35 Burst results for "Fourteen Billion Dollar"
Bloomberg Radio New York
"fourteen billion dollar" Discussed on Bloomberg Radio New York
"Currently in a range of $47 to $51 each Ed that them would see raise $4 .87 billion dollars even at the bottom end of that range if they price at $47 a share it would still make this the biggest IPO globally of the year surpassing Johnson & Johnson's consumer health spin -off of Kenview if you remember that came in raising $4 .37 billion dollars and that's Bloomberg's Ed Ludlow arm could raise more or less money depending upon on investor demand at its roadshow this week and we'll get you further details on this story in about ten minutes China is said to be looking to raise funds to bankroll investments in chip making and research the China integrated circuit industry investment fund is establishing its third and largest investment pool of about $41 billion dollars Reuters reported the process may take some and it's unclear who the potential investors are or when the fund might launch however the country's finance ministry may contribute about eight point two billion dollars to the fund now despite a lot of enthusiasm domestically it remains unclear how Chinese players can circumvent strict US curbs on technology shares in ship related firms were mostly down yesterday in the wake of weak economic data and some of those concerns about US controls pipeline operator and bridge has agreed to buy three natural gas utilities from dominion energy for nine point four billion dollars story from bloomberg's charlie largest natural gas utility platform and bridges proposed takeover of the east ohio gas company questar gas company and public service company of north carolina is the latest deal to arise from dominions corporate review the deal is valued at fourteen billion dollars including debt and it will double the size of and bridges gas utility business in new york charlie pellet bloomberg radio venezuela has spat some of its top officials to china to seek energy investments we get the story from bloomberg's bonnie ow we hear the delegation are discussing possible joint ventures between the two nations the venezuelan government is seeking to raise more money from his massive oil wealth this comes ahead of the current president's expected bid for a third presidential term next year the nation has the world's largest crude reserves and oil accounts for about ninety five percent of the country's overseas revenue however revenues have been hit in in recent years by mismanagement corruption and u .s sanctions in hong kong bloomberg all radio right about thirty one minutes past the hour one to mention softbank share price it's uh... down about seven tenths of percent this morning and we'll get more again on markets with it's time for global news the hong kong court ruling is being viewed as a major victory for the lgbtq community at baxter has global news in san francisco in the nine sixty newsroom ed all right thank you very much dot gov hong kong court ordered the government to establish laws recognizing same -sex partnerships representing one of the biggest directories yet for lgbtq activists judges wrote there's a need for same -sex couples to have eagle record uh... record recognition on their relationship in order to meet basic social requirements and them with a sense of legitimacy but at the same time the court dismissed part of an appeal to recognize same -sex marriages including overseas unions the u s says it is incredibly uh... concerned about the deepening relations between north korea and russian state department spokesman vina patel we have been incredibly clear about that potential consequences uh... of any country and and taking action the to support russia kim chong untravels to russia's early as next week to talk about the possibility of supplying weapons
Bloomberg Radio New York
"fourteen billion dollar" Discussed on Bloomberg Radio New York
"Operator is buying three natural gas utilities from Dominion Energy for fourteen billion dollars. Earnings after the bell the security software company Zscaler has forecast adjusted EPS for 2024 and that guidance did beat the average analyst estimate. After hours we're looking at shares of Zscaler up now by just about four and a half percent. Turned out to be a down day a down Tuesday for the Dow the S &P and Nasdaq S &P 500 index end of the lower day by 19 points down by about four tenths of one percent. The Dow dropped 195 points down six tenths of one percent. Nasdaq the composite index was down just about 11 points down one tenth of one percent but the Nasdaq 100 index full of big tech names did hold on to a gain of one tenth of one percent. Ten year yield four point two six percent the two year four point nine five percent spot gold down seventeen dollars the ounce to 1925 a drop there of one tenth of one percent and west texas intermediate crude up 1 .3 669 a barrel on WTI again repeating our top story right now Enbridge buying three Dominion utilities for fourteen billion dollars i'm charlie pallet that is a bloomberg business flash thank you charlie we appreciate it just mitten and stim temps ten of it here they'll take it yes I'll take it call worse okay tim not stem tim stenovick here at the bloomberg interactive broker studio tim and we all know how
Bloomberg Radio New York
"fourteen billion dollar" Discussed on Bloomberg Radio New York
"At PGIM income fixed the unemployment rate finally that stubbornly low unemployment rate finally ticking up i think is good news but you have to be careful right the labor market can be a real slippery slope once it starts deteriorating sometimes it deteriorates too fast so you have to watch what you wish for but we're definitely in that you know weakflation slower growth moderating inflation camp and that's that's good for risk assets hear more of that conversation on the Bloomberg surveillance podcast you can download it wherever you get your podcasts us us money market fund assets rose to a fresh high over the past week almost five point six trillion dollars more on that from bloomberg's vinnie del judice savers have been piling in a money market mutual funds ever since the federal reserve started raising interest rates last year they took in about fourteen billion dollars over the past week those that invest primarily in government securities like u s treasury bills led the way money market funds have been quicker than banks to pass along the benefits of higher rates thanks vinnie buy now pay later some businesses are up ending that model let's hear more from growing to shop how about paying upfront for something and then getting your item are taking your trip after you've paid for it and this so -called pay now by their businesses exploding according to accrue savings founder and ceo michael hirschfield accrue already has types of travel companies and also plans to partner with retailers for its pay now buy later app -based service and it has the financial backing of tiger global and others on the other hand the opposite the get now pay later businesses also growing max levkin ceo of consumer loan company affirm max levkin ceo of consumer loan company firm says there are enough new customers to go around as more shoppers shift away from credit cards thanks denise global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in over one hundred countries twenty i'm steve rapoport and this is bloomberg when news breaks across the globe radio is there from asia we are officially in deflation in china to europe uk economy grew more more strongly than expected in the second quarter anywhere in the world news happen slumberg samaray on the ground and in in this one yet bloomberg steven angle has the latest from hong kong joining us from bangkok bloomberg chief international correspondent aslinda almonds bloomberg's greg sullivan begins our global teen coverage from budapest bloomberg radio on the is ground this masters turns in business with berry reports on bloomberg radio i'm berry results you're listening to masters in business on bloomberg radio my extra special guest is jonathan miller co -founder and ceo of miller samuel miller creates housing reports
WTOP
"fourteen billion dollar" Discussed on WTOP
"% on Long Fence decks pavers and fences six months no payment no interest financing terms and conditions apply go to longfence .com money news at 10 and 40 past the hour here's Jeff Klaybaugh the electronics giant Toshiba will be for acquired fourteen billion dollars by a group of Japanese investors if shareholders approve Toshiba is approaching its 150th anniversary has been rocked by accounting scandals Warren Buffett's Berkshire Appleway was a big Apple winner last quarter with an unrealized gain of nearly twenty six billion dollars on its Apple stake Berkshire Hathaway's Apple stock holdings soared to 77 billion dollars on Apple's 18 percent second quarter rally a spaghetti sauce maker is among biggest stock gainers this morning so those brands is up 25 percent the company is the owner of the Rao's pasta sauce brand Campbell's soup is acquiring it it's the same sauce served at Rao's restaurant in New York City which opened in 1896 and is still in the original location the 325 Dow's up points that's one percent the S &P 500 is up 22 that's a half percent gain the Nasdaq is now down 10 Jeff Clabel WTO news money news sponsored by give me the Vin dot com if you want to sell your ride all you have to do is go to give me the bin dot com put in your license plate number put miles in the attach a couple of pictures and give me the Vin dot com or get it but give me the Vin dot com coming up on WTOP the new school year is just ahead of us so is respiratory virus season I'm Sandy cozell it is it is 11 12 Melwood is accepting unwanted vehicles in any condition donating your vehicle to Melwood is fast and easy and supports your local community we accept most vehicles in any condition even if it's old or doesn't run to donate call 1 -877
Bloomberg Radio New York
"fourteen billion dollar" Discussed on Bloomberg Radio New York
"Institutions academic and more so uh looking forward to our conversation she's here in our bluebird interactive is this essentially a lobbying group or what when i see non -profit together with private equity like alarm bells go off why why does private equity need a non -profit right love that question love it we are a very unique organization the the organization was founded as the emerging markets private equity association by the ifc of the world bank over over 20 years ago oh my god it was founded by the first lps in funds in emerging markets and grew to some prominence at the period of time that there was this idea that emerging markets was going to be an asset class in and of itself that was going to be faster demographic younger demographics faster growth that would be a rising tide that would lift all boats and grew to some significant size i joined in 2019 as ceo and really to reposition the organization for the future to reflect what's going on in the world today the terminology emerging markets is 40 years out of date um you know it's years 40 old it's just completely outdated china's the world's second largest economy so many of the opportunities and so much capital flows from these places in the world so we are now the global private capital association the regions that we cover are Asia, Latin America, Africa, Central and Eastern Europe and the Middle East but our board includes for example Bill Ford of General Atlantic, one of the world's largest private equity firms as you mentioned KKR others are members we have for example Tomasek the Singapore sovereign fund their chief investment officer so essentially it was the organization was started to kind of shepherd growth through private equity in these markets exactly and the reposition of nonprofit is that wrong we are so we are the same structure as national a venture capital association in the US or private equity council which indeed are lobby groups the beauty and this is we why use the word independent is that because we cover all of these markets we're not there to lobby on of behalf lower tax rates for or preferential regulatory treatment for our members who are really there to evangelize capital and educate on the opportunities across global markets and the last thing I'll say is we are not a US lobby group we are truly a global organization again our board includes the leading fund managers from India, Africa, Latin America, both global firms and local firms. So where does your funding come from? Membership dues so over 300 member firms pay dues to be members of the organization we have a very dynamic platform research I can throw some data off the top of my head in terms of fundraising and trends and things like private equity but I'm what getting is that the World Bank said we need to shepherd growth through this mechanism private equity and a good way to do that is put together an organization to support it. I guess so the IFC is the International Finance and Corporation they were limited partners in funds so they actually put money funds into and there's a whole universe of development finance institutions including the US DFC which is what the US uses to compete with China frankly around the world putting money into funds so it really it's more commercial than sort of what we're describing but we are a nonprofit organization. US DFC the development finance corporation. Okay so if you had to say your top priority in your organization number one just one what is it? Wow that's tough. There's kind of twins so may I cheat. Okay. One is to just re -educate the world on the opportunities and the realities and the risks of investing in these markets and the second would be to influence capital towards greater long -term inclusive growth and environmental. Private capital. Yes. capital. Private I am obsessed Matt we're both obsessed and I feel like I keep saying this last couple times I've been at Milken done we've broadcasts doesn't seem like anybody cares about the public markets it's all about the private markets private credit private equity. Well those people are you're hanging around the wrong people yes but there's also Pete right but So but I mean tell us about from your perspective because I think there's some nervousness in terms of the private capital world especially as we see rates going up that you know there doesn't there's feel like as much transparency and that that could be problematic. Interesting. Well okay great I mean absolutely the scale of capital is remarkable and is this sort of private capital private capital exactly for example last year alone 1 .3 trillion right you know it's .2 1 1 .3 but critically that's just what's raised by fund managers you've got to throw in there all the Canadian pension plans by the way CPB is also on our board of directors as is Future Fund from Australia it's trillions and trillions of dollars of liquidity it's just so that the scale of money that is available got you've all the Chinese billionaires you've got family offices you know there's so much everybody wants in right now because thing the is there's also more nervous so much talk of the opportunity right and private credit it's become kind of the darling of investors really from retail up now right well I was speaking across all private crap private capital strategies in private equity venture capital got infrastructure real assets so there's a lot in there what's really hot right now so the two well you're mentioning private credit which absolutely is a huge driver so if I had to say a strategy that's going really quickly I'd say private credit and there was fourteen billion dollars in private credit fundraising last year KKR Asia had private a big credit fund Apollo had a big private credit fund big manager in India is raising 1 .6 billion for their private credit fund just focused on India then the other I would highlight two other big drivers particularly in our markets climate and everything anything sustainability
Bloomberg Radio New York - Recording Feed
"fourteen billion dollar" Discussed on Bloomberg Radio New York - Recording Feed
"Before and after the pandemic it's driven by politics or by science then may be how we keep track of our lives from here on out. What do you think the political effects that impatience will be andrew at all. There's been bloomberg we begin on capitol hill the most accurate business world and healthcare news before and after the fundamentals do not justify this price action bloomberg radio the bloomberg business app and bloombergradio dot com bloomberg. The world is listening hours a day at bloomberg dot com the bloomberg business app and bloomberg dictate. This is bloomberg radio. This is bloomberg daybreak at our top stories. This morning a small win foot team transitory. Inflation data comes in cooler-than-expected after months of supercharge prices. But it doesn't settle the great inflation debate. China's economy weakened significantly in august fuelling concerns for the global recovery stringent virus controls curb consumer spending and travel during the peak summer holiday break macau casino stocks tumbled after officials revealed plans to tighten regulations in the world's biggest gambling hub. Fourteen billion dollars has been white and power is set to raise up to one point two billion dollars in what will be the biggest saudi. I've since around. We're going to have those details. Just adm across the dean of dubai and to invite along..
