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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 to pay up to $10.9 billion to settle Roundup lawsuits
"When the maker of Bayer aspirin purchased the maker of roundup weed killer it inherited well over a hundred thousand lawsuits over batch roundup weed killer there now says it will pay as much as eleven billion dollars to settle a majority of those claims that around that caused cancer there are also plans to pay more than a billion dollars to settle claims related to PCB compact contamination and contamination from another
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
Task force cracking down on unemployment fraud in Michigan
"The state says it's investigating tens of thousands of reports of identity theft connected to unemployment benefits chickens unemployment insurance agency says it's received over fifty eight thousand reports of identity theft since mid March and it's believed to be part of an organized national criminal effort of using someone else's identity to get fraudulent benefits overall the agency says it's been working through over three hundred forty thousand flight claim since the pandemic began overall ninety three percent of claims have been paid that means two point one million Michiganders have received over eleven billion dollars in benefits over the past three
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
Federal gov’t to distribute $11 billion to boost state coronavirus testing
"President trump says the U. S. is earmarking billions of dollars for corona virus testing this is covert nineteen makes its presence known at the White House CBS Tuesday Brennan reports at a news conference president trump said masks are now required at the White House after the vice president's press secretary and one of the president's personal valets tested positive for covert nineteen last week just about everybody I've seen today has worn a mask the administration says it will distribute eleven billion dollars to states for testing the president saying anyone who wants a test can get one only to have that statement clarified by his own expert so everybody who needs a test can get a test we have plenty of tests
"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.
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
Markets down, Facebook cancels show: Virus hits businesses
"Com time now for our daily tech in business report with KCBS contributor and Bloomberg technology anchor and executive producer Emily Chang good afternoon Emily hi there well Facebook canceling as we mention its developers conference which had been set to start on may fifth in San Jose because of this of this virus what what's the company saying about this what are they going to do so this is interesting just because the conferences and until may and Facebook already looking ahead to that they've said instead perhaps they will give developers and investors opportunities to get information locally local hosted events at perhaps they will video stream or live stream content in order to give these folks information Facebook's F. eight conference is where they've announced new products like Facebook's dating service augmented reality glasses but it's just another conference that has been canceled as a result of fears around the escalating corona virus that mobile World Congress which is a big electronics conference in Barcelona was supposed to start this week and that was canceled as well well this virus also has some of the top tech companies warning investors about how it will affect them why don't we start with Microsoft absolutely Microsoft reduced its quarterly outlook today based on the impact the virus is having on their supply chain specifically the business unit that makes surface tablets their windows software so they said that their sales target will be wider than usual they're expecting tend to eleven billion dollars of sales for that particular division and they say that's a supply chain they expect to return to normal eventually but that add manufacturing is happening more slowly simply because of closures especially in China but this really is isn't it a perfect example of how reliant we are on other countries because because it's everybody is connected here so what do you think we're going to learn from from this or do you think it's too soon to even speculate totally apple has certainly has had the same problems they have cut their forecast for the current quarter apple extremely dependent on China we see reports that Microsoft and Google are looking at production alternatives in places like Vietnam and Thailand we are even talking about how companies potentially diversifying their production lines outside of China because of the US China trade tensions so we know that many companies were certainly looking towards that perhaps something like the corona virus could accelerate that but it is a stark reminder of the interconnected ness of the world and how much American companies really do depend on China do you think these companies have already written off the second and third quarter of this year and already looking ahead to to the fourth quarter next year right you know we don't know what they're giving us information quarter by quarter and and and certainly that it hit the information lands more softly that way I mean as we mentioned earlier the markets are really suffering right now I think it's going to be at at quarter by quarter thing if not a day by day thing I mean just look at what's happening in California right now we've gone from zero to more than eight thousand people being monitored new cases that we don't know the origin of it's it's incredibly scary and I don't expect this is the last of canceled conferences and reduced outlooks that we'll be
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
JPMorgan Employs Machine Learning For Expense Reports
