david koch was a partner with charles koch but charles koch was the driving strategic thinker, the driving force, animating force behind the corporation and the political network so as personally tragic as david koch's passing is to him and his family you're not going to see a significant change. the moment to watch is when charles koch steps away and chase koch takes a larger role. that's the question of whether things will change or not. >> thank you, sir if the final questioner go ahead, sir, please. >> yes. can you briefly comment on the koch brothers' effort to make considerably large plate political contributions -- throughout the country to state legislature candidates. >> absolutely. here's how i put that. we talk about commodities trading. koch affects politics in the say way it trades commoditied. it exploits its advantage of knowledge. so koch has built a map of political power in the united states. picture it like a complex pipeline network, you have your state, the court system, you have the united states congress. koch examines where it can have the most impact and where it c

from the beginning, this guy, charles koch was the ceo ever since that time, he became ceo of koch industries and he's been in control for 50 years and i know of no other corporation in america that is been so chased by a single person in single personalities and from the very beginning he had a very clear idea of how corporation ought to be run. and one of the key elements of the dna is long-term strategic thinking. this is an organization that thinks on the horizon of two, five, ten years from now. at the same time, we talk about that and we talk about the theory of trading. but charles knew he wanted to remain private, remain contro ad control and quarter to quarter to quarter as so many corporations do, he wanted to think more long-term. bankers came and one from j.p. morgan and said to take the property public, you have access to all this money and you will get $25 million tonight, it was a no-brainer and he sent him packing, and when they got home they were banging their heads against the desk they said charles koch does not want the cash and one of the things he told them, if we go pub

so who are the koch brothers? explain it to me. >> they are owners of the second largest private company in america. probably everybody has some product from koch industries in their life. >> like what? >> they make everything from stain master carpet to dixie cups to georgia pacific lumber. but they are huge proprietors of oil. >> are they representing the interests of a wide group of the american public or are their interests, can they boil down to how much money it makes them? >> the cokes would say that what they are pushing is something that they think is good for all americans. but if you take a look at it, what you find is it's especially good for the cokes. >> the cokes declined our requests for an interview. but the reporting shows how americans for prosperity used money from like minded donors to help shift u.s. policy and politics in their favor, promoting huge tax cuts for the wealthy, supporting anti-labor candidates, funding efforts to crush renewable energy and almost all of the money came from untr

pay to funkhouser from thomas koch has been talking to the press here he has a statement from. i would like to say. to all of our customers those who are on holiday with us now and those who have poked with us in the coming months it is deeply distressing to me that the test will be impossible to say for all of the most loft brands in travel. ok distrust the c.e.o. there from thomas koch why didn't his company get the lifeline to charlotte it was looking for. well indeed a very emotional statement there and that's what we've been hearing from the travel industry this morning of course in the u.k. very emotional reactions to that bankruptcy so thomas cook has been and debts for a while now millions and millions indeed and the u.k. government had been in talks whether to rescue thomas cook on not indeed as we mentioned the oldest travel company in the world so that also of course enormous and enormous impact on the u.k. travel industry and on other businesses here in the u.k. and in the end the u.k. government said the transport secretary said that this morning that they just did

that's when he was primary by the koch network.he hearing of the supreme court. this is a long game operation. the two koch brothers both you know had over $50 billion invested in millions in making sure our politics are not responsible to the people and not responsive to the american people they have done that with investigating in think tanks and universities and political fields and all these different things. we desperately need more attention on that now because american prosperities interwoven in sophisticated ways and people going back and forth and so forth. >> republicans don't believe in democracy. not let the democratic governor, which they were denying healthcare. the flat norms or if necessarily they -- when it comes to voters, the way the republican base vote voters, the believes they have been fed on the last 40 or 50 years, if you look at the polling, the question of do you support decrease federal spending on assistance to the needy. democrats only 6% say the report decrea decreasing a to the poor. when asked, do y

want to ensure their government doesn't limit their ability to make more conservative donor david koch as one half of the koch brothers came to symbolize the influence of dark money in america but you know who's even better than conservatives that slipping the bills into their prodigy's pockets democrats according to this research a group called arabella advisors a little theme has been in the vanguard of the leftist money holds the shelter under their umbrella for nonprofit organizations by their nature they do not have to disclose who they're getting their money from but this research suggests that they've gathered a huge number of very wealthy donors some of the nation's largest grant making institutions including the rockefeller packard and koch foundations the donors to the funds managed by arabella it remains unclear why such large and powerful institutions seek outside philanthropic consulting but presumably a significant part of our bill is appeal lies in its ability to obscure large financial transactions these for nonprofits have been showering and to conservative grassroots

