Skip to main content

tv   Bloomberg Business Week  Bloomberg  February 28, 2016 1:00pm-1:31pm EST

1:00 pm
♪ carol: welcome to bloomberg businessweek. i'm carol massar. david gura is off this week. coming up, we profile one of the -- the business is getting roughed up. we take a look at how the big lobbying groups are attempting to get their act together. story of amazing stuart gray. it he is single-handedly trying to say cats from extinction. ready to break out of the winter rut? all that and more as we go inside the latest issue on "bloomberg businessweek," right here on bloomberg television. ♪
1:01 pm
carol: economic senator peter coy looks at how corporate america is responding to criticism from democrats like bernie sanders and republicans like donald trump and ted cruz. >> the screening you here from across the potomac is the washington cartel in full terror that the conservative grassroots are liking them. [applause] about peter, you write the people are controlling the pitchfork and controlling the story on the campaign trail. how is big business responding? peter: it is been fascinating. you would expect with their integrity being impugned regularly, they would have arething to say, but they taking a low-key approach. for example, jamie dimon of j.p.
1:02 pm
morgan chase was asked what do you say to this guy, bernie sanders? he says you have a fraudulent business model. everyday he hits them with this. jamie dimon is not known for being a columnist person -- calmest person. carol: interesting. motor, donald trump is hitting them again and again for manufacturing outside of the united states. he sent a very nice to donald trump, donald, thank you. andctually are hiring investing in the united states as well. trump apparently sent him back in note, saying yeah, i am a big customer. get in adon't want to twitter war with donald trump. -- seemsems like this
1:03 pm
like big businesses are staying,. they said they had had a lot of victories in washington. peter: exactly. why should they go public with a brawl when they can get what they want quietly through lobbying, talking to congress, working the system? that just infuriates the tea party types even more. people feel that businesses are too cozy with government when they see businesses succeeding anyway. over the past year, there have been a lot of signature successes for business. import/export bank, the one ted cruz lights into every chance he gets and carly fiorina, that was one of her top issues. they provide financing for americans to export to other countries, companies like boeing and caterpillar.
1:04 pm
ted cruz will call it crony capitalism, or corporate welfare. looks like it was going down and it expired last june, but he came back to life in congress, back into law -- signed back into law by obama in december. carol: you do have these candidates bashing big business. at the same time, you have business doing just fine in washington. peter: what i am saying in this article, business should not just assume it is business as usual. carol: it may not be. peter: i think things have changed. ok, every year there are one or 22 candidates that will get out there -- there are one or two candidates that would bash big business. the mainstream people --
1:05 pm
-- theg hillary clinton big trade deal going on. companies like low taxes, but are not extremists. effortspposing the fbi to unlock -- apple opposing the fbi's efforts to unlock the phone. so few companies are willing to do that. they are not ideological. they just want to please their shareholders, employees, board of directors, customers. just get their work done. the last thing they want to do is go into a big fight with anybody. carol: have we seen this before? can we learn anything? you can.think there is an organization formed in 1942: committee for economic development.
1:06 pm
people were worried that as war spending ended, we would lap -- go back into a depression. the whole objective was to make sure the economy could evolve. they were instrumental in forming the world bank. very enlightened, self interests, big picture group. have their heads down in the books focusing on the quarterly earnings and so on. i am not sure if it is the right strategy. if you don't have a good positive message, if you can't persuade the public that you are acting in their best interest, you do invite the pitchfork. carol: there is a lot of momentum against big business. it fascinating story. peter, thank you.
1:07 pm
you can read the cover story in the latest issue of "bloomberg businessweek." few china tigers exist. why is a bank trying to save them from extinction? that is when bloomberg television returns. ♪
1:08 pm
1:09 pm
hello, and welcome back to "bloomberg businessweek." david gore is off this week. stewart is a rich, litigious chinable banker who has
1:10 pm
tigers in a ranch in south africa. this he do it to turn a profit or anchor his wife? kit, this is a good story. you spent time with this guy. gray? stuart >> stewart is an interesting guy. he is a likable person. he is very driven, passionate. guy. fundamentally a city he spent his career in banking. very clever, capable, and passionate about things that matter. one of the things important to him is tigers. he spent 10 years of his lies and a huge sum of money trying to rescue carol: the tigers. carol:they are beautiful. it involves chinese officials. tell us about that.
