tv Boom Bust RT January 3, 2019 8:30pm-9:00pm EST
quick move to acquire a biotech firm sell gen for a price of seventy four billion dollars the deal values stock at a premium greater then fifty percent above its closing price at the closing bell yesterday and bristol myers squibb plans to take sixty nine percent stake in the merged enterprise the new partners say they will hold the patents and profits from a combined total of at least nine drugs which produce more than one billion dollars in annual revenue on that point bristol myers c.e.o. giovanni oreo has hyped six expected new term product launches from the new company markets seem not to be buying it as bristol myers stock fell more than twelve percent on the news trading around forty five dollars per share in new york while celgene stock price increased by more than twenty seven percent but look at that they're going from around sixty six dollars to almost eighty four dollars per share up one thousand bucks on that news before backing off a little down to about eighty two dollars just moments ago and turning to tech
apple has cut their revenue projections citing reduced demand in china for their signature product the i phone china is apple's third largest market and accounts for about a quarter of the company's revenues apple c.e.o. tim cook said his company had been surprised by quote the magnitude of the economic diesel or is ation particularly in greater china referring to china taiwan and hong kong mr cook also cited rising trade tensions with the united states as a contributor to the slowdown after hours trading of apple stock was briefly halted before the announcement on wednesday evening and the stock price quickly fell more than seven percent once trading was allowed to resume the losses continued today trading at nasdaq at around session lows about one hundred forty two dollars per share and pushing apple's market valuation below that of alphabet the corporate parent of google of course but get a load of this take a look at the apple stock if we have this for the last six months trading back to october third. at two hundred thirty two dollars per share so they've gone from two
thirty two to one forty five cents october third and today there is new auto news as general motors named a long time company stalwart mark reuss as a new president replacing dan mr roosted been head of the company's global product group and in charge of the cadillac brand you may recall back in late november when g.m. announced it was g.m. c.e.o. mary barra and the stock fell well today the company also released for the fourth quarter sales which dropped more than two percent year over year g.m. stock which has been falling for years overall fell even further today on the news trading at the new york stock exchange and around thirty two dollars and thirty cents per share. and for more on the auto news of the day we are pleased to once again be joined by lauren fix the car coach lauren thanks for being with us happy new year to ya.
happy new year to you as well so let's talk about g.m. first to you what do we know about mr russo you know how did he do running catalytic. well actually you know mark really well i hadn't of course you do lauren you know everybody there are men as is a really tall man but he is a real sweetheart very smart man and very successful actually he was the one who was in line to be the c.e.o. of g.m. and they decided to put mary barra in charge and he's second in command. meanly the fact with cadillac is in your question is he took it over from johan to nessun who left they was basically let go they had a disagreement where they had moved cadillac to new york they had put out some new product but now he's bringing it back to detroit where it's all under the mothership and you're going to see some changes there we've got the cadillac x.t. for two weeks we'll see at the detroit auto show some new product coming out as well so we're really excited about that ford you need to have someone at the top who understands cars who's a real enthusiastic market loves camaro isn't corvettes that's how i know missed
because of automotive vehicles actually he knew my father so it's like very tight industry he is a true car guy and i think he's going to really help general motors that camaro but i know you're lauren what talk about g.m. strategy a little little bit in light of electric and self driving vehicles especially in north america and china is that an area that they're going to continue to focus upon. yeah i'm not the biggest fan of going electric and autonomous and i'll tell you why first off number one general motors did reach at the end of this year two hundred thousand vehicles sold they are losing the e.-v. tax credit on their vehicles which means they cut in half like tesla it was seventy five hundred dollars it goes to thirty seven fifty and then in june it'll cut in half again and then cut in half again by the end of twenty nineteen this is going to be a huge impact on their sales remember the chevy volt is a very reasonably priced vehicle but to lose that tax incentive will lose that type
of customer people that want these vehicles are buying them and with last year's sales being around seventeen point one million light vehicles cars and trucks that that's. yes than two percent for electric vehicles so why would you invest even more into electric vehicles unless there's a government incentive and so this is the thing if you want to sell vehicles in california which g.m. does and all the for their divisions you must sell a plug in electric car and they are but the fact is they're just not selling and the chevy volt hasn't been what they thought it would be as a leader in the electric field goals whether we like them or not leaf is also there in a bunch of other companies so we need to know that why would you invest in something you take a loss on every vehicle and that consumers are buying and autonomous is way off we're looking right now based on the federal government somewhere around twenty twenty five at the potential earliest so a way off from that let me ask you know i did a little headline on apple want to know you follow the news but one of the problems with with apple in
