Skip to main content

tv   Trending Business  Bloomberg  February 12, 2016 9:00pm-10:01pm EST

9:00 pm
announcer: "brilliant ideas," powered by hyundai motors. ♪ narrator: the contemporary art world is vibrant and booming as never before. it's a 21st century phenomenon, a global industry in its own right. "brilliant ideas" looks at the artists at the heart of this, artists with a unique power to astonish, provoke, and shock. to push boundaries, ask new questions, and see the world afresh. in this program, new york-based wangechi mutu. ♪
9:01 pm
narrator: this is the museum of and thert in atlanta opening of a major exposition. wangechi mutu is here as one of the world's leading african-born artist. here has workson both in a show that focused on women from east africa. they have this aquatic and terrestrial life. they are really powerful. ♪ the serpent is a sleeping sculpture. creature long, languid
9:02 pm
-- sort of beautifully laid on could be aal, it pedestal or fisherman's table. ♪ >> wangechi mutu makes beautiful art. her installations are very well carried out, and they have a real presence when you enter the space. the large snake in our exhibition, somehow she has managed to make it feel alive. definitely uses her background. she certainly is about being an african woman, but filtered through many things. the installations she makes, the sculpture, the film, the
9:03 pm
collage works, her entire world embodies her a static. static. ♪ i was born in nairobi in the 1970's, and the reason i came to york was primarily to study and pursue a more grown-up art. in spite of the fact that i u.k.,d in wales in the and am pretty far away from here, i realize the new york in the united states have these great institutions for our training and education. i applied and got into a few schools, so i decided to come to new york. ♪ whyechi: i'm not sure brooklyn is a center for other artists. i know i came to brooklyn to seek out a little bit of quiet, and certainly to find affordable
9:04 pm
space. more human inch scale, not too many high-rises, a lot of residential spaces and smaller cafés. it is probably what manhattan was like 50 years ago. in her brooklyn studio, she is working on another serpent. believe it or not, they are inspired by real animals. they are a common theme in her work. wangechi: we are in my sculpture studio. it is actually a manatee-like creature found in east africa, a big see cow. it is eaten. with thealso conflated
9:05 pm
mythology of the water women. i think that is a powerful mixing of narratives, that this w could turn into a human-like mermaid creature. it is harder to find people who talk about the mermaid the way they did in the past, as if it were just another character in the village walking around, this woman who we spotted yesterday night. don't talk to her. she is so beautiful. the power of that mythology intrigues me. my fabricator for serpents is a very young man. i think the thing that makes an artwork special is that at some point you realize that the parts of it that you are unable to make can be done by people who are extremely skilled but also understand the idea behind what
9:06 pm
you are trying to do. the skill that coast into making arounded object, almost like dress that fits around a woman's figure, is a lot more confiscated than one would imagine. this is the top, and that is the bottom. the sides are where the issue is , because you have to create a curve. wangechi: everything in the belly is all this junk mail that ishred and reuse it, so figured out a way to make it useful by putting it in here. it is ironically what i do with magazines and paintings. i cut them up and repurpose them and scattered them throughout the painting to turn them into another story and extend their life. version,s the 12-foot which is already quite large,
9:07 pm
but only a third of the size of the original one. ♪ work in a saw her little nonprofit gallery and brooklyn, some small pieces. it is one of these rare cases where i saw some modest works and just immediately said that this artist is the real thing. >> wangechi mutu emerged in the early 2000's and is one of the most inventive artists working with the idea of entity -- identity, critically from the view of the african gasper a -- the way african identity can play out in american culture. ♪ i do different things with these. this is hair braiding material, which is the center of so many african women's culture, the
9:08 pm
braiding of hair, fussing about with hair, wearing about hair, judging each other by our hair. i don't use it for hair braiding anymore, but i use it for painting, my sculptures and prints. narrator: after a decade living and working in brooklyn, she was asked to take part in a group show that she feels was a turning point. invited: in 2003, i was to a neck submission called "looking both ways." there were 12 of us in one exhibition who had an immigration story that brought us to either europe or the united states, and the show city forn new york the museum for african arts. narrator: next, her solo show in the u.s., a fantastic journey.
