1 00:00:00,120 --> 00:00:02,280 Speaker 1: Good afternoon and getting right down the business here. We 2 00:00:02,360 --> 00:00:05,519 Speaker 1: are doing it live, doing more at four Weekday Afternoons 3 00:00:05,600 --> 00:00:08,200 Speaker 1: live on the air and seven ninety KBC streaming live 4 00:00:08,240 --> 00:00:11,799 Speaker 1: online worldwide at KBC dot com, the on demand Motaca 5 00:00:11,840 --> 00:00:16,480 Speaker 1: Money podcast, KBC dot com, Apple, iTunes, YouTube, Spotify, all 6 00:00:16,520 --> 00:00:20,360 Speaker 1: your favorite podcast platforms. Lift off at the Kennedy Space Center. 7 00:00:20,400 --> 00:00:22,479 Speaker 1: We have lift off for the stock market on Wall 8 00:00:22,480 --> 00:00:25,720 Speaker 1: Street today as this week's rally continues. Following up on 9 00:00:25,800 --> 00:00:29,280 Speaker 1: yesterday's eleven hundred point pop for the Dow Jones Industrial Average, 10 00:00:29,400 --> 00:00:31,680 Speaker 1: the blue chip index gained another two hundred and twenty 11 00:00:31,760 --> 00:00:34,400 Speaker 1: four points today to kick off the month of April 12 00:00:34,440 --> 00:00:36,880 Speaker 1: and the second quarter. The S and P five hundred 13 00:00:36,920 --> 00:00:40,000 Speaker 1: closes of forty seven points, NASDAG gained two fifty and 14 00:00:40,040 --> 00:00:42,040 Speaker 1: the yield and the tenure note stands at four point 15 00:00:42,120 --> 00:00:44,840 Speaker 1: three to two percent. Market moving higher for the second 16 00:00:44,920 --> 00:00:47,159 Speaker 1: day in a row. As President Trump prepares to address 17 00:00:47,200 --> 00:00:50,240 Speaker 1: the nation this evening about the war in Iran. Trump 18 00:00:50,280 --> 00:00:53,360 Speaker 1: says he intends to wind down US operations within weeks 19 00:00:53,360 --> 00:00:56,360 Speaker 1: and do so without securing the opening of the Straight 20 00:00:56,360 --> 00:00:58,760 Speaker 1: of Horror moves in the Persian Gulf. As the Wall 21 00:00:58,760 --> 00:01:01,960 Speaker 1: Street Journal notes that's an ario holds risk, especially that 22 00:01:02,120 --> 00:01:06,600 Speaker 1: elevated oil prices could remain feeding inflation and endangering economic growth. 23 00:01:06,600 --> 00:01:09,400 Speaker 1: The Nasdaq jump one point two percent by the way today, 24 00:01:09,400 --> 00:01:12,440 Speaker 1: capping its best two day run since May of last year. 25 00:01:12,920 --> 00:01:15,959 Speaker 1: Looks like Boeing and Caterpillar helped the Dow Jones Industrial 26 00:01:16,000 --> 00:01:19,960 Speaker 1: average to its third consecutive rise today. Fear of missing 27 00:01:20,000 --> 00:01:22,800 Speaker 1: out mentioned during the trading day today. The monster rally 28 00:01:22,800 --> 00:01:25,640 Speaker 1: after the President's Liberation Day announcements last year, when the 29 00:01:25,640 --> 00:01:29,680 Speaker 1: president's pausing of tariff suddenly reversed stock declines still in 30 00:01:30,120 --> 00:01:33,080 Speaker 1: trader's minds. Many hedge fund firms were caught flat footed 31 00:01:33,120 --> 00:01:35,800 Speaker 1: when the NASDAC suddenly gained more than ten percent in 32 00:01:35,840 --> 00:01:38,800 Speaker 1: a single dizzying session than one to avoid that fate 33 00:01:39,160 --> 00:01:41,760 Speaker 1: this time, as the Wall Street Journal notes, the price 34 00:01:41,800 --> 00:01:44,919 Speaker 1: of oil, which moved counter lately to stock, slipped today, 35 00:01:44,959 --> 00:01:48,120 Speaker 1: with rent crude retreating nearly three percent back to one 36 00:01:48,200 --> 00:01:51,640 Speaker 1: hundred and one dollars sixteen cents a barrel. Looks like 37 00:01:52,040 --> 00:01:55,279 Speaker 1: in New York, we see a West Texas intermediate price 38 00:01:55,440 --> 00:01:58,240 Speaker 1: now also easing a bit at the moment at ninety 39 00:01:58,280 --> 00:02:02,040 Speaker 1: eight ninety a barrel. Looks like the oil names took 40 00:02:02,080 --> 00:02:05,240 Speaker 1: a hit today. Treasury yields also take hire on the 41 00:02:05,240 --> 00:02:07,680 Speaker 1: first day of the second quarter as traders went through 42 00:02:07,720 --> 00:02:11,639 Speaker 1: the latest upbeat economic reports. For example, the ADP private 43 00:02:11,680 --> 00:02:14,640 Speaker 1: sector employment report from March and the retailed sales number 44 00:02:14,840 --> 00:02:18,080 Speaker 1: we got today for February both surprised to the upside. 45 00:02:18,080 --> 00:02:21,120 Speaker 1: We'll be getting the Big Enchilada, a monthly economic reports 46 00:02:21,160 --> 00:02:24,000 Speaker 1: that'll be coming out on Friday from the Labor Department 47 00:02:25,280 --> 00:02:28,320 Speaker 1: spectacular launcher the Artemist two mission from the Kennedy Space 48 00:02:28,360 --> 00:02:30,839 Speaker 1: Center in Florida. Lift off occurred at three thirty five 49 00:02:30,919 --> 00:02:33,560 Speaker 1: pm Los Angeles times six thirty five pm in the 50 00:02:33,600 --> 00:02:37,200 Speaker 1: evening at the Florida Spaceport, carrying four astronauts, including one 51 00:02:37,200 --> 00:02:40,440 Speaker 1: with the connection to Southern California. The Artemist two mission 52 00:02:40,919 --> 00:02:44,280 Speaker 1: is under way NASA's lunar fly around by the four astronauts, 53 00:02:44,360 --> 00:02:47,080 Speaker 1: the first trip to the Moon in fifty three years. 