35 Burst results for "forty billion dollars"
Singapore's 'Grab' Super-App Goes Public: Stock Will List on Nasdaq
"Ride hailing food delivery and digital wallet super of southeast asia is going public on the nasdaq singapore's grab says it will merge with special purpose acquisition company or spec the deals nearly forty billion dollar valuation makes it the biggest smack deal by far and means that grabs valuation has more than doubled in just eighteen months as the pandemic boosted demand for its services. The deal is set to close in july
From Ride-Hailing to Fintech: Grab's Journey in the Fast Lane
"Fact fever is heating up to a brand new level here. Grab holdings asia's biggest. Ride hailing and food. Delivery company is looking to go public a merger valued nearly forty billion dollars now. This would be the world's largest back deal ever completed and a major milestone for the frenzy that has swept financial markets the move also means guys grabs valuation has more than doubled in just eighteen months. Have a listen to anthony towns on squawk box earlier. We category leader in ride hailing in food delivery and in mobile payments. And you're talking about a hundred eighty billion addressable market here. Now when you think about how we've grown We've really grown and grown sustainably
From Ride-Hailing to Fintech: Grab's Journey in the Fast Lane
"Fact fever is heating up to a brand new level here. Grab holdings asia's biggest. Ride hailing and food. Delivery company is looking to go public a merger valued nearly forty billion dollars now. This would be the world's largest back deal ever completed and a major milestone for the frenzy that has swept financial markets the move also means guys grabs valuation has more than doubled in just eighteen months. Have a listen to anthony towns on squawk box earlier. We category leader in ride hailing in food delivery and in mobile payments. And you're talking about a hundred eighty billion addressable market here. Now when you think about how we've grown We've really grown and grown sustainably guys. Here's how i see it growth growth everywhere and not a prophet to be seen as anthony. Ten laid out. This is not the uber of asia. It's ride sharing. Its food delivery and key here. This is also a significant fintech company that works with regulators in singapore and beyond if the fact john that it's not even profitable and isn't expected to be so until twenty twenty three even though it's a so called super app begs the question that i know we ask often here as can the gig economy ever be profitable and i'm talking not adjusted dot profitability net income. Not that lhasa. I don't care about profits with this not yet not yet. I mean in. You know this new job better than others we were. We were in singapore almost a couple years ago. I remember meeting with anthony tan more than five years ago over in new york and really what they are is so much. More than ride hailing food delivery. The really are that kind of almost china style app of everything in your pocket. Leading the way to more digital commerce and particularly post pandemic as more and more businesses especially local ones need to move digital and that links into the you know the tourism economy all of that carl opening up the possibility for fresh modes suspending grab has an opportunity certainly in southeast asia which is under penetrated when it comes to technology and commerce to really be a big part of the infrastructure there.
Federal Budget Deficit at $1.7 Trillion... So Far
"The federal deficit mushroom two point seven trillion dollars in the first half of the latest budget year which started in october. That is a new record for the time period. The deficit was made higher by stimulus spending to aid the pandemic recovery for the comparable six month period last year. The deficit was seven hundred. Forty billion dollars
The Natural Gas Boom Appears To Be Going Bust
"Son natural gas as the bridge fuel to a net zero energy future but the rapidly emerging climate solutions mean. That bridge is getting shorter fast. I'm npr chief. Meteorologist paul hutton. Her and today on climate cast is the natural gas boom going bust. Justin mccullough is an independent journalists covering the finances of the energy transition. Hi justin welcome to climate cast. I paul thank you very much. So big companies like shell bet big on natural gas what are emerging solutions to the economics of natural gas. There are two main challenges to show all the people who had bet big on the future of natural gas and specifically liquefied natural gas. Renewable energy now can produce electricity for lower costs than natural gas. Fired power straight up competition. The other issue is there's oversupply right now. What level of investment are we talking about to get into these projects you know when shell bet big on the future of natural gas they in two thousand sixteen. They bought a company for over fifty billion dollars in two thousand and nine exxon company for over forty billion dollars. Exxon has since written off the majority of that forty billion dollars as a loss and it now appears that shell is facing similar problems with its fifty billion dollar investment in natural
Neil Patrick Harris And David Burtka Talk About Their Relationship
"How old is the house. Nineteen zero five. Wow i it's been everything from a speakeasy for mill workers to a music school for girls to a single person occupancy and when you think it was a brothel is just wishful began to wonder where in this five storey house. Would we have our talks. Who's the decorator. David has better taste than i do. So if we ever have disagreements about Interiors it usually comes from a financial standpoint in that. I tend to say dude. We have dogs and two small children. We don't need a forty billion dollar rug. So you're the sort of decorator in your the accountant. Then they led me into their red velvet screening room with rows of quickly theater seats. Just like an old hollywood. What a fitting place to chat with these two actors. What kind of marriages did your parents have. My parents were together until my mom passed away years ago. And your parents. My parents are still married. And they've celebrated fifty plus years of marriage so they've always been only together with each other so because you were gay. Did you think you wouldn't have that. I thought that i was going to be alone or single for most of my adult life. But i had a random path from adolescence into adulthood because i ended up being on a television show when i was fifteen years old and so all pre puberty through puberty. When you're figuring out what turns you on i was. I felt a bit under a microscope of television. And so i didn't have the freedom to randomly hit on somebody or go to a bar. So i i was by myself a lot and had a fantastic group of friends in los angeles. Who knew everything about me. But i just i just wasn't dating. I had never even showered with another person till i was in my late twenties so it was all new to me. And what about you. Deeming i you know. I didn't know what i wanted to. Until sort of i got into college and then after college living in new york i you know i saw lots of different relationships than men having babies and having a family so i i always knew that i was going to settle down and be with someone and stay with someone and have a family and kids. Once we started dating. We never really stopped so we didn't date lots of people while we were dating each other and then decide. We just started dating moved in together. And we've been together ever since same. Sex marriage wasn't legal at that time and and it seemed like a potential but not an inevitability and so we were more conscientious of what wording we used to call each other. I just didn't like the word partner for some reason i just. I still think that's a very strange way to it. Eliminates any sense of lava lover of or some only rome antic lake invasive of your life lover eighties and boyfriends very juvenile was forty calling. Fill my boyfriend and to seems like it's short lived like we've just met together for years. So is it better half and then and then once the marriage thing happened it happened very quickly but we didn't want to get married because it was suddenly allowed to get married. We wanted to get married to get because we wanted to get jeweler already in a committed relationship correct and that was and did you get kids. I just didn't want to go to the courthouse. With a with a hundred other people and people holding up signs and other people picketing and refers i. It's an. I don't want to get married in context owning remember with my family right in italy when it's legal and it's not a big deal. The nice thing about destination wedding as you can easily reduce the number of people. You've been very small weddings. Only forty seven people. We've got married with thirty five and it wasn't a great wonderful. The nice thing about talion wedding or a any italian trip is that everything is so delicious there. Yeah and what we're was testing this rueda. Yeah the mountains in a one of the things that i've noticed because we've been married forty years. Do you count from the day that you started dating or from your barrier wedding. We're counting from the day we got married. We met three years before but we knew immediately. I mean we. We fell them up. We went we went to dinner. We went to bed. That was it was it. That's because we're gay. We count from the day a reverse day because then you add ten years dog enga- years fifty years. We've been together.
