thing that people i think it wrong. The second is this idea that generations are the same around the world. Now one of the things that we've uncovered repeatedly in our work. We publish all this on our website. Is that generations vary by geography so for example in the us will see differences between urban and rural within the same generation. And that i work a lot outside the us and we'll see differences. Has we travel around the world and that's important because if you're a global company or frankly a global brand fire nation is you want to make sure that you really representing each of the different geographies. And what makes them different now. One cool thing that we've uncovered and we talk a lot about this bunches. Economy is the most consistent generation the world. now that doesn't mean exactly the same but the most similar generation the world is now gen z. Gnc's about twenty three twenty four years old. The oldest and the reason the most similar is because of cheap mobile technology so if you live in different countries around the world you might even get your phone for free as long as you use it for payment. Think about it started using a text. Payer sort of like a mobile credit card in different parts of the world and because we've driven the cost of a mobile down solo basically two zero in many places now. All the sudden young people around the world are having access to entertainment news information dating banking on and on and on and as a result of that. We're seeing a lot more similarities. As i travel all around the world the younger you get but interestingly the older you get even to gen xer baby boomers from a different planet as you travel around the world. So that's something people get wrong. And then the last thing that i think people get wrong. And is they have to deal with a bunch. Is people confuse life. Stage or age with generation. So for example jen's is now twenty four but when we do studies and ask people how do you think the average millennial is they'll say twenty five as if we didn't keep getting older you never talking about millennials for fifteen years. Say there they're now forty. I think that's a board it because you stay in the saying generation but you pass through different life stages and frequently people confuse the two and it's very important to understand the difference because if you're trying to market or employer build a business that targets different groups generations gives you all these clues but we got to distinguish between the generation which travels up right at ages up baby boomers for teenagers versus life. Stage for example high school or college which are still pretty similar ages as they have been for the last four years and so knowing. The difference helps you to understand that. Yes really interesting. How people always confuse age with generations. And how that all goes. I mean you know. I was just talking to a friend the other day literally. He's in his late thirties. I'm in my late thirties. And he's just going off and riffing about jenner. How millennials or just entitled and all this stuff and it looks like you know where millennials. He's like oh no. I'm definitely not a millennial mike. Well we're we're like the oldest millennials millennials. And he's like well. I need to look at that. And so it was funny. He came back. We know there's actually a lot of great things about millennials and he's now like listing off all the good things because he now is identifying himself as a millennial so it's really interesting fire nation and yes. We do get older. That is what happens to all generations and all human beings foreshore. And we're gonna die something. I'm pretty excited about as soon as we get back from our break which is about how generational work is actually going to solve challenges for both entrepreneurs that's you fire nation and companies as well as soon as we get back think is the best platform to create market and sell your own online courses in. We speak from personal experience. We've been hosting our online courses within kick since two thousand seventeen with dinkic we can deliver content to our students in a simple user friendly way that allows them to learn and take action fast plus our students are always raving about how easy it is to follow the flow of the contents. Thanks to think theme and templates. So if you're ready to create an online course to help you reach a wider audience build revenue in make a bigger impact than think. If is the perfect partner to have by your side to prove it. Think if it has an exclusive for you fire nation. Their five day course challenge. Here's what one of their recent students had to say about. This challenge helped me gain the confidence and clarity. I needed as well as a perspective required to compile my specialized knowledge into marketable contents that others will be willing to pay for sign up for this free challenge today at think dot com slash fire. That's t h. I n k. I f i. C dot com slash buyer looking for business. Coach was helped thousands of entrepreneurs just like you to increase profitability by an average of one hundred percent per year all for less money than would cost a higher a fulltime at minimum wage employee fire nation meets clay. Clark klay has been coaching businesses. Like yours since two thousand six yep even through the great recession and he does it for less money than would cost a hire a full time minimum wage employees at a time when inc magazine reports that by default ninety six percent of businesses will fail within ten years claes helping businesses like yours to grow on average by one hundred and four percent annually. Houses even possible clayton only takes on one hundred and sixty clients so he personally designed your business plan. Plus cleese team helps you execute that plan with access to graphic designers. Google certified search engine optimize web developers online added managers videography workflow masters in accounting coaches visits thrive time show dot com slash fire to see thousands of video testimonials from real people. Just like you. Who plays helped over the years. That's right do your research view. Thousands not hundreds of proven documented in archives videos. Testimonies from real people just like you. At thrive time show dot com slash. Fire thrive time show dot com slash. Fire then schedule your free consultation with klay himself to see how he and his team can help. You thrive so jason. We are back. And as i kind of teased before the break. I wanna get into. How generational work console challenges for fire nation. That's for us entrepreneurs but companies as well. Sure that with us. Sure one of the things. That also is not obvious as i'm venture partner at a venture capital firm and serve on lots of start up boards. It's an extremely passionate about and what we're seeing much of the opportunity being created today has a generational trend or thesis. It's the adoption of new technology new solutions or bringing a different way to look at old problems and when that happens that's where both change and frustration and challenge and frankly companies go out of business but it's also wear new opportunities are created so i'm speaking with entrepreneurs and working with entrepreneurs were trying to look at what are millennials and particularly gen z. Doing right now that you might want to be able to build a business around or leverage as their pine power influence increases so for the first time what we're seeing is technology trends are rippling from the youngest to the oldest and that's a huge shift. It used to be from the oldest more affluent down to the youngest. But now we're seeing younger. People are actually driving tech adoption up to the older but the key as an entrepreneur mississippi that we coach entrepreneurs about is being able to sort of step out of your generation and look at it through the lens of another generation. it's what we call generational contexts. One of the best ways to do that is actually bring members of that generation into the conversation. I can't tell you how many times i'm speaking at places. And they're asking me all these questions about millennials or gen z and. I'm like well. Why don't we invite some of them to the conversation. Let's talk to them. Uh let's actually talk with them. See what they say. Say get and so. I think when you look at bringing generational diversity into the workplace into innovation. You can solve all kinds of interesting challenges. I'll give example right now. What we're seeing is the gen z and even younger millennials. I talk about both of these in this economy book. They want a different on boarding experience. Obviously we're in this time of covert and all these changes but even before that what we saw is that the youngest generation wants to be on once on boarding to be by text message. Which sounds i know a little bit wild but there are companies. Do all of their on boarding through text message so you get semes- before you Short for your first day in alaska you just give you a simple example. This is in the book from coming called on border. When you they'll send a text message and it'll say what's your favorite snack three o'clock when your energy starts to go down. Do you have a favorite sports team are causing all this sort of stuff and the is when you show up for your first day. Or they'll even now senator gift baskets to your house. They'll have all your favorite snacks ready for you on your show up because they already know because you put in your text message or the. Have your favorite sports team. Or they'll find the best place that you wanna go eat or have that food delivered so they're engaging you by text message in a process that generally used to be in person and frankly pretty terrible at most companies. There's another company that worked in with again. This is generational trend. They figured out how to pay all employees fifty percent of their wages every day at no cost. They're called instant and what they did. Is they basically said you get a text message or message on your phone after your shift. And it says hey. Would you like half your money today. Yes or no. If you click s you get your money. Will all the sudden now you have. An entire generation is growing so fast that thinks they should always be able to get half their paycheck. Every day will imagine how that changes so many other things and all the sudden other generations. What do they say well. This text messaging on boarding thing is pretty cool. You mean i can get paid every day. That's pretty awesome. I think i want that. To and all the sudden the generational trends creates huge businesses. And those are the types of things were seeing you know so much. Innovation is driven by other generations. This is the key they don't even think it's new or different when we interview them. They think you've always been able to do on boarding by text message because they never got on onboard before there was text messaging or if they've only worked at a place that gave them the ability to get paid every day. That's how they think everybody gets paid. And you know older generations. So i work with the frequently. Get defensive and they're like you know. The young generations are trying to change everything. And i'm like no. They're not this is just all they've ever known they don't know any differently. Change to them is actually doing what you're proposing and it's not about one being right or wrong. It's going we can. We can leverage us. We can adopt this and all the sudden on boardings better retention is higher engagement is higher in these types of things and you see it on the marketing side for those fire nation members who are really growing their businesses and they're more than sales marketing. Same exact deal and the idea is just recognizing this you're creating so much opportunity. We see this particularly with social media. We see this with podcast such as yours that this is a great way to engage younger generations who then index for talking about these things and driving awareness in referrals and excitement fire nation. So many things to take away here. One of my favorite things jayson broke down was specifically tech trends are rippling from the youngest. To the oldest. Like think about that shift. Think about that change. How the ripples actually going from the youngest to the oldest now which is a complete flip from how it used to be back in the day and one thing. I wanna really dial in on just because i'm personally curious and i think fire nation is to is this the up and coming generation now. Let's talk about generation z. Like who is generation z. And what do we need to know about them. Yeah absolutely so gen z. The key thing is that they're already twenty three or twenty four years old. So that's a good starting point and what we uncovered in our research and we publish. This is economy. Book is at gen. Z is the key thing we got all these research firms around the world to change their birth years. Gen z does not remember nine eleven and that is a huge deal because it's the biggest event for the millennial generation we call generation defining moment. But jesse doesn't remember it at all. They learned about it in school or heard about it from a parent or they watched the video on youtube. But it's not something they experienced and they're now twenty three twenty four years old so a huge event of the generation before they don't remember in fact they're they're covid nineteen is essentially their defining moment. This pandemic is the generation defining moment that they're gonna take with them and we talk about this a lot. So one thing is they. Don't remember kievan of a previous generation and the other is there. Cuban is happening right now. But what i think you're entrepreneurs will find super interesting is that we've been doing this. Study for the last five years called state of gen z and. It's our big study released every year. And what we've uncovered and we've seen it for five years in a row now is gen. Z is more practical or frugal with their money than previous generations. And this is shocking and when we dig into it what we find out is that gen z came of age around the great recession. And what do i mean by that. Their speakers are experts. Like you talked about earlier. This regurgitation people running around saying oh gen z struggled during the great recession in the workforce they were twelve and were not