18 Burst results for "Greg Sullivan"

"greg sullivan" Discussed on WBSM 1420

WBSM 1420

03:45 min | 1 year ago

"greg sullivan" Discussed on WBSM 1420

"Love from the Matthews Brothers Studios. 844 542 42 917. Please don't let this issue distract you from covering the impeachment. If people do receive an education, they may become smart enough to know they're being lied to Covering this. This quote unquote trialist like covering a professional wrestling match. You know, I mean, it requires a suspension of this belief that I'm really not not willing toe waste my time or your time on. Maybe we'll get to it later on when they actually produced the other side of the story, But I'm not. I'm not gonna let this all the time the personal side of the story. Oh, the personal side and start O a O. C. She was. She was so concerned she was worried She wasn't even in the capital, but she was so worried. Oh, Mike, You're next with Howie Carr. Go ahead, Mike. Hey, how we was wondering if you what you thought of the possibility that since they chased everyone off the MB ta and all the train lines and they estimated the economy This is the only way we're going to get people back on the trains, and the bus is raising tax rates. I'm thinking the long game. I'm maybe I'm giving him too much credit for chest. But that's what that's one theory. This guy, this guy drifting Dave used to work for the Conservation Law Foundation, and they they're demanding that the all the service cuts of the of the MB ta be restored. But Mike, why should they restore all these empty trains? The commuter rail is only running at 10 under 10% capacity, the subway lines, rapid transit or running it like 60 to 75% down the Busses or are 50% down. Why should they restore all these lines? You know what it is? It's just It's just a big welfare program for the people who work on the M P T. A Get news for him all the community from New Hampshire. There. There is going to stay here and a lot of Massachusetts people coming up and becoming New Hampshire rights because they seen that they've seen the writing on the wall, and they they leave him before the wall falls on him, So I think that They're headed for a massive collapse because office buildings everything. They're gonna be empty for a while, particularly if they if they don't wake up and smell the coffee. I not have done that and coming down coming down the road. You know beyond this, you know, turn the screws on him with the end and break their will with this dump more than doubling of the gasoline tax that Charlie Parker's dreaming up. They're gonna talk about this. The so called millionaire's tax. They're going to raise that the income tax from 5% to 9% supposedly only on millionaires, but it's gonna be on everybody ultimately, and that's going to lead to another massive exodus of taxpayers there. The Pioneer Institute study that we had Greg Sullivan on the former inspector general to discuss last week. In the past few years, they've lost $20 billion in income. Just Leaving the state 46% went of that 20 billion with the Florida and 26% went to New Hampshire. And the rest went toe. Main North Carolina, Tennessee, Texas, Mainly places that don't have an income tax. Thanks for the call Mike session. You're next with Howie Carr Go ahead session. Yeah, honey, I can You hear me? Ok? Yes. Okay, Hurry. I I've been to the Super Bowl. I visited Tampa yesterday. Came back here on discussion..

Mike Howie Carr New Hampshire wrestling Matthews Brothers Studios. Tampa Conservation Law Foundation Pioneer Institute Massachusetts Dave Charlie Parker Greg Sullivan North Carolina Florida Tennessee Texas
"greg sullivan" Discussed on WBSM 1420

WBSM 1420

02:32 min | 1 year ago

"greg sullivan" Discussed on WBSM 1420

"Wealthy migrate from high tax states that is the title of a new report. From the Pioneer Institute here in Austin and The question sort of answers itself, doesn't it? Of course, they migrate from high tax states. Wealthy residents and businesses are Fleeing Massachusetts at a troubling rate and exodus that could grow now that working remotely is gaining widespread acceptance, and this report was authored by Greg Sullivan. He's the former inspector general of the state and also a former state representative in a while back, and he wrote this and it Z pretty pretty interesting stuff. I mean, we all kind of know it's true. And, uh, I don't. I don't consider myself a a plutocrat. But I'm trying to get the hell out of out of Massachusetts. And it's gonna get worse if they passed this so called millionaire's tax. Which is always attacks that's initially put Placed on people making over a million dollars, but you know they'll try to people will try to get under a million dollars just like they'll try to get under $50 million in net assets. If Elizabeth Warren's wealth tax wherever Imposed, God forbid, So Joining us now on the line is Greg Sullivan, the former inspector general, the director of research at the Pioneer Institute, Greg Thanks for being with us here on the Howie Carr Show. Thanks. Hi, we It's great to be on So how? How how big of a problem is this now and how big of a problem is it going to be if they passed this so called Millionaire's tax If they passed the TC I tax to quadruple urge or triple the A tax on gasoline. I mean, everything. Everything that Beacon Hill seems to be interested in doing is going to drive anybody out of the state who can afford to get out, isn't it? Yes, Then, if you if you look at the data that's published by the Internal Revenue Service and the Census Bureau in Washington about, um high income people moving out of states in moving into states, Massachusetts is in the losing end different They're in the top 10 worst. States.

Greg Sullivan Massachusetts Pioneer Institute Beacon Hill Internal Revenue Service Howie Carr Elizabeth Warren state representative Austin Census Bureau Washington director of research
"greg sullivan" Discussed on KOA 850 AM

KOA 850 AM

06:11 min | 1 year ago

"greg sullivan" Discussed on KOA 850 AM

"Oh, good too. Valinda capital dot com. Hello, gentlemen. How you doing today? We are quite well. How are you? Wonderful. Good. I'm doing good. I'm always better when I get to talk to you guys, right? Scored well see mutual mutual love. So wanted to start off talking about lotteries OK in the concept of dividing conquer, because that's kind of going to be the theme today. So when you think about a lottery, you think about this big payoff right? Most people don't play the lottery unless the jackpot is close to what a $1,000,000,000 right, But there's also a lot of smaller lottery games and Jerry and Marge Selby, a retired couple in Michigan, and so they realized load the smaller lottery games. If we play those consistently statistically, by buying a lot of tickets, we could almost guarantee a win. So that was their strategy. They did that and over a period of years they cleared $8 million in winnings. Just by doing that. That's the truth. Now. Lottery officials suspected they were cheating, obviously because they were starting to all these winnings. But Inspector Greg Sullivan told 60 minutes that Jerry and Marge were just really good at math. I was dumbfounded Lee amazed that these math nerd geniuses had found a way legally to win a state lottery and make millions from it again. $8 million. Now I'm just going to call you guys math nerd geniuses as well. But but but it's me that story. Just they, You know, most people are looking for the again the big win, and these two decided to look elsewhere and stop wasting everybody's doing that. And they may not know much about the lottery. They just want this big payout with little effort where we because we're smarter. Can look at these smaller things and actually find a way to have a better result. And so I to me it would seem that when you're not playing the lottery when you're talking about your finances when you thought about retirement, just making sure you divide and conquer. Look at all the pieces. I would think that that means that you're gonna have a better retirement, as opposed to just thinking one big payouts gonna happen that you don't have a plan for Certainly the instance of being that good at math or winning the lottery is like getting hit by lightning, so I don't know if that's that's Ah, great way to be planning for your retirement future. What I would say is what what you're alluding to, and actually. When we talk about what my wife's tip is right? We've got tips from their wives later on. If you're new to the show, it'll it'll all dovetail beautifully to guess a way like themes around here. Wei have anything I like about that, though, is they got creative. They thought outside the box. They leaned on their own respective strength. And they said, Look, we can get serious and we could probably be pretty good at this, but they were intentional. And they put the effort in to figure out what that actually means. And that can translate into anybody listening. Yeah, you might not get $8 million worth of a windfall over, you know, But what if we can make a $1,000,000 difference to you? Just by doing things differently than you're doing? Now. I mean, I love Chelsea. She has said. Well, it's kind of like a treasure map. Almost you just follow the steps and you do these things systematically, and you're smart about what you're doing. Look at where you could go look at this treasure chest that you can uncover and do whatever you want again within reason moving forward in your life. Well, it's funny that I this week. I was teaching my five year old The lesson of the tortoise and the hare like I read it to him for the first time because he was doing something that he was trying to get it over with. He was being erratic. He was being fast. He was begin to trying to just rush through something. And teaching would be slow and steady and slow and steady wins the race. And so he really connected with that story and understood. Oh, you gotta be like eternally don't be like a rabbit. And so same here. I mean, the concept we learn in five years old is really the same. Moving forward is like if you have patience, and you just stop and breathe and just slow, instead, E and get advice like from Mike and Colby and have somebody in your corner That's helping you through these things. You will have a better future than you would if you weren't paying any attention. Just try to rush through these decisions and just made some terrible mistakes. Here's the thing specific to exactly what you're saying. People were so conditioned to live in the moment. And not really look into the future. I mean, how many people plan to spend a lot more time planning their next vacation than actually looking out into the future? So there's people that walk out a Starbucks because it's going to take five minutes instead of 30 seconds, so I do know, in a blink of an eye. I was 20 and now I'm 58 in a blink of an eye, So I'm there in the blink of an eye. I'm going to be 75. It'll just go that fast. So if you look at your plan now, and we're looking at it fairly regularly, we can make it. It will not only can we will make a difference, and there's a lot of easy things that we've seen. You can implement toe where if you just put your head down, you build your money up systematically with purpose, little by little every day. And it's something that you might not have to put a lot of thought into. Because you know you have a plan, and it's an automatic process. We do that a lot here because this is what we say. Put some barriers between yourself and your money. Yeah, you can get that money. But maybe if you have to go through two or three avenues to get there, you might not pull it out to make a foolish decision or whatever it would be. But we see this literally with For one case, we have a lot of for one K plans. We are for Deco fiduciaries on, so we have very good reason to make sure that they're set up properly. But one of the things that we tell people is hay for one case are part of your strategy. Not your soul Strategy number one. But they're beautiful because you Khun systematically build a very nice war. Chest up overtime versus looking up at 55 going Oh, I better dump as much as I can to afford one. The other thing that we've seen right people tryto lump sum. And then what happens? Black swan covert events and there Retirement is not even in their mind anymore because of a decision like that one as speaking for one case, Alright since you mentioned it..

