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May 31, 2014
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none other than former microsoft ceo steve ballmer. that $2 billion price tag though is still not a done deal. the embattled owner donald sterling could still fight the sale. but it seems the new past time for the very rich is buying sports teams. robert frank takes a look at whether sports franchises are becoming a new collectible for billionaires. >> reporter: call it billionaire inflation. the prices of things that billionaires really want are soaring. sports teams may be their h hottest new status symbol. steve ballmer, former ceo, has bid to buy it for $2 billion. he is obsessed he says with basketball, and needs something to do. he as $18 billion. >> ultimately, $2 billion was the price steve ballmer had to pay because this was a very competitive bidding process and he knew if he came in low he would not win this team. >> now if this deal happens it will underscore a fundamental shift in sports. sports teams have become more like collectibles, driven by the money and desires of today's billionaires. basically they're more like pi
none other than former microsoft ceo steve ballmer. that $2 billion price tag though is still not a done deal. the embattled owner donald sterling could still fight the sale. but it seems the new past time for the very rich is buying sports teams. robert frank takes a look at whether sports franchises are becoming a new collectible for billionaires. >> reporter: call it billionaire inflation. the prices of things that billionaires really want are soaring. sports teams may be their h...
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May 1, 2014
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for "nightly business report," i'm steve liesman. >>> and chief economic adviser at allions. mohammed, good to have you back with us. i want to get your reaction to a couple of things. you have the economy basically flat in the first quarter. you have the fed pulling back on its stimulus, something that worried investors, and yet the dow sets an all-time high. whats not computing, if anything. >>> so tyler, think of it this way, the fed is on auto pilot. we know what they will do, reduce by 10 billion at every meeting, and they will keep the interest rates low and continue to encourage us that interest rates will stay low for a long time. so the fed is predictable. markets like that. the markets also look at the economy and say yes, we had a weak gdp number, but as steve and susie said, we had a good barometer number. so put these two things together and what the markets see is basically a range-bound outlook. the lower volatile range-bound outlook. what it does is encourage the market to leverage and reach for yield and return and pushes both the bond market and the equity m
for "nightly business report," i'm steve liesman. >>> and chief economic adviser at allions. mohammed, good to have you back with us. i want to get your reaction to a couple of things. you have the economy basically flat in the first quarter. you have the fed pulling back on its stimulus, something that worried investors, and yet the dow sets an all-time high. whats not computing, if anything. >>> so tyler, think of it this way, the fed is on auto pilot. we know what...
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May 28, 2014
05/14
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for "nightly business report," i'm steve leesman. >>> just when you got used to a whole vocabulary o-- >> now we have term repot. >> i'm going to audit his report after that. >>> i'm tyler mathisen, thank you for joining us. have a great evening, everybody. we hope to see you back here tomorrow night. >>> tonight on "revolutionaries." >> marketing and technology are two sides of the same coin, and every, every new product and revolutionary product requires some sort of evangelism. ♪ >> regis mckenna is a pioneer and high-tech marketing in silicon valley. his work at apple and other legendary companies brought information-aged marketing to the masses. john markoff of the "new york times" talks with regis about his career, his work and his relationships with revolutionaries ike apple's steve jobs. major funding for "revolutionaries" is provided by the intel corporation. >>> when i was a young reporter, starting out in silicon valley, which for me was the 1970s, regis
for "nightly business report," i'm steve leesman. >>> just when you got used to a whole vocabulary o-- >> now we have term repot. >> i'm going to audit his report after that. >>> i'm tyler mathisen, thank you for joining us. have a great evening, everybody. we hope to see you back here tomorrow night. >>> tonight on "revolutionaries." >> marketing and technology are two sides of the same coin, and every, every new product and...
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May 28, 2014
05/14
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for "nightly business report," i'm steve leesman. >>> just when you got used to a whole vocabulary o-- >> now we have term repot. >> i'm going to audit his report after that. >>> i'm tyler mathisen, thank you for joining us. have a great evening, everybody. we hope to see you back here tomorrow night. >> the following kqed production was produced in high definition. [ ♪music ] >> this is kathak, an indian dance form. >> chitresh das: it's a magician! >> kathak master pandit chitresh das shares the secrets of his ancient art form. >> chitresh das: i call it meditation in motion. >> mark jackson: kain dies ... >> in the last few years mark jackson has invigorated bay area theatre with his plays and direction. >> mark jackson: theater seems to me the most contemporary art in that it's literally in the present moment. >> and midori performs in san francisco. francisco. this time on spark. [ ♪music ] major funding for spark is provided by the william and flora hewlett foundation, supporting cat
for "nightly business report," i'm steve leesman. >>> just when you got used to a whole vocabulary o-- >> now we have term repot. >> i'm going to audit his report after that. >>> i'm tyler mathisen, thank you for joining us. have a great evening, everybody. we hope to see you back here tomorrow night. >> the following kqed production was produced in high definition. [ ♪music ] >> this is kathak, an indian dance form. >> chitresh das:...
