Hours a day at bloomberg dot com in the Bieber business he says p n e w a Q Was there were no reports of a severance Isco No a global news update. D.n.i. That ing cliff collapsed and barbeques that President Truman dropped his choice of Congressman John Radcliffe to be u.s. Spy chief after questions arose about his lack of experience and possible exaggerations in his resume Democratic Senator Ben Cardin says Ratcliffe should never have been considered the vetting process was not done in this case here's a person who did not have the qualifications to be the national director of intelligence and he certainly was not going to be an objective head for the intelligence community would not have had the confidence of the men and women who work and serve our nation and intelligence one person is dead at least 2 others injured as a cliff gave way at a beach and sent out his California this afternoon rescue crews said the cliff was still unstable after the collapse 5 years after New York officer Daniel paddle ala rested air Garner placing him in a chokehold as he complained he couldn't breathe a police administrative judge recommended Panta Layo should be fired police benevolent association president Patrick Lynch disagrees with the ruling New York City police office is now will be considered reckless every time they put their hands on someone that's what our job is that's what you expect when you dial 911 when there's a criminal attacking you Panta Layo has been suspended awaiting a final decision on his fate from Police Commissioner James O'Neil President Trump celebrated a new agreement that's projected to increase beef exports to the European Union by more than $270000000.00 a year once it's fully in place where signing a breakthrough agreement that will make it easier to export American beef into the European Union you know we've been under negotiation for quite a while. And the farmers we didn't think were being treated fair but the European. In union stepped up China vows to employ counter measures as Trump plans to slap a 10 percent tariff on $300000000000.00 more in Chinese imports next month and barbeque sack. Resident decision should not be based only on advertising sponsored by case legal media attention this is an important message for anyone that has been diagnosed with cancer after being exposed to round up or other weak killers the internal Agency for Research on Cancer Ward that over exposure to round up and other weak killers may increase the risk of developing on Hodgkin's lymphoma Monsanto the manufacturer of May have known that Roundup and other weed killers were likely late to organ damage and cancer this information was hidden from the public as proprietary trade secrets since 981 and months said indeed we believe a resume is a great way to see an overview of a candidate but you're not hiring a resume for hiring a person that's why indeed offers tools to help bridge the gap between a candidate and a resume by skill test which lets you actually see the candidates abilities in action to make sure they're a good fit for the job see beyond the resume but indeed experience indeed for yourself today and get a free sponsor job great on your 1st posting and indeed dot com slash terms and conditions apply. A price tag has been put on the mall or investigation by the Justice Department as correspondent just as night or tells us we have learned in a filing that was just released from the Department of Justice that this special counsel investigation cost nearly $32000000.00 Now this accounts for both the direct expenses from Robert Miller's office as well as the money that he borrowed from other d.o.j. Components in terms of his own direct expenses for his office that totaled 16000000 dollars reality t.v. Star Duane Dog Chapman is calling on the person whose goal show merchandise in items belonging to his late wife to turn himself in Chapman told reporters he will ask police not to press charges if the person surrenders in the next 48 hours Chapman spoke outside his damaged store front in the. Enver suburb of Edgewater as police released surveillance video of a man suspected in Monday night's burglary are Boussac. From Bloomberg world headquarters in New York I'm Doug prisoner the u.s. Equity market fell today after President Trump escalated the Us China trade war today's move down kept the worst week of the year for the s. And p. 500 today the index was off 7 tenths of one percent meantime the Dow lost 4 tenths of one percent and the Nasdaq composite finished down by 1.6 percent many of the chip makers were down on trade related uncertainty especially around Chinese telecom equipment maker Huawei the Philadelphia Semiconductor Index fell 1.6 percent now the equity market has been under pressure since Tuesday when the Fed cut rates but failed to give assurances on further easing policy makers likely breathed a sigh of relief today after the July employment report the economy added 164000 non-farm jobs that was in line with forecast the unemployment rate was unchanged at 3.7 percent average hourly earnings meantime gained 3.2 percent that's on a year over year basis it was a tick above forecast manufacturing jobs blew past estimates posting the biggest advance since January even so the sector will likely face some strong challenges in the months ahead given the as collating trade war over all goods producing jobs have been weakening here is pretty a mystery of t.d. Securities I'm going to call out in same time out of actual recession globally each It's actually feeding through into the u.s. How does that concern to the service sector and they have frankly no idea how to get inflation higher so which is why they're trying this whole intervening selling this kind as an insurance guy I think unlocking to the action for the fan tells you the market has no belief in these insurance guts but love the u.s. 10 year treasury was last quoted in New York at Heald of 1.86 percent meantime the dollar was down against the majors we had the Bloomberg dollar spot index weaker by 110th the. One percent global news 24 hours a day on air and a tech talk on Twitter powered by more than 2700 journalists an analyst in more than 120 countries this is Bloomberg because he's a business sports should Major League Baseball sure know