35 Burst results for "Thirty Billion Dollars"
What Trump and Biden Plan for Small Businesses
"As election day quickly approaches, we want return to our ongoing election series. We're taking a deep look at how president trump and Democratic presidential nominee joe. Biden. Differ on major policy issues. Today, we're going to focus on small business. The pandemic has been especially challenging for them. Thousands of firms have already been forced to close joining us now for a look. At. What the candidates say they will do is Journal, Economics reporter Amira Imo Kway High Mira Hi thanks for having me. So both candidates acknowledged some strength with the paycheck protection program. But there are some distinct differences as far as involvement and approach. Let's first start with President Trump yes. So the main thing president trump has done is he's encouraged Congress to. Come together with the administration and reopen the paycheck protection program that program expired in August and so small businesses have not been able to apply for it since then so president trump has signaled his support for reopening the paycheck protection program with about one hundred, thirty, five, billion dollars in funding that was roughly the amount in unused funds that was left when. The program closed and what about Joe? Biden's view. So former Vice President Biden has really emphasized what his campaign characterizes as shortcomings in the paycheck protection program and his platform calls for overhauling the program and doing things like including more oversight of the program and also a provision that would make it so that businesses with fifty employees or fewer would be guaranteed. Funding through the program if they are eligible for it, and some of the experts I spoke with said that that provision would be really important because when the paycheck protection program I opened a lot of businesses were initially unable to access the funds because the first round of funding quickly ran out small businesses whether they are in a pandemic or not. Always. Face challenges when particular difficulty can be getting assistance even though there are programs available. What is Joe Biden? Vision as far as accessibility is concerned so Joe Biden's platform proposes something that his campaign calls the Small Business Opportunity Fund. So this is a fun that would receive thirty billion dollars in federal funding initially, and it would make investments it do things like. Direct. Ten billion dollars to state and local programs that provide the sort of venture capital that businesses need to start and businesses need to grow and the trump. The trump platform on this trump platform or pitch has really been sort of highlighting things that have been popular during his first term. So for instance, he has talked about tax cuts and his administration. Implemented a tax deduction that lowers income tax bills for many small businesses. His campaign has also focused on sort of the regulatory approach that the trump administration has taken and some small business advocates say that that deregulatory approach has really helped small businesses given them less burdensome regulations to work with and basically taking away some uncertainty and that has has benefited them. Within small businesses I WANNA. Focus on minority owned small businesses. This election is happening as the nation has an ongoing conversation about racial equality. What is the White House of you as far as specifically helping minority owned small businesses. Well what's really interesting is that this area is one where the trump campaign in the binding campaigns actually a common ground I think both campaigns have acknowledged that for instance, there are concerns that minority owned small businesses had trouble accessing the paycheck protection program or that minorities tend to have more hurdles to overcome when they want to start businesses because minority households tend to have less access to. The kind of wealth that they used to finance small startups, and so the trump campaign has proposed what it's calling its platinum plan for Black America and in that plan the the campaign is proposing, for instance, giving more funding to these kinds of lenders called Community Development Financial Institutions. These are financial institutions that focus on lending and other financing to minority communities, rural communities, and other underserved communities. And some specifics of Abidin plan. So Mr Biden proposes using that Small Business Opportunity Fund that we talked about earlier to, for instance, expand lending through state local and other programs that have had a successful track record of providing lending to minority owned businesses, and his plan also calls for expanding lending through those community development financial institutions that we talked about.
AMD Is in Advanced Talks to Buy Xilinx
"The Wall Street Journal reports that according to sources amd is in talks to buy the chipmaker's islands in the deal that could be valued over thirty billion dollars. The deal could reportedly be finalized by next week although sources say negotiations previously have stalled for recently restarting exiling is a maker of FBGA's re programmable chips currently used in early five G. Rollout, military communications systems, and increasingly in specific machine learning applications back in two thousand, fifteen intel acquired the prominent fpg maker Altera for sixteen point seven, billion dollars.
FinTechs Pandemic Pivot with Cross River CEO Gilles Gade
"Hi everyone is Rei and welcome back to kindred casts I'll sitting down today with my friend Jill gave the founder President and CEO of Fintech powerhouse and Unicorn Cross riverbank crossover was started by Jill two, thousand eight as one branch bank located teaneck new. Jersey. At the technology company now, powers companies like affirm circle best a coin based rocket loans stripe of star and transfer wise at are backed by big investment from Ktar, a French battery ventures, Andriessen, and Lyari. Issue over the past twelve years, the firm has grown to three hundred fifty employees providing over thirty billion dollars in loans over eighteen million customers, and during the crisis crossover helps nearly two hundred thousand small businesses would be yuan's through the paycheck protection program, which really puts it in the company of the big banks like Bank of America Vicki Morgan Wells Fargo Right? They're pretty impressive and very helpful to our overall recovery drinks endemic last two years it was named the most innovative bank to work for. Job GonNa try to give you a run for your money on that one here line. But I WANNA wish you. A Happy New Year it's a real pleasure and honor to kick off the year in the Jewish calendar fifty, seven, eighty, one podcast, and as I like to say when you have gone for over five, thousand seven hundred, eighty years, there's downs, ups and Dowse said via a shot at the by pleasure to. Today. It's real pleasure. We've. Meeting of last year's restaurants and and peers of isolation and zooms that in person you're one of my first meetings safety and security and I really wanted to stay closed during this dynamic given how busy you've been thus give everyone a background here because I really think through cross. River. Everyone here is going to get a lens of not only the fintech universe and where. We're going in banking what we've come from, but also what has been going on on the ground during the period in helping so many businesses on Main Street get back on their feet again, and that's really why this is such a story around business and building value but also round helping people around a real heartening narrative that I really wanted to to bring out here to. Tell us how the company was founded. In An Giang aid is a quite an unusual and interesting story towns came to be across different, very ginning. Sure. So I don't want to log on the history because I think the more recent stories much more fascinating just trying to help two hundred, thousand small businesses get back on their feet. As, been. Me Crowley the biggest side, my career and I think probably would be the highlight those anybody spuria stage. So something that's we're very proud of York buster the go back in time. So I came to the United States in Paris fries whenever airs went to school there worked a little bit I was actually analysts that CPR venture capital in Paris. Working on. Some of the first. Time nineteen eighty, nine, hundred ninety in Europe actually, and then crossed the Atlantic came in Nineteen ninety-one go to job at bear stearns I was in International. Working on. Of. Banks insurance companies. So that was my first foray on shown initial services got very fortunate. I. Wide. I landed in finishing the group at bear stearns and our retrospect you gentlemen standing of our God does things and just put. So you know some pebbles along the way that one day you're going to be caught to inspire where you heading in. Then I took a Atas when I got married and I went to learn fouls. Wow Yeah Joe Jr ethics, which is a commentary on the on Jewish law. In companion. I did ask a couple of years came back to of making this time. The only job I could land was open difficult to give back to the market I worked for Barclays Capital. Zoom one of the Thomas Tell you that made you on jump back into banking. More by necessity. With all the day will undoubtedly the feedback I needed to go back to work I. Think. All my life savings where it's only exhausted it's not a life that was prepared to date or the rest of my life. So regretfully, so because it's it's really fascinating as size definitely intellectually stimulating. Question about it but I still enjoy doing it. By the way I still earned every single day studying law in this is something that will stay with me Probably you know for the rest of my life. A lot of good business lessons and haven't company in the home. Absolutely I mean there's definitely a concepts of humility ethics respective others listening to the position particularly respecting the physician and there's always a counterpoint that. Is Truly a hundred centre-right nobody's abso-. Medium. Or these always way and ruth compromise, and this is only a life lesson that is invaluable. And by the way, you know any book that I've Read Entrepreneur and as points to she's. Have successfully led their companies through an exponential organization at goal example, Faisal Volleys. So just running about them under different concept different setting and they're trying to allies them intellectually and then trying to fly them. Businessworld is something that I was very fortunate or being able to do the. So you hundred that's that was very formative for me and trolley in the central step along my travels and my journey in becoming the COO crosser in that like say like the only job I could land at the time was in technology banking and nothing about technology. For aqueous capital. Under Sunday night, who's global head of technology and worked on some Fascinating Tales Global Crossing Iridium satellite network in then work on the transaction war on the computer associates CSC sale merger it was really fascinating to. To work on the technology front been trying in in learning about a new trade and look at this you know like some fifteen years later. It's a rejoinder between technology and banking.
