Transcripts For BLOOMBERG In The Loop With Betty Liu 2015022

BLOOMBERG In The Loop With Betty Liu February 26, 2015

Money. Why not simply find it amongst themselves a way to transfer this funding . Betty investors are showing confidence in the reform plan. Almost 8 million done thomas a hundred Million Dollars return to the banks on tuesday. A truce was supposed to start 11 days ago but ukraine says separatists violated it repeatedly. Ukraines currency has fallen more than 50 against the dollar this year. A ban was lifted late yesterday. It is now up to the house to stop the partial shutdown of Homeland Security. The senate struck a deal on the 40 billion budget for the department. They will attempt to block president obamas executive order on immigration. He spoke about that in a town hall meeting in miami. What we said to republicans is instead of trying to hold hostage funding for the department of Homeland Security which is so important for our national security, fund that and let us get on with passing Immigration Reform. Betty some House Republicans say they will not back the senate plan. Home i security will run out of money and midnight tomorrow. A struggling bank gets a new ceo. Bill winters will take over as tender charter at Standard Chartered. Janet yellen may well be relieved to get back to her own desk today. She endured the roughest congressional session of her oneyear tenure. She was accused of being too cozy with democrats and the white house. You are not willing to tell us the answer to a very civil question. You want to tell us i am not getting involved in politics. Two weeks before an election, you are making political statements that are consistent. I am now making a political statement. Republicans have introduced bills that will give more control over the fed for congress. Expect more fireworks out of washington today, just not on capitol hill. The federal Communications Commission instead. The outcome will affect every americans access to the web and every company trying to do business online. Peter cook has more on the vote and the likely fallout. Any doubt in the outcome today . There is no real doubt as to what will happen today. We fully expect tom wheelers plan will move forward based largely on the strength of the democrats on the fcc. This will be a deeply divided fcc. The two republican members of the panel have expressed publicly their opposition to this plan to moving in this direction and forcing these open internet rules into the marketplace. They say they are simple enough necessary. There isnt a need for this kind of Government Intervention in this space. Theyre trying to solve our problems that does not exist. When you have is an fcc moving forward. Tom wheeler is calling on the most aggressive action based at the fcc could entertain to try to protect an open internet. He would reclassify broadband. There would be no paid prioritization and no fast lanes on the internet under these rules. Wireless carriers would be covered for the first time. There would be an effort on the part wheeler says by the fcc to refrain from opposing all of the rules they could impose through reclassification. This will be very controversial. We have heard some opposition already. The fcc commissioner speaking on bloomberg west a couple of days ago talking about his opposition to the plan. That micromanagers virtually every aspect of how the internet operates. It opens a door to billions of dollars on taxes for broadband that consumers will have to pay. It would lead to slower broadband speeds. I wish you could only see this 332 page plan that will become public after the fcc votes on it. That is part of the drama today. We will get the full 332 pages. People will be able to go through and look at the details. There are question marks about what the approach is here and what Companies Might be benefiting the most or impacted the most. It will be a watershed moment for tom wheeler and the president who put him in that job. President obama may have the most to do with today after his big push for Net Neutrality. Betty thank you so much. Certainly a very important day in this debate. Can do to midnight on friday when the funding for the department of Homeland Security runs out. The senate came together on a deal that would pave the way to fund dhs. The pressure is back on the house. Speaker john boehner has made it clear he wants immigration included. I dont think anyone wants to shut down the department of Homeland Security. What we want to do is block the president s executive actions that were beyond the law and be on his ability to do. Betty one man working to bring the two aisles together is congressman bill keenan, a democrat from massachusetts. He now joins us from washington. Congressman, how is Speaker Boehner going to get republicans to support this . I think all he has to do is let it go to the floor for a vote. Let people vote for it. There are enough democrats and republicans i believe that will support this. All it takes is a little democracy and we wont have this problem or showdown. Betty are you sure there are enough votes by republicans to support this clean bill . I feel myself by talking to members across the aisle that there would be enough support. Evidently the leadership on the republican side has not counted too well either. Common sense has rained in the senate. People are now looking at if the house is capable of acting they want the way they are supposed to. Betty are you confident because simply looking at polls right now, if in fact this bill fails 55 of americans will blame the republicans for this failure. I honestly dont care who is to blame for this. This is such a fundamental responsibility that congress has to act on. You had the fbi director yesterday say this active investigation in each and every state of the United States. You had three people come to light in new york and the fbi foiled that plot. You have historic snowstorms. That is part of the agenda as well. Disaster relief for those communities. These are serious frontline issues that are the basic response abilities of government. I think the public through some of this polling is not think it will happen. It doesnt think we are capable of this. Look back 15 months ago at the government shutdown. Betty to have been many reports of what exactly would happen if we past midnight on friday and dhs is unfunded. What exactly would happen . 