Transcripts For BLOOMBERG Bloomberg BusinessWeek 20160807 :

Transcripts For BLOOMBERG Bloomberg BusinessWeek 20160807

It is meant to be a very Diverse Group of people, it is meant to be something they are all different. We hope that you take it to the beach. We have more than a dozen ceos, sometimes we are talking to them about things you would not expect. We have carlos talking about how he would change the work week. Just sort of unusual things. We have ringo starr on brexit, believe it or not. David ok. Yes, most people have, a lot of people have. And it is sort of unexpected, a nice unusual mix of people and it is fun. And you get to hear them in their own voice. A lot of times, you do not, so it is sort of an interesting journey. David lets talk about a few of them. The founder of the black lives matter movement, what does she talk about . She talks about the founding of it and how it is basically founded with a hashtag. And she talks about how so many people sort of have a misconception about what racism is. She says, it is not just about being nice to each other people being mean to each other or interpersonal relationships, but it is really about people, wellmeaning people who keep institutions the way that they are and keep systems the way they are in a way that does not allow for change. Carol she talks about the clintons, she talked to the president , she covers it all. She talks about donald trump. She really does. She talks about how the people who can change the whole donald trump situation are the people that he is appealing to. She says, it is not a matter of opponents of donald trump, mobilizing those who are not for him, which makes sense, but it is the people he is trying to address are the people who are going to prevent him from becoming president , which is important to her. Carol i love that she does not hold back. You also spoke to an author about the new book she has coming out that talks about a fiscal disaster. Ellen this is interesting. She is very well known for a book she wrote called, we have to talk about kevin. And what is interesting is she talks about what finance means to her personally and how her life has progressed. Now that she has a best selling book, how her finances have changed and now her feelings about money has changed. It is a fascinating look at somebodys views and how they have moved forward. David she ends up buying her own place. We had jerry smith talking to the head of time warner. Time warner taking a big stake in hulu this week. It is interesting thoughts about the future of media and how we watch shows. Ellen one thing we asked, how has netflix affected hbo and his view was, you should be asking about how hbo affects netflix, because the whole idea of the subscription business really started with hbo. And he talks about how the fact that there is so much more content on tv right now, it does not mean that fewer people are watching individual shows, but because of search and the way that you get suggestions online about what to watch, this makes it easier for people to find shows that they want to watch. David i spoke with jerry smith. He did the interview. David talk about the Big Media Companies today. He has been with time warner for a long while. Guest he started with them in 1979. And he started with hbo when it was a fledgling channel and he rose through the ranks and he became, he actually led hbo at a time when they launched big hits like the sopranos and sex in the city. Since 2008, he has been the ceo of his company. The company he inherited with this massive, media conglomerate. They had aol. Time inc. Magazine. Time warner cable, cable company. He looked at these parts of the company and said they did not really relate to each other and they spun off and what is left is essentially this Smaller Company that is focused on the business of hollywood. Hbo, warner studios, and basic cable channels like cnn, which is having a monster year in the ratings because of the election. David all the goingson. Absolutely. It is a really interesting time for this company. Right now coming with Companies Like netflix and amazon and hulu that are really aggressively ramping up original programming, really putting pressure on hbo to maintain its position. David what does he say about the pressure . How does he regard those companies and does he think they are doing something fundamentally different than he did it hbo . Guest i asked how the strategy has changed and he sees netflix almost copying hbo strategy, basically doing the same thing that hbo pioneer decades ago, except netflix is doing it over the internet, and i think he does have Great Respect for what netflix has done, especially with how, when you go on the next, is very easy to find what should you want to watch and you get recommendations. David algorithmically curated and all of that. He understands Reed Hastings and how he has developed technology that is useful. Especially when you think about the tv industry right now, more than 400 original scripted shows last year, a new record. There are more and more shows that you and i can ever watch. I think what he is really concerned about right now is making an interface so that when you are watching television, it is really easy to find what you want to look for. David you mentioned more than 400 shows right now, so when you of a Media Company in the room, you have to ask the landscape is saturated. If there is too much content. What does he say . Guest he says that this is actually, this is a good thing and what is happening now is viewers are really expecting to have a lot of good content out there. So just because there are hundreds of shows competing with hbo or tnt, that does not mean that people are not interested in getting hbo or having tnt in their home. He says there is Consumer Expectation right now for really quality programming. A company like hbo was the pioneer of that. Carol dozens of highprofile interviews and five