working right but instead what they did is. They saw their parents struggle. They heard their parents struggle. They know people lost their houses. They saw millennials drowning in student loan. Debt having back home a mom and dad and you put all that together and what you see is. They're very conservative or practical with their money. As a result they're driving double digit growth at stores. They like couponing they wanna know. They got a good deal. They want things to be a bargain. They want them to last a long time really have utility and what we see. The example. i'd like to give is a gen zero sixteen years old. We'll have a birthday party. They'll get fifty dollars. They're all excited it away. And then they'll go to their mom or their dad and say hey. Can i have fifty dollars. Wanna go buy something. Mom or dad will say but you just got fifty dollars. And they'll say oh. No that's my money your money. It's overseeing that so if you're trying to market to them you've got to understand their practicality with money we also see the gen z when we do values based research. What we find is for the last four years Their top concern was climate change. Or would they would call climate crisis in their own words. And so that's been the top that they've been looking for brand alignment and for entrepreneurs to get behind and so forth however in the last six months we are new study. Social justice has leapfrog. Climate changes their top issue. And it's significantly more now so all the sudden as you see the generation respond to events around them. You can sort of see how they're shaped so if you wanna make sure in line with their values you gotta know what their values are going. Even deeper on the employment side is people look to hire them. Gen z no is looking for stability. This one's this one's tougher for entrepreneurs. So i want to explain it. They're looking for stability in an employer. What do i mean by that. Gen z saw these layoffs. I heard the layoff. Seen millennials struggle and as a result they're looking for an employer that they view as stable. So it's interesting because they tend to automatically defined stability by being a big company. So they'll say. I want to work for a big company will say why and they well because they're stable and the truth is you and i both know that. Just because you're big company does not at all mean that you're stable and just because you're a small business doesn't mean that you're not stable so it's important that you message to them. We also found in our research is gen. Z is very much interested in benefits which is shocking given their age in fact two years ago. Twelve percent of gen z was already saving for retirement. Wow and yeah. That's crazy right and many of them already have an emergency savings account. These are eighteen year olds. That are taking up their phones showing us emergency savings accounts and it. Just it's such a different generation. I think the key here. Mrs so important for all the marketers who are listening our nation is at gen. Z is not millennials. Two point oh they are not millennials. Just more extreme. That's total bunk. People say that it is not true. Jesse is a completely different generation raised by different set of parents who has come of age only knowing social media it has always existed for them. That's why they trusted so much at the same time. They're more diverse than any previous generation. Different set of values different purchasing pathways. And now the key is they over index on influence because of how they use digital media and already twenty four years old fastest growing generation in the workforce today on a percentage basis. And they're gonna be the most important consumers to get right over the next ten to fifteen years. One thing that i assume and please correct me if i'm wrong. Because it's just an assumption but generation x. And millennials like this is like. I'm speaking of my generation's here that i cut kind of overlap. Both pretty closely. It's we came to like being seventeen eighteen years old and it came to money in debt. Just kind of close our eyes and kind of believed the rhetoric of. Hey you just have to go to college and it's going to be expensive and you're going to get college dad and that's okay and you're just going to be a paid off at some point in the future and now like millennials and gen xers just hammered with this dead. They can't payoff ten twenty even sometimes thirty years later because it was just brutal with the mountains of debt that people kind of blindly get into it. Seems from what you're saying. Generations not gonna kind of take that same approach in just blindly. Sign away their lives to this debt of secondary education in colleges and universities in the such. Is that true. Wow that is such an insightful. I mean you you are super pro do so yes. That is actually true What's interesting is when we studied student. Loan debt with millennials in particular. That's what we call an economic anchor. So what it's causing. It's actually causing millennials. Now this is wild to delay marriage kids and buying a home because of student loan debt and that has massive ramifications on all parts of the economy to everything from financial services whether or not. You're buying life insurance. You know the the homebuilding recovery like on and on we could keep going to income households. There's just there's so many things that are impact even ultimately the ability to take care of your parents later on so what we saw. Was that large student loans at delayed major life commitments which we which is what's happened as a result And by the way gen z will tell you they're not sure that if spending a whole bunch of money and college actually pays off his it remains to be seen right now for millennials. We were told. I'm a millennial. We were told getting the best college at an. Just get debt. And will all be worth it and then for a lot of it wasn't on the flipside. Gen z in our new. Study in this in this economy book because it's important to understand how thing about education gen z is trying to graduate from college with as little as possible ice which is super cold. They're also saying that they're looking. They're very interested in the employability of their career. So so if they go and they pursue a certain path. Am i going to be able to get a job in that path. Now by the way kobe. Nineteen has been a massive massive. You know challenge for that because there are people that were three or four years into college university you know. Maybe they're going to study retail merchandising. Well aren't hiring never hired for that role again or they studied. You know oil and gas and those aren't hiring whatever it is so all the sudden people who already had you know pretty heavy commitment are now realizing that that path isn't there for them but we are single. Gen z particularly during this experience. Right now is they're saying. Hey i want to make sure. I'm getting value for my education and raven seeing well if it's going to be online only i'd rather go to a community college or state school or somewhere else. Get some credits. And then i'll figure out. If i want to go back into the future maybe take a year off and then come back and so forth so there definitely much more conservative with debt when it comes to college university and by the way the other people who are more conservative are their parents boomers had to cosign on all those millennial loans just. That's my mom about it right. And that as a result for many millennials it was tough for them to pay it off on the flipside. Gen-x is going well. I don't know if it's worth it gen x. Gen z kids. You will not end up. Like those millennials so the that's also being weighed into the conversation now is college university worth it and then you add the layer of kobe. Nineteen is it worth it if it's nontraditional experience and you know i don't know the answer to that but it is something we're observing and now this is where it gets really interesting. So the oldest members of gen z. Those that are about eighteen to twenty four. They're bearing the brunt of this. Pandemic what i mean by that is in our latest study. That group was most likely more than any other generation to lose their job. Have a decrease in pay or have a shift in responsibilities meaning. They had to assume a job that they didn't sign up for where it gets interesting though is younger so my daughter is nine years old. Her name is russia Sushi is in fourth grade right now. She heard this is in the book in third grade. Her last end of the year project. Which i didn't know anything about Was she went and built a presentation. She built all and google sides. She built it all in spanish. She had animation. She presented it. She recorded it and then she uploaded to classroom and she thought that was completely normal. She's nine and then of course. You saw one of my powerpoint slides. He's not very good. So i say that because the younger members of gen z. This is the real twist here. They might end up turning this pandemic into a positive. Because they're going to learn a whole different way to learn to collaborate they're going to get the benefit of the older part of the generation struggling. So they can learn from them. All of this stuff largely will be resolved in terms. Of least what normal looks like in the future and so they're gonna get the benefit of all of that the closer you are to those transition years of eighteen to twenty four the worse is but the further away the more benefit could end up being you so it's pretty interesting that within the same generation you can have two very different experiences and by the way this is what happened. To millennials millennials like me who crashed into the great recession and then the millennials who came afterwards who benefited from a very robust economy. So even within the same generation you can see pretty significant differences. I mean fire nation. I really hope you're enjoying this contest. Much as i am. Because i'm seeing the application to the real world and that's so important because we're entrepreneurs in the real world. We own businesses and companies in the real world in this stuff makes a massive impact so jason of everything that you shared today. What's the one key takeaway that you really wanna make. Sure fire nation gets from all of this awesome stuff above generational impact and the generational studies. That you've done and then share how we can even learn more about it through you and any call to action. You might have for fire. Nation is time to share. Yeah absolutely so the number. One thing that i would share. You know as an entrepreneur myself now for twenty four years is i would do. It's called a generational snapshot and what that means is you create essentially a pie chart representing the different generations. Either of your customers or of your employees or team members or ideally of both. Because what you'll often find is that there's more generations and you suspect it and it will help you to shape your messaging your leadership in your marketing to better fit them and going a bit further if you don't see enough of the next generation coming in particular on the customer side that's definitely a yellow flag that you need to pay attention and make sure that your dappling for the next generation because they will be the ones that drive growth. So that's the best easiest how to that will cost you zero dollars that a promise will make you money. Which are the type of things i'm all about. And if you want a whole bunch more in terms of how to actually recruit and retain motivate and so forth across generations or market and sell. You can definitely check out the new book. It's called economy. How gen z will change the future business and what to do about it. We do talk about all four generations and just packed with how to in case studies and all kinds of cool stuff and we'll put together a special promo for fire nation. New it be on my website. Which is jason dorsey. Dot com slash. Fire you'll be able to get all of that. They're including three free video courses. Because i am a passionate entrepreneur. Have been for a long time. And anything i can do to help them. Nation will fire nation. You are the average of the five people you spend the most time with and you've been hanging out with j. d. n. j. l. d. So keep up the heat and head over to your fire dot com type jason in the search bar. The page will pop up with everything that we've been talking about today. But of course jason. Dorsey dot com slash. Fire is gonna get you to that gray page with all that awesome content. And i just wanna jason. Thank you for sharing your truth. Knowledge value with fire nation. Today
Amazon doubled its profit during the pandemic
"Given this huge surge of demand. How profitable has two thousand and twenty pm for emerson. Well it looks like in terms of its of its revenues. It's just off the scale. Really a big big on both the top and bottom line. We've got revenue coming in amazon. Report is third quarter results. Companies revenues were ninety. Six point one. Five billion dollars is not income. Increased to six point. Three billion dollars in the third quarter. That's nang well. The stock is up almost two percent here after hours. Mike that's quite a bottom line. Beat here for amazon operating cash flow increasing fifty six percent. Everything he's going through the roof. I mean the numbers are so big that have no sense really of what they mean but i can tell they made the amazon has done very very well and so that leads me into my next question. Is this a company that pays its taxes and plays fairly in the marketplace so there are huge questions about amazon taxes. They pay the taxes all over the world. The question is how much tax they pay. So in september it was reported that its sales in the uk had surged fourteen billion pounds but it paid only two hundred ninety million pounds in uk tax. Now that as far as i understand it is because the level of profit that it declares is relatively small but it's turnover and its revenues arguably speak for themselves and that's a huge source of control busy so for example in two thousand eighteen in the usa amazon posted income more than eleven billion dollars but the company paid nothing in federal taxes. Nothing nothing and that's because they would say well they've only just started to turn a profit
Are Movie Theaters Screwed?
