17 Burst results for "ariel investments"
"ariel investments" Discussed on KIRO Radio 97.3 FM
"Some 71 million Americans have been fully vaccinated for covert 19. But cases air surging in several states, especially parts of the Midwest. CBS is Nancy Chen in Michigan, the nation's latest covert hot spot. Upper Gretchen Whitmer, once the Biden administration to search vaccine supply, the federal health officials have reportedly suggested the state isn't efficiently administering it's doses. I don't think there's a governor in the country that's leaving any vaccines on the table and I can tell you that's certainly the case of Michigan. We are getting shots and arms for Michigan seven fold spike over the past few months, Whitmore blames more contagious variants and behavioral factors. People are tired and they're moving around more, and this is kind of a combination of things that has control. Get into what we're seeing is ah, large amount of communities but easy Chin. CBS NEWS New YORK number of top executives and corporate leaders gathered online this weekend to discuss what to do in response to changes system state voting laws. It is a signal that the nation's premiere businesses are preparing a far more robust, organized response to the ongoing debate. Correspondent Ed O'Keefe has the exclusive details. Attendees included Arthur Blank, owner of the NFL's Atlanta Falcons. Adam Aaron, the CEO of AMC theaters. Melody Hobson, co CEO of Ariel Investments, and the CEOs of United Airlines and American Airlines. Delta CEO was unable to make the meeting. Bob Back ish president and CEO of Viacom. CBS also attended. A spokesman for the company, which operates CBS News didn't immediately replied. We request for comment. Rally held in Southern California in support of migrant families CBS Is Wendy Gillette on what the protesters are hoping for. There are diverging views on how the U. S. Should handle unaccompanied Children crossing the southern border at a record piece one this Children to be reunited with the family. One group of demonstrators gathered in Long Beach, California in support of the Children. The city approved the use of the convention center to house 1000 of them, Organizers say they want to make sure the kids get what they need and they're protected. Most of the Children are coming from Guatemala, Honduras and El Salvador. Wendy Gillette CBS News History made at the Masters. Matsuyama is Japan's first.
"ariel investments" Discussed on Bloomberg Radio New York
"Too many observers private equity until Esther stand hedge fund investors enjoy some pretty favorable tax treatment over the years and his concern that with the by the administration coming in that may be at risk. So against some last minute deals being discussed right here for in terms of regulation, private equity in particular looks to avoid attacks it on passive investment. That's kind of one of the big issues. Let's get some data on that. Let's get some information on that. We do that with Cirie Balu Sue Bloomberg Tax reporter Syria Thanks so much for joining us here, the private equity folks again have had some pretty favorable tax treatment. What are they looking for now? So there is a move that came out last week regarding the way private equity investors would be text on investments in passive foreign investment companies, which are p six. And that brings in a whole host of problems because there's peace fix actually are subject to punitive taxes. And so any domestic partnership that has those types of overseas investments could now start seeing higher taxes. Interest charges and penalties. So how widespread is the this type of structure? Serious is something that we're looking at some serious dollars for the Treasury. Or is this more of Ah kind of loophole for selected investors. Yeah, absolutely. I think it is a widespread problem, especially for hedge funds and private act, which are often structured as domestic partnerships. So what's the feeling? I guess? From attacks perspective. Siri as a relates to the by the administration probably defined I know a lot of again hedge fund investors, Private equity investors, Maybe more more so concerned about that. They're gonna be targeted. Honor Abide Administration is that Is that a reasonable concern? Whether it's reasonable or not, I can't say. But there is definitely ah lot of trump about what a new fight administration could do to some of the more taxpayer friendly regulations that were written in You know, there's there's a new exception. Um Allowed on some types of offshore income, and that was really taxpayer friendly. It wasn't in the T. C. J. A Treasury just sort of wrote it in to bring consistency across some pre T C. J a rules. And so I think there is definitely some concern now that things like that could get pulled back. What's the political landscape of Washington? I mean, how unloved are private equity lobbyists in their brethren that actually practice the evil trade? That's a really good question. You know, I don't think that they're necessarily the most nefarious characters in Washington, D C. I think what people are more focused on is just making sure that they're taxed fairly. Um Hired to T. C. J. A private equity funds were able to defer taxes on offshore investments pretty much indefinitely and and so now it's just a matter of putting in a framework. Targets those investments in a way that that still you know, supportive of those investments and global business, but also making sure that Treasury is is getting their hands on what they They deserve. Thanks so much, sir. Everything greatly greatly appreciated Syria blue suit with this this'll morning. This is somewhat anticipated, but also Paul anticipated. Was her joining the Biden administration Melody Hobson, who has been such an influence in Chicago and where their lifelong work it Ariel Investments with John Rogers. She started there's an intern. Not a million years ago, but a number of years ago, is now the non executive chair. It's Starbucks, which I guess means she's not joining the Biden administration. Yes, but translated a big move for Starbucks. Certainly if they look too You again, You know, kind of come out to the other side of this pandemic and continue to grow that business. She's a How did the Economic Club of Chicago, among other interests associated with what surveillance does also associated with us with our news in New York City is back of bar. Down ball..
