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Having my welcome to foxbusiness.com.
Live I'm Tracy burns your Dow down about 27 points right now -- -- -- markets like.
Not doing anything it's it still.
-- -- -- -- -- -- Indy 500 down four.
Oil continues to treated the same old -- -- got the in the morning exit 2004 president I think a gallon that's pretty darn good.
And even Californian it's usually really high.
I think it's averages 3003 cents a overall.
Even -- oil is down oil traders not happy.
We consumers we drivers -- -- so bad these days and don't forget when oil and and win gasoline prices go up that is essentially another tax.
Our wallets raises more money out of our pocket less money in the economy so it's somewhat of a good thing keep -- down.
But again oil trading around 75 dollars and 81 cents -- NASA news of the day basically merger Monday all over again.
You leaders say they were gonna -- held Alberto-Culver.
-- of course you know makes.
A -- VO five -- -- shampoo you can buy for a -- at Wal-Mart that I'm not mistaken -- anything healthy but that's just me.
The deals valued at two point seven billion dollars usually was an offer at 33% premium.
Over Friday's close pretty -- good deal -- also said it would acquire AirTran.
-- one point four billion dollar deal.
And this is an attempt to revive its growth strategy intensify pressure of course on the other US East Coast carriers and Wal-Mart -- -- -- -- -- what -- -- billion dollars.
And south America's mass Smart move into Africa.
Wal-Mart will be everywhere.
Taken over all things at home we gotta talk about what's going out this market these days kids it's in his own it's in a trading range it's not going anywhere anytime soon.
-- -- sit gases in a range oils and arrange everything basically it's almost sitting in waiting.
And the volume has been anemic I will say though you have a quarter close on September 30 -- you could see a little bit of what they call window dressing that would be had been managers fund managers.
Getting money -- to show that they are actually invested that you're paying them to do something as opposed sit on the sidelines and wait a little sources here with the CEO of Atlantic capital.
And I -- will we see some in addressing.
I think you see you'll see some activity against quarter and clients are rebalancing so.
-- success you've got out of bonds some people are moving to stocks still have some movement the question -- follow through.
-- as we move into the couldn't get a fourth quarter.
Let's talk about this month -- certainly been the best month the B is beaten in the best series tell her spirit -- great in what almost fifty years now they're saying.
So -- what does -- mean was that.
Sidelines I need to get back end was -- by the spirit of a reason for -- A part of its anticipating QE2 OK okay do we get that kind of next adrenaline shot back into the marketplace encourage people have a little more confidence.
-- you're talking about.
Government in seven days and that's our -- -- was pushing money back into the economy so you're saying that that -- up was somewhat of an anticipation.
Of that exactly.
Not the elections manuals say this -- -- was anticipation -- Republican sweep.
We're gridlock break or gridlock your -- the end of the day we have to have confidence of businesses continue.
To rationalize themselves OK and then we can get.
Profitability consecutive and so that people are have a constant -- by other businesses like you're talking about in mergers.
Banks have the willingness to finance -- improvement sequentially in the business activity.
And so I think we need to start to have this you know time to build itself are we seeing it are you seeing and I think you're starting to see it I mean we've actually hired this year you have absolutely.
Interesting so let's talk about okay September -- for weeks you've seen in a long time it does its day is it a blip.
It's not that it's a blip I think it's just again progression I don't think we get we're gonna get people hired right away back part of -- of adjusted.
In these tires okay to how to we basically do more with less and so I think again it's profitability it's time.
One of the things is we're just impatient if you will for that recovery.
And so I think then the question is of people are on the sidelines have in the find some sort of active.
Engage and we talked a lot about in at least the real story it's hard to move because you're underwater now.
And so that's that is drag on basically economic activity right now.
And I -- and memories of a good point there because.
The housing market is -- Just not looking like it's gonna change or improve anytime soon get well so how then could the stock -- continue to keep rising if at home economically.
It's potentially giving it more support it's better.
Well -- it again we're looking at the marginal improvement in housing and we have plenty of people that have house certain OK you have your house I have my house do I need to move or new morehouse today now we're -- -- then a question is do we have.
Qualified people are moving -- their confidence to go long.
And stimulate new activity -- and the same time people willing to.
Move out of -- -- to buy homes at this point there's certainly a preference and we've seen that last five years of people would be renters -- -- -- -- I would do anything that will continue I mean especially.
With an uncertainty in the the economic factor and in my job if if -- uncertain in my job anywhere it'd be wild at -- -- -- -- -- Big fat what are you probably don't need to write a great -- right K you can still be productive contribute to the economy.
You're actually taking savings you might have for not as they -- take care of your home and basically spending that play and -- it.
Great potential -- -- right.
So the twelve -- have months of imagery that we have which is way above normal could stay for -- -- -- sure again there's excess inventory and markets where there.
You know a lot of this inventory was built in markets where there weren't jobs in the first place yes exactly it is cheaper substitutes.
For high cost cities.
