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tv   Bloomberg Markets  Bloomberg  May 13, 2015 1:00pm-2:01pm EDT

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people were taken air hospitals. we will have the latest on what caused the accident. betty: americans were reluctant to open their wallets and splurge in april. economists say disappointment may indicate the economy is getting off to a weak start in the second quarter. mark: can the middle class be saved? a big challenge for our next president, the topic of today's roundtable debate. betty: good afternoon, i am betty liu with mark crumpton. let's take a look at the markets. let's check on equities. very little movement going on in stocks, interestingly enough,
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after worse than expected retail sales numbers. the nasdaq is holding on to some of its gains. the dow is now in the red slightly. also take a look at how gold and other commodities traded today or are trading today. you can see the nymex crude oil is up about 1% after inventories came out this morning. a showing of surprise, a fall in that bit up keeping in the oil prices. games,reasury arising european losses. than $400 billion from global fixed income markets in about three weeks. 10 year yield, there you see the change, just fractionally up. 2.6%. quick check of currencies on this wednesday afternoon, you can see on the boards, your dollar at 113.
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the dollar versus japanese yen. that is a look at some of the other top stories. let's look at some of the general news stories we are following on this wednesday. betty: in philadelphia, potential breakthrough for investigators trying to figure out why an amtrak train derailed and crashed last night. at least seven people died and more than 200 others were injured. here is the philadelphia mayor. >> whatever is comparable as we know it, often referred to as a black box, that has been recovered. it is now in the amtrak operation center in delaware for analysis. we have no information from that particular device at all because it is currently being analyzed at the experts. betty: amtrak is suspended service between philadelphia and new york. part of the busiest rail corridor in the u.s.. the mayor will have another briefing at 2:15 pm eastern time and we will bring you any
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headlines from that. quartere second started on a weak note. showing no gains in retail sales. biggest in the year in march. seven of the 13 major categories showed increases, but there were declines among items such as cars, furniture, and electronics. betty: the price of oil is moving higher. the government reported stockpiles surprisingly shrank last week. it is the second week in a row stockpiles got smaller. the bti crude is trading at about $61 a barrel. it is up 31% since hitting a six your low in march. mark: for the first time since founding try and management, nelson peltz lost an activist campaign. shareholders at dupont rejected his attempt to get on the chemical maker's board. peltz proposed splitting dupont in two to create more shareholder value. in an interview with bloomberg tv, dupont ceo was not claiming victory. >> to me, it was never about
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winning or losing. it was about the future of the company and how do you create the greatest shareholder value going forward. i think the shareholders have been very pleased with the changes we have made as a company and the changes we are on the verge of making. says it has created substantial site for dupont shareholders the last two years. shares of dupont have been down more than 6% today. betty: a big day for danaher, announced dupont may not be spending and too, but they are. paller has agreed to buy corporation. they will include assigned to technology company that will keep the danaher name. the other will be in industrial company. danaher's water filters, dental equipment, and medical testing devices. mark: delta airline investors will cash in on rising demand a lower fuel prices. tilde has approved a $5 billion stock i back land for more than twice as much as last year's
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program -- delta has approved a $5 billion stock i back plan for more than twice as much as last year's program. and democratican senate leaders working on a plan to advance president obama stringent legislation -- trade legislation. originally by senate democrats deny republicans the votes needed to advance legislation the president needs to expedite approval of trade agreements. democrats insisted the senate consider three other measures alongside the trade bill. president obama met with the saudi crown prince a day before his summit at cap david. one of those who will not be at the summit is saudi king salman. the white house insists his absence is not a snub. the president said he welcomes the chance to talk with the crown prince. >> this gives us an opportunity to discuss some of the lateral issues, including the crisis in yemen and how we can build on
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the cease-fire that has been a processd to restore for inclusive of a legitimate government inside of yemen. and it will also give us a chance to discuss some of the broader issues that will be the topic of the summit tomorrow. betty: the saudi's are said to be skeptical over the new care program. a warning from iran to the saudi's as a cease-fire begins in yemen. a top military commander says attempts to prevent aid from reaching the war-torn nation could start "an uncontrollable localaccording to a television station. the saudi led coalition against yemen shiite your rules does rebels imposed a naval blockade on the country's port. the navy is as wording a ship carrying tons of aid to yemen. it is expected to arrive a 20th.