Alibaba Share Fall Under Regulatory Pressure
"Alibaba shares falling today. After the company's web browser was pulled from app stores and china the move follows comments from chinese president. Xi jinping calling for increased scrutiny on big tech she sang regulators. Need to fill in gaps and loopholes when it comes to chinese tech companies dan. You're saying that one of the worst looking charts and the market is of h chinese tech company. And it's alibaba. I mean the news flow has been downright horrible for months now the stock has been very volatile If you look at it right here down from i think about two seventy five to just about two twenty six to twenty seven right here sitting right on a massive technical support. Look at that chart. It's a massive head and shoulders formation. Here really has to hold here. The news flow has gone from bad to worse. I'll leave that For tim but it seems like the chinese government is seriously looking to clamp down on this company and some of their entities. And i just think you want to be careful below those recent lows below two twenty. I get that really clamping down a harshly would be cutting off your nose to spite your face in way because these are these are national champion companies. Tim at the at the same time. They are requiring alibaba to do things like divest. Some of its businesses like ant financial that could really transform these businesses. And how they're valued. Yeah i actually more worried about this I you know alibaba media assets including what they hold in some american companies like twitter. But also billy billy which is a online video gaming platform it's a forty billion dollar company mean. The these are part of the nuggets of value. That i i actually like in owning alibaba so i'm not surprised that the regulator actually needs to do their job. I'm not surprised that they're they're doing. They're they're slapping on the risk. Call it the companies that have been front running the government. But it's the entire china tech sector. That's under pressure and the irony of this is is that this. Is you know where we were fighting. Many of our kind of geopolitical wars over the last couple years with china really control the internet called the next wave of technology companies which china wants to put them out there. I i don't run to the door at these levels. I gotta tell you to twenty very big support on bobbled
Survey: Americans Could Spend Up to $40B in Stimulus Payments on Bitcoin
"And today we're talking about why americans are poised to spend up to forty billion dollars. Indirect stimulus payments on bitcoin. I however let's do the brief. I on the brief today. We have to do a little price talk. It was another weekend and another milestone. Unless you were dead or completely off the grid you know that. Bitcoin hit sixty thousand dollars. In fact it spent some significant time over sixty one thousand dollars now. The prices subsequently come back down a little bit. There was a set of cascading because people insist on trading with a huge amount of leverage and the popular narrative around the small dip from today is that it's just profit taking and certainly when we've seen such a meteoric rise up it makes sense that that would be the case for me. I don't care so much about the price. But what i do care about and what i find. Interesting is the psychological impact of the price. It took three years to get back to twenty thousand after it was first reached in twenty seventeen. It took just three months from when we hit twenty thousand this time around to jump three x two sixty thousand of course in that sort of extreme scenario. You're gonna have a bifurcated response. They're going to be many. Who see this as validation or even who get off the fence because the asset has proved itself others are going to double triple quadruple down on their frantic critique and man did i notice a lot of boomer macro guys their crap on twitter this weekend. Lynn alden seem to as well tweeting. Bitcoin bear twitter. went from. It's a bubble and dead technology pumped up by tether to america will ban it before it displaces. The dollar is global reserve currency and i support this i e the banning of certain property and literal information rather quickly while regulation and state attacks are a long known risk factor for bitcoin. When bears talk like this about the asset. It ironically sounds more bullish than when bulls talk about it bear starting to view it as that much of a threat as ever. This price can move around quite a bit. But it's certainly does not feel like this area that we're at in the forties and fifties and all the way up past sixty thousand. Feel like mania. It just feels like the consistent and relentless pressure of more people trying to buy a thing that they're just that much of
Despite Delivery Service Concerns, Instacart Doubles Valuation Again
"If you feel like you've been throwing a lot of money grocery delivery services of late. You're not the only one instacart just got well. Many cartfuls of money from its existing investors. This latest round of funding marks the second time the company has doubled its valuation since the beginning of the pandemic instacart is now estimated at a whopping forty billion dollars. Not hard to figure out. Why investors are betting on the service. Instacart was a lifeline. For many when everything started shutting down because of the covid nineteen pandemic the service was away from any to avoid going to the grocery store and the inherent risk of that formerly mundane chore and others got hooked on the convenience of it all. Why go to the store when you could just order up the groceries on your phone and have them delivered to your house within a couple of hours before those benefits consumers were willing to pay quite the premium instacart charges as much as nine dollars per delivery or you can pay one hundred bucks a year for unlimited free delivery on top of that grocers pay ten percent per order which is no small amount in an industry where margins usually average two percent or less according to forbes grocers like acne costco wegman's and others have formed instacart partnerships even kerfuffle over the service firing employees. Who wanted to unionize wasn't enough to stop this carts momentum speculation about the company going public and when is swirling with one reuters reports saying instacart might even avoid a traditional ipo an opt for direct listing in which companies go public without raising money through a stock sale but going public is always a bed of roses just ask competitor jordache which went through an ipo in december. Even though the company has agreements with mega retailers. Like seven eleven and cbs. In addition to its restaurant partners and beat its fourth quarter revenue estimates to boot jordache stock dropped because of its big losses due to ipo costs and stock related compensation according to cnbc citron research called door dashes ipo. Quote the most ridiculous of twenty twenty and said the stock was not worth a fraction of its price. The main concern about the valuations around these delivery. Service companies is. What happens after the pandemic with vaccinations. Well underway hopeful new. Cdc guideline saying that we can hug mom and dad again with caution will consumers still be willing to pay more for convenience on a recent earnings call. Jordache leaders reported still seeing growth in areas where covid restrictions have been eased a hopeful sign for the future at instacart the companies using its windfall to secure deals with a broader retail base. It has recently struck deals with big lots staples and walgreens to name a few. So even if you do wanna head back to the store to pick out your own meat and produce you just might keep turning to the delivery service to bring you that. Inexpensive sofa were case of copy paper ordered and with the universe of retailers. Out there who knows what new ways the company will find to deliver the goods
Inside Biden’s $1.9 Trillion Stimulus Bill
"Start right there with a pass of that. Covid stimulus bill in the senate on saturday night. I do need to preface this by saying it does have to pass the house again because there were some changes made by the senate so it's not passed into law just yet but we'll go for what this bill will include when it goes through the house and i'm going to try my best to sound like i'm not rattling off just a bunch of dollar amounts but there's a danger. It might sound like that but just bear with me. There might be something in there that would be useful for you. Your family someone. So for helping the unemployed it extends that three hundred dollars a week plus the state unemployment end it makes the first ten thousand two hundred dollars of that non taxable for households making less than a hundred and fifty thousand dollars it also fully funds cobra. Health insurance premiums so that employees who have been laid off can remain on their employer plan for free. There's also going to be another round of checks fourteen hundred dollars for a single taxpayer. Twenty eight hundred couples indy. Get fourteen hundred dollars per dependent now the starts to taper off at seventy five thousand for individuals or one hundred and fifty thousand dollars for couples ended completely gets phased out at eighty thousand dollars for a single tax payer and one hundred and sixty thousand dollars for a couple it gives state and local governments three hundred fifty billion dollars to cover expenses related to covid through twenty twenty four gives schools one hundred and thirty billion for k. Through twelve in forty billion dollars for colleges and that's to help them reopen safely so parents can get back to work for businesses. they'll be twenty five billion dollars going to restaurants and bars. This max out at ten million dollars per company in five million dollars per location additionally there will be seven point two five billion for the paycheck protection program once again forty. Six billion dollars will be going to state local and federal governments to help with testing and contact tracing as well as fourteen billion dollars to help speed up. The vaccine distribution for healthcare there will be financial assistance for aca affordable care act premiums and this is just looking to get the number of people covered by insurance to increase into further incentivize. The south to expand medicaid since they're sort of the holdouts town there. The republicans are blocking that there are also increases in tax breaks to parents who have kids up to three thousand dollars per kid if their age six to seventeen and thirty six hundred dollars per kid if they're under six years old and that spread out over the twelve months according to analysis this plus the fourteen hundred dollar check would cut the number of kids in poverty by more than half. In addition there's changes to the earned income tax credit for this year in extends to people without children. And if you're looking for how much that would be for low to moderate income folks. It'll be somewhere between five hundred and forty three dollars in one thousand five hundred and two dollars. Lastly in the rental and homeowner category it gives thirty billion dollars to help low income and unemployed folks afford rent and utilities and at the state level states and tribes get ten billion dollars per homeowners. So all in all. I think thing that really struck me. Was this tweet that i saw saying that. Isn't it kind of crazy. That biden asked for a one point nine trillion dollar stimulus deal and he got a one point nine trillion dollar stimulus deal like i think that makes biden a pretty good politician. One of the main criticisms of obama was at he started out by compromising with republicans and gave them the compromise offer in the first place instead of starting out high. You can't say that for biden so far in this could be a sign of good things to come but like. I said they're hoping that this gets signed into law by the end of the week after the house passes it sometime this week.
