aren't and blackstone group. are very very very politically connected they're friends with the clintons they're friends with the obama's they're friends with the tribes these guys the time multi-billionaires that run these companies are very very close and you can bet that hillary clinton or joe biden are dollars from care way more about those guys that run those firms than $100000000.00 voters in this country so like just understand that you you don't care you don't matter these people do so early this summer congress appeared on its way to eradicating the large medical bills that have shocked many patients after emergency care the legislation to end out of network charges was popular and has support from both sides of the aisle president trump promises support then in late july a mysterious group called doctor patient unity showed up and poured vast sums of money now more than $28000000.00 into ads opposing the legislation without disclosing its staff or its funders now that mystery solved the 2 largest financi

are in blackstone the 2 largest to the largest private equity groups in the entire world well mystery solved private equity back from rooms are behind ad blitz on surprise billing to dr staff and companies are pushing back against legislation that could hit their bottom lines they spent $20000000.00 lobbying and pushing ads on television nobody knew who they were facebook ads they spent millions on facebook ads and basically got the whole surprise billing we were to stop at our legislators want to stop it on our behalf but now they're not going to write this all in network out of network so even if you have insurance if you are out of network in a facility in an emergency room for example you get charged this exorbitant fee that with the case of the woman who sing in the subway she was faced with catastrophic health care bills as are millions of americans every year who end up homeless because of the vagaries of the system that creates these hardship cases for the benefit of private equity investors not for the benefit of the average citizen so you have in network out network and then

i still own apollo the liquidity event was the reason i owned blackstone.past us i sought to take profits >> joe, you mentioned this one or you mentioned kkr >> kkr was above 30, and it has fallen back on the conversation surrounding elizabeth warren going after regulation and private equity that's a concern there kkr does have significant exposure along with carlyle, if you listen to what senator warren is talking about. that would directly impact their revenue. black tostone and apollo are mo diversified and less in the cross hairs on that regulation the pullback has to do with that private equity regulation. i'm staying with kkr, but i'm not happy. >> fabulous gains this year. blackstone, 60% year to date gain. >>> venture capital's meeting with startups. venture capitalist rick heitzmann joins us next. beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is hum

byron wien, blackstone. the closing bell 37 minutes away. is down 279 points, but first political tensions in hong kong are boiling over. folks, this is just hours ago. not only did china flex its military muscle, it used live ammunition on an 18-year-old. the growing threat to stability in the world's second largest economy and how it could impact the u.s. trade talks. "claman countdown" coming right back with a live report. lanet as with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. do you have the coverage you need? annual enrollment ends december 7th. nos the me to get on a path where you can take advantage of all the benefits of an aarp medicare advantage plan from unitedhealthcare. call today to learn more. these medic

we have seen firms like blackstone take stakes in other alternative asset managers, including blackstonelub bought a stake in d.c. partners. definitely a part of a broader trend. lisa: thank you to all of our reporters. nice that you mentioned golub. in bank earnings this week, we got a tremendous amount of news. a big question looms over wall street. how much competition are banks facing from the world of alternative asset managers, which are raising billions of dollars to lend to corporate america? joining me now is lawrence golub, chief executive officer of golub capital. thank you so much for being how much are you competing and find yourself coming up against some of the big banks out there? lawrence: banks are really good at real estate lending, asset based lending, but they are not very good and not staffed up to do enterprise value lending to established companies. at this point, the evolution has gone on for about 12-15 years. at this point, we hardly ever see banks as lenders competing with us in our market. lisa: how much competition is there away from banks, among the other a

blackstone, goldman sachs.se buyers are trying to get a slice of the private equity returns that these firms are seeing, whether management fees or carried interest. ins is causing an explosion the value of the fortunes of these private equity tycoons. toert smith has been able monetize some of this wealth locked in his firm and become one of america's most prominent leftists. -- philanthropists. people are seeing this and saying this is a great way to boost fortunes. lisa: on the flip side, and increasing interest of investing in private equity firms, even with other private equity firms. who has been the most active on the buying side? howou have any idea on much more active this market has gotten recently? >> the poster child of this is dial capital. 10 years ago, they started to shift them investing from hedge funds into private equity. .hey have really led the charge they have done the most deals. in terms of the overall market, it has gone from nowhere a decade ago, now you are seeing about 20 deals a yea