9:09 pm
9:10 pm
brooklyn is the center of so many universes in so many ways in the past decade, in terms of multiplicities of theunities, in terms of world traveling through, touching down here in some form or another, and i would say in
9:11 pm
that sense that wangechi is absolutely representative of brooklyn and is a brooklyn artist. 's first: wangechi mutu solar show, "a fantastic journey" came to the brooklyn museum in 2013. it was a popular one. >> she was always on the top of our list of artist to speak to feminism, social issues, social --itics, and the meaning of in the 21st century, and wangechi represents brooklyn, the world, the art world, and she makes work that speaks globally, and yet incorporates an incredible formal sophistication that people just love looking at. 's first: wangechi
9:12 pm
animation was commissioned for "a fantastic journey." fellowcreated with brooklyn artist, the singer igold. >> we love to take things, rework them, and put it in front of people. it becomes the linkage with which to finally understand something that they have never understood. ♪ >> it is this wonderful sci-fi dystopic creature, featuring this beautiful face moving to , this sensed eating
9:13 pm
of omnivorous appetite for things in the world. ♪ was this almost impossible in fourcreate a collage dimensions. it was making one of my collage pieces come to life. at some point as i was doing the storyboard and enjoying the idea film,ating an actual live i realize that it had to be a character, and so i affixed ahead to it and then it donned on me what this thing was and i as, andt to come across that is when i approached sant igold. >> the thing she became was a combination of her as a beautiful face and a lovely
9:14 pm
individual and transforming into thathideous monster eventually you realize is not even a monster. it is bigger than a monster. it is like a moon or a planet. ♪ wangechi: this creature which represents many things, including human evolution, but also consumption, greed, and industrialization, eats itself to an absolute oblivion. it combusts in its own filth, its own smoke. message, but the way she presents it is in the form of, i think, very persuasive art. sometimes what happens is you
9:15 pm
can can become too didactic, but in her best work i think that both the message and the one,ial and the image are and you are moved and you are -- ♪ narrator: not only an artist, but an activist. wangechi just started a movement supportingica out," gay and lesbians rights in africa. wangechi: the ambitions were about awareness raising, drumming up solidarity, so we had people standing behind lgbt folks in africa saying that we are with you, big-name celebrities, artists, wealthy people who buy art, and we are there and believe your lives are
9:16 pm
precious. ♪ wangechi: we figured out so much technologically in industry in terms of how we have become this global culture, and we still haven't come up with solutions for really basic things, and i think music and writing and film spells, these magnificent spells we are capable of creating through art, are actually what is going to slowly turn the dial. ♪
9:17 pm
9:18 pm
narrator: in 2015, wangechi mutu was invited to the venice be an
9:19 pm
alley -- her main show combined sculpture, animation, and collages. she also had a separate expedition in one of the cities galleries showing her painting collages, the works for which she has become best known. ♪ i think i'm slowly developing a technique that allows me to continue to work with fragmented images and to in wayshings together that are unusual and unexpected. ♪ the image of a woman bending over to plant something is actually so common that it is not even that interesting because i come from former people and a lot of women spend a lot of time bending over to put seeds in the ground or to pick plants, food out of the ground. , and it is gesture
9:20 pm
denied the attention it deserves, because we all survive on women's work and the bodies of women in motion have such a big part of why humans are here. grower is this extremely delicately put together figure of a woman holding a seat. i think the hand is from some magazine i have had from years with a glove on it, almost like a motorbike love, then her head has this embellishment with a serpent on it, and she doesn't have the right amount of legs. purpose ofeven the it, but eventually your eye puts the whole image together and you see a woman who looks like she is gardening or farming. ♪ wangechi: -- is a bit of a critique on a stereotype of a female or person in the tropics being this kind of garden of
9:21 pm
den kind of creature, a primal dancing blob. who knows what, because it is from brazil to jamaica to kenya. it is almost like you don't know what people are referring to when they think about the tropics and they think about tropical people. so this carmen miranda like gathering of food is also a day get that image. i think it has invented itself and people psyche, like josephine baker's banana skirt. how that became a believable image of an african female in the 1930's or 1940's in europe is fascinating to me, but it stuck, you know? in spite of the fact that i have a problem with the stereotypes, i tend to harvest the them for my own purposes to test them out in my work, so i also use these images as a way of kind of
9:22 pm
motivating a conversation about stereotypes. >> having a message, having meaning, in the art, that is what sets it apart. speaks to work people, and it is meaningful about the human condition today, about the state of women today. the statement is universal, and it goes beyond her own background to connect with basic truths about the human condition. ♪ narrator: women are the common focus of the three works that form wangechi's main installation in venice. wangechi: i have been interested that have women as a central character for a long time. this painting, "for bid in fruit picker," is the creation myth.