54 00:02:47,600 --> 00:02:50,640 Speaker 1: The Space Launch System rocket blasted off from the Kennedy 55 00:02:50,639 --> 00:02:54,239 Speaker 1: Space Center in Florida, Artemis astronauts Reed Wiseman, Victor Glover, 56 00:02:54,800 --> 00:02:59,839 Speaker 1: Christina Christina Cook, and Jeremy Hanson, hurtling several thousand miles 57 00:03:00,200 --> 00:03:03,160 Speaker 1: beyond the Moon, and we'll be following that mission very 58 00:03:03,280 --> 00:03:06,320 Speaker 1: very closely. Four astronauts heading to the Moon have reached 59 00:03:06,400 --> 00:03:10,000 Speaker 1: orbit now looks like NASA says the mission is designed 60 00:03:10,000 --> 00:03:14,000 Speaker 1: to test the Orion spacecraft systems and demonstrate astronaut's ability 61 00:03:14,040 --> 00:03:16,799 Speaker 1: to travel safely beyond low Earth orbit for the first 62 00:03:16,840 --> 00:03:20,320 Speaker 1: time since the Apollo seventeen mission in nineteen seventy two. 63 00:03:20,360 --> 00:03:23,040 Speaker 1: Will be following this very closely, and we will be 64 00:03:23,040 --> 00:03:25,760 Speaker 1: taking you live to the Columbia Memorial Space Center in 65 00:03:25,840 --> 00:03:28,880 Speaker 1: Downey here in southern California. There was a joyous watch 66 00:03:28,960 --> 00:03:31,960 Speaker 1: party there for today's launch, which happened just about thirty 67 00:03:31,960 --> 00:03:34,480 Speaker 1: minutes ago. The executive director of that center will be 68 00:03:34,800 --> 00:03:37,920 Speaker 1: joining us live later this hour. The Deal Divide, the 69 00:03:37,960 --> 00:03:40,840 Speaker 1: so called graffiti towers in downtown Los Angeles may have 70 00:03:40,880 --> 00:03:43,240 Speaker 1: his snagged. Now is the buyer face of some resistance 71 00:03:43,280 --> 00:03:46,440 Speaker 1: and a confirmation hearing to seal the deal's been pushed back. 72 00:03:46,680 --> 00:03:48,720 Speaker 1: We'll get an update on that and all things commercial 73 00:03:48,760 --> 00:03:51,640 Speaker 1: real estate later this hour from Jerry Sullivan, National managing 74 00:03:51,720 --> 00:03:55,040 Speaker 1: Editor The Real Deal, commercial real estate news source at 75 00:03:55,040 --> 00:03:58,880 Speaker 1: therealdeal dot com. But first, on your money, The markets, 76 00:03:58,920 --> 00:04:01,040 Speaker 1: the economy, and the whole world now joining us live 77 00:04:01,120 --> 00:04:04,760 Speaker 1: Art Hogan, Chief market Strategist, b Riley Wealth Management, Art, 78 00:04:04,800 --> 00:04:06,760 Speaker 1: thank you very much for taking the call live with 79 00:04:06,760 --> 00:04:07,640 Speaker 1: this year this afternoon. 80 00:04:08,560 --> 00:04:10,520 Speaker 2: Yeah, thanks so much. Fact, it's great as always to 81 00:04:10,520 --> 00:04:12,280 Speaker 2: talk to you, and we've got plenty to talk about. 82 00:04:12,120 --> 00:04:13,400 Speaker 3: Today, absolutely well. 83 00:04:13,440 --> 00:04:16,640 Speaker 1: First of all, new attention focused on the space and 84 00:04:16,640 --> 00:04:19,840 Speaker 1: it appears that investors are looking up with the market 85 00:04:20,200 --> 00:04:21,240 Speaker 1: rebounding lately. 86 00:04:21,440 --> 00:04:23,080 Speaker 3: Give us your view of things here at the moment. 87 00:04:23,920 --> 00:04:27,360 Speaker 2: Yeah, Space, the final Frontier is back in our lives again, right. 88 00:04:27,400 --> 00:04:30,120 Speaker 2: So we've had a lot of companies involved in today's launch, 89 00:04:30,120 --> 00:04:32,960 Speaker 2: which is interesting, all of them publicly traded, so it 90 00:04:33,000 --> 00:04:36,560 Speaker 2: was interesting to watch that. And when you look at 91 00:04:36,680 --> 00:04:39,039 Speaker 2: what this current mission is, I think it's the first 92 00:04:39,080 --> 00:04:41,599 Speaker 2: step before we move even further. I think the real 93 00:04:41,680 --> 00:04:44,200 Speaker 2: concept is not only going to get back to the Moon, 94 00:04:44,200 --> 00:04:45,880 Speaker 2: but we're going to use the Moon as a as 95 00:04:45,920 --> 00:04:48,880 Speaker 2: a launching place to go out even further. So that's 96 00:04:49,200 --> 00:04:51,400 Speaker 2: very exciting. I mean, this is the fact that we 97 00:04:51,400 --> 00:04:52,960 Speaker 2: haven't been back to the Moon in fifty three years 98 00:04:53,080 --> 00:04:57,760 Speaker 2: is astonishing to me. But it was certainly great to 99 00:04:57,800 --> 00:05:00,480 Speaker 2: see a successful launch in the going to spend a 100 00:05:00,480 --> 00:05:02,080 Speaker 2: couple of days in low war but testing out all 101 00:05:02,120 --> 00:05:04,600 Speaker 2: our systems and then make us spin around the moon 102 00:05:04,640 --> 00:05:06,880 Speaker 2: and come back. And we wish in the best of luck. 103 00:05:06,880 --> 00:05:08,880 Speaker 2: But this is very exciting, always exciting to see these 104 00:05:09,600 --> 00:05:12,760 Speaker 2: combined events and and and and there are a lot 105 00:05:12,800 --> 00:05:14,239 Speaker 2: of companies that are involved in that process. 