The Readout Loud
SEC Charges Medivation's Former Deal-Making Lead With Insider Trading
"The sec brought charges against a guy who used to work at the company. Meditation which people might recall in two thousand sixteen was acquired by pfizer for. I think something like fourteen billion dollars with the sec. Alleges is not that he insider traded shares of medication or of pfizer. But rather that as soon as he got word that pfizer was going to buy motivation and before that news was public he bought shares are rather he bought options. Whatever the point is he put money on the stock of insight which is another company still exists that was perceived as being a competitor motivation. They both were developing treatments for cancer. And what the sec. Alleges that he bet correctly allegedly that incites share. Price would go up once. The world heard that pfizer was buying motivation because they would perceive that you know the value of these biotech companies is high because a company like pfizer my by them and in fact inside shares did go up and he allegedly made something on the order of one hundred thousand dollars in what the sec describes as illicit profit. Can i ask a question. David because i don't fully understand why the share prices of an unrelated company would go up. You'd think that accompany acquiring a cancer company would mean that other cancer companies in the space no longer have it acquisition partner on the table. Why why did this work. I suppose is why i'm asking. Well you know. I was kind of curious as to whether these charges would stick in part because of that. Because yeah you know. What's alleges that he made this gamble which ended up being correct but one could imagine it going completely the other way. Because as you mentioned if i were a market participant looking at insight you could totally take the other side of that coin and say well now pfizer. Buying inside is completely off the table. So it's actually kind of a little a little bit of magical thinking to think that because visor about motivation the likes of insider more valuable but in this case that was the perception although according to documents inside stock price went up by eight percent. So it's not like he had like a rain. Making investment allegedly again. He has not been
MAD MONEY W/ JIM CRAMER
"fourteen billion dollar" Discussed on MAD MONEY W/ JIM CRAMER
"Half towards to close. I like to sit back and think about who truly had the best quarter versus expectations. So i'm not talking about ten to fifteen percent better that porcelain. I'm talking results. That were beyond what anyone considered possible and the winter this time. Well it's not even close. It's our age the high end home. I and chain forming frustration over three weeks ago posted. Seventy eight percent revenue growth when this is only looking for fifty six percent they had quote the strongest demand trends in our industry. No one touch him with core demand up one hundred and nine percent year because march suspended by five hundred and fifty basis points and adjusted operating margin. Jump from ten percent to twenty two point six percent there. There i did. That's the authentic wall street. Gibberish explanation for why you should buy the stock of our h year. Now i can come up with a gazillion projections. Demonstrate how this fourteen billion dollar company deserves a much larger market capitalization. I think you could do six billion dollars in sales and just a couple of years time making that market cap ridiculously small. Or i can tell you how are rh really. Did the quarter how they made the impossible possible. It simple the company made it happened. Because there's a merchant at the helm ceo. Gary friedman a real living merchant who bleeds rh. And once you do the same so one of the few wheel. Merchants left in this digitized country. That's why i think this could be one of the best stocks to buy for the second half let me agreements worse from the conference call because he makes the case better than i could i. He says the unmasking of the general public could be to a roaring twenties type of consumer exuberance fueled by the strong housing market record high stock prices and ultra-low instruments garib lease. It.
Armstrong & Getty On Demand
"fourteen billion dollar" Discussed on Armstrong & Getty On Demand
"The armstrong and getty show as one more example of is it inflation or just individual things going up for different reasons last year that says this texture throw away a fifteen foot above ground pool had a couple of holes in it. I went to replace it this year. Instead of the three hundred fifty dollars. I paid for that one. It was now listed for a thousand dollars. Wow so all kinds of things are going way up for different reasons and part of it and but if everything is then the reasons don't matter so much it's just inflates. scher right. So the story of biogen's new alzheimer's treatment. You know if you know. This is not a brag. It's just a statement of purpose. There's so many stories you hear on the news that they barely scratched the surface. The smiling twit a chipper chips him gives you the basic facts barely but leaves you know understand and often the story behind. The story is the cliche but i is really really interesting. And what we try to do is bring you that on this show. Here's a good example new alzheimer's treatment which is Named abdul helm has been reported as a breakthrough in fighting against alzheimer's terrifying disease. Around five hundred thousand. Americans diagnosed with alzheimer's each year and it does look pretty promising for dealing with people who have mild symptoms early in the disease. Because it it gets rid of some of the plaques that form on your brain that call 'cause alzheimer's disease but and i'm going to jump back and forth between some really good coverage and axios in the new york times the food and drug administration's decision on monday to approve new alzheimer's medication over the fierce objections of its scientific advisers set into motion one of the most controversial drug introductions in years. The problem with this drug is that they approved for all alzheimer's patients even though it has not been tested on anybody with advanced symptoms. It might not do them any good whatsoever. More than six million americans and half a million more. Every year have alzheimer's a million every year. And this thing which is a monthly intravenous infusion hoof costs fifty six thousand dollars per year per patient plus tens of thousands of dollars in additional costs for screening and monitoring patients that must just because my son doing his ivig for his thing about sixty grand a year so that just must be what it costs to do that sort of thing roughly. So yeah that will. That'd be really expensive for five hundred thousand people. Alzheimer's patients live on average an additional three to eleven years after their diagnosis. According to the mayo clinic so listen that this now. A half of the newly eligible americans in a year began treatment with agile home. The cost would be fourteen billion dollars. That's roughly equivalent to the medicare part b. spending on the next eight drugs combined in fact that fourteen to compare the fourteen billion on this new drug total part be spending in two thousand nine hundred thirty seven billion so this would raise it by a little less than half by forty percent in the blink of an eye. Selnow added gear up over years of did you mention i missed it or do we have a number on when winter. Most people diagnosed. I gotta believe that the age is pretty high like you're into your automatically getting government care territory. Yeah most of the time might as well be. Yeah indeed That let me skip down here. So there's arguments about the cost of it but this would drive medicare immediately into bankruptcy an increased that fast so the government would have to start negotiating the price of this drug and other drugs the way some people are talking about. And maybe they should but also the the problem is that this would cost skyrocketing costs in healthcare and insurance in general. And everybody would pay for it if you're a healthy forty year old and suddenly significant chunk of the population is getting this fifty six thousand dollars per year drug and the insurance companies are on the hook to pay for it. Well they're not gonna like sell their houses to pay for it. They're going to charge you more to pay for it. New york times says the drugs. All certain unleash a gusher of profits for biogen drugs expect to become the best selling products in the world within a few years but the drugs approval largely shouldered by medicare could drive up insurance premiums. According to healthcare policy experts could add new out of pocket costs for some families that are already facing years of staggering costs for carrying for loved ones with alzheimer's dr joseph ross pharmaceutical policy expert at yale sits on a committee that advises medicare on coverage. Decision says this is really what keeps me up at night. A therapy of this cost is going to have enormous implications for everyone and by everyone literally mean you to. There's going to be some sixty and seventy year olds on your plan. If they start getting this treatment you will see your premiums go up. Oh boy yeah and this would be an a conundrum if the drug was you know miraculous home run but it sounds like you might not do any good at all well in. Something's going on that. They approved it for all alzheimer's patients. There's no proof it would help would be a great way to force into socialized medicine. Prominent experts yeah. Yeah that absolutely could be. Prominent experts including the fda's independent advisory committee and a professional society representing geriatricians and other healthcare providers for older adults urge the agency not to approve the drug said. Dr peter bach drug pricing expert at memorial. Sloan kettering cancer center quote. It's completely unconvincing that we should be using it at all in reality. We shouldn't be paying anything. We should be continuing to research until we have drugs. That are shown to be effective. Meanwhile the company's shares soared thirty eight percent monday alone. you know. Obamacare brought us the explosion in In deductibles which just doesn't get talked about enough nope people don't get it. I guess because you know obamacare still polls pretty well everybody's deductible. The relationship with their deductible changed overnight my whole life a deductible was like not even worth paying attention to now. It's so high barely feel like i've got health coverage sure thousands of gotta go out of pocket before the insurance even kicks in diving on your plane. I don't know what ours now. i should look into it because my son's on quite a few drugs. Well you know your deductible you don't you don't get any coverage on those drugs until your deductible kicks in so every drug. I go and pay for early in the year is cash so i go and i expect the drugs going eight dollars or two dollars or free or whatever notes four hundred dollars it just keeps adding up until you hit the whatever whether your deductibles thirty five hundred dollars or sixty five hundred dollars or whatever it is. You barely feel like you have health insurance. If you're a relatively healthy family one. More number for the institute for clinical and economic review which evaluates the value of medicines and i. I'm not sure exactly what goes into estimates. It could be a little cold hearted but they say this part of their formula is how effective it is. Obviously they've estimated that this new drug would be cost effective only below eighty three hundred dollars a year. And it's fifty six thousand. Yeah yeah. I don't know that something stinks here..