1:11 pm
>> the south china tiger is functionally extinct. they are probably aren't any animals left in the wild. zoos are 100 or so left in in china. he has to persuade the chinese government to give him some hish china tiger cubs and job was to increase their numbers. eventually, he would return them back to a wild habitat in china. carol: he has already brought some to china? any back to brought china. he has 19 animals at his reserve in south africa. happens ton is what those animals now? a have a great home in south africa, a wonderful reserve. they can hunt, breed, and feed. the question is what happens next? the tough part of this equation is arranging them for them to be sent back.
1:12 pm
carol: the chinese want them, correct? they had been working with him to do that? had a lot ofts attention in china. he has had the animals for 10 years now. lots of people in china want to see the animals come back to china. it is a chinese tiger that needs to be on chinese soil. it is a difficult thing to do. they need a lot of room because he are solitary animals because huge amount of room. there aren't many places in china where there is enough good habitat for them to go. carol: what is interesting about this story, there is a fair amount of drama in it. he has a girlfriend, or a former divorce,ng through a and that is woven through your story as well. he has a lot of litigations, lawsuits as well. himne of the things about
1:13 pm
is he is a passionate, driven man. that leads him to be successful in many of the things he does, but it also result in him falling out with people he works with, and most recently falling he isth his wife, who going through a divorce in the london court system. he says he is a crusader. idea, he willn pursue it vigorously. even if that means clashing with people. he has a long history of litigation and legal disputes. carol: it was initially kind of her idea to do this, correct? he was a banker. it was the late 1990's when they were together. he was -- he had a busy career in finance in a city and his wife had ended her career in marketing and was looking for something else. she had always been a big fan of conservation and especially big cats. it was her idea to do this.
1:14 pm
he became gradually more and more involved. he was fired by deutsche bank. that is when he got really involved in the project. now it has taken over his life. carol: where is he financially on this is the mark he did walk away from deutsche bank -- where is he financing on this? he did walk away from deutsche bank. >> he had 19 tigers in an area about four times the size of manhattan. they need a full-time staff to look after them, be them, manage them. and dozens ofs electric fences that need to be maintained. it is hugely expensive. he has been doing it for 10 years with his own money. the charity will run out of funds. he is trying to work out a way to fund it going for it permanently. carol: where is he today in his mission to bring south china
1:15 pm
tigers back to china? >> you are in a critical point -- they are in a critical point in the project. number ofreased the tigers. they are breeding well. they can hunt. the next stage is getting them back to china and they are in the stage negotiated with the chinese finding a suitable habitat for them. that is the difficult thing. dealing with the chinese government is extremely difficult with -- difficult for a westerner. to know how hard long that process will take. the tigers may go home next year, the tigers may go home in 10 years. carol: it is a fascinating read. he is on a mission. safety say it has taken over his life? divorce are the things that are taking up his
1:16 pm
time. the divorce is linked to the tiger charity. these two things are what he does now. carol: interesting to you about this individual. kit', thank you so much. coming up next, we go to the back of the books -- suffering from the winter blues? we have just the thing to pick you up. details when "bloomberg businessweek," returns.
1:17 pm
1:18 pm
♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. david gura is off this week. nascar is doing a 180 itself toward a new ownership structure. the auto racing organization introducing a franchise tech model. those charters guarantee a slot in every race in nascar's top circuit.
1:19 pm
while the move may wrap up sponsors, it may not grease the wheels for drivers. want to take a step back. what has been the nascar model? the teams show up with a car, driver, and crew and compete for prizes. the heady when one-year rolling contract with nascar that kind of laid out the terms for racing and prizes. they had no stake in nascar. whereke the nfl or nba the owners of the board of governors that run the whole enterprise. they are the league and control it. we have revenue coming in reliably. carol: that is a really different structure than what you see. this has changed here to the are handing out charters. what is that about? >> that is a half step toward a franchise model. they give 36 teams a guaranteed slot in every race.
1:20 pm
they can be bought and sold, which is new. in the past, if you were an owner an you are losing money, you had nothing to sell. you had auto parts. but no real equity. so, this provides a transferable thing that an owner. it is a limited number. 36. they will not add to that. carol: supply and demand. i love about your story, i guess i did not quite understand the financials of this industry. i just thought there was a ton of money, broadcast coverage. what is the money in this business? >> it cost as much as $25 million. the range is $50 million to $20 million. to $20 million. they don't make that much in prize money.