9:23 pm
eve in our culture is the maker of all creation. meanerpent always seems to the same thing, transformation, danger, and there is this wonderful relationship between the serpent and the woman, especially because i think women and counter snakes when they are farming, cleaning their homes, and village culture and so forth. ♪ wangechi: the sculpture is , "she has got the whole world in her." she is a female with a crown of ofrns, and she is in awe this globe, and this globe is in a way a metaphor for the earth. at the same time, this notion that that women have genetically , in their dna, have all of us in them. we are caring all humans and all that has ever happened within us
9:24 pm
somewhere, in our genetic this is a world , a symbol of people, culture, and matter, these little magic things that are the result of our nervous human existential energy, part of what she holds in her. ♪ wangechi: the film is the end of caring all, and essentially the story is that the burden on her head, which is a symbol of ofor, a symbol of the plight
9:25 pm
civilization, which is symbol of whatever yoution, see in it is becoming a bigger and bigger problem that she still has to carry. radio tower, a big tv disk, a kind of apartment building of sorts, an oil rig, all these things are carried on this woman's head, and at some point as she walks across this bucolic and beautiful sunset landscape, she falls over in , and in spite of that she continues to move. she crawls, and this thing has at this point become such an anomaly that it is not even these things that are related to man-made problems, it is something else. ands something that grows
9:26 pm
overflows and engulfs her. ♪ is ator: wangechi mutu highly successful artist, but alongside the exhibitions and gallery openings, she is determined to keep a popular touch. for her, art is not an elitist thing. wangechi: i love it. it is this wonderful establishment called sisters in brooklyn. it is a culturally powerful area. art not be something that you can relate to.
9:27 pm
why should it only relate to a small population of people who can afford art, so i think my thing is that i do think art ought to be a language that is spoken to a broader population of people who are actually interested in art. it is definitely becoming a more global thing. it is deathly something that a lot more people are interested in. so i think art should be something really moving for way more people than maybe artists want it to be. ♪
9:28 pm
announcer: "brilliant ideas," powered by hyundai motors. hyundai believes this is where your inspirations set you free.
9:29 pm
9:30 pm
♪ carol: welcome to "businessweek" on bloomberg television. i'm carol massar. summer redstone stepping aside from cbs and leaving a melodrama in his way. david: a company is betting hunters want high-end, high-functioning year. all that is we go behind the scenes of the latest issue of "businessweek" here on bloomberg television. ♪ carol: definitely a a lot of
9:31 pm
topical stories, but something that caught my attention has to do with amazon and their quest to rule the world. , an internalport report, but some folks have gotten hold of it and shared it. it looks like they want to be big in terms of delivery, so may be head-to-head with ups, fedex, owning the fulfillment space and internet globally. david: eager to see what happens with that. another great piece was about the canadian dollar. you have these teams taking in canadian dollars. carol: currency causing a lot of problems around the globe. them i know know them.
