tv Taking Stock With Pimm Fox Bloomberg September 9, 2014 5:00pm-6:01pm EDT
what keeps them shopping? waters is our guest. let's get the headlines. >> shares falling the most in two years, closing down 23%. they cut their price target for this talk -- for the stock to zero. and dropping its sponsorship after an elevator video emerged showing him punching his then fiancée unconscious. size thet yesterday ravens and suspended indefinitely by the nfl. apple has added a watch to its product arsenal. tim cook making the announcement near the company headquarters. they have wristbands that can be swapped out.
they can switch carriers and now they have the chance to do just that with the iphone 6. the other products perhaps even more intriguing. >> people will want to buy a new device. in a matter of days you have the money in your hand. >> what have you seen in terms of the prices being offered for older iphone 5's? $335 are offering up to for the 5s so there are a lot
that get more money than people think. >> you were there the presentation and you third about the resale value. does this bode well for a new, shiny hair, bigger phone with a sapphire glass front? >> it does. the watch does. the new phones are quite nice. i was able to compare them and they both fit in my pocket but i am a guy so my pockets are fairly large. the size question will be answered for users in one of two ways. do you want just the 4.7 inch screen or do you move up to the 5.5 because you get additional features. there's a bigger battery and stabilization. a bigger battery which is
longer-lasting. one of the other things we talk about this, go try it out to see which one you like. >> more people going with the expressingthey are an interest to purchase and that can help them sell a lot more phones. >> 100 50 million phones. that was the sales figure for last year. >> that is right. track to dore on that or more this year. >> you heard about the watch that apple is introducing. the price point is $350 so you turn an old iphone and it has to be unlocked. unlockedfer it to be but we can sell it as locked as well. there are buyers who will buy it locked but we are for it
unlocked. >> what about other apple products because there are ipods that used to double his little tiny watches. you used to have a clock face nano.he i tremendous demand overseas. many customers [inaudible] research is our telling us. >> can you give us detail about s youany apple iphone 5' were able to sell a season? >> we did 150,000 just in the 30 days following the announcement. we expect to do that more this year. >> based on what you saw today are you willing to ditch whatever electronic products is
non-apple that is attached to your body or wrist right now for new watch? the microwave oven, the whole deal. the watch is intriguing. my job onout wearing and it is interesting that this will do all of that, communicate with my phone. it is the kind of thing that could replace what is there in the market. it is not just a threat to job own and fit bit. garmin does a gangbuster business and the wearables spa ce. freeze thebe -- sales of competitors. >> i am a watch geek and what is interesting is not that apple
has something that will track your fitness but they chose down path thatown the replaces a wristwatch. people that where we watches for fashion are probably too fashion conscious to choose to have two things. what is this going to do to the watch collector that is also fitness conscious and in apple eight. does this mean that you're david -- daily driver becomes apple watch and maybe you're putting on your high and watch when you go out to dinner. the whole time thinking as soon as i get on -- home i want to put my watch on because i do not want to lose track of what i am tracking. that problem may be solved because the phone can do some trekking on its own. own.acking on its was talking to the
designer and i asked about thegning for fashion, all federation. -- iteration. edition.e called the he says it was a normal sleep challenging but it seems that they embrace this notion of being in the fashion business. >> it will be interesting. >> thanks for a much. hamiltonson and dave and here in the studio with me chris sullivan. he will take your used iphone. what is the chance of getting your progeny into an ivy league college? helped thousands of students crack the admissions code. makingn waters has been
counseling. >> this is a one-on-one process or a certain harsher -- part of it is. of aabout this idea guarantee and explained the potential fees as high as $600,000? >> we have a risk model where we an algorithm, we study the likelihood of a child getting to a particular school in weight price our moneyback guarantee fee based on the risk. the higher the risk, the more money it is. most of the time the price ranges from $10,000 to $25,000. really does that price go up to says article that $200,000. we need to compensate our risk by charging a premium. >> can you explain how your
background lead you to create think tank learning? in hedge funds and we used a statistical model to study risk. when i got into education i thought college admission seems really mysterious. if you talk to 1000 counselors everyone will tell you something different. i applied these statistical principles and studied students as a whole. anyone independent individual unique decision. this becomesll very objective. so our models are in -- will tell us whether the student should do sats or maybe improvement does not help that much.