Apple positioned to offer cryptocurrencies: RBC report
"Rbc's got a new guy following up all and he is coming on strange apples. Three dot over and part of a note from abc analyst. Mitch steve's taking over the apple beat from robert muller. According to steve's note fundamentals apple remained secure with cash flowing business related to iphones peripherals computers and services. But what he really likes is the money. Apple could make in cryptocurrency not mining not buying but using apple wallet to let its installed base of one point five billion devices and the people who use them into the game the way the analyst sees it if apple decides to enter into the crypto currency exchange business multibillion dollar in we think the firm could immediately gain market share and disrupt the industry while simultaneously making the usa a leader in crypto for the next ten to twenty years if only two hundred million of those one point five billion got into crypto currency steve stingers that potential revenue opportunity would be an excess of forty billion dollars a year
Is Student Loan Forgiveness A Good Idea?
"Right now on the. Us government federal balance sheet there's loan receivables over a trillion dollars of student loan debt sitting there as a receivable for the fiscal year ending nineteen total assets of the federal government worth three point nine trillion of which one point one trillion was direct student loans. But here's the thing. Three point nine. Trillion in assets twenty six point nine trillion in liabilities. The difference the deficit is twenty two point nine trillion dollars. The us government is effectively insolvent. It does more than its assets. And if the us government road off four hundred and forty billion dollars of student loans it would just increase the level of insolvency. It would not sink. The government by any means the education department according to some private consulting work that they contract it out understand what the potential losses are on their student loans found. According to a report by the wall street journal that losses on the one point three seven dollars of student loans outstanding at the time this report was compiled would equal four hundred and thirty five billion dollars. Only nine hundred and thirty five billion would be paid back and that didn't include about one hundred fifty tonnes originated by private lenders that are guaranteed by the government each year. The government lends a hundred billion dollars to students to cover tuition to more than six thousand. Colleges and universities doesn't look at credit scores or the field of study or whether students will make enough after graduating to cover the debt. The wall street journal article reported that between two thousand five in two thousand sixteen four intent student loans. Most of them federal went went to borrowers with credit scores below the subprime threshold. That's assuming they actually had a credit score. Which at the time. That i took out my first student loan which i'll talk about a little later in this episode. I didn't have a credit score. Nor frankly i know what i was doing. But here's the thing. The consultants found out that a major driver of those losses were students. Who went on some type of income driven repayment plan. An income share to wear they only had to pay a percentage of their income and ultimately the loan could be forgiven after a number of years. If a loan isn't paid back in full because the payments are based on income in income isn't growing and ultimately the alone is written off after twenty years or so then that will lead to a loss in addition that study found that there are millions of other borrowers that would default on smaller amounts typically less than ten thousand dollars after the drop out of a community college or a for profit college one of the comments in this wall street journal article on the private consultants conclusion regarding the potential losses. For the us government. Student loan program is that taxpayers would be on the hook for this if the government off four hundred and forty billion dollars of student loans. Us government would receive less interest income and principal payments annually interest if we assume a five percent interest rate on one and a half trillion dollars of student. Loans is is only about eighty five billion dollars. now. I say only because total. Us government revenue is three point four trillion dollars. Interest income from student loans is only about two and a half percent expenditures in fiscal year. Twenty twenty six and a half trillion dollars. The deficit was three point. One trillion fourteen point seven percent of economic output or gdp nominal gdp and fiscal year. Two thousand twenty was twenty one point two trillion dollars. This deficit was fourteen point seven percent of that number the highest since the great financial crisis where the deficit was nine point. Eight percent the highest deficit ever was in nineteen forty three at twenty nine point six percent of gdp. The us ran three point. One trillion deficit in twenty twenty and the federal reserve increased the amount of treasuries on their balance sheet essentially funding that deficit. Two point two trillion dollars is the additional treasury bonds that the federal reserve bought so two point two trillion of the three point one trillion dollar deficit. These student loans are tiny percent of what the government is spending much of which the federal reserve financed indirectly. Veterans are didn't just give the money to the treasury. they went through the county mechanism of buying treasury bonds. But that's what happened. The federal reserve created the money out of thin air to purchase treasury bonds to plug the deficit now when i started hearing about forgiving student. Loans cancelling them. My impression was the student loan. Burden is as high as it's ever been. That students are struggling tremendously compared to when i took out student loans in the late eighties and early nineties. What i found was the average student loan and again this is based on data from marc canter wits. This is just the average student loan balance for graduates with bachelor's degree when they leave school in one thousand nine hundred nineteen ninety-three. It was ninety three hundred dollars. Forty six percent of students had student loan debt. That's about how much i had little over ten thousand dollars in student loans. When i left graduate school today. The average student loan balance is twenty nine thousand nine hundred dollars just for students. With bachelor's degrees sixty nine percent of graduating students have student loan balances. That amount going from ninety three hundred to twenty nine thousand. Nine hundred was a four point. Six percent annual increase. Now that's a burden no doubt and if it growing at four point six percent it's growing faster than inflation yet if i look at what students are making when they graduate in nineteen ninety-three or year after they graduated so in nineteen ninety-four an engineer. Starting salary was thirty thousand. Nine hundred dollars. A humanities graduate was making twenty one thousand three hundred dollars so if we compare that salary to the amount of their debt engineer made three point three times. The amount of student loan debt they had and the humanities major may two point three times the amount of student loan debt they have if we look at what engineers typically make coming out of university. Today it's close to seventy thousand dollars or about two point three times the amount of their student debt back in one thousand nine hundred. They made three point three times the amount that they owed now. It's two point three times so they own more relative to their salary but the interest rates are lower now. So they're able to handle that. But it's not this huge change that i had expected for the humanities graduate. They went from earning two point. Three times Student loan balance to one point eight times now. Part of that is pell. Grants which are grants given to low income students to essentially pay for school. I got a lot of pell grants when i went to school. That program has only grown about three point nine percent per year the maximum payout amount per student so it has not grown as fast as student debt levels. Now we can say well may be. College graduates are able to find jobs. The unemployment rate for recent graduates was five point one percent in nineteen ninety-two it was three point. Nine percent before the pandemic hit in february twenty twenty and so a greater percentage of recent graduates had jobs in early. Twenty twenty then back in nineteen ninety-two now. The unemployment rate at least in september was nine point one percent according to some data from the new york fed which suggests that yeah Graduates are struggling to get jobs. It is harder today than it was in nineteen ninety two but not that much difficult. And i don't recall calls to cancel student. Loan debt back in the early to the mid ninety s
Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes
"Amazing new article in the new york times featured interviews with several bitcoin millionaires who living the high life. If not for the unfortunate fact that they lost their passwords and can't access their bitcoin. One guy in san francisco reportedly has two hundred twenty million dollars in bitcoin that he can access using small hard drive but he only has two more tries to guess the password on the hard drive before it locks him out forever and crips its contents around one hundred forty billion dollars. Bitcoin seems to be inaccessible in the same way in an apparent consequence of bitcoins unregulated
Nvidia's $40 billion Arm acquisition to be investigated by UK competition regulator
"Watchdog in the u. k. Plans to investigate invidious proposed acquisition of the british chip designer arm and nvidia announced plans to buy the company for forty billion dollars from softbank back in september. The watchdog is inviting third parties to give their opinion as to how competition would be impacted by this acquisition arm. C yo had said previously that he's expecting regulators to look into the deal invidia. Today is more than fought four percent. It was added to cities catalysts. Watch list all the semi today are in the green the sock semiconductor. Etf is up at new highs right now for
Nvidia's $40 billion Arm acquisition to be investigated by UK competition regulator
"The uk's competition and markets authority launched an investigation into invidious planned forty billion dollar acquisition of arm. The regulator will look at how the acquisition will impact competition in the uk and if it gives our incentive to withdraw raise prices or reduce the quality of its intellectual property licensing services to in videos
Congress overrides Trump's veto of defense bill
"Trump's veto of a defense policy bill a first by lawmakers since he took office nearly four years ago ensuring the measure becomes law in an extraordinary new year's day session the republican controlled senate easily ten to the veto dismissing trump's objections to the seven hundred and forty billion dollar bill and handing him a stinging rebuke just weeks before he leaves the white house. The eighty-one thirteen vote in the senate on the widely popular defense spill followed an earlier. Three hundred and twenty two to eighty seven override. Vote in the house. The bill affirms a three percent pay rise for us troops and guides defense policy cementing decisions about troop levels new weapons systems and military readiness personnel policy and other military goals house speaker. Nancy pelosi said the sweeping overwhelmingly. Bipartisan votes in the house and senate delivered a resounding rebuke to president. Trump's reckless assault on america's military and national security instead of keeping americans safe. The president continues to use his final moments in office to sow chaos and undermine now security trump vetoed the defense measure last week saying it failed to limit twitter and other social media companies. He claimed to a biased against him during his failed. Re-election campaign trump also oppose language that allows for the renaming of military bases that honor confederate leaders rhode island. Senator jack reed. The top democrat on the senate armed services committee called trump's veto a parting gift to russian president vladimir putin and a lump of coal for our troops.