Protecting Your Brain from Alzheimers Disease and Cognitive Decline
"In this mini episode, I speak with Dr David Perimeter Dr, Lisa, Mosconi Dr Dale, Br Edison about why Alzheimer's is a preventable disease and the lifestyle factors that can set the stage for Alzheimer's years from. Now, we also talk about this disticts of Alzheimer's disease and its impact on women, and what you can do today today to prevent cognitive decline in the future. Let's listen in starting with interview with Dr. David Pearl Mutter, a board certified neurologist and four-time New York. Times bestselling author, we do know that a for the most part Alzheimer's is a preventable disease. This is a disease costing Americans two hundred and thirty billion dollars affecting five point four million of us. That is dramatically exploding in terms of its incidence and prevalence globally, and yet you know the notion that our lifestyle choices are not relevant is it does take my breath away. You know it's all about living a life that is less inflammatory and that certainly transcends are narrative as it relates to Alzheimer's but. Involves Parkinson's and involves coronary artery disease diabetes and cancer, and all of the chronic degenerative conditions, and you know what really is so very important and I think sort of stands in our way of getting this information to really have traction is the time table that this is effective over for example, you tell somebody wear your seatbelt that'll be good for you. They get in a car accident they're wearing their seat belt and they say, Hey, I get it that worked yesterday I was in that accident worked. But the inflammation issues that are relevant in terms of causing the brain to degenerate or narrowing the coronary arteries. These are issues that are beginning to take shape ten, twenty, thirty years prior to actual disease manifestation, and therefore it makes it very challenging for the consumer to connect those dots. Let me give you an example. In the journal Neurology, which is arguably one of our most well respected neurology journals on the planet period viewed. There was an interesting study that was published and it measured in a group of several thousand individuals who were in their forties and fifties. At the time it measured markers in their blood of inflammation and the study then came back and looked at the same group of individuals twenty four years later, the study again was just. And what it found was really quite remarkable. There was very direct relationship between risk for developing Alzheimer's disease and having had higher measurement of blood inflammatory markers twenty four years ago. So what does it say? It says that if you? Elevated Markers of inflammation in your blood today, you are setting the stage for Alzheimer's years from now and so that your lifestyle choices today whether you choose to eat low carb high carb high fat low-fat whether you choose said integrity vs physical activity the amount of sleep that you get. Hopefully that is restorative the amount of stress in your life, etc. these are all extremely important variables. Which you have control that clearly are connected to your brains Dini. This is not live your life come what may and we have a pill for you. If you're suddenly cognitively impaired is the other story. The story is that you make lifestyle choices today that will dramatically impact how your brain works to three decades from now
Walmart Joins Microsoft In A Bid To Buy TikTok
"Shares of Walmart rose six percent this week and hit a new all-time high on Friday after the retail giant confirmed it is teaming up with Microsoft in a bid for Tiktok the wildly popular Chinese social media APP Tiktok his close to selling operations in the US Canada Australia and New Zealand in a deal expected to be in the range of twenty to thirty billion dollars. Andy, this is moving pretty quickly. So it's quite possible by the time people are listening to this. The deal is already done but. When I first saw this news. It didn't make any sense to me why Walmart would get involved here. Yeah I think that probably was a little bit of a shock to too many people but the thought about it kind of makes little sense. Chris. So just think about what Doug Macmillan. The CEO at Walmart has been doing in their e commerce business trying to have so much success even before the covid nineteen lockdowns and having that success partnering with for example, the likes to shop of five announced earlier on me well, more has a very large ecommerce presence when the larger sites out there they're ECOMMERCE businesses going gangbusters. Right now they generate a lot of profits and cash as Microsoft and so I think when Walmart is looking to expand their audience, maybe continue to compete with Amazon when it comes to third party sellers, they have four, hundred, fifty, thousand third party sellers, Walmart does that's a fraction of what Amazon does. So again, to expand its reach reach a different audience, take talk may not be so much of a stretch depending on what price they can get. Now there's there's big numbers being tossed out of thirty billion or so but that's I'd be surprised if tick tick talking get that but I see as a way for Walmart to really expand into different audience expanded advertising business and build out ECOMMERCE platform in a way that it hasn't it would be very tough to do on its own. Jason if you're a Microsoft shareholder, are you would you rather see Microsoft go all in on this or do you like the idea that a company like Walmart is helping to spread the risk around because they're going to pay for part of it? I mean mean I would rather see Microsoft just take this on its own I. Mean I think the bigger risk probably. is on Walmart side just given what the business does given given the history of the business kind of how it. Built itself up to this point and physical retail. So You know personally, I'd rather see one parties opposed to many but. We'll cross that bridge when we come to it it, it does seem like an odd combo. TIKTOK perspective I mean you you have to figure they tiktok or trying to figure out how to be more than just an ad play right? What we know about the business today, it's very little. We know they have a big network of people that use the platform. I mean, no, they don't make a heck of a lot of money and it's essentially just an advertising play and and that's a very tough space with plenty of incumbents that do really well already. But if you're not facebook or Alphabet, then you're just part of this sort of collective of mediocre businesses that are taking a little bit of what is a very. Big Hi there I mean twitter it's just kind of mediocre business snap. It's just kind of mediocre business in tick, Tock faces that same fate if they don't figure out how to become more than just an ad plays so so you've seen facebook with instagram trying to get into social commerce twitter's made some here and there with that with that as well as snap. Eligible that Walmart would view tiktok from that perspective and tiktok would be looking to do that. It's just going to be a very. Interesting situation if it is a consortium that ends up acquiring Tiktok, because you have more people trying to determine more companies trying to determine the fate, which typically can be a more difficult thing and a lot of speculation of Walmart might do with this but you gotta like the fact that Doug Macmillan is keeping his cards pretty close to the vest he's not. Really saying they're GONNA use it. He's not saying whether it's going to be part of the Walmart plus service that they're going to roll out later this year. Yeah. Not Surprising just the quality of management that Doug has been able to showcase in just the type of leader he is and will be very interesting on the pricing perspective how much they WANNA pay If the deal does go through there aren't very many platforms out there. I think they're reportedly eight, hundred, million users of TIKTOK. Imagine they're very active there they probably skew young. There aren't many platforms out there when you look at the acid base, this is one that that I think Walmart is one of the larger companies out there in the world is saying listen this is a place where we can maybe have some immediate impact in there and to to continue our our transformation too much more of a larger of a digital company.
Airbnb Headed for Confidential IPO Filing This Month
"This is something that I would normally wait until the news was official before reporting on, but AIRBNB is the biggest Unicorn we've been anticipating, Mike Public, all year, its path to an IPO has so perilous what with covert and everything, and frankly we've discussed how very desperately the company needs to go public soon mostly for internal morale. So worth noting that sources are telling the Wall Street Journal that AIRBNB plans to confidentially filed for an IPO, this month with the aim of May getting the listing out the door by the end of the year. Let me let the Wall Street. Journal. Reminds you of how he got here quote. The long-awaited move, we'll bring one of the stalwarts of the sharing economy into the public domain alongside ride sharing platforms uber and Lyft, and sets up the next few months to be especially busy time for big IPO's AIRBNB was recently valued at eighteen billion dollars down from an earlier evaluation of thirty, one billion an imminent debut would mark a turnaround for airbnb which was founded in two thousand eight and allows people to list their homes for rent for years. The company shied away from the public markets as it grew into. One of the most highly valued startups with four point eight, billion in revenue in two, thousand, nineteen alone. It also spent big however prompting it. To swing to a loss in the first nine months of twenty nineteen compared with a two hundred dollar profit a year earlier, The Wall Street Journal reported its woes deepened late last year after issues emerged involving crime and safety problems on its platform and as the pandemic spread across the globe. So did the company's headaches people stopped traveling causing bookings to plummet airbnb three years ago valued at more than thirty billion dollars rush to secure financing from private equity firms, Silverlake, and sixty partners at a high interest rate and with warrants that when exercise would value the company at eighteen billion dollars in May. AIRBNB. said it was laying off a quarter of its staff and
Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic
"A major milestone for the Nasdaq on Thursday the index briefly crossed eleven thousand for the first time ever the Nasdaq them closed out the day a hair below that eleven km milestone, a record high that's the indexes six record close in. So. Far, the Nasdaq is clocked a record close thirty one times in twenty twenty. It's remarkable run for the and exit especially considering what a hit like the rest of the stock packet back in. March. Clearly, the Nasdaq is come back with ferocity it's gained about twenty three percents alone the S. and P. Five hundred and the Dow Jones indices have each clocked day winning streak and the S&P is now near percentage points away from his own twenty twenty. Of course, record highs in the marketplace seem at odds with the troubles were seeing a real economy small and medium businesses are shuttered big retailers bankrupt individuals and entrepreneurs are anxiously awaiting more government relief according to some as you'll hear, the disconnect is in part due to the Federal Reserve's unprecedented actions throughout the pandemic. And investor competent that the Fed will continue to support the markets. One former presidential candidate is calling for billionaires to step up to the real economy. Here's duckie quick Senator Bernie Sanders he is now. Calling for a crackdown on billionaires, this is what he tweeted last night. I will be introducing legislation tomorrow meaning today to tax the obscene wealth gains billionaires have made during the public health crisis. The senator tweeted a thread explaining his proposal saying while over thirty million. Americans. Have seen their six hundred dollars a week and unemployment benefits. Expire emergency actions taken by the Federal Reserve to prop up the stock market have meant that four hundred, sixty, seven billionaires saw their wealth go up by over seven hundred and thirty billion dollars since the pandemic began while Amazon is denying paid sick leave hazard pay personal protective equipment to four, hundred, fifty, thousand of its Workers Jeff Bezos has increased his wealth by over seventy billion dollars. Amazon shares are up more than seventy percent year to date. You can see this morning down by about twelve dollars. Senator Sanders also calls out Walmart's Walton family. Tesla's Elon Musk and facebook's mark Zuckerberg for making billions of dollars during the pandemic, and then trying to juxtapose that with what they've done for some of the workers along the way he then said by taxing sixty percent of the wealth gains made by just four, hundred, sixty, seven billionaires. During this pandemic, we could guarantee has a right for an entire year and billionaires would still be able to pocket over three hundred, ten billion dollars gains during the worst downturn since the Great Depression.
Going old Turkey: a regional power spreads
