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tv   Bloomberg Business Week  Bloomberg  December 17, 2016 3:00pm-4:01pm EST

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carol: welcome to "bloomberg businessweek". i am carol massar. oliver: i am oliver renick. carol: ahead in this issue, why it is so difficult to keep contaminated seafood off american dinner plates. plus the long shadow that may , follow president-elect trump trade secretary from the private sector to the public sector. oliver: all that ahead on "bloomberg businessweek". ♪
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carol: we are with megan murphy. you guys take a look at energy, looking at the social cost of carbon, something the obama administration had come up with. >> this story is pegged off of looking at donald trump's. cabinet and waging an sort of what they are going to do. he has put a lot of climate change skeptics in his cabinet, and we have gone back and looked at how they pegged the social cost of carbon, which was originally set at 24,000 per metric ton and has increased over time. we are tracing the development of that. what they wanted was an economic estimate of the cost of climate change to society. how you could pegged that. what people are questioning now is what can donald trump's new administration do if they are going to advance policies that would roll back this clean power. what could they actually do?
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this number is one that many economists on both sides see as arbitrary, difficult to pay, and something he would not be able to undo, but still underpinning. for a lot of the regulation we have seen the obama administration put through. oliver: another big pic is rex tillerson for secretary of state. in the politics section, his relationship with russia. tell us about that. >> russia has dominated the news cycle since donald trump got elected because there has been so much about whether russia influenced the electoral outcome. the cia said they do expect russia was actively trying to influence the elections. any ties to russia will be under close scrutiny. rex tillerson is a fascinating choice as secretary of state. his ties to russia go back some time. he was awarded a friendship medal from vladimir putin. they have the deal to explore in the arctic. that is worth many billions of dollars if the sanctions are relaxed and they are allowed to
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deal. they have a joint partnership with rosneft. the state-owned russian oil company. i think what was going to be the key in these confirmation hearings -- and we've had republican senators, marco rubio, lindsey graham, john mccain coming out strongly and saying i'm not sure we want somebody as secretary of state who has embraced vladimir putin not only as a friend, but someone you can do friendly business dealings with. donald trump has been incredibly consistent about appointing people to his cabinet who he thinks have executive level experience. that is something that makes people in washington very uncomfortable. rex tillerson is going to be under heavy scrutiny. and russia will be the focus. carol: another member of donald trump's team, steven mnuchin. donald trump has lauded him as a great businessman.
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we actually take a look at that in we actually take a look at that in this section. >> we do take a look at that. we look at his relationship with a branch of a bank that he was involved with that was very heavy into something called reverse mortgages, which people will be familiar with. they allow you to get cash out of your home, mostly targeted towards elderly people who are ending the term of their mortgage and want to release the equity in it. it is a product long thought of to disproportionately target elderly people. it is something that has come under close scrutiny. this is a part of his financial history that i expect to get a lot of scrutiny as well. mostly because steven mnuchin, former goldman sachs partner, but this is something that targets people and away way they know and can relate to.
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when you think about your mother and father being exploited, that's going to be interesting to see how that plays out. oliver: we talked about it. >> the last job before working for the trump campaign, he spent six years running the spanking california. -- running this bank in california. essentially, the bank was a complete disaster. it collapsed and had been taken over by the government in 2008. it was called indymac, founded by the same guy who ran countrywide. countrywide had a terrible record of making loans that put it in, got it in trouble during the housing collapse. mnuchin came along in 2009 with a group of billionaire investors, rounded up this group of investors and put $1.6 billion in. oliver: some big names. >> george soros, his old employer, john paulson, who made
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a fortune shorting the housing market. here he was going long. michael dell was putting money behind this, and a bunch of old friends from goldman sachs. they got together and bought this company out of bankruptcy almost, fdic control, and turned it around, and it was a staggeringly successful investment for the investors. they made a fortune. oliver: there is a catch now. carol: he sold it, right? >> he sold it to his former colleague, john thane, at cit. so it looked like a big success, and from a financial perspective from the investors, it deftly was. it was a fantastic investment for them. oliver: as they started going to the numbers, what started to crop up here? what is at the crux of your story? >> just within a few weeks of closing the purchase and owning this bank, they started realizing that there were problems. they got subpoenas from the u.s. department of housing and urban development investigating their
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reverse mortgage business, which was just a small part of the bank that steven mnuchin had sold them. when they started looking into this, they start to realize the books were a mess. they had no idea how much money they had to set aside for various problems, and eventually they had to set aside $230 million more than they had thought, so it was kind of an unpleasant surprise. carol: the auditors found an "material weakness" at the unit doing those reverse mortgages. the reason you do this story is because president-elect donald trump has put out steven mnuchin as his nomination as treasury secretary and lauded him as a good businessman, so you're looking at one of his business ventures that was not so great and did not have such great oversight.