In a first, Congress overrides Trump veto of defense bill
"Congress overrides president trump's veto of the defense bill it was the first veto by lawmakers since president trump took office nearly four years ago the user eighty one the nays are thirteen two thirds of the senators voting quorum being present having voted in the affirmative the bill on reconsideration is past the objection to the president of the United States to the contrary not withstanding any extraordinary new year's day session the Republican controlled Senate easily turned aside the veto lawmakers dismissed trump's objections to the seven hundred and forty billion dollar bill and handed the president a stinging rebuke weeks before his term comes to an end Shelley Adler Washington
President Donald Trump has vetoed the annual defense policy bill
"President trump has vetoed the annual defense policy bill demanding that lawmakers at a provision against social media companies the defense bill which includes pay raises for troops and seven hundred forty billion dollars in military programs and construction passed with broad bipartisan support now with the president's veto Oklahoma Republican senator Jim in office says the bill is absolutely vital to national security saying our men and women in uniform shouldn't be denied what they need house speaker Nancy Pelosi called trump's action an act of staggering recklessness president trump is offered a series of rationales for his veto including a demand for limits on social media companies which he claims are biased against him his veto sets the stage for the first override vote of his presidency in its final weeks Jackie Quinn Washington
"forty billion dollars" Discussed on KQED Radio
"Improve postsecondary educational outcomes for underserved students through evidence based innovation learn more at ECMC foundation dot org and the listeners and members of KQED public radio eighty eight point five FM I'm Dave Freeman morning edition continues at five forty six this is morning edition from NPR news I'm David Greene and I'm Rachel Martin the European Union is closing its borders to non E. U. residents the travel ban will last for thirty days and it's aimed at slowing the spread of the corona virus pandemic movement within the EU will still be allowed with individual nations free to use their own discretion to mitigate the crisis and here's rob Smith joins us now from Berlin to talk about this a rob good morning what other details can you share about this move by the E. U. and why is it happening now so the EU has officially imposed a thirty day entry ban for non US citizens and exception service are citizens of Great Britain Norway Switzerland and Andorra as well as third country nationals with long term residents rights in either country as to why now as we've seen Rachel the threat of this pandemic and the response to it from individual countries is changing on a daily basis and there was consensus among you leaders that together they needed to take drastic action like this to slow the spread of this pandemic and let's not forget too that the U. S. closed its borders to EU citizens last week so European Commission president or some of the underlying explained why this is happening yesterday and here's what she said this is an external shock and it hits the whole world we have never had that before the enemy is a virus and now we have to do our at most to protect our people and to protect our economies so what about with in the E. U. I mean how are they the member nations trying to stop the virus from from spreading from one another well this is of course a very big topic here in Europe each member state has made its own decisions on closing its own borders and to whom it will close borders too and this has caused a bit of chaos within the U. you know the issue is set up like the US people from one member country can freely travel to another one in in these internal border closings sort of threaten the freedom of movement and in a broader sense the cohesion of the E. U. itself European Commission president underlined strongly condemn these internal border closures yesterday urging member states to open their borders again so that people who are stranded within the E. you are able to go back home and so that commuters especially health workers who work across a national border able to continue to do that but so far we're not seeing much of a reaction to her criticism in many borders within the E. U. remain closed many European countries have fallen back on fending for themselves in the sense so the big news here in the US today is the financial package that the trump administration is asking for from Congress a trillion dollars to deal with this is the E. U. thinking about something similar it's not a trillion dollars here but if this is a big concern you know the E. U. was looking forward to a year steady growth but now it's clear that it's heading towards recession you know across the continent shops restaurants tourist sites are closed supply chains are frozen soccer matches cancelled the stock market has plunged last Friday the ECB the European Commission launched a strong economic package to help businesses and families you know putting aside more than forty billion dollars to handle the fallout member states are also passing stimulus packages of their own here in Germany the government is set aside its budget surplus from last year to address this but apart from his H. P. packages and you know the E. U.'s focus on stopping the spread of this virus and helping those who are infected by it and it's launched a public procurement for gloves masks ventilators you name it that they're going to need as this crisis involved NPR's rob Schmitz reporting from Berlin we appreciate it thank you thank you.
"forty billion dollars" Discussed on C-SPAN Radio
"A program that's forty billion dollars in debt by the way in all this and all this other money I mean all the money is going toward building back and focusing on rebuilding in harm's way we have we have this this discussion on going in a country where you know we use terms like resilience and coastal sustainability that's a good one I'm not quite sure what that means but you know the notion beings that we can engineer our way out of these problems we can we can do various things we can elevate our our houses we can white in our beaches and we can we can build levees or in the case of the I like we can build a gigantic surge gate in front of the Houston ship channel in close off the other two passes down there and then why did the beaches of building twenty two foot berm or a seventy mile long seventeen foot levee and build a levy on the backside of Galveston in really haven't thought about all this stuff having been around the coast and watched it and looked at it what I can tell you is that most of the stuff at best is going to buy you time I might buy you two decades might buy you three decades but it is not going to save you in the long run if you have three feet of water by the end of the century and more likely you're gonna have it sooner than that on most of our islands what that means is that those barrier islands good portions of them are going to be under water twice a day at high tide in accessible only by boat not to be able to drive to your beach house that's that's the future like there staring at if you look at the rain bombs the kind of rain events that we've seen in Houston and you look in the mail just a couple weeks ago Florence in Wilmington North Carolina a year ago this is one thing that you can point to unequivocally say yeah.