different cover images. We asked the creative director how he decided what to publish. Five was the most we could do. We wanted to show everybody the range of people that we were interviewing. I think we had 39 or 40 people in the issue. Carol you would have done more if you could . Guest yes, actually. Them, so we95 of have a lot of photography and we were kind of excited to show this big diverse issue with a lot of people talking. Just in the cover, we have ceos an activist, we have , politicians, so it gets a feel of the diversity. Carol you make them different with the color and the way you arrange the interview issue across it. Guest inside the magazine, all of the quotes are designed differently and it is to reflect the fact that this is not cohesive about this issue, other than the fact they are all interviewed. You are getting all of these different voices from all of these people. That is reflected in the design. We wanted to do the same thing with the covers. On each cover, the word interview looks different. David did the same photographer take all of the portraits . Guest no, we had different photographers across the country. We tried it to have a cohesive look. And we also for the covers, we were very mind the color palette, making sure each color applied to the subject and also different for each one. I was pretty happy with that. Carol it is interesting. The color block it really kicks bloombergd businessweek. Why did you do that . Guest there is a lot of type in the issue. We did not want the subjects to feel completely buried, so we wanted to lower the logo so they felt a little more prominent. David up next, how Mark Weinberger keeps millennial please happy even when they leave. Carol Delta Airlines fineness. David and winning over Bernie Sanders supporters. Carol all ahead. David welcome back to Bloomberg Businessweek. Carol you can find us on sirius radio. You can find us in new york, boston to washington dc. This weeks interview issue has a oneonone with Mark Weinberger. David he spoke about how to keep millennial employees happy. David why was he somebody that you wanted to talk to . Guest i was interested in him because his company, ey, is such a Large Employer of young people. I figured, if anybody had a finger on the pulse of how you do with millennials, it had to be them. David you think about Public Accounting and young people is not the first thing that comes to mind. Guest it is surprising because so much of the workforce now, you think of people who are in the middle of their careers, especially with corporate jobs, but things like consulting and accounting, they draw heavily from College Graduates and it puts them in a sweet spot of dealing with people in their 20s, maybe their early 30s. So at a place like ey, was surprised me is the median age is 29. David unbelievable. Half the people there are under 29. That is a big change versus what those people in the u. S. Are used to. David is this a change that the company has pushed for, are or are they looking at the pool of where people are coming from . It is basically a response to what is happening in Employment Today people come in, particularly millennials are much more into what the notion of, i will go where my career takes me and maybe i will do this for a few years and then i will move elsewhere. That is a big change from boomers who thought, i find the company, i work there for 20 or 30 years and that i get attention and i moved to florida. That is not what today is the worker wants to do. David i was struck with how cool he is with that. He is not hiring people with the hope, maybe hope that will not come to fruition, that he could keep people for 10 to 15 years. I was surprised by that. I wouldve thought this to be a big challenge from an employer standpoint that, oh my god, my people will leave. But they figured out that there is nothing they can do about that. That is the nature of the people that they will hire. High potential millennials with good college backgrounds and people that are aggressive, but also think about their own benefit here. What they decided to do was to make the best of that, which was, i train you, i make sure you feel good about me. If you do leave, which is most likely going to happen, you will go out with a really good taste in your mouth and he will spread the word about what a great place i am to be employed at, but you will also send business back to me from your new employer and he will say, i know this Great Company they can do this job for us because i used to work there. Carol and the delta ceo in this issue, ed bastian. David talking about keeping delta on a winning track. He is very, very passionate with the fact that he had disagreements with the company of the time. They had launched a lowcost unit copiers back, never really going after the discount market, responded to southwest, jetblue and he is pretty adamant in telling us the history of delta that he thought that was the wrong strategy and out of that disagreement, he decided to go to another company. David he did. What can help them to come back to delta . I think the main reason was that several people he was having disagreements about strategy or replaced. Had been onhe time the board and agreed to the ceo to try to fix what was going on in the operation, and i think when he and jerry got on the same page, he was ready to come back and go through the bankruptcy and really start with a clean sheet. David how healthy is delta today . Right now, it is very healthy. They are pretty much leading the industry in terms of revenue premiums for the fares they are charging. They are really hitting hard on operating reliability and getting the planes out on time and making sure that they really do not cancel flights unless they absolutely have to. Delta does not cancel a lot domestically anymore unless it is the absolutely worst case scenario. So right now, delta is pretty much at the top of the industry in terms of earnings