-- -- -- I imagine your question a lot of people have these days is I don't -- at -- home.
I feel food price inflation at all and I seen housing still suffering dramatically people still losing their jobs and yet we have a market that seems like it's ready to take off.
Well I think part of it is again you have companies are extremely profitable.
They have access to credit and they're destroying themselves much more efficiently today and so as there is more.
Recovery since the sentiment then they're looking the market's anticipating -- follow through.
And we did see an increase in the end of this inventory number.
On Friday -- -- -- -- -- sign that they think eventually the consumers gonna come back but it's really all hinging on us right we had to get up for budging gas and shop and nobody is willing to do that yet.
Well I think again as we move through time people have that confidence you can only.
Hold your hand -- for so long holidays will be interesting re absolutely -- -- about Samir picks because they are we'll -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Again they owner of class a office buildings four major markets.
Boston New York Washington DC and San Francisco again they're very strong landlord today and I think.
Corporations want strengthen their pet than their landlords and -- that's made them very attractive they're also delivering a terrific -- down in Washington 22 that.
-- they are yet.
So now what's interesting -- But -- dishing about what some properties your point is that there in key markets correct it's ending at issue no candidate is Marcus I was gonna do okay.
Well I mean there they will continue to -- ball again -- round.
Financial services legal profession.
Tenets that want these large assets and senators of commerce right -- -- -- -- so much more comfortable than say like.
A Taubman Centers which is -- him malls -- Iraq.
You know again.
And they're really better every -- not so bad in Los Angeles.
Again top and on very high and these -- high and malls exactly so as opposed is discount correctness wins out Pena have.
A whole array of great opportunities whether it be a little strip senator around the corner all the way up to a mall.
They may be in -- market it's overbuilt with malls so you're having you're losing Tenet's C wouldn't do would you do this -- senators sound.
With the lowest quality assets I think we're gonna have a bias that we don't have any interest in -- -- that.
Would you look at the public companies they have really very strong footprints.
And what you're seeing is that some of them we we lost a lot of -- with the economic pullback we're starting to get a rebuilt.
And let's talk quickly about Starwood resorts and to hotels and resorts.
This is the W -- the Saint Regis I mean these are -- -- in China really well established brand again a thousand properties around the globe.
You know very strong footprint so not only are you getting -- the US.
But also footprint outside the us are -- -- and people are traveling again is that we're saying -- I think our stock -- part of it's that.
You're seeing price recovery again people were traveling.
But the response was we have to make sure we continue to keep people in the hotels let's discount rate and so what you're seeing is -- improvement which is really driving stocks.
Michael let's get Stefan in I'm hoping what you're seeing comes true commercial real estate turnaround I have absolutely it's going to be a grind before Nvidia knows him over the next couple years I mean the private real -- market still -- to work off.
The high prices that we went through in 20062007.
And really restructuring -- -- long term -- these are long term hold these are really great footprints again.
The public companies are only about 10% of the commercial real estate footprint that's in the United States so we expect more of that will move.
To public hands and -- -- over next three to five years but against a private industry rules that.
Good stuff Michael Torres CEO -- add on to capital base and Oakland California who.
-- are coming now appreciate it thank you I'm -- the weather so that it's raining here here I think scattering her all week actually.
But this makes -- I get up on Monday but.
The Dow lying down to any point it's not so bad could be a -- -- we take a break we come back actually talked about the jets and the new.
Meadowlands stadium and how they now have this command says they control everything it is the coolest thing.
-- -- -- Welcome back at the -- live I'm Tracy -- the Dow's only down 23 points is not terrible we did some -- deals announced this morning.
Not -- -- -- a lot of -- -- although we are looking at the best for weeks or this month of September 1 of the best September's we've seen in almost fifty years.
Quarter close coming up a September 30 -- you might see some action as our last guest just noted.
The window dressing you know can -- all that -- on the -- some -- and it -- by apple or something along the -- -- -- shareholders actually think he did something -- quarter.
We -- -- talk about are accessible season I know some policies and have a nine year old and I know -- the -- season.
And we also now anywhere from Jersey knows that they've been working on the meadowlands for life which seems like an eternity and there's still this big ugly.
Piled thing in the back that no one can figure out I think it's going to be the mall.
The big -- -- is new.
And apparently they got some wicked command center going on -- control every beer you drink.
David -- Lett is here vice president client services at browns are to talk about this command center.
-- this is -- I mean first of all -- Johnson.
Taken as it ahead step ahead of his peers with this week doesn't mean the owner the jets he basically says I -- know every -- everybody that comes in every beer that's drank.
Absolutely when you spend one point seven billion dollars at a stadium I think you know you want to make sure that.
The fans are getting the greatest experience -- could possibly get your maximizing the revenue opportunities so what is it exactly that you services are doing so so essentially.
The jets approached around arch.
Before the off season during the summer and said hey you know we've got this new stadium.
