this is boom bust broadcasting around the world and covering the big bad world of business and finance and the impact on all of us i'm part children in washington d.c. thank you so much for joining us your way you're on board coming up the day that

started media is seeking to buy tribune news have become the largest local television company in the united states conservative commentator steve malzberg joins us to discuss and we look at water scarcity with the author of bet the farm food stop being food bread hoffman and later we take a look at a particularly socially responsible investment firms with shane very merrily harvest what they are doing is really impressive all that directly had but first we get some headlines with daniel britto let's go. next part the escalating one m.t.b. corruption scandal leads our global report today as malaysian authorities file their first related criminal charges in the case against goldman sachs bank as an entity and goldman employees goldman's exposure on this front increase dramatically in november with published reports that goldman c.e.o. lloyd blankfein attended a two thousand and nine one him to be fund raising meeting in new york with low

take joe aka joe low a key figure in the massive multifarious scandal malaysian prosecutors are now charged mr low as well as tim weisner goldman's former chair for southeast asia in the case and are demanding three point three billion dollars in penalties for goldman's role and directing six point five billion dollars in investment into the debacle that was one m. d. b. goldman sachs stock was down two point five percent on the news. on sunday canadian prime minister justin trudeau said in an interview with the c.t.v. network that he will quote try and see if canada can cancel a thirteen billion dollar order from saudi arabia for military equip. including canny quips armored assault vehicles made by the canadian subsidiary of general dynamics even that weak statement is a notable shift for mr trudeau the canadian leader who went to tober worried about what he said would be seven hundred fifty million dollars canadian or one billion

u.s. dollars and cancellation penalties if the deal were next in november aid group save the children said eighty five thousand children in yemen have died from hunger and disease since a coalition led by saudi arabia attacked yemen in april twenty fifteen save the children also noted that a year after the u.s. supported saudi coalition imposed a blockade on yemen fourteen million people in that country are risk of famine. water scarcity around the world has been a problem for thousands of years it's been the cause of many conflicts and that continues today but there's an interesting and surprising story about water scarcity which may happen in of all places the united kingdom as a result of brecht's that here talk about water and pacifically about this bret's that circumstance is spread kaufman author of bet the farm how food stop being food

fred welcome thanks part how are you i couldn't be better because you're here we get to talk about something everybody needs and that water this breakfast circumstance we raise it a few weeks ago on the show just briefly because it appears that there's some chemicals that are needed to clean the water but give us the lowdown on what's happening what's happening is that increasingly we're seeing a financialization of the entire water sector the european union has been governing that financialization other words the meter rates the waste water infrastructure with bracks at the european union will no longer be involved this is going to have all sorts of interesting ramifications the utility rates. are set for every five years and it's conceivable that those rates are going to go up that investment in those rates might increase as an end as a hedge against inflation we're going to see a lot more action in what is usually

a more abundant area it's crazy when you think about it and back in the eighty's i remember my wife saying you know somebody should put water in bottles and boy do we wish we would have. done that because people are making money hand over fist around the world but water sovereignty is a big issue it's not just in the u.k. between the u.k. and the e.u. it's in the u.s. it's a big deal between california for example and the other. western states with the resources from the colorado river we've talked on the program about day zero when water is going to run out in parts of south africa and you talk about china yemen how big a deal is this going forward for us to try and solve water wars are coming in fact one could argue that they're already here saudi arabia of course is one of these countries which has water troubles along with china that we're seeing countries like russia the united states england places which are traditionally water rich

areas which are really and that's going to help them going forward places like canada was very water rich are going to increasingly become important sectional players because of this also as we're seeing it as the arctic you know as as we head north as well as it's melting we're seeing that that area is not navigable and those water resources are becoming increasingly a vailable but the most important thing is how that's going to translate into money people have been trying to say there should be a water's future market how we're going to regulate this so that when there are moments of scarcity the price doesn't go through the roof and we see water famine and it's there's a billions of dollars when you talk about investment in desalination projects in the middle east when you talk about the resources needed you wrote about wrote about it in your book about the amount of water it takes to produce meat what are some of those figures by the way it takes a thousand more than a thousand gallons of water to produce one pound of meat the water resources

resources on earth literally will not be able to sustain the meat production going forward so we're going to have to figure out some way around it something's got to give but it's a sector which if we're going to watch carefully and as i say there's going to be increased vega there's going to be more volatility there's going to be more investment there's going to be more uncertainty and of course that can lead to profits and losses you know fred one of the things that always gets me a. on nerves on the program is i always want to make sure the the phrase we use among our team is it's a boom bust enough that we're talking about business and we've done that a little bit here a lot but there's also the human toll that this takes when i think about yemen what the u.n. said is one of the worst human atrocities occurring there this is really important to people it's causing people to die right it is and it's also changing the geo political map if we look at like one of the most water rich parts of the world is central africa and so we're seeing again are places like china and places like