The Economist: Editor's Picks
"fourteen billion dollar" Discussed on The Economist: Editor's Picks
"First up. Once a corporate heavyweight europe is now an also ran twenty years ago this week the sham price of a startup run by an obsessive call. Jeff bezos had slumped by seventy one percent over twelve months amazon's near death. Experience was part of the dot com crash that exposed silicon valley's hubris and along with the fourteen billion dollar fraud at enron shattered confidence in american business china meanwhile was struggling to privatize its creaking state-owned firms. And there was little sign that it could create a culture of entrepreneurship instead. The bright hope was in europe. Where a new single currency promised to catalyze a giant business friendly integrated market creative destruction often makes predictions look silly but even by the standards the post pandemic business world his dramatically different from what you might have expected to decades ago tech firms comprise a quarter of the global stock market and the geographic mix has become strikingly lopsided america and increasingly. China are ascendant accounting for seventy six of the world's one hundred most valuable firms. Europe's tally fallen from forty one in two thousand to fifteen today. This imbalance in large part reflects american and chinese skill and complacency in europe and elsewhere. It raises two giant questions. Why has it come about and can it lost in themselves. Big companies are no better than small ones japan. Inc's status soared in the nineteen eighty s. A need to collapse. Big firms can be a sign of success but also of sloss saudi aramco. The world's second most valuable firm is not so much in two trillion dollar symbol of vega as of a desert kingdoms dangerous dependency on fossil fuels. Even so the right sort of giant company is a sign of a healthy business ecology in which big efficient firms created and constantly swept away by competition. It's the secret to raising long run. Living standards on way of capturing the dominance of american china is to compare their share of world output with their share of business activity defined as the average of their share of global stock market capitalization public offering proceeds venture capital funding unicorns or larger private startups and the world's biggest one hundred firms by this yardstick america accounts for twenty four percent of global gdp but forty eight percent of business activity china accounts for eighteen percent of gdp and twenty percent of business. Other countries with seventy seven percent of the world's people punch well below their weight. Part of the explanation is europe. Squandered opportunity political meddling into the debt crisis in twenty ten to twelve have stores the continent's economic integration firms. They're largely fail to anticipate the shift towards the intangible economy europe has no startups to rival amazon or google but other countries have struggled to a decade ago brazil mexico and india were poised to create a large cohort of global firms. Few have emerged instead. Only america in china have been able to marshal the process of creative destruction. The nineteen funds created in the past twenty five years that are worth over one hundred billion dollars nine nor in america and eight. In china europe has numb even as mature tech giants like apple and alibaba tried to entrench dominance. A new set of tech firms including snap pay pal may thuan and pinned dwell dwell reaching critical mass. The pandemic has seen a burst of energy in america and china and a boom in fundraising firm from the two countries dominate. The frontier of new technologies such as fintech and electric cars. The magic formula has many ingredients of almost home market helps firms achieve scale quickly deep capital markets networks venture capitalists and top universities keep the startup pipeline full. There's a culture that exalts entrepreneurs china's tycoons boast of their nine nine six work ethic nine. Am to nine pm. Six days a week elon. Musk sleeps on tesla's factory floor. Above all politics supports creative destruction. America has long tolerated more disruption than cozy europe after two thousand china's rulers let entrepreneurs run riot and laid off eight million workers at state firms. The recent erosion of this political consensus in both countries is one reason. This dominance could prove unsustainable americans wide about national decline as well as low wages and monopolies. Roughly a quarter of the s. and five hundred. Index merits antitrust scrutiny. We estimated in two thousand eighteen. The economists supports the biden. Administration's aim to promote competition and expand the social safety net to protect workers hurt by disruption. But the danger is that america continues to drift towards protectionism industrial policy and on the left punitive taxes on capital that dampen its business vim in china. President xi jinping sees big private firms as a threat to the communist. Party's power and social stability. The cowing of tycoons began last year with jack. Ma the co founder of and has since spread to the bosses of three other big tech firms as party officials seek to guide incumbent private firms in order to achieve policy goals such as national self sufficiency in some technologies. They are also more likely to protect them. From freewheeling competitors the more america and china intervene the mall the rest of the world should worry about the lopsided geography of global business in theory the nationality of profit seeking firms doesn't matter as long as they sell competitive products and create jobs who case but if firms a swayed by governments at home the calculus changes as globalization on winds rouser already erupting over where multinational firms produce vaccines set digital rules and pay taxes. European hopes of being a regular regulatory superpower may become a fig-leaf for protectionism. All this with less clout may erect barriers to assert its sovereignty. India has banned chinese social media and hobbled american ecommerce firms that is the worst of both worlds depriving local consumers of global innovations and creating barriers. That make it even harder. For local firms to achieve scale it would be a tragedy if only two countries in the world proved capable of sustaining a process of creative destruction at scale but it would be even worse if they turned away from it and other places admitted defeat and put up barricades. The best gauge of success will be if in twenty years time. The list of the world's biggest companies looks absolutely nothing like today's.
Geek News Central
"fourteen billion dollar" Discussed on Geek News Central
"Apple amazon and facebook got into power. Personally my biggest issue is with really probably two companies facebook and google. Look what apple has done over the years. They've innovated they. Bill company the only issue with apple in my mind potentially is there Their app store policy amazon. You know we go back to the beginning of the show. They were selling books and then they moved into merchandise and they moved into amazon web services. And you know i. You know amazon. Themselves of largely built on their own now they. They've crushed small business in america. Let's not but is that small businesses fault. That amazon came in and figured out a better way. Now facebook on the other hand and google google controls. Almost every ad you see and wet. Google doesn't cover. Facebook has the other around so eighty eighty five percent of the ads that you see in might by advertising budget that i spend online to advertise to get new leads and get new customers. I spend one hundred percent on my ad budget with google and with facebook one hundred percent thousands of dollars my ed budget goes to both of those entities every month because there's no one else to advertise with. They can effectively meet anybody reach anybody. So what do you say to all this. Andrew in the chat says oh tie he thought it was just nineteen nineteen ninety blockhouse cool when it's twenty one twenty one twenty one. That's the cool one right andrew. It was He said apple shouldn't impose its morals users. I don't wanna get into that. I think he liked their products or not. But i don't pay attention too much to that. But i don't know maybe i'm wrong. What he. I say apple and amazon should they breed broke up to should their monopolies be broke up. Now listen to this point amazon. Prime now has two hundred million subscribers. Okay how many did they have the beginning of twenty twenty. They had one hundred and fifty million at the beginning of twenty twenty and here. It is april twenty twenty one and they have two hundred million two hundred million subscribers that pay ninety nine dollars a month. The net profit for amazon in two thousand twenty was twenty one point three billion dollars so their net profit was twenty one point. Three billion shilton. We'd take twenty one point. Three billion and multiply that by twenty eight percent. What does that leave them with. Fourteen billion dollars in six to seven billion dollars goes dunker sugar. The number gets real. That's a that's different number than one hundred sixty three million but that twenty one point. Three billion is worldwide and amazon works operates thirteen countries as far as warehousing and they have music business in in thirty countries so not all that prophet is in the united states so portion of it was and they can do whatever they can with the numbers to lower their tax input. Any no if your business owner. That's what you do right and do you blame them for that. No but again. They're cool raising taxes from twenty one to twenty eight percent for corporate. they did say are bazo. Did say we need to do better for people with a twenty one billion dollar profit. Yeah you should. But he doesn't answer the answer to this stockholders course. Basil's stepped down amazon. Ceo later this year though he remained in the executive chairman role the amazon board. These are big numbers amazon. One big last year because of the pandemic while hundreds and tens of thousands of small businesses shuttered. I'll just look at this. I if i drive literally three hundred feet from where this offices. There's only in the strip mall that's to the left of me. There's only one maybe five of there's a gander all the way at the end and a big lot on this end so they got a big lot which is kind of like I don't know how to describe it. They've got all kinds of stuff. Get furniture food. They've got knick-knacks. It's a kind of like a target slash k. mart type of thing but everything in between her just two or three shops and there's probably twenty five empty now. When i first moved into the studio in may two thousand nineteen there was at least records. Those businesses were folded in every week. I would come in during the pandemic. And i'd see a moving truck loading up whatever was left of someone's dream flush down the toilet because they were forced to shut down for months on end so this is just one little area. So how has it been across the entire united states course. They had a big year. 'cause we couldn't go anywhere else so i've talked about this a lot on the show already but You know pisses me off when someone say. The roofs raise the taxes seven percent and not only that on personal taxes to. I know that people in new york sorry. I heard what you guys got hit with this week. Wu lawmakers again are pushing to ban tiktok on federal devices. No tick tock. On government vices act was originally introduced in march twenty twenty so on thursday. The group led by senator josh hawley of missouri. Republican or serie republican introduced legislation called the no tiktok government device. My suspicion is it won't get any support. And i'm sure we'll get flushed down the drain you know when i worked for the federal government i did not have a phone provided to me. I never had one there was very. I don't know who be you know when i wasn't that many wasn't that many people that actually had government paid for phones. Sometimes we would get phones for like pay you know pay as you go phones it would they would use overseas but you know short lived in very small amount of money and it was do us nothing but to call home and say hey i got a problem so I don't know we'll see what happens. You're hey they control what's on our computer controlled. What was on our computers. So you know what's the difference. You have your phone. It's basically paid for by go sugar. They should be able to say what's on there and what's not. I'm sure a lot of places do that policy already. Ucla confirms okay. L. a. confirms at t. Mobile fastest carrier for five g. with the best coverage. Now who are they. Will they do. speed test. Team always the greatest consistency score of eighty four point eight percent of results showing at least five megs down t mobile five g number now covers two hundred and eighty seven million people on.
NPR's Business Story of the Day
COVID-19 Relief Package Includes Billions For Transportation Sector
"All right how often did you fly. Or maybe the trainer buster in the pandemic. Yeah the transportation sector has been hit hard but anyone who rides in trains planes or automobile should benefit from the one point nine trillion dollar cove relief package. Npr's david schaper reports. It was a year ago this week. The us what unlocked down highways and airports were suddenly almost deserted. People travelling overseas scrambled to get flights home at mass transit. Trains ran nearly empty in the virginia. Suburbs of washington. Dc forty six year old. Sandra vigil had been driving buses packed. with sixty. to seventy people are more. We ended up taking towards the end of march. He was like one two people per ride. If you had any people at all last march twenty ninth vigil says she about ninety five percent of her loudon county. Transit co workers were furloughed. Her's lasted four and a half months and unemployment wasn't enough to make ends meet. A lot of fail behind are not rental car payments. Because he was either eating or paint a car or paying the rent and thing they lakeville transit systems across the country so ridership plummet ninety percent or more in revenue fell with it yet. Mass transit is essential especially for many low wage workers. Again bus driver. Sandra vigil in order to keep the buses running and to keep us working. We needed this money. The relief bill includes thirty billion dollars for transit. It also includes one point seven billion dollars for amtrak enough to bring twelve hundred furloughed employees back to work and restore daily service on long distance routes and there's funding to help states continue fixing crumbling roads and bridges offsetting. They're lost gas tax revenue as for airlines. I have fantastic news year. That's american airline ceo. Doug parker in a video message to employees about the plan which includes another fourteen billion dollars payroll support. That's good news for the thirteen thousand american employees who were facing furloughs april. First so if you have one of those worn out notices we sit out in february. Tear it up. There aren't going to be any furloughs at american airlines in april and with vaccinations on the rise. Hopefully never again. Ceo parker says the last three weeks have been the airlines best. Since the pandemic hit with bookings and passenger volumes up that's happening at other airlines too so much so that after months of hemorrhaging tens of millions of dollars a day the ceo's of delta and united now expect to reduce their daily cash. Burn two zero this month or next while southwest is on track to break even by june. Of course that's relatively easy to do. When tax payers are essentially covering much of your payroll airlines have now received more than fifty billion dollars in federal payroll grants since the start of the pandemic. This was hugely important. And as a pilot for american airlines at spokesman for the pilot's union. The last thing i wanted to be is on our heels when everybody was ready to get back. Flying tiger says if pilots had been furloughed. They need weeks. If not months of training before being able to fly passengers again. You do not want to be staring at the recovery and turning around and seeing the flight deck empty. Because you weren't able to train. The pilots quickly. Enough joe sweet. Herman transportation professor at chicago's depaul university. Says this government aid is crucial is pretty clear that the airlines were such a desire straight federal assistance and a big way we would have lost an airliner to sweden and says the federal aid helps airlines amtrak transit agencies and highway departments continue critical operations while adapting to a post covid world a world that will likely lead to more operational changes in the near.