A bunch of concession stands we've got parking we've got people entering the stadium we've got merchandise there were trying to sell.
And instead of waiting for reports to come in sort of the next day and then try to create correlations across the different data sets.
How much -- that cell you know they can they can basically do some of the stuff afterward they wanted to be -- -- view that during the game.
So what we created was if you think about -- -- 42 inch multi touch monitor -- multi touch is really kind of like if you think about the iPad.
It's the interaction with the iPad two fingers operated you know you can get some expanded and -- yeah.
We've got this 42 inch touch screen -- Stallion now you know what though we aren't gonna have to just take two seconds to take a breath.
Because our very own -- claimant is out -- Hercules 101 and she is coming to us now off the coast of Louisiana in the Gulf of Mexico.
Basically given us a sense of what's going on with his drilling moratorium list.
There hasn't been know what is working yet I mean this is a crazies think.
You're absolutely right Tracy in fact we've moved up the -- -- on Hercules 201 -- three and a half miles off the shore of the Gulf of Mexico off Louisiana we've moved up.
To the helipad here on the Hercules.
Oil rig and you know what.
The doctors normally there -- be water to coming through here a day they've got nothing why.
Because this -- is -- it cannot get a permit behind me all of these other rigs these are all from Hercules behind me we've got Hercules.
253 Hercules to a seven Hercules to look.
Fifty and Hercules 77.
All of them idled because.
Right now even though there is no moratorium on the shallow water drillers up moratorium is in essence for the deep water drillers.
Washington is not issuing permits they've applied they've applied over and over again.
And the permits are coming in just a tiny trickle just six have been approved.
Since the BP spill so what we've decided to do is common tell the story Tracy of the shallow water drillers.
Are these -- the guys who produced two thirds of the natural gas clean burning natural gas.
In the Gulf of Mexico.
But -- -- real small chunk of change here for these companies but certainly for consumers out there who have refrigerators that run on natural gas or air conditioners.
And of course switch over oil anytime they want they do -- a significant amount of oil here but again shallow water is 500 feet deep or less.
Which also means they tend to be much safer they better safety records no deaths in fifteen years.
And just fifteen barrels of oil spilled in fifteen years to separate incidents one was five barrels -- was ten barrels compare that to the BP spill.
Four million barrels so.
All day long we are telling the story of this and listen Trace I know you'd appreciate this guy's girlfriend to girlfriend here can't believe what it took to get out there we've got some video we got up early this morning via the Fox Business -- Boarding this what's called the supply boat we got on the boat but then once you get on the boat when you go about -- our offshore.
You then get in what's called a -- Q which is a flat piece of metal surrounded by netting.
And yet it just.
It just kind of -- -- that adding Tracey adds a guy that got to go have got a 100 feet yeah.
I am a blonde girlfriend.
A -- he had -- you know it.
Crazy right and so what we're doing is we're telling the story on the very day that the president's oil spill commission is meeting.
And we're hearing from sources that perhaps the moratorium.
Might be lifted for the deep water guys within a week but what does that really mean if the shallow water guys don't even have a moratorium and they can't get permits.
-- the deep water drillers get permits it's a big conundrum here and everybody.
Wants to know the answer jobs are at stake Tracy.
-- you can -- see I mean my goodness so they lift the -- -- and they don't allow it you I.
Imagine that people are just sit in back I mean they must be -- and -- down there.
You're absolutely right we're talking to workers all day long.
They are so -- of these are highly skilled professionals are not doing grunt work but I moment.
They've moved brother Rick they're cleaning their painting but how much longer can -- -- it's costing Hercules 25000.
For this -- alone so multiply that by all the -- they have standing idle.
Just to sit here and wait at what point will John -- and the CEO who will speak to us exclusively in the 3 PM eastern hour.
-- just pull the plug on this they can't wait around much longer they do have international operations which have been keeping the company afloat.
But it is devastating for them.
And look you're talking about a good 20000.
Jobs at stake here for all of the shallow water drillers.
Whether it's the gulf states but some people travel as far as -- -- -- Minnesota we got guys from Minnesota on the spot.
And they come they do their fourteen days on fourteen days off.
Because the money is good -- -- they've had so much invested and it's their career Tracy -- seven years.
By the way nobody -- against safety regulations in fact they adhere to them very specifically we were not even allowed to step on this thing without.
Giving our medical information and I'll argue that social -- all of that stuff we you know they're very very concerned and they put they put -- -- safety drills we know exactly what to do with god forbid something would happen not gonna happen.
It's an idol Rick.
Liz what an amazing story and I feel my heart bleeds for those people and you know life is a matter of national security to we need to -- country gets up dependence on foreign oil and yet or not you've covered this story -- be safe.
Going on good -- gotta strap back on to that thing to get out of there.
Yes I think actually -- Really well it's actually kind of fun I'm sure exactly -- I have a target -- great -- -- -- -- and I was like so if they have a back.
Exactly it's like -- -- Superman get a and be safe be saved lives -- -- Off on an oil rig Hercules 201 and the gulf.