"Banking industry invests heavily in technology and JP Morgan chase is among the biggest investors having spent eleven billion dollars so far much of that went to artificial intelligence a big chunk of that is going to figuring out ways to better use a I'd to improve similar processes and Bloomberg news finance reporter Michelle Davis says the big bank has started deploying a I JP Morgan has said that they're now using a I'd to automate some of the expense approval process that typically it was the responsibility of managers careful scrutiny of expense reports is especially important in the financial industry a lot of the expenses have to do with taking clients out it's not black and white JP Morgan chase next plans to use a I'd to detect credit card fraud CEO Jamie Dimon recently wrote in a letter to shareholders that the initiative could save the company as much as one hundred fifty million
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 CNBC's Fast Money
"Welcome back to pass money checkout cheers of facebook jumping in the after hours up as much as four percent at one point on now. It's up to percent beating on the top and the bottom lines of revenue rose twenty eight percent compared to last year these results come of course after the company struck a five billion dollar settlement with the F._T._C. which we make this pete well. I think when we look at every comes up five billion dollars number yes it's a record number all the rest of that but the reality is look at the cash flow of this company and a and look at the cash. They've got they've got forty six billion cash the cash flow somewhere around ten and a half eleven billion dollars so there's a lot of different reasons why yes this is a penalty on anybody yes. This is a penalty on facebook but they digested that Mel before we came into the earnings then when you look at these earnings numbers and you see they still are putting out growth. This is a company that everybody said we're all leaving. We WanNA leave this platform. I'm going to instagram well. FACEBOOK has don't instagram so I mean there's a lot of different things that are going out again. You Trust man something. You're laying the case for the government well if they choose to it. I'll tell you what that will make facebook even end up trying to put this thing out there to the public what's instagram worth now today as they're growing at the pace that they're growing could be the best thing they do for sharing the best thing in the World Outta the forty seven analysts that cover you have forty buys six holds and only one cell crowded position sounds like herd mentality but it is mentality but they didn't flip up till about one hundred ninety on the stock all the only the one forties and fifties where like you gotta stay away but when you look at the closure of this this doesn't I saw your interview today. It doesn't preclude any further action the antitrust ron but people are getting really numb to a lot of these headwinds. This is a shocker. It's up fifty six percents today well. This is shocker to most people but I think at this point you can't bet against them. Advertisers aren't going anywhere when it comes to the quarter though we all that matters that advertisers are sticking by facebook right at this point regardless of what the headlines Are you want to see the basics of the business. Keep going going so in this quarter. What did you like well? The the advertising revenue doesn't show any signs of weakening they touch one third of the world's population. This is trans-national company that that it's going to be very difficult for the world's governments to team up on this too so just to be clear. <hes> Steve Steve talked about the headwinds that people are becoming inured to. I think you still have to pay attention to the expenses. I think the downside for the stock is is is gross margin as well and I think you have to watch where they are because it's still a question of whether they can truly measure what at the expense loads going to be going forward. Meanwhile though the revenue side of the balance sheet right now is extraordinary guy..
"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 WCBS Newsradio 880
"Eleven billion dollars also paying no federal tax Chevron net flicks. And General Motors five eighteen the time time for traffic and weather together. Where we go every ten minutes on the eighth Sears Bill Buckner. We had an accident at the inbound George Washington Bridge approaching the upper level, it has been cleared. But the damage is done now. It could take you thirty minutes to get into town from the eighty ninety five express and local lanes about twenty to twenty five from four and forty six at the Lincoln. We're still dealing with a collision on eastbound for ninety five at pleasant avenue in we Hawkin that's causing a thirty minute delay getting into town at the Lincoln outbound. It's ten to fifteen at the Holland. It's twenty five coming by way. The Polaski skyway fifteen coming into town, by way, the turnpike approach outbound. It's ten to fifteen minutes, the L I E in Nassau County. Westbound is stop and go now from lakeville road into the cross island Parkway in queens. We have a report of a collision on the ramp to the northbound cross island Parkway Connecticut turnpike, northbound some stop and go between exits five and eight in the Stamford area. We had a crash up around exit eight that's been cleared and southbound is easing out quite a bit on the Connecticut turnpike, and the Merritt Parkway southbound is looking a lot better in Fairfield county than it did. Earlier this afternoon. Still have a crash being cleared on the major Deegan. Southbound up around van Cortlandt park. Another traffic update in less than ten minutes WCBS. And now the forecast from our meteorologist Frank straight. Taft to partly sunny skies at high of seventy six midtown near the water mostly sixties for Long Island. Nice this evening. Turn cloudy tonight. Low fifty five Embiid, tone, forties, chillier suburbs. Then tomorrow look for me degree skies in a couple of.