"forty billion dollars" Discussed on Capital Allocators
"To the head of Mitek industrial construction equipment business in search for how the businesses grown over the subsequent time since the last time we met I see the same people each year, and we have a chance to hear the businesses going. Well, it's very viable business and understand how it works. I was together the management of Mitek at one point and from the far corner. There's enormous mass of people coming towards us. And it was the very front if it was one man just one man, and it was Bill Gates board member an extraordinary. Berkshire. He came straight up to the head of my tech. And any said how you doing fine. Did the guys call you for Microsoft? He was trying to work on the issue relating to the product that they had said. Yep. We talked to that just terrific, and they shook hands and keep up the good work as the board Bevere might say an off. He went with the five hundred people following around. Well, those five hundred people didn't in any way intrude on the conversation that I had before Bill showed up. Up nor did it diminish. The insights shared by watching how he interacted with the head of that business. And so I spent a lot of time there that's the best. Now, you also have a reaffirmation each year at the annual beating about the core principles. I order valued principles. Whether it's Charlie monger, saying something like, you know, you must remember that the things that made you great in the past may longer be the things that allow you the state great today or much less become more great later, and that Berkshire were in the business of becoming more great later. We have to recognize that just because the way they did business. One way doesn't mean that it's going to be the same way, including for now that that was Charlie's observation around the appearance of IBM in the portfolio and sure enough IBM was a complete dud. However it allowed for them to begin the journey to technology and some time later instead of six billion dollars position in the dud IBM, they have a forty billion dollar position in apple and they were willing to make that journey because of the coroner Charlie shared at the meeting and the sort of Eureka moments at the high order insights, I really frequent when you tend the meeting let's just dive in a little on say my tech. Do you research each individual business to the best you can over the years? Just take my tech as an example. How did you first start learning more than just what you could read in the annual letter about my tech while they had a booth and that that booth there is a CEO at the time who ran is a public company, and we talked and so it was the first time you spoke to him. You think gosh, it would've probably been I would suspect nineteen ninety five to nineteen thousand nine hundred and we talked he said, you know, this is a very interesting. Company and we were starved before because they're owned by a Scottish company that was milking them and came onto the market. And there was an auction in affirm that I knew from Ireland the construction equipment business claims to outbid Berkshire for the business. But for one reason or another the deal went to Berkshire. And so over the years, I followed the Irish company, and then I follow. Berkshire. And so I had information coming from a variety of parts as to what the business often what the business offer was a software package that allowed construction yards to create the structures that are that are required for certified building activity, and the automated it and they had all the information stored as to how many feet between each outlet. You have to have your house what the proper debts are for the frames and all the rest and that information was resident. In a software that allowed them to empower local building construction sites in the way that just wasn't available before and so- groove..
"forty billion dollars" Discussed on NewsRadio KFBK
"Biggest issue though, this time tomorrow morning is probably going to be fog fifty four in Davis right now fifty three in Loomis, and we have fifty four in Sacramento. Time now is seven fifty two is NewsRadio KFC K checks your money with Kelly brothers of Genevieve's, Burford and brothers. You hate to see any marriage. And, but at least it seems like Jeff Bezos and his wife have, you know, they're going out amicably. Yeah. No. They're printed. A statement is very amicable. You might say the they even say that if they had known they were going to separate after twenty five years, they would still do it all again. So, but Jeff basil says white MacKenzie are divorcing. And so which is, you know, Amazon's Jeff Bezos wealth, the Basil's family has become the richest family on planet earth with a net worth of somewhere around one hundred thirty one hundred and forty billion dollars. But all that is just just money, but they do have four kids together. And they say they will remain the best of friends as far as taxes. You'll be interesting to interested to know, perhaps that the IRS will start. Processing tax returns on January twenty eighth so refund checks will not be delayed. The IRS has employees currently furloughed will return to work market overall, very close to the flat line as we await some resolution or some hint as to what is going on in U S China trade relations, Dow up forty four twenty three thirty one NASDAQ up seventeen sixty nine fifteen the s&p flat as a pancake at twenty five seventy four up nearly two percent above fifty dollars a barrel. Again, gold up five ten year. Bond yield two point seven two percent. All right. Thank you Kelly. The time is seven fifty four a US trade delegation is heading home from China. Today's trade talks have wrapped up, but there.
"forty billion dollars" Discussed on MAD MONEY W/ JIM CRAMER
"Seven, and as you know, it's game changing technology. We're putting into the market, and that's what's really allowing us to position to win and deploy our capital efficiently. Okay. Speaking of deployment of capital, a lot of people are pretty gloomy, Greg. I think that stock market they can't make money how about what would have happened. If you own Boeing the last six years both repurchasing dividend. What been waiting been a big focus, obviously on cash generation at the core of the company cash generation and L say officiant ineffective deployment. So we bought back about two hundred and thirty million shares over the last five years and increase the dividend by about three hundred twenty five percent at the same time. We've put about forty billion dollars into the business through that you really innovation and as well as capital and overall productivity tools that we put in place. So a balanced I'd say deployment, but been very consistent with our with our deployment effort and very much doing what we said, we'd do which first and foremost starts with executing to our plan and delivering strong cash flow and deploying that cash flow in a very efficient manner. Okay. You repurchase program. New twenty billion what recession up from eighteen billion approved last December. But the stock is higher. Why? Would you increase the map? Yes. We just look at our free cash. Flow opportunities going forward Jim in the year over year growth profile that we see we thought twenty billion dollars match that continued growth that we see going forward. And we asked our board for that authorization, which they gave us as well. As again that twenty percent increase in the dividend. Okay. I was looking Canaccord Genuity piece on Boeing saying the lion air tragedy. And it's a terrible thing. The fallout continues to weigh on the stock is there. Anything new can tell us about the lion air tragedy and any impact on the company. Now, Jim I mean, obviously, we're deeply saddened by the tragedy lion air waves heavily on of course, the whole Boeing family here. And as you know, you know, safety is at the core. Value of what we do and we've done and we'll continue to do going forward. So we're working whether customer and working with the investigation team in the authorities, and and really again, but really? Working with them to determine the root clause. And we'll continue to do that till the investigation is complete. Okay, greg. We had Jim mcnerney on a couple of times and former CEO at one point. I asked him. I said look this rival Airbus is he going to Yale to harbor as it like Dale versus Harvard. He said, no, it's not like that at all. Whereas the rivalry right now. Well, I say we have a competitive edge and look at the competitive marketplace in and we're mindful of what the competition is doing not just today. But I think where we think they're investing going forward and the services they're going to offer. But it look at the big market. It's a it's, you know, white bodies alone nine thousand aircraft will be needed over the next twenty years. But we welcome the competition. Jim, I think it makes us better. And but the competition is fierce, and you know, we're playing to win. But again, we're trying to make sure we're making the right investments to continue to have that competitive edge as we look at the markets going. Forward. Okay. So great. You mentioned you mentioned a corrigo this ending fed ex report. It's very clear they have to spend a little more than people thought than anyone thought. I think all these countries have to spend more is that good news for Boeing. Well, look at that. I mean, the fundamentals around the freight market of definitely improved. We've got a pretty incredible portfolio of offerings. Whether it's the seven six seven the triple seven of the seven four seven, and as well as converted passenger to freighter in our services business. So we got a great portfolio, and we're certainly engaged with the customer to ensure that we're meeting their needs. And so, you know, certainly strong growth there really gets the more demand and in we're focused on getting winning that demand and getting them. You know, these game changing products and services in the timeframe that they need them..
"forty billion dollars" Discussed on KQED Radio
"This is BBC trending with me, an ACC, Vida. Today. We're reporting on the spread of online advocates that encourage students to pay somebody else to do their academic work for them. As a result of our investigation. Youtube has deleted thousands of videos and Facebook has removed dozens of ads, but why are some social media stars so willing to promote cheating on their channels coming up that's BBC trending just after the news. Bbcnews US federal judge in taxes has ruled that a key part of Barack Obama's healthcare reforms is unconstitutional. John Drita O'Connor said ObamaCare had been invalidated by change in tax law last year, which eliminates is a penalty for not having health insurance. President Trump said the ruling was great news for America. The case is likely to go to the supreme court. Israeli Prime Minister Scott Morrison as an onset is government intends to recognize west Jerusalem as the capital of Israel. He said is also recognized Palestinian aspirations for a state capital in east Jerusalem. The embassy will not move from Tel Aviv. Until a peace settlement is achieved. The US pharmaceutical giant Johnson and Johnson has angrily denied reports that knew for decades that small amounts of his best tons and sometimes been found in its talcum powder. Forty billion dollars has been wiped off its market value. This tight security in the French capital. Paris ahead of another day of protests by the anti-government yellow vest movement. President Macron has announced reforms he hopes will meet the demonstrators demands the NSA urgent need for a robust monitoring scheme to ensure the truth can take hold in the Yemeni port of her data. There have been clashes between the Saudi back coalition and who. He rebels a winner of this year's Nobel peace prize is using her prize money to build a hospital to treat you see women sexually abused by is militants. She was one of about seven thousand women and girls captured and singer. Church bells seized by US troops more than a century ago. Will again ring out today from the church in the Philippines, where the originally hung. It will be the end of a long campaign for the restoration of the three ballon Higa bells. BBC news. I just thought it was ridiculous from the get-go. I already knew I wasn't going to be taken on the sponsorship. But it's still kind of funny how blatant and straight to the point. They are with you know, here. Do you want to cheat? We can help you out with that. This is BBC trending the program that takes a deeper more investigative look at the world of social media. I'm david. You just heard Joe Andrews talking about an offer he received two appetizer an essay writing company on his channel. Companies also known as.