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>> right, to be clear, from steven mnuchin's perspective and his co-investors, it was fantastic. carol: they made money. >> he took something like $380 million out. steven mnuchin has a long career with a lot of success in it. he financed avatar, worked for 17 years that goldman sachs, where he was a partner in part of the management committee, but this is something, his last real job left a limit shone his -- blemish on his record that was only really discovered after it was sold. oliver: up next, how the trump administration threatens a crucial safety net that is depended on by many in rural america. carroll: plus, why you might want to rethink going cold turkey into retirement. we will take about a new approach that workers and companies are taking. ♪
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carol: welcome back to "bloomberg businessweek". i am carol massar. oliver: i am oliver renick. the single biggest program impacted by trade is social security disability insurance. carol: that could change under the trump administration. >> if you pay into the social security fund, you have access to a trust fund for disability insurance, which means if you become sick or injured on the job or not and you are no longer able to complete work, then you are eligible for a monthly subsidy. this program has been in place since 1956. the challenge right now is that in the last 20 years or so it has grown from 2.5% of working adults to 5.2% of working adults. that is a national number. when you look at t regions where this is most prevalent, then you get a better sense of what is going on, which is for a
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number of different reasons, which we can get into, they seem to be most relevant and areas without a lot of economic opportunities. disability should not go hand in glove with unemployment. you get sick or you down. you get injured or you don't. but what we are discovering is that a lot of people who would otherwise be eligible for this program but don't apply for it when jobs go away, do apply for it. carol: people will open up the magazine and see a map of the united states. very graphical story. kind of walk us through a little bit. you highlight certain areas of the country. >> that map shows what some economists call a disability belt. you see it in appalachia, some parts of the mississippi delta, and you see it in a spot between the borders of arkansas and missouri, northeast in arkansas and southeastern missouri, so these are rural areas, areas where the work that was there,
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it tended to be economically depressed areas. you can look at national trends, and i talked to the chief actuary for the souls of security administration, and they said there is a good case nationally that demographics is driving this growth. one thing that we have had over the last three decades -- women have entered the work force and are now eligible for disability, so they can apply for it and draw down from that fund. they say they predicted it and it happened exactly as they predicted. workers are getting older, so not just retiring workers, but the tail end of the baby boom, in its 50's, but still able to, but not able to work because the older you get, the more likely you are to have an injury and be unable to work. the social security administration says mostly demographics. the problem is you look at that map and say, i don't see demographics. i see lack of economic opportunity.
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carroll: what is interesting, what popped out at me, and as you look at this map, you look at different counties. buchanan county, virginia. dickinson county, virginia, as well. you guys highlight that the county is 95% white. that's buchanan county. in dickinson county, 98% white. what was the point here? >> i think the politics of this are pretty tough. when we look at programs, they , but when we talk about welfare, aid to needy families, it tends to be race-based. when we talk about welfare, when they describe barack obama as the welfare resident, it is a coded word for race. what is interesting about the disability program is that it is most prevalent in white areas. it's very interesting when you talk to people who live in cities where there is more economic opportunity, they tend to be not even aware the program exists.
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it is very much a rural program, and there is a fine line between saying people are applying for jobs because it no economic opportunity anymore and people are applying for jobs because health outcomes tend to be poor in these areas. because the work that was their tended to be very physical, so the point of pointing out the ethnicities of those counties is to say that when we talk about government programs, there tends to be a racial component, even if we are not bringing it out in the open. carroll: shifting gears to older workers, in the companies and industry section a new and , gradual approach to retirement. >> it's called phased retirement. it means you cure down instead of one day and announcing you are retiring, and then two months later you are completely out. you switch to a part-time reduced schedule, but you are still in the workplace getting used to the idea of retiring. carol: it is a win-win for the company and the employee, is it not?