Marge Selby Jerry Starbucks Inspector Greg Sullivan Khun Chelsea Lee Wei Michigan Mike Colby
"greg sullivan" Discussed on KOA 850 AM

KOA 850 AM

08:26 min | 1 year ago

"greg sullivan" Discussed on KOA 850 AM

"30396396 for Oh, good valente capital dot com. Hello, gentlemen. How you doing today? We are quite well. How are you? Wonderful. Good. I'm doing good. I'm always better when I get to talk to you guys, right? Scored well see mutual mutual love. So wanted to start off talking about lotteries OK in the concept of dividing conquer, because that's kind of going to be the theme today. So when you think about a lottery, you think about this big payoff right? Most people don't play the lottery unless the jackpot is close to what a $1,000,000,000 right, But there's also a lot of smaller lottery games, and Jerry and Marge Selby, a retired couple in Michigan, and so they realized load the smaller lottery games. If we play those consistently Statistically. By buying a lot of tickets. We could almost guarantee a win. So that was their strategy. They did that and over a period of years they cleared $8 million in winnings. Just by doing that. That's the truth. Now. Lottery officials suspected they were cheating, obviously because they were starting to all these winnings. But Inspector Greg Sullivan told 60 minutes that Jerry and Marge were just really good at math. I was dumbfounded. Lee amazed that These math nerd geniuses had found a way legally to win a state lottery and make millions from it again. $8 million. Now I'm just going to call you guys math nerd geniuses. A swell but but it goes, But to me that story, just they, You know, most people are looking for the again the big win. And these two decided to look elsewhere and stop wasting everybody's doing that, and they may not know much about the lottery. They just want this big payout with little effort where we because we're smarter can look at these smaller things and actually find a way. To have a better result. And so I to me it would seem that when you're not playing the lottery when you're talking about your finances when you talk about retirement, just making sure you divide and conquer. Look at all the pieces. I would think that that means that you're gonna have a better retirement, as opposed to just thinking one big payouts gonna happen that you don't have a plan for well, certainly the instance of being that good at math or winning the lottery. Is like getting hit by lightning, so I don't know if that's that's Ah, great way to be planning for your retirement future. What I would say is what what you're alluding to, and actually. When we talk about what my wife's tip is right? We've got tips from their wives later on. If you're new to the show, it'll it'll all dovetail beautifully together. Say we away like themes around here. Wei have anything I like about that, though, is they got creative. They thought outside the box. They leaned on their own respective strength. And they said, Look, we can get serious and we could probably be pretty good at this, but they were intentional. And they put the effort in to figure out what that actually means. And that can translate into anybody listening. Yeah, you might not get $8 million worth of a windfall over, you know, But what if we can make a $1,000,000 difference to you? Just by doing things differently than Or doing now. I mean, I love Chelsea. She has said. Well, it's kind of like a treasure map. Almost you just follow the steps and you do these things systematically, and you're smart about what you're doing. Look at where you can go look at this treasure chest that you can uncover and do whatever you want again within reason moving forward in your life. Well, it's funny that I this week. I was teaching my five year old The lesson of the tortoise and the hare like I read it to him for the first time because he was doing something that he was trying to get it over with. He was being erratic. He was being fast. He was begin to trying to just rush through something. And teaching would be slow and steady and slow and steady wins the race. And so he really connected with that story and understood. Oh, you gotta be like eternally don't be like a rabbit. And so same here. I mean, the concept we learn of five years old is really the same. Moving forward is like if you have patience, and you just stop and breathe. And just slow and steady and get advice like from Mike and Colby and have somebody in your corner That's helping you through these things. You will have a better future than you would if you weren't paying any attention. Just try to rush through these decisions and just made some terrible mistakes. Here's the thing specific to exactly what you're saying. People were so conditioned to live in the moment. And not really look into the future. I mean, how many people plan to spend a lot more time planning their next vacation, then actually looking out into the future, So there's people that walk out a Starbucks because it's going to take five minutes instead of 30 seconds. Ryan so I do know, in a blink of an eye. I was 20 and now I'm 58 in a blink of an eye, So I'm there in the blink of an eye. I'm going to be 75. It'll just go that fast. So if you look at your plan now, and we're looking at it fairly regularly, we can make it. It will not only can we will make a difference, and there's a lot of easy things that we've seen. You can implement toe where if you just put your head down, you build your money up systematically with purpose, little by little every day. And it's something that you might not have to put a lot of thought into. Because you know you have a plan, and it's an automatic process. We do that a lot here because this is what we say. Put some barriers between yourself and your money. Yeah, you can get that money. But maybe if you have to go through two or three avenues to get there, you might not pull it out to make a foolish decision or whatever it would be. But we see this literally with For one case, we have a lot of for one K plans. We are for Deco fiduciaries on, so we have very good reason to make sure that they're set up properly. But one of the things that we tell people is hay for one case are part of your strategy. Not your soul Strategy number one. But they're beautiful because you Khun systematically build a very nice war. Chest up Overtime versus looking up at 55 going. Oh, I better dump as much as I can to a 401 K and The other thing that we've seen right people tryto lump sum. And then what happens? Black swan covert events and there Retirement is not even in their mind anymore because of a decision like that one as speaking for one case, Alright since you mentioned it. I want to bring this up because if if I asked the audience, Ali, do you know where your fora one K is most people if it's a current for a one K with the current employer. I could answer that question. More than likely they would know where it is how they could access the information. But do you know where all of your for A one case are an I N G direct estimates that about half of workers okay, half of workers whose changed jobs and most of us have changed jobs in our lives. Have left behind in a previous employers plan. They've left money behind. So in your experience with working with 41 case on an individual basis do you find there are people Who have left for on Kay's with their previous employer and didn't roll it over didn't change it. And is that a good idea? Well, first happens all the time. You're absolutely correct. I'm even Shocked at the 50% did you say 50%? Yes. So you're shocked that there's 50% of people that have actually done something about it. You know when we build And analyzed for own case one of the areas not not the primary, but you know, one of the areas that we look at is Pushing the fees and the internal costs down as much as humanly possible. But the reason that we're that we're in demand for Helping people with the 401 case is a lot of outside plants have really high expenses because different layers, So if you kept money over in one that maybe they're not looking at it as close as we do. Uh, that's gonna cost you overtime. Not to mention the fact that you know if you should be looking at things and bringing those and consolidating those into your plan, anyway, if if it's an IRA rollover or putting it into your next four old gate with your current Employer and the other thing that you see is you leave on employer five years ago, 10 years ago, you leave that money in there, and we often see it's just out of sight. Out of mind. Oh, yeah, I think I do have.

Marge Selby Jerry Starbucks Inspector Greg Sullivan Chelsea Lee Wei Kay Michigan Khun Ryan Ali Mike Colby
"greg sullivan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

03:41 min | 1 year ago

"greg sullivan" Discussed on WBZ NewsRadio 1030

"In Quincy there is help in the form of grants for small businesses in the city the Americans he was joined by congressman Stephen Lynch to make the announcement on Thursday WBZ's Carl Stevens reports Quincy is home to a lot of small businesses about still with a few employees that just live on the Aaron come they're hurting right now they're hurting like so many others because of the virus related closings that's why mayor Thomas Kok said he was pleased to announce this new grant program with money coming from the federal cares act so this grant program that was challenging will provide small grants up to ten thousand dollars per to assist his system to hopefully keep them moving so they'll be able to re open applications will be accepted online to may fifteenth it has to be a small business and the mayor stressed grants will not be awarded on a first come first serve basis Carl Stevens WBZ Boston news radio thirty million Americans have now filed for unemployment here in the bay state over seventy thousand new claims filed in the last week bringing the Commonwealth's total to over seven hundred thousand since mid March WBZ TV's Michael across has more on how people are navigating the process getting it was a little difficult Helen Sullivan was laid off from her job in the restaurant industry around mid March and file for unemployment right away she's received her money and is now helping friends and colleagues work through the application process it may take a little time but it will show up Massachusetts reported that another seventy thousand people file for unemployment last week since the corona virus more than nine hundred thousand people including gig workers have lost their jobs in the last six weeks twenty four percent of the Massachusetts should million workforce has filed for unemployment Massachusetts Greg Sullivan is with the Boston based think tank pioneer institute he's been tracking Massachusetts unemployment during the pandemic and how the state is reacting to the increased demand in my opinion even though people might may be very frustrated I I give them high marks for adjusting to this level increased Greg Sullivan says people should be persistent and keep in touch with the unemployment office once you get through to the right people there are very helpful they're training for unemployed wedding photographer Lisa Rigby being persistent worked she found out Wednesday her money is on the way to your bank this is huge this means that I will pay my bills on time and it's a huge just one less extracting rock with me Greg Sullivan with the pointer institute recommends that people reach out to their state representative to try to get some more traction on their case the checker sports traffic and weather coming up next this is a Bloomberg money minute stocks head into the Friday session with modest gains for the week but the market is coming off a down day after the government reported another three point eight million first time claims for unemployment benefits filed last week chief economist Charles Dumas at TS Lombard thinks the market's recovery it's gotten ahead of itself it's only if you think this session is going to be replaced by a huge bounce back that you can possibly justify that kind of pricing with seeing in the market and I don't think you can expect a huge bounce back more dismal economic data is expected today is the nation's purchasing managers report on April manufacturing a sharp pullback is expected a government report on March construction spending is also forecast to show weakness workers from Amazon whole foods Instacart Walmart target and fed ex or expected to walk off the job today to.