"forty billion dollars" Discussed on KCRW
"There was no visible exchange between President Trump and the Clintons, but they were all greeted by former President George W Bush will deliver the eulogy for his father and former First Lady Laura Bush special counsel, Robert Mueller's office is recommending no jail time for President Trump's former national security adviser, Michael Flynn NPR's. Carrie Johnson says prosecutors reciting Flint substantial health and several ongoing investigations in met with special counsel, lawyers are other people inside the Justice department nineteen times as part of his cooperation they credited him with not only with helping with the Russia probe that also with an unspecified criminal investigation. That's still ongoing. All of that information was blacked out. In the court filing. That's NPR's. Carrie Johnson reporting. This is NPR news. And from KCRW, I'm Cheri Glazer was state and local headlines. It's been just two days since California state lawmakers were sworn in for their new legislative session, but they've already introduced more than one hundred pieces of legislation calling for more than forty billion dollars in proposed new spending the state is flush with cash, but his KCRW's Daryl Sassaman reports governor elect Gavin Newsom is recommending that they take a go-slow approach. One of the new bills would expand the state's preschool program at an estimated cost of one point three billion dollars a year. Another would open medical eligibility to undocumented adults in California that could cost up to three billion annually and another would commit this state to thirty five billion dollars in new education spending. These are all things that align with goals that Newsome touted in his campaign, but Newsome who takes office next month says that he wants. To these objectives. Gradually not all at once. After meeting with Senate, president Toni Atkins yesterday Newsom told the Sacramento bee that many of the bills would be whittled down Newsom channeled current governor Jerry Brown, saying California, must continue to be fiscally prudent and live within its means. The state is expected to have a nearly fifteen billion dollar surplus next year and Democrats who are in the majority are itching to spend some of that money on new programs Newsome says he won't be afraid to say, no if the price is too high for KCRW arm. Darrell sats men in LA city council committee signed off on a new plan to regulate short term rentals in the city. That's KCRW Benjamin Gottlieb reports it's a crucial step in a long running process. Los Angeles does not have a law on the books that regulates short term rentals these coming many forms a room in your apartments. Your garage your entire home perhaps and they're listed on web sites like Airbnb or VR B L. The trouble is. As those websites have been in some cases exploited by big time. Property managers raking in big margins on homes or apartments that would otherwise be on the markets with Los Angeles and a housing crunch. There's been pressure for the city council. The do something about this. The draft ordinance seeks to address that in some ways, it would cap the amount of days, you can rent out your place at four months, unless you get a waiver from the city, but there are still some outstanding issues, for example, whether low income residents that live in rent stabilized units can still rent out their places year round. Los Angeles is not the only city that's considered restrictions on home sharing your in California. The cities of San Francisco, and Santa Monica have both passed strict guidelines next up the full LA city.
"forty billion dollars" Discussed on News 96.5 WDBO
"Together in twenty thirteen had forty billion dollars, and we are four strong border security. We've made numerous proposals number two. The one point six billion dollars for border security negotiated by Democrats and Republicans is our position we believe that is the right way to go. Is that enough? It doesn't sound like it president wants five billion or it's over. Yeah. We'll look at Senator Schumer voted to create six hundred and some odd miles of wall in two thousand I believe he was two thousand five. Along with Senator Clinton and number of other Democrats were today serving in the Senate reported, the construction of the original border wall with President Trump is talking about is added several several dozens of Lyles and repairing the existed wall and improving it, so why was it possible for Senator Schumer to vote for that? Virtually all of that in in two thousand five or six and not vote for today. I think this is politics, and I think Senator humor ought to cut the deal and the deal oughta be Mr President, you get the five billion dollars to to extend the wall a small district and improved the wall where exists and it returned. We weren't x y and z, you know, the dreamers or whatever else, but this right now, it's just like blind structures in for the sake of provoking a crisis. I wish the president hasn't said I'm gonna shut uncomfortable Chevy down the government. 'cause that was an open invitation for Senator Schumer responding has. So maybe not a good tactical move with the president next Vladimir Putin. Does we doesn't Ukraine, declares international waters? Rushing waters takes twenty four Ukrainian sailors makes him have a forced confession on television. This on the cusp of the g twenty summit. He knows exactly what he's doing. This. Exactly what he wants. I just can't figure out why he want this. Well, because he thinks it's a moment of weakness for the president of the United States, and he wants to see what he can get away with and realize this is not just simply a question of a couple of small naval vessels in twenty four Ukrainians what he's attempting to do is starve a major part of the Ukrainian economy because there are reports in the Sierras off that are Ukrainian courts for that through which they export and import goods and services, and what the Russians are trying to do is to start that part of the economy. Think about it this way. What if Cuba said, okay, we're not gonna Lau. The ports along the Gulf Coast from Brownhill. Houston to New Orleans to pascagoula Tampa, Saint Pete we're not going to allow those to be used for commerce for the southeast and southwest United States. It'd be a big economic blow to us, and that's exactly what the Russians are attempting to do and Ukraine and requires a United response in our European allies led by the United States. And this president is the guy to do. It was his sound like I want you to hear what general Jacquin said he said, he will not meet with Putin. If was him cut thirty two I don't even think we should meet with Putin based on this incident. And that's the way of putting the marker down and tell them we're not gonna meet unless you release Salas and released a cruise ships back to your claims. Not sure property. Secondly, totally agree on sanctions, I think we should do that in concert with the Europeans and likely. We will I would make an announcement very quickly. The White House has been considering it for weeks, and that is more lethal aid to the Ukrainians show. The russians. That would be pushed around here and also to prop up the accordions political Amara will so the lethal aid with that show strength. Yeah. Absolutely. And look remember he's already demonstrated strengthen Ukraine. The previous administration allowed only Don lethally, like meals ready to eat and uniforms and wouldn't even deliver them to Ukraine. They dropped them off in Poland every Ukrainians had organized, volunteer convoys of trucks and drivers to pick up the the US material and take it to their basis. So this president said President Trump said I'm going to give you a limited lethal weapons that you requested including radar systems that allow you to track where artillery shells copied from and I'm going to give I'm going to deliver it to you. So we ought to step up the the aid that we do provide. And and and I think general Keane is right. There ought to be tough sanctions might have a minor disagreement. And that is what I understand maybe not meeting with Putin. But it'd be even better. If Trump went in and said to him face to face bladder. I don't like what you're doing. And we're not going to stand for it. And I only have one message to you you test me like this, and I'm going to respond, and I'm going to respond heavily and strongly and consistently to your aggression against Ukraine, our ally and the threat that you represent Europe. And I've delivered the message to you. If you don't change your jet change and release those and allow free and open access to the Ukrainian ports on the sea of azoff. You're gonna regret it and walk out the McKinsey act might be picked up by European powers? Like Germany, can you tell us? Why that is that is so people are saying this is a great move. Well, it's a powerful move. Because it will it gives a government that adopts that structure additional tools to sanction Russian and Russian actors and Russian institutions, and the and and and Putin noses, which is why remember when when he says we've vessel that guy off the Russian lawyer shows up to supposedly give quote bad stuff on the Hillary Clinton to the to the Trump campaign. She's really there to lobby them to repeal that act. So if they if they hate it being in the United States, and I think there's a version of it in Britain. What happens if other European countries began to to pass their version of it and further cramp the ability of Russian actors Russian p institutions to to freely use western institutions and move their money and their people around Europe. And and I think it'd be a great sign if you if you're a began to follow the United States lead, and I hope the president encourages them to do. So I want you to weigh in on one of the topic Larry cudlow on the GM layoffs and how they. They feel as though it's