Bloomberg Markets 09/13/2024
SCARLET: STOCKS ARE GETTING READY TO CLOSE OUT THE WEEK WITH TRADERS INCREASINGLY BETTING ON A 50 BASIS POINT RATE CUT AT NEXT WEEK'S FED MEETING. LOOK AT THE S&P 500 AND SO FAR THIS WEEK IT HAS CLOSED UP EVERY DAY AND LOOKS TO DO IT TODAY. WITHIN THE EQUITIES COMPLEX, THE SMALL CAPS ARE LEADING THE WAY. SMALL CAPS ARE SEEN AS BENEFITING MORE FROM A FED CUT IN THE NEAR TERM EVEN THE MASSIVE GAINS WE HAVE SEEN IN BIG TECH. THERE IS MOVEMENT ACROSS
TREASURIES RISING ACROSS THE CURVE ESPECIALLY AT THE SHORT END WHICH IS MORE SENSITIVE TO FED POLICY. THE TWO-YEAR DOWN SIX BASIS POINTS. I INCLUDED GOLD AT 2610. THAT IS A NEW RECORD HIGH. LET'S HIGHLIGHT A COUPLE OF MOVERS. WE WANTED TO SHOW YOU RESTORATION HARDWARE UP ON RESULTS SHARED THE HOME FURNISHINGS RETAILER REPORTED SALES AND EPS ABOVE ESTIMATES AND SAID DEMAND TRENDS HAVE BEEN IMPROVING. OF INTO THE DOWNSIDE IS ADOBE. -- MOVING INTO THE DOWNSIDE IS
ADOBE. A DISAPPOINTING SALES OUTLOOK. INVESTIGATORS -- INVESTORS THIS EARNINGS SEASON HAVE BEEN IMPATIENT TO SEE HOW REVENUE FROM AI BUSINESSES ARE SHOWING UP ON THE RESULTS AND THAT WAS ALSO THE CASE WITH ADOBE. THE STOCK IS DOWN 9.4% OVER THE PAST TWO DAYS. STAYING WITH DECLINERS, THE WORST PERFORMER IN THE DOW INDUSTRIALS IS BOEING AS FACTORY WORKERS WALKED OFF THE JOB FOR THE FIRST TIME IN 16 YEARS. MEMBERS OF BOEING'S LARGEST UNION OVERWHELMINGLY REJECTED A CONTRACT OFFER AND VOTED TO GO ON STRIKE. THAT SENTIMENT BEING REFLECTED BY ONE OF THE UNION LEADERS.
>> THIS IS ABOUT RESPECT. THIS IS ABOUT ADDRESSING THE PAST. THIS IS ABOUT FIGHTING FOR OUR FUTURE. OUR MEMBERS REJECTED THE CONTRACT BY 84.6%. SCARLET:
FOR THE LATEST ON WHAT IS GOING ON WITH THE LABOR ACTION, WE ARE JOINED BY SYD PHILIP, BLOOMBERG'S DEPUTY EDITOR FOR GLOBAL AVIATION. THE CONTRACT THEY VOTED ON INCLUDES A 25% RAISE OVER FOUR YEARS. THE UNION ONCE MORE. WHAT ARE THEY PUSHING FOR? >> THEY ARE PUSHING FOR 40% AND ASKING FOR RESTORATION OF PENSIONS. ASKING FOR INCREASE IN HEALTH CARE EXPENDITURE. THEY WERE ASKING FOR A LOT MORE
AND THEY DID NOT GET THAT. GIVEN THE FACT BOEING IS IN A PRECARIOUS VISION, IT IS A GOOD TIME FOR THEM TO TRY TO GET THE BEST THEY CAN BECAUSE THEY FELT PREVIOUS DEALS DID NOT GET THEM WHAT THEY WANTED TO SCARLET: THEY FEEL THEY HAVE THE LEVERAGE NOW. DO WE KNOW IF THE TWO SIDES ARE TALKING? >> WE DO KNOW THE BOARD DECIDES TO GET AN AGREEMENT QUICKLY, BOEING IS DESPERATE FOR A DEAL BECAUSE THEY WOULD LIKE PRODUCTION TO GET BACK UP AND THEY ARE CONCERNED THE LONGER A STRIKE GOES ON THE LESS THEY CAN PRODUCE PLANES THAT MEANS NO CASH COMING IN. BOEING NEEDS A DEAL. THE UNION IS KEEN ON GETTING A DEAL. IT DEPENDS ON HOW LONG THIS STRIKE LASTS AND THAT WILL DETERMINE WITH THE FINANCIAL IMPACT WILL BE ON BOEING. SCARLET: WE SHOULD MENTION THE WHITE HOUSE IS INVOLVED OR THERE IS A FULL STATEMENT.