Quincy
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:43 min | 2 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"We have Japan out of action of course today for a public holiday that we have been seeing some pretty positive action coming through in other Asian equity markets today after some slight gains on Wall Street the South Korea KOSPI up two point two percent to the A. six hundred up two point seven percent use deland just in the red at the moment slightly will the amount of distress dish in the U. S. has doubled to half a trillion dollars this is oil prices have collapsed in the corona viruses spread as a global recession looms there's a good chance that more more corporations could end up in the same position much of it comes from U. S. energy companies that have been pummeled by the price will between Saudi Arabia and Russia one of the biggest casualties has been Occidental petroleum which has seen its funding costs skyrocket at its credit rating cut to junk will AT and T. is in discussions with banks for a new term line of roughly three billion dollars this is the company navigates rising costs it has the highest debt load of any non financial company in the U. S. it has about a hundred and sixty three billion dollars of debt at the end of twenty nineteen does low will suspend production at its loan at U. S. assembly plant in Fremont California the decision was announced in a statement after several days of public pressure by local police and city manages to solicit the facility will stop production on March the twenty third Netflix has agreed to reduce its streaming traffic in Europe by about twenty five percent next month this to relieve networks strained by the corona virus the amount of time people spend streaming spiked by more than twenty percent worldwide last week including more than forty percent in Austria and Spain has seen a drop in ridership since the spread of the coronavirus is CEO Dara Khosrowshahi told Bloomberg the company has the ability to withstand potential financial losses might return unlike returns essentially overturn instantly in Hong Kong we've got people going back to work N. as they go back to work commuters etcetera start using our services as they always have and I think if we assume that the health authorities the cities the governors the president's all over the world are making the hard decisions and the necessary moves to control the virus then eventually like we'll come back and we'll be right back when people start going back to work they're gonna start using uber we are all looking forward to life coming back that was a bit CEO Dara Khosrowshahi speaking earlier with Bloomberg's Emily Chang well a second pet dog in Hong Kong has tested positive for the carpet nineteen virus this after its owner was confirmed as being infected the case comes after a seventeen year old Pomeranian tested weak positive during repeated tests for the virus and that dog died two days after it was released from quarantine let's get all the latest in market action with Bloomberg's bronchitis in Hong Kong Brian yes we have a number of things stacked up against us Julia today if you're long these market so one is it's a Friday and that always makes it tough particularly in these tumultuous times of late to also it's end of quarter so you've got a lot of futures expiry that will be looked at options expiry that we probably markets up and you've got a very strong dollar as a blooming dollar spot index is up again twelve hundred ninety two suppression thirteen hundred really just some amazing levels here Dalian one eleven seventeen we've got the offshore Chinese currency at seven fifteen fifty five getting pretty close to the seven nineteen sixty five we saw last year after the high for the year we did hear from Chinese premier Li could Chung though he said that most of Chinese low risk now and should be getting back to normal so if that is a model for other economies so we might see that but with the death toll from mounting in Italy and with the number of infections in both the US and Europe spiking it seems like it may be a little too early to call so let's run through some of the numbers Sir right now we've got the ASX two hundred up two point nine percent we've got the cost be and soul is trading up about two point one percent here S. and P. five hundred email he's though down one point four percent I will say that they are off the worst levels of the day improving a little bit here and it'll be interesting to see how the China markets open up we've got to an hour to go before that happens in China futures are up about nine tenths of a percent hang Seng index futures up one point six percent so pretty interesting day jewels back to you thank you Brian U. S. president Donald Trump again today pointing a finger towards China regarding blame of letting the corona virus spread globally at Baxter has the story included nine sixty San Francisco newsroom at yeah that's right did you leave Mr trump stopped short of directly blame boomers Greg Sullivan says the message was direct.

Japan
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:20 min | 2 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"Good morning I'm Nathan Hager and I'm here in Moscow U. S. futures are lower following yesterday's record highs for the S. and P. five hundred were coming up to five oh one on Wall Street and we check the markets every fifteen minutes throughout the trading day on Bloomberg S. and P. futures down four and a half points Dow futures down forty nasdaq futures down twenty the dachshund Germany's down a tenth of a percent tank in Paris down almost the same and if it's the one hundred up a third of a percent make it to twenty five in Japan gained a tenth of a percent of the hang sang in Hong Kong jump to one point two percent ten year treasury up for thirty seconds the yield to percent yield on the two year one point seven six percent NYMEX crude oil down a third of a percent or twenty one cents at fifty eight eighty seven a barrel go make school that half percent or six dollars seventy cents at thirteen ninety six announce the euro one point one two nine three against the dollar the yen went away for two for Nathan Karen we begin with trade tensions ramping up between the US and Europe the US is adding four billion dollars worth of EQ goods to a listed could hit with terrorists as part of a long running dispute between Boeing and Airbus we get the very latest from Greg Sullivan in the Bloomberg ninety nine one Washington newsroom at seven ministrations again ratcheting up pressure on the E. U. over subsidies to their aircraft manufacturer the E. U. in the US have a history of fighting over their aircraft manufacturers have been locked in this fourteen year WTO disagreement accusing each other of illegally stuff says the aircraft manufacture so this does seem to be the latest twist and turn in this products that could be hit with levees range from meat and cheese to whiskey and iron the E. U. has a similar case pending against Boeing and has ready retaliatory tariffs of its own on the trade front but showing up president trump says a new round of negotiations is already under way this became very much involved with the roles of meeting yeah it's essentially already because it actually began before a meeting and today China announced plans to remove foreign ownership limits on financial companies saying it will allow full foreign ownership of firms beginning next year authorities have so far approved plans by UBS no moral and JP Morgan to take majority stakes in local ventures meanwhile in Hong Kong it has been a tense day after a long night of protest vandalism and tear gas chief executive Carrie lam used a predawn news conference to condemn the destruction of Hong Kong's Legislative Council building this is.

Hong Kong Legislative Council Carrie lam chief executive JP Morgan president WTO Washington Bloomberg NYMEX Moscow vandalism Nathan Hager China trump E. U. Greg Sullivan
"greg sullivan" Discussed on Boston Herald Radio

Boston Herald Radio

07:02 min | 2 years ago

"greg sullivan" Discussed on Boston Herald Radio

"Yeah. I've talked to a lot of folks who have very high opinion of mighty men and the job that he's done. And I, I have no in Boston to shame of pioneer institute where we're public policy institute very interested in education trying to schools, high red. And we just looking at the plane faxing, you know. What is this, a stain -able for a for a university system to go through this massive expansion at this time, you know, and they and I think that kind of the chickens have come home to roost. Because the financial pressures coming on the university now because I don't think it's a stain -able. Yeah. They're going to have to do something about that. Definitely. Are you? I'm not sure if this is your area of expertise, but the legislature did something recently that was pretty troubling to me when it comes to charter schools, they blocked. A New Bedford charter school. From expanding into a new building. They wanted to wanted to shift to a new campus. There's an old public school building, I think, and legislature blocked it from even from them even trying to do it. And the way they did. It was too, you know, procedural roadblocks put up see roadblocks legislature. So it wouldn't even come for a vote were you guys following that or? Phone, very, very carefully. Yeah. Pyner institute with was one of the leading groups kinda advocating for products cools. In fact, at pioneers, to one of my qualities, working here is Tom Birmingham, used to be the Senate president. He wasn't. He was one of the agents. So the education reform act that led to an casts and try to school. So with you know that try to school that you're talking about into Bedford is fantastic charter school. I mean it is it's famously good and the waiting list to get into. It is gigantic. You have to win a lottery to get into it and the, the mayor down there who who was. I think he's a Harvard grad, he's a. Originally. He was he was very few of in his praise for this particular school. But then at the end of the day, you know, it's, it's like the, you know, collective bargaining labor the teacher's union, so and so forth death against charter school. So to me, it's not. Right. You know, I mean these inner city kids in bed for those kids are up against it, especially young coming up fourteen fifteen years old. It's tough world. And so if there's an opportunity for, for family to send their kid to a school that's rank high in the state, it's like a little gym right in their backyard. I don't get why they're shutting down. It's like shooting yourself in the foot. It's terrible. You concern about the way the legislature went about it to not even to allow vote basically blocking it from even coming up. Well, you know, I, I served in the state legislature for seventeen years. Yeah. And it doesn't surprise me that the legislature would do that because they've been they've been like a, you know, an eye in curtain against charter schools, because there's so much political pressure by teachers, not to not Acilitator it. And if but back in the day in the time that, like if president Birmingham the Mark Roosevelt, and those people, you know, these are urban liberals, they, they were urban liberals, but they, but they would twenty to find a way to have people live in inner cities, like Brockton, you know, Lawrence New Bedford, Springfield, Lawrence, Lowell chicopee that we're the school systems are really rough to give the parents and the kids chance to go to a good school. I mean they saw in that view and it's really too bad that the leadership is not. There people rise up like we had back in the day. Yeah. They instead they have people seemingly do what the unions want them to do. This is not to say that charter schools, and they don't. They're I'm sure they're bad charter schools, as well as good ones. But, you know, it just seemed like the way they did it. That was a little sneaky, the legislature, did it because they knew the time frame, they knew the timeframe of that, that, that they could delay. And they just kept delaying delaying it till they couldn't do it anymore. And what they wanted to do was to go away from a lottery system. Is that correct? The school wanted to go away from the lottery and do like more of a local school choice gotta thing, right? That's right. You know, we down in New York, there's a, there's a city councillor down, who, who retired and she started about ten charter schools in New York. And they were really, really. She's an African Americans. The constituency student body was almost all of them African American Hispanic and they were like you know, is ranked in the top one percent of all the city schools in the city did the same thing. They said no, they, they block them from a new facility. They victim from the facility all the pressure came on it. But man, but there was a March on Sydney hall, and they think they sent like two hundred buses full of people up to Albany in New York fight it. You know what I'm saying is, I wish people would down in New Bedford in the state would rise up and say, hey, you know, why are you depriving families of this opportunity? It's just not. Right. It's I think it's very unfair and unwise. Right. Well, Greg, I want to thank you very much for joining us here on bat and the pioneer institute you guys do a great job over there covering various issues and holding holding government accountable. Well, we feel the same way about you Joe and you're a great coverage of national in state. It's really fabulous. Thanks. I really appreciate it. Thanks. Okay. Greg Sullivan from the pioneer is we're gonna take a quick break. Don't forget, six seven two eight six five six three three. If you want to weigh in, if you wanna weigh on any topic at all we're going to be switching a little, the politics, six one seven two. Eight six five six three three our text. We'll be right back. Herald.