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May 15, 2014
05/14
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steve liesman explains. >>> once upon a time, america was a manufacturing powerhouse. about one in every three american jobs was on the factory floor. but beginning sometime around the end of the korean war services started to take over, now, just one in every ten americans is in manufacturing. yet, the government stuck to the old ways of measuring the economy. that is slowly changing. this year, they re-vamped the numbers to take account in the survey. 35% of the activity before, it is now 75% and should do a job of pinpointing inflationary pressures, the two times the index has been published including today it shows expectations well above the expectations. that is making former fed chair alan greenspan nervous. >> the presumption that it is -- no longer on the horizon, i think is a mistake. >> to be sure, these are producer prices. and they often don't get passed along one for one to consumers. but if inflation is going to start it is likely to be picked up first in wholesale prices. maybe especially now that it covers more of the u.s. economy. for "nightly busines
steve liesman explains. >>> once upon a time, america was a manufacturing powerhouse. about one in every three american jobs was on the factory floor. but beginning sometime around the end of the korean war services started to take over, now, just one in every ten americans is in manufacturing. yet, the government stuck to the old ways of measuring the economy. that is slowly changing. this year, they re-vamped the numbers to take account in the survey. 35% of the activity before, it...
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May 16, 2014
05/14
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steve liesman has more. >> reporter: funny thing happened on the way to the year that interest rates were supposed to march higher. they went lower, much lower, some are doing an about-face so they can keep going down from here. the cycle below 2 and a half percent for much of the day, a place it has not been since 2013, and some think the rates could fall further. it was the economy, first, with a strong improvement in jobless claims offset by weaker manufacturing report. the housing data, meanwhile, continues to be weak. the upshot the economy might have contracted in the first quarter, while looking for a decent rebound in the second quarter, the first quarter expected to be a small 1.6%, mostly it was a bet on smaller growth this year and higher under-pinning for higher rates. second, central banks are still easy and getting easier, the european central bank is expected to ease in june. the u.s. fed is reducing bond purchases but still buying, helping to drive down rates. long-term yields have been coming down for 30 years. some experts believe they will fall further because the
steve liesman has more. >> reporter: funny thing happened on the way to the year that interest rates were supposed to march higher. they went lower, much lower, some are doing an about-face so they can keep going down from here. the cycle below 2 and a half percent for much of the day, a place it has not been since 2013, and some think the rates could fall further. it was the economy, first, with a strong improvement in jobless claims offset by weaker manufacturing report. the housing...
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May 20, 2014
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for "nightly business report," i'm steve leisman. >> i gotten in of them right. not one. we 23450ed to hire researchers. >> that's it for the "business report tonight." thanks for watching. >> i'm tyler mathieson. an economic dunce. have a great evening, everybody. we'll see you back here tomorrow night. . >> welcome to "film school shorts" -- a showcase of the most exciting new talent from across the country. experience the future of film, next on "film school shorts." "film school shorts" is made possible by a grant from maurice kanbar, celebrating the vitality and power of the moving image, and by the members of kqed. >> [ suspenseful music plays ]
for "nightly business report," i'm steve leisman. >> i gotten in of them right. not one. we 23450ed to hire researchers. >> that's it for the "business report tonight." thanks for watching. >> i'm tyler mathieson. an economic dunce. have a great evening, everybody. we'll see you back here tomorrow night. . >> welcome to "film school shorts" -- a showcase of the most exciting new talent from across the country....
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May 20, 2014
05/14
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for "nightly business report," i'm steve leisman. >> i gotten in of them right. not one. we 23450ed to hire researchers. >> that's it for the "business report tonight." thanks for watching. >> i'm tyler mathieson. an economic dunce. have a great evening, everybody. we'll see you back here tomorrow night. . [music plays] [captioning made possible by friends of nci]
for "nightly business report," i'm steve leisman. >> i gotten in of them right. not one. we 23450ed to hire researchers. >> that's it for the "business report tonight." thanks for watching. >> i'm tyler mathieson. an economic dunce. have a great evening, everybody. we'll see you back here tomorrow night. . [music plays] [captioning made possible by friends of nci]
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May 10, 2014
05/14
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. >> all right, be honest now, would steve jobs do this deal? >> i tend to doubt it, tyler. i believe this is the type of deal in the last year or two where it seems apple lost its kind of cache brand perspective even from a product perspective. we believe that is why they are kind of consideration a transaction. when you think about apple and beats, what apple has been doing the last year, they hired the former ceo of yves st. laurent, and the former ceo of burberry. so they're trying to get the company letter aligned with luxury clients and greater visibility across celebrities. them and i believe beats helps them do that. >> susie and i are available for a lot less than $3 billion. >> you should get in touch with them. >>> so scott a lot of people are watching apple stock trying to wonder what is the best thing. it crossed over $6 million this week, everybody was so excited. it pulled back a little bit. there is a developer conference coming up next month. will anything come out of that whether it is an iphone or a new product that amps up the stock? >> right, the way we
. >> all right, be honest now, would steve jobs do this deal? >> i tend to doubt it, tyler. i believe this is the type of deal in the last year or two where it seems apple lost its kind of cache brand perspective even from a product perspective. we believe that is why they are kind of consideration a transaction. when you think about apple and beats, what apple has been doing the last year, they hired the former ceo of yves st. laurent, and the former ceo of burberry. so they're...