"I'm Sean. Fantasy and Amanda Events, and this is the big picture. A conversation show about movies. There is a lot of news about movies in the world right now, but not so many movies, it is officially August which means three things one, it is hot as hell outside. To its Amandus, birthday happy, birthday Amanda. Thank you shot three a very bad time for movies and this year. Of course, it's unusually bad. Thanks to covid nineteen. So man, we have a lot to talk about today's episode a lot about the state of the movie business and more specifically about where you didn't spend your birthday, which is in a movie theater. Because movie theaters are not open and it's sort of feels like movie theaters are screwed. We're going to talk a little bit about some of the decisions that Mc made last week and the ramifications of that, and maybe some of the financial decisions that AMC made earlier today, and what that means for the future of movies. It's a very complicated time. Can you help us understand just a little bit of what transpired last week between? AMC and Universal Studios. Yes. So we got the ultimate resolution of the great trolls world tour fight of twenty twenty, which is that after much public negotiating and wild statements made on both sides, AMC theaters and universal came to an agreement and universal movies. Now will be shown in AMC theaters with a new theatrical window of seventeen days, which is notably shorter than the previous window that most that all studios and movies operated under in the United States. That window used to be in the neighborhood of between two and three months, and that meant films has a plan theaters for nearly a quarter of the year and sometimes more than that before you could find them at home and that's changing I sort of I. You know it's clearly changing for the purposes of universal movies. No other studio has come to this agreement and universal. Universal has only come to this agreement with one theater chain. Am See. So this is not a cataclysmic event, but it certainly seems presidential. It certainly seems as if it's something that is going to send shockwaves throughout the industry for the future. You know. Obviously, we spent so much time on this show talking about the slow atrophying of the theatrical experience. This feels as significant. A story has happened in that respect I was just doing some doing some Napkin math last night about box office receipts, and so over the past ten years, the annual domestic box office has averaged about eleven eleven, billion dollars in the United, states, and right now, it sits at about one point, eight, billion dollars with just about two plus months of true box office. So. These are really desperate times for movie theaters and so am see I. I'm trying to understand what specifically is motivating AMC's whiplash decision making because as you said, Adam Erin who is the CEO of AMC had some very strong words for universal's decision about trolls world tour about four or five months ago, and now they've made nice and in fact it it sort of feels like AMC took a hit here in this negotiation, what do you think is animating their their decision making deep financial desperation just this absolute total. What else can we do to keep the lights on? which I am not a do not have an MBA. Okay, and I'm not an economist, but there has a lot has been written. You know in deadline and in the Wall Street, Journal and the trades about the extremely precarious financial situation of AMC in particular, and obviously all of this is heightened by the fact that movie theaters have not been open for months now and they don't have a business model because of covid nineteen but I think you know covid nineteen has really exacerbated. What was. A A tricky situation for all movie theaters. But especially, it seems AMC just because of how it's business it structured and you mentioned today there assume news about AMC's restructuring in order to. Reallocate some of its debt, but it just all seems under the guise of we have to keep the lights on because we do not have cash on hand and movie theaters aren't open and we don't know when they're going to be able to be open most places, and if we don't have cash coming in, then our business no longer exists. So AMC it even it seems within the realm of the theater chains who are all obviously impacted by covid nineteen seems to be really motivated to figure out any income stream that it can right
Are Movie Theaters Screwed?
"I'm Sean. Fantasy and Amanda Events, and this is the big picture. A conversation show about movies. There is a lot of news about movies in the world right now, but not so many movies, it is officially August which means three things one, it is hot as hell outside. To its Amandus, birthday happy, birthday Amanda. Thank you shot three a very bad time for movies and this year. Of course, it's unusually bad. Thanks to covid nineteen. So man, we have a lot to talk about today's episode a lot about the state of the movie business and more specifically about where you didn't spend your birthday, which is in a movie theater. Because movie theaters are not open and it's sort of feels like movie theaters are screwed. We're going to talk a little bit about some of the decisions that Mc made last week and the ramifications of that, and maybe some of the financial decisions that AMC made earlier today, and what that means for the future of movies. It's a very complicated time. Can you help us understand just a little bit of what transpired last week between? AMC and Universal Studios. Yes. So we got the ultimate resolution of the great trolls world tour fight of twenty twenty, which is that after much public negotiating and wild statements made on both sides, AMC theaters and universal came to an agreement and universal movies. Now will be shown in AMC theaters with a new theatrical window of seventeen days, which is notably shorter than the previous window that most that all studios and movies operated under in the United States. That window used to be in the neighborhood of between two and three months, and that meant films has a plan theaters for nearly a quarter of the year and sometimes more than that before you could find them at home and that's changing I sort of I. You know it's clearly changing for the purposes of universal movies. No other studio has come to this agreement and universal. Universal has only come to this agreement with one theater chain. Am See. So this is not a cataclysmic event, but it certainly seems presidential. It certainly seems as if it's something that is going to send shockwaves throughout the industry for the future. You know. Obviously, we spent so much time on this show talking about the slow atrophying of the theatrical experience. This feels as significant. A story has happened in that respect I was just doing some doing some Napkin math last night about box office receipts, and so over the past ten years, the annual domestic box office has averaged about eleven eleven, billion dollars in the United, states, and right now, it sits at about one point, eight, billion dollars with just about two plus months of true box office. So. These are really desperate times for movie theaters and so am see I. I'm trying to understand what specifically is motivating AMC's whiplash decision making because as you said, Adam Erin who is the CEO of AMC had some very strong words for universal's decision about trolls world tour about four or five months ago, and now they've made nice and in fact it it sort of feels like AMC took a hit here in this negotiation, what do you think is animating their their decision making deep financial desperation just this absolute total. What else can we do to keep the lights on? which I am not a do not have an MBA. Okay, and I'm not an economist, but there has a lot has been written. You know in deadline and in the Wall Street, Journal and the trades about the extremely precarious financial situation of AMC in particular, and obviously all of this is heightened by the fact that movie theaters have not been open for months now and they don't have a business model because of covid nineteen but I think you know covid nineteen has really exacerbated. What was. A A tricky situation for all movie theaters. But especially, it seems AMC just because of how it's business it structured and you mentioned today there assume news about AMC's restructuring in order to. Reallocate some of its debt, but it just all seems under the guise of we have to keep the lights on because we do not have cash on hand and movie theaters aren't open and we don't know when they're going to be able to be open most places, and if we don't have cash coming in, then our business no longer exists. So AMC it even it seems within the realm of the theater chains who are all obviously impacted by covid nineteen seems to be really motivated to figure out any income stream that it can right now. That's. That's at least my reading I. Don't know what you think. No I. think that's exactly right and I think it's notable that in this deal with universal in addition to clearing new cash flow from that debt restructuring the you mentioned there, the AMC is going to get money from universal when it takes its films to peavy od after that seventeen day window, and that's that's a highly unusual arrangement for streaming revenue to filter back into a theatrical a theatrical. I don't what, what would you call it? A tithing basket I'm not sure what does that. What does that represent to Hansie's business I? Don't I'm not sure I understand
Bayer says it's paying up to $10.9 billion to settle a lawsuit over subsidiary Monsanto's weedkiller, PCB cases
"Waters Germany's Bayer agreed to settle U. S. lawsuits claiming that it's widely used weedkiller roundup cause cancer for as much as ten point nine billion dollars after more than a year of talks the German pharmaceutical giant will be paying almost eleven billion dollars to settle a lawsuit over subsidiary Monsanto's weed killer roundup which is facing numerous lawsuits over claims it cause cancer bear says will also be paying up to one point two two billion to settle future claims including one involving PCB in water the roundup settlement will bring closure to nearly three quarters of the current one hundred twenty five thousand filed an un filed
Public Health directive urges Seattle-area residents to wear face coverings in most public settings
"We don't want to have to go back to locking down communities I much rather see people locked down their mouths and noses I'm locked down their neighborhoods tonight a new king county directed strongly urging everyone to wear a face covering in public places officials call this a precarious moment saying we need to keep the virus from bouncing back as the state begins to loosen restrictions the directive that takes effect one week from today calls for people to cover their mouth and nose indoors in public places like a grocery store it also applies to outdoor areas where it's difficult to say at least six feet apart from other people now this directive is voluntary and will not be enforced I was told we don't live in Seattle with the push to cover up Joel it is a real mix when you venture out as to whether people are wearing masks or not now though with this new directive a lot more stores could be posting signs in this request to mask up will really be in people's faces when it comes to wearing masks some people do but a lot of others don't now king county is asking that mass become the new routine when people are out in public especially indoors sales guys I'm a mom back on mass have become a flashpoint of sorts in a new source of social pressure yeah every once in awhile you know walking down the street wearing a mask people kind of sometimes look at you funny as people who say they wear masks but don't want to be told that they have to I think people should be able to do what they want to do in a situation like king county the Snohomish health district has no formal policy but says cloth face coverings are strongly recommended the two characters county health department says it's your choice to wear a homemade mask consider this step when you can't safely social distance store or in public settings mask and also create some unintended challenges a furniture store owner says he checks ideas for customers who prepay and then come down for curbside pickup but mass could make that verification difficult you know you don't want them to take off their masks so you could see that they match up but they have enough of the details of their I think you're just gonna have to go with it the Seattle says it will be announcing a change in the coming days actually mandating that people wear masks inside of city buildings when that announcement comes out we'll see how it shakes out back to you the new directive also covers king county metro transit passengers now required to wear a face covering on king county buses but compliance it's once again voluntary metro says operators will not stop passengers from boarding if they're not wearing a mask it is not planning to hand out masks to any riders to help boost compliance with the directive Seattle and king county or handing out a total of one hundred sixty thousand face coverings to low income adults the homeless and other vulnerable people community organizations and food banks will help distribute those mass that brings us to our poll question tonight we asked of the king county director will change your mind about wearing face coverings so far nineteen percent say yes eighty one percent say no we also asked people on Facebook if they're wearing a mask and why or why not nearly two thousand if you've commented Donna says can't hurt anything and I will respect and ploys of a business I go to and my fellow Americans health Jason writes I can't wear the mask I get anxiety and shortness of breath he says I wish I could wear one but I can't king county has the highest number of coronavirus cases and deaths in the state at least five hundred six people in the county have died statewide there are twenty new deaths reported by county health departments bringing the total to nine hundred fifty one and there are more than seventeen thousand confirmed cases of covered nineteen two hundred and fifty two thousand people have been tested so far in the rate of positive tests dropped to six point eight percent tomorrow we expect to get an update on disease activity in testing abilities from state health officials as well as the governor's office and we plan to ask about the new recommendation from the White House for every nursing home resident and staff member to be tested for covert nineteen in the next two weeks the White House also said it's earmarking eleven billion dollars to help states ran Bob testing
"eleven billion dollars" Discussed on 860AM The Answer
"In district eleven billion dollars from the latest relief bill approved state testing efforts president trump announced that the funding of more corona virus testing is a core element of the plan to gradually and safely re open America this major investment will ensure that America continues to conduct more tests than any country on earth by far the funds will be allocated based on state's population size and how heavily they have been impacted by the outbreak at a minimum the White House wants all states testing at least two percent of their populations Greg Clugston Washington Senate Republican leader Mitch McConnell says Democrats opposition to all trump nominations are slowing up work on coated nineteen relate with Democrat Charles Schumer complains of looking at the Senate calendar you'd think there was no pandemic it looks like any other session a few executive nominations hearings on right wing judges Majority Leader McConnell response Democrats keep insisting the coverage of trump nominees take as long as possible before voters say they dislike of the direct result of their own tactics comes as demanding roll call votes on trump's nominees is also preventing the Senate from working remotely bothered to report there is coverage for Mars Florida governor Roger satisfies that as Florida takes steps to re open some regions are doing better than others the four hundred and five new Florida case is only a hundred and eighty seven of them were in phase one counties and so out of the sixteen million hundred eighty seven cases then out of the six million with southeast Florida you have the majority of the cases still that's been a pretty consistent theme the White House is requiring everyone who enters the west wing to wear a mask or face covering after coronavirus Kerzner president trop FMO said all staff outlined the new directive on Monday after.