A BEEN A STRANGE AND OFFICIALS ARE IN TOUCH WITH BOEING AND MACHINIST. WE ENCOURAGE THEM TO NEGOTIATE IN GOOD FAITH. I KNOW YOU WERE JUST LISTENING TO BOEING'S CFO AT AN EVENT. WHAT DID HE SAY ABOUT THE STRIKE ACTION? DR. HE SAID IT IS TOO EARLY TO TELL THE IMPACT OF WHAT THE STRIKE IS GOING TO BE. HE SAID THE IMPACT ON CASH FLOW AND CASH FLOW PROJECTION -- CASH FLOW PROGRESSION FOR 24 AND 25 IS UNCERTAIN. HE DID TALK ABOUT HOW BOEING IS
KEEN ON MAINTAINING ITS INVESTMENT GRADE RATING AND TALKED ABOUT HOW IN THE LONG TERM THEY SEE A POSITIVE BUSINESS FOR BOEING. THEY'RE LOOKING TO GET AROUND THIS ISSUE. THEY ARE WILLING TO GET A DEAL. THEY ARE WILLING TO WORK WITH THE UNIONS AND THEY DO HOPE IN THE LONG TERM THEY CAN TURN THE SHIP AROUND. SCARLET: HE DID SAY BOEING STILL HAS THE INVESTMENT GRADE RATING THEY WANT TO KEEP. MOODY'S MAY CUT BOEINGS RATINGS
TO JUNK STATUS. >> IT IS HOVERING JUST ABOVE JUNK SO THEY NEED TO DO ACTIONS TO PRESERVE THAT. SCARLET: WHAT ARE ANALYSTS SAYING ABOUT THE STRIKE? >> SO FAR THEY ARE TALKING ABOUT IT DEPENDS ON -- EVERYONE IS HOPING IT WILL BE A QUICK STRIKE AND IT WILL TAKE MUCH LESS TIME THAN THE PREVIOUS ONE BECAUSE IN THE PAST IN 2008 WE HAD A 50 DAY STRIKE THAT WOULD BE ESTIMATED TO COST BETWEEN THREE AND 3.5 BILLION IN CASH FLOW. IF IT WAS SHORTER, IT MIGHT HAVE LESS OF A FINANCIAL IMPACT. IT WOULD BE ABLE TO GET PRODUCTION QUICKER AND GET BACK GOING. OTHERWISE YOU HAVE TO WAIT MUCH LONGER. SCARLET: WHEN IT COMES TO PRODUCTION,
THIS IS A WORK STOPPAGE IN THE SEATTLE AREA FACTORY. WHICH AIRCRAFT IS THIS FACTORY RESPONSIBLE FOR? >> IT AFFECTS THE 73 SEVEN, TRIPLE SEVEN, THE 767. THE AIRCRAFT NOT AFFECTED AS MUCH, THE 787. THE CFO DID TALK ABOUT HOW THE PRODUCTION IS BELOW FIVE A MONTH BECAUSE THEY ARE FACING SHORTAGES OF PARTS INCLUDING SEATS SO MANY PROBLEMS FOR BOEING AT THE MOMENT. CARLA: THANK YOU FOR BRINGING US UP-TO-DATE. -- SCARLET:
THANK YOU FOR BRINGING US UP TODAY. WE TALKED ABOUT HOW THIS COMES EIGHT MONTHS AFTER THE INCIDENT IN MIDAIR WHERE THE DOOR PLUG BLEW OUT. BOEING HAS BEEN BLEEDING CASH. CREDIT RATING COULD BE CUT. WAY DOWN BY $45 BILLION OF DEBT. WHAT ARE SOME OF THE IMPLICATIONS OF THE STOPPAGE AT A CRITICAL TIME AND WHERE DOES THIS LEAVE BOEINGS LEADERSHIP? ANITA IS THE SPECIAL ADVISOR TO THE SECRETARY GENERAL OF U.N. TOURISM AND AUTHOR OF THE CALL TO LEADERSHIP, UNLOCKING THE LEADER WITHIN IN TIMES OF CRISIS.