katie koch of goldman sachs asset management.sachs securities cohead, that is coming up next. and we are using btv go, check it out. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." diane viviana hurtado in the hewlett-packard enterprise greenroom sure to up, an exclusive interview with nobel laureate michael fence. to your bloomberg business flash. hsbc launching a public relations campaign to get back on china's good side. they want to repair damage done from the huawei matter. pretaxts 75% of its profit in greater china. for the first time, a woman will had one of the biggest banks in the u.k.. alison rose has been appointed ceo of royal bank of scotland. she is currently deputy ceo of natwest holdings. rose will replace the ceo. he announced within a year he would be leaving rbf. -- our bsp are diane viviana hurtado. f.anks -- rb i am viviana hurtado. alix: thanks, viviana. we spoke with martin chavez, and he spoke about what it was like to be one of the only openly gay man on wall street and the diversity workforc

what happened, what happened was in 2010 the supreme court decided citizens united and that led to kochrothers and other billionaires, fossil fuel people from having a completely outsize role in politics where they first set out just in that year, they set out to require every member of the congress who is republican to sign a climate pledge that said that they were going -- you know, say that climate change was real and humans weren't going to contribute to it and they went out and signed the pledge and -- and then ever since then we've been living in a world where if a republican in washington looks like they are going to do something on climate, the kochs have to rattle coins in pockets because it is chump change for them, really, because the supreme court we can put $30 million in your next primary and you are going to be dead before this even start, and that has created this profound corruption of inaction in our country. the supreme court in their opinion which i used to describe as like reading a seventh grader's american government paper and then i decided that that was insultin

not to blame everything on the koch brothers, but it's their fault.aughing] if you go back to the '70s, and they can under the link to my book about justification, basically -- gentrification, under nixon and then reagan the indices were completely deregulated, tax rates were slashed on the wealthiest americans, and in the case of gentrification that allowed them to kind of push for this horrible real estate grab the lead to gentrification. in the case of free-speech they had a lot of money to do whatever the hell they wanted with, and they came up with a plan. so the koch brothers main political advisor at the time, he was their political advisor for 30 years up until 2015. he put together this plan the said if you just tell americans we want lower taxes or deregulation around environmental issues, obviously no one will go for that, right, because those are terrible things and they don't benefit many people. so instead you have to come up with a rhetoric that is more universal, more kind of soothing to your average american. this is where free-speech

into various nongovernment organizations and nonprofits that are working with everything from the koch brothers to the sovereign poverty law center as you document through this book. it is stunning to see how pervasive and how successful he has been with a strategy. >> and on top of what you said, it's very important fact that is also exposed in the book, he cannot do it all on his own. in the confluence of special interest that include corporate interest like the koch brothers on the right, the u.s. chamber of commerce and any number of international organizations from the united nations to european union and here, the entire legal community, you wonder why there are no seminars immediately at the border working by nationally to confirm more rights on illegal aliens than american citizens themselves. lou: this is a conversation that i would love to continue and please come back as soon as you can, i know here on a national book tour and let me tell you, if you're going to read a book, make it this one. we appreciated. thank you so much. great to have you here. the president leading bi

if we can kick the koch brothers out of montana, we ought to be able to do it in iowa and everywhere in this country. so we need legislative action, but we don't have to rely on just legislative action. i also did this executive order in montana that said i can't tell you corporations you can't spend in your elections. but if you want to contract with state of montana you have to disclose every dollar you're either contributing or spending impact on those elections. think about if the federal government did that. they contract with near every company in this country and world. if lekked officials are going to be like nascar, correspondesponl kinds of different companies, at least we ought to know who is doing the sponsoring. this is the most important election in my lifetime. how many times have you heard people run for office say that? but it is. because it's not just about beating donald trump. it's about preserving at 243-year experiment called representative democracy. it's about making sure, and i met your councilman spence, a month or so ago, taking a tour. it's about making su