"ariel investments" Discussed on WGN Radio
"Let's go to Aaron right now, who has a look at news across the across your nation? All right. Let's start at Princeton University, the residential hall named for former President Woodrow Wilson, when I'll be rebuilt in name for alumnus. Melody Hobson hops and graduated from Princeton in 1991, now the co CEO of Ariel Investments. She also happens to be married to Star Wars creator George Lucas. Princeton decided to remove former President Wilson's name from the building because of his racist policies. Pops and who is African Americans, said she hopes other black and brown students will be reminded that they belong when they see her name on this building. A Missouri congressman is accusing Prince Harry and Meghan Markle of using their titles to interfere in the U. S elections. Republican Jason Smith It's in a letter. The British ambassador of the U. S. He called the royal couple's get out the vote video quote a serious breach of the British royal family's policy of political neutrality. Smith also called for the removal of the royal titles. It has been no reaction from Prince Harry, or Buckingham Palace High School in Pennsylvania canceled it's varsity football game tonight due to an ongoing investigations. Of alleged hazing and bullying by members of the football team. School. Officials at Mount Carmel Area High School say the incident happened off campus and the team and individual players could face consequences. The game canceled tonight will actually be forfeited today in Illinois, Reverend Jesse Jackson celebrated his 79th birthday by giving back to the community Reverend gave away free items..
"ariel investments" Discussed on KTOK
"A commission to look at ways transfer power from the president of vice president, she says it's not about President Trump that it applies to future President This bill. The Congress honors our oath to support and defend the Constitution and protect the American People. House minority with Steve Scalise. He's wanted to remove President Trump from office because She doesn't agree with the people's choice from the last election, The 25th amendment lays out the process for presidential powers to be transferred to the vice president. Some tech workers may not have to go back to the office ever, Microsoft will let its employees work from home permanently. Tech WEBSITE The verge says it has reviewed the company's hybrid workplace guidance. To allow for greater flexibility after US offices reopened. It allows employees to work from home for less than 50% of their working week or managers can approve permanent remote work. It will allow employees to relocate within the U. S with approval or outside the U. S. If it's viable for their job, most Microsoft employees they're still working from home during the ongoing pandemic. Those in the offices require access to hardware labs, data centers and in person training. GeneCo's Sola Thoughts New Residence hall at Princeton University that had been named for President Woodrow Wilson will be rebuilt today for a black woman who was a school alumna and a donor. The university made the announcement today that Melody Hobson's name will be on the building. She graduated from Princeton in 1991 and is the co CEO of Ariel Investments. In June, the university's board decided to remove Wilson's name from the public policy school and the residential college due to a support for segregation. Wilson was the president of Princeton and during his tenure band Black students from attending the construction of hops and college is expected to begin in 2023. Highly Scylla. Sarah, This is From.
"ariel investments" Discussed on WCBM 680 AM
"Nancy Pelosi backing a bill that would create a commission to look at ways transfer power from the president of vice president, she says it's not about President Trump that it applies to future President Bill Congress, honors our oath to support and defend the Constitution and protect the American People. House minority with Steve Scalise. She's wanted to remove President Trump from office because She doesn't agree with the people's choice from the last election, The 25th amendment lays out the process for presidential powers to be transferred to the vice president. Some tech workers may not have to go back to the office ever, Microsoft will let its employees work from home permanently. Tech WEBSITE The verge says it has reviewed the company's hybrid workplace guidance. To allow for greater flexibility after US offices reopened. It allows employees to work from home for less than 50% of their working week or managers can approve permanent remote work. It will allow employees to relocate within the U. S with approval or outside the U. S. If it's viable for their job, most Microsoft employees they're still working from home during the ongoing pandemic. Those in the offices require access to hardware labs, data centers and in person training. GeneCo's Ola Thoughts New Residence hall at Princeton University that had been named for President Woodrow Wilson will be rebuilt today for a black woman who was a school alumna and a donor. The university made the announcement today that Melody Hobson's name will be on the building. She graduated from Princeton in 1991 is the co CEO of Ariel Investments. In June, the university's board decided to remove Wilson Stain from the public policy school and the residential college due to a support for segregation. Wilson was the president of Princeton and during his tenure band Black students from attending the construction of hops and college is expected to begin in 2023 Sylla,.
"ariel investments" Discussed on Bloomberg Radio New York
"You're listening to Bloomberg, Best on Bloomberg radio into these Pellegrini. And John Rogers is Ariel Investments, chairman and co chief executive officer. He's a Princeton University alum, and he founded Ariel Investments back in 1983 to focus on patient value investing within small and mid sized companies. Rogers is a member of the board of directors of McDonald's, Nike and the New York Times Company and following the election of President Barack Obama. Roger's served his co chair for the Presidential Inaugural Committee 2009. More recently, he joined the Barack Obama Foundation sport of directors. He spoke with Bloomberg's Shorty Bradley at the Bloomberg Invest Global 2020 virtual conference. About the impact of covert 19 on black and minority communities, and the protests following the killing of George Floyd in Minneapolis has been extraordinarily difficult, heartbreaking time. And you know, to see so many people lose their jobs to see the market's collapsed the way they did. It's just been remarkable. I think it must be my much like 1968. When we had all the horrible riots after Dr King's death, and then of course, we got into what happened with Bobby Kennedy, and that whole year was just so extraordinarily Um, you know, hard braking for our country. This is a similar type of appearing for us when you put together the code it and the race issues. None of us are resting. None of us relax. There's just stress everywhere