106 00:05:14,440 --> 00:05:14,960 Speaker 3: Absolutely. 107 00:05:15,000 --> 00:05:20,080 Speaker 1: And the other big news looks like SpaceX quietly getting 108 00:05:20,080 --> 00:05:24,520 Speaker 1: that IPO going. According to Bloomberg and CNBC, I believe 109 00:05:24,520 --> 00:05:28,159 Speaker 1: SpaceX confidentially filing for an IPO settings the stage for 110 00:05:28,200 --> 00:05:31,560 Speaker 1: a record offering. It looks like CNBC came out with 111 00:05:31,600 --> 00:05:34,240 Speaker 1: that news. What's your reaction to that big news and 112 00:05:34,240 --> 00:05:35,559 Speaker 1: how do you expect that to play out? 113 00:05:36,279 --> 00:05:37,760 Speaker 2: I think it's going to do well. I think that 114 00:05:38,080 --> 00:05:42,279 Speaker 2: we haven't had very many exciting new IPOs, and there's 115 00:05:42,320 --> 00:05:45,120 Speaker 2: several in the queue right now, SpaceX obviously being one 116 00:05:45,120 --> 00:05:48,640 Speaker 2: of them, and yeah, they were inching their way closer. 117 00:05:48,640 --> 00:05:50,159 Speaker 2: They're probably gonna be the first to come. The next 118 00:05:50,160 --> 00:05:53,440 Speaker 2: would likely be Nthropic, the big AI large language model company, 119 00:05:53,640 --> 00:05:56,000 Speaker 2: and then open Ai. All of that could happen this 120 00:05:56,080 --> 00:05:59,240 Speaker 2: calendar year, and certainly two of them likely will. Capital 121 00:05:59,240 --> 00:06:01,760 Speaker 2: markets activity just hasn't been as robust as here as 122 00:06:01,800 --> 00:06:05,479 Speaker 2: we thought, coming into a world where market activity and 123 00:06:05,520 --> 00:06:07,760 Speaker 2: market conditions over the course of the last four or 124 00:06:07,760 --> 00:06:10,360 Speaker 2: five weeks have likely pushed things back a little bit. 125 00:06:10,400 --> 00:06:12,520 Speaker 2: But getting any of these deals done, I think always 126 00:06:12,520 --> 00:06:15,719 Speaker 2: add some enthusiasm to markets, and not just capital markets 127 00:06:15,760 --> 00:06:19,400 Speaker 2: and IPOs, but secondaries and M and A activity. None 128 00:06:19,400 --> 00:06:20,800 Speaker 2: of that's going to happen while we have the kind 129 00:06:20,839 --> 00:06:24,480 Speaker 2: of confusion and turmoil going on, while we're in the 130 00:06:24,520 --> 00:06:26,039 Speaker 2: throes of things in Iran. 131 00:06:27,360 --> 00:06:32,279 Speaker 1: And this confidential filing, according to CNBC's reporting, allows companies 132 00:06:32,320 --> 00:06:35,520 Speaker 1: to submit their financials to the SEC for review before 133 00:06:35,560 --> 00:06:39,120 Speaker 1: revealing them to the public. So we're going to try 134 00:06:39,160 --> 00:06:41,440 Speaker 1: to get more information about this, but this is going 135 00:06:41,520 --> 00:06:44,159 Speaker 1: to be a certainly record shattering and will draw a 136 00:06:44,160 --> 00:06:46,320 Speaker 1: lot of interest. In the meantime, as you properly know, 137 00:06:46,440 --> 00:06:49,359 Speaker 1: to Ardholgen, the warrant iron that very much in focus 138 00:06:49,560 --> 00:06:51,400 Speaker 1: with the gas and oil prices, of course, and pretty 139 00:06:51,440 --> 00:06:54,480 Speaker 1: much all we've been talking about lately. Of the president scheduled, 140 00:06:54,480 --> 00:06:56,359 Speaker 1: do us speak of the sevening to the nation at 141 00:06:56,440 --> 00:06:59,560 Speaker 1: nine pm Eastern six pm out here on the West coast, 142 00:07:00,080 --> 00:07:02,520 Speaker 1: Give us your thoughts about how this has played out, 143 00:07:02,760 --> 00:07:05,400 Speaker 1: and now there seems to be hope that this will 144 00:07:05,480 --> 00:07:08,440 Speaker 1: end soon and we've been seeing this market rebound. What 145 00:07:08,440 --> 00:07:10,200 Speaker 1: do you see that for this market at the moment. 146 00:07:10,800 --> 00:07:12,920 Speaker 2: Yeah, I think the first glimmer of hope was that 147 00:07:12,960 --> 00:07:15,280 Speaker 2: we actually heard from somebody who is likely in the 148 00:07:15,320 --> 00:07:17,800 Speaker 2: leadership position in Iran, and that happened over the weekend 149 00:07:17,840 --> 00:07:21,240 Speaker 2: in Monday, where the President Iran came back and through 150 00:07:21,480 --> 00:07:25,160 Speaker 2: orient state media said yes, they have received the peace 151 00:07:25,200 --> 00:07:27,520 Speaker 2: plan that the markets put forward that's been going through 152 00:07:27,520 --> 00:07:30,800 Speaker 2: a third party ractually. He's in Pakistan that delivered those messages. 