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Commodity Prices: Where Are They Going?

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    Commodity prices and their effect on global business

  • Duration 6:45
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A day with slick could quadruple witching he sees a commodity prices because it's really hard to figure out where they're going to what they're doing I think this sense is that they're just going up.

Which is why we have -- rich back with a -- now chairman of reits is products.

You know what's funny series I mean my kids can listen and -- -- six -- farm -- -- six you know last night.

I was blown away sales were up in this day gags immigrants kids Tracey I'm surprised you -- me back because -- it last time as hero is black Monday in August yeah and the market was there that 600 and we're still alive and to talk about it years smiling a lot.

Well yeah I was smiling man I know it's gonna come back at some point but commodity prices are something that it clearly affects your business.

Thanks everybody's business these days but don't they're getting harder and harder to predict aren't that.

Yeah there's been a lot of volatility right now we're in a period where it's flat little but display ads at a much higher level but.

You know other things we can do about it -- one of my favorites is this whole question of bio fuel.

And when we've got hunger around the world.

And we're putting corny and gas tanks.

You -- if you moral and and I think that's something.

That if the government wants to do some good things.

That's one thing that can be fixed but shouldn't be doing anything I mean should the government be involved in this at all.

Well I think you eat you have to look at world hunger in the in look at price and and there's -- so much for so many better options for fueling our vehicles.

Then taking some of our key crops so so hopefully on the next year will see some fallout and that's something.

How is that how has it been for you as a global company.

You know based on what's going on in Europe based on the notion that China's contracting how does all this affect you.

Well I think the biggest thing that's going on globally is that.

There is a huge expanding middle class with people who want to.

Have the same luxuries that Americans you -- -- suspects in like mozzarella sticks and that and that and on the other side in the US.

There's been great pressure bring being brought to bear on that middle class so for companies like ourselves.

Main street is supposed to Wall Street.

We're looking to expand main street -- and other countries to follow demand and build facilities.

Do you believe the -- that -- that you know that these global economies are slowing.

Their growth is slowing the middle classes -- alive and well as far as you can.

Always burgeoning all around the world -- and you know we don't have a lock on problems.

Whether -- economic or political or social in the world.

Other countries are going through similar things that we are in the US but the key is how you handle it.

And who steps forward to lead us out of this and -- -- The peace maker who ever the peacemaker is its.

It that dialogue is the rhetoric is gotten so ugly and I think that.

On one side I think we're in gridlock I don't think anything's gonna get done until after the elections.

The good side of the ideas that nothing's gonna get down.

The biggest concern I think is some -- abuse of administrative powers that are through elected officials.

But just creating the red tape that's getting a lot of companies like ourselves smaller companies.

Especially to really look at the cost of doing business -- whether they can continue.

But -- that was gonna bring me to my next question then based on what's happening here in the United States you find it easier to do business overseas.

Well I -- I think the question of demand around and it's.

You know -- it's much easier to do business where there's a demand for products.

And in the US right now I think a lot of main street is not fighting for new markets as much as we're fighting for share.

But that can have a good side to there's tremendous innovation going on right now.

And it there are people who are going to survive by innovating and and that helps us in the -- us.

Okay so I have two I remind everyone that you -- here last time because you -- just come out the right angle.

Which is -- sports book running and you -- sports fan.

So I have to ask you big picture of the you can -- -- -- there was no NFL lockout we are now we had just finished an NBA one what's your thought on all that.

Well you know the economics have gotten out of him -- I'm not saying it Albert who holds doesn't deserve to.

I mean million -- -- I said well that's why didn't have to say.

You know he ended up I think anybody that thousands that's -- -- -- -- -- -- eight chronicled a lot of that in my.

A story about sports from an owner's perspective too and there's a lot of lot of good stuff a lot of other stories but.

I tried to take a look at sports ownership.

And more importantly I tried to create a present for people to give their spouses -- instead of a -- Christmas is nobody likes to.

As we should that he should we have.

Gone through these -- -- on the -- have needed didn't need to happen.

Well I don't think there's any question that something has happened but unfortunately some of the lessons learned in the past like the NHL lockout.

Really just bought a year in the salaries are back up to normal levels anyway so.

I mean it's frustrating but did the power is in the people's lives if the demand dries up people -- boycott -- with their feet.

And -- -- take care of themselves.

We haven't seen -- we could I keep saying to my son you know my son and I would argue about this to -- to the cows come home that these NBA players deserve their salaries.

My argument to him is that salary comes shows up in our ticket prices.

And and hey he's responses but this seems -- everytime we go -- he's not wrong.

Yeah but look for deals Tracy because this stadiums may be full but in sport to called wallpaper and and there are a lot of ways to get discount tickets.

And give families indices -- fallen and basketball games baseball's found that you find a lot of ways to get deals in baseball to bring kids so.

-- that was in the nose bleed seats we call them the diseases seats we are and we actually get Jesus talked excuse me since when you close the door of things go -- there's that mean.

But Richard -- to book is called it right angle hold up against -- why not how well I am not.

Great and I was -- six great time for Christmas in the proceeds go to boys and girls clubs.

Even more important thank you thank you -- have America again -- come back in the come back again in the market public 600 points.

-- -- and when.

And when they're gonna shut down Washington and like the harbinger of doom around here.

OK great measure not -- out of a Merry Christmas you to.

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