saudi arabia and all trying to get their claws into those great lakes in the center of africa so that they can have a handle on those water resources if people do not have enough to eat if people do not have enough to drink those people are ungovernable crazy good point thank you it really important topic fred kaufman author of bet the farm how food stop being food thank you fred thank you. next star media group is buying tribute media for a reported four point one billion dollars the deals are expected to create the largest owner of local t.v. stations in the united states that title is currently claimed by sinclair you may recall that they were forced to bow out of their attempt to purchase tribune in august after a federal communications commission expressed concern over the deal here to tell us

why this deal happened and what it means for the industry is conservative commentator steve malzberg thinks the banks be in here great to be ok so first of all what about these two companies we know a little bit about tribune and a little bit about sinclair but tell us more right now next are. they on about one hundred seventy five broadcast t.v. stations and you know in this day and age that sounds like a lot but they're going to they're going to buy a lot more and what's going to happen is they are at about forty percent of how. olds in the united states to make this work they have to sell off some stations because there's a threshold if you're in thirty nine percent of households as a threshold of the number of stations you could own so in fifteen markets they overlap with tribune stations and we're talking about places in maryland we're talking about places in portland like portland in indianapolis so they're going to sell them off is going to bring in about one hundred seventy five million dollars which isn't bad they could package them they could sell them separately and they already have interest from several companies including quoting scripts and others

apollo to name two that want to purchase these things so it's going to be very interesting to see as they go forward what they wind up with what they sell off but they're very excited and to become the number one in broadcast stations own local stations own it's a big big deal tribune you know they have the a couple of the real big powerhouses in chicago w p i x t.v. in new york and so there it's a valuable property that's why sinclair wanted them and that's why necks are spending four billion dollars plus to get them well i mean what i mean the next star are they going to have any of the same problems that sinclair had once and claire tried to buy tribune might have said next what next or well here's what happened with sinclair sinclair a very friendly considered conservative from the to the trump administration and to trump who voiced displeasure that the deal didn't go through as a matter of fact so when the head of the f.c.c. is sheet pie red flag this deal and said something's not right here essential up waves especially to sinclair but reportedly what sinclair was going to do when they

had to get rid of stations to meet the threshold for instance that they did get rid of well yeah but they were good they were going to sell their chicago and they did tribune acquisition w g n reportedly to a car dealer who had a business relationship with a sinclair executive they were going to sell the used in the dallas stations to a company that had a part in the in the estate of an executive's mother so the f.c.c. looked at this and said all know this is this is against the law. law and that's why i think sinclair is being sued now by tribune for putting that through all that so that i don't think that's going to happen here with the next star i think next year has a good relationship with the f.c.c. and they're going to do everything properly and the way it should be done it's amazing and you know you grew up around this area but you know on the east coast and in new york but boy i grew up near chicago and w.g. and i mean a huge deal you can still go by the way you may know this and see right there near

water tower place and you know wrigley building you could watch them broadcast radio w.g. and radio for right there are so you think this is going to happen and you and the sinclair will be a rather next star will be the largest local media yeah but here's the thing about about local t.v. broadcasting and t.v. broadcasting in general we're told all the time bart we hear all the time instead now they don't think so they're investing a lot of money here to keep it alive and to so in this case size matters that's what next next hour is doing this because they have to save all netflix and how does the and all the others that that stream all these things and people are opting out of t.v. and so for their sake i hope it works for them it also gives them strength when they are negotiating deals with the providers for retransmission fees pay t.v. providers and it's supposedly going to bring in sixteen million dollars in earnings

in the first year alone so that's the bottom line that's what it's all about but this is an industry that you know is very question where will it be in five ten years from now will it even exist local t.v. stations will see may just be the malls bird company i don't we don't know steve moore if i get somebody coming i think you see why they're legit. time now for a quick break but hang here because there's lots more coming up including a look at socially responsible investing and some more headlines with daniel britto . as we go to break here are the numbers at the closing bell.

my son doing drugs my nephew was still in drugs my sister just with doing drugs it was like an epidemic of drug abuse america's public enemy number one in the united states is drug abuse we started going after the users in the prison population sewer we started treating sick people people who are addicted to these drugs like criminals while i was on the hill i increasingly became convinced that the war on drugs was a mistake there are countless numbers of people who are in prison for. certain sins for boring or minor offenders in the drug trade it's a lot watching your children grow up and miss you in waves and say bye daddy as you're walking out of a business it's just it doesn't get easy. answers financials well i don't fly i prize on a teacher's. face the flight. as the last of my ex from the future.

was kaiser. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president. or somehow want to. have to. have to go right to the press this is like before three in the morning can't be good. i'm interested always in the waters of my. question.