the world's oldest travel company thomas koch has collapsed after failing to secure a last minute bailout more than half a 1000000 people worldwide are currently on holiday with the group the u.k. civil aviation authority is beginning an operation to bring home some 150000 british customers stranded abroad the head of the civil aviation authority in britain tim johnson had this message for thomas cook asked him as if our customers passengers have a flight booked out from the u.k. to terry unfortunately your flight has been come sort. of a please don't go to the airports if you're overseas on a thomas cook our holiday then you can continue to enjoy your holiday at the cia it is launching a repopulation this is the largest repression since the 2nd world war so passengers are now going to be brought back with a large repatriation effort under way here's some reaction from u.k. travelers in spain at an airport in majorca a nightmare they measure stress. not all wanted really to fall for the old. what can you do we want to show you the nearest thing to what's happening. so no one has spoken do

everything on the internet so that business has come down and if for example if you look at thomas koch and that they've been in trouble for a while and they've been trying to sell the ad line business with which was profitable they were trying to sell thomas cook the allen telescope and call condo to the german wing to shore up their travel agency business because they had only sold the 1st half of this year only sold 57 percent of their planned holidays what they wanted to sell and that's basically because of their customer base in britain was waiting what happens with breaks it and all the time certain to it all and certainly if you mention condor it's one of the german subsidiaries of thomas cook it's applied to berlin for an emergency loan what's it looking like well it looks like they will be getting this emergency loan they have but they are profitable they're a healthy company and i'm sure there will be at some stage there will be a buyer for them but the focus today very much is on is on thomas cook itself the british government by the way couldn't step in mainly because as peo

on day 90, if we can kick the koch brothers out of montana, we can kick them out of new hampshire, out of d.c., out of everywhere in this country. [applause] because it is not just donald trump on the ballot. indeed, the american dream is on the ballot. we have significant problems in this nation. remember how united the country actually felt in those days after 9/11. we need that same kind of unity,, compassion, and to come together and bridge the deep division, solve that greatest challenge of our time, making promise and opportunity available to all americans. if we are going to meet that challenge we need to focus on what we share in common, not what divides us. was ablydency described by barack obama not as a revolution, but as a relay race requiring each of us to do our part, to bring the country closer to its highest aspiration. my solemn vow, when i take that oath of office, will to be to preserve, and protect, and defend, yes, the constitution, but also the american dream, to assure that every person in this country no matter who their parents are or where they are from has a

and then along come the koch brothers. some of you have heard of the koch brothers, the giant oil companies, the big polluters, and they get together and come ifeffect, say, "wow, congress get serious about climate change, that is going to bite into our bottom line. that is going to cut our profits seriously." so they have an investment decision to make. they could say, we can move from fossil fuels and go to clean, and they do not do that. they could decide to invest in all of the cleanup, how to pull carbon out of the air, how to clean up the water. they do not do that. you know what they invest in? politicians. they invest in washington to get the decisions changed, and oh, here is one of their biggest and earliest investments. they invest in scientists, so-called scientists, who deny climate science. let's think about that. why would they invest in the people who deny climate science? it is not because they do not understand it. they invest in it so they can develop an umbrella that people can hide under four decades a

time the heart of the anti- obama care we were in show toll montana everybody knew because of the koch brothers were kind enough to mail everybody the glossy pictures to barack obama saying that you are coming to your healthcare. that i showed up anyway and instead of just telling them what they need i actually listen the first said we are in a small town 43 percent of the people walking these doors do not have health insurance for golf couple folks got up afterwards they may have called me a socialist or that i would destroy america but maybe the fifth speaker was the chair of the county commissioner a rancher not even from shoto he was from a suburb a population of 50. [laughter] he got up and goes i was born in this hospital it save my life two years ago when i had a heart attack for if we lose this hospital the town is gone. instead of telling me what they needed i actually listened as i gave that republican legislature to give courage to defy party leaders to know that every single vote matters we have to assume with the base assumption that most people's lives are too frantic to

the koch brothers bombed our on day 90, it stopped. if we can kick the koch brothers out of montana, we can kick them out of new hampshire, we can kick them out of d.c., we can kick them out of everywhere in this country. it is not just donald trump on the ballot. indeed, the american dream is on the ballot. we have significant problems in this nation. remember how united the country actually felt in those days after 9/11? we need that same kind of purpose, compassion, and unity to come together, to bridge the deep divisions, solve the greatest challenge of our time, and that's making opportunity available to all americans. if we are going to meet that challenge, we need to focus on what we share in common, not what divides us. the presidency was ably described by barack obama not as a revolution but as a relay race requiring each of us to do our part to bring the to finishing that race. my solemn vow will be to preserve, protect, defend, yes, the constitution, but also the american dream to ensure that every person in this country, no