how to present to the audience and I don't think that most players understand the power they have the future of Indy Car racing is looking. Very basic math here or better means more money if we were you as a team valued as essentially quadruple the leaders in the sports industry to bring in our gas. Field hockey league commissioner Gary Bettman Braves president. President of the. Business of. Radio Hello I'm Adam Scott subject Michael bars off this week enjoying Hershey Pennsylvania but over the next hour Evan and I will explore the big money issues in the world of sports and talk to some of the biggest players in the industry coming up on the show we speak with Howard min c.e.o. Of Bleacher Report but 1st let's look at some of the top stories of the week starting with a big story from Bloomberg Business Week on next owner James Dolan not surprisingly had been I would think that most readers would walk away saying Jim Dolan need just still doesn't get it I think the takeaway is I'm glad I'm not a Knicks fan and the end of the story goes you know pretty deep into a lot of things that you know people who are even casual followers of the n.b.a. I think already know and that you know James Dolan is does not like the media and despite the fact that you know the team is probably the most valuable and richest team in the n.b.a. They have had virtually 0 success in the in the last 20 years and all the new the new that came out and it's it's new but it's old is that one of our reporters went out to Long Island to a concert venue to see Dolan and it is really for colors Jim Dolan as. Lead singer of j.d. In the straight shot but it turned out she was there a little early and Jim was sitting there by himself so she went over and introduced yourself identified herself as a reporter with Bloomberg and let's say Jim was not he didn't like that no I mean I mean to flipper Pad closed like this isn't the proper time this isn't about the Knicks and then had her thrown out of the venue called Secure walked away called security and had to remove from the venue now this is this is a public feeder she paid for her ticket Jimi doesn't own the theater not like it's m.s.g. And still had her thrown out and the theater was like well you know he's the headliner and he wasn't but so he can do that yeah he's got thin skin he's gets. This example you know z.-e. On a long list of public instances where he has you know whether against a reporter or against a fan who is arguing for yelling for him to sell the team. Shown this he showed that side of him before we also how story about managing money in football specifically college football and I know you love this specifically as you what are they doing Yeah so tell us you you know one of the richest departments in the country has for a while now given a kind of hell healthy some back from athletics to the academic side of the institution every year it was about 9500000 dollars a year most recently a lot of the big schools like to prop up their athletic department by saying we give money back but yeah I don't know that I see Texas news on back. Then Ellis you actually announce that they are no longer going to give. You a discount when Word has said you know it's not advisable for us to to do this right now. Which which I mean I think is you know it's kind of a testimony of where college sports is right now as a business right this is now as he was one of the few fully self-sustained athletic departments in the country that they could offer them for the year they take no. And from their students they take no money from the government or institutional now directly. But you know that they have $145000000.00 budget and they are refusing now to give money back to the school especially at a time you know when they are announced the new football operations building last week you know we talked about you know the photos that came out about the Middleton library right which as you know leaks and as it seems fairly dilapidated. In general higher education right now is underfunded but you put it another way in the grand scheme of things you pointed me to a very interesting story or somebody had done a study on the effect on recruiting and it seemed like it was minimal Yeah there's there's evidence out there that these you know that fancy lab. High end training facilities actually don't affect recruiting all that much and as we said I think rightfully so this is a way of this is a way of paying players without directly paying them right and then this might not be the way compensation that players actually want but that's what that's what it ends up with right now given where and see rules are but you know there are a few schools out there and I was she was one of them that was giving kind of a healthy chunk of change back to its academic side and I think it's it's unfortunate that l.s.e. Was losing that tiger out of college sports locally in New Jersey are good old friend Rutgers University they have a new locker room to the problem is unlike ls you which has a self-sustaining athletic department the Scarlet Knights bleed red I was really really different different ends of the spectrum here Rutgers is and I have for all the public schools in the power 5 they're the richest school conferences in college football you know records is the most subsidized program out there they have $100000000.00 budget 30000000 of that comes from either student fees direct institutional support or direct government or state support that's a huge number you know as we said Ellis You $145000000.00 budget comes entirely from athletics Rutgers 100 $1000000.00 budget 30 percent of that. We should point out your support for fairness we should point out that this particular project was funded by a donation This is a $4000000.00 project a privately funded from a from a gift from from a family. But you know there are certainly people out there who feel like you know that the institution should be doing a better job of trying to get its athletic department at a place not it's not taking you know 12 $1000000.00 a year from from students and their tuition has a New York market doing it in the 10 most Yeah so you know the record is a newish member of the Big 10 they're getting obviously a lot of money from the Big 10 their new media