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the city of chicago's credit rating has been cut and that may cost it more than $2 billion. moody's lowered chicago's credit rating to junk that allowed banks to demand the debt be repaid early. there's also triggering or triggers fees for any swap contracts. chicago mayor rahm emanuel plans to refinance $990 of debt to reduce those penalties. mark: facebook is pushing to improve working conditions for the people who clean its offices and feed the staff. the social network announced a program that would increase wages were contract workers to at least $15 an hour and gives them at least 15 days of paid vacation and pay a bonus if they don't get paid parental leave. facebook says it expects the new requirements to increase its costs. the company's moehring moves by other tech giants, hoping to address concerns over income disparities in the region. though clinton knows a lot can happen between now and november 2016, but he is ready to move
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back into the white house if things break right for mrs. clinton. he talked about it last night with david letterman. if she wins the nomination, the chest to win the election. if she wins the election, the chances are 100% i will move back in. if i am asked. [applause] >> you may not be invited back. betty: the memories. be a goodhinks would thing for america of his wife when. those are your top stories on this wednesday afternoon. coming up in the next half-hour, the latest numbers on retail sales show americans were reluctant to splurge in april. we will talk about how to jumpstart consumer spending with former chairman and ceo of bloomingdale's. betty: such release its latest earnings after the closing bell today, a preview and save the, his performance can justify its high valuation. mark: does the middle class in
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the u.s. you to be saved from a cycle of declining wages and unemployment or are they better off than we think? it is the topic of today's roundtable debate. betty: as you just mentioned, consumers are keeping a close eye on their spending in april. retail sales unchanged compared to a month ago. analysts surveyed were estimating a gain of 2/10 of a percent. mark: macy's latest earnings missed estimate, the largest department chance of bad weather in the northeast and delays of west coast ports sales. joining us now is michael gould, former chairman and ceo of bloomingdale's, which is grilli owned by macy's. gould mr., thank you for your time. we were expecting a rebound in spring. what happened? >> i think the weather was more difficult in the first quarter. the port? i'm not so sure it affected anything but more than a fraction of a point here or there. i think the real issue is, if you look at a macy's, yet a look
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at the quarter. april was with an earlier reach, a softer month. march was stronger. yet the look at the quarter. if you look at the quarter, it was disappointing for retailers. for a number of retailers, it was also exciting. if you look at apple, it was spectacular. if you look a disney, and my mind is a retailer because it is in the entertainment business, it was a spectacular quarter. costco, very good quarter. i think the ones who had good quarters are the ones that have created an experience in the store. i have said on this network before that i passionately believe the retailers that have a product that is exciting in the store will be the winners. just more product is just more product. betty: everyone seems to compare themselves to h&m. they move their product really quickly. i know the port issue was in issue, but they move their product quickly so they're able to really pinpoint consumers
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here now. is that something other retailers have a hard time catching up with? >> i think so. they are unique in that way. i think the flow of merchandise is really important. i think that is one of the reasons that one defines as concessions in stores, were the resources have their own concessions, the stores don't run it, i think that is a major reason that the gucci and the pradas will do better running their own businesses in the store than the store themselves because of what you just said. that is important element. mark: that when people go in the stores, is it not so much they want to buy something, you have to make it an experience? >> it is an experience. you go to disney, it is an experience. no one is talking about the price. there was a wonderful article in "the wall street journal" at the end of december about mcdonald's. people talking about with the challenges were going to be. one of the people who is in the head of the advertising, the
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creative agency for number of years past. it wasn't about food and price. mcdonald's only dealt with food and price, they would never win. it was how are they going to get the experience back and mcdonald's that was there 15 years ago? and that is the same thing with department stores. where is the experience? we know with the experiences walking into apple. what is that experience? when i goet a high into apple because the experience is so good. is that the reason why lower gas prices, which we thought was going to fuel consumer spending, is that why it just hasn't done that much to retailers? >> it depends. betty: because it is not about price. >> that's true. but for lower gas prices, that one third is gone to pay off debt, one third is savings, and one third is spinning. what does that mean? you just had a statement about delta. people are flying more.
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people are going to more resorts, the entertainment business is up. betty: they are eating out. >> the disney numbers were skyrocketing. people are spending, but the fact of the matter is, as beautiful as that addresses the mohammed and more white dresses do you need? common and more neckties -- how men more neckties? shoes is unlimited, we know that. mark: department store sales saw their biggest top in purchases since 2014 when we had the big snow blanketing much of the united states. is that going to be a plus for consumers going forward in the form of deeper cuts, deeper sales? >> i'm not sure about that. mark: they need to move these products out. >> i'm not familiar with what the numbers are inside the stores on the inventory. my guess is, everyone plays it close to the vest for the department stores. i don't think anyone has overbought that much. if you miss a couple of percentage points, that is not when a change going forward on the discount, much.