9:32 pm
we have had kids. adult diapers, and this is a business that is growing rapidly and outpacing the diapers you see for kids. area, stranger, but a growth business. i was going to talk about crude oil. than 70%mmeting more from its 2014 hi, the s&p 500 off to its worst start since 2008. and stocks have developed an unhealthy, codependent relationship. carol: in this week's cover has thatter coy story for us. bad time for it to be breaking up, i don't know. this correlation has investors confused. >> we saw it last week, the amazing decline in oil that seem to our alarm investors and they sold us stocks. it is continuing this trend we have seen all year long, an
9:33 pm
unhealthy, codependent relationship just in time for valentine's day. i think it is overdone. carol: the relationship? >> people should not be responding this way. thet of all, i don't think fall in oil is justified. overshot. we are at levels now where people can't make money, and drilling is going away. eventually production will fall and the price will shoot right back up again, but even leaving that aside, if you assume oil prices stay down here, it does not justify the decline and stocks we have seen. i think it is because people are assuming that if oil goes down, it must be evidence that there is a problem in the demand side of the global economy. if people don't consume oil, that will be bad for global growth, which will hurt corporate profits, which will
9:34 pm
hurt the s&p. that's not what were seeing here. carol: you break down statistics and numbers and talk about supply and demand. people are using more oil, aren't they? >> they are people other than using less oil, they are using more. you go from the third quarter of 2015, 2013 through the third quarter of 2015, the most recent data available, the demand for oil globally went up 3.1 million barrels per day. the only reason the prices down is that the supply grew by 5 million barrels a day, so the issue with the low price of oil is a supply problem, not a demand problem that everybody seems to be worried about. david: you talk to investors and look at financial stocks, banks are worried that they have lent money to these energy companies. .hey are over extended is that unfounded? asi think that is overdone
9:35 pm
well. i'm glad you brought it up. if you look at the data -- let's take the u.s. and look at the problem areas, russia, venezuela , other high-cost energy producing nations, the u.s. is not lending money to those nations. there is some lending going on to the shale producers in the them ast if you look at a share of the total bank lending, it is tiny. with -- thatrview says that most of those loans will eventually get repaid, even if the companies have to go through bankruptcy to do it. carol: what's interesting is the eorrelation in terms of w typically get an oil spike before a recession. >> exactly. if we had oil spiking, then i would be worried about a recession.
9:36 pm
here we have a cut in the price of oil, people are saving money at the prompt and have more money to spend and we are suddenly worried about a recession. what is wrong here? carol: it doesn't make sense. oil gothis week we saw below $28 a barrel, $27 a barrel , people get spooked when that happens. how does the market shake that? >> it is a psychological factor, but i would counter it with another psychological factor that the markets aren't paying attention to. people are pulling up to the pump and seeing prices they have not seen in a long time and are feeling good about that, helping consumer confidence, spending, and the economy. carol: what about the capital expenditures by the oil companies. these major integrated oil companies spend a lot of money when it comes to capital expenditures. if they pull back, you feel that. >> we have a quote in the story
9:37 pm
from somebody saying that total reduction in capital expenditure is something on the order of $1 trillion, but you have to lay that against the overall size of capital spending in all sectors of the economy, including the ones energized by the cheaper cost of oil and will be able to invest more, so it is not a zero-sum game here. carol: you are the optimist. >> i'm trying to be. david: last question, how do u.s. and investors shake this? there are all these reasons why the u.s. economy is doing well, but the still looms on the horizon. is it possible to be in investor and ignore which are seeing in oil prices? are a long-term investor, and i would think most people should be long-term investors, then you want to be able to look through the ups and downs of the market. oil gyrate's, it always has and will. it is the nature of oil to be like that. stocks are also volatile. if you are hanging in for the
9:38 pm
long term, you want to think about what is the underlying health of america and the other countries where you are putting your money, and if you are confident in that, stay invested. carol: on this valentine's day weekend, time for the relationship to be over? time to break that intimate connection between oil and stocks. carol: it is a great story. david: check it out online where it is a animated -- where it is animated. read petercan lit story and the latest edition of "businessweek". david: what's ahead for viacom? will take a look at the details when "businessweek" on bloomberg television returns. ♪
9:39 pm
9:40 pm
9:41 pm