"eleven billion dollars" Discussed on Bloomberg Radio New York
"Radio And good daddy. Warren Buffett's Berkshire Hathaway said. This cash pile has now, swelled to an ipod one hundred eleven billion dollars so the question arises piggy what do you do? With all that to tell us what you might do with all that. Money we have Catherine to Glen ski Bloomberg news reporter in New York. Cat what could buffet possibly do one hundred and. Eleven billion, dollars in cash I think that's, the biggest question on his mind I mean we've heard over the past year. He's really lamented that like. His idea of buying up companies, hasn't worked recently prices are just. Too high he can't really find. Good attractive large acquisitions at a, reasonable price and so it's kind of interesting he. Actually just a month ago the berkshires board move to cap on stock buybacks so it gives them a little more leeway. To possibly pursue that as some way to chip away at the cash. Pile so, it'll be interesting to see is, that sort, of a path takes he's actually Resisted this whole. Idea of buyback for years even at the annual meetings that you and I both covered he's been asked the question year after. Year after year why now does he seem to be breaking on that issue, I think this is the. Most interesting point right he, doesn't like capital return to shareholders because he argues that he can invest that money better by buying? Different businesses by putting those money and stocks but he's actually he's done. Share buybacks before he did a kind of a small one in two. Thousand twelve and he's always had it open as. A potential, option but the board had it, as they couldn't pay more than a twenty percent premium over book value so. There was sort of a. Little hesitancy on how much they, were willing to actually pay for. Stock buybacks but now they removed. That completely and I think it, sort of is interesting because yeah he historically has. Not really light share buybacks as an option just because he thinks he can do it better but by removing the cabinet. Sort of implies that they might be willing to kind of swoop in. The market And snap up some other stock step back just a bit but with buybacks yeah you know maybe. Shareholders like it but it's also kind of an admission by a company in a way an implicit admission that We didn't know what. To do with it we're not going to invest, in our own company and whatever so might. As well, give it back to the. Shareholders and it's to me it sounds like an admission, of defeat for buffet I think it's it's an interesting admission because he he normally, loves to to, invest, that money, I mean he loves, to buy companies he loves to buy stock and he's as Warren Buffett, run out of ideas That might be Legitimate question now because he at least, big ideas ideas and I think that's partially the problem to right Berkshire has. Grown so, huge I, mean his, companies his railroad, his energy, businesses his insurers they're all throwing off so much. Cash so quickly and I, think it's it's. It's been, rising I mean he reached last year the over the one hundred, billion dollar Mark and I think I think it's hard to figure out how can you do enough deals and enough stock purchases in order to sort of actually chip away at any. Of that cash maybe maybe we should set him up with the Elon Musk The two later in their different industries what what else came out of their second quarter earnings that that, was of interest to you what was really strong quarter, ensures were up a lot the railroad was up at the booming US economy. Really helped, that I, think his, insurers are really, interesting last, year was a pretty rough year for that hurricanes. Hurt those the auto insurance, have been facing. A lot, more risks in crashes because more people were out on the road. Driving Geico has been raising the rates and that helped a lot so they turned into underwriting profit after facing an underwriting lost the year before can we make the suction from all. This that he's not going to be buying anything anytime soon Not exactly I. Think buffet still loves to sit on the sidelines and I everything that comes by I mean we actually just had a couple months ago he he had looked at taking investing. In Uber I mean I think he's still you know he's out there fishing. For ideas it's just what comes along at what price how how much how has he looked internationally Not much so we know that he's like a German company a little. Bit ago and it's not to say that he wouldn't, look internationally but a lot of his company's, focus? Has been domestic for so long I think that sort of his idea of focus on what you know he's for a long time always emphasized that he doesn't wanna get into markets where he doesn't really understand exactly the risks. And the benefits in that. Area house, the Stockman, doing Berkshire stock has been doing quite well which is actually sort of the tension here right he reported such, strong second-quarter results that the stock? Price popped on Monday and it's hard? To tell is that too expensive for Buffett. And Munger they didn't really hint at what price they'd, be, willing to. Repurchase their own shares so we'll have to see I mean you know is Berkshire stock. Cheap enough, for them when you repurchase shares what you. Normally happens to Asaf brace is there is there. A predictability, to that does it, usually go, up or down it would normally. Go up a little bit so as he? Kind of cuts back on the shares outstanding And helps raise the prices a little bit which is also a tricky thing for them to write shareholders pointed out that it might be hard. For them to buy too. Much stock, without really, affecting the price and again making it too expensive to buy back more by back or not we'll see where, this goes thank you so much? Cat thanks guys that's catching linski lured? News reporter in New York and just ahead. On Bloomberg.