Quick News Daily Podcast
Inside Biden’s $1.9 Trillion Stimulus Bill
"Start right there with a pass of that. Covid stimulus bill in the senate on saturday night. I do need to preface this by saying it does have to pass the house again because there were some changes made by the senate so it's not passed into law just yet but we'll go for what this bill will include when it goes through the house and i'm going to try my best to sound like i'm not rattling off just a bunch of dollar amounts but there's a danger. It might sound like that but just bear with me. There might be something in there that would be useful for you. Your family someone. So for helping the unemployed it extends that three hundred dollars a week plus the state unemployment end it makes the first ten thousand two hundred dollars of that non taxable for households making less than a hundred and fifty thousand dollars it also fully funds cobra. Health insurance premiums so that employees who have been laid off can remain on their employer plan for free. There's also going to be another round of checks fourteen hundred dollars for a single taxpayer. Twenty eight hundred couples indy. Get fourteen hundred dollars per dependent now the starts to taper off at seventy five thousand for individuals or one hundred and fifty thousand dollars for couples ended completely gets phased out at eighty thousand dollars for a single tax payer and one hundred and sixty thousand dollars for a couple it gives state and local governments three hundred fifty billion dollars to cover expenses related to covid through twenty twenty four gives schools one hundred and thirty billion for k. Through twelve in forty billion dollars for colleges and that's to help them reopen safely so parents can get back to work for businesses. they'll be twenty five billion dollars going to restaurants and bars. This max out at ten million dollars per company in five million dollars per location additionally there will be seven point two five billion for the paycheck protection program once again forty. Six billion dollars will be going to state local and federal governments to help with testing and contact tracing as well as fourteen billion dollars to help speed up. The vaccine distribution for healthcare there will be financial assistance for aca affordable care act premiums and this is just looking to get the number of people covered by insurance to increase into further incentivize. The south to expand medicaid since they're sort of the holdouts town there. The republicans are blocking that there are also increases in tax breaks to parents who have kids up to three thousand dollars per kid if their age six to seventeen and thirty six hundred dollars per kid if they're under six years old and that spread out over the twelve months according to analysis this plus the fourteen hundred dollar check would cut the number of kids in poverty by more than half. In addition there's changes to the earned income tax credit for this year in extends to people without children. And if you're looking for how much that would be for low to moderate income folks. It'll be somewhere between five hundred and forty three dollars in one thousand five hundred and two dollars. Lastly in the rental and homeowner category it gives thirty billion dollars to help low income and unemployed folks afford rent and utilities and at the state level states and tribes get ten billion dollars per homeowners. So all in all. I think thing that really struck me. Was this tweet that i saw saying that. Isn't it kind of crazy. That biden asked for a one point nine trillion dollar stimulus deal and he got a one point nine trillion dollar stimulus deal like i think that makes biden a pretty good politician. One of the main criticisms of obama was at he started out by compromising with republicans and gave them the compromise offer in the first place instead of starting out high. You can't say that for biden so far in this could be a sign of good things to come but like. I said they're hoping that this gets signed into law by the end of the week after the house passes it sometime this week.
Heartland Newsfeed Radio Network
"fourteen billion dollar" Discussed on Heartland Newsfeed Radio Network
"The president's heads west on the brady fox news leaving for milwaukee wisconsin soon his first trip off the east coast. Since the inauguration for a tv townhall event focusing on cove it and the economy was a state that where people have been impacted by the pandemic they've been impacted by the economic downturn The president felt that he could have a good conversation with people about the path forward And also even people who disagree with him white house spokesman jen psaki says covid relief remains a top priority as talks continuing congress even though democrats are still pursuing a plan for passage without republican support if necessary and advisor to former president. Donald trump says his longtime lawyer. Confidante rudy giuliani is not representing him in legal matters at this time they are both named in a new lawsuit over the capital attack in a lawsuit filed in federal district court in washington the nwa cpa and democratic congressman. Bennie thompson claim for president. trump rudy giuliani. The proud boys in the oath keepers conspire to inside the january six riot and that they violated the eighteen seventy one ku klux klan act by preventing congress from carrying out its official duties trump advisor. Jason miller says trump did not organize or incite or spire to incite in violent. Fox's rachel sutherland. The suit seeks unspecified damages. This congress plans hearings on security issues and and nine eleven style commission to investigate the attack meantime the former president just releasing a lengthy statement criticizing election results and republican leaders without word in quotes specifically tearing into senate minority leader mitch mcconnell who voted to acquit in the impeachment trial but criticized trump and his speech trump says status. Quo isn't a winning strategy for the republican party. He's vowing to back. Gop primary rivals who spouse making america. Great again america is listening to fox news. Just how big a hit. The airlines have taken during the pandemic in a new transportation department report finding a plunge in air travel by nearly two-thirds last year to the lowest level in almost four decades. Three hundred sixty eight million people flew to destinations last year. Down from about nine hundred. Twenty three million in two thousand nineteen and airline trade group says the lack of business amounted to forty six billion dollars in losses for the major carriers airlines have looked to government for help a one point nine trillion dollar covert relief. Bill being pushed has fourteen billion dollars to keep airline payrolls going. Some analysts say it may not be until twenty twenty four before the airline. See anything close to a normal flow of passengers. Grenell scott fox news. It's not over yet for states that got hammered by a massive winter storm burying some areas and snow including chicago and detroit sending a larger swath into a deep freeze. Winter storm and freeze warnings are still opt up across texas. Which alone has over. Four million people living through power outages during single digit temperatures state and federal regulators are now saying they will investigate the outages covert pandemic coins of phrase so to speak dr anthony fauci responds to foul cheang a term coined by dating website. Plenty of fish which involves cutting off a relationship with someone who isn't taking the coronavirus pandemic seriously. Don't you a clip of the director of the national institute of allergy and infectious diseases learning the term in an interview with axios on. Hbo is circulating online. Fancying making its way into the urban dictionary in november christine goodwin fox news. A new record close for the dow up sixty four points. Lisa brady fox here that it's the sound of sensitive business data leaking from your fleet of mobile devices. It could be from devices using unsecured wi fi. Maybe an unlocked grab. It was left in a coffee shop. Perhaps a remote worker downloaded an app with malware onto their company smartphone or. Someone accidentally shared corporate information to a personal contact. Those leaks must be plugged now. Provides enterprise mobility management solutions to monitor control and secure your mobile devices with sodhi configured devices to connect to specific wi fi networks wipe lost or stolen devices to remove sensitive data separate personal and work profiles on a single device even lockdown devices to essential apps and functions. Only sodhi helps plug the leaks in your mobile devices. Work easy knowing the drip of lost data is shut off. Visit sodhi dot net slash fox for free trial for fox news radio listeners. That's s. o. T. i dot net slash fox. Here's a look at weather from a hop lands. News feed weather center today partly sunny and cold with a high near twelve wind. Chill values lowest minus tech tonight increasing clouds with a low around on wednesday. A forty percent chance of snow cloudy and cold with a high near eighteen. That's the latest weather. Chacao more news and weather on our website at hotlines news. Feed dot com. Healthcare professionals are unsung. Heroes and the demand is expected to grow by fourteen percent over the next few years. Rise to the challenge. Logan university owned one of the country's top doctor of chiropractic programs logan also offers nationally ranked online graduate programs in rewarding fields like health informatics athletic training health professions education and more become a healthcare hero. Begin logan dot edu nationally ranked globally respected. Logan university leaders made introducing peacock the new free streaming service. Nbc universal. it's hit movies. Current so's live sports trending. Bits and the timeless. And that's why you can't not watch peacock wasser free upgrade from one extreme now peacock.
AI Today Podcast: Artificial Intelligence Insights, Experts, and Opinion
"fourteen billion dollar" Discussed on AI Today Podcast: Artificial Intelligence Insights, Experts, and Opinion
"Sure so my background. The of an engineer and work on that For about eight nine years when various things this way back in the stone age on your piece of than the Financial systems where we think mainframes even so way back and then basically made a move to some of the more product on visible and Us from larger organizations since more offended. florida Worked on bluetooth started the couple ego And other start ups and then to School during working and share out of business. School during google where i got it A decade Doing a whole bunch of thanks Actually join laura interesting time right after had acquired amyloid and so i had an opportunity to sit on. The part of the mobile team really started when work on the strategy and Feel that Up the revolution smartphones will be part of a some extent Change your life And then i was asked to go any Basically fed up rules engineering until he which you with be. Senator there about talking keep already And then took on roles mostly Leading productivity Four zero meeting on olympics leading search advertising At the plan that was about fourteen billion dollar business on so the bulls not more sense as general manager an independent business thing About five years ago. I started looking for what's next and i joined the my meeting of my amazing partners Start allegra Where we look at How can we really organizations with With this new thing called there and this is what. I thinks. Founder and the ceo Looking to help our customers better products. We'll fantastic. I think that's that's what people want. They want better products more cost effectively. So definitely definitely keep doing that. And that's one of the interesting things that You know that's happening this in this market and by the way for those that don't know our friends here at clear malot nearby Presented at our machine learning life cycle event conference that we ran live january twenty sixth through twenty eighth twenty twenty one and very well attended and We had some fantastic. You know thousands of attendees and some fantastic presented who really really honored by the presenters that we had in the experts including our guest here nearby lip so you know one of those things that we talked about there at the conference. Was this this area of dealing with machine learning from an operations perspective right and um you know people may be familiar. Who may not be familiar with. All these aspects of operations may have heard of devops developer operations. Maybe they've heard of m. l. Ops or even model ops at some are calling it. And so i think i think maybe can you provide for those. That didn't attend a conference in your session. And by the way we encourage everybody to register even now the the conference while you here in this is still live at l. life cycle comp dot com. You can register. All the sessions are available. You can view everything you can interact..
7 Layers
"fourteen billion dollar" Discussed on 7 Layers
"All this to say the cloud computing industry growing. It doesn't seem like that. Trend is going anywhere. Telecommunications operators are expected to spend combined one hundred and fourteen billion dollars a network cloud between twenty nineteen and twenty twenty five according to analysis mason these investments range from network functions cloud software hardware and professional services..