david: a changing of the guard at cbs and viacom. an end to sumner redstone's reign over a company that he has controlled for 30 years. david: let's talk about the void that sumner redstone's departure leaves. >> this is the moment that people have been waiting for for a long time. there have been all these rumors, conflicting reports, about sumner redstone's health. he is 92 years old, so finally the moment, where he steps down as chair of cbs and viacom. cbs, no drama, no surprise, les moonves well thought of. he is a ceo elevated to chair. viacom, totally different story. david: why is it a different story? >> basically the last year and a half, two years, viacom has been
9:42 pm
struggling, cable networks, nickelodeon, i falling off a cliff. it is not a diversified business. as the ratings have fallen, the stock price has gotten crushed, down more than 50% over the past that has as all happened, investors have said something needs to change. we need management, a new strategy, something, but basically as long as sumner has been in the picture, he is very close with the ceo of viacom, people are like it's not going to change until something changes with sumner, but as these reports about his health were going along, ok, sometime he will have to step down. there was all this mounting pressure. he can handle his duties, and finally this moment comes, everyone's watching, and for the first hour or two bank it look like there was going to be a shakeup because his daughter,
9:43 pm
cherry red stone, comes out immediately with a statement essentially saying that i don't takingilippe dauman over his chair. david: there have been so many reports about his health here it how they show as still from weekend at bernie's, but what it we know definitively about how he is doing and why it took so long to happen? >> there are still conflicting reports. no reporter has set down with sumner for years now. in the meantime, he has missed shareholders meetings, has not been out there public. david: he sounded weird. yeah, so on one hand you had aumane like philippe dum say he does not get around so well, but mentally still
9:44 pm
sharpens attack, able to make his own health care decision, and at the same time you have this other portrait of his health which came out in this lawsuit in los angeles. filed thisgirlfriend lawsuit this past fall in november, and it gave this very ire portrait of not only his physical health, but she alleged that he is not there mentally as well. david: this is a publicly held company. there is a fiduciary responsibility to investors. you wonder how long he has been out of it, and other people have not been talking about it. >> right, so you have had investors, and activist investor came out in january and put this totally laying out the case against viacom, against , saying youman
9:45 pm
can't have sumner the chairman of this company anymore and putting the pressure on. joinednvestors have sang, what we really know about him, so there has been pressure, and this is the first moment where finally he is stepping down as chair. he is still the majority controlling owner of both viacom and cbs, so this is not over yet by any means. david: she has investors agitating for changes. how much is the leadership of viacom -- how much are we going to see a reflection of that leadership change in how viacom is operating and what shape is today?mpany in are there plans to change it? >> there has been a lot of talk for years now. n had his first earning call this week, and his reaction sounded like a lot more of the same.
9:46 pm
we're selling ad inventory for snapchat. you're listening to that and saying that that is going to cannibalize more of the audience. so it is hard to imagine what will happen, although at this point the share prices dropped so low that you think they would be a good target for acquisition. in theyou point out story, and this is a number that stood out, how much philippe dauman has been paid. they have made a lot of money as the share prices gone down. >> yeah, some people were very his compensation package came out this year, where it turns out he is getting paid a total compensation above $50 million, 20% more than last revenue seven down, stocks down, profits down, domestic advertising revenue
9:47 pm
down, having problem with their affiliate fees and negotiations. they have this big negotiation with dish looming. there has been trouble on all fronts. the viewingrue that behavior of young people has andged a lot since mtv comedy central became these dominant brands. now kids are going on youtube, have all these other options, netflix, but at the same time you look at the company and they have had a decade of a lot of profits to figure out acquisitions. what have they done under philippe dauman? his strategy has been plying profits into share buybacks. carol: people calling it a lost decade. >> yeah, in the meantime in retrospect it seems like there would have been better ways to use those profits. also, paramount has had a very slim slate of movies, too, so
9:48 pm
they have been trying to bulk that up, trying to do tv production in addition to movie production, but that also feels like they are a little bit slow to get into that. he's. such a great david: thank you very much. coming up, this week's etc. section in the magazine. anol: we talk about up-and-coming company and its move to be the patagonia of hunting gear. we have the details when bloomberg tv returns. ♪
9:49 pm
9:50 pm
9:51 pm