"eleven billion dollars" Discussed on The Herd with Colin Cowherd
"A little too too much for me finally david tepper is worth eleven billion dollars informs is named him the richest man in new jersey thanks founding aac global hedge funds he is the new owner of the panthers and he's made his fair share of good businesses but it is panthers industry press conference he offered his take on the nfl ratings and gambling tv's been fracture has been fractional is when speak so there's a lot of different media so you talk about tv ratings but when you add up all the different you know social media apple amazon that i don't think football is being affected any more or less than anything else i also think this thing that we talked about a little bit before called gambling gonna make ratings go down i just have a feeling about that okay you may know more about that than me but that's my feeling i disagree with that take that i mean that's listen i don't even know where to go with it like have you met a sports fan before gambling's a pretty big part of sports i know the nfl is traditionally like pretended that doesn't exist we don't know that there's gambling around sports noone gambles on our game but it's it's legalized now obviously and it's not going to change anything because people were gambling before when it wasn't gambling is it's an emotional connection to sports we all watch great games but we often turn out bad games if you have money on a bad game you watch for another twenty minutes in the ratings go up ratings are basically deduced from two ways cume total audience and time spent viewing the longer you watch the more the ratings go up gambling fantasy 'member the year fantasy got huge about three years ago ratings popped k why because it keeps fans emotionally engaged due to money for another twenty minutes watching a crappy game because we all watched good games but we tune out of bad games gambling keeps you watching a bad game yes you tune into the bags because you have money on it just like people have always done now that it's legal it's not going to make it any different whatsoever but the ratings this year there are a lot of factors everyone always wants to put their two cents on affected the ratings this year which obviously we're we're not going to get into you know there was a slow a little election thing and core by the way going men most of my guy friends care about two things sports and politics a little bit of a political talk going on you know by the way meet the press is ratings through the roof cbs through the roof all the political shows on sundays ratings have doubled from five years ago three years ago two years ago sunday's football sundays the political show on yeah what do we know joy taylor the news well that's the news and thanks for stopping by heard thirty minutes from now my latest nfl division prediction we put them on tape now my friend chris broussard are nba voice of reason my argumentative cousin we go at it tototo so i started the show saying today somebody came up to me yesterday and said man your into this lebron thing and i said i was really into six months ago i'm going to be really be into it in october it'll be the first time in my life in october i won't lead every single show with the nfl lebron's verse two weeks when the lakers are going to be the lead story on every network that does sports in america and i do think will came here got a title kareem here title shatt came here title stars moved to la chris and they generally flat guerrero kirk gibson david beckham wayne gretzky it works they win titles they changed the sport i i think lebron the latest i absolutely convinced they won't win it next year the following three they'll be the favorite or avery or cofavourite because i think the golden state thing is got klay issue has got a k d shoe has got a steph injury issue but i think i get lebron is gonna work can we agree on that yeah look i'm loving it more and more each day i got admit i think this was a great move by him obviously basketball wise he's gonna put in all the work now we'll see what happens we go state if they stay together then they'll remain.