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"fourteen billion dollar" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"Right so you asked me about my role with that as a backdrop <hes>. I lead the technology strategy delivery technology operations for all of the business technology in the company. So the the the systems that run the fourteen billion dollar enterprise. I also lead digital risk management for all areas of technology. We felt that risk was such an important in cyber security risk in particular was such an important element that we would consolidate that under one leader across all areas of technology in. I and my team do our jobs will. Then we'd like to say we're quipping our businesses with all things digital all things data in all things collaboration the kinds of capabilities that they need to to win in growth in the marketplace. All good and i really appreciate the context setting each of those which it which offers a lot lot more backdrop as to why and how you're doing these things as well <hes>. You've been in your role for more than eight years now at an unusually long tenure as a cio. Which is a shirley sign of the great work that you and your team are doing. An during the course of that time i know from our past conversations rhonda that you focused on real cultural transformation of see the department. You found eight years ago naturally. Eight years passing would mean that de la changes but even the emphasis and indeed. The culture of the organization has changed quite a bit <hes>. Based on some very deliberate changes that you've incorporated into the into the it organization. Talk a bit about that if you would sure. That is a great question. And i also think you're pointing out. That eight years is a long time right. He said in the chair and young. I think what you meant is. I've likely seen a lot absolutely correct when i joined. The company denies more as a holding company with very thomas business units and they had very independent decision making on how best to run the pnl and really how best to run their technology stacks and while it was a hugely successful model drove a lot of shareholder value but were also not only autonomous culture. We were also highly acquisitive in fact a hundred acquisitions in tenure timeframe while not all of those were in emanate size of a black and decker in beckham two thousand ten before i joined the company on that doubled the size of the company that one acquisition <hes> but the size of an acquisition of the revenue size of the business is not the only indicator of complexity as. I'm sure you know there are many factors but suffice it to say that with autonomous decision-making coupled with a lot of him. In a that. When i arrive there was a lot of complexity. A lot of duplication in really a lot of costs and inefficiency working in the it landscape <hes>. By it organization was equally <hes>. I found the haves and the have nots <hes>. There were businesses that were having a good year. They were investing in one thousand nine hundred and then there were businesses that could be struggling given the diverse portfolio of businesses. That we we have they might be not invest are not even in technical debt reduction her life cycle maintenance so i found duplication of technology. I've found multiple contracts that were with no cross business. Unit leveraged ongoing on sharing skill sets across divisions <hes>. To get better scale of resources. So as you might be reading into this is the first cultural. Change i made was to form this enterprise. it organization. I'm really consolidating across the company and there was huge buying in for it as you can imagine once again to highlight some of the inefficiencies that were taking place and really some of the limiters durability to scale and take that next next wave of growth um so my goals were to preserve the culture of business unit closeness because in that former model. It was tightly integrated with the business. And i didn't wanna lose at tight. Integration but also wanted to deliver a lot of scale of the technology people assets and leverage on kind of across the whole so this is a major undertaking stepped into the mini little holes along the way. But i'm happy to say that we're we're fully in this model now after course after. Eight years <hes>. I'd say some of the most important things that we focused on. What's really the opportunity for the team members on because no longer were they being whipsawed by this. Michael ups and downs is there was a pretty steady overall rate of investment in it but they had opportunities as team members to work in different businesses and experience <hes>. A lot of different dynamics as you move from say the security business to the oil and gas business to work on a project or provide some support.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"fourteen billion dollar" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"Some some tool of yours basement or a garage or a work bench of some sorts of many of them and we have many more. If they would like a well rhonda thank you for that overview. Why don't we move to your your role as chief information officer Talk a bit about. What's within your purview. In that role. Okay well as we know technology Permeates everything we do right. And so it's no different at stanley liken decker. In the way we think about it Is in terms of the traditional. It or something we we call it business technology so all of the processes that run the business architecture of the company but technology is also in our commercial offerings and digital products that we offer or we do a lot in our our security business that is fully digital business. Call that commercial technology and so there's btc business. Technology commercial technology ct and then technology also encompasses our efforts in our manufacturing environment to connect automate our machines In that operations technology. So it's almost like emily but it's bt cg an ot and that's how we think about it in it stanley black and decker. A we do that. Because our maturity level and our focus levels in all of these different areas is is pretty different. All right so you asked me about my role with that as a backdrop I lead the technology strategy delivery technology operations for all of the business technology in the company. So the the the systems that run the fourteen billion dollar enterprise. I also lead digital risk management for all areas of technology. We felt that risk was such an important in cyber security risk in particular was such an important element that we would consolidate that under one leader across all areas of technology in. I and my team do our jobs will. Then we'd like to say we're quipping our businesses with all things digital all things data in all things collaboration the kinds of capabilities that they need to to win in growth in the marketplace. All good and i really appreciate the context setting each of those which it which offers a lot lot more backdrop as to why and how you're doing these things as well You've been in your role for more than eight years now at an unusually long tenure as a cio. Which is a shirley sign of the great work that you and your team are doing..
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"fourteen billion dollar" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"We are a fourteen billion dollar business were made up of three segments are largest segment is our most well-known which is our tools and storage business and it's about ten billion dollars and that makes us the largest company in the world We have things in this business. Power tools handles accessories and storage solutions. We to other segments and their roughly two billion dollar businesses. Each our industrial business delivers things like Engineered fastening for industrial and automotive Customers we have infrastructure implements of all kinds of applications things like railroads road paving demolition. So we help you build things and we also help you tear them down. And then we're also in the oil and gas business. We provide services for welding inspection for both onshore and offshore and then we have the security segment and we deliver health and safety solutions. They are with things like touchless automatic doors contract contact tracing solutions and security installation in monitoring. So it's a diverse set of fantastic interesting businesses. So that helps a bit. I need to tell you to. We have an incredible portfolio with brains so as our name would suggest where stanley brands in black and decker brands. but we also have dwelt Craftsman irwin an lennox. Had to name a few so great businesses great brands. I'd imagine most people listening to here have.
Our Body Politic
"fourteen billion dollar" Discussed on Our Body Politic
"To application of the law. Do you think so. The policies in the city and in the state are intentional. And so oftentimes you see the result of those the disparage treatment of those who have been invisible for far too long The question is why is that young man Who obviously has a drug problem with drug addiction and it was homeless. Why is he sleeping in the subway or in the alley. It's because we've closed homeless bids we've We've got we don't have. We don't enough hospital beds. We don't have enough treatment beds. Our priorities unfortunately really don't reflect The the felt needs of new yorkers and are americans and that's why we have an opportunity as a result of this pandemic because it has laid bare the racial disparities it has laid bare the racial defaults. We have an opportunity to reimagine government invest in the needs of individuals who were struggling under the weight of poverty. Those were struggling with addiction. Homelessness feminization of poverty in the list goes on and on and on fuss suffering from food insecurity. We have an opportunity to address that We have an opportunity to use all of the wealth of this of this the greatest nation on earth to address the needs of new yorkers who are hurting right. Now we've witnessed it all. We've seen it all so we when we come out of this on the other side of the mountain. It's important that we just not return to normal. It's important that we structure government and you've been working on Guidance for evictions. Tell us a little bit about that. Well there's a moratorium on evictions. And in certain instances people are having a difficult time making ends meet paying their rent putting food on the table etc and so It was important that we impose this moratorium and so we worked with. The governor's office the office of court administration. Not only with regards to tenants. Those who are having a difficult time paying their mortgages as well. We work with the governor governor. I don't wide range of issues to address. As i indicated the felt needs of new yorkers who were struggling at this point in time given Given unfortunately the economic situation of the state of new york new york state is suffering a fourteen billion dollar deficit. A new york city is facing a deficit and so In the coming weeks months city in the state in various locales all across the state will be adopting austere budgets But now that we have a president who is a sympathetic president. The empathetic president and a wonderful vice president who shares his values We could issue. Stimulus checks to the tune of two thousand dollars. Hopefully two thousand dollars. We can pass an infrastructure bill to put people back to work we can. We can talk about our environment we can talk about reproductive rights and respecting the rights. Women we can defend the affordable care act. We can protect our immigrants. Those are the priorities are the values that i hold And i look forward to working with the biden administration To make this a more perfect union. I only have one more question. And that is what you do to Fill your well. You know you've mentioned that you go to church. Just give us an example of one other thing. Whatever it is that allows you to keep doing this work. I walk a lot in my neighborhood. I talked to children. I talked to senior citizens. I laugh a lot and i sometimes. I'm in my home. And i dance with complete abandoned Yes dance like no one's looking exactly. Yeah well you certainly have a lot on your plate and we're very grateful that you may time. Thank you new york general james. Thank you so much thank you. That was tips. James general for the state of new york coming up later this hour a new politics roundtable with our favorite political experts. What really struck me is just. Yeah i mean frankly the hypocrisy i mean when we when we were on the ground in places like ferguson in baltimore and You know covering the black lives matter movement. I mean we. We were questioned about whether we could objectively kind of cover This movement even as our live experience frankly gave us an advantage to to seeing That story into understanding of the dynamics of what we needed to be talking about. You're listening to our body. Politic at the intersection of raisin almost any political issue isn't opportunity a chance to better understand obstacles to equity in the context of history and how the past influences our conversations now tested is a podcast hosted by leonida inge and dave dewitt that examines the struggle as it's happening today in the south as told by confederate monuments falling the corona virus pandemic and communities fighting to be heard. It's got strong voices. Strong people and strong storytelling for complex times subscribed to tested from north carolina. Public radio on your favourite audio app so many of us were watching on january sixth when right wing supporters of president donald trump violently stormed the capitol building later. The president was impeached by the house for incitement of insurrection. And many are now calling it an attempted self coup or an.