153 00:07:30,800 --> 00:07:32,840 Speaker 2: He came back to say, this is what we would 154 00:07:32,880 --> 00:07:35,040 Speaker 2: need to end this war. So now we know what's 155 00:07:35,080 --> 00:07:37,640 Speaker 2: on the table at least, and that's the first time 156 00:07:37,640 --> 00:07:39,040 Speaker 2: we've had that kind of news over the course of 157 00:07:39,080 --> 00:07:41,400 Speaker 2: the four weeks this has been going on heading into 158 00:07:41,440 --> 00:07:43,720 Speaker 2: the fifth week this week, so I think that's the 159 00:07:44,080 --> 00:07:47,800 Speaker 2: kind of sigh relief. Now. The equity markets are celebrating 160 00:07:47,840 --> 00:07:49,960 Speaker 2: that a whole lot more than the energy markets because 161 00:07:49,960 --> 00:07:51,880 Speaker 2: there's no sign that we're anywhere closer to getting the 162 00:07:51,920 --> 00:07:54,960 Speaker 2: straight or her moves close. So while we're not on 163 00:07:55,000 --> 00:07:57,960 Speaker 2: the very high so we're still flirting with one hundred 164 00:07:58,000 --> 00:08:01,200 Speaker 2: dollars on both WTI and Brent. So the oil market's 165 00:08:01,240 --> 00:08:03,720 Speaker 2: not buying into the enthusiasm just it. Nor is the 166 00:08:03,720 --> 00:08:07,000 Speaker 2: treasury market. As you mentioned today, yields really haven't backed 167 00:08:07,080 --> 00:08:10,720 Speaker 2: down much, and that's the fear of the longer this lasts, 168 00:08:10,720 --> 00:08:13,080 Speaker 2: the more inflation it puts in the global economy. But 169 00:08:13,120 --> 00:08:14,880 Speaker 2: then here and now it could be markets you know, 170 00:08:14,920 --> 00:08:16,760 Speaker 2: are you have been coiled up, all three of the 171 00:08:16,800 --> 00:08:20,280 Speaker 2: major industries down about ten percent in the four week timeframe. 172 00:08:20,640 --> 00:08:22,560 Speaker 2: But to your point, I think you open this up 173 00:08:22,880 --> 00:08:26,680 Speaker 2: very correctly with the analogue to Liberation Day. If you 174 00:08:26,680 --> 00:08:28,640 Speaker 2: you know, if you got out of the market Liberation 175 00:08:28,760 --> 00:08:32,160 Speaker 2: Day when they released the original format of the tariffs 176 00:08:32,160 --> 00:08:35,040 Speaker 2: that they're going to the administration was going to levy 177 00:08:35,080 --> 00:08:37,280 Speaker 2: and then they pulled that back five days later, you 178 00:08:37,280 --> 00:08:39,760 Speaker 2: missed one of the most explosive rallies of last year. 179 00:08:39,840 --> 00:08:43,120 Speaker 2: And and to your point, traders have a very good 180 00:08:43,240 --> 00:08:45,920 Speaker 2: muscle memory for things like that, So I think that's 181 00:08:45,960 --> 00:08:49,200 Speaker 2: why that's kept the market from getting sold off much 182 00:08:49,200 --> 00:08:52,120 Speaker 2: more than it has. But all along the way we've 183 00:08:52,120 --> 00:08:55,000 Speaker 2: seen energy as the only sector that's been positive in 184 00:08:55,000 --> 00:08:57,480 Speaker 2: the sp five hundred for the last quarter, which is 185 00:08:57,520 --> 00:08:59,440 Speaker 2: you just wrapped up this week. So I think that 186 00:09:00,040 --> 00:09:02,680 Speaker 2: as the market starts to get a breath or a 187 00:09:02,800 --> 00:09:04,959 Speaker 2: sense that, you know, perhaps we're getting closer to the 188 00:09:05,040 --> 00:09:07,679 Speaker 2: end than we are at the beginning of this incursion, 189 00:09:08,280 --> 00:09:09,959 Speaker 2: I think you're going to start to see energy pull 190 00:09:10,080 --> 00:09:12,439 Speaker 2: back a bit and the rest of the SB five 191 00:09:12,559 --> 00:09:15,960 Speaker 2: hundred start to move higher. We've seen that, and then 192 00:09:15,960 --> 00:09:18,160 Speaker 2: the sneak preview we had of what would happen if, 193 00:09:18,160 --> 00:09:20,480 Speaker 2: in fact, piece were to break out over the course 194 00:09:20,520 --> 00:09:21,360 Speaker 2: of the last two days. 195 00:09:21,640 --> 00:09:23,080 Speaker 3: Very interesting in all this. 196 00:09:23,120 --> 00:09:24,800 Speaker 1: In the last couple of days, we've seen the precious 197 00:09:24,800 --> 00:09:27,280 Speaker 1: metals rebound a goal had taken a hit and announce 198 00:09:27,360 --> 00:09:29,559 Speaker 1: back to close to forty eight hundred. Silver is back 199 00:09:29,600 --> 00:09:32,440 Speaker 1: around seventy five dollars an ounce. What have you noted 200 00:09:32,480 --> 00:09:35,600 Speaker 1: in the latest moves in the precious metals now? 201 00:09:35,800 --> 00:09:39,240 Speaker 2: You know, unfortunately, coming into this event, you had gold 202 00:09:39,320 --> 00:09:41,240 Speaker 2: up some you know, fifty five percent of the course 203 00:09:41,240 --> 00:09:43,520 Speaker 2: in the last twelve months, got us I have fifty 204 00:09:43,520 --> 00:09:46,640 Speaker 2: four hundred. We're looking at forty five hundred as a 205 00:09:46,640 --> 00:09:49,080 Speaker 2: as a new entry level, and that's exactly where the 206 00:09:49,080 --> 00:09:51,439 Speaker 2: two inter day moving average was. That's exactly where it bounced. 