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>> right, many companies have large numbers of baby boomers exiting all at once. they have large knowledge, practices, procedures, and they need to teach that to the younger employees, so they need to pass on what they know. oliver: why is this a story right now? does this because there is a gap in the supply of workers at some of these companies, the baby boomers generation x or z or whatever it is now? >> absolutely. you have baby boomers hitting 65 every day, and will be for the next 16-17 years. people are working more sometimes, but other people want to leave at 63, so you have companies with large number of boomers exiting at once. one is steelcase, a big furniture manufacturer in grand rapids. they have a plant that makes desks and filing cabinets.
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5000 pieces of equipment a day. they will lose one quarter of their workers over the next 3-5 years. carol: you talk about one person who has worked at this company for a long time. >> yes. he is a principle of electrician, one of their best electricians. he is hitting 65 in february. they did not want to lose him. he sat down and talked to his boss and initially wanted to go on a reduced work schedule where he would have thursday off and friday, and his boss said that is not going to go because those are our busiest days of this plant, and often the equipment is being repaired on saturday, and that is what he does. they worked it out and he is now taking off mondays. he has gone from six days a week to 30 hours a week. oliver: is it all a smooth transition in his experience? are there any kinds of speed bumps?
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>> there is adjustment on everybody's part. bosses have to get used to flexible schedules, but also the people that were doing this are used to being in charge, and they have to step down and let go. one of the people i talked to, he is only working one day a week on a very specific project. he really took care to leave his office and say i don't need my office anymore. this office goes to my successor, and i now have to sit in a cubicle carol: volkswagen goes through a huge cultural change in the wake of the emissions scandal. oliver: why the american dream mall has been a nightmare to get off the ground. ♪
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oliver: welcome to "bloomberg businessweek". i am oliver renick. carol: i am carol massar. you can also listen to us on radio. in london, and in asia on the radio plus app. volkswagen's emissions scandal leads to a reboot of the corporate culture. you chose to start your story with an anecdote that took place several years ago in a gaudy setting, paints a picture of what volkswagen used to be like. >> yes, the new management that has been put in charge to steer the company through what is effectively the deepest crisis and the company's history is trying to more than resolve the scandal or fix the cars.
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they are also trying to turn the company at the moment, rein in excessive spending compared to the other automakers, and they are trying to turn and make the company leaner and more flexible, because the auto industry is facing age or shift towards electric vehicles with features like autonomous driving, so that is a pretty long, comprehensive list of things they need to address, while at the same time trying to digest the financial hit. carol: talk about some of the crazy things going on at the company. they jumped out at me when i read it. the company culture, you talk about a garden center where employees can order flowers. there is an in-house butcher, caterers at the company.
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i guess none of us realize the excessive nature of volkswagen. >> we have been keeping pretty much everything they do and related services in-house. almost all other car manufacturers have been outsourcing services like that, but volkswagen has always resisted that, part of the role is the labor unions play. there is a vital interest to protect jobs, and that has led to some of the excessive results, where a sausage factory, a flower service, a postal service is still run from the company itself. carol: one stat, volkswagen employs 80% more people than tour yoda produce the roughly same number of vehicles, so it sounds like excessive headcount there. >> volkswagen worldwide employees about 620,000 people, 121 factories, more than any other automaker. the key reason behind this is because all sorts of different parts and components in-house, whereas other companies have outsourced the manufacturing of parts and components that are not critical to external suppliers who can produce these items at lower costs than the manufacturer in itself and that is something the company is currently trying to resolve by bundling the component operation into one big organization, but there needs to be something to gee cost down.
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carroll: you write volkswagen employs about 80% more than toyota to produce the same number of vehicles. there is a ton of excess headcount there it sounds like. >> there totally is. >> volkswagen worldwide employs about 620,000 people, 121 factories, more than any other automaker. the key reason behind this is because they still manufacture all sorts of different parts and components in-house, whereas other companies have outsourced the manufacturing of parts and components that are not critical to external suppliers who can produce these items at lower costs than the manufacturer in itself and that is something the company is currently trying to resolve by bundling the component operation into one big organization, but there needs to be something to get the cost down. carol: speaking of free booths and remodels, the troubled story of the american dream mall in
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new jersey. >> construction is underway. it has been stalled for a while. financing is still not entirely in place. it will take billions more to finish. it has taken $2 billion to get to where we are now. the opening date is autumn 2018. carol: it sounds like third time is a charm. this is the third developer trying to get this mega-retail entertainment complex in the meadowlands. this is supposed to be a huge development, but had a lot of problems. >> it started in 2004. it was called xanadu. it was meant to be shopping and entertainment. the big feature was an indoor ski slope which you can see from the turnpike, not complete, but
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you can see the frame for it. that was the main feature, then the group that was developing it ran into financial trouble and walked away from the financial project. another developer came in and ran into the recession and had to walk away from the project, and then there it sat. ski slope, a hole of a structure in the meadowlands with hundreds of millions of cars driving by every year, but no one could finance it. then finally governor chris christie, who probably if you live in new jersey, you know he once called it the ugliest building in new jersey, maybe america, but when he came into office, he looked at it in and said, you know what, these developers have party put $2 billion into this. if we can get it going, we can create a lot of jobs.