had interesting similarities to you know, 1968 a very hot year regarding assassinations and unrest. But does this build different in terms of any change that we may see from this? Will the change? Is it fleeting or is it sustainable? I'm hopeful they're gonna be sustainable for a couple of reasons. You know, I'm having lots of great conversations with many, many CEOs from companies that we've invested in. Two seals of the board that I'm on and the melody Hobson is on and we're hearing that the really serious about Change and asking for advice asking for council in truly listening, which is something that is unique this time. The other thing is really important. Um Of Congress. Right now, it's the most progressive Congress we've had in our nation's history, and we have people like Joyce Baby sharing the subcommittee on diversity and inclusion from Financial services Committee. You have Maxine Waters, chairing the Financial Services Committee. People have excellent, excellent staff, talented people. It gives me hope that they're going to be able to take this environment and change lives and change opportunities for African Americans from economic justice perspective, because that's what often get lost, You know, social justice important, but it's tied also of economic justice. Definitely let's talk about the wealth gap. So the median net worth of Ah white family is about 171,000 for a black family. It's about 17,000. So about a tent for a black family, according to the Federal Reserve. What does Multigenerational wealth in the role of multi general generational wealth. What role does that play in these numbers when we look at network multigenerational wealth in this country? We've been going and actually been going backwards the last 40 years or so, That is one of the key key things that I think that people really don't understand is how much worse it is for African Americans that we were 40 years ago. So we've got to figure out a way to make a dent in that problem in the way that I think we have to do it is we have to have more black business leaders in corporate America, but we also have to have more black, successful African American entrepreneurs. Because growing up here in Chicago, we had George Johnson running after machine Ultra Sheen and John Johnson running ebony and jet magazines. They were role models for folks. They hired hundreds of thousands of people. They created enormous philanthropy for our community and political empowerment for our community. We have to go back. We want to get multigenerational wealth. We've gotta have more black business leaders and more black successful entrepreneurs of scale. The lack of black executives in the C suite. I mean, for example, we only have four black men serving a CEOs of fortune 500 companies and note not a single black woman. So how do we begin to enter those spaces? I think it's a couple things one. If you have successful African American business leaders, entrepreneurs Ah, The next generation of black business leaders will come along after them. You know, it's interesting. George Johnson's son, Eric, runs the largest black company in Chicago, with the supplier to McDonald's so decisions that were made to create opportunities for entrepreneurs of generation going brought together a new generation of successful entrepreneurs. That something is important. It is also critically important that we get after Americans who are on corporate boards and progressive leaders that are on corporate boards, the whole their management teams accountable for diversity and inclusion. Tie it directly to their pay. Have a Rooney rule when it comes to hiring and make sure that when you're in that boardroom, you're confident and comfortable bringing up social justice and economic justice issues when you're in the boardroom. Civil rights agenda often gets left out. If you're not courageous enough to go out and speak, speak truth to power until the leadership of these corporations they have to live up to commitments they made around diversity and inclusion. Not just talk a good game but really execute. That's Ariel Investments chairman in co CEO John Rogers, speaking with Bloomberg, Chartier Brentley. At the Bloomberg Invest Global 2020 virtual conference coming up Bridgewater Associates Co. CEO Bob Prince says the impact of the Corona virus pandemic could last 18 to 24 months.
"ariel investments" Discussed on Bloomberg Radio New York
"I'm to these Pellegrini and on this holiday edition of Bloomberg best You hear some of the most influential conversations from the Bloomberg Invest Global 2020 virtual conference this hour we hear from U S Treasury Secretary Steven Mnuchin discussing the ongoing economic impact of the Corona virus pandemic. Plus. John Rogers, Ariel Investments, chairman and Post CEO, discusses the impact of covert 19 on minority communities and Bridgewater Associates. Cosi Ai Oh, Bob, Prince tells Bloomberg. The impact of the Corona virus pandemic could last 18 to 24 months. Steve Mnuchin is Theseventy, seventh secretary of the Treasury. He was instrumental in the implementation of the Tax Cuts and Jobs Act and leads the Treasury Department's regulatory reform efforts. Carlyle Group's David Rubenstein caught up with Mnuchin at the Leadership live at the Bloomberg best Global 2020 virtual conference here, they discuss the likelihood of another stimulus package in the United States. Let's listen in. It's something we're very seriously considering the president has been clear that we put a lot of money into the economy. We had an unprecedented response on a bipartisan basis and in the last cares bill, and there's no question That money is having a major impact on the economy, whether it's the PPP, which impacted 50 million workers, or whether it's the direct Payments of over 160 million or enhanced unemployment. These were all having an important part of protecting American workers in American business. We are beginning to discuss the different aspects of what another bill would look like. We want to take our time because number one, there's a lot of money. We still haven't put out in number two. We want to make sure whatever we do going forward is much more targeted. To the businesses that are most impacted the timing. You think that it is likely that sometime in July, a bill might pass both houses. I do that That would be the timing. Hey, and the negotiations are there are some people who think that you are not tough enough on the Democrats, and therefore some Republicans are saying, and you should have a partner Mark Meadows or somebody else negotiate, But in your view, you'll be the principal person negotiating with the Congress on this legislation. Is that right? David. I mean, let me first be clear what I'm doing. I'm doing in the direction of the president and the president's policies. Last time Mark had just come on board and I asked Mark to come up with May he was he was very critical and helping with the last bell. So we have a grained, great teamwork and he will be there with May. But let me just say I'm very proud of the fact that the last two bills