legislature New Bedford charter school pioneer institute New York Greg Sullivan president New Bedford Bedford Tom Birmingham Pyner institute Boston Harvard public policy institute Lawrence New Bedford Senate Mark Roosevelt Brockton Sydney hall
"greg sullivan" Discussed on Boston Herald Radio

Boston Herald Radio

15:04 min | 2 years ago

"greg sullivan" Discussed on Boston Herald Radio

"To be happy to read them on the air. But we're going to start off with a little different twist instead of politics, where well, there is actually politics involved in this, but. We're gonna be talking about the university of Massachusetts and financial situation. What's going on there? There's some crazy stuff happening there. And join us now to talk about that is the pioneer institute's research director, Greg Sullivan. Greg, thanks very much for being here on baton feld. Thanks for having me go before I talk about you masking. We've had a derailment on the NBA this is the second in the last four days is this is this concern. You guys that it's part of any larger problem with the with old equipment or, or just, you know in bad management. Yeah. You know that's a great question. You know Steve pop tax new, general manager of he made an announcement of couple of weeks ago in which he said that he had serious doubts that the NBA TA will be successful and been able to complete its capital plan, which is to upgrade, and modernize. The red line is one of the components. So the, the, the many critics have pointed out that the NBA TA historically has been has had a very bad record of, of designing procuring and constructing of projects, including ones that are used to maintain the Redline, your red line, the red lines like the workhorse of the NBA, the most successful wine in terms of number of, lighters, per dollar spent at cetera. But it's become a source of never ending frustration for writers on the red line because of breakdowns and trying to fix that with a two billion dollar project. That's can supposed to be completed by twenty twenty four. Yeah. I'm not sure if this is an old train or newer train, or whatever that, that derail, but it's obviously, creating huge traffic mess again in the city of Boston just new, we're here in Braintree. And I was driving down route three north was ninety three was. A complete mess. Coming up here. People having trouble getting on. You know, deciding not to take the train one of my colleagues told me this morning, Jill that because they could take the red line they called Uber in their estimated cost was ninety dollars. Because the demand tragic what they wanted say, right? People are inconvenienced all over the place serious. This is serious issue in this town in the Democrats are going to town already blaming Charlie Paker for this. But I'm not sure how much blame Baker should get for it, but it's obviously become a huge political issue as well. But I didn't realize that they, they hadn't, they had said that, about the capital plan that they weren't going to be ready even for their own capital in the Boston chamber of commerce put out a thing in April, basically saying that the capital, plenty of the t-, despite bakers. Governor bakers initiatives is so out of control that they recommending that it'd be the that they put under the control of another agency of government or to outsource. So the team's got a big problem gonna replace. There's a lot of exciting things happen on the redlining orange line completely replace. All the cars, they're gonna put new signals in so that they can have only three minute headway between runs of able to move more than forty percent, more people. But all this is in, in progress and right now, they're running on equipment, that's, you know, thirty forty years old. So, you know, it's, it's a mess. Well, let's see if there was speaking of a mess, we can shift over to you mass what's going on there. Umass Boston, obviously, has huge financial problems came to light recently. They claim they had a thirty billion thirty million dollar deficit. But actuality you guys that a lot of research on this and found out, it was something else besides what they said. Right. Yeah. We should report a couple of weeks ago. And it was a really indepth investigation of what happened you mass Boston. So the cover story that was told to the public is that the chancellor over there is names, Keith motley, was there for more than a decade. What's to blame for having brought about this unexpected thirty million dollars deficit, and we should report? That's that winning using documents from UMass in from the United States Department of education. It's cetera basically showing that the fault of what happened there at UMass Boston would fall squarely on the. So that's, that's the bottom line. Yeah. And what you call for an audit f- after that report, you called for a separate audit for UMass to do and also a meeting to go over this with UMass. You've you've offered to sit down with them. But they obviously they rejected it right. Yeah. In other words, we well, what, what we said, was look, the record is very clear with, with two years. Hindsight, retrospective to look back to what happens. You know, the universities are required to file these financial statements under pains and penalties of perjury with the state's department nation. So kind of you could tell the story in the day when the things going down. But over the next two years, all the details were released. They didn't they never had a thirty million dollars. They had a one point two million dollars deficit, which is relatively very small. Income comparisons? They hold the budget in, you know, had to do with a, a very interesting thing that happens. So you, you mass for all of its history, Joe always. Never built any any facilities academic facilities on its own. They always all funded by the state, and the, the only thing they were building with dorms parking garages bookstores cafeterias, self-funded facilities. That's what they do with the state colleges, too. But, but you mask a frustrated because the legislature wasn't giving them money, so they decided the kind of kind of went rogue and on all five campuses, but you mass Boston, especially they took on at one point two billion dollar capital expansion on the campus. But the state was only kicking in about twenty million of about two hundred million about, you know, but one six of it, the rest had to come out of tuitions and fees, and so forth. And our conclusion is that all of these plans would were. Done by the president and the trustees. Campuses can't spend any money in the Rhone. It's all done through the central office. So we said, so what we said, is that when they kind of went solo? It's lying the plane on automatic pilot it central office. They lost track of how much money in a need a month by month as they went to this project. And that's, that's what caused the thirty million dollars so called budget deficit was really that they ran out of cash that they needed off budget to pay for these expansions. Why would they be trying to scapegoat? The former chancellor just to take pressure off them for making mistake or. Yeah. Yeah. I mean, the reason that they that the trustees in and the president. But the blame on Keith motley and his financial team is that they are not the trustees in the U mass president, there's somebody else. They put the blame on the administrators. But the record shows that they, they approved the projects. They, they estimated and calculated how much money would be on hand. It's called primary reserves. How much wasn't enough money? And, and we pointed on this report that what happened. There was a it was an enormous math era of sixty million dollars where the president's office estimated that the amount of cash that U mass Boston was going to have on hand for the capital plan was was ninety two million. When they wouldn't just a few months later, they collected to the board and said we were wrong we wrongly sixty million dollars. So, and that was the cause of, of the budget crisis. It was all it was all done by the folks, the brass at the top, and then they, they use them in our opinion. They used the people you. Boston as, as scapegoats in general. I mean how how how you found you massive as a general lack of accountability there. Well, I think that well, first of all, let me somebody say that, that you mass is doing very, very well. They, they've skyrocketed in the national rankings you mass in northeast of the superstars of terms of relative going up the US news World Report. They've had a lot of success. So this is denigrate a great university in, especially you. Mass, Boston has done very well with great. Great. Versity but but, but you mass you mass that you as you've written about many times in your in your columns you masses kinda different spear of the government. I mean, the amount of money that's paid for ministers is unbelievable. You know, I think when we should report the spokesperson for UMass criticized us and said we were against you mass, I looked at the salary you make sixty thousand more than the governor exactly like the, the payroll if you if you print out list of the top, I want this with a with a globe spotlight team. Interestingly for potential story I printed out the highest paid state employees. And in, in the list governor Baker showed up onto page twenty five and in the in the fun of it was filled up with UMass. Yeah. I mean UMass is like, you know. It's, it's the scale of pay for light kind positions. I don't I really don't mind if they hiring a Nobel prize winning physicist, which they have done at UMass in at UMass. But, but I, but I don't like, is that, you know, the people like, like, they're, they're director of af for the university of Massachusetts gets paid almost twice as much as the secretary of af for the whole state with. Everything's scaled up like fifty percent higher hundred percent higher. So I don't think that they've had a lot of accountability at U mass the kind of kind of view themselves, like in Toronto agency. Then they always complain when you know, they have a budget crisis, and they can't pay teachers or instructors or the tuition goes up every year pretty much. So, you know every time to ish. And goes up the salaries of these administrators go up as well. It doesn't make any sense. Yeah. The, you know, the, the salaries are about seventy percent of the budget that they like to like in. That's teachers, you're just regular schoolteachers their their salaries. Go up about two and a half percent. A year over the last ten years, but you mass, it's almost twice that rate, so you know it's just it's, it's different it's a different world. You know, at UMass. We wrote a paper I three papers couple of years ago, and we questioned whether it made sense for UMass to doing this massive expansion program. We are it's been predicted by by the federal government that the number of people kids graduating from high school, and has to choose a skin, the declined by about fourteen percent over the next twelve years. So he's saying we're the we're the customers. The expansion like building. And they will come. So they will hoping to get tons of kids coming in from other states in other countries. But since they expanded they haven't been able to do that, then the. The financial crisis because atypically they have taken an expansion, which none of the other state colleges or universities have done into England and the private schools haven't done, either a lot of them are striking actually because of the shrinking pool of applicants yell, especially the smaller liberal arts colleges and really under the squeeze like have with mount Ida in there, and that's another story. But, but, but there was a story, there was a story in high chronicle, tyrod location, saying is New England ready for the upcoming university crisis, and this about three years ago, and they said, look, you know, the, the population that graduates of these schools into England declining and you know, they're going to be facing tremendous financial pressure. You know, these these colleges are. The operating in such as thin, my jn for property loss that, you know, if you're if you're if you incoming clash ranks by one hundred fifty kids, you can put you wonder so, you know, the one a lot of schools are in tough shape. Yeah. Not to single out me in specifically. I mean, a lot of people think he's doing a good job as well. He's got a high profile job is former congressman he can he can fundraise pretty good. So, you know, that's and that's a big part of his job is to do fundraising, so record..