a quarter of their revenue as i said in our headline earlier is from from china is that you know the the g.d.p. per person in china is ten thousand dollars in the u.s. for example it's sixty three thousand dollars so it makes me think is there a similar problem with electric vehicles lauren where they're trying to sell these expensive more expensive vehicles into an emerging market china particularly but the greater china to taiwan in hong kong in a place where they really the consumers can afford them. that's true and that's the same that happens here you're looking at the evy tax credits that they're talking about eliminating and general motors and are really begging to have back the current administration is probably not going to let that happen so if you eliminate tax credits consumers aren't going to buy those cars and you look at the total number of people that purchased vehicles electric vehicles a quarter million dollars is what they make on average here in the u.s. at seventy eight percent of the sales and you go ok let's back that down to people that make one hundred thousand dollars or more that's about ninety percent of the
people that use the even tax credit now if you're going to take that easy tax credit and offer it to people who would normal salaries who have normal lives they might be more. likely to use it but it ends up being that tax credit goes to the wealthy people to buy their third fourth fifth sixth car so i think that we have to look at the specter if you want an expensive electric vehicle go buy a b.m.w. i eat or the audi each trying to get a new g.t. cooper b.m.w. is a ton of great products out there. but buying an average car is what you need to sell a lot of in order for electric vehicles to take any sort of grip and i will tell you this from personal experience it is hard to find a charging station that's either available or one that's in your area in the bulk of the middle of the country and that's where they need to sell these vehicles so i'm not seeing great traction electric vehicles i think there will be a mixture of solutions depending upon where you live in your lifestyle yeah you know and that's so true when you think about you know i started the question off with with china i mean you know if you're not in shanghai beijing or
a few other places they're going to have that same problem that you continued to point out and i think you're so right lauren fix the car coach it's so great to have you back with us lauren we sure we learned something every time you were with us thank you so much for being there any time thank you. and we reported yesterday on signs of a slowdown in the latest purchasing managers' index or p.m.i. surveys in china and today there's a similar news in the united states the latest p.m.i. results in the manufacturing sector reported by market showing fall to fifty three point eight in december of twenty eighteen down from fifty five point three in november while the figure remained above fifty the pm eyes boundary between expansion and contraction the latest survey indicates a significant slowdown in u.s. manufacturing orders and job numbers while some competing surveys show more favorable figures this data point is one of many recent indicators of
a slowdown in china and the u.s. creating a dramatic backdrop for the ongoing trade talks between the two global market movers. and time now for a quick break but hang here because when we return china has shot the moon and landed r.t. correspondent caleb and alex my highland edge help us look at the far side of the moon and at the business of space plus traditional television begins the new year in turmoil holland veteran media consultant host. the big picture here in r.t. america helps us to explain and later today is the day that will change donald trump's reality for the last two years of his the ministrations as the new majority in the u.s. house takes over what might that mean we'll tell you as we go to break here the numbers at the closing bell another big down day for stocks in the u.s. and around the world in asia india europe canada the only positive markets seem to be the all shares index in south africa and brazil's ibo best but we'll be back in
a flash. nobody could see coming that false confessions would be that in the spot place the fourth of march if you had any interrogations out there what you'll see is threat promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most comfortable makes them want to get out and don't take no for an answer don't accept their denials she said before we. sat on the statement that i would be home by the next day there's
a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with solving their crime. seemed wrong. just don't hold. any belief and yet to stamp out disdain become advocates and indeed for many equals betrayal. when so many find themselves worlds apart we choose to look for common ground.
so you will be end of that is your last year's does. she doesn't include the people in this i cannot tell what i mean. i mean if it was not. the. will of the local she's going to tell me can you see as you know. if you're in the home of the media. i'm with you more in their favor than within them well most of them given money or something to them while. they will start to get the.