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there are promises of take economic benefits to the region. it is a good location, right outside new york city, convenient, and there is a train link that goes to the stadium. not direct, but it will go to the stadium. it goes there on game days. it seemed like a good idea to try and revive it, so they brought in a third developer, triple five based in canada owned by a family who also runs a little shopping center you might have heard of, mall of america and the west edmonton mall. they have been working on this project since 2011. they have greatly expanded what was already huge to include an amusement park, a water park, and they are redoing the inside and adding all kinds of things. carol: up next, the challenge of preventing tainted seafood from washing up an american
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supermarkets. oliver: that is next on "bloomberg businessweek". ♪
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you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. oliver: welcome to "bloomberg businessweek." i'm oliver renick. carol: and i'm carol massar. oliver: if you ever bought our work on a cruise ship, prepare to get sees it -- prepare to get seasick. carol: and tainted seafood. what's behind it and what is being done about it? ♪ oliver: another must-read. the cover story titled "bad scrap." -- bad shrimp. it caught me by surprise.
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what was the first thing that pops out at you? >> the first thing that pop down is the context we are talking about is china and where we are going in the global economy. just the chain it goes through and the problems and what is getting into the food supply. it tells a tale of the regulatory environment that leaves a lot to be desired. carol: here we have the u.s. regulators putting sanctions on chinese shrimp and they found ways to get around it. >> i don't know if you would call them loopholes, but the way they have evaded scrutiny.
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the very fact of wanting to get stuff done and having a robust environment. the contrary effect is that it seeks in and you don't know what is happening of where these things are living and breathing. and the effect of having a superbug possibility. it is a concern. it beats like a movie when you read this story -- it kind of reads like similarly -- a kind of reads like a movie. desire for a higher-margin, higher profit. and carelessness in terms of parts of the world that have very different standards. oliver: i am glad you brought it to this topic of globalization.
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let's talk about the science about what is happening. basically, there is this ecosystem that is getting polluted and not in the way we think about it. working its way through the system, building up in the food we eat. >> that is the thing. it is a story about how something is designed to be good and can manifest itself in ways we don't have a structure in place to deal with it. ed morse, it develops -- it norphs and develops. we uncovered this tale of how this is filtering its way in the u.s. and other countries and a way that people did not think it could happen. but the imagery of this story, pigs next to discarded medicine and discarded antibiotics, and people shoveling excrement from animals into the same part of that ecosystem where shrimp and other wildlife is living and breathing.
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oliver: when i was reading it, i was picturing one of these diagrams from middle school. [laughter] the arrow is going from here tobacco -- the ever is going from here to there. >> when you start to introduce antibiotics and of the equation. we are starting to be much more sensitive about the increase use of antibiotics and how it is creating superbugs. >> when you talk about globalization and we are seeing it being played out in the western world -- regulators move at different speeds and economies are moving a very difference beads and then we'll
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take the advantage or they can in terms of exploiting regulatory arbitrage. we've introduced -- the end product of the economy, that is where the problems are emerging. it is really accelerating. over the next decade, is there a need for some global oversight where you have unpredictable effects of what is designed to be a good thing. carol: we talked to the creative director about the cover for this story. >> this story is kind of gross.
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we wanted to run with that theme. it is obviously shrimp and antibiotics. so we picked a very simple image of two shrimp getting pierced with a needle. carol: that kind of creeps me out. i love the letter that you did. it takes a back to science class. you have some of the lettering. >> that was exactly what we were going for. make this look like little microbes and he did a fantastic job. oliver: you went through a lot of effort to take pictures of the shrimp. >> so, with pictures like this, it was difficult to get them to stand up on the needle. carol:, the wild, wild west of like streaming.