UMass Boston NBA president university of Massachusetts chancellor Keith motley Baker pioneer institute Greg Sullivan Boston chamber of commerce federal government Steve research director Braintree general manager Charlie Paker perjury
"greg sullivan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:40 min | 2 years ago

"greg sullivan" Discussed on WBZ NewsRadio 1030

"A seven-year, period, earning at least three and a half million dollars in profits almost the exact same rate of return as the Selby's you've got to syndicate, from northwest Michigan. You've got a group of MIT students did your story meter start beeping. It was always a great story. The Boston Globe articles caused a sensation raising suspicion that the game was rigged the Massachusetts state treasurer shut down the cash windfall game and called for an investigation. It was led by then state inspector general Greg Sullivan. When we get involved public perception, was the must be some kind of organized crime public corruption. To explain how millions of dollars of being bet by syndicates on state lottery. Tickets we really looked at this looking for corruption. We subpoenas. We looked at documents we interviewed dozens of people to get to look at this in detail with a hypothesis that something illegal had happened. You went into this looking for organized crime as the story unfolded were you surprised by what you found a wouldn't surprise. I was down founded -ly amazed that these math nerd, geniuses at found a way legally. To win a state lottery and make millions from getting rich in the process in the state could very richest one hundred twenty million dollars. The investigation found no one's odds of winning was affected by high volume Betty, when the jackpot hit the roll down threshold cash windfall became.

MIT Boston Globe Greg Sullivan treasurer Michigan Betty Massachusetts one hundred twenty million dol million dollars seven-year
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:16 min | 2 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"The euro one point one two. Four eight against the dollar and the yen one. Oh, eight point zero five. Nathan alright. Karen, thank you. The fed is in focus this morning as policymakers gather for a conference in Chicago, Saint Louis, fed president James Bullard is already effectively endorsing an interest rate cut, if we eased now we could help recenter inflation, expectations at the two percent. Target should be a good thing for fed credibility and for the credibility of our two percent target. It could also provide some insurance in case the downturn in global growth was more severe than we had previously expected varies growing conviction that the Federal Reserve will lower rates traders pricing in at least two quarter-point cuts by year end alerts comments gave an extra kick to the rally and treasury, sending two year Yeltsin their lowest levels, since 2017, we're off those lows now and Guggenheim chief investment officer, Scot minor. It says yields looked to have fallen too far indicators are showing this things are getting really over by this vicious. Down in yields that we've had over the last week is likely to get reverse sometime in the near term. But if the fed does lower rates, we could be in for a big cod with modern saying he'd expect a kind of at least seventy five basis points continue to point to recession in the first half of next year. And as much as I find that difficult to believe given the strength of the US economy history shows that when the economy turns down, it can do it very abruptly today's fed conference on policy strategy. We'll be closely washed beginning with opening remarks from chairman Jerome Powell, and we'll bring you that live on Bloomberg radio and television, just before ten AM Wall Street time returning to trade now looks like congress may step in to block President Trump's plan to tariffs on goods from Mexico. We get more live from Bloomberg's John Tucker. Good morning, John. Good morning, day source tells Bloomberg that Republican lawmakers are considering whether to revive a resolution of disapproval over the national emergency that underpins press. Trump's justification for the tariffs congress earlier this year passed a similar resolution. But the house didn't have enough votes to override the presidential veto. It could be different this time as fears are mounting over the economic impact of tariffs on imports from Mexico. John Tucker, Bloomberg daybreak. John, thank you on the trade front with China. The White House is pushing back against remarks from Beijing over the weekend. Greg Sullivan has details from our Bloomberg ninety nine one newsroom in Washington, the US doubling down in saying that recently released Chinese white paper on the trade negotiations seeks to misrepresent facts. The US says that China's engaged in a blame game doesn't bode well for meeting at the table anytime soon, there's no talk scheduled currently for the meantime, both sides appear to be doubling down Treasury Secretary Steven Mnuchin and Chinese officials are scheduled to attend a g twenty finance ministers gathering in Japan on a Friday, if they meet the first face-to-face talks negotiations broke down last month. While treasury yields gained in overnight trading yields in Asia fell stocks in the region. Also posted modest losses. Bloomberg's Yvonne man joins us from Hong Kong with details. Good morning, Yvonne, good morning. Nathan and Karen, Asian markets were shaky once again with no let up in mega tippety, the kospi were flat for the day. CSI three hundred was lower by nearly one percent in China. The story once again in the bond markets, which fitters now screaming for rate cuts. The RV delivered with their first rate cut in two and a half years. It was no surprise, though, markets moved only marginally with Ozzy tenure yield slightly lower and the ASX two hundred gained a fifth of one percent in Hong Kong. I'm Yvonne man Bloomberg daybreak. Have on. Thank you on the corporate front. It's all about the sell off in US tech shares a Facebook alphabet Amazon, Apple all fell yesterday as regulators and lawmakers in Washington. Target silicon valley's biggest companies Bloomberg's Charlie Pellett reports. Sources tell Bloomberg the Federal Trade Commission will take responsibility. For anti-trust probes of Facebook and Amazon, while the Justice department is set to open an investigation of alphabet schoogirl by parceling out antitrust oversight, the government has set the stage for formal inquiries, an escalated pressure on the companies amid increasing criticism that their practices are harming competition in digital markets. Charlie Pellett, Bloomberg daybreak and Charlie. Sources also tell us apple will receive scrutiny from the Justice department while the House Judiciary committee plans an investigation into whether digital platforms like Google and Amazon or harming competition. Scott Galloway is a professor at New York University stern school of business. You could have nothing happen here, and it wouldn't be much of a surprise based on the cadence of government action today. But it's definitely a flare across the bow regulation. Hasn't proven to be very effective, but anti-trust breaking these guys out in my view saw a lot of the problems overseeing tech shares rebound a bit this morning, Facebook, apple and alphabet all posting modest gains in early trading and other story. We're watching data out of. South Africa show. The economy contracted three point two percent in the first quarter, that's the biggest contraction in a decade, and has the South African ran re weaker by one percent this morning and straight ahead. We have the latest world and national news. This is Bloomberg..