"eleven billion dollars" Discussed on TalkRadio 630 KHOW
"Trump says eleven billion dollars allocated by Congress will be distributed to states for testing so there's all been approved we've got it done completed the money's going out president trump was asked when Americans will be able to get tested daily while returning to work just as White House staffers are he says very soon a White House memo says everyone who enters the west wing is required to wear a mask or face covering it comes after two people who work in the White House tested positive for corona virus last week more states are taking steps toward re opening governor John bel Edwards says Louisiana will enter phase one on Friday the people of Louisiana have worked really hard since his public health emergency mmhm was the first announced in order to slow the spread to cope at nineteen man I am proud New York governor Andrew Cuomo says parts of upstate will begin to reopen Friday but not New York City or its surrounding areas this is ABC news malls in Iowa are open for business but the Iowa department of public health is only allowing malls to reopen at fifty percent capacity hours are reduced in social distancing measures are in place is Amazon eyeing another major acquisition Amazon already in the movie game the first streaming service to win an Oscar back in two thousand seventeen when Manchester by the sea picked up three awards from the company might want to own your theater experience as well the UK's Daily Mail reports that Amazon has held talks about a potential takeover of AMC the world's biggest theater chain though apparently it's not clear what stage of those talks are in an Amazon AMC aren't saying anything Wall Street is though the news driving AMC stock up over fifty percent of times on Monday AMC has been struggling big time with the still mostly closed around the globe J. Symington's an ABC news Hollywood authorities have captured a man who escaped from a Chicago jail by apparently wearing a corona virus facemask and pretending to be another detainee is set for release investigation is under way Markram alarmed ABC news we understand that.
Loopholes In Small Business Relief Program Allowed Thriving Companies To Cash In
"Here is the harsh math of the paycheck protection program. Hundreds of billions of dollars in USA government loans are not nearly enough for every small business in need so in one company gets alone. It that others may not. That's why it matters that accompany received millions at the very moment that it's business was booming. Npr An investigative correspondent Cheryl W Thompson reports. If there's one sector of the economy that's in high demand right now. It's medical testing earlier this month. Long island-based Kim Bio Diagnostics was one of the first companies to get emergency. Fda approval for blood tests to detect covert nineteen antibodies and says board member and former interim CEO Gil page. They're looking to grow and order. I the ramp and as the things we need to do to increase Armenia factoring capabilities. You know we felt like having the supplemental a dollar amount or law is very helpful in helping. Us employs people alone. She's referring to the SBA paycheck protection. Program Kim biometrics diagnostic tests for all kinds of infectious diseases. They worked on HIV EBOLA ZEKA and others. Fda approval of companies fingerprint cove in nineteen tests created a huge opportunity. Their stock price averaged about five dollars a share over the last year and yesterday it closed at about eleven dollars the paycheck protection loan would give them the liquidity to help them grow. They applied for and got nearly three million dollars. When you get these pandemics and there's all of a sudden this big rush and you need to be able to supply the problem is. That's not what the paycheck protection program is designed to do. The goal here isn't to expand the size of companies. The goal here is to kind of keep them alive while we get through this crisis. Margot D- wine is the senior policy director for the Committee for Responsible Federal Budget in Washington. Dc He says the program is for companies that are struggling losing customers laying off employees on the brink of shutting down companies. Have to self certify that they need this money because they are experiencing adverse effects if they are not experiencing adverse effects. It's probably inappropriate. Gilpin says it was totally proper for Kim Bio which has gotten government grants over the years to work on diagnostic testing to take the paycheck protection. Money when you have a crisis locked it a lot of the customer base that you dependent upon your revenue Kinda slip. Serve here to the side so another. I stay viable and we felt like we needed to participate in stock. Price doesn't represent necessarily cash in the bank. One issue with the first round of disbursements. Was that the law was murky. Florida Republican senator. Rick Scott expressed concern last week. The company's not heard by the pandemic found loopholes and got millions of dollars and remember even though they're giving us loans. Most of the money will be forgiven by the government. As long as it's used appropriately earlier this week officials began issuing a second round of loans. Three hundred and eleven billion dollars. The question is whether mistakes will be repeated. Go Wind says in fact in this next round of funds it looks like the SBA. We'll be doing some more oversight Treasury Secretary. Steve MNUCHIN has tow companies that received money but may not have qualified that they have a grace period to return it the SBA told NPR. That two billion dollars has been declined to return so far that money will now be available in the current application process. Geico page the board member at Kim Bio says the company hasn't decided whether to return the nearly three million dollar loan it
HSBC sees mounting credit losses after pandemic halves first-quarter profit
"So much now let's get back to the banking earnings from this morning Europe's biggest lenders have reported a surge in credit losses amid the corona virus outbreak HSBC taking its biggest charged about deaths in almost nine years and saying it expects credit losses to rise to as much as eleven billion dollars this year the picture was a bit better over at UBS which saw net profit surged forty percent despite concerns about income streams from its wealth management unit for more let's bring in Jonathan Tice senior analyst for European banks at Bloomberg intelligence I'm Jonathan great to have you with us I know going into this you were hoping perhaps for some sort of guidance from the transformation planned they announced back in February a lot of which has of course been put on hold because of corona virus the shares are down just a little bit today down one and a half percent in London and a what was the biggest takeaway for you what sets the scale of the credit losses that we might see in twenty twenty but also the fact that that number as CFO you Stevenson said to us on TV could be subject to change
Australia unveils $11.4 billion in virus outbreak stimulus
"Meanwhile Australia has unveiled more than eleven billion dollars in a fiscal package to tackle the corona virus outbreak that the program includes a cash amount to safeguard jobs and also a money for love income households the government is also pledging to support small and medium size firms during unexpected
COVID-19 Escalates but Biotech Bright Spot in Trillium Therapeutics
"So again. I'm glad to be back and appreciate everybody's attention today. And we have an extensive show ahead of us so I'm going to talk about a variety of different things. I WANNA touch on some latest biotech news a menu to talk about the vijen earnings report that. I said I would get to so. There's a few interesting tidbits. There have to talk about the covert nineteen story because that's been really blowing up and I think there are significant implications for the market. And then I'm GONNA finish up by talking about the latest in the anti CD. Forty seven technologies and specifically. I'm going to focus on trillion but also gonNA touch on T. G. Therapeutics so at that. Let's just get right into it. And the first piece of news I had to mention. Is that a sperry on recently. Heard News that they're two compounds. Were approved by the FDA. The one is just the paddock acid pill which they've named it next next little and the dog acid is it. Ahmad Combo pill was also approve. Called next Zet so good news for them. They finally breached the finish. Line are GONNA be able to sell these products. The stock did KINDA BUMP UP AFTER. This news came out but then with all the News Cove Nineteen. The stock did sell off. And I think it's hanging around fifty bucks I still have ten shares. Probably GonNA sell relatively soon just to you know take the prophets and look for more opportunities that have larger chance of bringing a return on my investment but great news for them. The next piece of news I want to talk about is and we heard that they are exploring a potential buyer according to Bloomberg. We haven't heard too much confirmation since then but in the past week we've seen the stock runup quite significantly and it looks like there's a good chance that somebody could pick them up. I'm still holding only about ten shares unfortunately but I'm probably going to sell them just because I feel like we've heard a lot of these rumors once in a while. And often times they don't come to fruition Annan. Pretty happy with the Prophet made so far and given it's only ten shares. I think I might again sell these enda and look for other opportunities. That are coming around the next piece of news. I want to talk about his ammon. And they have been all over the place lately We heard that they released some post trial documents. Because they're undergoing this litigation right now to maintain exclusivity for their patents and you. I kind of glanced at them. I don't really know what to make of them. We're still waiting for a judgement to come down and we'll see that. Relatively soon I think and negativity around the stock. I think is going to be uplifted once that goes through. And we should see a return. All-time highs I've been adding the stock as it's been down and it's pretty heavy in my portfolio now so. I still think that they're goodbye here. The next piece of news on touch on is the latest from the American Society of Retina specialists. And this is because I have touched on wet. Amd in previous videos by interested in this space and they announced that Bayview patients and this is the drug for wet amd that was recently approved by Novartis and this a s R s society issued a warning about fourteen cases of retinal vascular disease with eleven of those being occlusive retinal vascular. Now this can be actually pretty serious condition. That can lead to permanent blindness. So it's It's fair for the society to to issue a warning to people who are considering this therapy especially given that. There are other therapies. That don't have this risk that have been approved in in circulation for awhile now. Nevada stands by view. And they said that. There's been an estimated. Forty six thousand injections done a bill view so far and they did not see that this happened in their phase three trials they did mention there were sixteen cases of ubiquitous and nine cases of Iras. But they still stand by their own compound and they're saying that they're doing post market surveillance to see that's going to be a problem but When this news came out we saw that Novartis Kinda dipped and regeneration stock increase quite a bit just in the expectation that more people are gonNA stick with Lia which is the drug that was approved. That's been approved for a lot longer than bayview and there are more frequent injections. But it's obviously more safe. So all of this could be prevented if re-genesis BIOS drug there gene. Therapy for wet. Amd can hit the market and then patients would only really need one injection hopefully to To prevent Amdi from happening. So that's kind of an interesting thing going on with the amd space so to hit the major stories that I want to talk about today though. We're GONNA talk about biogen. The cove in nineteen esscalation. And then I have here. That Gilead announced that they're going to buy the company named forty-seven for four point. Nine billion dollars and this is worth mentioning because the company talking about which is trillium also has an anti CD forty seven antibody in hopes of using it for hematological malignancies but also potential in solid tumors. So we're GonNa talk about that as the feature story but first thing. I want to talk about his budget so I went through the earnings report and I have touched on by. Jin on a number of different occasions in this podcast. And I think it's a really interesting company being in that kind of mid to large cap space what they announced that their revenue went up seven percent year over year. And amongst all of that the MS franchise was actually down four percent year over year. But what they did is they included cruise. Which is an anti CD. Twenty compound but it's also used to treat ms so they included that in the press release to make the overall year over year revenue increase by two percent. And I think they did this. Because the franchise itself up sixty percent of by toll revenue so to show that that franchise is actually increasing has kind of beneficial from a PR standpoint. They also announced that verity was approved for relapsing. Ms And we did hear that last year. Visionary is similar detector but it has fewer Gi side effects so this was approved it was shown to be non inferior to tech Videira so this is just adding to its. Ms Franchise is going to be continuing to prevail in being a large revenue generator. For by. John. I believe we also saw and I mentioned this last time that the Texas air decision was positive for biogen. So that compound is can also be protected. Biden's going to maintain its exclusivity. So that's good news for that. I don't see the franchise decreasing substantially. It's probably only going to increase with the vulgarity. Approval there are competitors coming on the space but given that by agendas so many MS compounds right now. That are pretty effective. I think it's going to be a continual driver of revenue for the company now in terms of the upcoming revenue generator spin. Rosza is is one of those that's done in the market for. I think almost a year now and revenue increased nine point three percent year over year which is great and this franchise makes up fifteen percent of total biogen revenue so that has increased over the past few quarters. I think as I as I looked at this and they did mention here that we expect the rate at which spinner is a revenues will grow will moderate in twenty twenty compared to twenty nineteen primarily due to a lower rate of new patients starts combined with the impact of loading does dynamics as patients transition from dosing every four months so the way the payment system works for. Spin Rosza is that it costs seven hundred fifty thousand for the first year and then subsequent loading years just cost three hundred seventy five thousand Subsequently so we see this big boost in revenue. When there's a lot of new patients starts and then it Kinda tapers off as patients or just getting that loading dose. So I think that's why they're saying that. Revenues will moderate because the amount of new patient starts is actually decrease and I think this is due to vexes. Launch of excess Novartis is launch of their own therapy for spinal muscular atrophy. So I think as that competition continues the amount of revenue that's generated by spin. Raza is GonNa flat now and patients who likes Raza will probably stay on it but I think that that increased competition. It's still going to harm the new patient start so I don't see this space necessarily increasing too much now. Other things to consider is the repurchase program and this boost the stock price pretty substantially in the last year they repurchased twenty four million shares and that was a cost of five point nine billion dollars and by my calculation that means in the current repurchase program they have about twelve million shares to continue to buy and their net. Cash is still three point. Five billion dollars so they have a lot of cash on hand to buy current shares that are outstanding which is only going to support the price of the Stock. Moving forward another thing. They announced is the commercialization rights to idea as well as loose cintas. So going back to what I said about the wet. Amd space these two compounds are the current kind of establish treatment for wet amd with view just recently being added the size of the market for I league in Los Angeles is eleven billion dollars but these are going to be biosimilars and as we know. Biosimilars don't generate nearly as much money as the actual panel drug the current by similar. That biogen has day only make about one tenth of the revenue of the panel