THANK YOU FOR JOINING US. I KNOW YOU HAVE TALLIED UP THE NUMBERS THAT SHOW THE COST OF THE STRIKE NOT JUST FINANCIAL BUT IN TERMS OF THE EXTENT THE WORK STOPPAGE WILL BE TO PRODUCTION DELAYS. LET'S START WITH THE FACT PRODUCTION HAS GROUND TO A HALT IN THE SEATTLE AREA. WHAT DO YOUR NUMBERS INDICATE? >> THANK YOU FOR HAVING ME. IT IS A TRAGIC FRIDAY THE 13TH. WE ARE LOOKING AT 100 TO $150 MILLION PER DAY IN TERMS OF LOSSES FOR PRODUCTION. WHAT THE UNION LEADER WAS
SPEAKING ABOUT, THIS IS ABOUT SO MUCH MORE THAN THE NUMBERS. IT IS NOT JUST GOING BEING IMPACTED. THE ENTIRE AVIATION INDUSTRY AND ECOSYSTEM IS BEING IMPACTED BY THIS. OUR WORLD NEEDS A.
BOEING IS PART OF A DUOPOLY BETWEEN BOEING AND AIRBUS. THEY REPRESENT FOUR OUT OF 10 COMMERCIAL AIRCRAFT RECEIVED PLUS THERE IS CARGO AND WE HAVE OBVIOUSLY THE EVER SPACE GOING BEYOND IN TERMS OF THE AIR SPACECRAFT. THIS ORGANIZATION REPRESENT SO MUCH IN TERMS OF AVIATION FOR ALL OF US AT A PASSENGER LEVEL, A TRADE LEVEL, A GLOBAL LEVEL. THE IMPLICATIONS ARE MASSIVE. IT IS NOT AS IF WE CAN SAY BOEING PRODUCTION IS GOING TO BE REDUCED.
THIS IS HAPPENING WITH THE 737. THAT IS AN AIRCRAFT THAT HAS ALREADY BEEN PUT PRESSURE ON REPRODUCTION BY THE FAA. THIS HAS A MASSIVE INDICATE -- MASSIVE IMPLICATION. AIRBUS CANNOT TURNUP INCREASED CAPACITY. THEY'RE STRUGGLING WITH DELIVERIES. THIS IS GOING TO HAVE A HUGE IMPLICATION ON DAILY COST, ON ORDERS. IF THEIR FAILURES OF CONTRACTS,
THAT CAN BE UP TO $1 BILLION IN TERMS OF EXPENSES AND PENALTIES. $10 MILLION PER AIRCRAFT IN TERMS OF THE INABILITY TO SUPPLY CONTRACTS. REALLY TO THE NEW CEO, THE FOURTH CEO IN THE LAST 10 YEARS FOR BOEING. THE SPOTLIGHT IS INCREDIBLY HOT RIGHT NOW. SCARLET: I'M GLAD YOU TALLIED UP EVERYTHING LIKE THAT AND PRESENTED AS THE BIG PICTURE FOR NOT JUST BOEING BUT THE INDUSTRY AT LARGE.
CAN WE TALK ABOUT THE SUPPLY CHAIN BOEING HAS A COMPLEX SUPPLY CHAIN. SOMETHING LIKE 12,000 SUPPLIERS. EVEN IF THIS IS A SHORT STRIKE AND THERE IS A LOT OF HOPE IT WILL END WITHIN A WEEK, MAYBE THE IMPACT ON SUPPLIERS CAN LAST MUCH YOUNGER. >> ABSOLUTELY AND HAS ALREADY BEEN STRUGGLING. 12,000 SUPPLIERS. ALL OF THEM ALREADY BEING UNTRUSTING OF BOEING IN TERMS OF THE ABILITY TO RECOVER.