carol: for hillary clinton and bernie sanders, the next out of ground will be nevada and south carolina. >> we have got a proven track record of doing what works and now we just need another democratic president to build on the successes of these we terms, because otherwise are just going back to that land , oneickle-down economics of the worst ideas of the 1980's, along with shoulder pads and big hair and -- stuff like that. and joins usdol's now to win nevada. ,alk to us about robbie moke the head of hillary clinton's campaign, a man who has a lot of experience in this day. >> that's right, in 2008 he was
9:52 pm
running the clinton campaign and nevada and he fought to arguably obama, getting 600 more votes, but the obama campaign got more delegates. robbie moog took a community organized approach that got noticed by the clintons. his elevation to run the whole campaign this time is a vote of , hisdence in his style no-drama style, but also the ,trategy he approached it with which now the team that is picking up where he left off in nevada is trying to go the distance against bernie sanders with. carol: talk to us about the nuances of nevada and his approach. things is that the
9:53 pm
person running the campaign this time told me that she looked at in 2008 as an area where they lost, and that led to them not winning overall, is that delicate mass being different. the delicate mass in nevada means a vote in one precinct is not worth the same amount as one in another on caucus day. how did thempaign clinton campaign in that area, and the clinton campaign has learned from it this time. that is part of why, as i reported the story, you see a real effort from the clinton folks to show the present outside of the top population centers in the state. you also see them picking up that both the clintons and the , a focusid last time on a volunteer-centered approach, where you just on have volunteers who come in for a night and make phone calls. you have volunteers take a sense of ownership of a particular group of voters, take ownership
9:54 pm
of tasks and central responsibilities on caucus day, take ownership of other volunteers, bringing them in and overseeing them, and so a lot of the life and responsibility of the campaign rests with those ofunteers, and a lot of work the staff is about leading and developing those volunteers. josh i'd listen, thank you for that. we appreciate it. >> thank you very much. take anow it is time to look at the etc. part of the magazine. for that we bring in brett, who edited the section. david: you have a guy wearing camouflage that i have not seen before, a new brand of hunting gear. by ae company was started guy named jason who's been a little time in the nfl. on weekends he was going on hunting trips and found himself often wearing a lot of name brands, but having to wrap
9:55 pm
himself in cheap, heavy camouflage. like patagonia with a generic camouflage on top. >> exactly. that hehed the company launched with a friend from college. they wanted up selling the company and launch the new company. carol: this can't be that big of a market. it is a real sizable market. david: yeah, hunting is huge. there are 50 million people a year who apply for hunting licenses, 50 million people year , and the industry, apparel and gear, takes and $23 billion a year. it is huge, so there are so many business opportunities. these companies have been reluctant to embrace hunting of any stripe really. hunterket has seen the as overweight and underpaid, and it is a market they haven't
9:56 pm
wanted to get into. >> the hunting gear that was available was really kind of awful. it was not cut for someone who is athletic or who was accustomed to the kind of performance with labels like north face, columbia, patagonia. carol: what is it about the materials they use in their approach? they are coming up with their own camouflage patterns? most camouflage is a license, generic, everyone knows what it looks like, and that's designed to have you blend in with your surroundings, so if you're in a duck blind for instance you don't want ducks to notice you are there. they do the opposite with her pattern. patterned on the african wild dog. predators get so confused by its lines and colors that they run away. they don't know what to make of it, and that is the approach that he took with their
9:57 pm
camouflage. david: the business, in terms of where just are still at it -- where it is distributed carol: it is different from his first business, right? >> a jacket that might normally go for 450 dollars, goes for about $300, which is expensive for camo gear, but not expensive given what is on the market. carol: carol: thank you so much. that does it for this week's addition of "businessweek" on bloomberg television. i am carol massar. .angechi i am david gura the latest stories are online and on newsstands. carol: we'll see you again next week right here on bloomberg television. ♪
9:58 pm
. .
9:59 pm
10:00 pm
announcer: from our studios in new york city, this is "charlie rose." charlie: alan gilbert is here. he has served as the music director of the new york philharmonic since 2009. he announced last year that he would step down from the post in the summer of 2017. contemporary music has been a focus of his tenure. he has launched several initiatives, including biennial. visual arts inspired new music festival. criticef classical music of the "new york times" wrote "more than any of his predecessors since leonard


info Stream Only

Uploaded by TV Archive on