Between President Trump's Border Wall And The Rio Grande Lies A 'No Man's Land'
"President trump is moving ahead with his border wall yesterday. He signaled that he wants to divert three point eight billion dollars from the Pentagon's budget and set it. Aside for border wall construction that is on top of the eleven billion dollars already planned but down on the border of the project is wreaking havoc for landowners in Texas. It's being built right. Through the middle of many properties leaving thousands of acres in a kind of no man's land between the barriers and the Rio Grande and John Burnett reports this overgrown thorn scrub is the Nether world between the United States and Mexico to the north border fence to the south the muddy meandering Rio Grande. This was Fort Brown Memorial Golf Course on the side of the historic fortification. That gave the city. Its name but with the US government. I started building border. Barriers under President George W. Bush. The entire eighteen hole course ended up on the south side of the fence. Golfers didn't like having to drive through a gate and being walled off from the rest of the city. This spit of land suddenly felt unsafe. None of us come over here. You don't feel protected in any part of the land is south of the wall. Who'll yet Garcia is former president of the University of Texas Brownsville which used to operate the skull course but when the golfers stopped coming it went bankrupt today the clubhouse shuttered and the wants manicured Greens have returned to nature. What used to be a very active place very friendly place for students and far golf team and for Winter Texans has become a deserted sad desolate. No Man's land. President trump has pledged to build more than five hundred miles of new border. Wall out west. It runs along the straight land boundary with Mexico but in Texas that line is the curvy Rio Grande and because of flooding concerns. The Wall is often built some distance away as much as a mile north of the river. The defunct Fort Brown Memorial Golf. Course is a cautionary tale landowners fear. The Wall will effectively sever their acreage from the United States leading. It abandoned lawless and unprofitable so far fifty. Five property owners have gone to court to try to block construction to hear their concerns. I headed West on military highway. First stop is the River Bend Resort and golf club where the owners were planning a major expansion worth. Millions of dollars then came the border wall. The thirty foot wall through the middle of the property kills our project completely kills our project. Jeremy Bernard is part of the family that owns river band. Nearly seven hundred Americans and Canadians from the frigid north moved down here during the winter to enjoy. Short sleeves and Margaritas Bernard Parks his golf cart on the Levy. That overlooks the curved streets. Lined with fancy mobile homes and palm trees. This is where the proposed alignment is from Border Patrol. The problem with that is seventy percent of our property is south of the Levy that includes the REC center the pool tennis courts and fifteen of eighteen holes. All of it would be cut off by the wall. The frustrating thing Bernard says is they rarely see unauthorized immigrants and drug smugglers passing through here. His family is negotiating urgently with customs and Border Protection to move the wall slightly north. So it won't slice their property in half and yet Jeremy Bernard's politics haven't changed he remains loyal to President trump. And I've got friends that disagree with me and they say how could you vote for this man? What his wall wants to tear apart your community. The main thing I tell them look the thought that I'm going to agree. One hundred percent with somebody especially a politician is just outrageous. I just have an issue with the blanket. Let's build a wall everywhere as you continue on military highway urbanized. Brownsville gives way to fields of onions. Cotton and corn here. I find Richard Roy at his farm headquarters leaning on his pickup truck. He's this rich Delta soil all of his life I'm seventy years old and It just it's GonNa ruin my lifestyle here of been living in the country. I've never lived in town and To have that wall. There's just GonNa really disturb me but drawing Nosey can't beat Washington DC so last fall. He reluctantly SOLD THE GOVERNMENT. Aruban of land so they could erect the wall across his crop. Rose like Jeremy Bernard Richard draw supports trump and his all four increasing border security. He just doesn't want the wall in his property. I told him you know this stupid wall is going to have lights on it. It's GONNA be like being in prison while lights and everything and I said You put them lives up on me on my house. You know more. Shoot him out. Of course I have time to calm down. Joy has seen what's happened over the past decade to Riverside land that's isolated by the border wall weeds. Takeover and people are afraid to go there anymore on his farm. He's worried that bad hombres will cross the river from Mexico and threatened his farm hands. He says the wall seeds has property down by the river to Mexico. Like Tola Board. Joe I said look you know goodwill how you build a wall. All agents will done trolling up and down the law. They're never going to go on down to the river anymore. He yield back into the Rio. Grande is the first line of Defense Baloney. You just wait a few years. I shared these misgivings with C. Bp a spokesman responded the Border Patrol will continue to operate on both sides of the barrier to include the riverine environment further. They'll install electric gates with security codes to give landowners access to the south side of the wall. My Westward John. Across the valley terminates at the rustic campground of the Cavazos family. Fred is seventy and in a wheelchair. They were race here. My Dad taught me how to fish. Here OUTTA. Get a shovel and dig worms. He says they run a few cows but the main income is from tenants who built weekend shanties along the water's edge. A lot of time on boats a lot of own jet skis so they come down with us and sausages Saturdays and Sundays and barbecue. It's a hundred four and five so they feel great where you're out there jet skiing. The government wants to put the wall and a wide patrol zone. Along the north end of their property. Cavazos worries it will drive away. His tenants who may not want to be walled off from the rest of Texas like many large families down here the Cavazos clan is split someone to accept what they think is a generous offer from the government. Nearly four hundred thousand dollars for SIX ACRES BUT COUSIN. Ray who seventy-five wonders what happens? If one day they put the land up for sale. The problem is the devaluation of the property. Nobody wants to buy property. That's on the Riverside of the wall. So this is what the fight is going to be about ray. Infrared are fighting the government in federal court. They want to drag it out until election day hoping that the Democrat wins the White House and halts the border wall
"eleven billion dollars" Discussed on 90.3 KAZU
"Promise here Hughes at a rally in Milwaukee this week you're gonna have a wall like no other it's going to be a powerful to ridicule that promise comes at a cost as NPR John Burnett reports it is already the most expensive border wall in the world and the bills keep piling up to get an idea why we're spending a fortune on trump's border wall I've come out here to one of the construction sites down in the re Grande Valley of Texas on one side of a caliche road you can see the pedestrian fence that was directed more than a decade ago at eighteen feet that looks downright CUNY on the other side of the road our massive steel panels rising thirty feet above the cotton fields the price tag for the president's border wall now projected to be five hundred and seventy six miles long has pushed past eleven billion dollars to put that in perspective that's approaching the cost of a nuclear powered aircraft carrier president George W. bush's fence average four million dollars a mile trump's wall costs five times that nearly twenty million a mile but customs and border protection spokesman Christian Alvarez points out there's a lot more to trump's barrier the border wall system will include a hundred fifty foot enforcement zone lighting cameras other technology says that's gonna be the barrier itself there's more steel an expensive commodity in a thirty foot structure there are powerful floodlights every mile of it will have conduit for electric power in fiber optics that connect the surveillance cameras electronic gates cost up to one million dollars a piece and there's a graded graveled enforcement zone as wide as a six lane highway Congress funded the wall here in the Rio Grande Valley but the government still once more now see BP is dipping into six hundred million dollars from a treasury fund that holds money seized in criminal investigations some of that will be used to build the wall higher than ten miles longer there have also been unforeseen expenses to address serious seepage problems on the concrete levee wall along the Rio Grande those extra costs came to light in a deposition by a CBP official made public last week and the official said they need more money to cover the ballooning expense of acquiring the private property the wall sits on it just significantly increases the hurdles that the government has to face Scott Nicholas along time wall opponent with the Sierra Club down the valley he joins me a few days later at a spot overlooking the construction site where you have private property and the government has to go through the courts to get that property it takes a lot longer and it drives the cost up because you have to pay for that land you have to say in DOJ lawyers in to get that land just how expensive it is trump's wall the thirty foot U. S. wallet is the most expensive wall that's being built around the world Rees Jones is a geographer at the university of Hawaii who studies border walls there are now more than sixty border walls in the world Jones says they're much in vogue in the post Cold War era but he says the cost of almost twenty million dollars per mile is four times as much as the most expensive other walls being built Israel's wall in the west bank ranks as the second most expensive it cost one million to five million dollars a mile at thirty feet trump is also the tallest in the world of fact the president gushes over how very big and very powerful border wall is going up in a record speed and we are read it was fully finance for the record the wall is not going up at a record pace it's fallen behind schedule precisely because of the problems acquiring private land in South Texas but it is fully financed because of the president's willingness to sidestep a defiant Congress a Democrat controlled house authorized less than three billion dollars for the wall much less than trump asked for so trump shut down the government declared a state of emergency and diverted billions more from the defense department to pay for his wall pro immigrant groups promptly sued and initially succeeded in getting injunctions to block military funding for the wall but the Supreme Court and an appeals court have allowed the administration to proceed with construction representative Henry quay are it sits on the house Appropriations Committee I mean with all due respect to the present he's obsessed with this wall quay are is a Democrat from Laredo I live in the border I don't want to see K. us out I want to see law and order at the border but I don't want to just be spending billions of dollars of those federal contractors and who are the special contractors mostly giant construction companies accustomed to handling complex federal projects then there's Fisher sand and gravel the North Dakota company snagged a four hundred million dollar wall contract after C. E. O. Tommy Fisher went on fox news the president's favorite channel to boast how he could build it faster and cheaper on the California border so that current fence that they're building right now in Calexico the government has given basically three Hundred Days to build two miles with one crew we can build fifteen miles in one year now the Pentagon inspector general is looking into the contract auditors want to know if the White House steered to Fisher who says his bid was best meanwhile trump wants to build even more wall this week homeland security asked the defense department to come up with funding for two hundred and seventy additional miles a border wall the Pentagon is studying the request if approved that would mean three quarters of the U. S. southern border would be walled off from Mexico John Burnett NPR news of.