207 00:09:51,559 --> 00:09:53,640 Speaker 2: The same thing with silver. Silver got ahead of itself too. 208 00:09:53,679 --> 00:09:56,360 Speaker 2: That was up sixty five percent of the twelve months 209 00:09:56,360 --> 00:10:00,400 Speaker 2: preceding this military event. And then what happens is a 210 00:10:00,400 --> 00:10:03,400 Speaker 2: lot of those investors are tourists and they're playing it 211 00:10:03,440 --> 00:10:05,960 Speaker 2: for the momentum. And when that momentum shifts at all, 212 00:10:06,040 --> 00:10:07,920 Speaker 2: do you see them exit just as quickly. I think 213 00:10:07,960 --> 00:10:11,760 Speaker 2: the fundamental precious metal investors are still in there. One 214 00:10:11,760 --> 00:10:13,600 Speaker 2: of the things that's been dragging it down too is 215 00:10:13,679 --> 00:10:16,959 Speaker 2: with the you know, the fear of inflation and the 216 00:10:18,240 --> 00:10:21,240 Speaker 2: uncertainty around the war. You certainly saw some strengthen the dollar. 217 00:10:21,360 --> 00:10:24,760 Speaker 2: The dollar strengthened significantly, and when the dollar strengthens, that 218 00:10:24,840 --> 00:10:27,680 Speaker 2: takes that takes some of the price out of the 219 00:10:27,760 --> 00:10:30,760 Speaker 2: dollar denominated commodities, and precious metals certainly lived there. 220 00:10:31,760 --> 00:10:33,439 Speaker 3: Let's the outlook on the dollar. 221 00:10:33,600 --> 00:10:36,720 Speaker 1: If the war wramps up sooner rather than later, will 222 00:10:36,720 --> 00:10:38,840 Speaker 1: the dollar be under pressure again or will it be 223 00:10:39,080 --> 00:10:39,720 Speaker 1: strong again. 224 00:10:40,600 --> 00:10:42,040 Speaker 2: I think it's going to be under a little bit 225 00:10:42,080 --> 00:10:43,360 Speaker 2: of pressure, not the kind of pressure that we saw 226 00:10:43,400 --> 00:10:45,360 Speaker 2: over the course of the last year. I think the 227 00:10:45,679 --> 00:10:48,400 Speaker 2: if you look at the FED Fund's futures. There are 228 00:10:48,559 --> 00:10:51,280 Speaker 2: zero rate changes by the FED priced in right now. 229 00:10:51,280 --> 00:10:54,600 Speaker 2: That means zero cuts and zero increases, right so there's 230 00:10:54,600 --> 00:10:56,920 Speaker 2: no rate heights or rate cuts priced in. If that 231 00:10:57,040 --> 00:10:58,960 Speaker 2: remains the case, and we have to wait for some 232 00:10:59,040 --> 00:11:02,560 Speaker 2: of the higher prices to flow through the system, I 233 00:11:02,559 --> 00:11:04,440 Speaker 2: think the dollar, you know, may pull back from some 234 00:11:04,480 --> 00:11:06,240 Speaker 2: of the recent increases, but I don't think we're going 235 00:11:06,240 --> 00:11:08,320 Speaker 2: to the lows that we saw last year. I think 236 00:11:08,320 --> 00:11:10,719 Speaker 2: that one of the reasons that the dollar had been 237 00:11:10,760 --> 00:11:13,960 Speaker 2: weaker was based upon the fact that we were just 238 00:11:14,000 --> 00:11:16,360 Speaker 2: starting a rate cutting cycle where most of the developed 239 00:11:16,360 --> 00:11:19,360 Speaker 2: countries around Europe and Alardy gone through it. So we relate 240 00:11:19,440 --> 00:11:22,120 Speaker 2: to the start of cuts and therefore the dollar got 241 00:11:22,160 --> 00:11:24,480 Speaker 2: hit the most last year. So it's recovered most of that. 242 00:11:24,559 --> 00:11:27,080 Speaker 2: So I would say it's had a thirty percent retlacement 243 00:11:27,120 --> 00:11:29,680 Speaker 2: of the sell off we saw last year. That's about right. 244 00:11:29,720 --> 00:11:30,960 Speaker 2: I don't know that we have to give much of 245 00:11:30,960 --> 00:11:32,480 Speaker 2: that back, but I don't think we're going to go 246 00:11:32,520 --> 00:11:34,160 Speaker 2: back in test and lows that we saw last year. 247 00:11:34,400 --> 00:11:37,240 Speaker 1: All right, turning to the cryptos here, we saw Michael 248 00:11:37,280 --> 00:11:40,520 Speaker 1: Sailor apparently paused his buying of a bitcoin on the 249 00:11:40,600 --> 00:11:43,760 Speaker 1: last week or so that was noted here, and Bitcoin 250 00:11:43,800 --> 00:11:46,679 Speaker 1: at the moment back to around sixty eight k ethereum 251 00:11:46,720 --> 00:11:49,319 Speaker 1: as around twenty one hundred or so. I believe it 252 00:11:49,360 --> 00:11:51,920 Speaker 1: was flirting with the just below two thousand earlier in 253 00:11:51,920 --> 00:11:54,480 Speaker 1: the week. Those at the moment at nine cents. It's 254 00:11:54,520 --> 00:11:56,360 Speaker 1: fun to say that, so we mentioned it here as well. 255 00:11:56,520 --> 00:11:58,400 Speaker 1: What are your thoughts on the cryptos here and all this? 256 00:11:59,200 --> 00:12:02,240 Speaker 