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currentlyael gould, joining us in the studio. sir, thank you for your time. betty: and he has good taste. he likes my dress. still ahead, shake shack webs up its latest earnings report. we'll live burger chain show the change investors are looking for? ♪
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betty: welcome back to "bloomberg market day." mark: let's get a market check
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with julie hyman standing by with details. julie: let's start with what is going on with oil prices. we're seeing oil on the rise today and it is held onto gains, even though it sort of gave up some of the gains during the course of the session. it is still trading at its highest this year. we did get an inventory report earlier today that showed a bigger than estimated drawdown. so some concerns about the supply we've seen with oil is in using, at least to some extent, and that is helping those oil prices. in terms of what we're seeing for the major averages right now, we've had not much change today. if you look within the s&p 500, you can see why in terms of the sectors that are on the move. you have a push and pull effect. technology stocks are on the rise, the utilities have been on the decline. those are the sort of opposite ends of the scale, if you will, that are balancing the s&p 500. change. not much
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same sort of situation in the dow. look at the biggest winner and loser on an individual basis. microsoft on the rise. more positive than negative catalyst. and weak sentiment on personal computers is a repriced into the stock. we have been talking a lot about dupont and why that is declining after it won a victory and the proxy battle against nelson peltz. investors, a kerley, not super happy about that victory. betty: thank you. investors not very happy about that. julie hyman, senior markets correspondent. another stock, shake shack reporting after earnings after the bell or reporting earnings after the bell. the burger chain is under pressure to show investors it is worth its lofty valuation, hovering north of 700. bloomberg west editor at large cory johnson is here with us now. mark: burger issue not a. betty: people were saying when
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this ipo to, is it worth this valuation? >> business is growing dramatically euro per year, which is great, but this is like , theyeat restaurant stock grow because they add stores. same-store sales is also pretty good. their addition of stores is the way this business is going to grow and growth investors, certain sector of them, love restaurant stocks and a was half. mark: so how do they get the margins outside of new york city? how do they replicate that? cory: that is the question. what can this be in the world of burgers, the world of where you donald's is at the center and all of these other businesses are rounded. mcdonald's is struggling. mcdonald's, you know the business quite well, betty, you curls changing what
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they do, going toward fresh ingredients, going toward grass fed burgers because they recognize -- they could not get -- mcdonald's could not get that much grass and beef right now. shake shack doing the same thing. the privately held company king of all kings when it comes to burgers for west coast people out burger.nd betty: you all work on a regional scale. atyou are to talk to anybody mcdonald's, they will say, yeah, we get it, it is great. shake shack is good burgers. the try doing it on a global level. cory: mcdonald's -- what is interesting, consumer taste has gone beyond what mcdonald's supply chain is in a lot of people in america don't want to you the way mcdonald's has grown the supply chain to fulfill food in certain ways with potatoes grown with certain chemicals, beef grown with certain quality standards. mark: cory johnson --
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cory: we did not talk about the secret menu. one more thing. do you know about the secret menu? you go to in and out and there are things not on the menu. you can ask for it. mark: it's not a secret. cory: there is animal style, well-done fries, ask for the flying dutchman. i go protein cap and style. wrapped in lettuce. you are making me hungry. mark: cory johnson, thanks. ♪
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welcome back. american, delta, and
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united continental holdings speaking about their claims that the 2 billion housing government subsidies have given an unfair competitive advantage to three persian gulf carriers. in the last hour, the ceo fended off those claims. >> i think they're just trying allegationsnd the that there are making against us for their failure to provide to the passengers the high standards of in-flight product from the high standards of cap and products, the high standards of in-flight service and attention that we provide to the well-deserved american public that fly on qatar airways. mark: matt miller is here with more on this war of words. how is the fight playing out? matt: it is pretty juicy. first, the u.s. carriers said the gulf carriers got $42 billion in subsidies than the gulf carriers came back to lobby basically and said, they had 155