How I Built This
Interview With Steve Ells
"So there's a famous ted talk by a guy named barry schwartz. It's called the paradox of choice and in it very explains that virtually all kern research on human behavior supports this idea that we humans we don't really like to have too many choices. Anything beyond four to six actually makes us anxious and unhappy which could help explain the success of kepala. Because if you've ever been in one you can probably tell me the menu by heart burrito bowl salad tacos four options. That is it. There isn't a whole lot to agonize over. And it's one of the reasons why you put late just exploded in the two thousands on the eve of the millennium the company had just been more than twenty stores and today cipolla has nearly twenty three hundred locations across the us and in four other countries and its value is around fourteen billion dollars now aaa as you will hear was never meant to become what it became. It was supposed to be a one off burrito joint in denver a joint that would generate enough cash to finance a high end restaurant that was developed as plan. He's actually a classically trained chef and he wanted to make michelin starred food. Not foil wrapped burritos into the earliest recollection. I have of in being in the kitchen and cooking was in the third grave and we lived in germany. And i remember cooking scrambled eggs. Had you make them. Did you scramble the digital crack the eggs into the panel scramble him or did you scrambling before no ice. Scrambled them for With a fork in a bowl. Thank and then. My mom had a a very well. Seasoned cast iron skillet. Nice i mean it was very very smooth and almost nonstick and i used to push the kurds into the center in a square shape. A perfect square. Maybe three by three or three and a half by three and a half something like that and then and then when it was just set enough i would flip it over and I mean it was very controlling. My can says a lot about me. Because i'm a i'm a little bit of a control freak and of course i had no idea then but I was just. It's an interesting. It's an interesting memory. Like what point did you start to a. I've read like stories about you in college where you'd dinner parties and and people like. What is this that you butter you. You'd make like duck con feet and stuff like how did you even know about this. How did you get into foods at such a young age in it well. My mom was a very adventurous cook and a really good one And she had a garden. She got all the cooking magazines and had a lot of cookbooks. And i used to. I used to spend time in the kitchen and And follow along. And at some point. I started watching cooking shows a julia child and graham on the galloping. Gourmet and the pbs series. The master chef series. I really love those and and would duplicate the recipes and and liked to cook for my family and then When i was older in high school i started having people over so you go to college in in boulder yes and you study art history and of course it made zero sense to my father. What you do with artistic. He'd be like so. What are you gonna do that. Our history degree. Of course i would say you know. I don't know we'll see. We'll see how this unfolds. And probably i was thinking that i would continuing and go to graduate school but my roommate suggested to me that i go to cooking school. She said this just weeks before
The Dallas Morning News
Dallas Based Southwest Airlines Says Air Travel Recovery Could Be Fading As Coronavirus Cases Rise
"Airlines says gradual improvements in air travel recovery. During the last three months have stalled in recent weeks and it's unclear if a surge in covid nineteen cases nationwide has passengers nervous about flying again. Dallas based southwest noted the uneven recovery in an update to investors yesterday morning saying that it has reduced its daily cash. Burn to ten million dollars a day and that it still has nearly fourteen billion dollars in the bank. After passenger willingness to buy tickets again between august and october led to signs of hope at south west the company has experienced a deceleration in improving revenue trends for november and december twenty twenty in recent weeks according to a regulatory filing
Breaking Biotech
Evofem To Launch On-Demand Contraceptive
"Today we're GonNa talk about a company that is trying to commercialize a female contraceptive and the company's called Yvo FEM and their product is called sexy and it's going to be launched actually in the next few days. So I wanNA talk about them as the main story, and then we're going to start with some updates from Gilead O'Donnell as well as bio Merrin and actually we got some news from Amarin today that I'm GonNa touch on just very very briefly because I haven't. Totally incorporated it into my portfolio yet, but we did see some dramatic news from them. So with that, let's get going and the first thing I want to talk about is the Gilead, news that we heard and what we found out is that they were issued a complete response letter for the approval of Phil God's Nib, which was their treatment for rheumatoid arthritis. So, this is a bit of a surprise I would say and Phil God was going to be something that replaces revenue streams that are slowly starting to fall off a patent for Gilliat and they're gonNA start to feel that in the form of loss of revenue and forgotten it was kind of shoe into get approved by the FDA issued them this complete response letter saying that they will not approve the drug unless certain conditions are met and usually when companies receive Sierra L. either it's unconditional in the sense that they don't have any recourse or it has conditions on it and hear what we. Found out that the FDA wanted more data from their face, three Manta and Manta Ray studies before completing its reviewed, the NBA and they're specifically concerned about issues in male sex organs. So Gilead is going to have to provide this data, the FDA before they will approve it, and it looks like from what I looked very briefly on the clinical trials dot Gov site is that the primary completion date isn't until early twenty, twenty one where they final completion date of twenty, twenty four. Now Juliette is pre savvy. So I feel like they'll be able to eventually overcome these hurdles once they provide some data. So I. don't see it being long long-term hindrance of the company, but we've seen the stock get hammered pretty hard since the glory days of remedy severe and in general has been kind of slow to adopt new therapies to their pipeline in order to maintain that growth that people expect. So hopefully, with the approval of Fil gone, they'll be able to replace those drugs that are falling off of patent and be able to maintain their value that way. But personally no position for me from Gilead but I thought it was interesting to point this APP. Nasr Company. I WanNa talk about is by Merrin, and they are trading at a fourteen billion dollar market cap now, and they were also issued a complete response letter for Rock Avian and this was their hemophilia, a gene therapy and I've touched on Hemophilia A and. A number of different videos but I haven't touched the topic in a while. I did notice the CRO though and it's interesting because the conditions that the FDA wanted in order to approve the drug was evidence from two years of data for its ongoing phase three trial to support the durability of the gene therapy. So this is obviously kind of rough for the company because the bar is rarely set this high for other companies that two year window of therapy is going to be maintained. This has me questioning the gene therapy space as a whole that you know other companies that have invested in say route Jenex bio if they're going to have to show two years of data to show that it is a Gerbil effect, this obviously plays into the models and delays the time at which it's GonNa take for them to get revenue. So kind of. makes. Me Nervous about the gene therapy space but you know different diseases seem to have different thresholds for what the FDA wants and it's tough to predict. So thought it was worth bringing up and just for those who are actually following by man, their last phase three patient will complete two years of follow up in November twenty, twenty, one, serve you're expecting revenue from this drug. Now you're GonNa have to wait until twenty, twenty two proudly see any revenue. So that's a disappointment even though the drug does help us significant number of patients. All right. Moving on I WANNA touch on otani therapeutics ticker symbol od T, and they're trading now at around five hundred, seventy, four, million dollar market cap for those that don't remember I, touched on this a while ago they were short candidate that I had once I seemed like they had a run up in the stock for no obvious reason, and then I sold it off in anticipation of run up to this event that we just saw news to, and they're commercializing a tax seen that is given orally. So right now has to be given IV in a lot of complications surrounding that a lot of hurdles that patients he'd go through to get this. Treatment and it's Kinda tedious. So if he can come up with an oral version, it would be much better for patients and that's what Oh Donald Trump do here. So what we heard is that their face three contessa trial achieved primary endpoint and what they were looking at is test attacks will their drug plus bean compared to just capital being alone, and the results showed that the progression free survival was significantly better in the tax will plus Kapustin group rather than just cap aside to being alone nine point eight months versus six point nine months with a hazard ratio of zero point seven to just pretty good and value point zero, zero three.
Business Wars Daily
Diageo to Buy Ryan Reynolds Aviation American Gin for up to $610 million
"Well, the Movie Star and Entrepreneur Ryan Reynolds certainly had something to celebrate this week. His Liquor Brand Aviation American gin is being acquired by the world's largest spirits business on Monday. Reynolds. Announced that Dr. Joe is buying the Startup Jim. Maker for up to six hundred, ten, million dollars the the fourteen billion dollar owner of brands like Johnnie Walker Whisky Tanqueray Gin and Guinness Al among others. The deal is a coup for Reynolds a Rakish forty-three-year-old celebrity actor best known for his performances a superhero with a twisted sense of humor in the twenty sixteen movie deadpool. It's also a testament to reynolds star turn as a copywriter. Reynolds bought an ownership stake in aviation in two thousand eighteen and became its brand ambassador. He applied his quirky provocative sense of humor to the task to here's just one example remember the Peleton ad that went viral in a bad way the one where the poor Peleton wife played by actress Monica, Rees appear to be exercising against her will to satisfy her sexist tons desire for skinny spouse. Well, Reynolds decided to help his career and Tro Peleton at the same time he cast releasing an ad for. In it, she in two friends are sitting at a bar, their nursing MARTINIS. She looked downcast while her two friends look on with concern. The peleton wife then downs, the entire Martini and the friends pass there's to her the implication of course, is that she has left the suddenly abusive husband on social media just to make sure we all got the joke Reynolds wrote Hashtag exercise bike not included naturally that ad went viral in a good way. It was cheeky ads like these along with Reynolds thirty, six, million instagram followers. And fans on other social media platforms that helped aviation sales skyrocket revenues grew in triple digits in both twenty, eighteen and twenty nineteen making it what Fast Company called the fastest growing super premium gin and the World Diario who's Gordon's? Gin. Brand is the world's largest was watching closely just three years ago. The conglomerate bought a Tequila brand from George Clooney valuing it at a billion dollars. That brand has performed rather well for Dr Geo. Now Aviation's biggest rivals have become family with the acquisition both tanker and Gordon's GIN become sister brands to aviation. The deal doesn't allow Reynolds to simply take the money and like the superhero he plays deadpool run he'll stay on as an owner and the brand's ambassador presumably for the next decade Diarios paying three hundred, thirty, five, million dollars now and offering an early of two hundred seventy, five, million dollars more over the next ten years depending on aviations performance
Business Wars Daily
As Grocery Deliveries Soar, Startup Raises $10 Million to Unseat Giant Instacart
"As a result of COVID, nineteen instinct cart has become the Goliath of grocery delivery businesses as virus fears. Keep us out of grocery stores. We've been relying on food delivery mainly, INSTA- carts GIG workers called shoppers to keep a stocked up. This April INSTA- cart sales were five times greater than a year ago the Financial Times reported that I've popping growth hardly escaped. Investors Notice INSTA-. Cart raised another two hundred twenty five million dollars earlier this month that evaluation, approaching fourteen billion dollars. That's nearly double its valuation only eighteen months ago, perhaps needless to say instant carts thirty-three-year-old. A poor va mater is now a billionaire. But less you jump to the conclusion that Mehta can sit back and relax safe in his seat at the top of this rapidly growing industry. Thank again. A small startup called Ling is coming rich share of the grocery delivery business, though tiny compared to Insta- card investors are also taking notice last week dumpling raise six point five million dollars for a total of ten million dollars in funding so far founded in two thousand seventeen dumpling helps people create independent delivery businesses, the difference between shopping for instance card and dumpling is simple, but fundamental dumpling delivery workers own their own businesses Insta- cart workers are subcontractors paid by the shopping trip. Dumplings Co CEO's Joel. Shapiro Innate Danna make no bones about what motivated them to create dumpling. They felt sharing economy companies like Insta- card were treating workers on fairly so they created an APP that helps perspective entrepreneurs go into business for themselves to create a new business users pay a ten dollar fee for access to dumplings services and listing on the company's site where customers can search for shoppers. Bhai Zip Code. Shoppers paid dumpling a five dollar fee for each job or when they get busy enough switched to a monthly payment of thirty nine dollars. Dumplings model is not unlike Amazon's two year old partner delivery service, which also helps people start their own businesses in their case exclusively delivering Amazon packages supporters of the independent model say self employment in the delivery industry offers a number of advantages including higher revenue and insulation from the anti-god worker legislation that's cropping up all over the country so far fueled in part by the pandemic. The models seems to be working dumplings. Founders say customers or ordering twenty times more groceries than they were before in nineteen, and the company says it has helped. Two thousand people start their own delivery companies people. People like Kelly Vilchez in Orange County California. Vilchez operates under the business name shop girl. Oh, see. She told the L. A. Times that she's earning three to five thousand dollars a month. She's clearly a dumpling success story. According to the shop girl OC facebook page villages is featured in dumplings advertising campaign in contrast Insta- card has been plagued by shopper complaints since the onset of the coronavirus in March and April, many walked off the job, demanding better protection against Covid, nineteen higher tips and sick leave the Winston card initially claimed the strikes made no impact. Courts reporter Michelle Chang Rights. That's debatable on June. Fifteenth the Seattle. City Council voted unanimously to require that. GIG were companies like Insta- card and Grub pay their workers an extra two dollars and fifty cents hazard pay per order. That requirement is intended to last through the end of the COVID nineteen civil emergency declared by Seattle's mayor. Insecure has vowed a legal fight. Similar legislation is pending in Philadelphia New York and San Francisco Chang writes. It is these sorts of ills shortages of personal protective equipment, low pay and lack of sickly. The dumpling claimed self employment solves, but entrepreneurship isn't easy dumpling delivery workers have to do their own marketing and find their own customers, and they're on the hook. If grocery buyers failed to pay, which dumpling says is rare, that said any platform that helps the millions of unemployed grow their own wealth. Is appealing to investors, and it's interesting to note that dumplings mission says nothing specifically about the grocery business rather they say. We WanNA. Make dumpling trusted partner that helps anyone launched running grow their own service based business. Sure dumpling starting groceries. Be Questions. Where will they go next?
MarketFoolery
Tractor Supply stock jumps after company forecasts 'record-breaking' sales, profit
"We're GONNA start with tractor supply tractor supply which is one of those businesses just like it sounds there in the farm supply business and shares of tractor supply up this morning basically because they they updated their guidance for the second quarter. This is you tell me is was the guidance that good or is part of what we're seeing with the stock just enthusiasm from some institutional investors who are thrilled that accompany any company is actually updating guidance. When we're in this period of time when so many companies are withdrawing it all together It could be a little bit of the ladder Giving updated guidance this earlier still a month ago in in the second quarter so To give the guidance that they expect tractor supply expects Same store sales growth of twenty to twenty five percent With the two thirds of time period down but It's you know it's an extraordinarily big number and caused as everything is right now by The environment Covid and they're just in the right place at the right time. Also they did a number of things Before this all started that put them in position to take advantage of Of this time Having gone further on their The buy buy online. Pick UP IN STORE program which is one which more and more people are using Not only attractors but other places and just twenty to twenty five percent. Same store sales growth for the quarter is The reason the stock's up five percent. Today this is not a particularly big company Just if you look at the overall market cap around thirteen fourteen billion dollars is tractor supply one of those businesses because there had been stretches of time where this has been a great stock to own d look at tractor supply as one of those operators that is an acquisition candidate. Would it make sense for like a Walmart to just go out and make them an offer? They seem to do a pretty good job of serving their base of customers. Yeah they've got a great record with customer focus and I don't know that they the plenty of places I I suppose could work their operations into their own but I don't think that their identity Would do well under that. They they are Advertising themselves serving the the lifestyle out there are out here. I guess and it's of course. More people are spending more time away from cities and our maybe planning on spending large chunks of of the summer
Morning Edition
How are colleges spending their relief money from the CARES act?