-- off by the both the Gulf of Mexico Louisiana thank you so much.
This -- sure they -- giving because this whole notion of no moratoriums and no permits snakes you wanna go -- We are gonna go there though we're gonna go back to the deaths actually because David Bentley is still here with us vice president client services at -- -- you were telling us that the whole notion.
And Woody Johnson came to you and said look I wanna know in the middle of the dean that is certain concessions sent -- has -- I'd be here.
I want to know how many shirts that their son who.
-- actually and it's not only about sort of inventory during the game where they have some systems that actually do that but it's more about how do you serve.
You know change the experience during the game for the fans right.
So you know that if you know the jets win for instance you know last last in the we're at the game in the command center was up we watched it after the game and we could actually see.
That when they won they they increased sales of merchandise difference -- -- homer -- shirt so what -- beer I'll -- -- -- -- -- that is exactly because after the Baltimore game it was a little scary -- you know -- everything going on here in New York he said maybe the jets are gonna win it.
-- isn't that interesting so that the way that -- performs also.
Basically affects the bottom line and we know that with ticket sales beat -- you don't think that I -- -- the other stuff that comes with it.
Yeah absolutely and and what we're trying to do here on the touch screen -- Is you know you've got these four areas right so you've got parking were all the parking passes are scanned as people come -- through the parking classes.
-- you've got the ticketing where people get scanned as they come in through the stadium gates.
And then you've got of course concessions -- sell everything from hot dogs to beer and water.
And then the merchandise side things right so the idea here is that.
You know as you enter the stadium you know they hate tailgating is great you know they've got this new.
Rail line that heads right in front of the stadium and is actually a train experience around tailgating.
I think that sponsored by you know one of their main sponsors.
And beyond the idea here is that.
You know the fast he can get fans in the stadium.
That's the better for that yes certainly this semi yeah.
On so what we try to look at Tom -- waste assertive you know juxtapose.
The time that it takes people to -- tickets so that the people standing at the gates the workers there scan in the tickets.
We we track things such as average scans per minute -- my hands so we can see things and then if Woody's sitting at his command center which is in his suite at the game.
He could basically say -- look.
You know let's expand the stadium let's look into this particular area we heat map areas around concessions that are there not doing so well or doing better.
Say there's an area in the right hand corner of the stadium.
That actually at -- at -- on the 300 level that has some red concession stands he can drill in any could actually hit a camera.
And see what's going on and.
That is going and -- -- that's every -- team are you just coming to our other teens doing this by the giants using -- the giants I think will eventually send them.
That's not right now say they are not right now that's the teams are managed in his -- separately boggles my mind because it's this same stadium don't -- concession stands.
But -- run completely different.
And I think that that's pretty consistent across the rest of the NFL so you know obviously the owners.
They they -- collaborate in some way I think there's some sort of revenue sharing thing that they've got going -- you know but dumb but by the same token they are competitors that quarter when it gets down football don't show up on so.
-- you know what I think the jets and the giants collaborated on which is which is awesome.
Is this beautiful stadium that is a home for both of those teams right so by the flip of the switch that you turn from green to blue.
You know managing that managing the revenue side of it is where around -- kinda came man.
On the help them you know with this fan experience concept.
Which we are -- -- incidentally talking to a number of venue management companies sports team to setter -- Around this concept the -- Olympics.
So you know where traditional companies for years have been analyzing data and trying to -- than you know recognize trends within the data.
We're allowing you know sports teams in venue ownership to do that for their fans real time.
-- I think -- it to me it just makes so much sense and again we Johnson is you know it sees -- Smart guy he wouldn't be doing this if it wasn't to his advantage.
But talk about how you doing this outside of sports I can use this with corporations can use this with.
I don't know I don't think you can uses -- -- Yeah I mean you know for us around -- this is all about the digital experience right.
And the digital experience extends to whatever company you're working for their customers understanding enough in sites around those customers to be able to react.
And and improve that experience -- the customer has with -- So for instance we talked to you know within the sporting -- -- if you think about the PGA for teacher write the PGA tour every single week.
Essentially sets up shop on a hundred acre golf course that and they they put up concession stands they put up merchandise the best way that they can.
And then at the end of the tournament or at the end of the day to basically run some reports -- they had and we did.
And then try to make those tweaks for next next week Bryant.
What we're seeing here is that you know think about you know not only the touch screen itself which provides that data in real time.
But a couple different things right -- that -- just having that data onto itself is really good except.
The action that you take as a result of that during the event is really where it happens here.
Tool we're talking about is pushing out alerts to iPad pushing out.
Similar data so we have.
You know someone who's running the PGA tour event notices that.
You know concessions in a particular area are not as heavily trafficked.
As other areas that they can say hey -- -- push it out to someone's mobile phone and say go take a look at this area instead of riding around you know.
Golf course -- and trying to noticed that very cool.