"A decade ago, Turkey's Foreign Minister Audit of Attalou used to boast his country was on good terms with everyone police fantasia want. less confrontation, less tense attitude. Especially, in the region, he spoke at the Council on foreign, relations with the will of the principal. In. Two thousand three. Zero problems with our neighbors. And the made a huge progress. All, that now seems a distant memory Turkey is growing its international influence and not always with a light touch. The country has been backing Libya's government in its civil war. Last month. The Turkish Defence Minister landed in Libya to inspect his troops and opposition warlord warned them to get out or else. Turkey prompted an angry statement from Egypt last week by allegedly planning gas exploration and Egyptian waters. And yesterday Turkish officials railed against an American company for its dealings with ethnic Kurds in neighboring Syria. That Turkey believes to be terrorists. To some, all this adventurism is reminiscent of past chapter of the country's history when the Ottoman Empire ruled all of Syria and far beyond. Turkey, has been playing an especially prominent role in Syria since protests spread into a full blown civil war. Turkey has really become a meshed in Syria since the start of the our spring, the uprisings that took place in two thousand eleven across the Middle East it back. The Islamist. Movements that initially took to the streets and then took up arms. Nicholas Pelham is our Middle East correspondent. But as those fighters were false back towards its border, it's really stepped into try and protect its southern border, stop any more refugees coming into the country and to provide some sort of safe zone for the proteges, and it's also very nervous about the current state law that emotion the northeast of the country. It feels very threatened by the emergence of Kurdish power on the southern borders, and is it reasonable for Turkey to think that those Kurdish forces are really a threat historic? The have been links between the PK, the cuts down Workers Party, which has been waging a thirty five year a war for. Autonomy and separatism inside Turkey. Many of those fighters did flee sought refuge in Iraq and in Syria, and so Turkey is worried about what it sees very much kind of PKK influenced state emerging on its southern borders. So this year it's been launching pretty heavy attacks inside Iraq, it's been sending tanks across the border. It's established positions inside northern Iraq. It's been carrying out drone bombardments, such two hundred kilometers from its border in Saint, John More, Kurds all the way along its southern border inside Syria inside. Iraq see a new Turkish assault, which is pushing deep into their territory and not just unsettling. Kurdish aspirations for sovereignty in Iraq and Syria, and this is also unnerving Arab leaders as well. Who Turkey pushing deep into territory, which was part of the Turkish Republic predecessor. The Ottoman Empire, which ruled the Middle East centuries until its dissolution about a century ago, which is to say that Turkey is expanding its influence is doing this adventurism beyond Iraq and Syria all over the Middle East of the moment. There's a this year has seen the new intervention of the Turkish, Army. Libya. They came to the rescue of the besieged government of National Accord. In Tripoli, which has been fighting a civil war against a renegade general. Khalifa. After Turkish forces established at base on the borders of Tunisia, we're seeing it's frigates make a bid for control of looking coastline and even ward off French frigates. We're really seeing a substantive increase in Turkish. Power across the Middle East and it's not just happening in Liberia. It's happening in Gaza, which is an ally of Turkey. Turkish forces there have tried to help. Cut Break Its blockade by Saudi Arabia they're. A. Few hundred to a few thousand Turkish forces that are they're wasting more Turkish interested in Yemen civil war. We're seeing interest in a Sudanese port and actually Turkey's largest overseas basis in the point of Africa. So really this is a massive increase in Turkey spread across the middle, East and do you believe that the the the Ottoman history plays into that as a return to former glories? In some way? It's very much the in the rhetoric certainly saw Mr. Osman tropes at the at the height of the Arab spring wanted to appear to be the leader of the Muslim world. He was promoting his version of governance across the region hoping to clone the Turkish model across the Middle East. But since the collapse of Islamist movement since its as from power in Egypt and the retreat of many of its forces, he's really kind of played much more on Turkey's national interests. He's ally domestically with what had been his nationals opposition. He seems to be much more concerned on trying to maximize Turkey's economic claims in the. The Mediterranean this since much more about promoting Turkey's national interests than flying it systems colors. This is really an exercise in in hard power and trying to exploit the weakness of others, the retreat of Europe and America from the Middle East. The policies of many Arab governments, and try and push Turkey to fill what seems to be a vacuum of power across the Middle East, and so is that push to serve Turkey's national interests working is, is it benefiting from this from this expansionism? If you're trying to put together a balance sheet of profit balance sheet? Sheet Turkey has benefited from Khatri investment cutters, loans, and investments have helped prop up the Turkish lira. It may be that country's also hoping to fund part of its military costs in Libya Turkeys, keen to promote its companies when it comes to eventual reconstruction of war-torn Libya, which after all is energy rich state, and so long term, there may be benefits, his critics home highlight, the cost it's estimated that Turkish operations in Syria have cost anything up to about thirty billion dollars, and of course, there is a threat that you're going to see a major escalation. Escalation in the Middle East, which could embroil Turkey. It's not just Turkey is entering the middle, East enforce. It's also Russia. Many Arab states are trying to gain Russian support to push back Turkey, not just Syria Egypt the United Arab Emirates looking to Russian support in Libya, and Egypt is sending its tanks to the Libyan borders. The UN warned that the risk of a of a regional war focused on Libya and beyond that that risk was huge. So this is a massive gamble and it looks as if the stakes are going to be increasingly hyphen
Looking to Drop a G on Jordans? StockX Can Help Spot the Fakes
"Limited edition sneakers have become one of the sites specialty areas since it's twenty fifteen launch stock x has authenticated three point five million pairs of Covid Air Jordan's co-founder Josh Lubar Tolsey NBC. One million of those have been done in the last six months alone, so why the sudden? Interest in top dollar sneaks apparently because of the buzz generated by the ESPN docu series the last dance the series featured Michael Jordan and Chronicle the Chicago Bulls six championship. Run in the nineteen nineties. As, the sneaker market has soared, so has the counterfeit sneaker market fraudsters try to push look-alikes all over the Internet, but Stock Act says responded by upping their number of so called authenticated to look for telltale signs of fakery. They pore over every. From colors and patterns to the exact size of the shoebox, according to town and Country Magazine. This attention to detail has paid off his big stock xs. Now valued at more than a billion dollars. Sneaker heads have another option to help them get an objective second opinion. Check check is a sneaker authentication APP that uses artificial intelligence despite fakes for a dollar sneaker. The APP walks you through the photographic process. The I. Powered Interface looks for discrepancies in design and color. Then a team of to authenticate also reviews the shoes. The Apple Deliver A. A verdict pass not pass or unable to verify, and if the sneaker cray's seems like just another passing fad, some China's he differently the Wall Street Journal reports Chinese investors are using sneaker trading platforms to invest as if the shoes were financial derivatives SOM- are even buying and selling shoe fractions Chinese. Banks have been sounding. The alarm and the behavior worried that the high end sneaker bubble is going to burst delivering a swift kick to overzealous investors. For now US platforms don't have the same problem, but in May. Sotheby's announced it had recently sold a pair of Nike. Air Jordan ones for more than five hundred fifty thousand dollars making them the most expensive pair ever sold the sneakers had been warned by Jordan in a game and autographed, according to CNBC research from Callan and company expects the sneaker resale market to reach thirty billion dollars over the next decade, even going so far as to call sneakers and alternative asset class.
Banks Under Fire for Alleged Unequal Lending Practices
"The practice of red lining were denying financial and other services to people based on race, was outlawed in nineteen, sixty eight, but last week several Chicago Chase Bank branches closed temporarily as protesters call for racial equity and lending from the nation's largest bank and expose published in early June by nonprofit newsroom city bureau and WBZ radio found that off the seven and a half billion dollars in Chicago home. Purchase loans approved since two thousand, twelve, less than two percent was loaned in black majority neighborhoods. The bank is also the subject of a Federal Class Action Lawsuit. That suit alleges that chase shutout. Business. Borrowers from the paycheck protection, program or PCP. Stacey Hawkins Armstrong's the founder of shop. poppin gourmet. Popcorn in Westchester. She told news station ABC seven Chicago the. She tried to file her PP loan application with chase. On the first day. They were accepted, but she got nothing but error messages desperate to keep her doors open and her four employees on payroll. She ultimately secured a smaller loan through a different bank. She believes that chase prioritized. It's favored customers and left small businesses like hers in. In the cold, She's not alone the US. House of Representatives is launching probes into how several banks including J. P.. Morgan Chase Bank of America and Citigroup made P P P loans according to the Orange County Register. Critics allege that big banks service business customers and Shutout underserved borrowers from the funding pool. redlining continues in subtle ways today, including in how P P P loans. Loans were distributed according to Everett. Sand CEO of small business lender lend Distri in a report in fortune as business wars daily reported earlier this month. The Small Business Administration gave no guidance to lenders to prioritize underserved communities about ninety percent of black owned businesses have no employees ease sands, says P, P P rules. Regarding sole proprietors came out last that let these entrepreneurs unclear about. About which loans were available to them? The SBA hasn't released the demographics of WHO received PPP loans, but a survey report by color of change and UNIDOs US is revealing more than half of black and Latin next small business owners who sought assistance requested less than twenty thousand dollars in funding only about one in ten received the funding. They ask for according to the report. One united the nation's largest blackout bank has been working to help black owned businesses get better access to loans in the second round of stimulus funding, federal government allowed thirty billion dollars to smaller and minority owned banks such as community development, financial institutions were CDFI's one united secured some of that funding with that on April. Twenty nine, the bank launched its own P. Program. The bank committed to lending to black owned businesses and self-employed people. It's I. P P Loan, went to an uber driver. Time will tell who was more effective in getting money to black owned businesses, but the stakes couldn't be higher. A recent report by the Brookings Institution Warns Covid. Nineteen could wipe out a decade of economic gains by black owned businesses as Congress debates whether create another stimulus round. The future of many black owned businesses hangs in the balance.
Hidalgo Calls for Applications for Houston's Harris County COVID-19 Relief Fund
"The application process beginning today for round two of Harris county's thirty billion dollar covered nineteen really fun judge limited Dogo says to allow income dome all low income residents are encouraged to apply since the beginning of March more than two hundred and seventy seven thousand Harris County residents have filed for unemployment and so we're trying to make a dent in that I don't know says that about twenty thousand households will receive between twelve and fifteen hundred dollars per
Changes to Relief Program Trip Up Small Businesses Seeking Loans
"There's a big question looming over the paycheck protection program that the federal government set up that aid money is not reaching business owners of color why not and here's Danielle Kurtzleben looked into it the first time Rosemary Bolger applied for the small business relief loans it didn't go well she needed a loan for naco creative her small Minneapolis based company which has created ad campaigns for brands like the NCAA final four so she went to her credit union they were hard to reach but eventually I got through to someone and they emailed me back saying the current process for them because they don't process SBA loan I wasn't aware of that then after trying and failing it to other banks she managed to find one that was accepting applications for new customers and she quickly applied but then next week I got an email from them saying you know the money is running out and then now it's just going to prioritize their clients that had borrowed before the budget has applied there again during the second round of funding but hasn't heard back yet but she could use the money and fast her team is currently working through the pandemic without pay we will have a healthy pipeline coming into this year as soon as this came down everything went on hold and then disappear lawmakers set aside thirty billion dollars for smaller lenders with an aim of helping business owners of color like Bhoja but a new report from the small business administration's inspector general found that minority owned businesses may not have received loans as intended because the agency didn't tell lenders to prioritize those borrowers the carers act ten rules specifically laying this out the report also recommended that the agency collects demographic information going forward an additional problem for these owners is that they are more likely to be sole proprietors in other words their businesses are owned by one person according to Ashley Harrington senior policy counsel at the center for responsible lending what we're talking about getting rid of color most of them are very small businesses so their sole proprietorship or they have less than ten employees who are likely to be a sole proprietorship than any of the other small businesses the budget has six people on her team and they're all contractors making her business one of those one person's sole proprietorships some of those were only allowed to apply for PPP funds one week after other businesses that put them in the back of the line to get the money which ran out quickly during the first round in addition relationships with banks matter according to Michael Roth he's managing partner at next street which works with local governments on small business policy black and Hispanic owned businesses because of their lack of access to capital and banks and financial institutions and friends and family are far more likely to use personal funds to finance their businesses and generally that's run out of you know personal checking accounts that could be a problem for some businesses in the program because some banks would only loan to people with business accounts so owners without those were shut out boy just says that if she doesn't get the funding it won't take her business down completely but it could make life harder the main thing that we're on the verge of losing in their office space but yeah we will go out of business but it's it's already hurt the contractors who rely on her for income one of my team members and taken a job with Amazon for example but but we're still pushing to get business in for now she says they're working on a new project to make sure health information about corona virus can reach poor and immigrant communities as well as communities of color Danielle Kurtzleben NPR
Minority-Owned Small Businesses Were Supposed To Get Priority. They May Not Have