there -- the pool that can tell the student what to do every step of the way? >> is this targeting a specific demographic, people that may not have a family history of attending a variety of colleges so the whole college application process is foreign to them? >> it is not. and yowe serve more asian studes because of the area. the model does not determined to follow any particular group. it works with all lesson this these -- fs cities. testu are talking about taking and guidance counseling. offer quality that you
better or any different than if you were to go to someone else or is it the algorithm and the scientific analysis that differentiates think tank learning? ax i used the analogy of doctor in the pharmacy. , all those are tools. you have to have a doctor tell you why you should take this. maybe you should use vitamin b and take vitamin a. you should take tylenol. algorithm suggesting what you should have. not all students need to be tutored. we have that in our service as an arm of tools to better the students. it is the combination of suggestion and guidance and some
help. competitors. other we are more like a guided missile. our weapons fire with a precision. >> tell us about the example of the $600,000 payment because you did end up returning some of it. >> the student was expelled from has previous high school so he was on the verge of dropping out met himsure if anyone at that time no one would be able to promise him anything. our model said we can help him but the risk was so high that we needed to charge an ultra suggestedd the model $700,000 with different risk from yams. returned $300,000.
because we were able to help and we were willing to help that student, that student has turned around. he is studying at syracuse university pulling a 3.8 gpa. he is turning his life around. >> thank you for sharing your story. steven mack -- joining us from san francisco. apple debuted a smart watch. we will ask what new technology and innovations there are professions. we will be desired -- introducing a designer next on "taking stock." ♪
>> a luxurious fabrics and enter it -- intricate design. she has transformed her name into a top-notch brand that is individuals as madonna, angelina jolie, and beyoncé. i want to introduce the designer . we have to go a little back in history to understand how you came to new york fashion week and it has to do with a tablecloth, doesn't it? >> yes, absolutely. >> tell me, tell everyone about this tablecloth and what magic you pulled off. >> when i was a young girl i had -- was a seamstress.
i took my mother's tablecloth and said let's cut it and make something out of it. it was an amazing dress and i went and everyone was raving about the stress that day. i decided i would become a fashion designer and two weeks later i came to new york city. >> it took two weeks. for it said ok, we'll go in that was it. >> where did this take place? rex i was born in beirut, lebanon. i had a business degree at that time so i was ready to start the next step. >> you star think step, how do you know what to design, what influences you? >> when i came i went to fashion in new york and paris. as far good foundation
as education. time to start my own company i said i will wing it. >> you said when the models walk out in front of the live audience, in this case yesterday at new york fashion week, you feel something in the air. you know instantly whether something is working or not. tommy what happened yesterday. >> that is true. text 8 a.m. nervous although i never show it but i know my feet are off the ground. i watched the first girl go out i knew we hit it. that is how it goes backstage. >> how would you describe your look to people that are not familiar, it shimmers, it moves, it is dynamic on the models. >> i am all about luxury.
collection close up you will know that everything is well done. enjoyed that luxurious part of the collection. there is an element that we will need always to be up to date. a commendation of old ad new, a vintage feeling and modern attitude. >> we have been talking about apple introducing a new watch and everyone wants to hear about wearable technology. do you support that? >> absolutely. when i was at f.i.t. somethingd to sketch the award.and i won
analysis right here on bloomberg tv. secretaryortation says there needs to be a war on aging infrastructure. >> when we have a country that is growing by 100 million people we will have to double the freight capacity in this country. we do not have a second to lose because it is cheaper to invest today than it will be tomorrow. >> he called on congress to come together and the issue because this country does not have democratic or republican roads or transit systems. jack lew is calling on congress to act against corporate tax and version. that is when a u.s. company acquires a foreign company so i can pay lower taxes. he said the ban on the practice should be retroactive. >> i made clear in a number of occasions that we need to connect legislation that is retroactive today. the reason is if companies rush to get this deal through should
it have a benefit -- they should not have a benefit from that rush to the finish line. >> he said and versions happening because the tax system is broken quest -- that is a look at the headlines. >> this is another logistics company. the price tag, 700 $50 million. thepurchase represents first foray into the u.s. market. here to tell us more and tell us about the international shipping market is our guest. how was that? tell people about the acquisition of jacobson. >> it is a $7 billion business.