Bloomberg John Tucker US Apple Federal Reserve Facebook Charlie Pellett China Nathan Mexico treasury congress Hong Kong Trump Karen president Washington Yvonne man Amazon Justice department
"greg sullivan" Discussed on WAFS Biz 1190

WAFS Biz 1190

07:37 min | 2 years ago

"greg sullivan" Discussed on WAFS Biz 1190

"Really juicing television advertising, revenues. I mean, look into quite some time they did set a deadline fully someone it seems that Jimmy company perceiving is the one, I talked with that stake around three hundred and forty million pounds, haven't actually specified, how much the deal will be with. But we think it'll be about that's a mountain ever. Okay. And finally, you're looking at Elliot group. So reducing its revenue outlook for the twenty nineteen fiscal year any impact on the shelves at this point. So we're seeing Elliot, I fully five percents today said is quite significant move to things. Again we're looking ace lease. They saying that the talian market is really struggling terms of catching, but I will say the competition, the sect is really, really intense you sit in front and company, they're really fighting on price as apples and also other translations looking back on the amount that contractors since really hurting the profit margins of these companies as saying Elliott sleeping around five cents thing is take sedan in front, then not djing around huff censorship thing they will be some read across for those competitors in Europe today. Yeah. Joe Easton stay that respect. We're also seeing some pressure of own the semi conductor. Stocks estimate crow in Finian, AMS, Olson of the worst performance on the stock. Six hundred also wanna bring you also Matale down seven percent the mo- since may twenty six seventeen off to its output. Cuts talking about a further cut in European production. So also miss towel Hsieh's taking a hit and Tim croup down two percent. Salzgitter also down more than three percent on the docks off to that news from also Mattel, So lots of interesting move Joe. You'll be joining us a bit later in the show as well to talk football. Yes. Looking that would be talking about light to KPMG league table of valuation clubs, and it's really took to figure pin funnels coming between. Chelsea also today and then live in them in the temple fun on Saturday to be really interesting. All right. Joey Ston see you soon. Thank you so much. Now let's tone to top stories. I mentioned a trade earlier in the mall cats. In terms of jitters around global bones del sweat, the US treasury department again, refrained from naming China occurrences manipulates. He is Bloomberg news, Washington. Greg Sullivan, one thing that was interesting just coming on the heels of last week's commerce action where they said that they. They would now place countervailing penalties on countries that subsidize their currencies or weaken their currency. So the administration is looking for ways to, to police the currency manipulation even if it won't be necessarily through treasury. Meanwhile, China is gearing up to us says a weapon in the US China trade will Bloomberg's Bryan Curtis has moved from home. Comb, state media published a number of pieces that included hints from the state planning agency, rare earths are used in high performance. Magnets. Catalysts, alloys electron IX and the defense industry than China's a dumb position. The people's daily said it's not hard to answer the question of whether China would use rare earths as a weapon in the trade war implicit in that is yes. China would you know, I'm Brian Curtis Bloomberg daybreak Europe and the WTO meeting in Geneva, China, accused the US of breaking WTO rules by cutting off access to American suppliers? It wound the move may damage the global. Trading system and urge the White House to quote immediately lift all unilateral sanction measures against Chinese companies. Meantime, hallway AllState, Texas, judge to rule the ban on federal agencies and contractors buying. It's unconstitutional now turn into Europe, EU leaders have gathered in Brussels to discuss who will be next to fill the blocks top jobs, differences, remediate the apparent between German Chancellor Angela Merkel and French president Emmanuel McComb the contest full president of the commission. Could open a major rift in the coming weeks, with Manfred Veba the center right's official candidate failing to gain traction in the UK the speaker of the house of Commons says parliament won't stand aside, let the country tumble out of e without deal. Joe MBA, coz comments come as some contenders to succeed. Theresa May have promised a fool's, a hard Brexit. But on the other side of the spectrum foreign secretary Jeremy hunt has wound that trying to leave with no deal would be political suicide in corporate news, CEO says he's interested in learning. More about the proposed merger between. Alliance partner Renault and Fiat Chrysler hero. Tosa says the tight may present open Unity's. He was speaking ahead of Wednesday's meeting of the board governing Nissan's current alliance with Renault and Mitsubishi under the terms of the proposal, Nissan, will gain voting rights of seven and a half percent in the new entity and staying with news out of Japan. The relentless slide in Moorish says is headed for unprecedented territory it sank tool its lowest since twenty twelve that's within a head breadth of its all time, low set you in the European debt crisis in twenty eleven Japan's largest brokerage has dropped nearly seventeen percent this year off to reporting its first annual loss in a decade. Those top stories familial in global news, here's Bloomberg's Sandra Kilhof and Sandra you begin with the Bloomberg scoop. Yes. Good morning, Nara. An Ethiopian Airlines pilot won't senior manages months before the March crash about the dangers of the Boeing seven three seven. Max jet boombox. Pull Richardson reports emails and documents reviewed by Bloomberg news show that. In December the pilot urged his superiors to improve training. Crews will be better prepared for what the lion pundits incontinent turbot before they plane plunged into the Java sea killing all onboard. Airlines plane operated by two other pilots crush minutes off to take over my dis- on monster. Tents killing hundred and fifty seven people on board in Johannesburg, pull Richardson Bimbo, daybreak Europe. US national security adviser Joe Bolton has blamed Iran for the attack on ships new the punishment Gulf. He told reporters that the attack is used naval mines will may Cetinje from Iran, but that the Trump administration is trying to be prudent and responsible in response. Iran has night, any involvement in the incident on cold investigation gemstones, Nongoma, cool succession plan, have fallen apart officials tell Bloomberg that Michael has decided era parent and a con Bala may not be up to the top job, cold Mola is open cities, head of political risk. The coalition government already suffered quite people. Crisis over these past months, and e you elections continue to confirm that they might not have the majority or really the Monday anymore to run the country and Javanese incisions. Oh, all bays considering a snap vote before plan tax, Mike Taiba, noon bugs John husk of it says it comes less than two years after winning a landslide election, albeit will become the country's longest serving minister, November in top lieutenants in his liberal Democratic Party have hinted at the possibility of what is billed as double election, perhaps elections planned for July. And the lower house term is until before to over twenty one. Lee plan is three tain the ruling coalition's majority in both bodies for at least three more years in Tokyo, John herskowitz, Bloomberg daybreak. Your global news twenty five day on air Toco at pod by more than twenty seven hundred journalists and unlisted mold one hundred twenty countries. I'm Sandra Kilhof. This is Bloomberg. Nara sondra? Thank you. Now, we can morning spooked. He is David dune Chelsea Manning, Jim sorry still. Out of his team's training session the night before that you wrote pig final with arsenal. The Italian appeared to react angrily following an altercation between Gonzalo Higuera and.

Bloomberg China US Europe Sandra Kilhof Brian Curtis Bloomberg Chelsea Manning Elliot group Elliot Japan Jimmy company KPMG Joe Easton croup WTO Iran Joey Ston
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:10 min | 2 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"We are going to get on now with the latest top stories starting with the US, China trade war. Beijing is gearing up to us. It's dominance of rare earths as a counterbalance with Washington. Bloomberg's Bryan Curtis has more from Hong Kong state, media, published a number of pieces that included, hints from the state planning agency, rare earths are used in high performance. Magnets, catalysts, alloys, electron IX and the defense industry and China has dominant position. The people's daily said it's not hard to answer the question of whether China would use rare earths as a weapon in the trade war implicit in that is. Yes. China would you know, I'm Brian Curtis? Bloomberg daybreak Europe. Meanwhile, the US treasury department again, refrained from naming China, a currency manipulator, here's Bloomberg's Bloomberg's Greg Sullivan in Washington, one thing that was interesting just coming on the heels of last week's commerce action where they said that they would now place countervailing penalties on countries that subsidize their currencies or weaken their currency. So the administration is looking for ways to, to police that currency manipulation even if it won't be necessarily through treasury. The treasury also updated its wash list with five new nations, including Italy Ireland and Vietnam, India and Switzerland were removed. It'd be interesting to see Italy as a currency manipulator, wouldn't it since. Part of the European Union. So it would have to be the entire block. Let's cross over to Singapore. Wes Goodman from the markets live team joins us. Wes, what's the significance of the US, adding, these countries, Italy, Ireland, Vietnam, Singapore, Malaysia to the currency wash list? Good morning. Good morning, everyone. You know, I think the report is really a warning that the US wants is trading partners to buy more American goods. Post. This has been a big theme of the Trump administration. The report spent a lot of time talking about trade, and you mentioned Italy. Yeah. Took us a little while to puzzle the puzzle the south that the US added Germany, Italy, and Ireland to its currency watchlist, even though, you know, they don't even control their own currency, which, of course, is the euro so again, it's called the foreign exchange report. But, you know, it's maybe focused, of course, on currency manipulation, but, you know, more broadly, the bigger picture of getting countries getting these trading partners to buy more American goods. All right. So that sort of explains that treasury five year yields are about to fall below two percent. You see this as good. It's good. If you own them as we talked about yesterday. We talked about yesterday right? There's good and bad points to this rally. Remember when bonds rallied prices go up and yields go down. So as we discussed yesterday, savers are the ones who are going to suffer. We often talk about the people who are going to benefit, but looking at the Bloomberg total bond market index, total aggregate bond index. The yield is down to about one point seven percent was about two and a quarter just as recently as November, so. Get out your retirement calculator and put in one point seven percent. See how many years it's going to take until you retire. This came up during the financial crisis decade ago when people were calling it financial repression. So that's a uplifting term for a Wednesday. So it looks like we're getting some more of that now. All right. Well, thanks very much for joining us explaining some of that complicated some of those complicated issues. Wes Goodman from the markets live team for real time market, commentary and analysis, check out the markets live blog just type 'em Vigo on your Bloomberg terminal turning to Europe. Now, you e- you leaders have gathered in Brussels to discuss who will be next to fill in the blocks, top jobs, differences, were mmediately apparent between German Chancellor Angela Merkel and French president Emmanuel Macron, the contest for president of the European Commission. Could open up a major rift in the coming weeks with front runner Manfred vaber, or he would be front runner. Her. If anybody supported him, he's the Senate rights official candidate failing to gain traction, French president Emmanuel Macron made his priorities for, for the top job clear, mafia dig my priority is to have the most qualified people, those who share this European project, or the most qualified, and who can make Europe as strong as possible. I am not like those who only want someone who would not overshadow the heads of states or governments need strong leaders. It's strong experience and strong legitimacy. And in the UK the speaker of the house of Commons says parliament won't stand aside and let the country tumble out of the EU without a deal. John Burke, owes comments come as some contenders to succeed. Theresa May have promised to force a hard Brexit. But on the other side of the spectrum foreign secretary, Jeremy hunt has warned that trying to leave with no deal would be political suicide. And top corporate news Nissan. CEO says he's interested in learning. More about the proposed merger between alliance partner Renault and Chrysler, Hiroto psycho says the tie up may present opportunities. He was speaking ahead of Wednesday's meeting of the board governing Nissan's current alliance with Renault and Mitsubishi under the terms of the proposal, Nissan, will gain voting rights of seven and a half percent in the new entity. Staying in Japan. The relentless slide in NoMura shares is headed for unprecedented territory it sank towards its lowest level since two thousand twelve that's within a hair's breadth of its all-time low set during the European debt crisis. In two thousand eleven Japan's largest brokerage has dropped nearly seventeen percent this year after reporting its first annual loss in a decade. Now, let's get your other global.