were 96 to 0 and 100 to 0 out so that this isn't a question of being tough enough for not being tough enough. We had unprecedented bipartisan support. At a time when it was critical to get money into the economy and to help American workers. The parts that of the various bills passed so far, which do you think has been the most effective so far? The PPP, the unemployment insurance, the other loan programs, which are you think think, is working the best so far. All day. But it is, you know, because you you've lived through other financial times. This is a very, very different situation than we've ever seen before. Is the first time that we've shut down the entire U. S economy. Because of the virus, and we had to have a different approach. And the reason I mean a different approach was it was very important to get money into the economy quickly. Things that took four or five or six months, even if they in the long term worked better would not have been effective, so we needed to have a range of tools. And if you look at the care, Zack There were different tools that we used to put massive amounts of money into the economy. Obviously, as I just mentioned before you have the PPP had the direct payments. You have the unemployment. We also had a program for the airlines, which was was very critical. We had $450 billion that we could work with the Federal Reserve on the 13 3 facilities, and this really worked perfect The mirror announcement of some of these facilities. Unlocked the markets even without spending a penny of taxpayer dollars. It unlocked to the point where you know we've had unprecedented corporate issuance. Companies like Boeing, which I thought we're going to need to come to us in our national security program borrowed $25 billion in the market without putting a penny of taxpayer money at risk. So right now, Would you say that the legislation that your past is working reasonably well, What would you say The Fed has done as good a job as you would like them to do they have in lending program, which I think has not yet actually spend money. And can you say whether the president is happy today are happier today with the SEC cricket with the head of the Federal Reserve. Well, I think I think the Federal Reserve has done a phenomenal job. We speak to them almost on a daily basis. These programs are a combination. Of work of the Federal Reserve and the Treasury. And I think we've worked very well together. Every single one of these programs is now up and running. So we have a municipal bond program. We have money Market program. We have a commercial paper program. We have a main street program that's now up and running. We have a corporate primary and secondary. We had a program that lend T banks and non banks for PPP loans. So the Fed acted in unprecedented response. And, yes, I think you've seen the president is very pleased with what the Fed has been doing. That's US Treasury Secretary Steven Mnuchin with David Rubenstein and coming up more from Rubenstein's conversation with Steven Mnuchin. Discussing the US recession sparked by the Corona virus pandemic..
"ariel investments" Discussed on Bloomberg Radio New York
"Next few hours that we've got here on this Thursday we're gonna talk about how and when we are going to get back and how we will be different as a result of that yeah and to be just incredible voices I John Rogers obviously wanted the money industry's leading African American figures he found it Ariel investments almost four decades ago he seen a tremendous number of things eager to catch up with him and one of the questions we're gonna ask it is exactly what Michael McKee was just talking about which is this wealth gap it's so important to understand the income gap that's a whole different thing to different things and it's it's really important understand the differences there so we'll talk about that also Christmas at at the of Hilton it's going to be back with us looking for that as well yeah but Hey open up the hotel industry in another edition of B. W. talks will get to that cats wake also a friend of the show going to be back with us presidents week equities it's all about commercial residential real estate and as we start to see the country reopen New York reopened he's gonna weigh in on that and then we can also hear from your speaker of the house Nancy Pelosi on the civic unrest around the nation really maybe what needs to be the policy response to all of that absolutely so all of that is ahead that's here on today show I know it's gonna be a fight is already excited aren't listed the Bloomberg business week by the day in the meantime it's one number that tells its last days number Carol is four hundred and fifteen thousand it she snapped it right out from under you didn't check classic Riana against the backdrop of the last couple weeks this is kind of hard all right singer and make up mogul Riana you know who she is she has signed a four hundred fifteen thousand dollar lease for summer rental in the Hamptons and this is in the New York Post it's eighty nine hundred square feet it's a waterfront mansion it's in the hamlet of the North Sea it has five bedrooms up there before her death she ends yeah Khloe take the Hamptons back in twenty fourteen so happened we are not happy about that let's just put that out there not that re re will be there this summer if you want to stop by for a barbecue in the meantime let's head down to Washington.
"ariel investments" Discussed on Squawk Pod
"At that for all sorts of things. I I agree with Becky. I think specifically talking about hourly wage earners and say that is that's priority number one hostage commonsense of look. We should make sure that people aren't incentivized to still go to work. If they're if they're sick we we should make sure that people are getting sick. Leave for them. As president trump said yesterday for things. It's not their fault. We want them for the Public. Good to stay home and not risk infecting more. People shouldn't do that without pay for that. And and I think the president's economic team should walk in with a chart of the Dow Jones transports and there's the reason why you have to support the travel industry Obviously the market is telling you a story there. That's that's a particularly ominous one. I also think there are other measures that they need to enact here to make sure that investors are not discouraged to investing. You actually want to encourage at this point investing in the stock market you could take the 401k annual limit you could raise that to twenty five thousand dollars you could take the capital loss on an annualized basis. That's been three thousand dollars for a capital loss. Since the last forty years you could raise. That's twenty five thousand. You could take salt limits. Which are ten thousand? You could raise those twenty five so I think there are a unique things that you do specifically to your point targeted to let's encourage investment in the bucket limits. I mean it would help a lot of people on the coast where you've seen potentially some of these things but I don't think that's