1:21 pm
they depend for three quarters of their revenue on sponsorship. that is the model. the brand on the hood is supposed to cover your costs. that worked for quite a wild, especially when nascar was booming. it started to go into a slight decline right around the financial crisis and that had sponsors retreating. only the really top teams were able to get a check from a sponsor at the beginning of the year and cover the cost. as that went away, a lot of teams were starting to lose money, or just survive year, and the winter nascar and said, we need more money for stability. carol: how does this provide long-term stability? now is as ast thing nascar charter team, you can go to a sponsor and say you are going to be in tv, and in the race for nine years.
1:22 pm
they are nine-year charters. they plan to keep this model going after that. that was the first go at it. the thought is now you go to whoever it may be -- big brands. it is big money. -- sometimes a cover that $20 million. now you can say, let's do a five-year deal. who knows what it will be. carol: any signs that this is a ?mart strategy i already seen teams invest in a long-term way. some of the teams lesser-known highere to go out and slightly better drivers. there was a team that did this in january that would give them more stability. they can upgrade their driver and when they go up -- when they go back to their sponsor, they
1:23 pm
have someone to get them in the top 10 more often. carol: bottom line, it is a new business model? >> yes, and it is like what we have seen. carol: now they have an exit strategy for some of those owners. interesting stuff. thank you. to take a look at the etc. part of the magazine. we bring in the editor of the section. we want to begin with the cover story. the etc. spring fashion quiz. around the globe, there are all these fashion shows going on. you guys decided to do a quiz for everybody. how come? >> we wanted to have fun with it. in doing a quiz, it allows the reader to make decisions about comfortable,e or not comfortable with fashion, and see what works.
1:24 pm
we did not want anyone to feel left out. carol: you wanted to be nice? >> exactly. carol: let's talk about the quiz. you talk about things like denim and ask what he means to everybody? >> it can be your uniform. it could be your indulgence. they can be something you are only comfortable with on the weekend. for infants, if denim is -- for instance, in denim is your uniform, you might be comfortable wearing a full denim skirt. if it is an indulgence, maybe you are inclined to wear a navy and four days a week, monday week you may wear an indigo suit. for some, that could be a massive step out of their comfort zone. we are also talking about -- carol: this is me, find for the weekend. >> you can incorporate some denim in your footwear, or maybe your pants. carol: one of the questions i
1:25 pm
thought was fun, when you see a guy with a messenger bag, you think, what? , i like thatink a' dude hostile. you could say i would not get anywhere near a messenger bag. a couple of the bags you have -- >> we would consider them may be briefcases. carryall's.ean >> they are a little smaller. carol: are you a risk taker and how much color is too much color? i guess it is what your comfort level is, right? limb are going out on a for guys seeing you can wear a blazer and a shirt with shorts and there is going to be people who say it, absolutely not.
1:26 pm
[laughter] then we suggest a pleated pant if you are not comfortable with shorts. for women, bare shoulders is a huge trend. carol: note to self, we do not do that at bloomberg. interesting, interesting. you talk about color. i thought that was interesting, too. >> for guys, green is becoming the new navy, but not like a leprechaun green. we are talking about greens that bring out a lot of blue. for women, we are seeing a ton -theme.r in orange coral you can be most comfortable wearing a charcoal gray suit if you are a guy. even wearing a light, gray suit and then white and khaki. carol: it is an interesting and fun.
1:27 pm
it is not your typical etc., but it is really fun to go through. i wound up mostly in the a section. and cd myself answering b to some of the questions too. carol: fashion can be a lot of fun. thank you so much. that does it for this week's edition of "bloomberg on bloomberg" television. i'm carol massar. we will see you again next week right here on number television. ♪
1:28 pm
. .
1:29 pm
1:30 pm
announcer: "brilliant ideas" powered by hyundai motors. narrator: the contemporary arts world is vibrant and booming as never before. it is a 21st-century phenomenon, a global industry in its own right. "brilliant ideas" looks at the artists at the heart of this. artists with the unique power to astonish, challenge, and surprise. to push boundaries, ask new questions, and see the world afresh. in this program, we take a close


info Stream Only

Uploaded by TV Archive on