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and the company leading the way in the latest broadcasting trend. oliver: one developer trying to help the little guy getting a concert ticket without having to pay a scalper. ♪
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♪ oliver: welcome back to "bloomberg businessweek." i'm oliver renick. carol: and i'm carol massar. oliver: facebook does it and so does twitter. carol: live streaming. the trend is just starting to take off. oliver: we spoke to a reporter about the pioneering. >> 2016 has been a big year that all of the platforms have been pushing live video capacity. his book has been into it. twitter, youtube live, amazon with twitch. trying to get all of their users to do livestream. oliver: that is a big part of it. the corporate element.
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there people who can do their own thing. seems like livestream will be going towards a corporate client. >> facing well-positioned for the current moment. they sell a bunch of services, hardware, software to anybody who wants to do a livestream and make it look semi professional without hiring full production team. 2016 has been a huge year for this company. carol: run down some of the companies they are working with. >> at this point, they are up to 10,000 paying clients. i was surprised when i went to meet in with them. everything you can imagine --
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churches, make a churches --mega churches, a lot of them are live streaming. radio stations like to livestream with people doing radio. there are big brands. exxon mobil just hire them to do live streaming. tech companies who want to live stream product launches. tesla, spacex, second-tier sports teams and leagues, professional bull riders is one of their clients. just nonprofits, universities who want to get their professors live streaming. anyone doing a conference these days foster have a livestream on the internet. the world economic forum is using them. oliver: why does the room for them to take this part of the industry when there has been skype around for a long time that pioneered the video chatting and back and forth? how are they able to take this part of the market? >> what they have going for them is you have these huge platforms
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like facebook, youtube that are given away basic services. you can live stream on facebook for free, skype is free. there are these places were organizations can go to do a livestream, but i think where this company livestream is coming from is you can use those services for free, but if something goes wrong, there will not be anyone on facebook to answer your questions. if you want to monetize it, good luck how to do it on your own. what they say is for a little bit of money, we will hold your hand and make it look professional and michigan is reliable. carol: and app call song kick can improve the life see experience. >> the ceo, matt jones is 30 years old from england.
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essentially, he was able to start selling tickets directly to artists over in england. he promoted adel when she was unknown. he had these relationships and started selling tickets for them. because he had a crowd source, they could sell 20% of their tickets. they had a lot more control. he made 10%. what do you do after you conquered england? you come to the u.s.. carol: then you meet ticketmaster and live nation. they are a beast and control a lot of the ticket sales. >> they do. even before the merger with live nation, ticketmaster --. are estimated they had contracts with 80% of the biggest event venues in the u.s. in england, concert halls are higher. it is not hard for the artist to get there toe in there. in the u.s., ticketmaster negotiates exclusive deals with all of these places.
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carol: with the venues are artists? >> they conduct deals with the concert halls and that artists sell 80% of their tickets to their fan club members, but they their fan club members, but they keep a tight lock on that. oliver: who exactly are they disrupted and who is on their side? is it about trying to break agreements that these venues have? getting artist to come on board? >> in england, when you have multiple ticket sellers, you can disrupt that. the artist can use the cloud and kind of demand a certain percentage of ticket sales. ultimately, that is the strategy here. the thing about live nation and ticketmaster is that they make their money from surcharges. they kick a lot of that money back to venues.
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that is where the prophetess. they don't make money -- that is where the profit is. that is an important business for them. if song kick wants to disrupt things, they have to break ticketmaster's hold and forced ticketmaster to give them more tickets. ticketmaster sees all this and says, we are not giving you anything. you are turning around and selling tickets to the general public. carol: up next, how the world's biggest art galleries make their money on cruise ship's. oliver: and products to keep you flying in style throughout the holiday season. ♪
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carol: welcome back to "bloomberg businessweek." i'm carol massar. oliver: and i am oliver renick. you can catch us on the radio and on 11 30 in boston, 91 in washington and a.m. 92.60 in london. in the features section, one art gallery has carved out a successful business selling its art on cruise ships. carol: but the passengers getting a good deal? we talk to a reporter. >> on all the major crews lines, there is one company called park west gallery space outside of detroit which says it is the biggest art gallery in the world, and it does it sells above cruise ships. over 100 cruise ships aroma world, thousands of options every year and has a niche in our market and the crew's business.
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i was intrigued to see how that worked, especially sense there had been a long history of complaints about these options. carol: you have to tell us what this process is like. tell us what you saw and how they conducted it. >> the complaints had been they were promising people investment and returns on her artwork. they were saying they were getting great bargains and that people were coming ashore and saying they could not sell it for as much as they bought it. i went on as a passenger to attend auctions and see what would happen with these controversies in mind. what was interesting, event after event, they passed around the champagne and would butter up everyone and get a good spirits going, and everyone of these auctions, they were same every tell value is $4000, but we will start bidding at $3000.
