sweeney, if you could, please. the corrective notice that could be given, with the intent to add stairs, so they still could have accessibility to the deck, would that trigger anything in your world above and beyond anything approved over the counter? >> that sounds like an over the countier permit that could go through planning and building. >> yeah. obviously mr. jacobs has to come up and talk to this but -- >> why don't we do -- do you want to come up and answer that question? >> sorry, just one second. is there any additional public comment? sorry, had to take care of the public comment first. go ahead. >> this was a point of discussion with the planning department. the best way of moving forward. and the planning department -- our planner with advice from the z.a. wanted this to be treated as a single project, especially because there had been planning comment and the resolution of the decks was part of this major alteration. if we were to separate out this corrective action, access to the existing roof deck w

sweeney puts it perfectly, it seems every few months you contact someone different. there's just a lot of kicking the can down the street. nothing is getting done. most recently in april of 2017, which is just about the six-month period this was supposed to have been completed pursuant to this board's notice of decision, mary woods identified 19 problems with the plans. it was an attempt to correct that. in june 2017, the owner was told -- >> thank you. >> that's it? >> that's it. >> all right. thank you. >> three minutes. appreciate it. i think we will look into it. >> item h. adjournment -- >> mr. sweeney. >> we can't talk on public comment. >> we will bring this up at the next meeting. >> at the next abatement appeals board meeting? >> yes. >> item h, adjournment. >> since it's a previous case and we had a question on it, i would like to have a staff response at the next abatement appeals. >> okay. >> item h, adjournment. is there a motion to adjourn? >> yes. >> so moved. >> is there a second? >> second. >> okay. are all in favor to adjourn? >> aye. >> we will now

ed sweeney, deputy director. i'm here to speak mostly about vacant store fronts and also touch on the vacant buildings, which i think you are much more familiar with since it's been with us since 2014. the definition of what is vacant, according to section 103a.4.1, a building shall be defined as vacant or abandoned if it is unoccupied or unsecured. is unoccupied and secured by boarding or similar means. is unoccupied and has multiple code violations or unoccupied over 30 days. a building which is partially unoccupied and cited for blight under chapter 80. also shall be deemed a vacant or abandoned building that is subject to this section. commercial residential programs. legislation for commercial is ordinance 182/14 for the residential. it's ordinance 194/04. the commercial came into effect in 2014. residential came in 2009. the annual fees are the same. the difference being that once we establish a vacant commercial, there's a hold of 9 months. that is to give the person time to lease. these leasing aren't lik

as well as paul sweeney, art hogan, and erik gordon.f the foxtail -- pulling out of the fox deal. this is bloomberg. ♪ jon: from new york city for our viewers worldwide, i am jonathan ferro. this is the countdown to the open. ♪ currencyng up, china's slumping to a one year low, the central bank showing little sign of stepping in. trade is pushing below. playing the trade blame game, lowering on significant headwinds. future is looking like this, down nine points, up by one third of 1%. the dollar showing strength. and atllar down treasuries are stable with yields at 287. we begin the program and united states with the top story, comcast surrendering to disney. let's could the taylor riggs. longer comcast is no going to compete with disney for the big chunk of the 21st century fox entertainment assets. comcast will focus on winning control of the pay tv

change issues as the role of sweden's climate minister and all the politicians seem to be saying sweeney's are a lot to become more bad for this because it's becoming more common this summer has been extremely hot and that coupled with an act of rain just means that the vast arse the country has. very trying to wildfires spreading quickly and how close have they come to populated areas well the prayers of the firefighters at the moment is to try and keep them away from populated areas and they see concentrated around the central regions a c. then and there have been a few villages where people have been ordered to evacuate and leave the hames at the moment i think that's affected between three hundred to five hundred people say in each case a few dozen households perhaps and they've been told to leave their homes but it's not come close to the major cities in a serious way and have those italian firefighting flames made much of a difference briefly if you. yes it does seem like that at the moment somebody has the study to make you buy me control even when but how good talking to you thank

