tv Lunch Money Bloomberg December 12, 2013 9:00pm-9:31pm EST
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dollars. night or on the senate floor. this is round two of the fight we first told you about on november 21. filibusters to unite them a fair vote -- dean id. a fair vote. >> they should know better. let's remember how we got here. let's remember it was senate democrats who pioneered the practice of filibustering nominees. of the filibusters have occurred in the obama administration. four and a half years, 50%.
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is there anything fair about that? >> we are not interested in having a gun to our head in the longer. some of us know sometimes the .hoe is on the other foot >> the shoe is on the other foot. been blocking a number of traditional nominees. need a simpley majority. they just need to move things a little faster. they are forcing reid to use the allotted time for nominees.
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block nominees, but they are forcing reid to use every bit of debate time as required. every minute, republicans mean taking every minute. midday friday there were at least nine on the list. afternoon yesterday and has gone on and on and on. >> we are doing everything we to finish. >> will there be some people who benefit as truth tellers? of this. bottom >> the war on the senate floor goes on, even as congress gets ready to go on winter break tomorrow.
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harry reid says, do what you want. >> we are going to finish this week. we have to get this done. christmas is approaching. this doesn't end at christmas time. we have work to do. >> republican action is slowing things down. trying to getis young people to sign up for health care coverage under the affordable care act. all those glitches have set things back again. won theer adam levine designation from people magazine last month. he is among the americans urging young americans to sign up for health care on social media. it is not just him. fran drescher, they are all lending their mugs to the cause.
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>> president barack, president barack ♪ ♪ if you need that new health care, sign up covets hot -- because it's hot ♪ ♪ on theing young people books for obama care is key. just ask the doctor. a doctor was also senate majority leader. he stopped by to talk to us yesterday. >> obamacare does not address costs. they are going to skyrocket. the problem is a did two things. they overpromised. up so two, it is set young people simply aren't signing up.
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>> that's not how insurance works. enough is you need healthy people in the pool. do you think they can get it? >> the way the bill was designed was the plan was very expensive for them. a 30-year-old is paying very little but getting a good comprehensive health insurance plan can no longer get that. they have to buy an expensive plan. very sick people can only pay three times what a young person to pay young person has a huge amount because they are limited by this ratio. >> a republican says obamacare gets it 70% right. you can watch the full interview on bloomberg.com/tv. two at the fed. why stanley fischer is a big
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>> in motors, peugeot announced annual sales will be four percent lower and two years later than targeted. gm says it will sell its entire remaining stake in the company worth about $350 million. this says peugeot looking elsewhere for new alliances. bad news for the french but good news in detroit. the incoming gm ceo is the first woman to run a major automaker ever. she is also on the cover of this week's" bloomberg businessweek." she is up for the challenge. listen to what bob martin delhi had to say. -- bob nardelli had to say. >> she's got good focus but the challenge will be the competition, to enhance the platform and differentiate the blame -- brands. she will have to separate herself a little bit and bring that outside in perspective to be able to change what she had
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put in place. that is the toughest thing a ceo has to do. >> hard to forget five years ago gm and chrysler had an $80 billion bailout and six months ago, the last lights went out on the last plant in detroit. >> we are absolutely and, not in the nicest. of detroit. i just want to take a picture every day on the way to work and create a coffee-table book at the end of the year and reflect on the things i see. it was the only time in my 20 year career that i got up in the morning and there was this incredible sense of uncertainty. i did not know if i was going to have a job the next day. >> we were down to one shift, down from three. we knew things were getting pretty bad. i was fortunate enough not to be -- only to be laid off a couple of weeks were others relate off her months.
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it was pretty devastating. >> we did absolutely what it took to survive. we cut a lot of different areas. one thing you may not think about is somebody had to cut the grass. those of us that stayed behind had to do something. 283 acres here in this facility and there was some areas where it was above my knee. >> we were out there actually cutting the lawn. that was interesting. i don't do yard work. my union brothers and sisters were with me as well as management. we worked as a team. >> no one should be lower tiered.
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i learned to manage what we earned and complemented with i knew -- with what i do in the outside. i rarely see my family and when i do it's kind of in passing. it's up -- it's not just the work we do >>, it's the sacrifices made. >> i got the e-mail right after christmas. thank you, jesus. there not that many jobs out here paying what chrysler pays. eight gets my kids to school. it pays the bills. >> we are manufacturing the jeep grand cherokee.
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we are doing it right here in the city of detroit with detroit employees. there is a lot stacked against the plans. this is not the prime location to be manufacturing. but we are doing it and we have a product that everybody wants. >> going through almost than near-death experience, there's a great sense of pride. >> me being there for 20 years is just home. >> i would love to see how far we can go. >> never count us out. we always want to come back. >> renewed commitment to design has helped revive the big three and here are five cars that are adding to the detroit bottom line. >> you can read this weeks exclusive story on the new general of gm at the bloomberg businessweekapp. aramark and hilton take service
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>> the nominations for the 2014 golden lobes have been announced. among the contenders- congratulations to all the nominees. between netflix, red box, and movies on demand, the theater industry has competition. one chain is fighting back. look at those plush, red recliners. we go inside amc theaters.
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>> for almost as long as movie theaters have been around, they have been threatened. first it was tv than the vcr but each time, movie theater strike back with things like imax3d and now this -- big old seats. amc is renovating its status as ripping out the older, smaller seats reducing capacity by 54%. the attendance is up 84%. you have power reclining. i can put my drink here and you guide your armrest. it's cozy. why are they doing this? to make more money and is working. if you go back to 1995, the movie theater industry hadtotal. revenuesof $5.3 billion today,
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those numbers have doubled. there is an irony. in order to compete with your home set up, in order to get you out of your house and into a theater, amc has to make its theaters more like your home. >> amc is also offering shares in the ipo to members of its loyalty club. julie hyman says that's pretty rare. >> this is not something that happens very often if ever. what they are getting access to his to buying and selling $100- $2500 worth of shares in the initial public offering. amc is setting aside 1.25%
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there are 2.5 million people in this amc loyalty club. just because you go to the movies, how do we know you're an equity investor? you're not but you have the opportunity. they are not telling you how to invest but they say you can do it if you want. it is a well-known consumer brand and you can buy into it. you get your $12 per year to get him member -- to get to be a member of the movie club. >> sounds like a good deal and the industry will need more good deals trying to lure customers. here is paul sweeney. >> theater business as a starkly been a rocky business, a hit driven business. when you own a movie theater, you're dependent on hollywood. it tends to be quite a volatile business.
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the movie business has hung in there in terms of attendance over the last 5-10 years. theater operators recognize that movie attendance is somewhat flat. they come work with ticket prices. 3-d has been a big plus and maybe they have charged a 30% premium. some theaters are trying to bundle in a dvd or a download or some special seating or food arrangement designed to try to charge rein in pricing for that very small piece of that theatrical moviegoing audience that will pay for it. on the margin, it's a slight positive but it has not been a big mover for the industry. >> these guys have $2.2 billion in debt. >> the theater operators historically have had quite a bit of debt. these are good cash flow businesses. generally speaking, they have been able to support debt loads of 3x ibita. there is a risk associated with these names. a lot of their success is really tied to the success of hollywood.
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if hollywood has a bad summer season or a bad full year of releases and attendance is down, that hits the theater operators directly. they are dependent upon the continued success of the product out of hollywood. >> one day, you might be able to pay for your movie tickets with bit coin. the former governor of the bank of israel, stanley fischer at the fed? he might be the new vice. is he up for the job? ? >> he used silicon valley savvy
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