"There's a big question looming over the paycheck protection program. The Gut the federal government set up that aid. Money is not reaching business owners of color Wi- NPR's Daniel Kurtzer looked into it. The first time Rosemary Borja applied for the small business relief loans. It didn't go well. She needed a loan for Neko Creative Minneapolis based which has created ad campaigns for brands like the NCAA final four. So she went to her. Credit Union should reach. But eventually I got through to someone and they emailed me back saying they can't process them because they don't process. Sba Loan I wasn't aware of that. Then after trying and failing it to other banks she managed to find one that was accepting applications from new customers and she quickly applied but the next week. I I got an email from them saying you know. The money's running out and then now just going to prioritize their clients that had boroughs before the Bulla has applied there again during the second round of funding but hasn't heard back yet but she could use the money and fast. Her team is currently working through the pandemic without pay we have a healthy pipeline coming into this year. As soon as this came Dow- everything went on hold and then disappear. Lawmakers set aside thirty billion dollars for smaller lenders with an aim of helping business owners of color like Boba but a new report from the small business. Administration's Inspector General found that minority owned businesses may not have received loans as intended because the agency didn't tell lenders to prioritize those borrowers. The cares act had rules specifically laying this out the report also recommended that the agency collects demographic information going forward. An additional problem for these owners is that they are more likely to be sole proprietors in other words. Their businesses are owned by one person. According to Ashleigh Harrington Senior Policy Counsel at the Center for responsible lending we're talking about businesses of color. Most of them are very small businesses so their sole proprietorship or they have left teams. Leave in fact more likely to be a sole proprietorship in any of the other. Small businesses budget has six people on her team. And they're all contractors making her business one of one person sole proprietorships. Some of those were only allowed to apply for P. P. Funds one week after other businesses that put them in the back of the line to get the money which ran out quickly during the first round in addition relationships with banks matter according to Michael Roth. He's managing partner at next street which works with local governments on small business policy. Black and Hispanic owned businesses because of their lack of access to capital from banks and financial institutions and friends and family are far more likely to use personal funds to finance their businesses. And generally. That's run out of you know personal checking accounts that could be a problem for some businesses in the program because some banks would only loan to people with business accounts so owners without those. Were shut out. The boy says that if she doesn't get the funding it won't take her business down completely but it could make life harder. The main thing that we're on the verge of losing is our office space. Yeah we won't go out of business but it's already hurt the contractors who rely on her for income one of my team members and taken a job with Amazon for example but but with still pushing to get business in for now. She says they're working on a new project to make sure health information about corona virus can reach poor and immigrant communities as well as communities of Color
Warren Buffett and the Berkshire Hathaway Annual Meeting
"Okay. Let's talk about Warren Buffett and his comments at the Berkshire hathaway meeting. He talked for over four hours so I might not be able to get to everything in fact. I'm just going to get to a few topics that really stood out. And this is by the way. If you haven't listened to it you can go listen to it just Google Berkshire Hathaway shareholder meeting yacht. Yahoo Finance has it and you can find it on Youtube. And it's worth it. It's worth listening to Warren Buffett. Talk for four hours. Once a year it really is even if you disagree with every syllable that comes out of his mouth. It's still worth listening to. So I think one of the really big perhaps the biggest topic that he covered couple of weeks ago he became public that he started selling his position in the Airlines. And he put one slide up the beating that showed the first quarter purchases of equity securities by Berkshire hathaway including buying back their own stock but they made investments in equities of fourbillion. They sold two point two billion of equities and they bought back a billion seven of their own stock not really huge numbers for Berkshire but then he put up a slide. That showed in the month of April because the first quarter ends March thirty first right month of April purchases of equity securities. Four hundred twenty six million peanuts nothing for Berkshire. He was asked about it. He couldn't even remember what it was and he said I might not have done. It might have been you know. His his top capital allocation lieutenants. Ted In todd. He bought bags zero stock. We'll talk about that in a little bit and sold in the month of April alone. Six and a half billion including all the rest of the airline stocks okay. Why did he do this? Well he he put up a slide and he said you know it was not one hundred percent that's six and a half billion was not one hundred percent of what we sold in April. But you knows mostly mostly airlines said. I made a mistake and he went through the history of the position and if you look at the filings. He started buying these things in late. Two Thousand Sixteen. He said we paid. Oh I don't know seven or eight. Billion couldn't even remember how much to own ten percent of the four largest airlines starting at that time and then into two thousand seventeen you kept by and he figured that for seven or eight billion. He was getting a billion dollars worth of earnings that he thought was likely to go up over time and at that time he did an interview with. Becky quick of CNBC. And he said the airlines have had a bad century and they've had like over one hundred bankruptcies and it's been terrible and they've consolidated into four big ones. That are doing pretty well etcetera etcetera. And you know we want a piece of it and those four those top four American United Delta and southwest accounted for like eighty percent of the domestic airline capacity. So right there. It sort of felt to him. It seems like when he bought the railroads who had been through. I don't know about a difficult century. But yeah pretty pretty tough time over the past decades before he bought and then turned into a pretty good bet because they had consolidated down they had been through restructurings same type of a situation and they had some pricing power to and I remember hearing about that idea from the guys at allegany well run insurance company PUBLICLY COMPANY TICKER SYMBOL. Why the letter? Y and was by when Burlington northern was like I don't know twelve bucks a share or share or something like that maybe even cheaper and Buffett bought the whole thing of Burlington northern for one hundred dollars a share so late to the party but still thought it was a good bet and same thing he said we treated it mentally as if we were buying a business meaning as we were buying one hundred percent of a whole business and if you've heard him talk over the years they liked to buy one hundred percent of the business they liked by as much as they can once they liked to sing and like the hold it forever. That's their favorite thing to do. And you know this look like an equity position that he might hold effectively forever and he said you know the companies were well managed and all that stuff but now he blew out the whole position when the whole world he sold into weakness right. This is the guy who says be greedy when others are fearful while he's fearful when others are fearful because he's not buying anything and he sold this massive position and is not spending any of his giant hundred and thirty billion dollar pile of cash. So that's kind of unusual. And he said the airline business. I'll just quote a few little things he says. The airline Business Blah Blah Blah. I think it changed in a very major way is obviously changed. And he said these four companies are going to borrow tenor. Twelve billion. Each in some cases they're having to sell stock or the right to buy stock that takes away from the upside then a little bit after that he said. I don't know the two three years from now. That people will fly as many passenger miles as they did last year. In Twenty nineteen so in other words this business has changed so much and these companies are so deeply impaired that it makes no sense for him to continue to hold the equities. He's held things through bet. He's a publicly traded companies through bankruptcy. At least one right. Us G it was an unusual bankruptcy situation. So this really tells you. The buffet thinks that people have changed their their travel. Habits have changed and they're not gonna fly as much even when things are all opened up and who knows one would think over this time period. He's talking about two three years. Whatever that the corona virus will be a thing of the past? Nobody's worrying about it anymore. You know we'll see but I just thought it was really interesting that you know we find buffet just being really fearful not deploying capital and blowing out this position into weakness having bought it in the first place. I've never recommended an airline stock in extreme value. And I never will and I was shocked when he did it and I always wonder like how how going to work out but you know obviously not too well so the airlines and I here where he's coming from because the airlines I read today. One article said they're burning ten billion monthly as as an industry. And you know they've already gotten something like fifty billion and bail out. There's another there's more money that they're going after under this. Cares Act Law. That was passed but united like they got five billion bucks and only one and a half billion. That was alone. The other three and a half billion was a grant grant. Yeah you've heard me money. Just taxpayer money just given to the airlines. And of course they put stipulations on this thing but they've already found the loophole and the stipulation was. You can't fire anybody you gotTa keep all your employees and you can't reduce anybody's hourly pay or you can't reduce anybody salary right and I think you can't even buy back stock and other things. But they found a loophole. And you might have heard it already. And they're reducing people's hours. They don't pay them less per hour but they pay them less by reducing their hours which you know as a business move makes sense with dramatically reduced demand for this service but I can understand how nobody would want to get involved with the airlines. Who knows if the equity value is going to be anything like what it is right now impaired as it is. Let's talk about buybacks? Buffet talked about buybacks. He didn't buy back any shares in April at all they bought back a billion seven in the first quarter which is really nothing for them and basically the important tidbit here. Is that the stock to him. He says was no more compelling around two hundred and fifty thousand share than it was when he was buying it back at three hundred thousand share. What does that mean? Well it means exactly what you think. It means. It means the intrinsic value of Berkshire Hathaway's impaired at least that amount like roughly seventeen percent. I believe that is so or more bright. If it's not compelling at either a at two hundred fifty thousand no more so than than it was thirty or three hundred thousand. That's a big deal. And he also mentioned in the same breath telling you why he wasn't buying the shares back in the same breath. He mentioned the option value of cash. Right I it other words. I'd rather hold onto my cash than by back my stock seventeen percent off where I was buying back before. Wow so he did this whole thing. He started out with this whole long thing about never bet against America and he went all through history and all this stuff and he's got a great knowledge of history. It was fun to listen to it but he says all this stuff about don't bet against America in the long term and that was another thing he kept doing. Saint don't bet against long-term but he constantly throughout his talk and answering questions. He was constantly differentiating from the long term. Bet and the nearer term couple years to three years. What does that tell you that tells you that? He thinks that we are not out of the woods yet. And you can't call him barish but he's nothing like bullish. Some investors Whitney Tilson commented. He was part of the presentation and he commented said you know he went and he thought it was raining. Gold in March when the market was getting absolutely obliterated buffet obviously did not think it was raining. Gold Okay. That's really interesting. So they bought by zero in April. You know. That's that's the evidence there he said I would rather be holding my cash. And he also talked about the general idea of buying back stock because he was asked about it one of the shareholders sentence a question about it and he framed it in a really good way that. I think I think you need to hear about. He said imagine that we were just partners. In a business you know fuel vessel. Each put in a certain amount of money in the business does well over time and goes up in value and you know after many years of success one of us wants to take money out of the business. Well if your partner came to send that you say well. That's perfectly reasonable and a way to do that would be for the other partners to buy a little bit of stake and so you know. Maybe he owns thirty three percent. Let's say there are three of you and and he sells a little bit and after that hill own thirty percent or something and you you know then you'll each own a little bit more right. So that's the way he looks at share repurchases as an individual partner can choose. An individual shareholder can choose. Whether or not they WANNA participate and sell the shares whereas if he issued a dividend. It's you're forcing cash down everyone's throat and they get hit with taxes and you're taking money out of the business off the table right. I thought that was pretty interesting. And he's like he doesn't buy any of the political what he calls political correctness about share repurchases. He's a most people do them wrong. He said that consistently for a long time. You have to do them right and the right way to do it is the buy it back in a discount to the intrinsic value and he even said. You won't always be right when you're doing that. You'll make mistakes and doing that but you should still do it that way. And the steak is probably you know. He bought it back at a higher price. A billion seven worst and then he refused buy back in a lower price so he might have even talk about his own mistake and buying shares back but over time the right thing to do is buy it back at a discount. And you know you'll be right enough. If you do it over a period of many years I found all that really intriguing. Him telling US why he didn't buy back the stock and he mentioned specifically that he said you know for example.