targeted enough raising the salt limits on things and also if you take all these moves that look like you're only helping the stock market. I listen helping. The stock was the stock market encouraging. assets and investment into assets has been part of the story for the last ten years the wealthy. But you're also seeing the inequality of effect that has come in. As part of that too I would say that the moves we took during the financial crisis led us to the point where you had many people feeling like. They were not part of the part of the system. That was getting Bernie Sanders. I think if you look at some of those things you look back on this one. I have to say because I think it's politically palatable to be helping investors at this moment. Italy has expanded travel restrictions to the entire country at this point in an effort to try to control the spread of Corona virus. Let's go live to Rome. Nbc's Claudio Levin is standing by in joins US right now Claudia. What can you tell us about the difference between today and yesterday? There's a massive difference of course because last night and until last night the only section of Italy that had these massive restrictions of move movement restrictions was the north while last night the Prime Minister Julian dramatic press conference said that those restrictions will be applied to the whole of the country including of course. Rome was does. What does that mean? Well the prime minister is telling all Italians or sixty million of them not to get out of their houses and unless they have a real emergency either for work or a medical emergency and they even have to that in case somebody stops them if they are moving around even in their own city by having self-certification form that says who they are where they're coming from where they're going and why the fine if you break. The rules is two hundred fifty dollars or even three months in prison during that press conference. The prime minister said that that these are desperate times that the future of the country depends on Italian. The sense of responsibility in at least until now. It looks like they did. Listen because I'm sending here the colosseum usually one of the most crowded places not only in Rome in the whole of Italy and it is fairly fairly quiet fairly empty. Mostly tourists are here. So there is a big difference. Italians trying stay. Put their staying at home on unless it's really necessary for them to get out plotted. Thank you very much. The presidential campaign season continues. There's some newest and analysis this morning. Joe Biden's tax plan and who would fit the Bill Robert? Frank joins US right now. He has more of the Good Morning Robert. Good Morning. Becky will. Biden's plan would raise taxes by four trillion dollars over a decade with most of that paid by high earners in companies. That's according to a new study from the Tax Policy Center Biden would high tax revenues by eight percent in total every income group would see a tax increase. The middle class would see an increase of about point four percent but the top they would see by far the biggest hiked the one percenters within average tax increase of about three hundred thousand dollars a year in their tax rate would jump by twelve percent to forty two percent of the top point. One percent those people making more than three point six million dollars a year they would see their tax rate jump by sixteen percent to forty seven percent and nearly three quarters of the increase in taxes under his whole plan would be paid by the top one percenters and the bottom ninety percent of Americans there would bear less than seven percent of the total cost. A Biden's plan calls for rolling back. The trump tax cuts bringing the corporate rate up to twenty eight percent from the current twenty one percent and he would tax capital gains the same as ordinary income. For those who make more than one million dollars a year that means the capital gains tax. Which is the most important for? Investors would go from twenty percent to thirty nine point six percent and he would apply the payroll tax income over four hundred thousand dollars now. His plan is less than a quarter of the cost of Bernie Sanders plans sanders. Plan would total more than seventeen trillion dollars over a decade guys back to you. Yeah Watching a lot of the predicted stuff. Joe This morning. Trump reelection is at about fifty or fifty one. Cents and Biden is about forty eight cents. That's that's pretty close the generic even though we'd probably sanders now sanders is so down. I mean for Michigan. They're like he's talking about maybe winning Michigan Ninety two cents for Biden in Michigan. Which is today. And I think he's single digits for the nomination at this point but for generic twenty twenty who wins Republican or Democrat. That moved that flipped yesterday to fifty three cents. Democrat forty eight or forty nine Republican now. It's back fifty one fifty something like that. So it's all corona virus. It's unbelievable yeah. You wonder how that's GonNa shape the primaries and the election and you know the tax thing is if you start to have a true economic slowdown you're going to see a decrease in tax revenues at the state and federal level. And what will that do to how they're gonNA make that up? Are they going to raise taxes of certain pundits on the left? They're trying to call it. The trump virus in its this. This is Katrina things like that. So it's I mean there are working overtime on on trying to work it. Okay Robert Frank you. This one baffles all of us. It's inexplicable investment platform Robin Hood suffering its third outage and dazed or yesterday's Marc morial angry investors. Who couldn't trade during Wild Day? In the markets the platform was down shortly after the opening bell and partially restored by ten thirty. Am and then though at around three thirty PM. We had problems all over again. This is one of the sort of more baffling things happened in the marketplace especially during these historically and also times you have young people who have used this to get into the market. We all thought this was a great thing because it was bring young people into retail investors into the game. Tell them repeatedly and now they can't they can trade and I'm worried that it's going to push that full group out of the market. There's GonNa be lawsuits left and right lawsuits loose lawsuits of the key. They're going to get pushed out of the market to somewhere else interesting. Every it's this business caused free trades everywhere else in this business couldn't do it. Hey Okay but that's a great environment for investors in if they're not able to execute on their business model then they're going to face the challenge of significant lawsuits and the customers are going to find a home to Becky's point somewhere else where they're gonna go for zero could be a TD. There'll be a e-trade the well now the together with Morgan Stanley and everglades. They'll be welcomed with wide open arms will be next coming up on squawk pot a Saudi Russian oil price war. Saudi Arabia has pledged.