power. David we think of all of the low fuel prices we have seen over the last years, so how does that affect the bottom line . It has helped everybody. That alone has been a major, major boost for every Single Airline because that is one of the biggest cost for the airlines, obviously. They are getting the same benefit everybody else is. Airlines that have hatched field of gothenburg, southwest, gotten burned on that. In the aggregate, low fuel prices for an airline is a wonderful thing for these guys. David what did he tell you about the economics of running an airline today . He left when there was a big push for lowfare carriers. Where does he see the industry going . Low fares are still common across the industry and that is a lot about supply and demand, a lot more capacity for domestic today. When you look at a lot of things, delta and other airlines are doing well because it is not low fares across the board. The thing about airlines, you might not get a great return any in a particular area, but you are probably making it up somewhere else. There is really fierce competition and theres a lot of ultra lowcost carriers like spirit and frontier, but at the same time, everybody is enjoying some really healthy profits. David jill stein, up next. Her plan to win Bernie Sanders of orders. Carol and mtv unlocking their video vault and finding a brandnew revenue stream. David welcome back to Bloomberg Businessweek. Carol the politics and policy section, how the green Party President ial candidate jill stein plant to win over some orders of Bernie Sanders. Unlike someone like ralph nader was long before she was running for resident on the green party ticket, a green party activist. She was the Green Party Candidate for example against mitt romney massachusetts. She has been involved in a long time with activism around issues like the environment and she ran in 2012 and is now overwhelmingly likely to be nominated by the green party in 2016. David she is a medical doctor. You write recently she has made some comments about what she sees as the potential link between vaccines and autism, something that has been disproven but it is still something widely talked about. How much does health care, her job in health care, effect what she does in the political arena . Asked made comments when to the Washington Post about vaccines in which she referenced corporate control over regulation is something that might make people have less trust in vaccines and said something about how when she was practicing, there were issues able raised in some of them may have been resolved. It was a somewhat equivocal answer that people found unsatisfying on an issue where some people may really be looking to political leaders of all stripes as validators on a question of what you do with your kids. On twitter, she said after she got blowback about this, she is not aware of any evidence of a link between vaccines and autism. In health care, she has been a critic of the existing system, including under obamacare and said, when i followed her to philadelphia, that we have a sick care system not a Health Care System and there is more to do to make it that everyone is covered. What he talks about more often is the potential for a climate apocalypse, the degree of economic inequality in the country, in a sense where there is no more time for democratic or republican approaches to some of these crises facing the country and the planet. Carol up next, Marissa Mayer on corporate motherhood. David senator Elizabeth Warren takes on volatile. That is next on Bloomberg Businessweek. David welcome to Bloomberg Businessweek. Carol we are inside the magazines headquarters. David we are looking at the interviews issues. David Marissa Mayer on working mothers. And mtv making the old new again. Carol all ahead on Bloomberg Businessweek. David here with the editor in chief, ellen pollock. So many mustread interviews. Lets start with Marissa Mayer, ceo of yahoo that is the now sold to verizon. An interesting story how she got to verizon. She was at google before hand and she talked about the challenges of being with the company in the early stages. Ellen google was young and she talked about how the founders had only been like rollerblading on the campus of stanford and how much she learns there. And for a verily long time, she had at least one all nighter a week, working 130 hours a week, which is a lot basically how exciting it was. And then she goes on to talk about what it was like to be working at yahoo during the last year where it was for sale or it was not for sale and so much was going on. Carol and she talks about parenting, because she had kids through all of us and it was not always easy. Ellen and she had twins about the time that they were getting bids for yahoo and there were decisions on big tax issues, whether they could spin off part of the company. And activists at her back. Verizon calling. She says she was the busiest person on the planet. Actually someone said that to her and she really was because she had twins at the same time. I personally could only handle one. And twins, that is impressive. Carol another busy woman, senator Elizabeth Warren. She has something in common with donald trump. She did. What she has in common with donald trump, there are a number of things, one of them is glasssteagall and also tpp. She wants tpp dead. She was asked, do you really think it is . And she said, i do not feel it. He very adamant that it is dead. And but also comes across is that she is going to keep her i on Hillary Clinton her eye on Hillary Clinton and make sure she follows through with her promises. David one thing the reporter asked her about was the role playing sees herself with Bernie Sanders going forward. Ellen that she will be watching at all times. Carol speaking of donald trump, another individual that comes up in the magazine, charles ham, wellknown in the oil ind

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