THEY ARE NOT JUST RECOVERING FROM THE SHORTNESS OF DELIVERY. ALMOST 16,000 COMMERCIAL AIRCRAFT REROUTED DURING THE PANDEMIC SO ALL OF THOSE AIRCRAFT ARE TRYING TO GET BACK IN THE AIR PLUS THE NEW PROVISION. WE TO KEEP IN MIND BOEING IS AT THE FOREFRONT OF INNOVATION WHEN IT COMES TO SUSTAINABLE INNOVATION. THE 737 MAX IS ONE OF THE LEADERS IN TERMS OF CUTTING EMISSIONS AND FUEL MANAGEMENT. THE ABILITY TO REACH NED ZERO, ALL OF GLOBAL AVIATION'S ASPIRATIONS TOWARDS SUSTAINABILITY RELY ON BOEING AND ON SUPPLIERS. THE PRESSURE GOES RIGHT THROUGH THE ECOSYSTEM. SCARLET:
THE NEW CEO HAS URGED UNION MEMBERS NOT TO STRIKE. THEY DID ANYWAY. HE HAS VOWED TO RESET LABOR RELATIONS. DO WE KNOW HOW BIG A FACTOR HE WAS IN THE NEGOTIATIONS BEFORE THE STRIKE? >> HE HAS BEEN VERY VISIBLE. HE HAS BEEN VERY AUDIBLE AND AS
HE SAID, NO ONE WINS IF ANYONE WALKS OUT. HE NEEDS TO ESTABLISH A WIN WIN WIN FOR BOEING, THE EMPLOYEES IN THE INDUSTRY. HE HAS BEEN VERY MUCH AT THE FOREFRONT OF THIS. HE NEEDS TO CONTINUE TO BE SO. ULTIMATELY AS ONE OF THE UNION LEADERS SAID, THIS IS ABOUT RESPECT. THEY NEED TO TRUST THE NEW CEO. WHY SHOULD THEY WHEN YOU HAVE HAD FOUR IN THE PAST DECADE? HE NEEDS TO BE VERY VISIBLE. HE NEEDS TO BE VERY ACCOUNTABLE. NEEDS TO BE HUMAN QUITE HONESTLY IN BEING COMPASSIONATE TO HOW THEY HAVE SUFFERED AND THEY NEED TO BE UNDERSTANDING OF HOW THE ORGANIZATION WHICH THEY LOVE WILL SUFFER IF THE STRIKE CONTINUES. SCARLET: ONE LAST QUESTION AND QUICKLY,
IN TERMS OF REPUTATIONAL DAMAGE, WE KNOW IT TOOK BOEING A WILD TO LAND UPON HIM AS THE NEW CEO. HOW MUCH GRACE WILL THE BOARD BE INCLINED TO EXTEND TO HIM TO RESOLVE THIS BEFORE THEY GET IMPATIENT? >> ABSOLUTELY ZERO. HE HAS BEEN IN THE JOB FOR ONE MONTH AND IS FACING CHALLENGES ACROSS EVERY BUSINESS UNIT. IT IS UNDERSTANDABLE THE BUSINESS, THE EMPLOYEES, THE INDUSTRY, THE SUPPLIERS ARE IMPATIENT. EVERYONE IS WAITING FOR BOEING TO RECOVER. IT IS AN IMPORTANT PART OF IT. WE WANT KELLY TO SUCCEED.
WE NEED TO BACK HIM SO WE NEED TO SUPPORT HIM. DURING MUCH FROM THE POINT OF VIEW OF WITHHOLDING CRITICISM. THERE ARE A FEW COMPANIES WHERE WE HAVE ACTUALLY SEEN SO MUCH FOCUS AT ALL LEVELS FROM THE AUDIENCE LEVEL, FROM AN INDUSTRY LEVEL. WE NEED HIM TO SUCCEED. THAT IS WHERE I GIVE HIM FULL CREDIT IN STEPPING FORWARD. HE CAME OUT OF RETIREMENT TO CAME OUT OF THIS JOB -- TO TAKE THIS JOB SHOULD CREDIT DEBT -- THIS STRIKE DOES NOT CARRY ON BECAUSE NO ONE ESPECIALLY BOEING EMPLOYEES WANT TO SEE BOEING FAIL. SCARLET: SPECIAL ADVISOR TO THE SECT -- TO THE U.N. GENERAL OF TOURISM. THANK YOU SO MUCH.
COMING UP, UBER MAKING AN ANNOUNCEMENT IT IS DRIVING A SIGNIFICANT MARKET RESPONSE. YOU CAN SEE THE POP IN THE STOCK. WE HAVE THAT AS OUR STOCK OF THE HOUR NEXT. THIS IS BLOOMBERG. SCARLET: THIS IS BLOOMBERG MARKETS.