paul sweeney has seen this across many different industries before.y two and three question, is this a sign of things to come for the other faang stocks? the revenue growth is still there, but the path has changed. will we see that with company a, b, c? paul: i think the underlying digital advertising environment remains strong. tom: we saw that with google. paul: that is where consumers are spending more time and that is where the advertisers will follow bid there are the -- follow. there are specific things with facebook, revenue slowing it expenses are rising. we are looking for a big margin hit over the next couple years. they were looking from it 40's, now talking about margins declining into the mid to high 30's range, so that is a significant reset and profitability. tom: 700 basis point decline in the margins. paul: now the question is, you cannot call it a short-term blip, so where do you position? tom: those of us with gray hair remember this going back to jobs. will we see zuckerberg go back to himself seven or eight years from now? paul: h

>>'s name is tim sweeney -- his name is tim sweeney. he is from outside of raleigh, north carolina.considered a legend in the industry. he started the company out of his parents' basement and it has become a very respected business in the gaming industry. vonnie: operating margins north of the 50%, how does that even happen? >> it is a videogame which is free, pretty much people, they ruled it out quickly. it comes one season after another. a lot of people come on and revenues come from actually, the gamers buy virtual currency, which is then exchange for items in the fortnight shop -- in the fortnite shop. people shell out for outfits and dances. vonnie: at one point i did watch all those dances on my computer to see what they were like. what a waste of time. thank you. have a look at the story on your bloomberg. from new york, this is bloomberg. ♪ >> it is 11:00 in new york, and a.m. 11:00 p.m. in hong kong. 30 minutes after the trading day. from european headquarters, i'm mark barton. vonnie: and from new york i am , vonnie quinn. this is "the european close." mark: here are the

if there's anything else to add. >> my name is charles sweeney. soast night i got a phone cl about low water pressure in our zone. talking over the phone we did some troubleshooting. that troubleshooting, identified that valve was incorrectly -- >> all right. you are watching live an update on theoil water advisory in d.c. that's affecting well ove 30,000 people across northwest and northeast. they've closed the spoly parks and in these areas to at the earliest they may lt this advisory by tomorrow morning. >> and of course the city taking some questionshere on exactly how soon they were able to get the word out to fks about what's going on. but they have had a massive undertaking in trying to get water fountains and trying to get notices a around to public areas and on a busy friday with so manyisitors in town as well residents impacte by this. >> we heard them -- >> pools, spray parks, all oth in those affected areas. some of them closed. some with p notices up about this. >> we learned they are sending schoolswater to summer and camp sites in t

we're going to join now by paul sweeney. what is the strategy on the part of amazon?ey over the course of 36 hours, but is are something behind it? amazon can get revenue throughout the year. it does not need to do this type of event. >> i think it may be about leveraging a fixed cost. if you think about what amazon has done in 10 years, they have built a tremendous infrastructure in the u.s. and other parts of the world, particularly with fulfillment centers industry vision centers in the u.s. in the summer months, there's a retaile lull in terms of sales and maybe people are spending money on vacations are not necessarily buying things. here's a way to gin up a lot of traffic to leverage across that fixed investment base of fulfillment centers and distribution. i think that may be part of it. the other thing may be they have inn what alibaba has done china with singles' day, which has become such a huge driver of retail sales. it is also helped raise the profile in general. i think amazon wants to get a little bit of that by kind of branding a prime day post up they

twitter, we hear from paul sweeney earlier. the first look we got is at one cent.coming out. the idea of monthly users missing their estimate. i'm not saying they would do a facebook but that's not a good way to get the twitter ballet started. excuse me for looking down. i'm looking at the terminal flow coming out. that comes in a little light. the sub headline, the average users missed estimate. they see this as an important headline. we see further him a you decline in the third order. for those of you on bloomberg radio, twitter down 11.2%. his is the idea of getting out. twitter has communicated their battles a lot better than facebook has. they were really talking up this idea negative indication. they were clear on that. there's the first headline. they were really talking up this twitter projects users to decline, profit short of estimates. nejra: interesting numbers coming through. certainly, when it comes to facebook, i want to go back to what we're talking about earlier. how do you deal with being wrong? are you actively looking for the big eight short --