2: Yeah, certainly of volatility, it's hard to figure out what 257 00:12:02,280 --> 00:12:05,560 Speaker 2: the what they're correlated with. It used to be a 258 00:12:05,559 --> 00:12:08,599 Speaker 2: pretty tech correlation with risk on and things like the 259 00:12:08,679 --> 00:12:11,760 Speaker 2: Nastic one hundred, the big cap tech stock. So understand 260 00:12:11,840 --> 00:12:14,120 Speaker 2: that a lot of the Masic one hundred I caught 261 00:12:14,160 --> 00:12:18,439 Speaker 2: up in the AI disruption selloff, So the mag seven 262 00:12:18,480 --> 00:12:21,240 Speaker 2: sells off and bigcoin sells off, and that has tended 263 00:12:21,240 --> 00:12:24,080 Speaker 2: to be a pretty tight correlation. I think that's where 264 00:12:24,080 --> 00:12:25,680 Speaker 2: we are now. If you look at the mag seven, 265 00:12:25,720 --> 00:12:28,800 Speaker 2: they haven't done that well. A lot of the speculati 266 00:12:28,800 --> 00:12:32,079 Speaker 2: event of technology has also not done that well over 267 00:12:32,120 --> 00:12:34,840 Speaker 2: the course of the of the first quarter of this year, 268 00:12:34,840 --> 00:12:38,800 Speaker 2: and I think I think that's a similar investor base. 269 00:12:39,160 --> 00:12:40,720 Speaker 2: So I think that you know, if we see a 270 00:12:40,760 --> 00:12:43,120 Speaker 2: recovery in technology, we'll see a recovery in bitcoin. 271 00:12:43,920 --> 00:12:47,160 Speaker 1: On they're live with veteran market strategist Art Hogan. And 272 00:12:47,240 --> 00:12:50,000 Speaker 1: what about the mag seven names that they certainly participated in. 273 00:12:50,240 --> 00:12:53,760 Speaker 1: Yesterday's rally for the NASDAQ had that big pop and 274 00:12:53,800 --> 00:12:56,280 Speaker 1: another two hundred and fifty point gain for the NASDAC 275 00:12:56,360 --> 00:12:59,040 Speaker 1: today and we're coming off a day after the Dell 276 00:12:59,400 --> 00:13:01,800 Speaker 1: pop more than eleven hundred points and up another two 277 00:13:01,840 --> 00:13:03,040 Speaker 1: hundred or so today. 278 00:13:03,080 --> 00:13:04,240 Speaker 3: What about the mag seven here? 279 00:13:04,320 --> 00:13:07,720 Speaker 2: Now, Yeah, the Max seven on a multiple basis haven't 280 00:13:07,760 --> 00:13:10,760 Speaker 2: been this an expensive in three years. You'd have to 281 00:13:10,760 --> 00:13:13,840 Speaker 2: go back to twenty twenty three to see a lower valuation. 282 00:13:14,200 --> 00:13:16,480 Speaker 2: They're they're even trading cheaper than they did at the 283 00:13:16,520 --> 00:13:19,120 Speaker 2: lows of the April of last year's sell off. So 284 00:13:19,280 --> 00:13:22,080 Speaker 2: on a multiple basis, they've seen a lot of correction here, 285 00:13:22,280 --> 00:13:24,079 Speaker 2: and I think it's very overdone. And I think that 286 00:13:24,440 --> 00:13:27,360 Speaker 2: the problem with the MACS seven is they get treated 287 00:13:27,440 --> 00:13:29,440 Speaker 2: as a group and they all do different things. And 288 00:13:29,480 --> 00:13:31,400 Speaker 2: to me, I think in Vidio the tip of the 289 00:13:31,400 --> 00:13:34,240 Speaker 2: sword for all the capex spend is the cheapest we've 290 00:13:34,280 --> 00:13:36,880 Speaker 2: seen it in five years. So to the extent that 291 00:13:37,040 --> 00:13:40,280 Speaker 2: we get any kind of recovery and this start feeling 292 00:13:40,280 --> 00:13:42,000 Speaker 2: better about this market. I think it's going to be 293 00:13:42,080 --> 00:13:44,640 Speaker 2: led by technology first, and I think technology first is 294 00:13:44,720 --> 00:13:47,640 Speaker 2: always led by some of those megacap tech names, and 295 00:13:47,679 --> 00:13:50,880 Speaker 2: I certainly think they're all positioned well and look like 296 00:13:50,960 --> 00:13:53,400 Speaker 2: extremely goodbyes. If you wanted to see a list of 297 00:13:53,400 --> 00:13:55,720 Speaker 2: those days, I would start with Nvidia's the cheapest of 298 00:13:55,760 --> 00:13:57,760 Speaker 2: the bunch. I would also say Apple has got a 299 00:13:57,920 --> 00:14:00,600 Speaker 2: very good runway in front of it. I certainly think 300 00:14:00,600 --> 00:14:03,600 Speaker 2: Alphabet's doing all sorts of good things. And then you know, 301 00:14:03,640 --> 00:14:06,200 Speaker 2: probably in the last of the list, I would throw 302 00:14:06,240 --> 00:14:09,200 Speaker 2: in Microsoft, which is sort of sitting in that world 303 00:14:09,280 --> 00:14:11,680 Speaker 2: of having to play catch up on a large angress 304 00:14:11,679 --> 00:14:15,199 Speaker 2: model and concerns over software are being disrupted by artificial intelligence. 305 00:14:15,480 --> 00:14:17,240 Speaker 1: All Right, we're waiting to hear from the president of 306 00:14:17,280 --> 00:14:20,000 Speaker 1: this evening. A lot of writing on that speech tonight. 307 00:14:20,400 --> 00:14:22,000 Speaker 1: What do you think is going to happen tomorrow? Give 308 00:14:22,080 --> 00:14:25,280 Speaker 1: us a possible scenarios for the opening bill tomorrow morning. 