a he's spitting in the eye of the president who gave the corporate tax rate and to the previous administrations yours included. They bailed them out cut thirty six. It's a great disappointment. Obviously, the president indicated his own disappointment. There's disappointment that it seems like GM would rather build. It's electric cars in China rather than the United States. We are going to be looking at certain subsidies regarding electric cars and others, whether they should apply or not I can't say anything file about that. But we're looking into it again that reflects the president's own disappointment regarding these actions. How does that are you? Okay with that being a free market Republican. No not. I don't think the government ought to be saying if we have a subsidy for electric cars, and frankly, I'm against a subsidy for electric cars, but if we're gonna have a substitute for electric cars, it's gotta be only go to companies that behave in a way that we want them to behave. You have made a decision based upon the economics of their accompany people are not buying certain models. They were having lines production lines where an essence they were spending money to keep people working to make cars that nobody wanted to buy at a price of may allow them to make a profit. Now, she him what what the Bush administration did with GM was different than what the Obama administration. Did we put we said that we would give them twenty five billion dollars in financing, but they had to go to a court, and then present a plan that showed how they could return to profitability. And if they couldn't show that they could return to profitability than we had. What was you know, we we in essence, I leave on all of their on all of their companies and the emphases and so forth. To recover the twenty five billion dollars, and we weren't like with Obama. And and Chrysler I'm going to give a sweetheart deal to the United Auto Workers. And I'm going to allow foreign company to come in and buy US company at a cheap price that was entirely different. But having said that we have made money that is to say the government has made money off of the so-called bail out by by having that money repaid with interest. So we're now out of the car business, and we gotta stay out of the car business. And I frankly, don't like it when the president of the United States picks out eight company and says this company is doing things the way that I want them to do or not doing the way that I want to punish you. If you aren't doing things the way, I want you to do I hear you have that kind of control over our time. I hear you, and I agree with the concept with you, call rove. But when the president said, you know, we remember when these automotive companies converted their factories into making tanks instead of cars. We saw how they switch. Why couldn't they make? The American manufacturing base loyal to America. I listened be red white and blue your General Motors for goodness sakes. And you make them the the where you build the F one. Fifties. You make that the place we start manufacturing electric cars of that suture. Why shut it down? It's used to the with the cavalier way which was released. It bothers me. Well, me too. But how can you imagine all those people who were told just before Christmas that they're losing their job? Unbelievable. But look I am believable and talk about tone deaf. And and why all at once. I mean, but I assume that DM, and maybe this is a bad assumption to make made I'm assuming the GM looked at at the the possibilities of using their those plans for other things and decided decided they couldn't convert them to other things. He can't always, you know, it's not like every factory is capable of every kind of car. And they've, but but here's the deal. I want that decision to be made by a company and allow people people are. Are angry about damn don't buy jam car? Karl rove the best. Thanks so much. Thank you, sir. Back in a moment, giving you everything you need to know is Brian. Now, SafeTouch Security triple team traffic. Pretty.
"forty billion dollars" Discussed on WBZ NewsRadio 1030
"You're listening to the ric edelman show i'm rick element with isabelle barrow in the studio with me triple eight plan ric we're talking about the fact that ge has been kicked out of the dow jones industrial average since last year ge has lost almost one hundred and forty billion dollars of market value its stock is down another twenty four percent so far this year and on the news that was kicked out of the dow this week the stock has fallen to the lowest price since two thousand nine so while we aren't worried about the stock market overall we need to recognize that individual stocks might be a whole nother story and why it's dangerous tone individual stocks in the biggest bull market second longest ever in our nation's history over the past nine years you have a company like ge hundred and what twenty six hundred twenty six years old with three hundred thousand employees kicked out of the dow rather unser omonia sleep they're being replaced get this by walgreens is that the company you would've guessed would would replace g well according to the dow jones which is the creator of the dow jones industrial average they said quote the us economy has changed consumer finance healthcare and technology companies are more prominent today and the relative importance of industrial companies like ge is less by adding walgreens to the index they say it's more representative of the consumer and healthcare sectors of the us economy having said that walgreen stocks not all that exciting either its stock was down both in two thousand sixteen and twenty seventeen months down another eleven percent so far this year so it looks like they went from the frying pan modify with that idea but what does it really mean for the overall economy do we really need to be concerned or upset in our view absolutely not the economy is doing fabulous according to the labor department more people are working than ever and they're making more money than ever the labor department says wages were up in may while the unemployment rate went down it's the lowest in almost five decades and projected to remain low through twenty twenty another two to three years unemployment claims fell and made a one point seven million the lowest number ready for this since nineteen seventy three the economy added jobs pretty much everywhere retail healthcare construction professional and technical services manufacturing.
"forty billion dollars" Discussed on KSFO-AM
"And and of course the picture is not all rosy let's talk about gary zabriskie so according to a recently published article he worked for ge for forty years retired in two thousand sixteen left the company he had stock worth two hundred and eighty thousand dollars his shares are now worth one hundred and ten thousand roughly and yeah and he says he's now looking for work so he has to go back to work because his ged shares dropped in value from two eighty to one ten now of course g as a whole has wiped out one hundred and forty billion dollars in stock market wealth over the past year so that's i mean ge has fallen dramatically do you remember enron collapsed who doesn't over fifteen years ago well the drop in ge in value is more than twice the loss that enron had and here's the problem there ge there's a very large retail ownership about forty three percent of all the stock is owned by retail investors and so this is a company that dates back to the eighteen hundreds but all of a sudden the stock prices done really poorly and this retiree is being forced he says in the article he's forced to look for work to go back to work because he has too much of his money there and so here's another example of a company that was has been around since the late eighteen hundred sears sears has been in the news recently the ceo has offered to buy some brands including kenmore well as of the data the article that i pulled about a week ago the stock price was at three dollars and twenty four cents a year earlier it was trading at thirteen bucks a drop of seventy five percent so you got to companies that date back well over one hundred years that have dropped significantly in value and we told you earlier ignore the noise about quarterly profits but this is a story that you shouldn't ignore and this drives down to how is your money invested we've always cautioned about having money and individual companies i mean with sears and ge i suspect a lot of retirees but there's probably a lot of.
"forty billion dollars" Discussed on The Dave Ramsey Show
"I never planned on retiring and having to go back to work said mr brow ski who has a monthly mortgage payment and supports a partially disabled wife it's kind of scary the rapid unraveling of ge's wiped out roughly one hundred and forty billion dollars in stock market wealth in the past year not just at big wall street firms but small investors like mr brow sqi industrial giant is one of the most widely held us stocks by comparison the stock value lost by ge in the past twelve months twice the amount that vanished when enron collapsed in two thousand one and more than the combined market capitalization erased by the bankruptcies of lehman brothers and general motors during the financial crisis longer term ge's market cap has fallen more than four hundred sixty billion since its two thousand peak this is not segment where ramsey pixel general electric that is not what this is about and by the way let's do a little bit quick math here mr brodsky started with two hundred eighty thousand now he has one hundred ten thousand he did not lose all his money he lost half of it just a touch over half of it what he did not lose all his money so what what is the problem here there's two problems in this number one problem is that he had all of his retirement nest egg in one single stock and nowhere in the process did he learn.