Treasury says it will have to borrow a record $2.99 trillion in current quarter to deal with pandemic
"The treasury department says it will need to borrow a record two point nine nine trillion dollars during the current April to June quarter to cover the cost of various rescue efforts dealing with the corona virus pandemic the two point nine nine trillion it plans to borrow this quarter will far surpass the five hundred thirty billion dollar quarterly borrowing it did in the July to September two thousand a quarter as it dealt with the two thousand eight financial
Impact of COVID-19 on the hospitality industry
"Here's our conversation with the CEO of intercontinental hotels group D. for a challenging time for the industry I mean when you think about the impact that the travel restrictions social distancing borders being closed cancellation of conferences meetings and events you know we've never seen an impact the demand for the township like this no I when I look at the start of the year we had a fairly good January and February and then as an industry we saw revenues begin falling quite quickly it in March and and the impact on people's been significantly I mean this industry employees travelling towards one in ten jobs globally and so you seen millions of people in the U. S. become unemployed in a very visual creative talent and so keep help us understand how that plays through to your business you know by the numbers mean how many people have you have been affected within your company by this either temporarily or or god forbid permanently yeah so I mean we have a a model where we are basically a franchise or for most of our business right okay Mr tell that we have around the world no six thousand a really small businesses are individually owned hotel main point fifteen twenty fifty people on about four hundred thousand people who work in hotels around the world and many of those people today have been furloughed or been in being made employee and so on thankfully the U. S. impact the cash back then had the paycheck protection program which enabled the small businesses to hopefully retain a lot of the staff at the corporate level we've been cutting people's salaries we've been cutting capital expenditures really focusing on the quiddity to make sure that we can get through this very very challenging time in the industry having said that you know keep in having kind of an asset light business how is that protected you as a company overall from from falling into deeper crisis yeah it really I mean we were some of the less leveraged companies out there in this industry and because we don't know a lot of assets we have less exposure so about focus really isn't on customers and colleagues and our owners and how do we help all those different individuals and stakeholders get through this so customers been about giving them flexibility on bookings and so forth with a colleague has been helping them access the that the programs around the world whether it's the the program here in the U. K. with the government I'm basically funding up to eighty percent of someone to pay up to twenty five hundred pounds what is in the federal unemployment and local employment in the U. S. with our owners accessing small business loans that turn to grants to been very very focused on that because those are the people that being the hardest impacted and we know by looking after all the stakeholders and helping them get through this we can come out of this the stronger business and help your business but it is again yeah people talk about challenging I mean I know I've been to the financial crisis I've been through you know nine eleven and we've never seen demand drunk like this and I think and if he's going to have to think about how to come out of this and how do we work with government and we work as an industry to help businesses stay vibrant right during this time frame re open and then see what the what the new normal click going forward but we want to talk about that new normal for sure but one thing I want to ask you about keep before we get too far away from it is what the experience of your owners and your colleague said it has been in terms of accessing those small business loans because we're hearing hearing reports about availability we've heard a little bit of controversy of you know who's getting it ends not what's coming back to you as your colleagues report in well let me start by saying just just for the record I see we have not received any funds from the paycheck protection program full stop and we've been very focused on getting under there so we've been hosting webinars from day one helping owners get to these programs on it had really good success with it number of wonderful stories about hotels Holiday Inn express that was close was able to access the program and then reopen it hired staff back to sell it hasn't been perfect clearly by the think about the small business association I think process is normally about thirty billion dollars a year in the US and they did three hundred billion already in a month we'll testament to their if they're trying to help out as many businesses as they can the program need to expand you know one thing we've been saying to the government was great first then but this program is going to have to expand and be extended because it is not to be over a month be ready to go back to normal tomorrow and so we can see about the long term in health and stability of an industry it is one in ten jobs globally and in the U. S. as in the sector and so that's a lot of people who we need to look after a lot of small businesses who buy from local vendors who hire local construction workers ability to tell if it's the interconnectedness of our economy we have to recognize to make sure we can kind of help work through that together does the government understand that Keith do you think they understand that when you get on the other side what really needs to be done I think you know I've actually had a couple of calls with the U. S. said we've been engaging with the White House with the Senate commerce I mean it they really do understand that they had to move quickly they do seem to understand that they're going to have to do more so hopefully they'll be able to get the next part of the package out on but I think it's a responsibility of business to help continue to educate them on how this is unfolding the impact is going to have more broadly and also have a part of the solution to because we're trying to help out as much as we possibly can we are we are hosting frontline workers in medical professionals all around the world in our hotels no we donating hundreds of thousands of dollars to food banks in different markets around the world to help out people who are in need we're providing to a great initiative call purchase peptic first responders first giving thousand room nights to first responders who close the medical facility need accommodation I think that's what the issue how we have to rally around how can we help get through this both by supporting owners supporting colleagues also out front line workers and medical professions and keep it as you look around the world as you pointed out it is Carol point on the introduction truly a global company you probably have some inputs that other CEOs don't have in terms of how this looks on the ground in different markets around the world what are we missing what should we know about maybe some things and and the way this virus is manifesting in the economic manifestation at different points of the globe it's quite interesting use being the country's who've gone out quite quickly on testing quite quickly on contact treating and understand the use of technology to be able to really manage it and manage the economic impact of open up parts of the economy also countries with they've got very close borders or New Zealand being put out there and in a straight come quite well now so countries that have been able to act quickly decisively on testing and trying to think has done a better job Kevin economy's going they'll be critical for the US to do that and in Europe as well too and that's keep are the CEO of intercontinental hotels group joining us from London obviously Carol no business are very few businesses have been changed like hospitality right reminding us that tourism is responsible for one in ten jobs globally so it has a big impact on the global
New York City subway service to halt overnight so trains can be cleaned
"Sites now I think we're going to be in a very good place thanks to you and your team as it relates to expanding testing dramatically he told the president the state could need between twenty and thirty billion dollars in federal aid to help pay firefighters plan teachers they police came up and with EMS a plan president they can disinfect trump apparently all thought trains the meeting and buses went well every too night he said he of can Murphy best you be can't done have a by better stopping representative train service than this from man one that AM I can to five tell you AM every night the governor's daily coronavirus during the pandemic briefing will be coming up at so three they can thirty actually this perform afternoon you this service could hear it live he here says on the ten MTA ten will wins provide buses vans the and trend for continues hire vehicles in Nassau free County of charge hospitalizations for those who must get around have now during dropped those for hours a
Ticketmaster Promises Billions in Refunds for Cancelled Concerts
"From wondering. I'm David Brown. And this is business words daily on this. Wednesday April twenty. Second you know that Katy Perry concert. You're looking forward to okay. I was looking forward to it. Back in the pre pandemic era well Yeah that that's not gonNA happen at least not until twenty twenty one. She said recently. She's not alone either. Thirty thousand shows were cancelled OR POSTPONED DUE TO COVA. Nineteen so far. According to Jared Smith President of ticketmaster. That's the gigantic ticket agency. Owned by the world's largest concert promoter live nation. And it's not like those concerts and ball games are coming back anytime soon. The mayors of New York and Los Angeles don't anticipate allowing any large scale gatherings until there's a cure or vaccine for the corona virus according to variety at the earliest. That'll be late this year but it could take much longer and that uncertainty is causing a big problem for ticketmaster. The company had fantastic year delivering one hundred fifteen million tickets in thirty one countries in two thousand nineteen ticketmaster sells more than thirty billion dollars worth of tickets annually in twenty twenty was predicted to be a banner year that is until Corona virus now ticketmaster. Meinie refund billions of dollars in ticket sales late last week. The company announced that it will refund some ticket. Purchasers starting on May first customers who shows have been cancelled or who don't want to attend them on rescheduled. Dates can apply for refunds. They'll have thirty days to do so customers who shows reschedule later. We'll have a rolling thirty DAYS TO APPLY FOR REFUNDS TICKET. Masters new policy is almost exactly that of rival. Ag which announced it's refund program a few days earlier but ticketmaster is also using a big incentive to persuade customers not to ask for refunds so it can hang onto some of that cash according to variety if a show is cancelled altogether customers can take credit worth one hundred fifty percent of the ticket cost in the plan called Rock. When you're ready customers can apply that credit to an event to be held when the world opens up once again ticket masters. New Refund policy follows significant complaints from critics who claim the company's been holding onto customers money unfairly in response. Ticketmaster explained that it doesn't keep all those billions of dollars in ticket sales rather every week pays concert and festival promoters out of those proceeds so far this year that amounts to more than two billion dollars. The company said at a tweet normally ticketmaster has little trouble refunding tickets for cancelled events but when the entire concert industry shuts down overnight the company needs to recoup those funds before it can issue refunds from a corporate perspective. It's one mammoth cashflow nightmare. But it's also a nightmare for people who are suddenly unemployed and who need those refunds to pay the rent or buy groceries people spend hundreds or even thousands of dollars on concert tickets and now in the face of indefinite postponements. They need those funds back. But lack of clarity in delays around refunds is made some customers so angry that they're turning to the courts. Matthew Mcmillan a national hockey league fan in Wisconsin was aggravated that ticket. Resellers STUB HUB hadn't refunded the price of tickets to a suspended hockey game so earlier. This month filed a five million dollar class action lawsuit against the company according to Billboard magazine. Stop Hub resells about five billion dollars worth of tickets. Every year like ticketmaster in order to issue thousands of refunds. It says it first needs to recoup the cash paid to the original ticket holders in some ways stubs. Problem is even more tangled than ticket masters since its tickets come from thousands of individual sellers and think about that for a second if your brain let you the original ticket holders purchase tickets to live events that are now cancelled or iffy. Where'd they buy them? Probably ticketmaster or A. E. G. Stop up now. Says IF AN EVENT IS CANCELLED IT WON'T ISSUE REFUNDS. Instead it'll give ticket holders a coupon worth one hundred twenty percent of the original ticket price that credit will be good for a year stubhub said in a statement late in. March. By month's end the company said almost three quarters of ticket holders had accepted the credit but that class action lawsuit filed by the Wisconsin Hockey Fan. He says he bought the tickets on. The basis of stub hubs longstanding. Money-back guarantee. Now he's asking the courts to forbid stubhub from issuing those credits and force it to refund the cash according to billboard the customers lawyer accused stub hub of quote putting its hands in the customer's pockets at a time of the greatest. Financial suffering in recent history stub declined to comment on the lawsuit. According to The New York Times. The refund mess is just one of the problems hitting the entire music
"thirty billion dollars" Discussed on NewsRadio 1080 KRLD
"Eighty KRLD your news now we have an update in just a few about the latest in an active shooter situation in Milwaukee CBS news update we technically are in a state of containment in the United States despite that assessment of the corona virus from health secretary Alex ETS are Americans are concerned about the virus spreading in this country I know how easily people travel around the world today and obviously something like that is transported the Dow was down for the third day this week amid fears of the impact on the economy the travel industry is taking a hit already CBS news travel editor Peter Greenberg the first step in travel demand in eleven years we're talking about thousands of flights being cancelled lost airline passenger reviews Lebanese could actually reach thirty billion dollars or more and that's just the airline president trump holds a news conference in two hours to talk about what his administration is doing to battle the virus but aides are told Congress he doesn't think Mr trump will name a corona viruses are CBS news update on Pam called several people shot in Milwaukee this afternoon this is on the campus of MillerCoors brewing no word yet on how many are shot or if anyone has died CBS news reports a heavy police presence in the area with fire trucks and ambulances they also reporting they don't want any helicopters or drones to be flown over that site what what is next for the man convicted of killing a Richardson police officer the older brother of convicted murderer Brandon McCall told the jury today McKenney the family had a rough upbringing Michael McCall testified wearing prison clothes because he's currently serving a federal sentence Carol these LP Phillips says the testimony is an effort to keep Brandon McCall off of death row and three to one Michael.