certainly in blackstone you have the outperformer >> yeah. >> but banks in the environment where yields go lower, are coming up under pressure even though the yield curve steepened from in the last couple days from the short end. >> i would agree citi on october 15th war was carter no. >> the plasma. >> the mart board did the amazing job. but we often go there to do something we like to call the. >> the power pitch. >> the power pitch and so tim's point we actually power pitched a bank a kwhiel back saying maybe the bond market has gotten ahead of itself maybe at 65 to 70% of tangible book citi is cheap. about but these are trading vehicles yes it bounced today but i think banks, the tranltry is lower and continue that way. >> that was a great power pitch from trading perspective. >> thank you, dan. >> the sentiment was bad. >> how do you feel we completely change the name. >> very frustrated let it go it's friday. >> talking about two weeks ago when jp morgan made the all-time high it's the only bank in the northern hemisphere that did that what did it do went from 121 to the new high,

blackstone ceo steve schwarzman tells cnbc that reaching an agreement will be tricky. >> there are manyany china who say that's okay, but there are others who don't want to change. so, when you have three parties at the table, we have u.s. and we have the chinese reformers and we have the chinese hardliners >>> hsbc is reportedly set to slash up to 10,000 jobs as they look to cut costs on the new interim ceo. >>> buyer shares tick higher after another trial over the roundup weed killer is delayed the german chemicals giant is inching closer to an out of court settlement. >>> and ams fails in its 4.5 billion euro takeover bid sending shares in the german lighting group lower, but they tell us the company is open to collaboration with the austrian chip maker >>> well, good morning and welcome to "street signs." it's the start of a new trading week so let's get into some of the price action wall street saw a higher close on friday. we had goldie locks employment report the headline number came inside lower than expectations still showed pretty firm backdrop with unemployment rate at 50-yea

i would say apollo and blackstone, i think stone in addition to kkr is the opportunity.time highs the end of september >> remind me you sold black stone and put it where >> exxon, where does it go >> it is defensive this is one to own for the long term if you think oil prices are going higher, you'll want more beta, more juice i prefer chevron but i think you are fine in exxon long term. >> we are going to take a quick break. when we come back, we'll talk about that stock don't tell us. shannon bought something new and sold something bo tt teth authaafr is break. the biggest challenge of... ...owning and running a small business is finding the right people. in hiring our first recruiter, we decided to post a job on linkedin. they had to have worked... ...at a recruiter firm and be bilingual. when we saw ana maria's profile... ...she had a ton of experience in hr. the interview went really well. and she seemed like someone who could really sell mckenzie to perspective employees. we found the best person to find the best person for us. post a job today at linkedin.com/grow

next one is, blackstone, right? full disclosure, i own some blackstone.of the dividend. when i bought it i think it was paying 6 or 7%. the stock price has gone up. now it is yielding four or 5%. i still like the dividend. why do you like it? >> wealth dividend is certainly very nice dessert to be getting all the time from blackstone but if you step back, the bottom line is, that private equity is a business that is here to stay for decades to come. blackstone is the world's leading private equity company. in our view, and my view, it is the best managed private equity company by quite a lot. so, and they're not just in private equity now. they have branched out into asset management. they are are a very big powerhouse. if one thinks that over the next five, 10, 15 years, companies will be taken private, asset management business will continue to thrive, that you want a global leader. that is why blackstone is very high up in our estimation. stuart: but the dividend is safe? i bought this thing for the dividend. are you telling me it is safe? >> it, black