309 00:14:26,040 --> 00:14:28,120 Speaker 2: Yeah, it's interesting. So I don't know that this is 310 00:14:28,160 --> 00:14:30,400 Speaker 2: a president that ever keeps anything close to the vest. 311 00:14:30,680 --> 00:14:34,080 Speaker 2: He doesn't have very many unexpressed thoughts He's honest, truth, 312 00:14:34,120 --> 00:14:36,480 Speaker 2: social pretty much all day long. So I don't know 313 00:14:36,520 --> 00:14:38,400 Speaker 2: that we get any surprises. I think this is just 314 00:14:38,440 --> 00:14:40,560 Speaker 2: a different, more formal way for him to give us 315 00:14:40,800 --> 00:14:42,920 Speaker 2: the lay of the land and where we stand. There's 316 00:14:42,960 --> 00:14:45,360 Speaker 2: been all sorts of proclamations coming out of him about 317 00:14:45,360 --> 00:14:47,960 Speaker 2: what's going on in the war. It's clear that he 318 00:14:47,960 --> 00:14:50,080 Speaker 2: would like to find an exit ramp, So I think 319 00:14:50,080 --> 00:14:51,880 Speaker 2: that'll be the key theme here. I think that's what 320 00:14:52,000 --> 00:14:54,040 Speaker 2: the market has been playing into for the last couple 321 00:14:54,080 --> 00:14:56,280 Speaker 2: of days. Where we know who we need to talk 322 00:14:56,320 --> 00:14:59,080 Speaker 2: to to execute that. We just know that we're pretty 323 00:14:59,080 --> 00:15:01,520 Speaker 2: far apart what it is that we take for either 324 00:15:01,600 --> 00:15:04,480 Speaker 2: side to walk away from this. That said, he may 325 00:15:04,520 --> 00:15:06,480 Speaker 2: well talk about what's going on the Supreme Court today, 326 00:15:06,520 --> 00:15:09,520 Speaker 2: and then he was at the Supreme Court listening to 327 00:15:10,360 --> 00:15:16,920 Speaker 2: the opening arguments for the the objection, Yeah, the objection 328 00:15:17,000 --> 00:15:20,440 Speaker 2: to the citizenship, and he may have some thoughts on that, 329 00:15:20,520 --> 00:15:22,840 Speaker 2: and then, like I said, he never has any express thoughts. 330 00:15:22,920 --> 00:15:25,680 Speaker 2: I think in general, with the midterms creeping up, in 331 00:15:25,760 --> 00:15:29,160 Speaker 2: a war that's not that popular, he may well try 332 00:15:29,200 --> 00:15:31,840 Speaker 2: to talk about you know, it looks like we're you know, 333 00:15:31,880 --> 00:15:34,800 Speaker 2: two or three weeks away and we've accomplished almost everything 334 00:15:34,800 --> 00:15:36,440 Speaker 2: we need to. But I think what we need to 335 00:15:36,440 --> 00:15:38,520 Speaker 2: hear him say is he's not going to leave the 336 00:15:38,560 --> 00:15:41,360 Speaker 2: region unless and until we get the straight of horror 337 00:15:41,360 --> 00:15:44,320 Speaker 2: moves opened up, because it's important to everybody. You can't 338 00:15:44,360 --> 00:15:46,360 Speaker 2: just walk away from my ran and then leave that 339 00:15:46,440 --> 00:15:48,880 Speaker 2: close because you haven't fixed the problem that is now 340 00:15:48,880 --> 00:15:51,240 Speaker 2: facing us, which is going to be those higher energy prices. 341 00:15:51,440 --> 00:15:53,080 Speaker 3: All right, what about the oil names here? 342 00:15:53,360 --> 00:15:56,000 Speaker 1: And I'm all right at any specific places are hagan 343 00:15:56,000 --> 00:15:57,800 Speaker 1: where you are putting money now into where and taking 344 00:15:57,840 --> 00:15:58,400 Speaker 1: off the table. 345 00:15:59,240 --> 00:16:00,840 Speaker 2: That's a great question, Frank, And I'm going to tell 346 00:16:00,840 --> 00:16:03,160 Speaker 2: you the energy names have had such a significant run, 347 00:16:03,360 --> 00:16:06,760 Speaker 2: the best performing sector in the SPFF HUNDUD, the best 348 00:16:06,800 --> 00:16:10,080 Speaker 2: we've seen them do in years. So just be careful 349 00:16:10,120 --> 00:16:12,960 Speaker 2: with some of those names. If you've waited this long 350 00:16:13,080 --> 00:16:15,280 Speaker 2: to get into the energy space, I think you'll have 351 00:16:15,320 --> 00:16:17,960 Speaker 2: time if we get some resolution. We go from you know, 352 00:16:18,200 --> 00:16:19,920 Speaker 2: WTR with at sixty five dollars, when the start I 353 00:16:19,960 --> 00:16:21,640 Speaker 2: got as high as one hundred and fifteen dollars, it's 354 00:16:21,640 --> 00:16:23,960 Speaker 2: back down one hundred dollars. You know, if this pulls 355 00:16:24,000 --> 00:16:25,840 Speaker 2: back and it settles in a range of sixty five 356 00:16:25,880 --> 00:16:28,600 Speaker 2: to seventy five dollars, and we have a pursuit pullback 357 00:16:28,640 --> 00:16:31,080 Speaker 2: an energy and I think they're all attractive here. I 358 00:16:31,080 --> 00:16:33,960 Speaker 2: would lean more into the North American E and P 359 00:16:34,160 --> 00:16:36,520 Speaker 2: names like a Devon Energy or the multinationals like a 360 00:16:36,640 --> 00:16:38,880 Speaker 2: Chevron