"ariel investments" Discussed on Squawk Pod
"Squawk pod. The Corona virus is shaking the world. The president is planning a stimulus and the markets are all over the place. We were sitting at all time highs on February nineteenth. We've come down nineteen trading days the Saudi Russian split CNBC Contributor Halima craft on. What's at stake in an all out oil price war there? We're getting to that type of situation where the Russians are essentially saying. We're going to target sale. We want Shelter Rollover I. This could be extended downturn in twenty twenty thirty seven years of market drama experience Ariel investments chairman John Rogers. We're there eighty-seven buying bargains during that crisis. We were there in two thousand eight early. Two thousand nine buying bargains. We think this is the opportunity to buy those stories. Plus what's a hoped-for recovery without some alphabet soup? Is this a you? Recovery is at a lower case fee or an upper case fate. I'm CNBC producer. Katie Kramer. It's Tuesday march tenth. Twenty twenty squad. Pod Begins Right now becky by in three two one good morning everybody. Welcome to Squawk box here on. Cnbc we're live from the Nasdaq market site in Times Square. I'm becky quick along with Joe. Kernan and Andrew Ross Sorkin. Our Guest House is Joe. Terranova from verdicts investment partners. He's also a CNBC contributor. And it's great to see you here. This morning Becky I step on the pod market turmoil again today Tuesday. Us stock markets are pointing to something a rebound after a two thousand point drop Monday. The steepest single-day declines the two thousand eight financial crisis and historic decimation of oil prices. The Dow S and P and Nasdaq each fell more than seven percent. Monday and the speed of the decline kicked in circuit breakers a literal halt to the markets just as the trading again. Here's what that sounded like on the floor of the New York Stock Exchange live on. Cnbc up there you see See the cessation in Texas circuit breaker whom the bell tolls trigger. That was the first time since. Nineteen ninety-seven that circuit breakers kicked in an effort to slow down some of the panicked selling the garden variety corrections twelve and we got a pandemic. What what's what's a decent We're about maybe towards got an additional eighteen or nineteen percent yesterday. Ah Eighteen or nineteen you once again. If it goes from Europe a thousand a day you will once again be the call of the bottom you will be. I'll be right there and I wouldn't be surprised but it's just consensus. It's just it's just a feeling that everyone has at the same time that you express that's all it is and that many times. That is a contrarian indicator but I don't know what do you more to go or well. I understand the focus on the equities market. It's right Connotes going to default Treasury Yields Treasury yields they're zero yields have been the leading indicators where equities are going. I think yesterday we got four. We got down to thirty one points yesterday. Okay we are now back to seventy two basis points which is exactly where we were on Friday so that is a very indicator and treasury yields have been leading the equities market and all risk assets since the middle of January if you go back to January fourteenth January thirty first while the equities market wasn't concerned about the corona virus and potential spreads the United States. What was telegraphed at that? Point Treasury yields that were melting. Lower financials at that point topped out. I think the first place that you have to identify if you're going to see stability and I like what I saw yesterday from yields. It's the velocity of these moves. That's been so shocking to kind of watch all time highs on February nineteenth. We've come down. Nineteen trading days twelve trading day. So there's been five instances on Becky's point in terms of velocity where you've experienced during the course of one week a decline of greater than ten percent. Obviously the largest one was. You were down eighteen percent from October. Sixth the Vo Eight to October Tenth of Oh Eight. The other instances obviously or eighty seven two thousand and two thousand one. You lost eleven percent in the last week of February so the question becomes everyone believes in Aviv recovery. And if you look back. At all these instances all these instances there is a recovery. You have to identify you have to identify is it. Is it a lower case fee or an upper case fate? And that's the question so I I saw some nuts yesterday at least in some industries where people are asking. Is this a you recovery for these particular industries where there's a big fear factor so the u? Recovery really only happened after two thousand two thousand one because you had the DOT com bubble burst cruise ships again anytime soon but you had the DOT com bubble burst. Then you have the experience of nine eleven and then you had that you recovery. That's multi years to recover eighty-seven it took two years to recover and an OA. It took five years to recover the experience. I think most people are trying to identify with right now. Is December of two thousand eighteen? That's okay five months to recover so markets are moving much faster. I think we're getting acclimated to a different type of marketplace. And let's understand this biological in nature but let me ask you. We've never experienced. Ask You this the question that we yesterday that I still don't know the answer to which is what do you think? The markets think in terms of duration and extent scale of the problem here in terms not necessarily of the health scare unto itself which is real but the fear factor and how many people are not going to either be going to work. You're going to restaurants getting on the plane and you know markets discount. Things that you're saying here is what we've been talking about for three weeks winning but we haven't but I would argue that up until the past week. There was a view that somehow it was not gonNA come here in some meaningful way. We'll see an escalation in the number of cases that are reported here in the United States where I see an escalation on desensitized to that but I think for the investor at home. There's an interesting perspective here of how you have to treat this because it is happening so fast you have to have the Warren Buffett mentality and treat all of this as a passive investment. Let me explain what I mean by that. If you're invested in private equity right now are you seeing? Is it visible to you? What's going on in your investments? It's not if I said to you Andrew. Your House is going to decline ten percent over the next week and then in the following three months could go down another ten percent. And you're GONNA say Joel. I'm going to sell my house so I think the investor at home has to understand this intrigue it passively and I think we're becoming more financially literate that we're getting to that place. The markets get emotional and we emotional. What's our total number of cases? Everybody that walks by me. I think Scott now I mean I want I don't want anyone coming via there's five hundred out of opted all of my freakish sort of Dan's washing and pure rally. Have you seen video of toilet paper? What's what's the toilet paper. Things run out of other things that make do with food waters. Some you know toilet paper. That's the because there were shortages in Japan because we watched it play out. In case instance. All right I'll figure something out. President trump now says he's going to be meeting with Senate and House Republicans today. The ones that aren't self porn TND to discuss a possible tax relief. Measure in response to the corona virus. We're seeing the Senate is going to be meeting with house. Republicans Mitch McConnell Everybody and discussing possible payroll tax cut or relief substantial relief very substantial relief. That's a big. That's a big number We're also going to be talking about hourly wage earners getting Help so that they can be in a position. Where the not gonNA ever miss a Paycheck Wall Street Journal reports Peter Navarro and Jared Kushner pushing for a payroll tax cut. Now while Larry Kudlow and Treasury Secretary Manucher calling for targeted measures aimed at helping workers without sick leave and businesses facing virus related disruption and latter camp payroll tax. Doesn't help anybody. Who is not getting paid? Because they're staying home because they're suddenly their tips have disappeared or anything else. But that's how I make Jason for making that case says so they tried. They did this back when when he was advising. President Obama. Wish it had done more. Maybe all of these things I mean. I still think that we're going to have a conversation about bailouts of industries. That hasn't even begun yet. But I think you're GONNA get targeted.