IT IS TIME FOR OUR STOCK OF THE HOUR. WE WANT TO BRING IN ABIGAIL DOOLITTLE FOR A LOOK AT UBER. ABIGAIL: IT IS A BIG STOCK STORY AND I SHOULD SAY STOCKS OF THE DAY BECAUSE IT IS NOT JUST UBER RESPONDING WELL. WE HAVE SHARES OF ALPHABET CLIMBING. UBER HEADING TO THE BEST DAY IN A MONTH. ALPHABET OFF OF ITS HIGHS, UP
1.4%. ALPHABET HAD BEEN ON PACE FOR THE BEST DAY IN TWO MONTHS. HAVING TO DO WITH THE UBER WAYMO DEAL. AN EXPANSION OF THEIR PARTNERSHIP THEY ESTABLISHED LAST YEAR. THIS DEAL IS AN EXCLUSIVE OFFERING WITH -- WHERE THE UBER APP WILL BE USED FOR WAYMO VEHICLES. THE ELECTRIC VEHICLES IN ATLANTA, GEORGIA AND AUSTIN, TEXAS. AUSTIN IS INTERESTING BECAUSE
OF ELON MUSK'S PRESENCE. IT SEEMS THEY ARE TRYING TO HAVE A FOOT STOP. UBER WILL NOT ONLY MANAGE THE TECHNOLOGY OF THE APP BUT IT WILL MANAGE SERVICES SUCH AS CLEANING AND REPAIRING THESE VEHICLES.
THERE PLANNING ON THE FLEET IN THESE AREAS TO EXPAND SIGNIFICANTLY. THIS DEAL WILL TAKE PLACE EARLY NEXT YEAR. IT DOES HELP UBER PIVOT TO BEING A PLATFORM FOR COMMERCIALIZING AUTONOMOUS CARS. UBER IS ALREADY DOING QUITE WELL. IF WE TAKE A LOOK AT THE SUBSCRIBERS, THIS IS MOVING IN THE RIGHT DIRECTION OVER THE LAST NUMBER OF YEARS. MORE THAN FIVE YEARS.
THE LAST QUARTER, MORE THAN 100 50 MILLION SUBSCRIBERS FOR UBER SO YOU HAVE TO BELIEVE WITH THIS EXPANSION OF THE EXCLUSIVE DEAL BETWEEN UBER AND WAYMO IN ATLANTA, GEORGIA AND AUSTIN, TEXAS IT WILL HELP THIS TRAJECTORY. SCARLET: THE FUTURE IS COMING TO DRIVERLESS CARS IN ATLANTA AND AUSTIN. THE UGLY TRUTH ABOUT STUDENT ATHLETES GETTING PAID BECAUSE SOMETIMES THEY DO NOT. THIS IS BLOOMBERG.
SCARLET: THIS IS BLOOMBERG MARKETS. WE TURN TO BLOOMBERG'S BIG STORY THIS FRIDAY WHICH IS THE FLOODGATE IS WIDE OPEN FOR COLLEGE ATHLETES TO GET PAID BY REPORTING REVEALS YOUNG ATHLETES FACE A WILD WEST OF ABRUPTLY SCRAPPED DEALS AND HUGE DISPARITIES MA COMPENSATION. I WANT TO WELCOME OUR REPORTER WHO WORKED FOR MONTHS TO BRING THE STORY. WE'RE TALKING ABOUT COLLEGE FOOTBALL AND TO A SMALLER EXTENT COLLEGE BASKETBALL. COLLEGE FOOTBALL HAS BECOME
UNRECOGNIZABLE. YOU HAVE PLAYERS SWITCHING TEAMS LIKE FREE AGENTS. YOU HAVE PLAYERS MAKING MILLIONS FROM ENDORSEMENT TO UC BERKELEY IS PART OF THE ATLANTIC COAST CONFERENCE AT ALL OF THIS COMES DOWN TO A COURT DECISION THAT ALLOWS COLLEGE ATHLETES TO PROFIT OFF THEIR NAME AND LIKENESS. >> THE FLOODGATES REALLY OPENED IN 2021.