30,000 employees would be for load and the remaining 200,000 would still be going to work they just would not be working for pay. Let me give you two points. We learn from the shutdown that those support services are important. We saw functions that the administration thought would be protected as necessities in the government shutdown, and they fell apart because they didnt have a support system. The shortterm budget gaps are already hurting our defense as a homeland. Airport security port securities frontline firefighters in so many communities ready to come online will not be coming online to provide basic fire protection. These are the things being hurt with the stopgap budgets. They are being delayed. We dont see the planning that goes on. We studied the tragedy in massachusetts at the boston marathon. There was an 18 million grant. The reason they were able to respond so seamlessly and save so many lives was the training that went into place. That is expensive but worthwhile. We saw the results of that. The training procedures will help. Betty you raised the point earlier talking about the boston bombing. You waste of my earlier of the three men who had been arrested and charged with plotting to join Islamic State in the middle east. You being a member of the Homeland Security committee should congress be paying more attention to this . How can congress be dealing with this and not dealing as much with the 5 million undocumented workers that republicans are focused on . I think secretary kerry testified in front of the Foreign Affairs committee yesterday. There are funds that reflect counterterrorism efforts that will be much more effective than we have now. We have to deal at the root causes as well. Many things that have to be done deal with taking the disenfranchised and people that feel left out, particularly young people, that are susceptible to being converted over to radical actions on the internet and reaching out to them. Building bridges. We have to deal from the roots as well as militarily and homeland. In the homeland funds are delayed, that will be slowed as well. Betty it is terrifying. Extremely scary to see those headlines. Thank you so much congressman. While washington is keeping busy with the fcc vote and trying to avoid a shutdown, in maryland, top conservatives are attending what is on his annual gathering of americas Rightwing Party meant to highlight the rising stars. Speakers include Chris Christie ted cruz, and scott walker. He had no trouble singing their partys tune. Because you know i am all about that base, no liberals. I am all about that base, no liberals. I am all about this base, no liberals. I am all about that base, no liberals. Betty here is a look at our top stories this morning. Greece is spending its hopes on a European Central bank. They are counting on the ecb to save them on a payment for the imf in june. He says the ecb owes his country more than 2 billion from a bond program and a things money should be given to the imf. In ukraine, the government says a ceasefire may finally be taking hold. Authorities say there were no attacks overnight by prorussian rebels. The truce was supposed to begin 11 days ago, but ukraine says the rebels violated it repeatedly. The masked Islamic State militant known as jihadi john is from britain and a welltodo family. He is identified as a west london native with a College Degree in computer science. He has appeared in videos beheading several hostages. He was believed to have traveled to syria in 2012. Prosecutors accusing three men for supporting Islamic State. Two of them planned to go to syria and jointly terrorist group. Prosecutors say one suspect wrote on a website that he wanted to strike fear in the hearts of infidels by shooting president obama. Israels Opposition Leader is taking aim at benjamin netanyahu. He says the pm should cancel his upcoming speech because it will cause damage to the u. S. Israeli relationship. John boehner invited netanyahu to address a joint session of Congress Never told the white house he planned on doing it. Those are your latest top stories. We have been hearing about u. S. Companies getting hit by the stronger dollar. The impact is for those that have to do a lot of business overseas. The latest example is hewlettpackard. This chart shows that shares boomed and then went into freefall because of the greenback. Against 90 of its business from outside of the u. S. And has a sales floor of over 3 million people, most of them livingd by the way. I want to bring in the chairman and ceo, ricks going goings. Is the greenback having a big impact on your business in a negative way . It is in translation. In our core business, it really is not. We have multilocal businesses out there and we try to run our businesses in local currency. Where you feel it is when you bring it back home. Betty you do bring it back home right . Yes. That is where you feel it. If you look over 10 years, its long to about 1. 