"ariel investments" Discussed on The TED Interview
"Today. She's the president of Ariel investments. A company that manages funds with more than ten billion dollars. And she sits on the board of several major American companies, including Estee Lauder and Starbucks five years ago. She married movie director. George Lucas and became a sought after voice in Hollywood. She has experienced so many tears of live. And is that for the perfect person to talk about how to be calibrated in every arena of society? Melody, you'll joining me from San Francisco, I'm so happy to get to talk with you. Thank you so much for having me. I'm delighted to be here. So I like to start with a little more about your background. Could you give us a picture of you as a child what it was like growing up? Well, I grew up the youngest of six kids, and I'm really young and my family. My oldest sister is more than two decades older than me. And I have one brother four sisters and a brother they were very fond of saying that I wasn't planned. They used to make jokes all the time about the fact that they used to say that I was found on the doorstep. And they were when you have a sister is twenty five years older than you're near five years old, you kind of believe them, and it was very funny. I mean growing up I joke with people I didn't have a chicken breast. Until I was like an adult. I thought wing was the chicken. And so, you know, just when you're the youngest kid, you kinda get the last of everything, but it was a great family and a great life. And even though I was the baby of the family. I was very independent and self sufficient, I was born focused. I mean, I really was I was one of those kids who came out of the womb very much with a sense of of direction and very much of a sense of what I wanted to be in a lot of it was based upon the fact that I didn't wanna be poor that we live this life was that was very up and down and sometimes we had an okay existent. And sometimes we didn't and we used to get evicted and our car used to get repossessed and our phone used to get disconnected. And we were literally that family that had the bounce check on the wall at the store, and because of that I was desperate to understand money. Which is why it's not an accident. I'm in the financial services industry, and it's probably not an accident that I had this search for truth and Justice because of some..
"ariel investments" Discussed on Bloomberg Radio New York
"Cruise, and, I'm Zanna. Palmer from Bloomberg, world headquarters Ilan musk has changed his mind tesla won't be a private company after all In a blog post yesterday the CEO scrapped his plan to take. Tesla private are remarkable reversal more than, two weeks after blindsiding employees and investors with the idea in a bombshell tweet the news is unlikely to end to scrutiny of the tweet from the securities and, Exchange Commission is p. five hundred index climbed to an all time high yesterday just. Two days after the current bull market stocks became the longest one in history the NASDAQ. Composite, and the, Russell. Two thousand index is also closed, at all time highs Charlie Bob. Rinse Goi vice chairman at Ariel investments says records aren't reasons to be nervous. Back, hitting records is really not some reason to be nervous. About the outlook yes and. Five hundred rose twenty four points for the week nine tenths of one percent the Dow gained one hundred twenty one points or. A half, percent and the NASDAQ gained one hundred twenty nine points this. Week one point seven percent United continental holdings is flying over to another index it is transferring. Is listening to the NASDAQ from the NYSE United continental go keep the UAL ticker and. The, transfer will, be. Effective September seventh Papa John's international, jumped, four point six percent yesterday. After a report the struggling pizza chain has hired Bank of America and Lazar. To, help find ways to stabilize it's operations Papa John's saw. Sales sink last month after. Founder John schnatter resigned as chairman over the use of a racial slur this news gas was brought to you by national realty..
"ariel investments" Discussed on Bloomberg Radio New York
"World's first beer hotel. Is opening in Ohio known as brood Doug's doghouse the Columbus will feature a beer tap in each room and a shower beer fridge and each shower I'm Martin And, I'm, Susanna, Palmer from Bloomberg. World headquarters Elon Musk has changed his mind, tesla won't be a private company after all In a blog post yesterday the CEO scrapped his plan to take. Tesla private are remarkable reversal more than, two weeks after blindsiding employees and investors with the idea in a bombshell tweet the news is unlikely to end discreet knee of the tweet from the securities and Exchange Commission is p. five hundred index climbed to an all time high yesterday just two. Days after the current bull market and stocks became the longest one in history the NASDAQ. Composite, and the, Russell. Two thousand index is also closed, at all time highs Charlie Bob. Rinse, Goi vice chairman at Ariel investments says records aren't reasons to be nervous backs hitting records is really not come reason to be nervous about. The outlook s and p. Five hundred rose twenty four points for the week nine tenths of one percent the Dow gained one hundred twenty one points. Or half, percent and the NASDAQ gained one hundred twenty nine points this. Week one point seven percent United continental holdings is flying over. To another index it is transferring. Its listing to the NASDAQ from the NYSE SE United continental go keep the UAL ticker and. The, transfer will, be. Effective September seventh Papa John's international, jumped four point six percent yesterday. After, a report that struggling pizza chain has hired Bank of America and Lazar to help find ways to stabilize it's operations Papa John's saw sales. Sink last month after founder. John schnatter resigned as chairman over the use of a racial slur his news gas was brought to you by national realty. Developers of, prime New York Hoboken Philadelphia and Delray Beach real estate up. To twenty percent return properties see them at I dot net Global news twenty four hours a day on air and kicked out on Twitter powered by more than twenty, seven hundred journalists and analysts in more than one hundred twenty countries I'm. Susanna Palmer this is.