welcome back the dark side of the moon is getting brighter today as china landed a spacecraft on what is known as the far side of the moon what does that mean and how is the business of space taking off here discussing r.t. correspondent caleb and alex mahela bitch welcome guys happy new year to both of you caleb first of all tell us about the effort by the chinese government what did they do it why did they do it. well it's the chang before it's actually named after the goddess of the moon in chinese mythology and it has carried out a soft landing on the far side of the moon the first in history and at this point it's got penetrating radar isn't spectrometers they've actually got a sealed biosphere with silk worm eggs and seeds they're going to be doing all kinds of research about the geological composition this is very very exciting and
you know bart the media is constantly trying to tell us that china is not capable of making their own scientific breakthroughs and all of their technological achievements were somehow stolen from the west i would look at what they just pulled off and i would beg to differ and let me add that you know in one nine hundred sixty nine when neil armstrong landed on the moon that was a big deal but at that point the united states had already been a fully industrialized country for over one hundred years but just a few decades ago china was dirt poor and today they're winning the space race there alleviating poverty this is got to be a glowing moment of pride for the communist party you know i'm curious caleb you know why we didn't hear about this before because it is significant i agree with you one hundred percent but is that maybe they were afraid that it might get a fail and they didn't want to publicize it what's that what do you think. well the launch was public back on december seventh but the media didn't really say much about it and now the u.s. media is kind of surprised that this is happened but you know it's on my mind the
phrase that's on my mind is helium three that's a rare isotope that is on the moon and that could be a huge game changer when it comes to fusion energy right i mean this could potentially change everything and what i don't understand is the pessimism if you turn on american television a lot of the commentary we're hearing you would almost think that somehow this is a bad thing this is a great moment for all humanity this is like being there when michelangelo painted the sistine chapel or the ancient egyptians started laying the stones for the pyramids this is a big moment for all of the human race and i wish we could all just be on the same team well i'm glad that we're making these discoveries and alex so we have covered ilan musk company space x. on the show many times but which are the biggest business players in this space space as it were today and how are they doing a little private companies are looking at this and they're definitely looking at this would happen with china we know china and india are big game players now when it comes to the new space race that's what people are calling this
a space renaissance or a new space race actually seeing countries get more and more behind pushing this technology forward and as i mentioned private companies are doing it as well so you look at something like space x. and you are most well you know what they came in out of nowhere and they push the new guys out into the game as well as push the old guys into game changing so if you look at some of the companies that are there at the top you've got companies like boeing of course boeing along with their with lockheed market mark martin they have something called the united launch alliance they've been in this game a combined for about one hundred years if you put the two companies that's a that's a lot of thought a lot of knowledge to go behind there so they have to really up the game now when you have a company like space x. coming there is no you also have sierra nevada corporation they have a vehicle if you. for space plane that was something that was being talked about before was being talked about again this company's building these things and imagining a future where they're going to be moving basically people as well as cargo from
place to place nasa has actually bought and when it comes to this company they've chosen their multi mission space utility vehicle as a cargo cargo delivery system so that's a big big step forward for this company also air bus in europe you know airbus has been around in the game for a long long time building all kinds of technologies that help the aerospace industry and now this year the big news from them was something called the guy a telescope get this billion pixel camera telescopes all about and it's been used for three d. mapping mapping of the milky way so this is a huge step forward to get all these people are playing this game and of course let's loop back to space x. when you think about a lawn muswell i usually think about jeff bezos in the same breath amazon's ban blue origin that's a company that he started up. basically playing the same game as space x. this is all about launching having vehicles to basically developing large reusable
launch vehicles that's what i wanted to say there's so many words when talking about space here and they're all pushing again thousand other companies we're looking at thousands of companies popping up around the world in the united states alone startups startups are emerging and every corner this is a blue two thousand and eighteen was a massive year for that and it's probably just going to grow as the future progress is very interesting about how many share for example to other nations the u.s. russia others that we know about. well i know there's there's talk of expanding it even beyond this and that the chang actually started out as a backup in case their previous mission had failed and now here it is succeeding after the previous one had succeeded but i think it's important to remember this this isn't just about exploration ok the moon has got your am it's got titanium it's got rare earth elements and there's potential here for the global economy and basically you know when you listen to chinese leaders talk specifically the
president you know when you hear them talk they acknowledge that we've got big problems here on planet earth right we've got global warming climate change we've got the danger of new war but the way the chinese government sees it the answer is not to look backward and not to halt scientific progress and not to just try to freeze the answer is to move forward the answer is human progress and growth and expansion and that we human beings with our creativity and our ability to think scientifically and rationally have the ability to overcome difficulties by looking into the future there's so much pessimism in the western world right now there is this call to you know just retreat from the world and kind of hide and put up barriers and walls china is seeing things in a much more long term way and looking about how we as human beings all of us from all over the planet can come together and overcome all these difficulties and really advance as a species that is so much great information and i don't mean to make light of it but we're going to. see liam three and billion pixel cameras are things we're be