"forty billion dollars" Discussed on WBAP 820AM
"Dollars wide range of infrastructure needs including one hundred forty billion dollars for roads and bridges what roads and bridges later now just roads and bridges in ah a hundred and fifteen billion dollars for water and sewer infrastructure which water and infrastructure i frazar they know that there's anita their summer 50 billion to rebuild schools we're like afghanistan now are we going to allow girls to go to the schools and democrats these people are crazy they're just crazy they added nearly ten trillion dollars to the national debt under obama they didn't spend they had that eight hundred billion dollar obama you're number one what was it called the stimulus yeah and where did that go what was built anybody can we point to the barack obama bridge and tunnel or something is there anything we could point to know what are you guys wanna fix now well everything no no no i honestly see as those like this is our house the united states america and in your house you take a household thing like you know what a couple of years we're going to have to have our roof replaced it's real old it's get leaky where passionate so we're going to have to build into the budget money to put a new roof on her house are driveway as trouble crumbled are our hot water heater is fifteen years old and ready to go you plan for these things and then you you allocate money for the hot water heater and then you replace it for the roof for the driveway and then you replace them right not in washington in washington democrats just wrote a big round number like a trillion dollars and they get very excited an an an auto erotic sexual sort of way and they run around crashing into furniture and then you say well what do you wanna spend our they say on bridges stupidity and you say well what bridges need fixing handing out there and they don't tell you because there are no because they don't care because it's not about bridges it's about spending and then they want to roll back.
"forty billion dollars" Discussed on WNYC 93.9 FM
"Very prominent role in congressional republicans ongoing efforts to reform the tax code what if anything can you tell us about how the latest proposals might affect next year's insurance markets we don't have argued yet by on senate majority leader mitch mcconnell did say that repealing individual mandate as part of a deal on republican pact legislation and that's a big deal um rolling back the individual mandate is something that could really affect premiums for people who remain in the market according to the congressional budget office well would cut the federal deficit but almost three hundred and forty billion dollars it would result in thirteen million more people not having insurance in the next ten years uh we know that new jersey has a federally run insureds marketplace it's receive tepid support from the christie of minutes asian here in new york we have a state of change that governor cuomo has really advocated for and invested in are we seeing a difference in how this is playing out in terms of narratives up on both sides of the river buried is like a carrot pure exchange here in new york there's a much more robust market and insurance premiums have not gone up sharply in new york and in many cases people are able to get even better yo on their insurance than they were um even in previous years because there simply more competition uh new jersey is a federally run exchange the uh open enrollment deadline ends on friday and we just haven't seen much support uh from governor christie to invest a lot of resources there get the word out about open enrollment there are only three insurers who are are.
"forty billion dollars" Discussed on WGN Radio
"The train this holiday last year the sunday after thanksgiving of course that today with amtrak's busiest day of the entire year here's a helpful hint try to get moving early the morning trains ten crowded and it is for holiday shopping season numbers rose to a record stirred according to a doby analytics that includes more than five billion dollars for black friday and between november stemmed black friday retailers nationwide took it nearly forty billion dollars in overnight fire destroyed several businesses in a strip mall in mid lowthian it happened in the four thousand block of west 140 seventh wgn tvs kelly davis reports there were no injuries however fire keep says when they got here on the london thirty last night's two people were still inside fortunately they got the now safely without any injuries the causes under investigation increase seatbelt checkpoint and patrols are taking place this holiday weekend the department of transportation and state police say the ramped up enforcement efforts involve more than a hundred and fifty law enforcement agencies in land tomorrow morning at six o'clock syrian activists take government airstrikes and shelling have killed nineteen civilians in the suburbs of damascus this is where rebels have held out against government forces throughout the nearly seven years of the country's civil war bail has been denied four demonte clark charged with starting a four and a half hour standoff with police after attacking of threatening to kill his girlfriend and their one year old daughter let's took place in the chatham neighborhood in the four hundred block of.
"forty billion dollars" Discussed on Bloomberg Radio New York
"The most widely held etf with over two hundred billion dollars and assets let's talk a little bit about spyders because the numbers are really quite mindblowing s p y the stock symbol for the spdr sp 500 investment trust has two hundred forty billion dollars in assets last i looked it's by far the most widely held etf and if you look at the next closest sp 500 etf it's less than half the size how did the spies become the goto s p 500 etf it's a great question is a couple of really good reasons one we were first that always helps so that was the first mover firstmover advantage and it was by seventy years right because we all we you hear two different versions of that the second mass gets the cheese the pioneers of the ones with their arrow arrows in their back but that hasn't really seem to impact this in in a significant way while this by heads a few advantages one it made in it's not just that it was first it had established trading mine mean today spy by dow awaited volume as the most liquid equity security in the world that some of these army trades in and fund stats on us if traded at a penny widespread for twelve years to every day so that's been liaskas one set one sentence motion trains out of that aid trade five point five times more than apple in from one hundred million shares a day what sort of volume due to a state turns over it can turn on once he had changed all through i'm but he can turn 15 to 20 billion dollars in assets neck well that's assam be with the ones that that i hear that i love i mean there's the outpost out is good you take the next like eighteen etf combined lodged etf combined mmhmm and they don't have the same creating line while the better it's obviously a go to liquidity product for marketplace is not just about a buying hall product this liquidity product it's.
"forty billion dollars" Discussed on WNYC 93.9 FM
"Of the seventh largest commercial bank in the united states with approximately forty billion dollars in as house suddenly failed it it was rescued it was brought back from the brink but yes it was an alarming uh experience for regulators because it was a solvent bank aren't any it was undermined by fear by a'mistaken emmy in fact it was it would have been a comedy of errors if it hadn't been such a hazardous event a rumor starts in in tokyo and it spreads around the world and suddenly no one wants to put any money with cotton and olive even overnight we saw similar things happen in two thousand eight what what washington mutual went under uh but turnout has not recovered that was not save that's true the un scholars of 1987 who will point out that the outrun on continental illinois in 1984 was many times greater than the worst bank run of two thousand eight so that part of what i want to do with this book leonard is is chip pro apply a corrective to are mistaken memories is it the fda i see supposed to protect us from all the players well the fdic doesn't give us unlimited deposit insurance and the problem in '87 as in way was if you've got more money in that bank then fdic will cover you're going to lose and if you do lose the domino effects of those losses are going to spread out throughout the economy with really catastrophic effects which is why regulators at the time felt they could not let um could not let continental illinois go under the the experienced though was was something that shape the responses on black monday because having seen how quickly a solvent financial institution could be attacked regulators on black monday and a day after black tuesday which was if anything even more frightening a new that they had to prevent a key firm from going under at it was a critical that they do that i'm speaking with diana be and rica's of the new york times author of the bestseller the wizard of lies now first class catastrophe the road to black monday the worst day in wall street history is is published by henry holt we will continue our conversation after this later on in the show james dill borgo looks into the strange origin so the british museum and netflix cottrer of discusses her investigation into why workers in.
"forty billion dollars" Discussed on 1A
"Well that's true although it really can't go through large mountains so i would say that it's a technology that's going to give you a better chance you may have to build fewer towers got then you otherwise would but fundamentally connecting those kinds of communities is a major challenge jennifer the national association of broadcasters which is the lobbying group that represents the nbc cbs and others is vehemently against this idea they released a statement yesterday that says in part quote it's the height of arrogance for microsoft a five hundred forty billion dollar company to demand free unlicensed spectrum after refusing to bid on broadcasttv airwaves in the recent fcc incentive auction microsoft's white space device development has been a well documented unmitigated failure policymakers should not be misled by slick microsoft promises that threaten millions of viewers with loss of lifeline broadcast tv programming unquote again that's a statement from the national association of broadcasters which is the lobbying group for america's major radio and tv networks jennifer what do you think of any bs concerns well it grant it can turn add spectrum microsoft hope telecom partners will use for white base there with it could interfere with broadcast tv channels and and they also complained obey don't have enough spectrum of their own in their letter they wrote that there are only eight hundred white face devices registered in the us many just test devices let's get to a few more comments from our listeners for christopher mitchell the director of the community broadband networks initiative at the institute for local self reliance and the wall street journal's jennifer levitte's lydia in st louis emailed us if memory serves large internet corporations declined to go to rural areas but when local entities tried to organize service on their own the big providers fought them tooth and nail why jennifer do you get a sense that maybe some of the bigger providers are an impediment to solving this problem or are they just not interested.