this morning john blackstone introduces us to the most famous fog in the world.even got his own website. >> reporter: in san francisco, it's a typical day. the fog is in. high points on buildings and bridges may poke into the sun, but much of the city is engulfed in gray. >> yeah, the cool water. >> reporter: for meteorologist mike peckner, who is somewhere there in the fog, this is exactly the way it's supposed to be. >> fog is the natural air conditioning of san francisco. >> it's foggy! >> reporter: but it presents a challenge for tourists searching for that perfect picture of the golden gate bridge. >> the main thing is the golden gate. >> the golden gate, where? >> reporter: where is the golden gate bridge? >> i have no idea. >> reporter: while this weather pattern may disappoint some -- >> we came to enjoy the view. >> reporter: many others are now on a first-name basis with san francisco's fog. >> i know that carl the fog is ever present here. >> reporter: who? >> carl, the fog. >> reporter: who's carl? >> the fog. >> reporter: when it comes to views of th

we just had the blackstone vice chairman talking about the opportunities in australia.bought a bunch of retail. we have been net sailors -- sellers of retail. it has become an internet shopping destination. shery: what do you think of australia? it's a good market. it is pretty small, very well served with local competitors who are entrenched. for the moment, it's not within our growth plans. there is plenty of growth opportunity in the larger markets around the world. we are really in a different business than blackstone. we both obviously love warehouses. that's our only focus, that's all we do. we don't do anything else. as a result, we are not in the business of trying to buy list ask ones -- would just year and sell retail the other year and rotate around. we are in the business of building and operating company focused on logistics as our sole focus and growing that business around the world. we feel it's a business that has 10-20 years.her haidi: you have been 20 years in japan. what opportunities do you see their? how is the logistics market looking? >> it's int

owns 82,000 of them and they're renting them >>> we're answering your question on shake shack and blackstonehalftime or tweet us we're back in just about two minutes. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind. it is already working in cities like tokyo. my dream is to help millions more people like me. some farms grow food. this one grows fuel. ♪ exxonmobil is growing algae for biofuels. that could one day power planes, propel ships, and fuel trucks... and cut their greenhouse gas emissions in half. algae. its potential just keeps growing. ♪ doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. ♪ >>> hi, everybody, i'm kelly evans and here's what's coming up on "the exchange. are bad trade deadlines losing their power for stocks >>> plus, weaker iphone sales, the first quarter shows it's no longer a one-trick pony. and how big does have to be? >>

. >> blackstone, another great quarter, money coming out of traditional stocks and bonds and into private alternatives back blackstone best of breed. >> don henley karen carpenter, tim seymour drummer and lead vocalist nasdaq. >> nasdaq. >> see you tomorrow on fast. "mad money" starts now there is always a bull market somewhere. find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet me @jim cramer. if you're not confused you're not paying attention we have reached the point of maximum disorientation something that happens to every earnings season when there's too much to keep track of and the action seems to stop making sense. the dow gained 46, the s&p advanced and the nasdaq climbed up, you have every right to be extremely frustrated stocks that should be going up are going down stocks that should be down are going up human sacrifice, dogs and cats are living together, mass hysteria there's a m

at blackstone.former vice chair of ge and ran ge's airplane engine business during 9/11. so he's been through a crisis or two. he is also the turnaround ceo at nielsen, the ratings company. he's described as intelligent, pragmatic and disciplined. now this is a high-profile board that boeing has. caroline kennedy is a member of the board. nikki haley recently added to the board. lots of other high-profile folks, b they have seemed to have stripped dennis mull enburg of his title as chairman of the board. the southwest pilots that you mentioned earlier they are currently suing boeing for 100 million dollars in lost wages because this aircraft has not gotten back in the air. on friday, president trump said that as part of the big great wonderful deal that he made with china, which may not turn outo be a deal at this point, that there would be between 16 and 20 billion dollars worth of boeing aircraft purchases by china. boeing, however, is refusing comment on, that and there have been no further detai