"eleven billion dollars" Discussed on The Herd with Colin Cowherd
"A little too too much for me finally david tepper is worth eleven billion dollars informs is named him the richest man in new jersey thanks founding aac global hedge funds he is the new owner of the panthers and he's made his fair share of good businesses but it is panthers industry press conference he offered his take on the nfl ratings and gambling tv's been fracture has been fractional is when speak so there's a lot of different media so you talk about tv ratings but when you add up all the different you know social media apple amazon that i don't think football is being affected any more or less than anything else i also think this thing that we talked about a little bit before called gambling gonna make ratings go down i just have a feeling about that okay you may know more about that than me but that's my feeling i disagree with that take that i mean that's listen i don't even know where to go with it like have you met a sports fan before gambling's a pretty big part of sports i know the nfl is traditionally like pretended that doesn't exist we don't know that there's gambling around sports noone gambles on our game but it's it's legalized now obviously and it's not going to change anything because people were gambling before when it wasn't gambling is it's an emotional connection to sports we all watch great games but we often turn out bad games if you have money on a bad game you watch for another twenty minutes in the ratings go up ratings are basically deduced from two ways cume total audience and time spent viewing the longer you watch the more the ratings go up gambling fantasy 'member the year fantasy got huge about three years ago ratings popped k why because it keeps fans emotionally engaged due to money for another twenty minutes watching a crappy game because we all watched good games but we tune out of bad games gambling keeps you watching a bad game yes you tune into the bags because you have money on it just like people have always done now that it's legal it's not going to make it any different whatsoever but the ratings this year there are a lot of factors everyone always wants to put their two cents on affected the ratings this year which obviously we're we're not going to get into you know there was a slow a little election thing and core by the way going men most of my guy friends care about two things sports and politics a little bit of a political talk going on you know by the way meet the press is ratings through the roof cbs through the roof all the political shows on sundays ratings have doubled from five years ago three years ago two years ago sunday's football sundays the political show on yeah what do we know joy taylor the news well that's the news and thanks for stopping by heard thirty minutes from now my latest nfl division prediction we put them on tape now my friend chris broussard are nba voice of reason my argumentative cousin we go at it tototo so i started the show saying today somebody came up to me yesterday and said man your into this lebron thing and i said i was really into six months ago i'm going to be really be into it in october it'll be the first time in my life in october i won't lead every single show with the nfl lebron's verse two weeks when the lakers are going to be the lead story on every network that does sports in america.
"eleven billion dollars" Discussed on Knowledge@Wharton
"That there's really no way to change it she was a cancer survivor and she was thinking gotta be something we can do but instead of just making that kind of appeal to the heart she knew she could only make it happen if she could build a good business case for it so she asked herself a really unusual question and oftentimes the best ideas come from just the best questions and her question was me make more money by not selling tobacco kind of counter intuitive idea but when she asked that question whole bunch of rather obvious information that was being buried within the company came forth and yeah actually through brand value increase through partnerships that you could make under the new forcible care act there were actually a lot of business opportunities that were being missed that no one was seeing because no one wanted to question the conventional wisdom of company right to make a long story short she built a team she convinced her bosses to try and just before she got she got approval they made her head of retail so now she was gonna take two billion dollars off of her own pnl and that was really the test you know would be willing to take that that big step backwards and we talk about the hill climbing heuristic this is step up the hill this is a big step back will she did it and they actually signed eleven billion dollars in new business to make up for that billion dollars loss within the first year and you know there's nothing brilliant or amazing about the idea she had it was really that ability to break that spell of conventional thinking within the company and asked me questions that you know huge things for cvs and for the communities they serve right and and when you get into a pattern of doing business and it is a pattern that obviously profits the bottom line it's hard for for a lot of companies for a lot of executives to wanna make that drastic shift kind of like cvs has done although we see i guess in differing versions with other companies these days i would think like amazon and google are ones that are that are doing versions of this even as we speak yeah you know you look at companies like amazon and google and every time they rule out of product most to the to the outside consumer there is question why are they doing this what does this even mean what is this thing they're kind of out ahead of of even demand and that's because they're incubating many many products and really recognizing that there there is no standing still in business you just simply can't you compare that to you know a company like blockbuster for instance several years back now where they kept coming to the table and they weren't unaware that streaming video was going to eat their lunch every time they sat down they would find some incremental solution or some reason to say you know we've got a little longer we can ride this out for you know there's companies that just become blind to reality like nokia they i laughed at the flip phone and said nobody would ever wanna phone that you you know you need to hand for right and then then they laughed at the smartphone saying no one wants to keep a computer in their pocket you become so attached to your way of earning money that you literally can't see the world around you and it's the companies that are seeing change not as threat to be kinda parried but as an opportunity for growth that are actually driving now and we'll continue to thrive so yeah this is just a stark contrast i think and you can see companies are really interested in change which are sort of pretending that it doesn't exist and as individuals i think we can we can choose our mindset in the same way can i throw in blackberry there as well with the fact that they were so they're so hesitant to go away from their traditional style of phone although a lot of people loved it you know they they've just been swallowed up in the smartphone industry yeah you know there's actually a bit of a traffic comes when you have something that a tribe of people love and don't want you to move away from that can be trapping in itself there was something about that blackberry keyboard that really people did want to keep an and really were tach to in the company it.