Ailing former WorldCom CEO Bernard Ebbers freed from prison for medical reasons
"The ailing former worldcom CEO is getting out of prison Bernard Ebbers the former worldcom CEO who was convicted in one of the biggest corporate accounting scandals in US history has been ordered freed from prison for medical reasons U. S. district judge Valerie ECA prone he ordered the release a lawyer told the judge the seventy eight year old Evers weight had dropped from above two hundred pounds to one hundred forty seven pounds last week world com collapsed and went into bankruptcy in two thousand two following revelations of an eleven billion dollar accounting fraud Evers was sentenced to twenty five years in prison after being convicted on securities fraud and other
Ailing former WorldCom CEO ordered freed from prison
"Bernard Ebbers the former worldcom CEO who was convicted in one of the biggest corporate accounting scandals in US history has been ordered freed from prison for medical reasons U. S. district judge Valerie ECA prone he ordered the release a lawyer told the judge the seventy eight year old Evers weight had dropped from above two hundred pounds to one hundred forty seven pounds last week world com collapsed and went into bankruptcy in two thousand two following revelations of an eleven billion dollar accounting fraud Evers was sentenced to twenty five years in prison after being convicted on securities fraud and other charges I might cross the
Saudi Aramco starts trading, gaining 10 percent
"Learning I'm David Brancaccio in New York Saudi Arabia's oil company Aramco today became the most valuable publicly traded firm in the world it's considered an act of patriotism for many Saudi elites to buy around because new stock and it popped up ten percent in early trading on the Riyadh stock exchange hitting a set upper limit for the day that puts the value of Aramco just under two trillion dollars eclipsing what is now number to a certain smartphone company based in Cupertino California here's the B. B. C.'s Amir Hashemi this makes it the largest listed farm in the world way ahead of apple is the largest oil producing foam in the world bumping ten percent of the total world demand every day in twenty eighteen and made a profit of one hundred and eleven billion dollars which is more than the combined profit of giants like Exxon Mobil and shell for Saudi Arabia the side he was crucial because they want to use this money to diversify their economy to in western new industries and projects that will help create more jobs and also take away the saw the economy which is currently heavily reliant on oil no that's a bear hush me with the
U.S. Cyber Monday sales to hit record $9.4 billion
"Cyber Monday shopping is expected to reach a record nine point four billion dollars in sales this year adobe analytics says that would be a nineteen percent increase from last year online sales for thanksgiving and Black Friday reached over eleven billion dollars according to adobe frozen to toys and ello surprise dials were among the top sellers on
"eleven billion dollars" Discussed on KCRW
"All of that but June motors rejected that parcel tax increase so now what teachers and students are back today it's the first day of the new school year and joining us as Alex computer pearl president of the teachers union you TLA hi there hi how you doing great so it's not a big blow for what you agreed upon with the district this rejection of the parcel tax yeah you know what we what we found is that obviously the opposition came out strong against measures ET there were very well funded interests you know folks frankly to support Donald Trump and put millions of dollars through the alley chamber of commerce against the very modest increased it was mostly going to go on corporate corporations and businesses to fund our schools and it was rejected we are moving forward we're making sure that the contract that we won through the strike is implemented this year that includes class size reduction nurses librarians counselors the regulation of charters and qualifications more green space at schools or make sure that's implements how will how will you do that superintendent awesome get nurse says he might try to put another parcel tax on on the ballot in the future well a couple things men do the the district have the money to pay for the next few years of this agreement and we knew that all along during the strike that the the we are at forty first out of fifty among the states of California is in per pupil funding so obviously something needs to be done we are not going to support old another local measure we just tried that with measure II we are strongly behind the November twenty twenty about initiative schools and communities first which is being built a statewide coalition and which would only create equity in terms of taxes on the largest and wealthiest our corporate property owners across California this is re doing prop thirteen right yeah but it but it doesn't touch homeowners at all there's many provisions of the protect small businesses it only hits the wealthiest commercial property owners that's eleven billion dollars across the state for schools and social services so that's what we're trying to ward is November twenty twenty okay so meanwhile will parents will students will teachers see anything different this school year anything batter as a result of this contract negotiation and the strike absolutely so what we're gonna see is classified caps that are enforceable for the first time we're gonna see gradual reduction in class sizes we'll see more nurses more librarians more counselors so yeah they're going to be some immediate things I mean it's gonna take a little while for the full program to be implemented but there will be immediate things a folksy and so awesome uterus talk about transparency and he wants to have the schools rated on a scale of one to five like so parents could go online and see if their school had a good or bad rating do you support that well we don't it's a it's a classic move of the privatized here is some in this comes out of bed Austin's playbook that Austin is a high priced lawyer who works with the charter industry it comes out of NYC Melvoin play book on the school board basically what they want to do is read schools while not taking into account underfunding while not taking into account arts music other things in schools offer well not taking into the into account poverty and other things that shape of school they want to rate them and then use that to flip them into charter so we absolutely oppose that in order to be very vociferous are on that but I guess from the point of view of a parent the parent does want to know if their shopping around for a school if they don't necessarily want to send their kids to their local neighborhood school how wouldn't this be a good way to understand at least broadly whether or not the school is is a place that they want to send their kids not in such a simplistic way I mean there's all sorts of conversations that we have with parents and there's all sorts of methods that we can use that look at the whole picture of all of the offerings of the school as well as the challenges of a school there's all sorts of ways to do that but not a simplistic in narrow one through five rating system that's not gonna work you're basically saying that's a wolf in sheep's clothing and basically it's a way to as you say turn the schools and charters why do you think that that's the the motivation because that's what's happened throughout the country if you look at Indianapolis if you look at New Orleans these portfolio district plans and we killed portfolio planned one point with our strike then this is pushed by the broad foundation by the warm foundation of Sarah basically the idea of breaking up a school district into networks of schools that you then hand over to private operators then there's massive equity problems without it doesn't get at the key issue the school funding etcetera rating systems like this are very very typical parts of those sort of portfolio plan packages so yeah we're we're not work for the civic institution of public education that serves all students by the way one of our contract re openers that we're gonna bring this year along with salary is of fighting for more improvements for special education students as well as more improvements in mental health services so what will work for the civic institution of public education that is well funded but is not threatened by privatizing issue frankly don't know education and that serve all students so it's a pretty ugly during the strike last year and let's go here and understanding things have calmed down a little bit between you and superintendent Austin peered is do you have any kind of productive working relationship well we work together on measure easy we were we were happy about that he has also committed support for schools and communities first which is going to make sure that the the largest and wealthiest commercial property owners are going to pay their fair share he supported by the mayor of supporting not so we're looking forward to working with them on getting those school funding things done but your relationship is how would you characterize it we're in communication making sure the contract is going to be implemented he said that the contract is going to be implemented the class size caps the class size reduction the nurses the librarians counselors green space reducing standardized testing support for immigrant students at cetera he said that it is going to be in force and so we're certainly gonna be working together on not we're looking forward to that as well but in the past you have basically said that he wants to turn the district into the charter school district and you know that you had some pretty harsh words went back and forth and I I just I guess someone and you trust him no more than you did in the past well I think what we'll see this year is how things play out in terms of enforcing this contract working together on schools and communities first making sure that this communities of schools idea really is about just making sure that services are closer to schools and it's not about a portfolio network if it were working together well on those things than that bodes well if we run into problems with those things that it doesn't bode well so weird so this is an important year for that relationship and we're certainly in discussions and we we want to see things move forward while for students Alex Goodlett apparel president detail.
"eleven billion dollars" Discussed on KQED Radio
"PM and six thirty PM here on KQED here's the final segment of All Things Considered and we'll check in with the BBC world service at the top of the hour from NPR news it's All Things Considered and there is always Kelly and I'm Audie Cornish stock prices soared to record highs today catapulted by president trump's announcement that the US is talking trade once again with China trump also said this weekend that he's easing trade restrictions on the Chinese telecom giant while away it's not clear whether the decision is a lifeline for while a or just a negotiating ploy and there is Jim zarroli reports trump has taken an especially hard line against while way calling it a very dangerous company and an extension of Chinese intelligence his decision to put the company on a commerce department blacklisting may would have forced US companies to obtain a license before selling to walk away but over the weekend trump softened his position he said US companies can now do business with while way as long as the transactions don't present a great national security problem we sell to while away a tremendous amount of product that goes into the various things that they make and I said that that's okay that we will keep selling that product trump didn't specify what kinds of products are now permitted and there's been considerable speculation about just how much of a reversal this was far away last year bought eleven billion dollars in computer chips and other items from U. S. companies such as Intel and qual com White House official Larry Kudlow told fox news on Sunday that the commerce department would probably open the door to sales of some kinds of items such as computer chips that are widely available in other countries there is a lot of technology services telecom related services there really you can find on general markets and we don't think have any national security implications but Kudlow was quick to insist that this wasn't amnesty for awhile away and national security concerns would remain paramount trumps apparent shift underscores how delicate an issue while way remains for the administration China hawks in Congress and the White House one trump to take a harder line against the telecom giant but economists Patrick show Vanik of silver crest asset management says both countries are just anxious to get back to the table so they can address their trade differences prompt and she I think Paul has an incentive to sort of call it time out because both economies are looking a little bit wobbly and China had threatened not to restart talks unless the hallway band was east Hudson institute senior fellow rob Spaulding says trump probably thought he needed to concede something so negotiations could resume I think the the president want to to give a present she a face saving gesture in order to restart talks and so now that seems to have worked and the two countries say they're ready to start talking again Jim zarroli NPR news this month in Altec considered how technology and tech companies can help slow climate change.