"thirty billion dollars" Discussed on NewsRadio KFBK
"Spends thirty billion dollars a year on marketing boy the soccer news this week has been coming fast and furious we had the obviously we learned that we're gonna get a Major League Soccer team the new stadium is going to start being built is going to be a big party on Monday that's when the announcement is now there's word this morning that we may get a women's professional team here as well bring in Alex Tasker right now he is with the tower bridge battalion he is one of the most devoted soccer fans in the region he's also a producer here at KFBK Alex first of all congratulations to you and the fans you been hanging in there for a long long time long over due for the best soccer fans in the nation yeah so first of all let's talk about this the new element this morning on women's team how interesting is this what what do you know about this well I know that would they would be expanding to nine teams now the NWSL there seems in Portland and other markets with this currently MLS teams this would be the first instance where the women's he would come before the MLS team well in the market so that's kind of interesting and and you know our women's national team that has dominated in the World Cup this is where those stars kind of shine in their own right so we could see some of the Alex Morgan's are the Carli Lloyd so I will this is not a done deal there are steps that have to be take there are still a few steps come hurdles to clear parent Lee like they're in advanced talks yeah talk about the feeling among the Terebra each battalion right now so the official statement is we share the great excitement and anticipation of what's to come and that their playoff start next week for our current USL slide Sacramento Republic FC hash tag almost Los Robles so what's the unofficial word though half super happy long time coming it was three and a half years ago Garber was downtown we have the rally and he said it's not if but when and that kind of been the resonating statement as other teams like Cincinnati in Minnesota and Atlanta and there's a list go as long as you saw those cities being ticked off and getting teams did your frustration grow well you said it right ticked off yeah as we're trying to think is ever going to happen yeah at this point are we just are we just fodder for other teams like all will if you don't get your act together sacrament is gonna get and using us soon but now that it's you know the big announcement on Monday this is going to be you know great so great celebration for the city of Sacramento it's gonna be a great celebration in Major League Soccer and I think that the city is just really not thrive with another professional second as are a professional team but in another major league franchise you know and we we we should point out that a lot of credit goes to fans like Alex Warren Smith is a man who had a vision for this team a long time ago he's no longer part of the organization without people like Warren without people like you and on all of your colleagues this may not have happened New York saw how much energy there was in this market place and it's one of the huge reasons why it's happening absolutely any bring up warrants with guys like Joe Wagner Justin to blog Kelsey price people have been there since day one of really just put as they have their shirts blood sweat and tears into the steam fans as well and it's going to be great I I think this is a great thing for the city of Sacramento for second Republic of see Alex thank you congratulations well it's great I love that name blood sweat and tears right I almost expected out to have the face painting this morning on the tattoo this public tax do is there wrong I'd also like to see.
"thirty billion dollars" Discussed on WGN Radio
"He. sh in fiction okay action. but to fit the fiction. Dave I'm gonna say that is fiction. yeah. yeah yes fact fact yes Dave I say fiction. I seen either. you have to pick I think it's a fact. it is a fact it is not even close of the U. S. makes nine hundred and seventy four million dollars in paper money monopoly makes thirty billion dollars in paper this is amazing that they the United state I mean obviously the money in circulation stays in circulation until it doesn't but the fact that we only make a little under a billion new dollars a year half didn't seem like a lot yeah just isn't it still stays in circulation for songs totally random but once I did see a show talking about counterfeiters that did it by hand and it passed they were able to pass off the dollars and he did it by hand well but with the only have to do is make your orange one a yellow one no this was a monopoly kind of. so they have a different Parker brother for each color. Michael yells coming up Michael yo is that goes to the insider and CBS got a project coming up and stock up in Kevin Polish coming up Kevin and they will try to get me off the ledge with the bears no I don't think that's possible well we'll find out all right but first Dave Chicago stories told twenty four seven on seven twenty WGN Chicago smart speaker users just say play WGN radio on tune in the news sponsored by town stone financial here stickers and it gave thanks good morning everyone it's sixty eight degrees in Chicago on our way maybe to seventy four today a new study shows more than sixteen thousand Chicago public school students did not have a permanent place to live during the last school year they were homeless WGN's Pam Jones reports a study released yesterday by the Chicago coalition for the homeless shows many homeless students stayed in shelters motels or even cars during the twenty eighteen twenty nineteen school year members of the coalition are pushing for a one point two percent increase in the real estate transfer tax to generate funds to reduce homelessness it would apply to properties worth more than a million dollars advocates say could raise about one hundred fifty million dollars that could be used to address the situation Pam Jones WGN news page county judge is expected today to rule on whether a controversy all medical sterilization plant in Willowbrook can re open storage annex was shut down by the EPA in February after testing showed the facility with releasing the cancer causing chemical ethylene oxide into the air as a result more than thirty lawsuits have been filed against the company after menacing the coast of.
"thirty billion dollars" Discussed on Newsradio 950 WWJ
"Money laundering is the way clever crooks hide individually spend all of the money, they've stolen in this is a tale about what's believed to be the biggest money laundering scheme in history. It involves nearly a quarter of a trillion dollars a very suspicious money from Russia and the former Soviet Union. That was fun of into the western banking system, right, under the noses of major banks and regulators in the United States in Europe, who either facilitated it turned a blind eye at the heart of it is a whistle blower, who found one loose thread in decided to pull on it. Howard Wilkinson is an Oxford man, cautious prudent and a bit of a stickler after his cover was blown last fall in a newspaper article is the person who uncovered the scandal he has spent much of his time wandering the British countryside. Trying not to be found being a whistle blower in a case involving two t- Russian money. It's not a good place to be you're still concerned, you've got to be having the very nature of the people who want to launder money, probably means that you want to go down the pub and have a pint with, but he did sit down with us and told his tale about a financial crime. So big it's hard to fathom. And number reported for the whole thing over the six or seven years is two hundred and thirty billion dollars. Of suspicious. Money, one Bank to two hundred thirty big branch branch Wilkinson had worked there as a mid level executive for dansko back the biggest financial institution in Denmark, and one of the most respectable banks in Europe. As head of markets for the Baltics. He worked out of a branch into Lynn Estonia, the former Soviet Republic now a NATO member right next door to the Russian bear. There were tensions, but also business opportunities in Wilkinson eventually discovered his branches. Biggest business was converting Russian rubles of.
"thirty billion dollars" Discussed on KNX 1070 NEWSRADIO
"And it's emerged as a leader in innovative overdraft prevention solutions in the fintech world among other things the apple warned you before you overdraft offer you a cash advance with us. Now, Jason will the CEO and founder of Dave Jason thanks to come into line. Tell us more about this and how it's helping consumers with their banking. These days. Dave is actually the number one personal financial management in the country. How we thought that was a real need and in finance to both improve people's banking experience and improve on everything else. It was out there in ecosystem, and we found that abs- like mint were doing a good job for middle to high income, folks. But for people that really wanted to have a simple budget and really were concerned with all the Bill they're about to encourage I'll paycheck date. There was nothing out there like that same with our Bank. I mean, it was very frustrating to open up our Bank apps and find that the Bank of my what chase for thirty years, and they know about and expensive yet. They don't tell me about any of those things. And so we really built Dave to be this financial forecast. What's about to happen to your account, and that's been incredibly helpful for people to avoid over Jesse es and take control of their their financial health. Do you have a crystal ball? How does it work? How do you? How do you make those predictions? It's pretty cool. Basically, you connect the checking any checking account the US we support fourteen thousand different banks and within one one minute or able to look at your cash transactions and determine a forecast for you. And so we'll tell you about your typical Uber expenses your subscription like Netflix. All of the above. And you you can customize it as well to to your liking. So we can I got a prediction myself for for pizza every week by Tuesday, and you can put in a big company expenses, well, TV and everything kind of factors into your balance paycheck. All right. And if you do go over there's some help there too. That's right. So if you're at risk of over drafting, we found that you know, it's just these twenty dollar purchases that are triggering thirty billion dollars overdraft fees per year by the big banks. And so we we wanted to build a product that will just sort of get people back to zero puts them some extra money in their account. And so we created essentially as smallest cash advance or raise events in the country. Up to seventy five dollars putting your account to help you with a fee and for younger users. That's that's the life saving when it comes to just getting cast or groceries are things that are doing shut off. And they don't get hit with these forty dollars fees just to go by is simple as a Cup of coffee. All right. And I understand you got the attention of one of the sharks from shark tank, right? Tell us about that. That's right. Yeah. Mark Cuban actually on our directors, which is kind of a rare thing and to take seat. He's an incredibly valuable for the company, and especially with his experience, which are tank, you know, young it's such a popular show for younger people that, you know, they've they've you tend to be very funny Dhabi. And so to have his Mark on the company has been really very broad the CEO David Jason will. Thank you very much for being with us here this weekend. Coming up a big event for small business in Los Angeles. We'll talk about it with the audible, Eric Garcetti, the mayor of Los Angeles. We'll talk about the state of business in Los Angeles more straight ahead on Motech on money. This is southern California's only twenty four hour local news traffic station can extend seventy NewsRadio. Good evening. I'm John Stevens. More Motech on money is coming right up at first. Let's take a look at our top stories at eight thirty. It was the most heart wrenching sight. He's ever seen those words from a rabbi of a synagogue in Powell a day after a deadly attack was carried out on the last day of Passover. He lost a finger in the attack. But he also lost a dear friend, rabbi Israel, Goldstein says Laurie K who was killed. When shots rang out inside the synagogue was a pioneer member of his congregation and a kind human being who didn't deserve to die. The last one to see her at to be with her. But I do know that this is Lori. This is her like see an air legacy will continue as for the suspect Goldstein says he can't wrap his mind around what the man is accused of doing the nineteen year old teenager death city. The sickness the the the hatred of to publicize such semitism fest, though, how does it come to do what he did? He says he refuses to let hatred win and promises the Jewish community in power will stand together and come back even stronger in the wake of this tragedy in Powell Cooper, Rummell KNX, ten seventy NewsRadio and event that was planned at the holocaust museum in L A before the shooting empower takes on added significance. Teach the lessons, the painful lessons from our pass, the executive director, the holocaust museum of Los Angeles and tells Canucks many of the members of the museum had direct connections with the congregation powei. She says the despicable event reemphasize is the need to never forget. What happened not only eighty years ago? But in other tragedies and holocaust. Of, you know, the dangers of intolerance and dividing people and other in those around us, you know, that is what is so important to those who say they weren't involved in the past. And we need to move on. I tell them that you know, they're naive. We can't move on without learning the lessons from our past. She says we must continue to honor those who were killed in those who survived. Bob Brill can't extend seventy NewsRadio Manson follower, Leslie Van Houten. Could go free could be decided by a panel of judges. Or by governor Gavin Newsom last year governor Jerry Brown reversed a decision by the state parole board to grant parole for Leslie Van Houten, the former Manson follower convicted in nineteen sixty nine stabbing deaths of Leno and Rosemary labianca she's appealing to reverse Brown's decision. But a panel of state appellate. Judges didn't make a ruling that's because current governor Gavin Newsom has until may fifteenth to make his own decision inmates are parole every week with much worse crimes than this that the thing is keeping her behind bars. There's no question about it is Manson and her involvement with that. Then hounds attorney rich Pfeiffer the panel of appellate judges saying they need more time to make a final decision. Governor newsome's decision next month if he potentially grants freedom. Makes the case for Van Houten of appeal. A moot point in downtown, Los Angeles, Craig Vigdor, KNX, ten seventy NewsRadio. There's been more than forty percent increase in the number of homeless people counted across Orange County compared to two years ago. Officials say is because the new count is much more accurate. There are thousands of homeless people living in that county. Supervisor Lisa Bartlett says the good news is that more than twice as many homeless people are in shelters now as compared with two years ago when a short term basis, we we definitely need more shelter beds. But looking towards the long term the ultimate solution for solving homelessness is permanent supportive housing with wraparound services and that is our ultimate goal. She says new numbers won't change any strategies to help the homeless. We have traffic.