as british tour operator thomas koch is bankrupt leaving the british government to ferry tens of thousands back home. to one of its subsidiaries profitable german. has applied for a government bridging loan can it really survive on its own. and we'll show you a proposal to cut back on c o 2 in the construction industry engineers in nigeria figuring out how to turn a crop into cleaner. this is the business and. after the collapse of the world's oldest travel company thomas cook the tourism industry is worrying about ripple effects central to the war as is the company's german subsidiary condo or as well as the questions with the other financial failures. almost a day after the bankruptcy announcement by one of europe's largest travel operators thomas cook branded planes remained parked tourists stranded at airports still clueless as to how to get to their destinations or back home. we were told that all the lights canceled and there was no one. so we actually were told to go. their own 15000 holiday makers on thomas cook books travel have been flown home once the company went bankrupt many

business i'm going to office and berlin was the world's oldest travel company thomas koch collapsed after failing to secure a last minute bailout more than half a 1000000 people worldwide are currently on holiday with a group of u.k. authorities beginning an operation to bring customers stranded abroad back to britain it is unclear whether that program applies to non british holidaymakers as well. thomas cook holidaymakers in the spanish island of majorca wondering how they are going to get home. they just how disconnected they are very tense going down we should get more information. we're not too sure they still say. our flight is delayed to. one hour and passengers yet to begin their crypts looking for clarity. our customers passengers have a flight booked out from the u.k. today unfortunately your flight has been canceled don't go to the please don't go to the airport if you're overseas on a thomas cook holiday then you can continue to enjoy your holiday the cia is launching. this is the largest repression since the 2nd world war and we will be bringing harum everybody. back back to t

tourists however are not the only ones worried thomas koch casts book vacations for millions of customers every year and many disintegrations fear that some of them want to just rebook with different operators but might stay away. this bankruptcy will cost turmoil in the 2020 season and there will have to be serious analysis carried out until then. his motion this is a 7 rishta earthquake and we're waiting for the tsunami and you know that the tsunami is most of the time the one to bring the greatest disaster we're going to get to this for a. while travelers are concerned with the short term holiday plans the tourism industry worries about the future of thomas cook affiliate khon door and other players in the industry to see whether the latest bankruptcy will have any ripple effect. so how exactly did thomas cook get here let's take a look back it all began 178 years ago as a father and son outfit offering modest trips between english cities but it grew into a multi-billion dollar travel firm with global reach and $22000000.00 customers at the turn of the century the group expanded rapidl

and then along come the koch brothers.h, some of you have heard of the koch brothers, the giant oil companies, the big polluters, and they get together and, in effect, say, "wow, if congress get serious about climate change, that is going to bite into our bottom line. that is going to cut our profits seriously." so they have an investment decision to make. they could say, we can move from fossil fuels and go to clean, and they do not do that. they could decide to invest in all of the cleanup, how to pull carbon out of the air, how to clean up the water. they do not do that. you know what they invest in? politicians. they invest in washington to get the decisions changed, and oh, here is one of their biggest and earliest investments. they invest in scientists, so-called scientists, who deny climate science. let's think about that. why would they invest in the people who deny climate science? it is not because they do not understand it. no, they invest in it so they can develop an umbrella that people can hide under for deca

the sudden bankruptcy of british travel for thomas koch has shaken the travel industry smaller hotels and told us the nation's now facing a sudden of travelers at many cases unpaid bills leading some to reconsider the entire business model turkey is one of the country's heavily affected. thomas cook sunny logo will soon disappear from the sun connect resort. it's been a thomas cook branded hotel for 6 years but it's closing its doors this season a month earlier than usual and getting ready for major changes unfortunately. it's got. less customers. back to safety on their haws. takeout. and. our heart is broken the hotel is now looking for new business partners and many of its repeat guests from the united kingdom are concerned. i think that worries that the price is right up. to that it makes outreach of people that we can only come here the manager of the hotel is also worried thomas cook still owes the hotel 350000 pounds a debt that may never be repaid. get it and acknowledge that every day if you change the name what can be done to compensate for these payments previous experience