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May 22, 2014
05/14
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steve liesman has more. >> reporter: it is not every day that economist's theories are seen as so important as to be discussed at the federal reserve. but the minutes of the april meeting released today showed that the interests of president obama's top economic adviser sparked a long and lively discussion at the fed and they were rejected. they argued the 3.4 million americans unemployed long-term 27 weeks or longer are mostly not coming back to work. >> the evidence suggests that they exerted relatively little pressure on the labor market. many of them sadly give up searching for a job and eventually withdraw from the labor force. >> as a result, the long-term employment rate doesn't keep the feds low, forcing the fed to raise rates higher and faster than markets now think. >> i any the longer people are -- i think the longer people are unemployed, the more challenges they face. employers are less likely to have them come in for an interview, they get disengaged. >> they express skepticism about the work, citing both the long-term and short-term unemployed. the fed believes that because t
steve liesman has more. >> reporter: it is not every day that economist's theories are seen as so important as to be discussed at the federal reserve. but the minutes of the april meeting released today showed that the interests of president obama's top economic adviser sparked a long and lively discussion at the fed and they were rejected. they argued the 3.4 million americans unemployed long-term 27 weeks or longer are mostly not coming back to work. >> the evidence suggests that...
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May 30, 2014
05/14
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steve liesman has more. decline actually caused economists to be more optimistic in the second quarter, on average they raised their forecast on the current quarter to a strong 3.7%, the reason? the negative number appears to be mostly the result of tough winter weather, the downward numbers came because of much lower inventory. turns out businesses kept a lot less stock on their shelves in the first quarter and they have to restock now. >> part of that negative is the weather, to be sure. but if you think about what the bounceback will be in the second quarter you still have a growth rate of less than 2%, so i think that is a disappointment of what people were thinking before. >> a big drop in unemployment insurance claims reported today to just 300,000. bolsters the bull's case for the strike and the economy. the bigger question being debated what happens after the bounceback andcxw the decline in-year-old in-year-old -- in yields for the u.s. government debt has some believing that the bond market is stif
steve liesman has more. decline actually caused economists to be more optimistic in the second quarter, on average they raised their forecast on the current quarter to a strong 3.7%, the reason? the negative number appears to be mostly the result of tough winter weather, the downward numbers came because of much lower inventory. turns out businesses kept a lot less stock on their shelves in the first quarter and they have to restock now. >> part of that negative is the weather, to be...
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May 17, 2014
05/14
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scott, particularly in the 16th assembly district race where labor groups have been hammering hard at steve glacier who wanted to campaign. >> he's an ally of jerry brown. he really made a name for himself during the bart strike. he have at the bart stations and having people sign petitions opposing strikes for public workers especially transit workers. that really helped to elevate his profile. he's getting a lot of support from labor. i think labor sees this as real must win in a sense. you have this candidate, a democrat, who is getting a lot of attention and money and votes by posing labor. i think they say that as very ri risky. >> that bart strike was old style labor. it would be interesting. it could be interesting see how that affects. >> absolutely. the field poll last year even here in the bay area support in the democratic bastion of california for labor much lower than it was. i think he's got an issue, he's holding onto it and we'll see how it plays out in the first round of voting in june. can't scramble the dynamics within the democratic party. >> there's chance that the repu
scott, particularly in the 16th assembly district race where labor groups have been hammering hard at steve glacier who wanted to campaign. >> he's an ally of jerry brown. he really made a name for himself during the bart strike. he have at the bart stations and having people sign petitions opposing strikes for public workers especially transit workers. that really helped to elevate his profile. he's getting a lot of support from labor. i think labor sees this as real must win in a sense....
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May 8, 2014
05/14
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steve liesman has our report. >> reporter: fed chair janet yellen's testimony before congress' joint economic committee today blamed the first quarter's economic weakness solidly on the harsh winter weather saying she already sees a rebound in spending and production in the first month of the spring. and that leads her to be optimistic about growth this year. >> looking ahead, i expect that economic activity will expand at a somewhat faster pace this year than it did last year. that the unemployment rate will continue to decline gradually, and that inflation will begin to move up toward 2%. >> reporter: behind yellin's optimism she sees less fiscal restraint, that is, a small er decline in government spending, gains in home prices and equity leading to increased spending, increasing confidence among business and consumers. yellin cited geopolitical tensions and possible financial stability in emerging markets as the biggest risks to her forecast. she's also clearly concerned about recent housing weakness, suggesting it's a serious risk to the fed's outlook. the new fed chair, though,
steve liesman has our report. >> reporter: fed chair janet yellen's testimony before congress' joint economic committee today blamed the first quarter's economic weakness solidly on the harsh winter weather saying she already sees a rebound in spending and production in the first month of the spring. and that leads her to be optimistic about growth this year. >> looking ahead, i expect that economic activity will expand at a somewhat faster pace this year than it did last year. that...