"thirty billion dollars" Discussed on KDWN 720AM
"Pinch announced. They intend to file for bankruptcy within two weeks, basically because of liabilities created by the wildfires that have occurred in California over the last two years. We still don't know the full explanation for the causes of the big wildfires that occurred in Napa Sonoma County in two thousand seventeen and in paradise and twentieth. But it does appear that was a cause. Or at least a partial cause of the fires. And at this point claims from victims exceed thirty billion dollars for the two fires combined the risk of wildfires perceived. Now is so great California. It's not clear that the company could emerge from bankruptcy as a healthy firm. Just because markets bought the bond market and the stock market are looking at PGA is a very risky investment because a fire. Customers are going to be impacted by the bankruptcy. They're going to be impacted even Jimmy doesn't file for bankruptcy, and we can expect to see rates go up because the liabilities of the company have gone up enormously duties wildfires. The company is going to be financially strained for several years. And so you might imagine a smaller workforce as well. And that's also run counter to both the safety goals and the clean energy goals. California has said so I would expect to see more of this in the decades to come. This is kind of an interesting interesting. First example. Climate change driving a human system of institutions and businesses and arrangements to the breaking point. Now.
"thirty billion dollars" Discussed on Bloomberg Radio New York
"Why we're going to spend thirty billion dollars on it. All right. We'll you cover congress. You are there all the time. You are always taking the temperature. Where's this going from here? Certainly nobody wants to shut down. But they're if they're digging in like, you said at the very top of this interview in the next twenty seconds were what's your gut? What are you hearing on the hill? Well, I think we are headed to shut down the league of some period of time. However, I'm going to be looking very closely at Dino Republican moderates people like Susan Collins and Lisa Murkowski, others who don't really see a benefit and a lot of harm potentially narrow reelection bids for being part of a government shutdown. Also be looking at Paul Ryan. He's exiting the scene. This is the house speaker. He doesn't really see his tenure ended when chaos so there could be signs of people. They are willing to put on the floor of veto-proof stopgap Bill that gets us through the holidays. And then we deal with us in January. I'm not seeing that sun yet, though, just a point of order. His tenure may end in chaos at star. Chaos. If you call. Yes, it did another time. Let's check the latest war. Thank you so much. Eric Watson congressional Puerto for Bloomberg news. Check the latest world and national headlines with Bloomberg's Potman. Let me thank you US Senator Lamar Alexander of Tennessee Republican says he won't be running for re election in two thousand twenty. He's been seen as one of the few effective Senate dealmakers on healthcare a day before the Federal Reserve begins its final rate-setting meeting of two thousand eighteen President Trump is applying Twitter pressure. He writes that it's incredible. The fed is even considering a rate hike when inflation is low the dollar is strong and the rest of the world is in his words blowing up around us Nobel winning economist Paul Romer of NYU stern school tells Bloomberg the fed needs to be left alone to do its job. They've got the best data. They're the ones who are looking past the next election cycle to and we want somebody to be doing that the fed is widely expected to announce his fourth rate hike of two thousand eighteen on Wednesday kids are taking to vaping twice as many high school students are inhaling,.
"thirty billion dollars" Discussed on WRVA
"Failed thirty billion dollars for his border wall. Not going to happen. Say Democrats are shutdown would meet so-called essential employees would still come to work, but have to wait until the shutdown is over to get paid others would stay home not get paid. But there are some federal employees who want to be at home, congress ABC deputy, political director, maryalice parks, make sure they had a deal. They don't have to stay longer. So maybe the Christmas fair will just motivate folks to get to work the right now, we're surprisingly hearing very little talk of what that actual deal might look like park says congress is likely to move quickly to get a deal done if the president can move from his rigid stance. President Trump's lawyer Rudy Giuliani on whether he would allow President Trump to sit for an interview with special counsel, Robert Muller over my dead body. But you know, I could be dead and Giuliani had a lot to say about President Trump's former lawyer Michael Cohen interview on ABC's this week, President Trump's. Rudy Giuliani blasted the president's former longtime lawyer and fixer Michael Cohen as a quote, pathetic, person and liar. This man, you will never know what the truth is he lies to fit the situation is it says Cohen's claim that then candidate Trump directed him to pay off woman who claims to have had affairs with Trump is false. He also argued that the payments weren't illegal because he says, they weren't only made to influence the election. Jordan, Phelps ABC news. The White House fifty thousand Los Angeles teachers took to the streets over the weekend with the message if they strike the school district what they'll do it. If they don't meet their demands teacher door vaguer telling ABC news that she and her colleagues wanted to concentrate on students needs we.
"thirty billion dollars" Discussed on Bloomberg Radio New York
"This happened yesterday. We didn't get a chance to talk about it. But I still want to talk about it because it's not just an a promotional event for the company and has a through on the health of the Chinese consumer and a read through here in the us on the US consumer. And of course, as you know, we're hitting up black Friday next Friday. So it's sort of a really good time to talk about all things retail than the consumer. And no better person to do that. Then Kevin Carter. He is the founder of EM Q Q. It's an emerging markets internet and e-commerce ETF. Kevin. You're joining us from San Francisco. Thank you. I want to recap held the singles event did go know was interesting felt like a push pull me on one hand they'd record sales but the growth rate in the gross merchandise value slowed. What do you make of it? Well, it was a big day sales Rover thirty billion dollars, which put it in perspective is. Close to twice as much as target doesn't a single quarter. So. A big thing. The the growth rate for the singles day sales festival has been less than the overall growth of the company by a wide margin for the last few years, and I think that will continue they had twenty seven percent growth, which is an incredible growth number. But the company overall is still growing at north of fifty percent recently. So I think in some ways the single day sort of outgrew the overall consumer market, but the consumer market remains quite strong talks me about the health of the Chinese consumer them because I know that Alibaba had a lower at some their forecasts. I believe for the twenty nineteen sales guidance. Are there concerns about the health of the Chinese consumer and does that sort of comeback here into the US or very separate? Well, it's definitely concern. I mean, the markets have been concerned about emerging markets in general they've been concerned about the consumer in China and other emerging markets. But the fact is that, you know, retail sales in China remain a over nine percent growth. So the story of the billions of people coming online as consumers is intact. You know, there's going to be times when that number faces a little bit of headwind, but the the secular story of all of these billions of consumers getting their first smartphone, which is basically the first computer getting their first internet access on that smartphone. And then, you know, basically becoming as they say digital natives were everything they do is on their smartphone. That story is is completely intact and quite strong. Kevin. What are the things I wanted to make sure we asked you about was this idea of packaging recycling because we're all. All about consuming. It feels like these days. Nowhere more as Taylor rightly pointed out at the top in China. Alibaba doing enough. There are other companies doing enough there to sort of deal with that side of the house. Well, I was glad yesterday that they actually talked about this. A billion packages yesterday. So obviously, there's a lot of cardboard going around. But but they get it there on top of it. They've talked about effective Daniels. Hang the CEO said that they have to redefine packaging, and they've they've even talked about how perhaps with some of their local delivery services. They would even eliminate packaging for certain items. So I think it's smart, I think it's important, and we applaud their focus on it. And then I'm sure they'll be a leader in making that happen. Kevin can tells quickly sites Alibaba what are some of the other internet companies that you're bullish on? Well, we're we're bullish on the space. I mean, the the you I believe the fastest growing sector ever in terms of public companies and their revenue growth, which is still growing it over thirty five percent. Ten cent is one that's been depressed quite a bit this year. That's the second largest Chinese Internet company. But there's so many this dot which is the. Kind of a newer lower ecommerce focusing on the second and third tier cities. That's almost exclusively mobile. So there's lots of companies were caught a libra in South America. There's Neander X in in Russia the same things that are happening here. Right. And all we have to do is turn on the television. Or listen to the radio any earnings curated the internet's taking over traditional consumption, whether it's fanciful services or media et cetera. All right, gotta go. Thank you so much Kevin Carter, founder of EM Kuku. Joining us from San Francisco. All right. Let's get to Martin.
"thirty billion dollars" Discussed on KOMO
"And trade, but rather a straight up tax on those that generate greenhouse gases Becky Kelly is that campaigns spokeswoman out of the top ten polluters in Washington will pay this fee and the two who are exempted are a coal plant in Centralia that is going out of business turning into a solar farm shutting down and the other is a large aluminum smelter because we need to have Washington manufacturers who produce things like steel and concrete and aluminum stay in business. Also exempt are the aviation and maritime industries big time users and polluters but Kelly says that's because federal law doesn't allow them to regulate those industries, and it's those exemptions on which critics have focused much of their campaign. Data Bieber is spokeswoman for no on sixteen thirty one. It's an unfair energy tax that would force Washington families and small business. To pay thirty billion dollars. Meanwhile, the measure exempts the largest polluters in the state giving them a free ride and pushing the cost down to small businesses at the same time. There's no real accountability for how the money would be spent because there's no specified spending plan. So what about that unelected board that we've been hearing about that supposed to oversee all the money that's coming in? It is a political appointee board of fifteen unelected people who have broad authority to spend thirty billion dollars in any way. They choose. But the yes campaign says there are several areas where the board will focus its efforts. Some of the top ones are expanding wind and solar power making our homes and businesses more energy efficient. A lot of our pollution comes from the energy use in our buildings and most buildings aren't terribly efficient providing cleaner transportation options. So yes, you know, hybrid vehicles cleaner, fuels, etc. The top contributors for the yes campaign include the nature conservancy the league of conservation voters, Michael Bloomberg and Bill Gates on the no side. It's BP Phillips sixty six the parent company of Tesoro and the American fuel and petro chemical Manufacturers Association. Jeff Pohjola, KOMO news. Apple have more on the initiative sixteen thirty one later this afternoon, and for more politics, you can all subscribe.
"thirty billion dollars" Discussed on News Radio 690 KTSM
"Right. And you know, ten years ago this morning. Ironically, hurricane Ike middleman fall on the Texas Gulf Coast was also only a category two hurricane. But it was a thirty billion dollars. Asking you folks that try out along. On the bolivar peninsula, the Texas coast, if they would do it again, they would absolutely say, no. So we urge people to heed evacuation orders. We're speaking live this morning with Jonathan Erdmann senior digital meteorologist at the Weather Channel talking, of course, about hurricane Florence. Is there a chance that this storm is worse than Harvey of last year, perhaps any of the three that made landfall last year? It's all relative to the area that affects we're not forecasting sixty inches of rain in North Carolina that was the extreme Harvey produce. But again, this could be a state record rain event. Sorta tropical cyclone in North Carolina which was Floyd which produced twenty four inches of rain in one thousand nine hundred ninety well the hurricane center's expecting up to forty inches of rain in North Carolina. So, you know, this this could be one of the heaviest rainfall events in the Carolinas that they've seen. And of course, there's also extends Appalachian. So there could be some pretty significant flooding in the smoky mountains early next week. So this is going to have a large impact, and it's gonna run reach all the way through the first half of next week boy had no rest for the weary. Either. Catch us up to date on these couple of storms that were behind Florence. Yeah. We have tropical storm Isaac is moving into the Windward Islands day listener to again, it's not terribly well organized right now. We're going to have to watch is it next week because even though it may dissipate or weaken for time the Caribbean. See this is the heart of hurricane season. Sometimes these things we could come back in the Gulf of Mexico next week. So we should keep an eye on that. There is a tropical depression, the western Gulf. There's gonna bring heavy rain to touch us not gonna develop nothing like Harvey, but cook bring some flooding rain to Texas this weekend, man, plenty to keep you busy. That's for. Sure. Jonathan thanks for few minutes as always Jonathan urban senior digital meteorologist at the Weather Channel with us live again this morning. He's been busy with us. This week. Thank him for that..