I got say David I think it's genius idea I love the notion that we Johnson -- in the comments and I'll watch.
He knows any -- -- that.
Critical it is dated as that thank you so much vice president client services around our good did gaming take it out.
-- camera will Camelot to me that sometimes made him.
Where you take -- break when we get back to get a lot -- to talk about we're gonna talk about vacations to my my favorite things.
Dow is down 24 points -- back.
We'll look back at the -- -- -- Tracy -- Dow going down twenty points are now we talked about how today's merger Monday we have bunch of announcements this morning.
Let me get them free to you know -- by Alberto-Culver.
That's than Alberto VO five people.
Southwest said it was -- acquire AirTran for one point four billion.
And Wal-Mart didn't sell this South Africa -- by mass -- try to take over Africa now because it's basically taken over our country.
I love Mattingly is something about the giants game yesterday they were well -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The -- -- was going on in this world today as far as consumption in the way we consume things it's not so much.
I -- minutes off for me it's more about receiving -- of each other -- share and use the wed been.
Twitter FaceBook is -- out there these days.
Rachel -- and Rogers here with me now to talk about well they wrote this book the rise of collaborative consumption -- what's mine is yours.
I love this -- could you quit it's it.
Having a library -- Right through I'm out there I have a library card at the buy books the kids -- -- -- all the time it's similar that's collaborative consumption is an.
It perfect -- of -- consumption is about taking.
Shed measles books and giving people access to it so that we actually don't have to have a book store -- by the way.
Two to keep it and says read a -- -- the very fast the most obvious pieces of crap.
And so -- as is carpooling and things like that.
But Rachel what's different now look -- what are we seeing these days in the way companies do business yeah and that sense what's happening is like these old ideas and sharing -- -- trading up being reinvented through technology.
Say basically if you look at everything -- -- it copped to at CT eBay.
We can trade and -- through the Internet in ways that we that that.
Whenever possible before and that's opening new markets the company it's insulating talking a lot about this whole notion of an essay as seen particular.
It's just done so amazing and for those of you don't know Etsy dot com basically you make something it's kind of like your craft -- dream come true right.
Instead of and then -- -- the old -- flea markets which I love to -- badly on Sundays from your kids -- go troll through these things and they smelled so bad.
But instead of having to do that and deal -- that you put yourself online and you just sell out almost sunk -- time.
Yeah I elected -- on -- and you can sell anything.
Out toys to picture frames to Hillary.
And I love let them in the recession when you recount was found at -- group by a like a 150%.
In -- three months.
I think people money that they can trade if the kid and -- the middlemen and have their businesses says that the trend -- peer -- -- -- route that.
We don't need it and add them to push him but -- -- -- -- -- anymore right I can come directly to you.
That's right I mean -- to be as being held -- so the whole scale of new businesses ranging from eBay.
Where basically people -- to trade directly to others to so small startup entrepreneurs -- finding ways to use online technology.
Start businesses to sell to other consumers and to show -- to consider.
And then making money about is there a way to make money doing this and making serious money -- we couldn't -- presidents who rented from Arizona that way it's like everything from -- -- -- -- -- hit hit travel site -- you make money from -- I guess that we do more costly in Scotland Yard shot to and from.
The average -- is making 15100 dollars a month.
And that's serious income extra income from doing less just from renting out and -- written.
A in New York -- I slam I permanent rents my house staffers Super Bowl when it comes in New York in what is it turning twelve panicking here yet went up.
Yes -- I have to just leave and if so if you will likely house in the Hamptons that just sitting there idle this thing -- these assets now to rent out -- to -- Still I'm really need to do as far as startup -- is start let's -- -- and just get my stuff online.
Yeah I mean this says basically make it easier once you get yourself online like you know once you have appeared to this system you -- reputation system that -- the uses.
To find out what repeat the reputation of the bias of the senate side.
-- that you build trust and reliability but yeah the first step is is to go online because it saves and comes of coordination and the costs.
Can you talk about some of that is some examples you cited where.
-- city which is a -- solar panel rental academic sense what's the lending club -- lending club is then you say to quote sexual lending.
Says -- me if -- a hundred dollar and then and I have a hundred dollars to Bart it matches.
It's like it's -- -- barring amending.
And that they give it -- -- traditional lion that cutting out the big banks in the middle -- -- charge -- interest.
Each other's means -- that he makes around 9% interests on his mind.
And the average people raise -- point 64% because there's transparency.
And accountability between the two and a it's been lending club yet people are lending money out of their own pockets let's say yes and if not I mean this houses and hopefully not this Oprah in the UK.
I think lending club did fourteen million dollars in lions last month.
And humanity 10% of the pestilence that within the next to you it's it's not meet those -- things if that's the real new economy that's neat is.
Brilliant that it's capitalism at its best saying screw the government altogether we're gonna do this ourselves basically your overriding the banks that.
Yes right there -- and it's not just the government is if the -- that well yeah.