"eleven billion dollars" Discussed on Studio 1.0
"Lift is now valued at eleven billion dollars as we understand it you've raised more than four billion dollars you've surpassed five hundred million rides where are you in terms of growth yeah last year alone we did nearly four hundred million rides we grew two point three x we brought our market share over the last few years from low teens to now over a third of the market that lift has we have markets over fifty percent market share for the first time in history and so there is an incredible amount of momentum behind what we're doing it lift and at the same time i'd say we're just getting started lift and uber combined do just half a percent two miles traveled in the united states i believe over the next call it five to ten years that this point five percent is going to grow significantly to the point that eventually the majority of miles traveled united states will be on a network like lift and you'll be subscribing to lift transportation plan similar to how you have a music program maybe spotify or a minutes plan like you have on eighteen to your verizon last year especially has been very transformational for left and we've seen a shift in the balance of power between lift and uber i'm curious in two thousand sixteen when maybe it felt like uber would be the dominant ride hailing company forever what did that feel like and how does it feel today so i take about take about maybe three and a half years three four years now uber raises three billion dollars we have what i believed was a lot of money and is a lot of money one hundred million dollars in the bank so they had thirty times the amount of capitalism and they're trying to destroy our business using that money.
"eleven billion dollars" Discussed on WBT Charlotte News Talk
"Panthers having new owner it's official he is the owner name is david tepper reportedly worth eleven billion dollars moved from pittsburgh to new jersey when the taxes got high to new jersey moved his entire company down to tampa excuse me miami south florida and that upset the good lawmakers up there in new jersey ex reexamining their tax policies up there chances are he will be coming to the tax payers right here in north carolina at some point sooner or later so even if you don't care about football your tax money from some source might be on the rental car you buy when you your car goes down it might be on hotels or motels when mom comes to town some sources might be straight up taxes from the state might be tax abatements but expect it there are two questions that even people who have the remotest interest in this are concerned with question one among fans is this team going to move what guarantees can you give us that we will not be saint louis or san diego that our beloved nfl franchises guaranteed and one little remark about this in those playoff games.
"eleven billion dollars" Discussed on WAAM Talk 1600
"The politicians nope sorry that didn't happen you grew government by close to eleven billion dollars yeah republicans you grew government oh well wait wait hang on a second okay okay well we decrease taxes we cut taxes no no you didn't you didn't cut taxes at all as a matter of fact you raise taxes up the yin yang i know that's a pretty i deep in the weeds political terminology there but you get the point no you raised taxes we we we really strengthen your second amendment and we strengthen your ability to defend yourself should bad guys come into your home and we know more often than not that's happening now in this this this horrible time we're in world war crime has just running rampant through the streets of america no you didn't know you had an opportunity to do that to get an opportunity to strengthen the castle doctrine liked it didn't florida you had an opportunity to get rid of gunfree zones which are murderers zones you didn't do that and i realized that one is something everybody in their brother is going to resonate with but if you make the case they will so in essence the republican party didn't do anything anything to move the conservative needle to the we the thinking logic driven side did they they didn't know they didn't and the list goes on and on now they'll say right to work and you'll say yeah that's great but with ali's company for for example out of the firearms manufacturing companies that are going to other states why they doing that why don't they come here it's right door whether it's because of all the issues i just mentioned the the other issues before that look and then the democrats gonna get up he's gonna go elect us because the republicans poisoned the children of flint yeah right the people are gonna scream that all the people but enough do you get the point you get the fricken point of what's going on here and the republicans have completely squandered it on the national level as well and they continue to do so have we got rid of obamacare no almost two years have we gotten rid of obamacare no no no not even close i think in large part much of obamacare has expanded have have we gotten rid of anything to do with a common course less department of education overreach no.