new jersey president steve sweeney is with us. we'll see how that works out.en you book direct at choicehotels.com you always get the lowest price on our rooms, guaranteed? let's say it in a really low voice. carl? lowest price, guaranteed. just stick with badda book. badda boom. book now at choicehotels.com ♪ liz: last hour our own judge napolitano talked about the legal gray area of attorney/client privilege after president trump's outraged tweet about michael cohen recording their conversations. let's take a listen. >> this is where it gets a little sticky. when i went to law school 100 years ago the attorney/client privilege was absolute, no matter what the lawyer and talked about, it could not be revealed without the client's consent. there are, there is exception to that. there are a number. only one relevant here. called the crime fraud exception. if the attorney and the client are discussing the commission of a crime, not one that has been committed but one going to be committed, there's no privilege. if the attorney and the client are discussing the c

bloomberg's paul sweeney, romaine bostick, and lucas shaw.se shares trading sharply lower in response to earnings in the after-hours session, down by almost 13%, after just about doubling this year. this is bloomberg. ♪ julie: "what'd you miss?" let's look at what the week this in that -- weakness in netflix shares means for the market. rob is joining us from newport beach, california. netflix shares continue to decline by about 13%. great to see you. thank you for joining us. we were just talking about netflix and its importance to the momentum story. troubles herets are also going to spell trouble for other momentum stocks? rob: of course there is a distinct risk of ripple effect. i published a piece a few months ago entitled "it's a bubble: so what?" in that paper, we talked firstly about the definition of the word bubble. people use the word left and right without bothering to define it. secondly, we point out some areas in which the market is frothy enough to be characterized as a bubble. thirdly, we offer some advice on what to do about

scarlet: as we await alphabet's results, due out in moments, let's bring in paul sweeney, intelligencetor of north american research to give us more context. we were just noticing in the blog that alphabet has been, seeing declines after its last two earnings report because of concerns regarding its spending. why is it that investors are punishing a company like alphabet for spending when they have, the question of profitability is not an issue for them? company, thes spending as a couple of areas that investors are focusing on. acquisitionriber costs, the cost to get subscribers on to google. that number has been increasing is increasing, driven by the fact that more traffic is going to mobile, so google has to share more revenue with the traffic acquisition folks at apple and android and others. that is a big issue for margins in the near term. the fact the top line continues to grow so dramatically guess -- julie: i'm going to interrupt you. scarlet: second-quarter revenue. let's go to eps, $4.54 for alphabet. $26.24ond number was billion. analysts were looking for $25.6 billion. th

it's just it just we need to see how they come out weapons might have a difficult game against mr sweeney there because maturity really nice have to dig in and help the same parasitic could be dangerous because it doesn't provide that same kind of defensive cover yeah yeah. and yes we actually never really talked on this show about the guy down here next to me. who is michael. i mean i don't think anyone really knew he was going to sort of the really new. i mean he was coaching in the saudi arabian league eight years ago. he was fired from that job and ended up working in the united arab emirates immediately before getting the crisis job with. and in. not an obvious calling card for a chrysler job and you know used is done such a fine job but then i mean i think usually in a tournament it's a player that's the breakout star you know we saw in the last one with imus rodrigo's but you have to say this time it could be a coach. yeah he's really impressed or definitely when you consider you know what the coach is really responsible for right you not teaching any kind of skills to the players