alternatives back blackstone best of breed. >> don henley karen carpenter, tim seymour drummer and leadn fast. "mad money" starts now there is always a bull market somewhere. find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet me @jim cramer. if you're not confused you're not paying attention

mgm resorts has also entered into a lease-back partnership with blackstone for the bellagio.s valued at more than $4 billion. mgm resorts is calling the deal a landmark transaction for the gaming and entertainment industry. >>> a michigan judge is blocking thstate'o-ekan on avored e-cigtes.adulreturno smoking more harmful tobacco products and hurt the vaping business. the governor is promising to ve to ban the sale of flavored vaping products amid a rising number of vaping-related lung illnesses. they were teased over the fall on twitter. they have dual rear cameras, car crash detection, and live video captioning. the pixel 4 starts at $799 while the pixel 4 xl will start at $899. both are available in black, white, or orange, which google calls, oh, so orange. >>> and rap star lizzo is facing allegations of plagiarism over her hit song "truth hurts." the music producers claim they helped write the signature lyrics about taking a dna test. but they were never credited for use of the lyrics. they say they've been trying to resolve the dispute since 2017. lawyers for lizzo is h

. ♪ ♪ ♪ gerry: recently id had a chance to talk with steve schwartzman, ceo of the blackstone group,argest private equity firm with more than half a trillion dollars in assets under management. he's also out with a new book, "what it takes: lessons in the pursuit of excellence." i asked him about the current political debate over the fairness of the tax system. elizabeth warren in particular as the front-runner really thinks there's been too much, too many rewards have gone to wall street, to finance, and she wants to do something about it. are you sympathetic to that argument? >> well, it's an interesting argument in some cases, you know, based on false premises, based on ideology. but what is true is that at least 40% of americans are not in good shape financially. part is because our education system in the country is not what it was. when i was growing up, we were the number one, two or three in the world, and now we're someplace between number 25 and 30. and those people aren't necessarily prepared for the world that we're living in. the knowledge economy. and something's got to

. ♪ ♪ ♪ gerry: recently id had a chance to talk with steve schwartzman, ceo of the blackstone group,st private equity firm with more than half a trillion dollars in assets under management. he's also out with a new book, "what it takes: lessons in the pursuit of excellence." i asked him about the current political debate over the fairness of the tax system. elizabeth warren in particular as the front-runner really thinks there's been too much, too many rewards have gone to wall street, to finance, and she wants to do something about it. are you sympathetic to that argument? >> well, it's an interesting argument in some cases, you know, based on false premises, based on ideology. but what is true is that at least 40% of americans are not in good shape financially. part is because our education system in the country is not what it was. when i was growing up, we were the number one, two or three in the world, and now we're someplace between number 25 and 30. and those people aren't necessarily prepared for the world that we're living in. the knowledge economy. and something's got to be

by blackstone, paying more than $4 billion for it.ng ofheand to raise cash is becomingne of the biggest trends in the casino industry. contessa brewer isn vegas for us tonight. >> the bellagio with its dancing fountens is one of theee must sights but it's about to have a new owner.ea blackstoneestate income trust or a reit. mgm resorts is sellingsi the resort and raising billions in cash. >> we're goingo reduce our financial levere. all the money we receive from blmkstone here at belgio will go to reduce our financial leverage. by the end o 2020 our balance sheet will be vastly stronger than even >> mgm will continue to operate the bellagio and pay rent to blactone. visitors shouldn't see a fference. for the company, the difference versus a property company. >> the capital markets h he been very clear t over past five years, ten years that the sepation o real estate from is a capturing the highest value in stock pricings. and mhatsage has come across loud and clear. >> mgm deployed the strategy with morthan a dozen other properties. a