looking at in the future thank you so much michaela bitch caleb off and thanks guys . thank you. and traditional television begins the new year in turmoil and you are the viewer do you make it spun into developments that are the media industry's version of a government shutdown r.t. america's big picture host and veteran media consultant holland cook joins us holon happy new year part of this was sort of inevitable wasn't well yeah back in september right here on boom bust we reported that a nielsen shareholder was pressing to have the company sold after blackstone and carlyle and k.k. aren't some of the others took it public about eight years ago fast forward to the stroke of twelve all one new year's eve when c.b.s. his contract expired and we don't know how much of this is them negotiating in public but c.b.s. says they're considering using their own data or using com score which is a nielsen rival that also measures other things and that's what's driving all this
arm wrestling the other things they need viewing data on smartphones tablets like i pad and net connected t.v. all the ways we consume video now other than the old school way so it was inevitable and there are the traditional internet delivered competition and they're going to sit this one out who doesn't need numbers netflix hit your credit card like clockwork every month amazon prime to pay once a year hulu it's a netflix type deal and the pitch is on more than eighty percent of pay t.v. subscribers in the usa come from for cable or satellite providers one thousand two hundred comcast charter and dish those four companies together lost eight hundred eighty seven thousand viewers in the last quarter alone a lot of defections from dish and a t.n.t. and have you noticed lately there are ads direct response ads on facebook and
places like that i was buying christmas presents on social media so it's a new day for the. networks and when we had the lead in to this was that they are in turmoil the traditional t.v. networks but it's really more than just a couple thing it's sort of a perfect storm i know that's a tired phrase but but why is that i'll give you a couple of more tired phrases and as a consultant i can put a dinner party to sleep by saying retransmission that's not the truth that's retransmission consent meaning that the station has to give a cable company or a satellite provider permission to carry the station so that'll cost you and now if you are the cable provider you don't want to be remiss and disappoint your viewers not having n.f.l. football or any of the other network programming thirty three tribune stations in twenty four markets are dark to six million charge of subscribers right now yesterday on the radio here in washington i heard an ad taken out by channel nine
w. usa the local c.b.s. station on by ted know the former going at who is now arm wrestling with horizon over how much and who pays home so this battle is far from over it was inevitable but all the rules have changed we always talk i always say at the beginning of the show of the impact upon you what's the bottom line impact upon viewers holland the media are scrambling to keep up with our changing preferences nobody loves their cable company except for internet access and people who used to pay one two hundred dollars a month or more are now seeing what they can pick out of the sky with the antenna all these digital side channels you've got your netflix you get your amazon prime a lot of people get that h.b.o. free preview weekend and shrug because the stuff they can get on ot t. over the top television is so much better go up and up pluto t.v. to holland cook veteran media consultant and more importantly for be the host of
the big picture right here in our to america thank you my friend happy new year well. thank you good to get the days off. and finally today is the day the ground shifts from the trunk for the trip administration republicans have controlled both the u.s. house and senate for the last two years unable and the president to get one major a problem it has to get your tax reform proposal done in legislation now other than that the list of accomplishments is fairly short and now as of a few hours ago the democrats control the house of representatives what does that mean well first there will be oversight of not only the trump administration but the president himself that has not existed and second legislation will not be able to be jammed through with any single party effort republicans or democrats what that could mean is legislation supported by both republicans and democrats could make progress infrastructure improvements would be an ideal effort in this regard
improving roads bridges roads airports it isn't partisan issue at all both republicans and democrats support that will occur the so-called deal maker in chief appears not to adept at striking a deal so far and as exemplified that by the shutdown which is that it's thirteen days that the government shutdown the mounting trash on our u.s. national mall just a few blocks from our studios here in washington is just one example but we like to be positive and in that regard there is not a more important piece of legislation that could be approved with the support from both sides of the aisle and infrastructure improvements it would fuel injector u.s. economy which has significantly stumbled in the last few months that would be a great thing to see there's always hope. and that's it for this time thanks for being with us you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seventh's on the aforementioned pluto t.v. the free t.v.'s channel one thirty two or as always you can catch us at youtube dot
com slash boom bust r.t. so long for now we'll see you next time. hello my name's peter and i've been living in bushnell for about seven years and this is a film about just some of the crazy things i've got in the time. when you're going to get. along you've got this interest then there's the what you describe because if i had such a guy. i still does not stiffness because. i was. sure
it was the predicate. the. year span difference fantastic all the episodes drill down into twenty nineteen productions tranxene will be celebrating ten years of the kaiser report. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president. or somehow i want to be rich i. have to like to be close this is like the before three in the morning can't be good but i'm interested always in the waters of our. first sip.
their bread for a single purpose. they have a supermoon. they start training very young. eight months of intensive schooling. rats. and they save lives. show small seemed wrong all right old roles just don't call. me old but yet to shape out this day comes to educate and in games from an equals betrayal. when so many find themselves worlds apart. just to look for common ground.
to commit a crime and if they have to go back to. our laws we don't have to change the laws of the search and rescue operation comes to an end following the tower block collapse in the russian city of magnitogorsk tough to the body of the final victim was recovered in a tragedy which killed thirty nine. plus looking back at last year's mainstream media coverage we see why twenty eighteen might be considered.