[laughter] david: paul sweeney a bloomberg intelligence, thank you for being with us., a trio of central banks will be out with numbers next week. this is bloomberg. ♪ ♪ >> this is "bloomberg daybreak. mark posted second-quarter results that beat estimates. one big reason was his cancer treatment. went from 90%rug from a year ago. kkr is considering whether to buy young china. the firm is talking to banks about financing a possible deal. yum china operates kfc restaurants on the mainland. bp has agreed to make its biggest acquisition in almost two decades. the energy company will pay $10.5 billion. that includes the price permian basis, the fastest growing oil region. david: this week, it has been about tech earnings in u.s. gdp numbers. next week, central banks will take stage -- will take center stage. guests.to our you, let's start with showing you what is going on jgb. the 10-year japanese there was speculation that the bank of japan might back off from some other loosening policies. overnight, they said, will buy them all. the bank of japan is trying to decide wha

we are joined by paul sweeney from bloomberg intelligence.t did not feel like there was that much that actually came out of it. paul: it was really a surprise. the market was anticipating they would suspend monyes at least temporarily pending the investigation and might want to get a bit of closure, but they chose not to and that illustrates the power and the influence that les has. we just had cowen downgrade them for what he describes as a huge overhang. he was talking about the fact that they have not taken any action. it may freeze the company and not allow it to move forward and might result in the merger with viacom but a lot of analysts don't think would be good for cbs. paul: the company is going to report earnings on thursday. and what is going on with les, he is so emblematic of the company, it is obviously an outside influence on the company stock. we have a whole issue with viacom -- we have the whole issue with viacom. cbs investors are not in favor of that merger unless they get an extremely favorable financial arrangement. ther

joining us to crunch the numbers is paul sweeney.ly that they did so badly or was it just that we had such high expectations? >> i think it is the latter. byis a stock driven subscriber metrics growth. investors focus on how many subscribers they at every quarter. that is the primary metric to drive the stock usually they beat expectation. occasionally every four or five quarters, they will miss on the net subscriber adds. the stock taking a pretty big hit earlier in the day but it is coming back. >> the yellow box is where it was posted be expectations and the bar not really reaching that. john: absolutely. and you were bang on when you the focuspreview on of subscribers. he also said it is very difficult for competitors to keep up with the success of spending by netflix. based on everything we have learned, is there more evidence of that or maybe less? slight miss on this, for the second and third quarter, the company continues to talk aggressively about the plans for particularly rick -- programming. original programming. it is by

>> paul sweeney, thank you so much for that. up, california -- immigration.eles mayor joining us with more on how the golden state is taking action. this is bloomberg. ♪ john: this is bloomberg markets. i am jon erlichman in toronto. shery ahn: i'm shery ahn in new york. a federal judge has temporarily halted deportations of families recently reunited after being separated at the border by the trump administration'zero-tolerance immigration policy. this comes as a federal judge in los angeles also dealt a blow, reaffirming california passes right to pass two of its three controversial sanctuary city laws. been on thest has frontlines of the heated immigration debate taking part in protests in its own city of los angeles and legislation efforts. joining us now is the democratic los angeles mayor eric garcetti. you for your time. first, your reaction to the court decision and what needs to be done next. >> thank you. great to be with you. the decision reaffirmed -- three aom selling on the ground -- broken system that this administration has taken a hammer to.

vonnie: paul sweeney, thank you. ceo of cme group joins us. that is up in a moment. this is bloomberg. ♪ from london, i am caroline hyde. vonnie: this is "bloomberg markets." cme markets reported before the bell today. second-quarter earnings beat analyst estimates. joining us now is terrence duffy, chairman and ceo of cme group. congratulations on the outlook. one of the biggest challenges facing cme right now for the next quarter? terrence: challenges that face quarter?e next we are all looking at cyber related issues. that is a problem that will never go away. it is an ongoing issue. of that, geopolitical is something we keep a close watch on. fs relievedse tarri yesterday between europe and the president was very helpful. hopefully that is in the rearview mirror. and if we can get the same effect with the asian community is that will give much more clarity for the next quarter for some people affected by those tariffs. vonnie: give us an update on the pending acquisition? how is the deal proceeding? terrence: we are so waiting for the regulatory approvals but we

tim sweeney made fortnite a phenomenon.etween the release of the original in september and may, it brought in $1.2 billion. victim game is now worth up to $8 billion and tim sweeney is the controlling shareholder. and that is your bloomberg business flash. newsa: we have breaking confirming a bloomberg report, the u.s. department of agriculture will offer $12 billion in aid to farmers affected by tariffs. the press call with the agricultural secretary will lay out the details of that. again, confirming that there will be $12 billion in aid for u.s. farmers from the usda. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. amanda: i'm amanda lang. we have breaking news. moments ago, a conference call with the agricultural secretary can from a $12 billion in aid for farmers affected by tariffs. after months of promises, some details will now emerge. we go to justin by telephone. start with whether there is any kind of discussion on the framework. there have been discussions about the outright purchase