treasure island owner phil ruffin that deal is worth million a pretty penny separately there's the blackstonestate income trust and in gm, they agreed to form a joint venture to acquire erin gm's bellagio real estate and lease it back gm. deal that values the property at 4 point 25. just sounds like a lot of money being exchanged between a lot of rich people. >>all right a live look outside checking in on the airport, no delays this morning in a report of any major delays temperatures are cool. 2 mild you're waking up to temperatures in the 40's and 50's we'll get those afternoon highs for you after the break stay with us. >>4.55 on this wednesday morning conditions a lot clearer than they were yesterday at this time looking out from berkeley you do see some low clouds but nothing that should be blocking out your view this morning now unlike yesterday skies are actually getting a cloudier through the day today, a setting us up for a mostly cloudy afternoon cooler temps and yesterday to only in the 60's and 70's. tomorrow, another cool day and some predawn sprinkles before you even had out tom

start with anything just penalize everyone that's done well now steve schwarzman the founder of blackstone says that the treatment of billionaires in the united states is starting to resemble the treatment of the jews in nazi germany seriously he actually said this it's the wall it's like when hitler invaded poland in 1939 and he's not the only one it's a rising trend if you go back to 1933 we differ from woods this is what hitler was saying in germany you don't survive as a society if you encourage and thrive on and view it genesee the wealthy t.v. preacher kenneth copeland has also reported suffering at the hands of the not so wealthy or a huge fire lines you can't manage that today right this don't feel old world right get in an air get in alone too with a bunch of demons so the gap between the rich and poor in america has reached its peak in half a century so do you think that billionaires are really an oppressed minority we decided to ask new yorkers what they think that's a joke right oppressed. not. malcolm we approached minority women in a world where i don't think they should be h

next week i'll be talking with blackstone ceo steve schwartzman right here on "the wall street journal at large." thank us. ♪ ♪ >> barron's round table, sponsored by: this week or waze ceo weighs in on how carpooling just might save of the world. the outlook for embattled boeing ahead of next week's earns, and bill nye again with surprising stock picks. barron's round table starts now. ♪ ♪ >> i'm jack otter, welcome to barron's round table where the sharpest minds on wall street prepare you for the week ahead. we begin with what we think are the three most important thing we think investors should be thinking about right now. netflix faces threats from rivals like disney and hulu. health care stocks have been left for dead, but solid earnings from unitedhealth and cooling concerns about medicare for all may revive them. and with the impending return of the embattled max, what to expeor boeing ahead of next week's earnings. on the barron's round table tonight my colleagues, ben levinson and jack howe. jack, you've written an interesting cover story about it, you picked some winners and

their network has always been a lot of family offices so they're not usually going to try to like blackstone in the big client it's much more likely that it's going to be on a road show with a lot of family offices so it's kind of just like the high end of what i'm talking about. obviously palm spends a lot of time talking to hundreds of thousands of people with this broadcast and things like that and i think that's a embracing right exam and talking the language of c. and b. sing i don't mean to digress into talking about completely so completely separate and i did ok but but but you guys are part of the ecosystem stronger because it is just stronger. based on absolute numbers of people that care about the client it's more decentralized it's more powerful and there are fewer choke points and there's fear opportunity for regulatory interference or government action or whatever the case may be we just you know we want more miners and more full nodes and more people doing self sovereignty and we want more people owning declined however we can get them done because they sell service like this a

next week i'll be talking with blackstone ceo steve schwartzman right here on "the wall street journaled by: this week or waze ceo weighs in on how carpooling just might save of the world. the outlook for embattled boeing ahead of next week's earns, and bill nye again with surprising stock picks. barron's round table starts now. ♪ ♪ >> i'm jack otter, welcome to barron's round table where the sharpest minds on wall street prepare you for the week ahead. we begin with what we think are the three most important thing we think

next week i'll be talking with blackstone ceo steve schwartzman right here on "the wall street journaling us. ♪ ♪ >> barron's round table, sponsored by: this week or waze ceo weighs in on how carpooling just might save of the world. the outlook for embattled boeing ahead of next week's earns, and bill nye again with surprising stock picks. barron's round table starts now. ♪ ♪ >> i'm jack otter, welcome to barron's round table where the sharpest minds on wall street prepare you for the week ahead. we begin with what we think are the three most important thing we t