THAT IS WHEN THE NCAA LET ATHLETES PROFIT FROM WATER POLO NAME IMAGE AND LIKENESS DEALS AND IT CHANGED THE TRANSFER DEALS WHICH ALLOWED ATHLETES TO MOVE FROM SCHOOL TO SCHOOL. WHAT HAPPENED IS THAT OUTCOME EYES TO INTO A DE FACTO PAY TO PLAY SYSTEM WHERE YOU HAVE THESE BOOSTER GROUPS WHICH ARE THE WEALTHIEST PEOPLE IN TOWN, THINK THE RICHEST CAR DEALER IN TOWN, THEY GET TOGETHER. THEY PAY TO BRING PLAYERS TO THEIR SCHOOL. THE UNIVERSITY HAS THIS THIRD-PARTY RELATIONSHIP. WE UNCOVERED MANY CASES WHERE THESE ATHLETES WERE PROMISED ONE THING AND GOT ANOTHER. PROMISED BIG-MONEY AND THE CONTRACTS ARE ABRUPTLY COLD. SCARLET:
YOU DESCRIBED CASES WHERE PLAYERS WERE TERMINATED WITHOUT NOTICE EVEN THOUGH THEY DID SIGN A CONTRACT. THEY WERE PROMISED MONEY THAT NEVER APPEARED. WHAT ROLE DOES THE NCAA OR CONGRESS PLAY HERE? THERE HAVE BEEN A LOT OF HEARINGS IN CONGRESS BUT WHAT HAS COME OUT OF THAT? >> THE NCAA HAS LOST THE ABILITY TO ENFORCE ITS OWN RULES. IT HAS REPEATEDLY LOST ANTITRUST SUITS AND HAS NOT BEEN ABLE TO PUT ANY GUARD RAILS AROUND THIS. CONGRESS HAS HELD A DOZEN HEARINGS SINCE 2020 AND THERE HAS BEEN NO BIPARTISAN LEGISLATION TO WHAT IS MISSING IS ANYONE REPRESENTING THE PLAYERS.
COACHES, ADMINISTRATORS ARE PROFESSIONALIZED IN COLLEGE FOOTBALL. EVEN THE ASSISTANT COACHES IN COLLEGE FOOTBALL HIGHER AGENTS AND NEGOTIATE SALARIES FROM FOR HUNDRED THOUSAND TO TWO AND A HALF MILLION. PEOPLE HEAR ABOUT THESE DEALS FOR CERTAIN COLLEGE ATHLETES AND THAT IS CERTAINLY TRUE. SOME OF THE MARKETING THESE BIG DEALS BUT THE REPORTING MY COLLEAGUE AND I DID SHOWS THE VAST MAJORITY OF THE PLAYERS ARE AT THE MERCY OF THESE DONOR GROUPS TO TAKE WHAT THEY CAN GET. WE DESCRIBE A SITUATION NOT KNOWN LAST YEAR WHERE THE SPARTANS HAD A NEAR WALKOUT BEFORE A GAME BECAUSE THE DONOR GROUP ABRUPTLY PULLED THEIR FUNDS. SCARLET:SCARLET:
IT IS A FANTASTIC STORY AND I ENCOURAGE ANYONE TO READ IT. PETER ROBINSON WRITING TODAY'S BIG TAKE AND IT IS AVAILABLE ACROSS OUR PLATFORMS. WE WANT TO STAY WITH THE BUSINESS OF SPORTS. YOU MIGHT HAVE SEEN VIRAL VIDEOS OF PEOPLE WATCHING FOOTBALL WHERE IT LOOKS LIKE THEIR STANDING IN THE END ZONE. IN REAL LIFE THEY ARE AT A VENUE THAT SELLS TICKETS TO WATCH SPORTS ON A LIVE SCREEN. JOINING US TO TELL US ABOUT IT IS THE PRESIDENT AND CEO.
