tv Taking Stock With Pimm Fox Bloomberg May 23, 2014 9:30pm-10:01pm EDT
>> this is "taking stock." i'm pimm fox. let's begin by taking look at the market moving headlines. let's go to carol massar, standing by. >> new-home sales climbed in april for the first time in three months. easing concerns of a setback in the residential real estate market. the 6.4% increase was the biggest in six months and spurred by surging demand in the midwest. regulators are looking on whether there is a new ignition switch defect involving older dodge ram pickups made by chrysler.
there've been three reports. one incident resulted in the death of a child according to investigators. google, intel, and adobe have agreed to pay to settle an antitrust lawsuit. lawyers are seeking approval of the deal. >> thank you. according to a recent consumer reports article, talenti was rated one of the best ice creams with less calories than its competitors. revenue was 2.5 million dollars pre-2013, sales soaring to $100 million. projected to reach sales of $150 million this year. i'm joined by the chief executive officer, steve gill. thank you for being here. you are a hero to the studio.
you brought varieties of talenti. tell us about your involvement with the world of ice cream. >> thank you for having me. i joined forces with our founder in 2008. it was a match made in heaven. josh started a company in 2003 as a single gelato company in texas. he had changed into a retail brand being sold regionally. my business partner said we were in the process of selling vodka in 2005, and we are looking for a new category to reimagine and disrupt. we are put in touch by josh by mutual friend. we took josh's beautiful product and put business structure around it. he created a magical business. >> may be what you did is you sampled all of what he was making and decided you have to have this in your freezer. >> we tasted it, we look at
redefining packaging. >> how did that come about? >> that was josh. he went to a gelato show in italy. he was looking for packaging ideas. he came across a gelato case that was transparent and show the ripples in the gelato. he thought i would be a wonderful package. it will be different. he came up with this beautiful package. >> what has been the reception as you build the business? >> it has been fantastic. it starts with the product. people love the taste of talenti. they love the fact that it is milk based. we have had warm reception. >> you have competition. there is a lot of competition out there.
ben & jerry's. they are not going to just let you take the market share. >> they're going to defend their turf. we have grown from having zero share to a 15 share of the business. we think with the trends, if they exist today, we'll have a 20% share of the business. >> how fragile is ice cream to make and deliver in a way they can reach the consumer with top quality? >> extremely. it comes out of the freezer at 22 degrees and goes into a spiral chamber at 100 degrees below. within 45 minutes, it is stored and transported at 20 below zero until it gets to a grocer shelves. we have a clean ingredient, we'll have a lot of preservatives. we are in a transparent package. if we have a flaw, you can see it. it is scary, but it is good.
the consumer sees it. >> do you have flavor profiles based on where people are in the country? you have to ship more sea salt caramel to los angeles? >> yes. our top-selling item is sea salt caramel. that sells well everywhere. the second, we have regional flavors. in the south, we have a southern butter pecan. in the north, people seem to prefer a belgian chocolate and vanilla. in the west, they want a mint or black raspberry. >> you were explaining the details of bringing the mint into the production facility. >> we bring in fresh mint leaves and put them into a sack, and put them into a steel canister.
we batch pasteurize. we put the mint into the canister. the milk and cream and sugar, it circulates through the canister and the flavor is extracted. you get a fresh mint flavor. >> a big multinational corporation, come be a part of our organization. >> we have people who are interested. right now we are having fun. josh and dean phillips and i are having a great time. we have put together a terrific management team who are inspiring us. we think we have other categories we would like to reimagine. >> you are introducing the bars. >> that is a new category.
there are things outside of ice cream that we are looking at. what we do is large categories that have not been addressed with a clean ingredient on the higher-end. we like to come in and disrupt what exists. >> what can i find you eating? >> double dark chocolate. >> getting everyone hungry. thank you for joining us. the chief executive of talenti gelato. thank you. let's move on from ice cream to horseracing. when california chrome runs for the triple crown at the belmont, you may notice something on the horse's nose. the flair equine nasal strips helps the horse breeds better. it helps the horse breathe better. the coinventor of the flare
strip, good to have you with us. tell us about how you came to create this. >> this was, as my partner woke up with the idea, and gave me a call and asked why no one had thought of a nasal strip for horses, and we laughed about it. over the next few weeks we decided to look at the anatomy of a horse. considering the physiology, we had seen things working with horses that led us to believe it could have a beneficial effect when horses were running at high speed. >> the horse's nose is the only way the horse breathes. this is why this is crucial. >> they needed something to protect their throat.