"eleven billion dollars" Discussed on WNYC 93.9 FM
"Media dot org from NPR news it's All Things Considered amber is always Kelly and I'm Audie Cornish stock prices soared to record highs today catapulted by president trump's announcement that the US is talking trade once again with China trump also said this weekend that he's easing trade restrictions on the Chinese telecom giant while away it's not clear whether the decision is a lifeline for while way or just a negotiating ploy and there is Jim zarroli reports trump has taken an especially hard line against while way calling it a very dangerous company and an extension of Chinese intelligence his decision to put the company on a commerce department blacklisting may would have forced US companies to obtain a license before selling to walk away but over the weekend trump softened his position he said US companies can now do business with while way as long as the transactions don't present a great national security problem we sell to while away a tremendous amount of your product that goes into the various things that they make and I said that that's okay that we will keep selling that product trump didn't specify what kinds of products are now permitted and there's been considerable speculation about just how much of a reversal this was far away last year bought eleven billion dollars in computer chips and other items from U. S. companies such as Intel and qual com White House official Larry Kudlow told fox news on Sunday that the commerce department would probably open the door to sales of some kinds of items such as computer chips that are widely available in other countries there is a lot of technology services telecom related services there really you can find on general markets and we don't think have any national security implications but Kudlow was quick to insist that this wasn't amnesty for awhile way and national security concerns would remain paramount trumps apparent shift underscores how delicate an issue while way remains for the administration China hawks in Congress and the White House one trump to take a harder line against the telecom giant that economists Patrick show Vanik of silver crest asset management says both countries are just anxious to get back to the table so they can address their trade differences open she I think both had an incentive to sort of call it time out because both economies are looking a little bit wobbly and China had threatened not to restart talks unless the hallway band was east Hudson institute senior fellow rob Spaulding says trump probably thought he needed to concede something so negotiations could resume I think the the president want to to give a president she a face saving gesture in order to restart talks and for now that seems to have worked and the two countries say they're ready to start talking again Jim zarroli NPR news this month in Altec considered how technology and tech companies can help slow climate change.
"eleven billion dollars" Discussed on News Radio 690 KTSM
"It's going to create over nine hundred new jobs last year for three hundred and sixty thousand electric plug in hybrids were sold in the US. That's only two percent of car purchases and tesla was half of it. But Ford says they're going to invest eleven billion dollars by twenty twenty two producing sixteen electric models. Twenty four hybrid models over the next couple of years. Do you really think tesla is going to maintain its dominance in the electric marketplace right now, they have it pretty much to themselves. But when everybody else gets in on the act, tesla may very well. Be that the Laurean of the twenty twenties. Meanwhile, Kroger in Houston, you can order online from the grocer and they will deliver to you via drone. They're working with the robotics company called neuro. They've completed thousands of driverless deliveries in Arizona already. These vehicles are half the width and shorter than ordinary cars. They charge us. Six bucks for the delivery. Toyota research institute says the big issue, they're dealing with is dementia. How can they use automotive technology to improve the quality of life for people as they age. This year will be more people over the age of sixty five than under the age of five for the first time in human history. More old people than young people by twenty sixty there won't be enough younger people to help care for the older people. So how do we solve the problem? Robots? And that's why the Toyota research institute is focusing on robot technology to help people. Who are aging China is the world's largest robot maker, they produced almost one hundred fifty thousand robots last year that number is increasing all along the way, but to other final points about robotic technology and self driving vehicles. This is this just kind of blows me away in nineteen thirty cars introduced the very first feature..
"eleven billion dollars" Discussed on News-Talk 1400 The Patriot
"For construction traffic is slowing from lone pine and telegraph southbound between square lake road and long lake road. Two lanes closed for construction and traffic is slow from. Fairfax your weather forecast this afternoon sunny with a high near sixty three tonight, mostly cloudy, low forty four Thursday, partly sunny. A high near sixty seven Thursday night. A chance of rain mostly cloudy, low forty eight right now fifty nine degrees from the townhall dot com newsroom. Ford Motor Company will invest five hundred million dollars in Plymouth based started company Riviera with this investment. Ford will partner with Riviera and developing a new vehicle using ravines flexible skateboard platform, this vision to Ford's existing plans to develop a portfolio of battery electric vehicles. As part of its previously announced eleven billion dollars investment for already has confirmed to key fully electric vehicles. A Mustang inspired crossover coming in twenty twenty and zero emissions version of the f one fifty pickup. The federal government is expanding their investigation into the auto industry and the United Auto Workers union that Detroit News reports the latest extension of the probe is looking into the possibility that union leaders received kickbacks from companies that produced UAW branded items the union has spent more than twenty nine million dollars in the past five years on promotion, I'm Kevin Sanderson on the patriot FM one zero one point five and AM. Fourteen hundred. I'm Lou Dobbs. There's a bidding war over Anadarko petroleum stuff and shop supermarket strike costing one hundred million dollars and more quarterly reports today those stories next pillow exander green chief investment strategist at the auction club. But we're one of the oldest financial clubs in the nation with more than one hundred and forty thousand members and are audited track record shows. We're one of the few groups who's recommendations have outperformed the market for the last twenty years. The reason our approach is unique we've nor the mainstream financial media. We don't listen to politicians and ruined don't care about analyst rating. Those things are a waste of time. There's only one thing and he did not do very well on the stock market. And that is fine. Great stocks with breakthrough products record revenue and very happy shareholders with that in mind. I've just uncovered my highest rated stock of the year. It's a.
"eleven billion dollars" Discussed on V103
"Official. Call me Pete. I'm a proud son of south bend, Indiana. And I am running for president of the United and thirty seven year old announces platform of freedom security and democracy, by the way, elected Buddha. Judge would be the youngest and I open league gay presidential president of the United States, by the way, yet this Republican lawmaker in Illinois wants to see the city Chicago's separated from the rest of the state as its own state, a CD Davis Mars that he wants to make the third largest city in Illinois separate state because of the huge influence. He says shutdown has in state politics days. Meyer says he's a frustrated with what he sees as city focused policies that can steer economic opportunity away from rural areas nevertheless measures seen as having absolutely no chance of passage in the democratic control legislative. Okay. Today's tax day in case, you feeling the pinch either because of the tax money you've had to send to Sam or because of the money you're used to getting back that you're not getting back this year thing about this. According to Yahoo looks like the new Republican back the tax structure, very very kind. Big business. Imposing the lowest corporate tax rates since nineteen forty seven. For instance, they say Amazon which made an estimated eleven billion dollars with a B last year pay zero in taxes, and that things have basically the same for other huge corporations like Delta Airlines, Chevron and Netflix in General Motors. Aren't you happy? Anyway, researches say that smiling a lot could be bad for your health. Here's why research is Penn State's say after studying drinking habits of people who work with the public a lot and find those irregular expected to fake or amplify their positive emotions. In other words, laugh and smile. Lot engaged. Heavy drinking after work than people who didn't have to provide socal service with a smile. Oh, well Tiger Woods smiling. He won his fifth masters golf turn over the weekend. Holding off the rest of the best. Golfers in the world to make a one shot win. It's fifteenth tournament win overall at Mark's real comeback woods from career-threatening back problems. He said, he just couldn't even move. It was so bad for him at one point and finally tops the box office for the second week in a row shows AOL named powers..
"eleven billion dollars" Discussed on KQED Radio
"Is Monday today, the first of April good as always to have long everybody. Let us begin today with a story that is both straight ahead business and economics, and at the same time Oso, very geopolitical, we learned this morning, exactly. How profitable the most profitable company on earth really is. And if you're thinking, wait guy, we already know how profitable apple or Google or maybe Exxon Mobil is well think again, we speak here of the national oil company of Saudi Arabia Saudi Aramco by another name, the company opened its books today at least partway for the first time since it was nationalized back in the nineteen eighties. Wall Street was pretty impressed which for Saudi Aramco seems to have been the point from Washington. Marketplace's Scott Tong. It's going the money printing machine known as Saudi Aramco made one hundred and eleven billion dollars in profits last year. That's almost twice what apple made. Nearly four times Google's prophets and five times. Exxonmobil's? This is really the most information we've ever gotten Ellen wall. Transversal consulting is the author of Saudi Inc. Everyone's kind of been wondering what is this big horrible secret that they're hiding the answer is that there isn't a big horrible secret. One big reveal Saudi Aramco pays a mere three bucks to produce a barrel of oil that's crazy cheap as they can sell it for sixty nine and Wall Street to bond rating, firms gave the company high grades though, not the best Michael Goldstein teaches finance at Babson college. This is like instead of their credit score being eight fifty and they're getting a perfect lowest possible mortgage on their house. They're still gonna get whatever size house they want. It. Just they're going to have to pay a little bit more than the absolute perfect credit score. Saudi Aramco does wanna borrow tens of billions from the market to buy another company and spend the prophets and diversifying the Saudi economy right now. Gyrates wildly up and down. With oil. Prices says economist Paul Sullivan at the National Defense University. They want to move from the roller coaster and gripe tour diversification, and they need this money to accomplish that the Saudis want a more balanced economy by twenty thirty right now seventy percent of the nation's revenues come from oil. I'm Scott Tong for marketplace. This item from the immigration filed today. President Trump says he is going to cut direct financial aid to El Salvador, Guatemala and Honduras in service, the White House says of slowing the flow of Central American migrants into the United States. The money is used to fight drug trafficking and gang violence, also promoting economic growth down there from K UT in Austin, Texas. Marketplace's into Euler reports now on what cutting that would mean for people south of the border, and whether you would in fact slowdown migration after a surge of central Americans arrived at the Texas border in two thousand fourteen similar to what we're seeing. Now, the Obama administration ramped up aid. Guatemala, Honduras, El Salvador, money goes to to prevent young people from joining gangs. One dollars helped oversee the program in the Obama administration US assistance to the region has never been about giving them something. In fact, the argument was that we made was that. We were gonna have very strict conditions to the provision of that assistance. But the Trump administration doesn't think those conditions are being met, and it's demanding that what Amal Honduras, and El Salvador stopped their citizens from leaving White House chief of staff, Mick Mulvaney, explained the approach yesterday on CNN, we could prevent a lot of what's happening on the southern border by preventing people from moving into Mexico in the first place, so cutting aid going to stop the outflow of refugees. No, it's actually going to accelerate. That's Kyle Longleat Arizona State University. This is a knee-jerk reaction to try to force the governments of those countries to making people stay home Longley says simply put less aid is going to lead to more, poverty and violence in those countries and more people are going to want to leave. But there are. Problems with the aid program to Central America says Kristen Martinez girly at the university of Pittsburgh. It might not be being allocated be exactly perfect way. Maybe that's why we haven't seen all the time. Change the expected from it. She says more money should be directed to criminal Justice reform. These countries to make them safer and less corrupt for residents who want to stay there. I mean dealer for marketplace. Wall Street on this April Fool's day. No joke. We'll have the details. When we do the numbers. Facebook CEO, Mark Zuckerberg.