"How're colleges spending their relief money from the federal government Congress set aside fourteen billion dollars for colleges universities and their students and it matters a lot how to use that money colleges not only shut down this spring but face uncertainty about the fall semester the president of Brown University told us recently that some universities could go out of business if they fail to reopen this fall NPR's listen that warning is been following the money good morning good morning what our education leaders saying about that fourteen billion dollars that they received so from the beginning if they said fourteen billion was not enough the American council on education hired lobbying group called the money willfully inadequate we're seeing colleges with massive budget shortfalls there's hiring freezes and furloughs and cuts to programs although there is a fourteen billion dollars where is the money going so the majority of that money was in a bucket of about twelve point five billion dollars that went directly to college as the law requires that each school give half that money directly to students whose lives have been disrupted by the pandemic they're facing financial challenges struggling to make ends meet and will not as interesting so the universities don't necessarily get a lot for teacher salaries or something like that the students get a lot of what seems like a lot are they benefiting so it really depends on what school you go to whether or not you've seen that money yet so it's been up to the schools to distribute the money which means they make an application they decide who gets that and there's a lot of need right now in college campuses and there's only so much money in the pot and then there's this larger question about eligibility so several weeks ago that department said only students who are eligible for federal student aid were allowed to get the coronavirus relief that essentially in excludes international students and undocumented students including those protected under daca mmhm and the community college system in California has actually sued education secretary Betsy to boss over those restrictions calling them arbitrary and unlawful but the entertainment told NPR in a statement that if Congress wanted to include non US citizens they would have explicitly said so I'm glad you mentioned education education secretary device because she's been a subject of some of your other reporting on a portion of the cures act this relief bill that is used to have been used to boost small private colleges what's the news there that's right so there was a bucket of money a smaller back about three hundred and fifty million for it the secretary to top of schools that haven't gotten much relief from other parts of the bill and we now know that money went mostly to small private schools many of them religious so one example is wind Brenner theological seminary in Ohio they have about a hundred fifty students certificates and graduate degrees they're in the process of receiving about half a million dollars prince please when the president there told me it'll be about a third of their budget for next year and they plan to use that to offset tuition we are smaller school we have a very focused mission it's too quick leaders for service in god's kingdom which is not a shared mission however possibility in the number of students we could reach through eight seventy that these fungal while you know this comes at a time when public colleges especially community colleges are really hurting these are tens of thousands of students and that's in comparison to the smaller some schools that serve you know in some cases a hundred students okay so questions about the distribution of the money and the amount as well and we'll surely hear more on this subject listen thanks
Rush Limbaugh
Boeing Loses Plane Orders as Coronavirus Hits Global Air Traffic
"Boeing says it lost orders for one hundred fifty of its already ground at seven thirty seven Max planes last month Boeing is still working with global regulators to try to get the plane airborne again by mid year but now airlines are fighting for their financial lives and that isn't going to get any easier according to the international air travel association the group says airlines around the world will lose three hundred fourteen billion dollars in revenue due to the virus
How I Built This
Lululemon Athletica: Chip Wilson (2018)
"So it used to be that the clothes you wore to the gym. Were like the absolute worst clothes you owned. You know the radio T. shirt. You got for free at some event sweatpants with your high school logo. You know the kind of short shorts Dr J. would have worn on the basketball court anyway. Most of this apparel was cotton-based Baggy. Didn't look so great in honestly. Nobody really cared. You had one job to do which was to sweat at the gym but at some point in the past ten or fifteen years all of that changed because suddenly the clothes you wore to work out. We're also the clothes you can wear to the grocery store or at a restaurant or even at work so for better or worse people were wearing their gym clothes outside of the gym on purpose and this trend it was called at leisure and chip Wilson. He was one of its pioneers. The brand he built out of his house in Vancouver is now worth more than fourteen billion dollars. Now before I go on let me just address. The elephant in the room chip has said some things that are well. How do I put this rude and Borish? He's put his foot in his mouth on several occasions. He's embarrassed the company and you will hear about some of that later on in the show. But he's also an open book and open to getting grilled all about his life. He's not a cautious media. Trains soundbites guy which is in part. What makes him interesting? Because that's sort of how chip grew up without any pretension middle class. Kid and Calgary. Canada chip was athletic. He played hockey and football. His Dad taught phys ed at the local high school and his mom was a seamstress she lived for it. It's were total passion was. She tried to make clothing for the kids. But of course we didn't. We'd never liked what she made for us. But you know if I want to spend time with my mom. It had to be editor foot in the sewing room. Until did you learn how to sew like from an early age. I can definitely so but more so I think it was working with the butterick patterns and watching my mum lay them down on the fabric and then and then how she moved them and twisted them in order to save fabric. I always say how important that is because once I got into big production and you'd lay fifty to one hundred layers of fabric down when you can save even five six seven inches a fabric that can mean thousands of dollars now before chip would go onto so and designed clothes for a living. He actually got his first real job at an oil company working a grueling incredibly lucrative job on the Alaska oil pipeline for almost two years. How much did you walk away with? How much cash interesting in? Today's dollars probably about six hundred thousand one hundred seventy five thousand. American is amazing amazing. Nineteen you were just given this cash. And that's simply because there was all this money to work on the Alaska oil by blood. I guess right and trade my life in for money I mean there was no girls. There was nothing there except for work so I also wonder you know if everyone got that opportunity with they have made the same thing out of it. I did a pretty good use your eighteen nineteen or twenty with a bunch of cash. So what did you? What did you do with the money? Well it all had three goals in Alaska when stolen my own house by the age of twenty To be in my own business by the age of thirty and retired by forty and retirement meaning that I was doing exactly what I wanted to do so so I did. I bought a house and then I Finished up my degree and I worked for an oil company. And this is an oil company Second in Calgary right because you you moved back there some Roy right and I guess in like the late seventies right Pretty much at around the time you graduate college or you start to make shorts like baggy shorts for men year. Because I didn't have to get it what it was like. At that time. Men were very short shorts. That were very very tight. You know you only have to look at movies from from the late seventies to get that kind of picture and And they made a lot of sense to me because I had very big legs and I was. I think because I was working out three times a day. I was always in a constant sweat and the idea of wearing shorts. Full-time was very appealing to me. Yeah and so you and these were like flower printed like loud Hawaiian like trader. Joe's like those shirts like that's what the shorts looked like. Yeah exactly but we have to see it in context that there was nothing like that before everything else. Was that era of Brown rust off color. Okra yellow like solid colors. There was no brightness in the world at all that time so that was a radical. Look so I started because I couldn't get loud flowered prints in two thousand meters which is kind of what a person needs to go into business. I started doing what my mom did. She quilted fabric so I would get masses of different types of patterns of fabric and then cut them into squares and then I would quilt them and then in order to keep the stability that I put up packing on it of black fabric. And then I realized I had reversible shorts so normally were they long and Begi and reversible. They just really revolutionized shorts. And then the skateboarder started taking them on because it kind of covers their knees even know about them. Did you start to sell them somewhere? Well I mean that's the invention of vertical retailing because I made about three hundred pairs of shorts up in nineteen eighty and I went to the big department stores here in Canada and they would have nothing to do with them so I had my first inventory problem so I thought what am I going to do so I basically set up a lemonade. Stand for the shorts. And in in Calgary in the downtown mall at Calgary and I had a partner girlfriend at the time and so we did that together and we would lay all the shorts out and then they would make like a thousand dollars a day selling the shorts and has making like a hundred and twenty dollars the oil company so it was tough to figure out the math of that and what these will not swimming shorts. What who would wear the shorts? What would you be doing while wearing shorts? Well these particular shorts you know. I couldn't release. It was tough in the oil business of conservative Calgary where people were practice suits and cowboy boots to them on loud begi shorts and so I originally called them barbecue shorts because I needed to give men needed an excuse to wear them. I knew they wanted to wear them. But as you know a couple of years went on and that's again that's when the skateboarding market took over from the surf market and the young boys you know like tend to eighteen started wearing them so this is this is one thousand. Nine hundred eighty. You've got barbecue shorts by the way the barbecue season in Calgary fairly short like a couple of weeks again forty days forty days. You've forty days or these shorts. And Calgary I mean not a brilliant marketing move but it worked people were like our barbecue and so nineteen eighty and then but at the same time you were still working for this oil company on the side or or. You're doing this and how long before you quit the oil company. Well ahead my goal of quitting being in my own business by thirty so I worked through company for five years and quit on my birthday. Your thirtieth birthday exactly. Did you create brand? Around around the barbecue shorts. Yeah I I called it. West Beach Which at the time was I think it's probably from being in San Diego whereas young and probably the the incredible feeling I had from living on the beach every day minute a little bit. Yeah when I was a little kid. And I being in Calgary. All's wanted to get back to the beach. I want to get back to the west coast. I think that's where I felt best. So that was the brand I built up around
Aviation Week's Check 6 Podcast
What's Next for Bombardier?
"It's been a big month not just for Birdie but for business aviation in general. By months I mean. Basically since January sixteenth until February seventeenth. There was all kinds of speculation. About what bombard he was GONNA do. Because January sixteenth. They came out with a warning to Wall Street and they said first of all our twenty one thousand nine financial results are going to be so great. But that's not the biggest news. The biggest news is we're going to do something to our business portfolio. We just don't know yet and that got everybody going. As to what the possibilities or in the possibilities were bombarded currently exists with two divisions a business aviation division and in bigger train related division of trade related they make everything from actual trains to signaling products that go along with the railway system and so turned out. They were shopping. Both of them out to see which one could get the better deal and on February thirteenth. We heard the actual financial results for the year. And they of course. We're not as great as once hoped but more importantly what the. Marta announced that it was selling the rest of it. Eight to twenty stake to Airbus the eight to twenty is the series that Bernier originally developed and they were going to sell this now. They're remaining speak. They'd already sold part of it. They're going to sell the remaining of it for about five hundred fifty million dollars in cash and what that means is Airbus gets to walk away with the whole former C. series. Now the eight to twenty is entirely in its control and then four days later on February seventeen bombard. Ea announced it had reached a deal to sell its train. Division notice bombarded transportation to also come of France also is one of the two big train makers based in Europe Siemens being the other one and long story short. They're going to sell this for. They're going to sell the training division for up to four and a half billion dollars which does sound like a lot of money but then again you're talking about businesses that have more than fourteen billion dollars backlog or annual work and so it's it was a pretty much a fair deal all around and for Bardy what it does is it brings a desperately needed money. That bombarda was running out of Because it has a major debt payment next year and had to make the more importantly it had this huge debt pile of more than nine billion dollars that it faced with no real great business plan to help to pay it off now to getting out of the train business. And it's getting out of eight to twenty. It's going to be business aviation only and it's GonNa have half the that it used to have. So what does that mean for bombarding going forward? Let's say some big space so this money going trump's ideas trouble having trouble wild -veloping because he went way over. Budget and and Airbus Boeing basically were playing competitive games so they couldn't get a huge hole so they brought in a new CEO about Bellemare and they launched a five year plan and they've been sort of on that plan selling everything everything. They've acquired over the last three decades. They've been selling off to judge as part of this plan. How quick can you name them? All CR J sold off candidates. They've sold off the Canada's down view PLA. They've sold off. Sra Damn Cameras Downfield. They've sold of Canada. They sold off the would bomb. They sold off the out. J. Them Nestled on twenty with pupils. One hundred hundred let themselves with the business championships. Actually with you. Get back to nine hundred eighty six. I started when the quad candidate. And they're still making the challenge but anyway southern this strategy this five year turnaround plan and the idea was by the end of twenty twenty. They would have they'd be you know they'd be back into having SPEC CASH. They could use to pay down the debt right. So we're all tracking along this way. And of course the rail business going to ride together just contractual delivery troubles so they have all of a sudden at twenty twenty figgers way. Wonky and it was so fun to read the Michael Story because the apple is so McCall was saying he segment strategy. This is not strategy. Ain't just has been almost fire sale. Just keep so to say that. I've been thinking about this philosophy days sadly I've been thinking this philosophy and it's like watching a horror movie right. We have saved these. Don't go into that darkened room with taps which don't turn your back on the camera. Don't gain that car in the history of bodies don't stretch the J. develop a new airborne. Don't leave your regional airline customer base behind to develop an airliner. Don't try to yourself that you're not competing with the HIP Hustler. Unless you all of this thinking I really still don't WanNa get in that car bombarded. They are now very focused on business. Va Shin. But I'm this is not the end of the store.