welcome back britain's largest carmaker jaguar land rover is expected to announce in january that five thousand workers will be pushed out of their jobs as part of a plan announced in october to cut roughly two point five billion billion pounds sterling in expenses the car mark the car maker warned in july that brags that related bumps in the road could do an estimated one point two billion pounds of damage to the company's bottom line unite the union representing jaguar workers also cited brags that in their response to the job cuts the unites united spokesperson said the government's demonization of diesel its botched handling of bragg's it and economic global uncertainty have seriously dented the hard work of britain's car workers and making their industry the jewel in the u.k.'s manufacturing. and the class clown and star students of the union european union's crash course course on budget politics seem to be switching roles in italy

as we previewed last week the leaders of the coalition government on sunday confirmed their decision to abandon spending promises and trim their projected budget deficit from two point four percent to two percent of g.d.p. per a revised plan from prime minister just at the conti remarkably the e.u. is economy commissioner last week rejected the italian climbdown as not going far enough meanwhile prime minister edward felipe of france admitted in an interview that president emanuel micron's recently announced reversals on taxes and spending or pushed the french budget deficit to three point two percent of french g.d.p. . we now have a great top coming up but i couldn't be more excited because i'm pleased to be joined by one of my former colleagues at a law firm both of us were not lawyers that we gave unscathed. very malley the

founder and managing partner of carbon who is not only an expert in start ups and venture capital but as involved with us super noble endeavor making a real social impact shane welcome it's so great to have you here also to be here good to see again so let's talk about carbon what you're involved in tell the boom busters about it absolutely could be more excited so this is been a passion of mine for advice fifteen years actually and what we've come across as you know we're at the tide where the world is changing a lot of things are going on and we're losing our humanity as the way we kind of go its underlying thesis of what we're doing carbon is essentially a social impact enterprise that works to create blueprints around proven technologies and solutions of proven profitability in order to replicate and create solutions that advance compazine knowledge absolute resiliency for women and resorts efficiency so food energy water our goal is to take these blueprints and create a commies in a box that we can then rapidly distribute around the world for people to stand up

on their own through local entrepreneurs and community partners that can then experience social and economic prosperity from selves ok so let's unpack that a little bit so carbons an issue it's a huge global issues climate change all the things we talk about in the program all the time but are you sensually setting up when you say. what is entrepreneurship in a box yes or economies of oxycontin is in a box so how does that actually work as it is set mode that you can give to the new new folks of innovative ideas on how to start up explain it a little bit more yes or so we actually use the berkshire model so we are a holding company of the centrally has a portfolio and we've had three that we've stood up one in each pillar that i just mentioned but the idea is to you be a flexible participation model whether we cut an equity check whether it's debt finance whether it's a joint venture royalty whatever it might be but the idea is to take a solution create a template around that that is. already demonstrated its effectiveness both from

a social impact perspective from a viable business perspective but also that is profitable so we take that replicate that in a way where we believe we can do about eighty percent to standardize twenty percent is less left of that kind of local standardization and adaptation and the idea then is as we create that we can have subsidiaries or replications named carbon carbon copies that are formed underneath almost like a franchise model so it's almost like if some i want to take on a local dunkin donuts you know the model would hold true where basically they own ninety percent of that business we would own ten and so there's still the profits that flow back to the mothership so to say you know i didn't clear this with you so maybe you can't answer but can you give me an example of one that you're already working on absolutely so one of our companies work on now is coming out of india called we recycle this is an entrepreneur that came to the u.s. almost twenty three years ago she went to study at the university of michigan at

the design school and essentially came back in hyderabad and had a passion for sustainability so saving the environment looking at waste streams and she literally took plastic bags bottles cardboard recycled t. shirts and has created this amazing line of stationery invent products lamps except she's hired one thousand women from the slums and all of them have actually put their kids to university now with the profits they've made doing this oh what a success and we're planning to bring that to the u.s. to empower not only maybe incarcerated women that live in these shelters that maybe have been human traffic come out twenty years later have nowhere really to go other than be a cashier and go back to the lives of their really knows just drugs and prostitution this is something they can do at their own facility the shelter the shelters can actually then participate in the model because they actually now have a self-sustaining mechanism of a business where they're the ninety percent owner so to say. their labor force are

the women that they're working with and we create the movement and we also create the output to sell this product on a global scale are you working with some of the other investors that you worked at in the law firm the sort of the v.c. folks are and are you to help invest in carbon and then you are making these investments in these socially responsible endeavors so believe it or not so we've grown the team to ten and we've got a company now in each category and it's only been five months so we haven't even got to that stage yet but we've identified some very key technologies that we believe represent each pillar that we stand for and so we're just rolling up our sleeves all the guys in my team and women on my team or a very seasoned professionals from running multi-billion dollar corporations to being investors experts in film media marketing regulatory and so we have combining all these different skill sets to really create a unique approach of value creation for each one of our portfolio this is it's like