And I think it's taking out in the UK because -- distrust of banks is so high today with the class of northern well what he's just saying it's -- -- -- More than a -- back.
Which is every game and I Hester might have been many -- and -- that's so -- that really -- and -- car.
Really graduate current and we will how to get -- right right his cops cautionary.
This is the next generation on where he was saying -- -- -- -- -- -- side of the 23 hours of the day on average white and I went out my neighbor and make money from it.
Six hit the PS cost sharing.
And it's it's ideal for sabathia as well you know we have lots of Costa sitting on streets -- this is saying I can check my -- you -- -- -- Income.
I think the whole thing I'm loving this lending -- I think I just love that it and the -- with a whole notion is genius and it's certainly on the rise.
The book -- -- what what's mine is yours the rise of collaborative consumption.
Rachel -- -- rather thank you so much for being with us mentioned -- -- -- certainly -- that we continue to watch.
Check that -- lending club it's got to be lending club dot com right it is -- club back.
I I'm gonna go check it out in the break and we come back then we're gonna talk about vacations we have said that making his oh and I'm -- narrow high schoolers love this story.
We'll be back we -- a doubt it's moving slightly that's that -- -- live karma -- they're back.
Welcome at the -- live on Tracie burns the Dow -- inching up only down nineteen points right now again that is the FBN live karma.
Some of some of got to do it -- got to give people a reason to get positive and I will be the person.
Speaking of positive nothing I did good vacation at -- -- good mood thankfully we have Gordon series here chairman of sandals resorts international.
Sandals and then of course beaches are the family resorts sandals.
The luxury all inclusive hotels out there.
You guys have miraculously held on through this whole thing how has it then the -- how come.
We just keep doing involved critical -- you know we have more long -- intrusions.
You know our results than any other result in -- war.
Lie on the policy and it read that you need all the things you offering your packets the things that were awful the quality of the -- that -- awful.
We -- mall.
More quality mall.
No month than any other set of results in the entire -- -- sandals couples only.
None of the couples Norman if it isn't that why maybe it's -- time because it's much easier for a couple to get away -- say a family.
Found both as -- Vijay as well.
These beaches we keep put that in -- and wonderful gets let them.
God given his get -- -- you don't.
I put out -- my my son -- was no authority.
Attended three years old.
As chairman of the youth coming to.
Because you know.
You know -- -- and -- that I dual.
Everything about from a pick him up but -- send me your reported that.
Everything -- I mean.
We we have results.
With six on them that 600 keys and fifteen restaurants.
400 he is eleven restaurants.
Bodies everywhere we include scuba diving for the highest level of obvious provide -- We -- kids that it cares or -- that obvious -- Moment that program.
We get it.
Environmental awards almost the -- Because we have anonymous everywhere big guns.
And all but -- -- fun.
Guess like guns alive and green felt that I put -- that they know.
Isn't my mentor and friend we've we've -- disappeared and -- -- different environment food.
Things very enunciated the reef could be to book -- rewarded.
In the school loan amount.
-- he is it because it is not perfect.
Full disclosure I my kids and I'm going to -- for years now and I remember when I found beaches I was newly separated.
Single mother except newly divorced single mother with that one did a place that was contained.
I didn't know what it was going to cost me an I didn't know at the time that might.
Then four year old was it.
Chronic -- agri -- thank god we have an all inclusive plan could she must had candidate for assembly and there's still that policy -- about -- -- can that be able to drink them again went out best cost them.
My thanks NIC -- -- they keep going at the moment the moment when that broke me -- and -- that exact reason you're right they do.
And you're right that the restaurant haven't -- -- -- even notice that they've improved everything's improved over the years but what amazes me is that -- -- and is it because.
I know at least for this one price I suck up this one price I'm gonna get all this great stuff.
But more than that -- that level of quality -- to -- an Emmy for example.
Royal plantation which is -- five straight five.
And at the end of October.
You -- competition becomes found those vote patient.
Another problem the second all -- the result that.
They need in the sensitive because people that you interview and my opponent indefinite but -- problem anymore.
But it costs on me in the music and then doing things also helped provide revenue mean image -- -- where great -- -- Bahamas.
It's been difficult in previous times -- -- it because of the end if they get there.
But you know -- to -- that tries so we know their regional jets and they're on a 2000 people on the island and some -- -- -- -- flies in -- weekend and American Airlines.
On the eighteenth of December wars and -- -- a reminder of the mound and home.
On the price tries daily on and on that we can that's -- -- -- -- line -- so we.
So all these things -- not Greg Norman the golf course that -- element that -- -- So -- all this stuff that the -- Is the best quality can find -- -- -- -- -- on -- four different types of food and after few restaurants up ten restaurants.
-- it was that a little room called.
Do you do and they keep getting better and better and I know.
You also have -- a frequent flyer club so it's not like I keep going I get a trip you're -- visit freeze that's true.