Bloomberg US China treasury Europe Wes Goodman Italy Washington European Union Emmanuel Macron Nissan Beijing Ireland Hong Kong Vietnam Bryan Curtis Singapore Japan
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:19 min | 3 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"And global stocks are little changed this morning. We're coming up to sixty one on Wall Street. Emmy, check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures they're up about two points. Now, Dow futures up fifteen as futures that will change the Dax in Germany up a tenth of upper sent kankan. Paris up six tenths percent in the Footsie-100 that'll change Nikkei two twenty five in Japan. Gained a tenth of a percent while the Hang Seng in Hong Kong was down nine tenths percent. Ten year. Treasury down to thirty seconds yield two point four seven percent yield on the two year two point three two percent. Nymex crude oil down about eight tenths percent or fifty one cents to sixty four ten a barrel. Comex gold down four tenths percent on five dollars fifty cents at thirteen eight forty an ounce. The euro had one point one two seven eight against the dollar and the yen at one eleven point one zero Nathan Garin, we have a deal too. Brexit Theresa May. And e you leaders, do they reached an agreement that could keep the UK in the block till October thirty first I want to see the wizard the deal. So it's noisy exit a soon as possible this decision enables us to do that the agreement to delay. Brexit till Halloween was reached after six hours of talks in Brussels. Bloomberg's Maria today was there and has more on this latest development. There was a long summit heated at times with some members of the e pushing for a short delay and the and something in between something for everyone. Now, the prime minister's still thinks that she can get her deal done before the European elections. She believes she won't need all that extra time. But of course, that's still very much remains to be seen. In the meantime, the EU sending a very clear warning the extension doesn't mean renegotiation and now it's up to London. And the hasn't come to use this time to ratify that withdrawal agreement that would guarantee as many accent from the UK out of the EU Moran. Today, Bloomberg is for us sales Maria. Thank you, a US China trade deal is getting closer Treasury Secretary. Steven Mnuchin says the two countries have agreed to open and forcement offices that would ensure both sides stick to terms of an agreement. Bloomberg's Greg Sullivan has more. This was one of the biggest sticking points between the two countries this idea of enforcement mechanism in the trade deal. So on that front this does signal clear progress towards getting a deal on the other hand. There are still big issues remaining force technology, transfers intellectual property. Details are still being hashed out by both sides. There's of course, the question of what happens to the tariffs already in place and will President Trump meet with president. Gee, so still some stuff to be worked out drafts of the current trade agreement would give Beijing until twenty twenty-five to meet commitments outlined in the deal is developments on trade talks, though didn't help lift stocks in Asia today. They slumped led by declines in China. Bloomberg's Juliet Sally joins us from Singapore with details. Good morning. Juliet. Good morning. Nathan. And Karen, the CSI three hundred fell by two point two percent while. China's ten year yield slipped to hitting the year's pay on Wednesday. Does showed inflation in China picked up to two point three percent year on year, mainly driven by food. Elsewhere Japanese Stokes with makes the Nikkei two to five edging slightly. Hi, the topic's vitually unchanged in Singapore on Juliet Solly, Bloomberg daybreak. All right. Juliette? Thank you minutes from the Federal Reserve's latest meeting show, the central banks next move could be a rate hike or a rate cut still former fed chair Janet Yellen doesn't see interest rates going lower anytime soon. Maybe at some future point, you might decide it's appropriate to cut race. I wouldn't see that myself is appropriate at this point and get more insight into fed policy this morning when Bloomberg's Tom Keene speaks fed governor Lyle Brainerd catch that conversation at eleven thirty AM, Wall Street time on Bloomberg radio and television. Meanwhile, support for President Trump's pick of Herman Cain for the fed appears to be waning at least three Republican senators say they will not. Back Kane for the Federal Reserve Board that puts his perspective nomination in danger. Senators Mitt Romney, Lisa Murkowski and Cory Gardner have come out against the pig opposition from a fourth Republican would sink nomination entered into corporate news now sources tell Bloomberg some Commerce Bank labor representatives are seeking to end talks about a tie up with rival Deutsche Bank, several labor representatives are so strongly opposed to a deal that they want to shoot it down at all costs fearing, the loss of thousands of jobs, and we're learning more about the sensors that failed on that Boeing max jet that crashed in Ethiopia last month. Bloomberg's Patrice Sikora reports of Bloomberg news review of public databases, reveals potential hazards of relying on the centers which are vulnerable to damage there are at least one hundred forty instances since the early nineties of sensors being damaged by equipment on the ground or from hitting birds in flight in at least twenty five cases in the US, Canada and Europe de damage triggered cockpit alerts or emergencies now in previous models of Boeing seven. Thirty sevens damage sensors merely. Warned pilots in the new max planes sensors automatically forced the plane's nose down. Malfunctioning sensors have been cited in both Cobres lion air accident and last month's Ethiopian Airlines crash Patrice the kora Bloomberg daybreak. Alright Patrice thank you. As Amazon's Alexa, smart. Speakers gained popularity concerns about privacy. Are emerging Bloomberg news has learned Amazon employs thousands of people to help improve the digital assistant, and it's echo speakers. And that includes listening to voice recordings captured by devices. Bloomberg's Matt day has more on the story saying billions of things to Alexa for month. The company says it's going to pick up just accidentally if nothing else a ton of stuff, including some disturbing experiences and funny experiences. Somebody called out a woman singing poorly in the shower as the recording passed around an office. Amazon says it only annotated small sample of voice recordings it has strict technological and operational safeguards and zero tolerance policy for abusing. It system employees. Do not have direct access. To information to identify the person or account associated with specific recordings, and we should mention that Bloomberg radio provides content for Amazon's Alexa, service futures this morning that'll change to hire. Straight ahead. The latest world and national news. And this is Bloomberg. Thank you. Karen? It's six oh, seven on Wall Street, and John Tucker is here with more. What's going on around the world? Lots happening this morning. Yeah. Good morning naked..

Bloomberg kora Bloomberg China EU Amazon Nathan Garin President Trump Alexa Karen Germany Hang Seng US Hong Kong Theresa May Paris Patrice Sikora
"greg sullivan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:22 min | 3 years ago