a shark tank for environmentally conscious and socially responsible folks let me ask you where this idea come from i mean i know what you did before but i mean. who came up with this so it's interesting so my passion for this space started fifteen years ago and the story of how this is all come back around is it's quite interesting we can save that for another time or drink but essentially i was at a conference when i worked on wall street initially and then left to join a venture firm about one hundred million dollars fund i did about sixty percent of the investing in that portfolio but in my early years i went to a very interesting conference with now called click with them called clean tack which was around sustainability energy efficiency all that stuff and i saw a very famous architect give this amazing presentation on the concept of cradle to cradle so design with the end in use there was another gentleman that was actually presenting with him a guy named go the route from philips who basically. you know helped develop that

business and brought a lot into the world. fifteen years later he is now my partner and carbon he inspired me in that audi is it's absolutely amazing i mean he inspired me as a young venture capitalist and that on as i said one day i want a fund that only focuses on these things because honestly for me these are the only things that will matter when i go to my grave. you know i was going to ask you earlier before we started but i think i know the answer i was going to ask you about you know life after large global law firm which what we both enjoyed but i think i have the answers to why you're doing what you're doing i mean you're you're involved in something unique and you're helping to change the world is that summit up or are there more there's more i mean it's that's just the beginning and i want to change the world for each and every individual so when you actually look at the name carbon it's spelled with the r. backwards and what does that mean that are in cyrillic actually signifies i early i want to help create the era of the authentic individual to empower them to reach

their full potential and fulfillment if you look at some of the steps that are happening right now sixty percent of employees are dissatisfied with their job. imagine if you had a platform and the capability use your existing skill sets to further your own personal ambitions and not leave a do a live in employee and end up and having a personal aspect of the person at home or the one that has to do side projects to get their fulfillment the turnover is growing more and more especially as you look at the millennium goals and the gens ease coming into the workforce companies the last authenticity and corporate citizenship is a growing growing concern of the entering workforce if we can empower those individuals and we do this through our advisory practice by doing a series of workshops. in the making but if you can empower those individuals say take not only a look at yourself in terms of your personal branding your authenticity but what do you really need to do to thrive not as an employee not as

a person outside of work but as an individual and if you can solve that you can actually change the corporate culture from within and create in the whole environment of the city for a corporation or a magnificent mission let me ask you going forward we're at the end of the year what's up for twenty nineteen twenty one seems to be busy we're extremely overwhelmed with some of the activity we've done so far so we're standing up our initial portfolio companies one is a educational platform for tutoring that allows us to use the capability of a machine but allows to and able to during a at a exponential fold basically a one to two hundred ratio where a tutor can tutor two hundred kids a month right through a tablet and the machine basically does all that work and we're going to layer on new verticals of content around stem around health education around sexual harassment around a lot of different things that nobody wants to talk about until it's too late so if we can start training the minds and educating them from the time their fifth

graders about what the ramifications or of sexual harassment are things that plague our societies once you're too late it's not about just falling with the crowd anymore it's actually. being in the know and then the last one is a water filter cum company that we're working with that essentially takes a anti-microbial survive mind ceramic pot delivers fresh water and kills ninety nine percent of the water borne diseases that are carried in that mechanism so that huge hugely exciting problem i cannot tell you how honored i am to call your friend and how much i'm pleased that you're able to share this with the boom busters you're doing things that are uplifting that's a particularly important thing for us to be talking about at the end of the year during the holiday period chamber melody thank you so thanks so much appreciate all right thank you. that's it for this time thanks for joining us we'll see you tomorrow.

if we have a new trade arrangements with china that may build a new foundation for war stable relations i think broadly the if there's of the us has a problem in accepting the rise of china no matter what they do. with coal make us manufacture consent instantly of public wealth. when the ruling classes protect themselves. with the financial merry go round be the one percent. it's time to ignore middle of the room signals. from the real news is

really. imagine being six thirty five and you have a career and a career involves using your i phone in your computer and things like that in an office and perhaps you sort of getting hit circulars. are going to have to stop doing all this in this kind of you live in here it's must be free my world became smaller and smaller and smaller until i ended up running it in a box. or out at a very strong magnetic field on my head in my head. thinking it's like a real heart my skin burns and that wireless access point there says continues on saying with our students in the schools. we are just continually bathing our citizens in this microwave radiation it is certainly electoral smaug

and it's getting worse. was leading. me to a little bit and that was very moving i was immediately at work for. a. good job through. the u.n. general assembly a dobson resolution condemning russia over what it calls the militarization of crimea. the measure as a provocation. but he foreign ministry. saying it's

a work.