their soft palate doesn't allow them to breathe through their mouths. >> if that is the case, explain the relationship of this nose strip to the cartilage. >> all it does is the horse's horse's nose left some voids. there is tissue there that gets sucked in and narrows down the air path. it works on a simple principle of physics that says that it is a law of flow. if you take any diameter and open it, your resistance goes down 16 fold. it breathes easier. it will be similar to you if you
had a cold. you blow your nose, you can feel the difference. >> what challenge did you face in order to get this approved? more than 10,000 horses use this. >> we've faced our challenges over the years. i think that is what has kept us working at it. we believe in the benefit. it has gone through a long history starting in 1999 when all have another was coming up with the same situation. we faced the same issues with the regulators in new york. it was a great relief to see the situation change. >> the situation is that california chrome will be wearing the nasal patch. how did you get associated with california chrome? >> i didn't. my understanding is that one of california chrome's owners is a
fairly technical person who did research on his own and decided it would be good for the horse to use one. i haven't had first-hand contact with any of the owners. i would love to when all of this dies down get a chance to hear more the history of what leads people to get the understanding we hope have about our product. >> you divide your time between los angeles and minneapolis. you have expertise in equine veterinary health. tell us but the things we you are working on. >> i have interest in watching innovative products. not the least of which may have happened because our experiences with this product. we did face challenges over the years. it causes you to dig into the work the various authors talk about. what it takes to get people to
understand and move a new product that they do not understand into the market. you start with your innovator. you get into mainstream. it is the classic type of scenario that piqued our interest. when not to give up. my favorite thing, when i hear people say it is a dumb idea. it will never work. i want to stop and listen. it is the innovator that is looking at the world different than everyone else. you want to have a listen to what they have to say. >> are you looking for california chrome to win? >> i love california chrome to win the belmont stakes. another triple crown winner. >> thank you. the coinventor of the flair equine nasal strips. coming up, the former los angeles laker, a three-time nba champ.
>> rick fox won the three nba championships as a member of the los angeles lakers. off the court he has a busy hollywood career and a new technology as part of it. he is starring in "off-season." rick fox joins us now from los angeles along with jon erlichman. rick, let's hear from you. you have made a movie. it is being distributed in a new way. tell us how video is changing the way we get to watch your movies. >> i partner with vimeo. it gives moviemakers the chance
to distribute to the consumer. the consumers enjoy premium content. you can find it through digital media. vimeo is opening the door for content and creative people to bring that straight to the source. >> there is this saying in hollywood, hurry up and wait. you are an entrepreneurial guy. i've heard you say in the past you got tired of that process. how much has new technology changed the way your day breaks out between traditional hollywood and new hollywood? >> traditional hollywood has been shifting regardless of whether or not we want to believe it. the premium content side is going to stay the same. the consumer is addicted to great quality content storytelling. for me personally, the cycles
with which hollywood has moved in, i went the traditional route. i pitched shows and sold them. i pitched movie ideas. i've made movies. the first movie i made took a long time to get distributed. that was a frustrating process. as i explored the options for producers and film makers to get their voice out there, my own kids' viewing habits were shifting. i was watching content in blocks of time. i was wanting to watch my content on my own schedule. i was shaping my viewing patterns around my computer. as well as internet access. i thought it would be best to align myself with those partners to continue to express myself in storytelling and get that content to my fan base that might be interested in it.
in a time that they would seem fit to watch. >> you previously have been a celebrity contestant on "dancing with the stars." now you are playing a character named lex morrison. how was lex morrison different than rick fox during his years as a boston celtic and los angeles laker? >> i pull pieces of my experiences over the years as a player and put that into lex. there are seven individuals that i play with that make up the character. he does well on the court during the regular season. keeping him under wraps and in control, making it to the off-season is a challenge of the organization. the organization has a shady owner. it is kind of timely at this point in our nba basketball
conversation. he makes his way things supported by a trainer and a pr director who are assigned to keep him out of trouble and in shape so we can make a return. >> before we go, you are still keeping busy with nba coverage and nba tv. who is going to take the championship this year? there's an open job for the lakers right now. any interest in coaching? >> there are a number of open jobs. i love the lakers, obviously. they are unsure which direction they want to go in now. i think you will get a quicker answer out of new york. i am hoping, i keep saying to phil jackson he needs to coach the team. he is the holy grail of coaches. if he needed my support it would be hard to turn him down.
i would definitely welcome that. as for the finals, it is hard to watch the spurs and what they have done consistently all year, and not think them to be the best candidate to not only return but to win. >> we have to leave it there. i want to thank you very much to rick fox. my thanks to jon erlichman. coming up, he went from listen to stories to creating a company that makes the iconic symbol. we will tell you about an immigrant inspiration and success, next. ♪
replica as a business. welcome ovidiu colea. thank you for being here. tell us your story of how you became the one to be the maker of these replicas? >> i didn't believe when i was a kid, i was about 10 listening to the radio, which was illegal at that time. we would listen. one day, i heard about liberty. i didn't know exactly what the discussion was. i asked my father, what is liberty? he explained what it is. what it stood for. what is the symbol of lady liberty. my dream was set.
as time passed, i needed to see it. i tried to go. no one would allow. >> you couldn't get out of romania after 20 years of trying. you finally made it to the united states. now you're the only one making them here in the united states. why is it important for you to make them? >> it is important because it is what represents liberty. it is the symbol for which many people died to see. to come to see. it is not only that. it is important to be made in the united states, not any other country, because this is the united states symbol. >> i want to thank you.