Morning Edition
Farmers received billions of dollars to compensate for tariffs
"Oregon farmers receive twenty two billion dollars in federal aid this year NPR's Dan Charles reports that's the highest level of farm subsidies in fourteen years government payments to farmers this year went up sixty four percent compared to two thousand eighteen more than half of the money fourteen billion dollars was supposed to compensate farmers for income they lost during trade disputes with China when the US impose tariffs on imports from China the Chinese cut imports of America's soybeans and farmers got less money for their crops the US department of agriculture calculated the payments based on a farmer's production so the bigger the farm the bigger the payout some Democrats in Congress are criticizing the USDA for restricting access to food stamps or snap cutting off benefits to the needy while delivering generous payments to
Marketplace Morning Report with David Brancaccio
Apple Irish tax case appeal heard by EU court
"A landmark case heads to Europe second highest court today apple is challenging eight thousand sixteen order to pay more than fourteen billion dollars in Irish back taxes the BBC's Andrew Walker reports the European Commission said the Irish government allowed to subsidiaries of apple to attribute almost all their earnings to a head office which existed only on on paper the arrangement the commission said enabled apple to avoid taxation on almost all the profits generated by sales of its products in the entire issue because because it was a special arrangement not available to other funds it was the commission decided illegal under EU state aid rules which are intended to prevent governments giving companies and unfair yeah financial advantage the commission has said Apple should pay the unpaid tax island and apple are appealing against the ruling the EU court they say the commission made a number of legal and procedural errors. The case feeds into a debate about profit shifting by international businesses seeking to reduce tax bills. Something many countries are trying to to tackle for the Organization for Economic Cooperation and Development
Equity
Unpacking DoorDash's $410M Caviar acquisition
"Some big drop that we couldn't help but dig into which is that door dash which we talked about a long show is buying caviar which we haven't from square which never mentioned so I have a lot of questions gate but what is the gist of this deal yeah. Unfortunately I think I have more questions than answers at this point but I do love and we get to talk about breaking news is very exciting. Okay so about an hour ago. Jordache announced it had reached an agreement with square to purchase caviar which is the on on-demand food delivery and catering business from square for four hundred ten million in cash and stock so right now. We don't know how much of that deal is cash. And how much are that dealer Stock Alex. Do you have a guess as to which would be the majority will I would always say in a situation like this. The majority is going to be stock because every company to conserve cash as much as they can't. They lose money and we know Jordache does but we also know that door. Dash has raised a kind of astounding amount of private capital in the last twelve months. It's raised. I think goods one point two five billion in the last twelve months give or take so if they had to be more cash kate they could but I believe the original sale of caviar to square was all stock doc so I wouldn't be surprised if stock was the majority of the transaction yeah I agree. I mean Jordache has to be one of the most well capitalized private businesses that there is in the market today so you know they certainly are sitting on just mountains and mountains of cash so they have the ability to do that so the acquisition isn't surprising but you know I think and people were surprised and I know I was by them purchasing caviar because it already was owned by square and there are plenty of other businesses that it could have acquired in this food delivery space and I. I think we all expect consolidation. That just wasn't really the deal that I saw coming. I mean we're you surprised by this. I hadn't even heard the demers rumor that square wanted to get rid of caviar. Let alone that it was going to sell it for this amount of money because if you go back in time to two thousand sixteen square one and to off load caviar but it couldn't find a buyer even at a one hundred million dollars price tag so three years ago they were going to drop it for a quarter of what it so thwarts day and they couldn't find someone to pick it off their hands here comes door dash and okay so gently with a whole bunch of respect to people who have numbers that I don't it feels a bit like the overpaid yeah. I think we're in agreement. I'm a bit skeptical as to why they would pay four hundred ten million dollars. It's funny so you know going back in time. A Little Bit Square bought caviar five years ago and what you mentioned ninety ninety million dollars stockdale caviar emerged around same time. A lot of companies were were launching in the food delivery space like I was just doing some research you know a few minutes ago and caviar our sold square only a couple of months after they raised. I think it was like a thirteen million dollars series and just in that same couple of months post mates raised a six till sixteen million dollars series B so very interesting choosing to see like how both caviar on post may have evolved now post mates is getting ready to go public on its own at least that's what we're expecting and caviar is now changing hands with the second time will well. I mean ironically. I think we're GONNA see Caviar. Go public via door dash when Dora she eventually does go public and we were talking a little bit before the show in the question was when and so when I'm thinking I._P._O.. Timing I kind of consider like market conditions are favorable which could try people in the company raised. A lot of money. Recently can push an I._P._O.. <music> out or if you bought something that can also delay <unk> kind of an I._P._O.. And sorry well you can digest the acquisition but in this case I don't actually know how the three things triangulate into figuring you're not wind Jordache will eventually go but it has to worth twelve point six billion dollars right so it's one of the most valuable companies will go public. I'm guessing next year but so they just raised. I know you mentioned. They'd raised over a billion dollars in the last year alone but I was there. Last round was at a series G. I know we're working our way through the alphabet. At this point I think it was serious. Gene they as a two hundred and fifty million dollar round about a year ago there is a fourteen billion dollar round in February if memory holds up and is six hundred million dollar round in May so it's been bonkers <unk> over a door dash yeah and I mean I'm sure a lot of that. Capital raising is as a result of the fact that there's so much money in the market. They know they can bring it in there like let's do all they can but like you Dash May or may not be and just get a sense of like how much money they've been throwing out the window yeah well they would say invest they would quibble with your investing in growth. Here's here's one last year we should move onto the next story but <hes> do you recall when we were talking about actually even before you run the show Heck luck and coffee when they were first blowing up and raising piles house of money they were growing like you wouldn't believe they're growing. It feels Jordache is now and the mcgarth E. S. one and it was super unprofitable because it was so expensive zip and so I'm curious it. We'll see this company end up having a similar looking document other with different expenses because luck was stores one yeah yeah. I don't know I mean door. Dash is one of those companies is that I feel like behind closed doors. V._C.'s are like you wouldn't believe the growth and so all you hear is that and you're like wow they must have must have so many customers they they must be making so much money but then yeah I think when you end up actually looking at the year like okay so this is what people were so excited about like these thought that Uber was going to be doomed without Travis Stratos all right. They're not always correct so many many things but they're not always correct so perhaps in this case will be
KQED Radio Show
Iran's Zarif says talks on ballistic missiles possible
"Gave what is the next step in the U. S. confrontation with Iran Iran's foreign minister is in New York this week the U. S. waited until the last moment to approve his visa but ultimately leading man as required for United Nations meetings how much of odds a reef is taking the opportunity to meet American journalists and he told N. B. C. however Ron might be willing to negotiate with the US United States believes I mean is effected unfortunately to sanctions what would that have been sanctions that have been imposed since president trump came to office once those sanctions or the nifty then room for negotiation if I don't okay what is president trump administration make of that Brian hook is in our studios he's US special representative for a run this truck will come back good morning Steve does the United States want to talk with Iran the president trump and secretary of state Pompeii I'll have made clear over the last year or two that we are very open to diplomatically resolving our differences with Iran but Iran has rejected diplomacy too many times even as recently as Japanese prime minister Ave went to Tehran the first Japanese prime minister to visit the Islamic Republic they rejected his diplomacy he was there on behalf of the president try to be a mediator and try to be a mediator and you're running and supreme leader rejected it and while I'm they was in the country they blew up a Japanese oil tanker and so we have made it clear that we have and you're open to what is possible the secretary Pompeii oh seven the past you would sit down and talk without preconditions but Iran is got to start changing its behavior they've got to choose a better path do you think that the economic sanctions that the US has tightened and tightened and tightened are having the desired effect on we know they are during the life of the Iran nuclear deal Iran's military spending reached record highs they they they spend fourteen billion dollars the first month we were in office Iran's military spending went down ten percent and then this year it's going down twenty eight percent we also have Iran's proxies Hezbollah and Hamas and the who thieves in Yemen are weaker today financially then when when when two years ago when we took office and so this economic pressure is it is a necessary component if you want to get your run back to the negotiating table you want them back to the negotiating table but is it correct that you're you're nowhere near collapsing the regime from the reports that we hear the economy is bad to Ron but it's not as bad as Venezuela and Venezuela's review met and fallen so do you expect Iran's government to fall any time soon well our focus is on changing Iran's behavior and we are driving up the cost of Iran's foreign policy and if you look at the period from two thousand seven to about twenty seventeen the Iranian regime was able to run an expansionist and violent foreign policy around the Middle East and soaking sectarian grievances weaponize sing these grievances and you think that they're less able to do that today whether they ever changing policy we know they are you have had admissions from the leader of Hezbollah who has had to make public appeals for charity in March which is the first time that's happened in Hezbollah's history one of the thing I want to ask about is you know Brian hawk Europeans who are still in this nuclear deal with Iran have been setting up a special financial institution to make it more possible to sell food and medicine to Iran does the United States approve of that we're out of the deal the Europeans have said they want to set up there trying to set up what you described as a special purpose financial vehicle it's clear that it will only be used for Lissette purposes and the United States exams from our sanctions on Iran food medicine medical devices agricultural products and in as long as it's limited to that we're fine with that but we will sanction any sanction double behavior and I think everybody understands that but at the same time we're seeing no corporate demand for using a special purpose vehicle you're not sure that it's going to have much effect Brian see it having any effect Brian hook of the US state department
Bloomberg Intelligence
United Technologies, Raytheon And One Hundred Fourteen Billion Dollars discussed on Bloomberg Intelligence
"United Technologies and Raytheon are in merger talks this deal, I should say would create a aerospace and defense industry giant United Technologies has a market valuation of about one hundred fourteen billion dollars Raytheon is valued at about fifty two