Made them live in my office took those are women assume it's a narrow angle packages -- -- -- but but this I think the point it is hospitals -- Where are we have a repeat -- of that like nobody is yes well that's I think you can offer -- -- Nice time to get the -- free people do it now says something when they also moment that a reference.
You know William at William satisfied people that don't promote chairman ms.
That's been our key.
Thought it -- -- in the -- properties in Jamaica and there's been a lot of talk lately about and it's unsafe there's unrest in Jamaica has that had any effect on visitors there with a robot that can generate music without.
-- directing them roll up my my did on.
Everything is up on -- -- can -- -- a lot of up and is that this thing go up.
The government doesn't have the right approach and they went in the truly got remove them crime and -- has long fought for things.
Since may of this year it's unbelievable.
And that's -- -- that's not told did we make a bigger story out of the Jamaican -- and it was -- was it truly annoying founding members knew was at the time the group I think it does.
-- Fair amount until the -- that the -- -- a very fair and I think the media.
Jamaica made -- mistake -- something hop and there.
People who you know abuses the -- business.
You're -- -- -- because people might run for -- this here.
Took the thought of it so much back up.
It how can live from what purpose of my -- this I think that's probably the thing that yeah.
It's been so much -- them.
Now tell us what's happening with the world travel awards America's -- ceremony that -- sandals White House that's October 5 whatever that we're product.
You know -- this.
No war so that weather on the World -- -- Them over their own.
Doesn't -- mafia.
Thinning them a lot -- -- more with outside.
Decided to how we can you make of this yeah that's your property yeah I found those -- those we love and longer life.
Found otherwise tell us is then from there -- there is a rural area.
It -- profit Jamaica that fell -- for the last -- look at the -- agree I think the most magnificent book aside for the month it.
Not so real divided island thoughtful and very intelligent it's on this felt press -- OK -- I mean even though I thought went -- -- their benefit.
For the result.
Jobs at that we look straight in the fun thing.
And -- this magnificent being.
Spas on I mean not close they're not great how is it's it's where.
Ought to put a plantation though none of them sort of the other -- to -- his -- exports of the -- -- sort of thing.
-- you chairman Adam is full blown and starts.
A longer operational -- the operating costs so no longer just speeches he's doing all of -- we he was -- -- -- show recently and Stuart accuse him of selling.
Sex or lovers something that there was an even -- -- -- in that country.
I'm not -- defended -- so he certainly did you either brilliantly written review I -- are you up planning on opening any new properties anytime soon.
Yes this can't say no we started construction in central show for -- or the suites.
We're doing far killed though that's his sandals yes it is OK -- -- -- is coming up.
We have tons of beaches and -- those -- well I'm.
In thoughts and -- because we.
Want to expound about the result of -- very for the time being.
What they're doing is put combat -- that comedy -- we have the most unique accommodation anywhere you -- this.
Misusing an expanded more.
No reports -- unique stuff you know there's a cap they they've suites -- those videos -- Sort of within a few more I'm out to be careful because some of the kids -- too many forms of -- who was forward Vernon -- -- adaptable lot carefully.
But with -- silos.
Where they've put two more Ron -- supporters blog bedroom homes who was.
You know the river streets have been to a defense is sound so nice sandals there would be no kids we have had a -- system.
For the last frontier survival by about have to be careful there.
I don't know about.
We have a best -- -- -- of of them -- for more -- -- was an idea and that thank you so much your being there going through chairman of sandals resorts international -- sandals its beaches.
My my daughter said it tell you she's ready for her next -- marriage -- seriously I.
I haven't done it sounded like it to six if she couldn't see her veins are pink from drinking survey exactly thank you so much of seniors I don't know whether through streets and -- -- -- -- -- -- do you think it.
-- my little soon to be drunk.
Where you think you regularly get back rents on about I didn't I schools.
Doubt that -- when he -- points.
I welcome back at BMI -- Tracy -- the Dow was not moving down 22 points -- now.
We talked about the merger's.
And we still have a lot -- -- -- got crude futures.
Basically down everything down -- in arranged to -- -- -- -- to me Monday but.
-- -- the -- shot to this hour is that.
High school kids are entrepreneurial now I don't know that you but I think back to what I did in high school and all I was concerned about was.
What I was going to look like after schools that I could see the boys and well -- Now here we are and it's actually entrepreneurs out there Amy Rosen is here CEO of the national foundation for teaching on.
-- -- -- This is amazing to me.
I was first Sunnis to -- that college kids were starting hedge funds but I guess that's college but now high school kids are getting into the scene what's changed.
Well the world -- changed yes I mean -- the knowledge -- world in which kids.
-- you know they think that just read a statistic somewhere that they think that the average.
Kid who's now 1516 will be working for.
Employer or beat their own and play -- less than thirty people.
So whether they have you know whether they're teaching entrepreneurship -- -- entrepreneurs and sells -- whether they're working for small companies they have to learn these companies.
You personally are -- as parents because.