"thirty billion dollars" Discussed on Newsradio 700 WLW
"On the bridge so you. Should, expect delays the latest forecast from the News. Radio seven hundred wwl w weather center I heart radio station For the rest of the afternoon we'll see a high, of eighty one cloudy tonight and a low of sixty two there'll be some patchy fog in. The morning on Sunday but sunshine in the afternoon with a high of eighty two there is a slight chance of showers and thunderstorms developing on Monday a high of eighty one that's your forecast from seven hundred wwl w it's seventy seven. Degrees right now the search for a missing. Northern Kentucky man appears to be over. A body was found in Red River gorge this. Morning near where less Reynolds had gone missing the Florence man was on a hiking trip it was last heard from Tuesday. Night the coroner is now working to identify the body the state of. Ohio is helping parts of Clermont county affected by the Ohio river flooding and a tornado from February governor John. Casick signed off yesterday on over nine hundred thousand dollars in reimbursement, the city of Cincinnati is getting a five million dollar federal grant. Helped pay for a new western hills viaduct this is the first, grant money that will go toward. The project the county City of agreed to pay thirty three billion dollars a piece with the total replacement cost estimated around three hundred thirty billion dollars a reds updates the reds and Phillies. Again tonight a great American ballpark Matt Harvey. Gets the start for Cincinnati our pre. Game coverage will start at five forty soccer tonight. FC Cincinnati welcomes LA Liga's are CD Espanol to nip stadium for an international friendly kickoff for that match is at seven. Thirty our next update will be at two o'clock Rick NewsRadio seven.
"thirty billion dollars" Discussed on Bloomberg Radio New York
"Pellett lots going on after the bell lots of, earnings us let's. Cut right to the chase Facebook started to see the first signs of user. Disenchantment in the midst of public. Scandals over, privacy and content revenue. In the average number of people going to see the site, daily during the, second quarter missing analyst projections. Facebook shares they are lower Ford is warning investors that it is going to be embarking on another restructuring four chairs selling off after ours Qualcomm says will abandon its forty four billion dollar bid to acquire rival chipmaker annex. XP, semiconductors a barring last-minute antitrust clearance. From China ending it's twenty month attempt to complete the largest. Ever deal in the semiconductor industry. Also says it will buy back up to. Thirty billion dollars in stock visa reporting third quarter adjusted EPS of a dollar twenty, estimates there one oh nine visa beating the. Highest estimates Las Vegas Sans posting second quarter earnings. That missed, analysts estimates Mattel taking. Another hit from the liquidation of toys r. us says revenue fell for. A fourth ST QUARTER also plans to cut twenty. Two percent of its corporate workforce it is getting. Rid of twenty two. Hundred jobs NASDAQ's at a record. Up ninety one a gain narrow of one point two percent s&p up twenty five gain of nine tenths of one percent the Dow up one hundred seventy two up seven tenths of. One percent tenured on five thirty seconds the yield, there two point. Nine six percent gold up six tenths of one percent twelve thirty one the. Ounce west Texas intermediate crude of. One point, two percent sixty nine. Thirty seven a barrel I'm Charlie pelletan that is a Bloomberg, business flash thank, you so much Charlie Pellett. So many headlines as you mentioned and one that I wanted to make sure we brought to you which involves Biogen and Alzheimer's by Jenin it's partner I say are set they said today that a phase two trial of. One, of its drugs it's Alzheimer's drugs? For pay With. An early early Alzheimer's disease slowed. The progression the disease by thirty percent at eighteen months that was compared to what analysts had expected to be twenty to twenty five percent at twelve months so a pretty. Dramatic move, there and, drawing a. Lot of attention for Biogen investors and candidly that a lot of people. Out there who are afflicted Yeah no people afflicted by Alzheimer's. Significant developments DACA we've seen it bounce around a little bit here in the, after. Both higher, and lower are you're listening to Bloomberg markets Burke.
"thirty billion dollars" Discussed on News Radio 810 WGY
"A thirty billion dollars in deficit ninety they had sixty sure big problem so ge made approximately a billion dollars a year they paid eight billion dollars out in dividends right okay so when i talked to people while ago i'd say look obviously the dividend has to be they have to some point addressed the pension address putting money back in business i mean pretty obvious clean cut stuff you can't pay all of the money that you make in dividends you have to some money back in the company of core we have to pay down so in my mind i thought okay if they cut their dividend in half that's four billion dollars a year maybe they can pay back a lot of this debt or this deficit over a ten year period start working through it so if i wanted to sit for ten years i could say okay ge lives to fight another day right sure okay but now the headlines are i sold off the rails i sold up and every deal you see it's like another division of ge is gone so i say okay what do i come back with is it the healthcare company and and all those types of unknowns at this point are having a lot of people calling us saying i'm not sure what this company does anymore very true but that's different feeling than people saying jeez had tough times four they've come through you know we're gonna work this through i'm going to hold it for ten right i'll leave the stock to my grandchildren that conversation has changed it's a different vibe yeah no doubt no doubt it's not how jonathan it's a different vibe and i think that brings up from the planning standpoint as as you say a lot of these you know a lot of these concentrated ge positions even if it gets part of it started with respect to working that down a little bit right i think that can be a positive certainly yeah i mean one of the things that we've been doing just out the office right now is trying to help you with cost basis yes sure you know if you want to harvest your losses there's wash rules and things like that but you know i mean i've been dealing with clients who are coming in now in you know they've been adding through their positions for years fifteen years years ago in the fifties yep well we're now looking at thirteen so does it make sense to if nothing else sell the stock right by back in thirty days and then just say okay well now i harvest is those losses if i have gains in my mutual funds and other investments which you should have given the markets that we've had now i can diversify some of my other investments my other capital gains and use those losses from g and if i still love ge or i love the healthcare company or whatever it is that i still want to own i can go back and re by those shares in thirty days whatever the wash rule is and go back and say okay i harvest those losses but i don't wanna be in a in a high cost basis situation this stock forever hoping it comes back in my opinion you know you'd be better off when you're talking about such substantial losses harvest a losses revisited in thirty days the risk of that always what happens if something dramatic happens to stock thirty days of course but we were talking about the amount of financial losses that people have on the books i mean it's very hard to.
"thirty billion dollars" Discussed on 1150 AM KKNW
"While bowel and they will not stand for they overcame three thirty billion dollars in voted in the primary and now they're trying a different tack i will the day we got a call from one big magazine all recognised for say the nine other won't say it now all right but they gonna calls it as uh down the campaign loan needs to step down as police were called how can i just say denied have been entertaining addition of republicans running their own how 'bout this headline sean breitbart editor in chief vaca trump should stay quiet especially sit when there's so many allegations against president trump yeah yeah and while you're there oh my god we all agree that have been accused shots of up their father's a perfect here we now now i have to say i agree with breitbart that's correct graber i listen to your moral horrible don't fight you're all eerily horrible in different ways and i think when breitbart ripe are does that i think it's a setup or summaries can't help myself i don't think that's what they really feel i think they liked something against trump makes them look like see where real news we actually look and i like it yeah all right reach regional in los angeles hello rachel her out on my gosh the raid we're all rachel hollick's this morning you for taking my call like convey when this happened i wish to gyp it would men accusing him he founded so accusatory it's wrong it like i gu i look on the twitter and i saw that she's friends with hannity and she's been on hannity and um i just thought yeah she's on i mean i that's the only pointed made she's on kbc which is his station and i was on abc and it's a right wing station with the and under saying if this were reversed they would be screaming bloody murder right oh my god i just feel like it the faucet quivalent the but they're all just wrong the conclusions the same.
"thirty billion dollars" Discussed on KARN 102.9
"Kuhn of thirty billion dollars a year they consume of taxpayer dollars out of a hundred seventy one billion dollar budget gay give me a if you can and think like a progressive think like a liberal think like a left winger like governor to just think like doug jerry brown okay i live in a state which here before has been the largest most the rich and powerful state in the union california which gave us ronald reagan very conservative state and the democrats party is losing middleclass voters because of their economic and political policies it works against the interests of moms and dads husbands and wives sons and daughters to build businesses find work makes it more difficult do you think the progressive movement is saying we're giving up on the middle class in america because they're not voted for us sony more so we have we have to substitute their votes by illegal aliens and and so many others coming in new america to take the place of the middle class which is why daca is so embraced and loved by the democratic party because they want to take those dr recipients and illegal aliens in eventually make them through chain migration in all their family very loyal democratic voters do you think they're saying to themselves look we've lost the middle class begins our policies stink so let's substitute them with illegal aliens is that is that what's behind this political power absolutely because social isn't it about power it not about cost about power and control and when you look at the democrat platform i it right with socialism look at what's happening to obamacare that was preferred dap in order to socialize uh this country what that socialist coward a well now at that hasn't worked they believe we need more government do they want single payer health care with privately failed in a california legislature i guess they quit grave pack baffled toppled arctic get fat implemented uh but when you look at dapa i refer to dhaka as democrat activist and conartists uh the and the democrat graf on it but we that they.
"thirty billion dollars" Discussed on KQED Radio
"Join i would go to new york knock on the doors forever hopes who say knock knock hello hey were founders wanna meet you that's brian chessie co founder and ceo of air be envy today arab india's valued at thirty billion dollars but it wasn't always that way would inches near his we live with them an isis joke that will you ugandan an iphone steve john incomes he from your couch but i'd it brian's going to show us how house visits with his customers helped him grow his business and we'll hear from mary facing the founder of meant it says it takes a lot more than grit to get your stardom off the ground handwrapping your business before you go law that's all ahead on matsche's escape coming up after the news mm live from npr news in washington i'm chase demons the department of homeland security is unveiling new safety measures for flights arriving in the united states from hundreds of foreign airports a preview indicates the changes include tougher screening of passengers and electron iq devices homeland security secretary john kelly says there needs to be a more unified approach to aviation security this time that we raise the global baseline of aviation security we cannot play international workable with each new threat stead we must put in place new measures across the board to keep the traveling public safe and make it harder for terrorists to succeed airlines that do not comply with the changes could be forced to ban laptops and other devices and plain cabins the state department is notifying us embassies and consulates about the new criteria for visa applicants from six muslimmajority nations and all refugees the move comes after this week's supreme court ruling partially restoring president trump's temporary travel ban homeland security secretary kelly is expected to unveil those guidelines tomorrow national security adviser h r mcmaster says the president is making global alliances stronger and theorists merely reese kelly reports on mcmasters remarks at a security conference in washington where he gave assurances that the president is fully committed to nato oh mcmaster was asked why at the recent nato summit in brussels the president didn't reaffirmed the us commitment to common defence article five of the nato treaty mcmaster dismissed the omission as a manufacturer controversy i think what is clear you mentioned the presence tough our allies of what our allies but it's tough law oh okay if love that you're chuckle from the crowd and.