"greg sullivan" Discussed on Bloomberg Radio New York

"The euro had one point one two eight zero against the dollar the yen at one eleven point one to Nathan can we begin with a deal to delay breath. Exhibit Theresa May. And e you leaders have reached an agreement that could keep the UK in the block until October thirty first I want to see the wiz deal. So it's an orderly exit a soon as possible this decision enables us to do that maybe agreement to delay. Brexit till Halloween was reached after six hours of talks in Brussels. Bloomberg's Maria today. Oh is there and has more on this latest development, a low summit heated times with some members of the EU pushing for a short delay? And the end something in between something for everyone prime minister still thinks that she can get her deal done before the European elections. She believes she won't need all that extra time. But of course, that's still very much remains to be seen. In the meantime, the EU sending a very clear warning the extension doesn't mean renegotiation and now it's up to London. And the hasn't come to use this time to ratify that withdrawal agreement that would guarantee as mood accent from the UK out of the. A Moran today. Bloomberg news, Brussels Maria. Thank you US. China trade deal is getting closer Treasury Secretary. Steven Mnuchin says the two countries have agreed to open enforcement offices that would ensure both sides stick to terms of the agreement. Bloomberg's Greg Sullivan has more. This was one of the biggest sticking points between the two countries this idea of an enforcement mechanism in the trade deal. So on that front this does signal clear progress towards getting a deal on the other hand. There are still big issues remaining force technology, transfers intellectual property. Details are still being hashed out by both sides. There's of course, the looming. Question of what happens to the tariffs already in place and will President Trump meet with president? Gee, so still some stuff to be worked out drafts of the current trade agreement would give Beijing until twenty twenty five to meet commitments outlined in the deal. Go the latest development on trade talks didn't help lift stocks in Asia today. They slumped led by declines in China. Bloomberg's Juliette Sally joins us from Singapore for details. Good morning. Juliet. Good morning. Nathan and Karen, the CSI three hundred fell by two point two percent. While China's ten year yield slipped to hitting the year's pay on Wednesday. Donna showed inflation in China picked up to two point three percent in months year on year, mainly driven by food. Elsewhere Japanese Stokes makes the Nikkei two to five edging slightly. Hi, the topic's virtually unchanged in Singapore on Juliet Solly, Bloomberg daybreak. All right. Juliette? Thank you minutes from the Federal Reserve's latest meeting show, the central Bank next move could be a rate hike or a rate cut still former fed chair. Janet Yellen dozen see interest rates going lower anytime soon. Maybe at some future point, you might decide it's appropriate to cut race. I wouldn't see that myself is appropriate at this point. More inside and defense policy this morning when Bloomberg's Tom Keene speaks. It fed governor Lyle Brainerd catch the conversation at eleven thirty AM, Wall Street time on Bloomberg radio and television. Well, meanwhile, support for President Trump's pick of Herman Cain for the fed is waning. At least three Republican senators say they will not back Kane for the Federal Reserve Board putting his perspective nomination. Endanger senators Mitt Romney, Lisa Murkowski and Cory Gardner have come out against the pick opposition from fourth Republican would sink canes nomination turning to corporate news. Now, we're learning more about the sensors that failed on that Boeing max jet crashed anythi opium last month. Bloomberg's betrays the kora reports Bloomberg news review of public databases, reveals potential hazards of relying on the sensors which are vulnerable to damage there are at least one hundred forty instances since the early nineties of sensors being damaged by equipment on the ground or from hitting birds in flight in at least twenty five cases in the US, Canada and Europe de damage triggered cockpit alerts or emerge. Urgency's previous models of Boeing seven. Thirty sevens damage sensors merely warned pilots in the new mex- planes sensors automatically forced the plane's nose down. Malfunctioning sensors have been cited in both Octo bers lion air accident and last month. Ethiopian Airlines crash Patrice Sikora Bloomberg daybreak. Patrice. Thank you is Amazon's Alexa, smart speakers gained popularity concerns about privacy. Or emerging Bloomberg news has learned Amazon employs thousands of people to help improve the digital assistant in its psycho. Speakers that includes listening to voice recordings devices capture. Bloomberg's Matt day has more people are saying billions of things to Alexa for month. The company says it's going to pick up just accidentally if nothing else a ton of stuff, and including some disturbing experiences and funny experiences. Somebody called out women singing poorly in the shower as a recording that was passed around and office. Amazon says it only takes a small sample of voice recordings has strict technical and operational safeguards and zero tolerance policy for abuse of the system employees. Don't have direct access to information to identify. By the person or account associated with specific recordings that we should mention Bloomberg radio provides content for Amazon's Alexa, service and breaking right now. Sources tell Bloomberg some Commerzbank a labor representatives are seeking to end talks about a tie up with rival Deutsche Bank, several labor representatives are so strongly opposed to a deal that they want to shoot it down at all costs fearing, the loss of thousands of jobs and Bloomberg daybreak continues. This is Bloomberg..

Bloomberg UK Federal Reserve China President Trump Nathan Boeing Juliet Solly Juliette Sally Theresa May EU Brussels Amazon Alexa Maria
"greg sullivan" Discussed on 760 KFMB Radio

760 KFMB Radio

03:23 min | 3 years ago

"greg sullivan" Discussed on 760 KFMB Radio

"Enough of these tickets out always be a winner. I'll get back more than I spent Scott Allen overseas. The Globes investigative reporters known as the spotlight team. The papers. Reporting revealed, the two groups were dominating cash windfall. Sylvie gang from Michigan. In their competition. A syndicate led by math majors from MIT, the Massachusetts Institute of technology. He's were kids young enough to be the Selby's, grandchildren. The guy who started it. He was doing an independent study project as an undergraduate at MIT, and he figured out that he could win this game. He got a bunch of his friends to pool in their money. So they became as time went on professional cash windfall players recruiting their friends and raising money from backers until they too were spending hundreds of thousands of dollars incredibly the MIT group bet between seventeen and eighteen million dollars on cash windfall. Over a seven-year period. Earning at least three and a half million dollars in profits. Almost the exact same rate of return is the Selby's you've got to syndicate from northwest Michigan. You'd better group of MIT students did your story meter start beeping. It was great story. The Boston Globe articles caused a sensation raising suspicion that the game was rigged. The Massachusetts state treasurer shut down the cash windfall game and called for an investigation. It was led by then state inspector general Greg Sullivan, when we got involved the public perception was there must be some kind of organized crime or public corruption. To explain how millions of dollars are being bet by syndicates on state lottery. Tickets. We really looked at this looking for corruption. We've subpoenas. We looked at documents we interviewed dozens of people to get into look at this in detail with a hypothesis that something illegal had happened. You went into this looking for organized crime as the story unfolded. Were you surprised by what you wouldn't surprise? I was dumbfounded amazed that these math nerd geniuses had found a way legally. To win a state lottery and make millions from it and the state's getting rich in the process of very rich estate made a hundred and twenty million dollars. The investigation found no one's odds of winning was affected by high volume Betty when the jackpot hit the roll down threshold, cash windfall. Became a good bit for everyone. Not just the big time betters like the Selby's by then though, Massachusetts state lottery had moved on to a different game. Without a statistical twist and with that jury in March Selby's, excellent adventure, drew to an end in total. They're unlikely homegrown company grossed more than twenty six million dollars from nine years of playing the lottery their corporation twenty six million dollars. Smile when you. It says factoring satisfactor. Yeah, they made nearly eight million dollars in profit before taxes back in ever not exactly the land of extravagance the Selby's put their winnings to practical use renovating their home in.

MIT Scott Allen Massachusetts Selby Michigan Globes Boston Globe Sylvie Greg Sullivan treasurer Betty twenty six million dollars eighteen million dollars twenty million dollars eight million dollars million dollars nine years seven-year
"greg sullivan" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:34 min | 3 years ago

"greg sullivan" Discussed on WBZ NewsRadio 1030

"Meter starts beeping? It was always a great story. The Boston Globe. Articles caused a sensation raising suspicion that the game was rigged, the Massachusetts state treasurer shut down the cash windfall game and called for an investigation. It was led by then state inspector general Greg Sullivan, when we get involved the public perception was there must be some kind of organized crime or public corruption to explain how millions of dollars are being bet by syndicates on state lottery tickets, we really looked at this looking for corruption we subpoenas. We looked at documents we interviewed dozens of people to get to look at this in detail with a hypothesis that something illegal had happened. You went into this looking for organized crime as the story unfolded. Were you surprised by what you found a wouldn't surprise? I was dumbfounded -ly amazed that these maths nerd genius. Had found a way legally. To win a state lottery and make millions from the state's getting rich in the process of very richest. Eight hundred twenty million dollars the investigation found no one's odds of winning was affected by high volume Betty when the jackpot hit the roll down threshold, cash windfall. Became a good bit for everyone. Not just the big time betters like the Selby's by then though, Massachusetts state lottery had moved on to a different.

Massachusetts Boston Globe Greg Sullivan treasurer Betty Eight hundred twenty million d
President Trump, President And Senate discussed on Bloomberg Daybreak: Europe

Bloomberg Daybreak: Europe

04:36 min | 3 years ago

President Trump, President And Senate discussed on Bloomberg Daybreak: Europe

"Pelosi garner. The votes to be. Speaker of the house that she will almost certainly likely to face a leadership challenge that we don't know how serious of a challenge that will be then, of course, they'll have to turn to the issue of policy. They are likely to put the brakes on the Trump agenda. Especially in terms of any kind of new tax cuts. What will they do on health care where they've largely run on defending protections for people with preexisting conditions and standing up to the Trump administration on issues of health care, and we'll be areas where they can actually find common cause with the Trump administration. Whether that's on trade or potentially something like infrastructure spending here in the United States. So those will be the next questions facing them. Greg. How does this result? Look for the US president. I mean, he's been campaigning intensely in the final few days in key states to essentially defend Senate seats in particular these elections had a record turnout. I'm wondering whether or not the president's strategy here for mobilizing voters worked out he's been criticized for carrying a pretty negative message in these rallies. Yes, it's hard to see the results is anything. But it kind of a good day for President Trump. Yes. The Democrats took the house away from the Republicans. But just barely the projections that they could have taken many more seats didn't come to fruition. And on the Senate side, they held their majority, and there are still three outstanding Senate races that are very close with at least one of them possibly going to the Republicans at some point tonight. So we saw President Trump campaign in many of these key Senate seats and people he campaigned for who had a. Appeared to be trailing in the polls pulling off wins. I'm thinking of. Josh Holly in Missouri. And. Braun in Indiana to candidates, they trailed at Trump campaigned hard for and of course, turning tissues like immigration that did seem to resonate with his base in turnout his voters. So the president's position hasn't been weakened. Well on one hand it has with an opposition party in one chamber of congress. His legislative agenda faces a whole raft of challenges. Now aged Democrats have a seat at the table. They get a say on which bills get passed funding. Those will be a lot harder to pass and the president is going to be faced with a lot of investigations potentially subpoenas and a lot of prodding from the Democrats. But on the other hand his his message. He can he can tout that he kept the Senate that voters turned out for him. So Greg Sullivan, thanks so much for joining us out of New Yorker this morning to talk through these results from the US midterm election. Straight ahead. We'll bring you an exclusive interview with

President Trump Senate Greg Sullivan Democrats United States Pelosi Congress Josh Holly Missouri Braun Indiana One Hand