My mom never talked to me about work and stuff when I was a kid and now I feel like the kids impairments -- these days and you know I knew of parents who -- high school kids who would be come home and asked you know his dad knows his job like.
They heard so much is it because we are it's ubiquitous it's everywhere you go to the daycare there's you know.
TVs on yet.
He can't escape it is that part of the problem and these kids are so much more aware.
Well part of it.
And part of it is the rules of the game are changing so they -- than it is today aren't gonna exist tomorrow so kids particularly kids coming out of high school and college are really scared.
-- kids that have had -- -- opportunities in the world we work almost exclusively with kids from line can communities and -- low income.
So the best definition of poverty we have an education is -- -- the free and reduced -- programming note does your family qualify for being reduced wind.
We only work in schools were at least half the kids qualify for me reduce one's okay so it started way back in 1987.
When -- Originally just as a prevention for dropouts and wait -- -- academic outcomes.
But that was really for the at risk kids that were -- at risk of dropping out at risk of failing schools the same kids that are headlining the news programs this morning all over.
This country the same systems that broke down.
His have had very little opportunity.
And -- with us.
Teacher in the South Bronx.
-- a business background and he figured out which sounds really.
To the rest of us now.
But that -- you actually taught them entrepreneurship they started.
Taking their inmates -- street smarts which kids.
Who are not from privileged backgrounds have that they have to you know -- every way and that's and they translate into academic smarts and this -- And so these kids we we honed and entrepreneurial.
Curriculum which is now fortunately enough has had 350000.
Kids throughout the world -- -- where ten countries and 21 states here.
But it is letting kids have the opportunity to actually see things that they can actually do and right.
OK -- tell us when this happens.
The -- this one cut this if there's one coming up -- with coming up October 5 the bachelor is the 2010.
-- if challenge program which is our national business plan competition that we do every year so this is where and -- -- And game right now we started.
Last fall with all the kids went to school including years in the spring September 2010.
They started with the entrepreneurship classes every kid had an opportunity there is always over 20000 -- To create a business plan and to do -- competition in their classroom.
Those kids who went through -- won their classroom when they citywide went to reach him live and -- October 5 we bring the top.
When he entrepreneurs representing.
Actually to top 31 entrepreneurs is here representing 28 businesses.
In New York for the week and they compete for the top teen entrepreneur of the year and these are not kids that have come from.
House's with lots of support privileged user -- -- -- pulled themselves up from the bootstraps.
So those kids compete it starts it's all day top business executives on -- maneuvers.
-- inserting in the morning and then by 6 o'clock we're down to the top three.
And those -- share and you know a prize sets.
Worth more than 20000 dollars for the three.
And they can spend it launching their businesses or -- -- academic.
Gold -- life and there extraordinary.
Tell me now OK so I can't get in this now but let's say -- kids at home we know kids at home one do this for next rounds where -- they go ahead of the get more information.
Fifteen and the network for teaching entrepreneurship we call it fifteen series in NFL TE dot com dot com yeah.
And we do is for schools that we don't teach and we do -- camps during the summer instead of you know.
Learning more about the fact that American checking -- out this summer to create a business if curriculums for teachers in school.
Well that's what we do we trained public school teachers.
Two pizzas so what if I'm not low income can I still down box you can get about lots -- a matter fact this it.
The way that the stuff works is that we need thousands of volunteers every year their classrooms from kids to.
Adults to -- -- competitions to mentored kids and this year we have added a new elements of the competition it's an elevator pitch.
That's one of our top kids had an opportunity to film thirty seconds literally we really laughed we sunken -- because they faulted him in an elevator.
Because the beauty of the elevator pitches that is it once you know my son has -- geometry test music why do I need to know.
PolyGram -- guns and I'm -- I don't know but meanwhile the elevator pitch is something that could take him throughout his life because if -- ever starts a business.
He can be fifty years old do.
Using an elevator pitch lands in the elevator pitch you need thirty seconds of meeting him on the subway this sidewalk and say this is what I'm doing and -- -- get your attention.
I need your business card you know.
And that's what I you can go to -- and this is that everybody can vote on this one -- -- anybody's.
Elevator pitch 2010 dot com Exxon and they can see these kids that are competing and boat but.
I wanted to say one more thing about what you learned about being relevant because we teach these kids all day long things does your -- -- experience.
That have no context of their -- yes when you take kids and you actually say.
You want to make figure out how to make some money you want to actually think they got fired up get really fired up and then they.
You know you can't figure your economics of one unit -- return on investment without knowing how to add fractions break and then getting -- they get it -- now I know how to mechanically do it.
They know why they're doing that I changes -- attitude.
I agree I agree Amy Rosen thank you so much so cool CEO of and it's adding that -- -- NAFTA.
Neck of the network for teaching entrepreneurship award nifty nifty that's that you say NFT dot com check it out.
That's so we -- today Levy on an -- -- -- kids.
Feel an entrepreneurial.
The death and that's my five point it didn't move on harm but that's cool it's OK I have a great -- -- --
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