europe withder in strong french roots as you can hear from my accident. we have -- we are able to sell the u.s. market with a business and that is doing well. >> the purchase will was from oak hill partners. has the deal closed? you have stated that the acquisition is accretive. why in the u.s., what did you want to make this acquisition now? >> why not. up was going global. when.s. market is logical
it goes -- comes to the strategic plan. perfect reach. >> tell us about the supply chain, especially about the warehouses and the ability to get things through the door. it is not rocket science. we are getting added value. the way that we are doing business makes them more efficient. we are part of their core value. >> what is an example of something you could not do five years ago. -- started in spain and i can imagine where able to start something in the u.s.. those are -- that is e-commerce.
where are the leader in europe and we should be the leader in the u.s. >> we talk about something called the 3pl. word.is a technical transport. about >> when you talk about trucks you have to ask yourself about the drivers. is there is shortage -- a shortage of qualified drivers? >> it is a difficult market but we are experienced in europe. we have strong roots in the transport business. about logistics we mention things like enter mobile traffic. -- intermodal traffic. what are you doing there? >> in europe it is not such a big deal but typically we are
able to [indiscernible] i can't imagine doing something come peer bowl in the u.s. u.s..parable in the what about packages that are high in value but small in volume. key to the value of our customers. >> people can see what you deliver. >> i hope it will become , americano the u.s. people. >> thank you for spending time with me. the chief executive officer. was john waters what he thinks of independent films and what it means to really be rich. a conversation next with john
>> john waters grew up in baltimore suburbs and has earned cult status as a writer and director. the lincoln center is celebrating 50 years of his work in a retrospective. financing,bout filth, and the enduring film hairspray. >> i snuck in all my ideas and middle america did not notice and it is playing in every high school in america. flamingos"?t "pink
>> it is still the filthiest movie ever made but it makes people laugh. when you are together watching it it makes a wonderful experience. if you see it alone that idiom during jury duty it is obscene. >> what makes something filthy or trashy? >> trashy is best when you do not realize you're making trash like "showgirls." satirizing genres. should not have gone to school. you go to school to figure out what you want to do. i wanted to be the filthiest person alive. no one was going to allow me to do that in the mid-60's. i got thrown out on a pot bust. marijuana made me go to movies
and see them in a different way so i am not sure that where one was bad for me. i thought it was pretty but for me. onhought up "flamingoes" marijuana. my father was very conservative. each time i would pay him back with interest and he was shocked i would take him out on the road and go to different cities and rent theaters. he did give me respect for that. he wished i had a different product but my father gave me my work ethic. >> your mother reported that when she attended the broadway musical hairspray she met harvey fierstein's mother and she wept because they said what grade boys we have produced. ndowhen my mother saw "mo trasho" after we were arrested conductiracy to
conspiracy. in the courtroom where i was tried. when i escape in drag in a cops could not find me. >> tell me about your movies. >> he has sex with himself, we shot it with a double. is ithleen turner, what like working with her? wreck she has a great sense of humor. she is the ultimate throw. when you have an ultimate pro working with you everyone does their best. >> you recently made a trip.country
>> the worst that i -- can killed by awas killer who chose to rectors. i had great people pick me up. people were kind and most people thought it was a homeless man. >> you turned it into a book. you're more than just a filmmaker. you described yourself as a writer. >> you wrote -- i wrote all my movies in my spoken word show. everything i have ever done i have written. >> as part of the society of , theyn center festival are showing the 8mm and 16mm films.