. >> good afternoon, commissioners, ed sweeney, department services. the code enforcement and d.b.i. monthly update 2018 may building inspections performed 5,710. complaints received 435. complaint response has been 24-72 hours, 391. complaints with first notice of violation sent 83. complaints received and abated without n.o.v.197. abated complaints with notice of violations, 41. second notice of violation refer to code enforcement, 33. house unit inspection services, performed 1,049. complaints received 440. response 24-72 hours, 431. complaints with notice of violation issued, 153. abated complaints with n.o.v., 360. number of cases sent to director's hearing, 64. routine inspections, 180. code enforcement number of cases sent to director's hearing, 104. number of order of abatements issued, 26. number of cases under advisement 5. number of cases abated, 67. code enforcement inspections performed 362. number of cases referred to b.i.c. litigation committee, 2. and the number of cases referred to city attorney, 0. any questions? >> nope. seeing none.

. >> sweeney to enforce the rules we have on hand. >> step one is recognizing the problem and seeing that i think a lot of people feel this incredible sense of uncertainty and destabilization and we have a crisis of powerlessness. one of the sources with people feeling so out of power that they either check out of power and they don't vote or they choose to vote for somebody they may not agree with but it's just who cares how. it doesn't matter. i'm not connected to power anyway and once you understand it is a problem of power tha the can start looking at solutions that apply both in our history and future of. we are covering all the tools that were used up until 1981 which is when we stopped enforcing the law also saying we have new puzzles. the problem of the attack how do we deal with facebook and amazon and google that are similar to but not the same as the monopolies and the gilded age. i will give you an example of the monopoly crisis that we can all relate to. you may have heard about a farmer struggling that many people are eating corn and using soy products and if you think

we will be back with leigh droga n and the paul sweeney.one is also joining us from seattle as the head of global technology. joe: brad, what is your take on the earnings. -- earnings? brad: earnings is a 40% growth rate year-over-year. it is a sounding when you talk about a business with a more than $20 billion run rate. it is strong north american profit and a pretty impressive growth in the advertising business. maybe even signs of a whole foods prime rescue because, sequentially, the physical store business is up now. maybe a little bit of a topline myth, but a strong and growing business at scale. joe:leigh, you mentioned an ad business earlier. blogn is up on the according to olivia zaleski. how big do you think this could be and more importantly, are we lazy when we talk about the idea that these companies like google and facebook have a stranglehold on the internet that other companies cannot break into? leigh: i don't know if we are lazy, but because if you have a main street business -- because if you have a main street business,

welcome now nandini ramakrishnan, the jpmorgan global asset management strategist, and also paul sweeneyrector of north america research. they are still growing, they are still making money? paul: it is a little bit of both. call, the global earnings slow and revenue growth, and that is generally in mind of looking, ifreet was you look at consensus numbers. consensus numbers on revenue generally reflecting slowing growth. the issue that took people by surprise was the amount of cost increase in the duration of the higher costs, because that is leading guidance for operating generallyprofit margins from tt of the mid to high 30's. that is a major reset. david: i am so glad you mentioned that because the thing that jumped out at me is the headcount. over 37,000ing people in the course of a year. i cannot imagine that. yes, it is amazing, and they are ope opening offices around the world. this is a part due to what is the issues. they have mandated, they told congress we will do a better job with privacy and data security. a letter that will be done with technology sources, but a lot of tha

it is a great read about tim sweeney, the founder of this. the guy who became a computer guy early in his life. alix: in his parent -- david: in his parent's basement. jason: the is a bachelor who lives in this massive house. he has a corvette by the way. 2019. david: mine is 62. alix: as i brought up on television, you should see the cars david has. david: third story, a different kind of game, football. it is amazing, the spanish league which is very successful but cannot get as much money in the door. jason: the good news is they have overtaken -- as number two but still less than half of the revenue that the premier league brings in. but they arealdo, talking about, we may see some games in the united states as it still continues to become more popular in america. david: where does the money come from? is it television and media rights or is it stuff? jason: it is definitely merchandise. that is one of the compelling reasons to come to a huge consumer market like united si still plays mes in the league, obviously a very well-known player.