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billion dollars in subsidies over the last 100 years. that includes 9/11 or does it include the subsidies u.s. carriers got. and richard anderson said the you know what? 9/11, it's ironic you brought that up because you are an arab airline and they were arab terrorists will stop putting them in linking them in the same statement, really made them angry. betty: i would understand that. mark: what about the windfall from the fuel savings? are: the u.s. carriers getting a much better return on investment than the gulf carriers. delta is using some of that money to give it back to shareholders. $5 billion back in buybacks, also raising the dividend and investing -- i spoke with the president and bashed in this morning and he said they are investing some of the $8 billion in free cash flow they make every year into new planes, new
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services, and new routes. they are reinvesting it. of course, the gulf carriers have this giant flow of cash coming from the gulf states they're putting into new planes all the time. betty: thank you so much, matt and i'm heading off. i'll leave it in mark's hands. mark: i know or you're going, shake shack. coming up, the squeeze on the middle class of the united states. just how bad is it? we will have a debate when we return. ♪
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[beeping] ooo come on everybody, i think this is my grandson. [lip syncing] ♪little girl you look so lonesome oh my goodness. ♪i see you are feeling blue ♪come on over to my place
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♪hey girl ♪we're having a party happy birthday, grandma! ♪we'll be swinging ♪dancing and singing ♪baby come on over tonight mark: welcome back. let's go straight to your top
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headlines at this hour. the u.s. justice department may charges against the u.s. prosecutors ready to rip up the agreement not to prosecute the swiss bank for raising benchmark interest rates according to a person familiar with the matter. a justice official warned those can be revoked if misconduct continues. bad weather and labor problems reporter --'s reported first quarter profits that missed estimates. down the west coast slow cap products out of macy's stores. three astronauts will be in orbit a little longer than bargained for. returnre supposed to .his week they will not come back until early this month. an unofficial poll chooses harriet tubman's image to be
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appearing on a $25 bill. -- a $20 bill. whether 100,000 people would like the abolitionist to replace andrew jackson. eleanor roosevelt and rosa parks -- those are your top stories at this hour. coming up on the bloomberg is it -- market day, really in danger? we will look at the debate next. new york rangers take on the washington capitals, we will tell you how much fans pay for tickets. it is one of the most dangerous jobs in america. politicians alike for decades. president obama: middle-class economics works. middle-class economics. middle-class economics.
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>> that is why it is all about building the most competitive economy. mark: has anything changed in the u.s. here with us is a bloomberg view columnist who has covered this issue. also with us from washington is a fellow at the manhattan it's a two who argues the middle-class is better off than we think. gentlemen, welcome. a question i will post to both of you. >> it is not easy to define. one of the articles in the series we put together looked at the definition of middle-class globally. it is in the eye of the beholder. there are many ways to look at it. it is an acceptable signification to say americans of ordinary means know the middle parts of the income. distribution.
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scott: i agree with that completely. i tend to either look at the households in the middle, or you could kind of look -- look at if you lineiddle, people up richest to poorest, how they have done over time and how that has changed. there is not a standard way unlike the poverty line, where we do have an official definition of who is poor. we do not have an official definition of who is middle-class. screen, it says on the you have some misgivings. what are they? it is important to knowledge the middle-class has good reasons to be anxious. we barely avoided another depression. there are things about the economy that are changing that our distance earning. i think it is important to look at and distinguish longer-term trends, which i think are not worrying, from the shorter-term trends we have had since the financial crisis area in the
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longer term since 1989, the american middle-class is about 20% better off than it was then. that translates to $11,000, not something americans would be indifferent between having or not having. the american middle-class was richer than about 95 percent of people living in the world in 2007 and richer than americans had ever been before. we are 5% off of that at this point, which is frustrating, but it is important to maintain longer-term perspective. why can't americans in the middle-class demand jobs that give them decent wages? >> one problem is we are having a relatively weak recovery. that is something we agree about the numbers right now. the first order of business is to get the economy back on its to run thes feet
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economy at a high level of employment. there are long-term challenges. there is a lot of uncertainty about the damage, of autumn's that it will press down on the living standards of many people at work, because more of us will be retired. it is all a bunch of forces over the medium and longer-term going to do the traditional american notion that people get richer at a perceptible rate. it poses challenges. that is what we have been looking at. president obama was in georgetown university yesterday discussing income inequality and he says the truth is more complicated than a character