"eleven billion dollars" Discussed on This Week in Tech
"Now apples apps store revenue eleven billion dollars in 2017 that's uh that's apples kutt that's apples kutt app the total revenues twenty six and a half billion the went to developers eleven billion to apple slaughtermen that just for the app store credible they also knew thanks the new tax bill uh they're thinking about repatriating their hunt they have more than two hundred billion overseas uh the new tax rate will get them back into the country for fifteen percent uh apples thinking about it which would give them a huge cash windfall has been lots of speculation about what they would do with that money i here's a little point of uh trivia about apple's cash hoard um people imagine that the cash is actually overseas but it isn't uh most of that cash is actually in the united states notes in the united states controlled by foreign companies oh interest owned by apple so the money itself is not over sees its the companies that control the money are legally overseas right is that funny and a caches an anywhere it's exactly exactly that's common some that a big stack that tim cooke goes bathes in every night baid well maybe maybe i don't i would totally do the scrooge mcduck let gold coins in the giant vault thing we looked diet swim around but it's a it's a it's a small point but it's something that everybody repeats that the money is overseas not no most of those actually in the united states controlled by overseas companies yes that that art themselves control by apple which the us company seller actually on boats inside of lake so that it's uh it's high seas law.
"eleven billion dollars" Discussed on Bloomberg Radio New York
"When fire googles chrome web browser became bitter rivals three years ago mozilla switch from google to yahoo as a default fire fox search provider in the us after yahoo agreed to pay more than three hundred million dollars a year over five years the left has its foot on the gas as it dries its global expansion north to canada this will be the first time lift operates outside the united states the right ailing company will start in toronto and expand into hamilton ontario next month lift has been gaining market share in the us pushing into territory long occupied by rival uber about fifty thousand toronto residents have downloaded the lift up this year even though the service isn't yet available joining us to discuss mayfield funds managing partner know veen shot chata mayfield invested in the series i around and lifts so you guys invested six million dollars in two thousand eleven it's now worth eleven billion dollars devaluation of the company's eleven balloon coups a lot from realistic uh what do you make of their expansion finally outside the united states which see lake lift is a great example of a company which is on to its mission of solving people creating communities through transportation our aim is to build one of the biggest companies in the information technology industry when we looked at toronto lebron leave it's the fourth largest city in north america culturally the aligned with the people there we did sylvia's people really wanted a choice over the incumbent they're they're looking for inclusivity looking for diversity and above all they want people to treat them but that is the drivers of the consumers and based on market research we failed you know what the time is right for us to expand outside the us into the first country which is nearby in north america because there is a law of demand for what they do look over expanding globally much more quickly not always working out obviously they've and china in russia for example but they do have the lead when it comes to international expansion was it the right call for a lift to wait absolutely right like i have a belief having been in a seater limousine and having seen mayfield over forty eight tears building a business is like a marathon so our strong belief is unique to crawl you need to walk and you need to groton supposed to me to become.
"eleven billion dollars" Discussed on 550 KFYI
"Mortgage yeah and it's broken let's fix that i'll actually we decided that health insurance really expensive we're going to cut eleven billion dollars from winners on his could actually find explained to me how more people end up with coverage and prices go down when you're cutting eleven billion dollars from it where's the offset on that i don't i'm sorry i'm not seeing it this doesn't satiate the three criteria that i say the republicans need to aim for lower cost equal or better coverage and simplify for the user that's it seven years they added contemplate that in every county in a couple of counties your pain double and then with the copays and deductibles that are so high it's as if you don't even have insurance here's the thing that that strikes me he's right is that i think about the objective of obama care it was to provide as much healthcare to everybody as you could when i hear about the art in his overtaking obamacare away often their ideological arguments about the role of government so the goal is over an ideology ideological difference not getting healthcare to the most people can't i i think that's the goal see i hate this as a sympathetic audience our distress notes have a conversation without cheering certainly that all the we all have republicans and democrats their eye on we all have the goal some of us want to actually achieve some of us just say we have it i mean everybody wants out yeah so we'll jeff flake promise it you'll find out every sugar calf way i download our joe johns you hear about this facebook is going to turn over russian adds to investigators congress yeah i'm not sure i feel about yeah i was gonna get your opinion on that yeah because i figured you we'd have a pretty strong my well i guess uh here's my question is is it is it in the in the ad by in the contract that your information is public and if not then look i want i want for miller to have all the information about russia and what they tried to do in the election is possible okay that said i don't think that we should just be handing we should the president trump keeps calling witchhunt i don't think it's a witchhunt because a witchhunt would imply that they're there trying to force somebody to to uh.