deal when it kicks in is going to be massive but you know a record new locker rooms yes but but still has a lot of work to do in terms of getting the financial situation of the athletic department on even keel All right Mr Novelli I'm coming up on the show we speak with the c.e.o. Of Bleacher Report Howard mitten That's straight ahead on Bloomberg business of sports we are here every week at this time and you can catch the podcast Mondays Wednesdays and Thursdays you are listening to Bloomberg business of sports from Bloomberg Radio around the world. Her. Anyways for the 1st decade or 2 if you're against downside risk. To the. Back of a. Gun when they get hurt I would be shocked if they didn't have at least one more time good news as it happens I'm 63 points to the Bloomberg business and Bloomberg Radio dot com. Attention investors stocks like you sideways worried about volatility then diversified a class a income producing property units for up to 21 percent cash flow national realties class a property followed includes only prime income producing new construction properties these are built far below market value in Brooklyn Hoboken Leslie York in Delray Beach Florida you are secure. 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Collided north 80 before Coleman delays from Bascom and then in Rohnert Park north one before Wilfred Ave They crashed off to the side has your back to front run a park expressway Bloomberg 3 day weather forecast for Meteorologist Rob St Pierre a cloudy overnight lows in the fifty's once again some early clouds tomorrow then sunny skies mid seventy's around the bay mid eighty's inland and we should see a repeat of that on Sunday Philly's pounded the Giants tended to in Philadelphia the Giants travel to face the Colorado Rockies tonight and Shawn Anderson gets the start has rallied past the Brewers 5 to 3 in Oakland the A's of 14 or 5 and are off tonight before hosting St Louis tomorrow what the Bay Area is bass traffic on Bryan Drake Bloomberg 960 and 103.7 f.m. H.d. 2. These is the business of sports from Bloomberg Radio with scouts joshing Michael Barr and Evan nobody will you thank you very much for joining us and today we are joined by Howard min The c.e.o. Of Bleacher Report which deliver sports content in real time event coverage serving readers around the world Howard thanks for joining us on Bloomberg business of sports Thanks for having me so you could make an argument that you know more about young kids in America than than most C.E.O.'s What should I be getting my nephew for his birthday yeah I didn't realize my parenting skills are going to be on display here as a gift I would say gift card to be the only thing that that can be used out in a virtual fair enough to tell us a little bit about no no Bleacher Report you know has a very young demographic give us a sense of kind of the audience that you guys are getting but it's kind of digitally on the app and all. So you know on the web so at Bleacher Report we have we have visibility report which is the hero Brannaman we have a series of portfolio brands house of highlights beer football beer gridiron b.r. Kicks hoops and a number of others amongst them that reach younger millennial and Gen z. Consumers and we've built it so that we can have Bleacher Report as the hero brand as I mentioned and then we have a series of verticals that align up across the sports and sports culture landscape to appeal to different demographics and to alternately create a horizontal out of all those verticals inside of the sports and sports culture niche and what's here is there an average age roughly of a good social across all our social platforms the average age is 26 it's he's a couple years older in the app but 26 is about what we look for same demographic as Major League Baseball is going to make the baseball you know what wait a minute so what's the secret sauce What are they what. I think it depends on what platform right so what it is that. Our community wants to Pen's and where they are but inevitably I think we run 2 businesses concurrently which is a bit of our secret sauce is what we manage now and what we're building for the future so the 1st business is the verticals I mentioned those portfolio brands across social so we have you know massive social following with a number 2 most engaging town across all of Twitter it's literally Donald Trump us and then Ariana Grande day although occasionally she gets into a Twitter beef with Katy Perry or Taylor Swift or someone so so young and she needs to she can jump there are months where she hits to and where we're 3 you get to beef with Trump. Although anything can happen these days so we run that business and we do a pretty significant percentage of our revenue across those social channels in a variety of ways because you want people to have that works yeah I mean sales. They don't cross the ocean when it but how does that work what are the what's the content how do they get it and then how does it amplify Yeah so when we think about social we think about that as our always on business so the always on business is that which we have to create and provide in order to satiate the never ending desire of what it is that sports fans Craven care about so I actually use the example of Bloomberg all the time because we are Bloomberg for sports think about it you know when you have the financial markets right it is ever changing it is constantly evolving there's news there is players as a constant need to stay connected it is you know not it is something that is sought out it's not found right it's a need versus It's something that just pops up in your feed sports is the same way and so our social business is built to keep the modern sports fan up to date and informed about everything live time that doesn't mean that it's reactive a lot of what we do is planned so as an example design Williamson launches you know his global announcement where he's going with Brand Jordan we have to be prepared for all the different permutations of where he could go to have graphics and visuals and stories ready for the 2nd that's sort of template out journalism you don't care then if the news breaks on your platform you just need to fill the marketplace once the news is out there and fill it fact I think it