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tours of liberals just wanted to throw money at what critics call undeserving splendors -- sponges. see the poor as, in his words, moochers. where is the truth? i agree with the president there and i frankly think a lot of concern about the middle-class, though it is well place, does distract from the deeper problems we have among the poor in the united states. the poor are like all of us in a lot of ways. they want what is best for their kids. they are stuck in a situation where they do not have necessarily the skills to succeed in today's's economy. we do have a number of federal policy programs that have incentives. you and i would act the same way in the circumstances, to behave in ways that do not promote upward mobility for themselves or their kids. we need to reform a lot about. small companies, maybe 20
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employees or less, why aren't they the employment engine they once were? clive: it is partly due to the recession and partly due to the fact the recovery is taking it time to get off the ground. is notancial system firing on all cylinders. this is a cyclical phenomenon. oftly it is a question giving the process time. there are issues here. washington could be addressing it even more than washington in some ways. states and cities. a lot of small businesses, too heavily in my view, a particular barrier to employment in these kinds of occupations, occupational licensing, which i more or the u.s. is less out of control. the increase in the requirements put on people who want to stack
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up as hairdressers or manicurists, for instance, is just ridiculous. there is a raft of needless regulation there that could be cleared away and that would help to revive the small business sector. i agree with you that reviving the small business sector is crucial to getting the unemployment engine moving again. mark: go ahead scott. scott: i could not agree more. i think we have seen a decline in dynamism in the u.s. economy and that is the most worrying trend in some ways for future economic growth. thank you so much. i appreciate your time today. ahead, one of the most dangerous jobs in the world, that may be about to change. we had to the frontier next. ♪
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mark: "avengers age of old tron ltron" total ticket sales for the movie, $932 million. welcome back. thanks for staying with us. let's get straight to a check of the markets. julie hyman is standing by. julie: averages have not been moving today. the retail sales number has been driving the action and that number came in well below the estimate. up 10%.got the dow
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the s&p up 2/10 and an affect up to 4%. of it is being driven by the retail sales report, take a look at the 10-year note and what we're seeing there. we've seen the yields trend higher than earlier in the day. here oneeing low levels that may be the economy is not an great footing. it is also being seen at the dollar trading below versus a basket of currencies. the second down day for the u.s. currency. in terms of individual movers, we have been looking at a lot of deals today. let's also mention owens, illinois. the lowest maker of glass containers in the world.
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agreeing to buy the food and beverage in vitro for $2.15 mexico andextend in it is the best performer in the s&p 500 today. in the oil industry, liam's will be buying 40% of liam's partners to 13.8 billion dollars. william partners is its pipeline affiliate doing this deal to really simplify its corporate tax structure and also to cut its taxes. a similar move was made last year. it is something that is becoming more common in the oil industry. hyman on this wednesday. thank you for now a look at the market action in asia and europe. david reports on the safety autos gripping the industry. first, let's go to jonathan london. rightan: i will start here in the fx market. euro zone gdp numbers coming in through the morning. germany missed estimates but the
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headline number for the eurozone came in line. the market shrugged that off for most of the day. then, they lit a fuse under the euro dollar. the euro goes higher against the dollar, the score on the board, that is a february high for the euro. it cascades through the asset >>. the stronger euro, just look at the rollover through this session. higher and higher and we go lower and lower. in the equityape market and we close the dirt -- close the day and mainland europe painted red once again for a second straight day. the dax off 1.2%. stocks lower. check out the bond market as well. the euro gets stronger as the stocks go lower. up by four basis points with a 10 year of 0.71%. back to you.
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>> japanese carmakers announced -- the headline number 6.5 million. 5 million from toyota. we are talking vehicles between march 2000 3, 2007. 40,000 in the u.s. 1.4 million in japan. not a lot of breakdown but 1.5 million cars mostly in japan, all on top of the 17 million we already recalled over the airbags. mark: thanks. a big game tonight at madison square garden here in new york. stanley cup playoffs. my fellow rangers fan joins me now and i will be watching and you will be watching. the question is where?