>> neil cavuto put steve sweeney on. the guy should be governor. he got bought out.g meaty hands. hi, i just benchpress rhode island. when you mess with this guy. neil: he did not say that. i will wring your neck, mr. governor. but really come you got to give it to china because that's a big difference. >> he obviously was concerned in the beginning about leaving the state and all of that. if you didn't have your hit show, you would be out. so what's going to keep people there? >> somebody has to run and take our state act. people walk up to me at the food show we are doing and appearance because my career is going great. the sponsor at the food show. more people came up to me and said, where is our new jersey? what is happening to our new jersey. they're becoming progressive socialist, becoming a socialist state. that is not new jersey. that is not -- neil: are you acting like a man of the people? >> i am a man of the people. that's what i yam. you and i should go after the bhutto piscopo -- piscopo caputo. we will do fundraisers. neil: what are republicans doing wh

>> in his own way my dog sweeney celebrated his 14th birthday yesterday.in my vocal booth. there he is. he is always in the vocal booth. he's -- and i swear if you were to isolate the vocal tracks you could hear him clip clopping around and he does this little swfft. he does this thing where it's not quite a sneeze, not quite a bark, but he's foofing all over my album. >> it's a hit. >> foof, the remix. he's there all the time. he's curled up at my feet for probably the last four records and so it's always good luck to have him there. >> producing credit or singing -- >> yeah, again, he's not watching, so he didn't hear that. >> you're going on tour with idina menzel. >> yes. [ cheers and applause ] >> karaoke with her and jesse tyler. did. >> go-to karaoke song? >> idina and i are big arts education advocates. we have foundations. we did this karaoke night for her foundation and my favorite songs are journey or pearl jam or anything that, you know, i need to, like, squeeze -- squeeze the -- you know -- >> the what? >> yes. >> we don't know. >> yeah, vocal

sweeney and abby joseph cohen on what alphabet and the rest of them brought. are observing. 30%, and the bottom line is scale has disappeared. technologists are really with this. google, amazon, facebook -- when they destroy our normal scale, what have they rot? >> incredible market share across their businesses. we look at the internet business which is dwarfing television at over $70 billion in the u.s. it is down to two players -- facebook and google. you take a look at e-commerce, who was the dominant player? amazon, because they can reinvest money. jeff bezos reinvested his business like no one else, a scale that no one else can build. you see the market share is that amazon has and how they can go with ther businesses drop of a hat. it's the scale we are seeing from some technology companies, and the next frontier will be the cloud. this, it'sou hear almost a generational shift from the return to scale that we all studied. does the government need to intervene? the concentration here of cash flows alone, does it demand government interference? >> clearly

>> for sweeney to admit it and confronted talk about it.s part of the frustration from yesterday. dagen: just want to raise the incredible interview chris wallace did with vladimir putin. they essentially said that hacked e-mails from the clinton campaign, he said it was all true. which was just astonishing. everyone sitting at home i think their mouths fell open when he admitted it. >> of course we are not surprised. we know that. it is good to hear from him. you can also see that we will do this again. maria: you think the president was not tough enough in the press conference because he feels admitting that russia is a bad actor puts him in a corner because the left has positioned that there was collusion even though we haven't seen any evidence of it? >> this is a president that never gets backed into a corner. as part of who he is. he will say what needs to be said no matter what. maria: let me switch gears and ask about china. u.s. filing a complaint with the u.s. trade now. the latest stage in tit-for-tat retaliation prompted by pres