WELCOME AND GIVE US A SENSE OF WHERE PEOPLE CAN SEE THESE SCREENS AND BE PART OF THE EXPERIENCE. ARE THEY AT COLLEGE GAMES OR ONLY PROFESSIONAL GAMES RIGHT NOW? >> THINGS FOR HAVING ME ON. WE HAVE OPENED UP OUR FIRST TWO VENUES IN LOS ANGELES AND NORTH TEXAS. THESE ARE THE MOST DYNAMIC EXPERIENTIAL VENUES TO HIT THE MARKET. WE ARE SHOWCASING LIVE CONTENT FROM THE ENTIRE WORLD OF SPORT WHETHER IT IS COLLEGE FOOTBALL OR PREMIER LEAGUE. WE HAVE USA LIVE IN HER VENUES THIS SATURDAY. INCREDIBLE OPPORTUNITIES FOR
FANS TO SEE CONTENT OF ALL SORTS LIVE AND IN POST WITH EXPERIENTIAL ART AND CINEMA AND DIFFERENT PROGRAMMING. SCARLET: IT SOUNDS LIKE THESE SCREENS NEED TO BE AT CERTAIN VENUES OR CAN THEY BE INSTALLED IN DIFFERENT PLACES? >> RIGHT NOW WE ARE FOCUSED ON BRINGING ALL OF OUR TECHNOLOGIES INTO VENUES. IT IS MORE THAN JUST THE DISPLAY. IT IS ABOUT THE FEELING FANS HAVE WITHIN OUR VENUE. BEING ABLE TO WALK AROUND, GREAT HOSPITALITY, COMFORTABLE SEATING AND LEVERAGES OUR HOMEGROWN TECHNOLOGY. UNKNOWN FACT IS WE ARE ONE OF
THE LARGEST PLANETARIUM COMPANIES IN THE WORLD SO WE ARE ABLE TO TAKE THIS TECHNOLOGY IN SPORTS AND ENTERTAINMENT, SCIENCE ENERGY -- AN ENTERTAINMENT TO MAKE SURE FANS OF ALL TYPES GET THIS INCREDIBLE OPPORTUNITY TO EXPERIENCE THE TECHNOLOGY. THAT SCARLET: MAKES SENSE, THE PLANETARIUM LAKE. YOU RAISED OVERTURNED $50 BILLION AND YOUR BACKERS INCLUDE FUNDS LED BY MARK LAZARUS, DAN GILBERT, DAVID BLITZER. WHAT IS THE STATUS OF THEIR COMMITTING TO MAKE THEIR GAMES AVAILABLE ON YOUR TECHNOLOGY? >> THE KEY IS THIS GROWTH THROUGHOUT HAS HELPED US TO REALIZE OUR BIGGEST VISION. TO DEPLOY COSM AROUND THE WORLD. THERE ARE CAPITAL PARTNERS, BROADCASTING PARTNERS.
WORK WITH THE ENTIRE SPORTS INDUSTRY AND THE CONSTRUCT AS A WHOLE TO BRING THIS VISION TO LIFE. WE ARE REALLY PRIVILEGED TO HAVE SO MANY FANTASTIC THOUGHT LEADERS, STAKEHOLDERS, INFLUENTIAL PEOPLE WITHIN THIS INDUSTRY KIND OUR VISION HOPING US SCALE AND TAKE THIS GLOBAL. SCARLET: WHICH LIVE EVENT ARE YOU MOST EXCITED TO SEE PROJECTED ON YOUR SCREENS AND USING YOUR TECHNOLOGY? >> I AM BIASED. REALLY I LIKE THEM ALL. I LOVE AMERICAN FOOTBALL. AS A FORMER ATHLETE, IT IS SOMETHING NEAR AND DEAR TO ME BUT I CAN TELL YOU THE PREMIER LEAGUE WHEN YOU'RE COMING ALIVE FROM ALL PARTS OF THE WORLD AND BRINGING THAT LIVE LOCALLY IN LOS ANGELES AND TEXAS AND SEEMED TO BE ATLANTA THERE IS NOTHING LIKE IT.
THIS WEEKEND WE HAVE ARSENAL TOXIN -- ARNEL -- ARSENAL TOTTENHAM FROM HOTSPUR STADIUM. . WE HAVE A SOLD-OUT CROWD AND THE POWER TO TRANSPORT FANS AND GIVE THEM THE EXPERIENCE THAT IS LIKE BEING THERE. WE CAN NEVER REPLACE THE FEELING OF BEING THERE BUT WE ARE GETTING CLOSE AND ARE GOAL IS TO MAKE SURE WE LET THE FANS COME IN AND EXPERIENCE THEMSELVES. SCARLET: REALLY APPRECIATE YOU JOINING
US. PRESIDENT AND CEO OF COSM. THAT DOES IT FOR BLOOMBERG MARKETS TODAY. THIS IS BLOOMBERG.
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2024-09-16 09:17