50 negative. Betty this is not shocking to you then. No it isnt. Our Management Team is global. Most of us has worked elsewhere in other places of the world so we are used to managing a global portfolio. You just have to do business and what is necessary in those local countries. Betty i looked a little closer at tupperware. You said this is not your mothers tupperware company. This is very different. You have seven brands under your portfolio. With the stronger dollar, you basically got a 30 discount anywhere you go to buy something overseas. Would you be adding some Global Brands to your portfolio . We have no interest in acquisitions. We have enough to do with our core business. When i say enough to do, i mean enough opportunity with regard to the runway ahead in the emerging markets and the emerging middle class. We add a billion and a half to the middle class and most of them will be women millenials. About 50 of the millenials dont want to have a job. They want to be an entrepreneur. Betty all over the world . All over the world, we are seeing that. Betty what do you hear when you step off the plane and you talk to your sales force and you talk to your clients . I would go back to d avos. Every time i went, i could feel a theme that year. We are deeply engaged in gender parity issues. This year, there is an angst out there. What came out was the report that 1 of the population has 50 of the wealth. I hear in markets people who are under been a worse want who are entrepreneurs want to move themselves up to be empowered. Betty the appeal a resentment among them that the wealth is concentrated . It is an awareness not a resentment. There is clearly a resentment out there. It was only about a week before davos the events in paris. There is a group out there that has been on absorbed. Often it is immigrant populations and you especially see it in europe. Betty absolutely. When there is no path out, this is what happens in many cases. Stay with me. Much more ahead because Patricia Arquette brought it to light at sundays oscars. The gender pay gap and how to wear is on a mission. Hes out there. Theres a guy out there whose making a name for himself in a sport where your name and maybe a number are what define you. Somewhere in that pack is a driver that can intimidate the intimidator. A guy that can take the king 7 and make it 8. Heck. Maybe even 9. Make no mistake about it. Theyre out there. I guarantee it. Welcome to the Nascar Xfinity series. Betty you are watching in the loop. Good morning. Hillary clinton delivered her first speech of the year this week. She urged them to do more to help women in leadership and called for equal pay. Up and down the ladder, many women are paid less for the same work which is why i think we all cheered at Patricia Arquettes speech at the oscars. She is right. It is time to have Wage Equality once and for all. Betty we are joined by someone who has been a longtime advocate for female archer viewership female entrepreneurship. This is very interesting because you do walk the talk here when you say you want to empower women. 40 of your board is women. 35 of your units are run by females as well. In basic question to me that if it works for you, why is it not working for others . Why dont others do this . Education. They need to wake up and understand this isnt social service. This is a Business Economic principle. Betty you are not doing this for charity. No. It is nice to do good things and we believe that. We do this because it makes sense. It is leveraging power. We have three group residence in the world and that is our highest level in this corporation. Two of the three are women because they are smart. Betty when you say education that tells me there is a miseducation that women are not good leaders and they are not oriented to being entrepreneurs or becoming ceos. When you say education, what does that mean exactly . It is understanding the reality and fact that men and women are different. Seven years ago, i did my first one in indonesia. The largest Muslim Population in the world. I had all the men who were husbands of our fema distributors come in. I do speak the language, but simultaneous translation and we talked about in an educational entertaining way the difference between men and women starting with the brain. They have more wifi in their bring. That is why they can multitask and men struggle to do one thing sometimes. I saw the lights go on for some men after that discussion. It is our largest market in the world right now, indonesia. It has grown 35 per year and the president of our indonesian business is a woman. It is educating them on facts. Betty he said 10 years ago you are a host at davos. This past year, you had how many sessions . We had 12 sessions. I am now proud to be a trustee of the whole concept of gender parity. It is one of the 10 major points of focus at davo at davos. Betty hadi you know it is not just to make them look good . It starts with talk at then it goes to walk. What will you do with it . Had the secretary of the u. N. For womens issues at sitting at my right side. A program has been created called he for she. We are in this together. That is a lot of sheep for she but we need more he for she. Betty were you surrounded by women growing up . I have three daughters, an older sister, and a younger sister. Betty women have been you down and be in it into you then. On the job front, i read in an article that if you want to be a tupperware salesperson, you can make a good amount of money. You can hold five parties a week, you can make 2000 in sales and that and you 41,000 a year. That sounds like a nice tidy sum. What about when learn how to code when women learn how to code, they can make twice as much . Rick there is a career path. She can be a consultant. Ive often said between behind every successful woman in tupperware is another woman who has mentored her, coached her. We have numerous women in tupperware that make ask figures. We have some that make make six figures. We have some that make seven figures. Betty selling tupperware . Rick and building the organization. We have a young woman in borneo who has a 2 million business excuse me, 20 million business there. She probably makes more than 1 million per year. It is exciting to see. Betty thank you so much for joining me this morning. Great to see you, rick goings chairman and ceo of tupperware brand. Begin about jobs and earning money, we have a bunch of economic numbers out right now. Cpi inflation numbers, durable goods, but also in his also initial jobless claims coming up above that 300000 level. Scarlet fu has the breakdown. Scarlet these numbers are coming out a little bit l

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