"eleven billion dollars" Discussed on KBNP AM 1410
"Development spend exponentially in recent years he's double to about eleven billion dollars dollars over the past five years that clearly means they go to think quickly how are we going to get his talent on board and robin trying to relocate thousands of people to keep it sinoe parts you go to them you go to them and say wait here we're ready come what frost will give you stock options will give you a good salary and they got plenty of money offshore to do that and so it becomes very foldable option i think it's it's also the sort of just going all gung ho recognize than some of the siegel something's who will certainly are working with alcohol on the other side another company have those relationships maybe their job will become useless if apple breaks that relationship so those people would be out in the wind in some way this is an irony bags that seems very much like the some some tactic had some zone had been a key supply apple in the early iphone and then a couple of years later we see some some with competing products which are very similar to the iphone so tops that in some ways you could suggest taking a leaf out of the samson playbook yes it's kinda fascinating so i guess we should just kind watch where apple sets up an are indeed lab correct although it's it's easier said than done know they don't tents but at a press release ripening are indeed arabic it'll be kind of seeps out through local media all in a watching linked ten hiring so you can see people moving to a company like goodness what are they doing in ghana on the edge of the french job so sometimes tricky to elicit well you say just last week apple posted a jobless team for a software engineer in denver specializing in mapping so yeah you're right it just had a kind of watts these kind of little reports that come out so kinda fascinating alex thank you so much thank resented best alex web tech reporter at bloomberg news at corey lick you in our bloomberg 960 stadia in san francisco a look me i'm great people you certainly great people corey john and alex web and bad although his career and it's could as they get it is he walks in it over the bowler and a monaco on a.
"eleven billion dollars" Discussed on WNYC 93.9 FM
"And include restrictions on energy projects among them the controversial nord stream two pipeline from russia germany significantly it also makes it difficult for president trump to unilaterally ease the sanctions president trump has again attacked his own attorney general in an early morning series of tweets he accused jeff sessions of adopting a very weak position on what he called the crimes of his presidency zhu rival hillary clinton police in vietnam arrested prominent dissident accusing him of attempting to overthrow the government laden luang had criticized the actions of a taiwaneseowned steel plant which leap chemicals along vietnam's coast last year causing a major environmental crisis this report from senior hutton mm mr lay is part of a group that refused to back down in its criticism of the formosa steel plant in central vietnam the eleven billion dollar operation is important to the government but formosa was caught leaking toxic chemicals along vietnam's coastline killing off vital fishing stocks and a way of life for more than two hundred and fifty thousand people who earn a living from the sea formosa paid five hundred million dollars in compensation but many ordinary people say that compensation money hasn't reached them the state has reacted by placing the most vocal formosa critics behind bars world news from the bbc this is wnyc in new york i'm richard hake new jersey will soon be the third state in the country to raise the legal age for smoking to 21 africa our foreign and hawaii but wnyc's fred mogul reports that governor christie's record on smoking is mixed in approving the new law christie recalled how smoking lit with own mothers premature death but critics thing new jersey has lagged behind in converting hundreds of millions of.
"eleven billion dollars" Discussed on Bloomberg Radio New York
"It would be the dow's ten if he wins and robert kusak and i'm susanna palmer from bloomberg world headquarters deal or no deal uk prime minister theresa may's office backtracked on a statement that a deal to govern was reached with northern ireland's democratic unionist party that adds to a sense of chaos around her government app after last week's disastrous election and eight days before brexit talks begin anew statement from may's office early today says details still need to be finalized investors in qatar stocks bonds and currency forwards were saddled with losses this week as cutter sparred with its neighbours the country's stock market shrank by about it eleven billion dollars in value on tuesday this after middle eastern countries including saudi arabia and the united arab emirates cut ties with the country's most liquid bonds tumbled during the weekend bets against its currency surged the russian foreign ministry said today russia and the us are ready to help resolve the diplomatic rift in the middle east over qatar's alleged support for militants and ties to iran investors are looking ahead to a federal reserve interest rate decision in the coming week bloomberg's karen moscow has more federal reserve policymakers up rejected a rage their benchmark interest rate a quarter of a percentage point following a two day meeting wednesaday it would be the indian crash this year necessary day we get a look at consumer prices and retail sales thursday the bank of england releases its interest rate decision and the bank of japan wraps up its twoday policymaking meeting friday karen moskow bloomberg radio.