"eleven billion dollars" Discussed on Biz Talk Radio
"Would you buy Toyota Corolla for quarter million bucks answer is why there's a value to the Toyota Corolla evaluation to it a market cap to it. Now, the differences in the stock market. They were many points in time. Where valuations are just out of whack. Out of whack does. That mean, they don't go higher. No. They can continue to go higher. You remember ninety-nine how valuations were so out of whack and things will up fivefold. Before going down one hundred percent. I'm just bringing this up because there is not a day that goes by with somebody. Five to ten people Email me, what do you think of Cronos scary? What do you think of Aurora cannabis Gary? What do you think of till Ray, Gary? What do you think of? Michael Jordan, Gary, Michael, Jordan, symbols MJ is the simple for I guess, it's an ETF read. I get every week dozens of emails on them. And I answer all the same. They can go higher. Just don't be in when the music stops. That's all. Because cronos. Has eleven million in sales. Has never made any money. Has a three point eight billion dollar market cap. Let me repeat that has a three point eight billion dollar market capital Levin million in sales, and they lose money. That's all I'm saying. Canopy growth CG. Eleven billion dollar market cap. Now granted this one very strong revenue growth last quarter ninety seven million up from twenty one the year before so something's going on there. A lot of weed. I guess. But still. Trading. Zillion time sales. But we're open to any of this. We're just letting you know valuations are a joke. I think they look some of them look higher. I think some of them look higher. I'm just letting you know when the music stops if the music stops win curtains, come down and real value comes out. Sometimes the worst things for these companies to start making a little money because then you can really losses a losses. Anyway,.
"eleven billion dollars" Discussed on Capital Allocators
"I mean, he clearly fines more than enough to keep himself busy as he said in the US, he said this. So I just ate his own comments. He doesn't feel that he has as strong away of quickly assessing the caliber of the management in foreign markets as he does in the US where he knows if they were Notre Dame, you know, or if they graduated from Washington, George Washington there, Dr someplace else says something to him he he he sort of five questions, you can kind of figure out what what you need to know about someone in the US, and you just can't begin to get that from in the international markets. He doesn't feel so I have felt more comfortable, I think extremely highly of the Heineken family. I think what they stand for something is knowable its enduring an and so I'm more comfortable who have been since the start with the international exposure. I think we've added value by being willing to move there earlier on he he recognizes it when he describes his continued joy about the exposure, he gets through Coca Cola, for example, in in consumption growth worldwide, but but prefers not to own those companies internationally, and I I actually preferred on those. And so that's one big difference. He's had historically much more industrial orientation, certainly in those privately held companies the Marmon group companies, and and so many of the business that he's owned, and we have almost thirteen percent holding in Berkshire. And I love all those exposures, but their businesses that I probably won't find my way to directly all this at some point. We manage over eleven billion dollars, and I may have to. Start to migrate away. Look for some some fields to invest in that are are either akin to or possibly just sightly distant from where we spent most of our time, historically. I wanna to talk about a life case study of of a name N warn have owned in common, which is Wells Fargo. Yep. A year ago year and a half ago. We we probably would be sitting here and talk about how Wells Fargo in the brands just fit so perfectly into your model of this pristine, high integrity, trusted, bankers. That's obviously changed a lot in in. What's happened over the last year? And the notion of the brand is in jeopardy. You have stayed in the stock. Why don't you talk a little bit about what you were thinking in those days months when the news was coming out. And was that jeopardizing your core thesis? Yep. Well, I think the first thing I was thinking I think what the hell was the CEO in an Cherif thinking when they didn't respond more forcefully to something that could impact the economic goodwill. That was at the core of the franchise because what was at risk, really. Was was the sense of their fair play and their relationship with their customers as a place that can make their lives better. And that's really what is at play. And this this surfaces periodically across all companies. And you just have to be immensely fast reacting, and they weren't and so that was that was an interesting component to this. And the reason they weren't as no it's kind of standard loyally talk. You know, I think the first the first incident raise the question and probably the question was do we need to say anything about this and the loyally answers. No is not material. Why not because it's less than three percent of people that doesn't three percent of income is less than less than therefore the tests says, no the answer was yes, you have to admit, and then correct immediately rather than to allow the same thing to exist over the ensuing four years without an adequate response only to find yourself at that point then burdened by reacts that was much more fierce because of its untreated nature for. So long. So that was I thought was what the heck were you thinking about? But then for me, it was what is kind of the knowable level of damage because there's a lot of rhetoric swirling around and that number is really small. Really small. I mean, unlike the fifteen billion dollar judgments that J P Morgan and Bank of America had to pay where you're dealing with the hope the whole crisis of subprime mortgages, we're dealing here with with accounts that were opened up never activated..
"eleven billion dollars" Discussed on Bloomberg Radio New York
"Change from the Bloomberg newsroom in Washington. I'm Martin Di Carro former oil lobbyist is on track to be the next secretary of the interior. President Trump says he'll nominate David Bernhardt. The acting agency heads since Ryan Zinke was forced to step down interior has an eleven billion dollar budget overseeing drilling in grazing on public land. Senator Lindsey Graham is warning his fellow Republicans to back the president. If he declares an emergency to build a wall on the southern border. Trump is set to deliver his state of the union address tomorrow night. Coverage begins eight thirty Wall Street time on Bloomberg. Meantime, congressional negotiators trying to reach deal on border funding to avoid another government shutdown in eleven days. The jury's begun deliberations at the federal trial of the Mexican drug Lord known as El Chapo Joaquin Guzman. Global news twenty four hours a day on air and it tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Martin Takara now. Let's check the markets. Thank you Martin after the bell. We heard from Google parent alphabet, and it reported thinner profit margins as the internet giants spent heavily to expand its, cloud, and hardware. Businesses factory orders dwindled in the closing months of twenty eighteen and with more. Here's Bloomberg's Vinny Del Giudice, the Commerce Department is clearing. It's backlog of data following that government shutdown today reports factory orders posted the first back to back drop in two years. In October, November factories have been contending with tariffs and slower global growth more recent industry, data point to a possible far Bloomberg radio as for the economic landscape and the Federal Reserve Michelle Myers had of US economics at Merrill, Lynch data dependence, and if the data continued to show strong economy at tightening, Connie one where eventually some pressure start to build up on the Bryce friend. I think it's justified for them to get provided. Of course that risks mitigate financial conditions are comedy that Bill Gross who reigned for decades as the bond. King of pimco is retiring after more than four years after jumping to Janice Henderson group. He spoke about the decision with Bloomberg's Tom Keene. Well, no, I did it near laterally in combination with my family and my partner, Amy Schwarzer. I'm having so much fun with. You know, it's been almost a half a century watching screen style up in the middle of the night to check Asia and Europe. And then Tom Brady equivalent years. That's that's a long time. Also reporting earnings after the bell Gilead sciences, posted fourth quarter earnings that missed expectations as the biotechnology giant fends off threats to its best selling drugs and prepares for a new CEO to take the reins stocks higher. The Dow rallied one hundred and seventy five points up seven tenths of one percent s&p up eighteen up seven tenths NASDAQ up eighty three of one point two percent. I'm Charlie Pellett. That's a Bloomberg business flash. Bloomberg best with June Grasso. And at Baxter continues. Broadcasting live.
"eleven billion dollars" Discussed on 600 WREC
"Awesome. Sean Hannity today at two on six hundred and ninety two point one FM. Let me share with you some of the news headlines that we're out in recent days, predicting the jobs numbers today yesterday, the New York Times, January thirty first why this jobs report will be a mess. CNN January tenth how the January jobs report could be shaped by the shutdown. Fox News, January third partial government shutdown could hurt. January jobs numbers. Marketwatch, January thirty first how the government shutdown will impact the jobs report, and it was all negative news. New York Times January twenty eight the government shutdown will cost US economy. Eleven billion dollars. New York magazine, January twenty four Trump officials just don't get why shutdown hurts economy time magazine. January twenty third a government shutdown is going to hurt the wider economy. CBS news January twenty first shutdowns damage to economy could exceed five point seven billion dollar cost of Trump's border wall. Barons January sixteenth how the government shutdown will hurt the economy. Vanity fair. Well, known economics journal January sixteenth the White House. Just realized the shutdown is hurting the economy Washington Post, January fifteen to shutdown threatens the promise of government jobs and a way of life. PMS NBC January fifteenth White House now expects the shutdown to hurt the economy, even more fortune magazine. January eleventh long term shutdown will hurt the economy USA today. January second government shutdown. How it could hurt the economy? See virtually everywhere included at Fox News. The pessimism was out of control. It was running rampant. The government shutdown the government shutdown of eight wait a minute. Four hundred thousand three hundred eighty thousand furloughed workers did not get to paychecks. This was going to bring the US economy to a standstill. It was all over the place. The degree of ignorance on economics. The lack of understanding on the part of people who are supposed to know Morgan the rest of us. Striking..
"eleven billion dollars" Discussed on KOA 850 AM
"This isn't new and this isn't a unique some European countries and host of international treaties and agreements use the quote best interest of the child standard to make all kinds of decisions about children. Now, the US rarely uses their standard except during child custody proceedings where there are two legal parents who disagree about how the child should be raised and where the child should live in the United States. The defacto assumption is that absent evidence of abuse or neglect. Parents are responsible for determining the best interest of their own children. We gotta stop that crap. Stop. We can't have parents determining the best interests of their own children. We're going to have universal healthcare. If we're gonna have socialized medicine if we're gonna have free kindergarten free preschool for everybody, regardless of their ability to pay. Why we need government teachers getting their hooks into your little Rugrats sooner rather than later. Knowstone? Oh. I'm done with the story. You're right away. All day. Kindergarten is a nice step in that direction. Is this the proverbial foot in the door? The New York Times has reported that the government shutdown cost the US economy. Are you ready? Eleven billion dollars..