"ariel investments" Discussed on Invest Like the Best
"Because now when we talked managers we we understand there in louis c with alignment as we see where their goals are and we can we can easily have conversations what are your favorite you've described one which is a dollar salary and three or restricted stock that's pretty straightforward other other recurrent indicators of good alignment that you look for in businesses there has to be level of integrity there and integrity is based off of again it's actions now believe somebody on the on their words look at their actions so how are they aligned other incentives that we like to see are restricted stock units getting pushed directors at a much higher price share price not just blinds options on just blind issues you know where you're going to stick to it but you have goals you have mile markers there where that manager incentivize to create shareholder value now that's positive and that could be negative because you wanna make sure that they're not shooting for the stars and so there there's a little balance of saying hey you are lines but we want to make sure you're taking smart shots on goal and not just trying to hit grand slams which it could have a negative effect what are some other features of this small world where i was gonna ask before how much you care who else hone owns a stock when you're looking at it this is something we've become kind of interested in which is what is like the the profile of all the other owners is at retail investors is it hedge funds as it is to capital do care about that and you see anything different in that regard like ownership profile down in the small and micro kept space than what you're used to maybe with like an apple or you know big cap stock yeah you see a lot less institutional a lot more retail a lot less hedge funds and again a lot more retail and i think there you know i say that but there are big firms out there that have tremendous amounts of money and they understand the value of small microcapsule they will actually own a good portion of these these companies ariel investments is one of them.
"ariel investments" Discussed on Capital Allocators
"Looping hello i'm ted site he's and this is capital allocators this show is an open exploration of the people and process behind capital allocation through conversations with leaders in the money game we learn how these holders of the keys to the kingdom allocate their time and their capital you can keep up today by visiting capitol allocators podcasts dot com my guest on today's show is kim lou the vice president and chief investment officer of carnegie corporation where she's responsible for the investment and oversight of the corporations three and a half billion dollar foundation kim joy carnegie in two thousand seven after spending dozen years at the ford foundation she's also a trustee of ariel investments the board chair of the stevens cooper schools and a member of the investment committees of the girl scouts of america and the aclu last year institutional investor awarded him the endowment and foundation cio of the year our conversation covers the american dream story of kim's parents kim's path to picking technology stocks and venture capital managers at ford foundation two very different models of successful foundation investing a blow by blow of the creation of an atypical co cio seat at carnegie responsibilities that cio's hate idiosyncratic investments committee meetings that foster longterm thinking evolution of a form team of managers risk taking an investing in life and what to do when you turn fifty years old please enjoy my conversation with kim lou as you know had a bunch of conversations of the bunch of cis and it turns out that i have yet to find any chew cio's that have the same background of course and you are clearly no exception to that rule so why don't we start for you early early on right and i just i love hearing all the way birth maybe even your parents my parents that's a good story so my other is a chinese immigrant from canton guangzhou he came here to the united states through hong kong and canada when he was about six years old and very stereotypically his family owned a grocery store and a cleaners in harlem where he met my mom who lived in the housing projects across the street from the grocery store that he worked in and lived above when he came here with.
"ariel investments" Discussed on Bloomberg Radio New York
"In part on a referral from special counsel robert muller president trump says he'll decide in the next twenty four to forty eight hours how to respond to last weekend suspected chemical attack in syria that a un security council meeting today us ambassador nikki haley said russia can stop the senseless violence in that country arizona is sending two hundred twenty five national guard troops to the mexican border as part of president trump's push for up to four thousand troops texas and new mexico are also sending in their guard california hasn't decided global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries now let's check the markets and the latest business headlines thank you nathan it was an update but the rally in stocks faltered in the final hour trading on word that federal agents raided the offices of president trump's lawyer equities finished higher on the strength of gains in technology shares that bore the brunt of last week's tariff induced decline charlie bought brin square is portfolio manager at ariel investments the last five years of a straight line up is just not normal and there's gonna be bumps along the way and the two big ones are what everybody says which is trade wars and inflation on days when you get signs that there's more inflation worry about higher interest rates and markets down on days when our president tweets about trade wars the markets go down and i don't see either one of those issues going away and so there's going to be more volatility home depot says customers are willing to spend more on home improvement bloomberg television caught up with chairman and ceo craig manure this morning in atlanta so overhaul gdp estimated to be two seven two eight which is great and then for housing housing has been a tailwind for the home depot for the past several years so if you think about new household formations we're getting back to bottle up one point two million which is a positive for the business compared to where it was obviously in the downturn of seven and eight on trade tensions robin brooks is chief economist at the.
"ariel investments" Discussed on Bloomberg Radio New York
"The feeling is mutual connecting decision makers to a network of news and financial information twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries this is bloomberg radio now a global news update syria and russia say israel mounted that deadly chemical weapons attack on a syrian air base others on the ground say they saw syrian warplanes deliver the chemicals correspondent kaitlan collins reports with congress back from break and a new national security adviser syria will certainly be the topic at the white house today the president is going to hold a cabinet meeting this morning and then he will be briefed and have dinner with senior military leadership all the while the united nations security council has called an emergency meeting on syria today the oklahoma teachers walk out is entering its second week thousands of educators remain in oklahoma city calling for ten thousand dollar pay raises and increased school funding well tariffs are not a negotiating tactic with the chinese at least that's what white house trade advisor peter navarro said on nbc's meet the press the varo said the us is losing its strength even as china grows its economy asian markets rose today despite uncertainty about the us china tariff dispute i'm evan haning bloomberg markets carolmassar charlie brisco of ariel investments weighs in on market volatility placenta microsystems founder scott mcnealy is back with an update on his new social media platform way today at two eastern on bloomberg radio mobile business news twenty four hours a day half bloomberg dot com the radioplus mobile app and on your radio.