the image was so strong that my film looked like is a printer -- zapruder film. burned intos everybody's memory. this kind of images challenge me to think how can we put them in a different context to make something that surprises people. >> there are films in the film festival that you have selected. films that you wish you had made. >> that i am jealous i did not make. the best rap movie ever. is beingstination" shown in the lincoln center. >> could you be an indie
filmmaker today in the same way that you are -- you were rebellious when you're young? >> in the part of my career that i could do best is when i was starting out when the movies cost $5,000. that is what hollywood is looking for. the movies i was used to making was $5 million independent movies. i cannot be a faux underground film maker and 68. >> you have followed the careers of many film makers in getting at lincolnd be center. you also focused on the concept of celebrity. what is it like to be interested in the topic? >> i read seven newspapers every day. i am not against the press. i never understand why people people come and
say can i take a selfie with you? you but my apartment. my apartment. out that thent selfie is the ugliest angle. the only uglier picture is skype. never do porno on skype. people do that all the time. you look ugly on skype. it is shooting up. you do not want to be nude on camera with the camera shooting up. not over 20 years old. dowhat would you like to next, anything in particular? >> to be write a novel. i have written fiction because all my movies of fiction but i have never done it as a book which i probably will do next. >> you add to your book collection at home. walkibe what it's like to
into john waters' home in baltimore. >> i have books everywhere. and i like books. that is what being rich is. the only thing that is -- rich to me is that you can i every book you can -- you want without looking at the price tag and you never have to be around jerks. that is rich in a matter what kind of money you have. >> my thanks to the filmmaker john waters. you can catch his retrospective at lincoln center in new york city. continuing into the weekend. you will meet the president of hsn and find out why it is no longer your parents' shopping channel. how their egg move is happening in digital. and more digital, the show will have everything you need to know about apple's new products andluding the apple iwatch san apple paid. -- apple pay. only on bloomberg.
>> hsn is traditionally known as the home shopping network but the company is seeing rapid growth online and for its mobile sales. the president and thef marketing officer of parent company, hsn inc. you are here for fashion week onause a lot of the items go hsn. this is not just about television. te digitalcomple experience. >> ages and has moved beyond the channel. while many people think of us as a television network, we are a network of experiences across all platforms. we have transformed the business. 40% happen onto digital life
form with mobile as the fastest-growing channel. it equals $.50 -- a 50% increase. a seamless and frictionless experience for customers regardless of where they want to shop. experience of shopping using a mobile device or even a tablet or computer, is a different for you as the seller than it was when you just had the television outlet? >> absolutely. it gives us an opportunity to show a broader source meant -- assortment. it is about the convenience of shopping on our own terms so the idea that if she is at her son's soccer game the idea that on her phone she could be shopping there. what we have had to do is design our entire creative around the device.
you need the right size buttons and creator of the experience and that is another key driver for our digital growth going forward. the reduction line change, is it more heavily produced, is it more a design from an art director's point of view? >> everything we do isn't -- is designed from an art director's point of view. we do what we -- we take what we do seriously. how do we build deeper engagement with those consumers on digital so on mobile or a laptop or tablet we have original video content with additional storytelling for our customers. making it more fun and interesting way to shop. community is a key part of the hsn experience. many retailers are focused on transactions. i like to say it hsn, it is about a relationship that we are
building. how do we build engagement? we know that is about trust and content. about a unique experience that you cannot get anywhere else. any -- one of the things that we added that is doing well is the casual gaming platform. no other retailer has casual gaming. when our customers were not shopping she was playing casual games so how do we marry those experiences? it is fun and engaging and different. what the results have proven, she is spending more time and money at hsn since we provided that service. >> i am glad you mentioned games. i was just checking, serena williams is one of the variety of celebrities and sports stars that showcases your wares on hsn . her performance at the u.s. open has got to be good for you. tell us about her engagement with hsn? >> what a game for serena.
i've ran across town, i was at a fashion show he put on for serena and it was pretty spectacular. i met with her backstage before she went on and we were chatting with serena about the u.s. open. she wanted to chat about her passion for fashion and she said other than her day job her favorite thing in life is fashion. she has worked with us for five years. atput it online today hsn.com. serena will be coming down to florida on the 16th to release her fall collection and it is sports where with a little bit of edge. very much what she loves to wear in the weekends. it was a fast show. serena had ball. >> thank you. appreciate it. president obama will be addressing the nation tomorrow night. he will outline the white house
>> live from pier 3 in san francisco, welcome to "bloomberg west," where we focus on innovation, technology, and the future of business. i'm emily chang. over the next hour, we will have an in depth look at everything apple unveiled today. we will try to answer questions. , the ceo showed the long-awaited apple smart watch. >> apple is the most personal deviceha