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>> i will be watching at home. the cheapest seats for game seven $600. mark: is this the most expensive ticket for non-finals? scarlet: yes. obsolete. more than $700 is in new york, the new york premium. the previous games in washington come in a lot lower. paying $780, you could have gone to washington, to all three games, and probably had money left over. to dinnerout afterwards. why are the tickets sky high? i realize the relative importance of game seven, but it is not the finals. but this is the most well anticipated matchup because the rangers are expected to go to the stanley cup finals. they won the trophy and they are the best team in the regular season overall and people have a lot of expectations built in. let's not forget ticket prices
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went higher than last year given the performance. montreal, the canadians lost last night. any idea how much that ticket costs? you are talking about two of the original six teams. this were a canadian team that would have advanced, it would have been a hot ticket. the price for game seven. had one been taking place, it compares to $708 in new york. it could still go higher. yesterday it was said the average spent for the game was already 824. people can bid higher. mark: all right. you know alexander is a guaranteed to win tonight. ok. thanks. still ahead, one of the world's most dangerous jobs aside from
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talking to scarlet about the rangers is fishing an alaskan waters there any way to make it they for? we will take you to alaska next. ♪
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mark: welcome back. catching fish commercially has always been one of the most dangerous jobs in america. though state and federal government regulations have helped reduce the risk to the fishermen, further efforts are needed to safeguard the world passes deadliest catch. world's deadliest catch. >> a fisherman is saved from an icy death.
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the commander pilots dozens of these each year. people get injured and hurt and we have to come and take them out of harm's way. >> it is a dangerous place. cause of course, if you are not prepared. in the small town, commercial fishing has been the greatest source of income. and the leading cause of death. fishing fatalities have dropped significantly since congress passed a law governing in 1988. alaska's fishing industry worth more than $6 billion a year has still lost more than 400 fisherman since then. classify had not known a lot of people who died in fish and because they did not have a piece of equipment or did not know how to use it --
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living butfish for a he teaches other fishermen today how to keep safe went out to see. in alaska, that means learning how to get into an immersion suit, surviving the icy waters. the coast guard here currently lacks the resources and authority to ensure every fishing vessel carries these life-saving suits. now, save people if they can on the water. it is kind of cherry picking things. >> and once lost three fellow trainingers and said available should be mandatory for all fisherman. >> a lot of people think they are invincible hear it you know how that is. "it cannot happen to me" type deal. >> like the commander, they may welcome any effort to reduce
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risk. >> if we never get launched out, that is great. i do not want anyone to get in trouble out there or lose their life or what they use, and an extremely dangerous livelihood. >> commercial fishing remains the deadliest profession in the united states. from ourare joined now san francisco bureau. it is a given that fishing is important to the alaskan economy. but just how important? oil and gas,after fishing is the largest industry there. what a 50% of the fish by volume caught here are caught -- two a $6s are used and it is billion industry. the 30,000 fishermen who go out fish, and day out to plenty other jobs that come with that. it is integral to the economy. besides the training you
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profiled in your piece, what other things make it safer as a profession? a surprising one is the way the quotas are established. not so long ago, it was the case that certain fish could be caught during certain days of they were looking for cod, let's say, every single fishermen in the region went out regardlessack cod and now, you can catch a certain amount in a given year and the fisherman have the option of saying, it is not great weather, let's go another day, and that has dramatically reduced the number of rescues required by the coast guard, and presumably the number of fatalities. mark: any pushback about these regulations question mark -- regulations? willem: of course.
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when it comes to safety, most of the people, especially those who have been out for a long time, they said to me, this is something we need and we want to we can say --ure stay safe. we have the ability to call the coast guard, we have all of these bits of equipment we would not necessarily get ourselves, but because we are forced to, we have them. is there a role for congress when it comes to ensuring the safety? willem: they passed a law in congress that was dramatically significant. we have seen things go down -- come down significantly since then. paypal is very important for safety training and specific about the kinds of training. theress has not pushed coast guard to perform some of the regulations they need.
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especiallygressmen, from alaska, can say to the coast guard within the department of homeland security, we would really do -- like to do some the about this. mark: joining us from our san francisco bureau, thank you so much. in philadelphia, a potential breakthrough for investigators trying to figure out why an amtrak train derailed last night. at least seven people died and 200 others were injured. amtrak suspended service between philadelphia and new york. that stretch of the northeast is part of the busiest rail in the u.s. athael have another briefing 2:00 p.m. eastern time. we will continue to monitor that for you. bloomberg market day continues in just a moment. ♪
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good for the ceo. we will hear from both sides. >> we have got the latest on the war of words between the united states airlines and the major gulf carriers. >> and back to the future and our childhood. sony wants dominated the 80's and the 90's. they want to pay off with this return. ♪ mark: good afternoon, imr crumpton here with scarlet fu. at the: let's get a look markets. equities back to positive gains right now. the dow jones industrial average by 13 points. a long and meandering road from down to up. if you look

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