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and i wanted to know where people getting a good deal? after the series of lawsuits, had park west gallery's changed its ways? my thought was it was a mixed bag. oliver: give us an idea of what type of pieces that people are buying. are they can recognize their names? what kind of stuff are they selling? >> i mean, it is a full range of stuff. you can buy a piece of art for $50. you can buy something for $15,000. the bulk of it is artist like peter mac and thomas kincaid, who is very popular in the u.s., and people who you may not have heard of, but part of this stable of artists of park west. i felt something that i liked.
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these are not paintings. these are prints worth tens of thousands in some cases. the bulk of what i saw from selling was the thousand dollar -- was in the thousand dollar range. some people you heard of, some people you have not. the interesting thing is that they said that they could not predict the future. on the other hand, there was a question did people know what they were buying? this is where i was unsure of at first. walking around the gallery, they had kincaid with splotches of paint on them. they were actually a mix, not necessarily one-off painting, but something mass-produced and touched up to be one-of-a-kind.
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carol: what is interesting is maybe what you see on the cruise ship as a consumer or someone who ends up betting on a piece of work, you don't necessarily get that piece of work you see on the ship? >> this is was on the passengers were confused about. i bid on that day up there, saw it, bought it, pick out the frame and we will send you another version from our warehouse. it was there in the fine print. there was one guy and a new york yankees t-shirt that thought he bought a painting on canvas, but ended up buying something on an inkjet printer.
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they do hundreds of thousands of the same picture and call it a limited edition series. it was not always clear to the passengers. oliver: staying on travel, let's talk about travel gadgets. carol: sam tested for products that may help with your flying over the holiday season. sam: because her with the product i was most impressed by was the bose headphones. they have been making noise reducing headphones for some time. these are new and has some interesting new features. they are wireless and noise reducing. they are earbuds, which i think is a preferable -- >> how do you block out noise using a bud? sam: the bose headphones were quiet controlled and they use opposite phase soundwaves to counsel out background noise. that thrumming of an airplane. it generates the opposite frequency canceling out.
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carol: i love my bose headphones. did you like them? sam: i they worked very well. they are a lot smaller. carol: you have to tell me about the scooter luggage, which looks fun to see you on. sam: i cannot say it was necessarily fun to use. this company micro makes scooters and decided, hey, what if the attached a carry-on bag, a traditional, hard side carry on back to a scooter? the telescoping handle can come up and down like a traditional rolling cart and you could write this thing around the airport. as you know, sometimes the distance between the gates to baggage claim or exits can be almost a mile. i'm thinking about terminal one were you just keep going on.
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carol: they look small. sam: it is a small back, it is a heavy bag -- it is a small bag, it is a heavy bag. you do get some really funny looks from people and the airport. carol: you have to talk about the carry-on cocktail kit. ellen: a small company designed and created these little sardine can-sized kids with all of the mixers you would need to create a proper cocktail on an airplane. the only thing you need to get from the cart is the liquor. but this is all tsa approved, very small amounts. if you want to make an old-fashioned or a bloody mary, you just get the appropriate liquor, the vodka, the scotch from the flight attendant, and you open up this kit and it has everything you need. in the case of the bloody mary mix, it comes with tiny little pickles. carol: did you sample it?
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sam: i sure did, are you kidding me? i'm a journalist. that is my job. carol: to me about the deep rest mask. sam: some people think about the mask, what could there be -- the people think about sleep masks. you want padding around the perimeter of your eye. we're getting very technical year, but it causes the rest of the eye mass to live above your -- to lie above your eye, which means you can blink and you don't fill the pressure. if you are wearing eye makeup that both of you might be doing depending on the shoot, it does not miss anything like that up. a completely blocks out all light. very affordable and recoverable.
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carol: "bloomberg businessweek" is available on newsstands now. oliver: did you have a favorite? carol: i like the cover story on the bad shrimp. it takes down into the overuse of antibiotics getting into the seafood. we don't want to see that because it is creating a superbug. it takes down into the details and tracks the progress of shrimp coming in from china into the united states. oliver: very interesting. carol: favorite story? oliver: probably the american treatment new jersey because as new yorkers, some of us have driven past it and it is not going anywhere. it is called the american dream. it was great investigative reporting. carol: good story.
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oliver: more bloomberg television starts right now. ♪
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