two are our favorite names. But I don't think 361 00:16:38,880 --> 00:16:40,280 Speaker 2: it's the time to jump in right now because I 362 00:16:40,280 --> 00:16:42,800 Speaker 2: think there's more downside risk. I think if there's asymmetric 363 00:16:42,880 --> 00:16:45,000 Speaker 2: crisk of the downside, if in fact we get some 364 00:16:45,080 --> 00:16:48,240 Speaker 2: resolution away from that. Though, with energy haven't been the 365 00:16:48,720 --> 00:16:50,600 Speaker 2: best performing sector, so the two of the worst performing 366 00:16:50,640 --> 00:16:52,840 Speaker 2: sectors that we really like here, technology has done none 367 00:16:52,880 --> 00:16:54,200 Speaker 2: of them. When we talked about that a little bit. 368 00:16:54,240 --> 00:16:56,320 Speaker 2: I think there's a lot of technology names that are 369 00:16:56,320 --> 00:16:59,640 Speaker 2: throwing off some amazingly low valuations. And away from that, 370 00:16:59,680 --> 00:17:01,520 Speaker 2: I think the financials is probably one of the other 371 00:17:01,560 --> 00:17:04,360 Speaker 2: worst performing sectors for a lot of reasons. A lot 372 00:17:04,359 --> 00:17:07,760 Speaker 2: of them probably start to dissipate when this war is over, 373 00:17:07,840 --> 00:17:09,960 Speaker 2: so I think they're sitting in a perfect place. We 374 00:17:10,080 --> 00:17:12,359 Speaker 2: just talked about the potential for a bike IPO. I 375 00:17:12,400 --> 00:17:14,080 Speaker 2: think there's gound be a lot more of those. I 376 00:17:14,080 --> 00:17:16,040 Speaker 2: think answer straights we go back to a steeper curve. 377 00:17:16,240 --> 00:17:19,840 Speaker 2: I certainly think less, a lighter regulatory touch helps them, 378 00:17:19,960 --> 00:17:22,800 Speaker 2: and I think an active capital markets calendar is going 379 00:17:22,840 --> 00:17:25,280 Speaker 2: to help the financial So my two favorites right now 380 00:17:25,280 --> 00:17:27,840 Speaker 2: will be technology and financials coming out of this. Be 381 00:17:27,960 --> 00:17:30,480 Speaker 2: careful with energy because it does have room to give 382 00:17:30,520 --> 00:17:32,240 Speaker 2: back some of those early games. I don't think they're 383 00:17:32,240 --> 00:17:33,560 Speaker 2: going to give them all back, and I think they'll 384 00:17:33,560 --> 00:17:35,920 Speaker 2: be at buying opportunity. But wait for energy to get 385 00:17:36,000 --> 00:17:38,719 Speaker 2: settled back into that sort of sixty to seventy dollars range. 386 00:17:38,880 --> 00:17:41,440 Speaker 1: Fantastic guard. Looking forward to seeing you out here soon. 387 00:17:41,560 --> 00:17:43,440 Speaker 1: Are you going to be out here for the investory 388 00:17:43,480 --> 00:17:46,080 Speaker 1: conference pretty soon? That that's coming up in the next 389 00:17:46,320 --> 00:17:46,920 Speaker 1: month or zone? 390 00:17:47,600 --> 00:17:49,359 Speaker 2: Yeah, it's right around a corner. It's alays a pleasure 391 00:17:49,359 --> 00:17:50,719 Speaker 2: to see you when I'm out there. I will certainly 392 00:17:50,720 --> 00:17:52,400 Speaker 2: be there and let you buy. 393 00:17:52,200 --> 00:17:55,440 Speaker 1: Me lunch, all right, maybe dinner too. Are you're terrific, 394 00:17:55,480 --> 00:17:57,280 Speaker 1: Thank you very very much. Look forward to seeing you 395 00:17:57,320 --> 00:18:00,400 Speaker 1: back here. That is veteran market strategist Art Hoook, chief 396 00:18:00,440 --> 00:18:03,159 Speaker 1: market strategist at b Riley Wealth Management, which happens to 397 00:18:03,200 --> 00:18:05,480 Speaker 1: be based right here in Southern California. Live with this 398 00:18:05,600 --> 00:18:08,719 Speaker 1: year on Motech on Money on seven ninety KBC. Motech 399 00:18:08,760 --> 00:18:12,720 Speaker 1: of Money continues seven ninety KBC. Good afternoon. We have 400 00:18:12,840 --> 00:18:15,720 Speaker 1: liftoff for Urnamiss and for the stock market today. The 401 00:18:15,720 --> 00:18:18,359 Speaker 1: Dow two hundred and twenty four points sailing at forty 402 00:18:18,400 --> 00:18:20,399 Speaker 1: six thousand and five sixty six, the S and P 403 00:18:20,560 --> 00:18:23,560 Speaker 1: five hundred and forty seven at sixty five seventy five, 404 00:18:23,680 --> 00:18:26,359 Speaker 1: the NASDAG of two fifty at twenty one thousand and 405 00:18:26,400 --> 00:18:27,160 Speaker 1: eight forty one. 406 00:18:27,760 --> 00:18:29,400 Speaker 3: No April fool's joe here, yep. 407 00:18:29,440 --> 00:18:32,639 Speaker 1: They all moved higher, and this after the eleven hundred 408 00:18:33,040 --> 00:18:36,080 Speaker 1: point jump for the Dow just yesterday. So stock's on 409 00:18:36,119 --> 00:18:39,360 Speaker 1: a roll this week as we kick off the well 410 00:18:39,440 --> 00:18:41,960 Speaker 1: the second quarter and the month of April. The Voltholi 411 00:18:42,000 --> 00:18:44,280 Speaker 1: index pulling back three percent today, the yield and the 412 00:18:44,280 --> 00:18:46,600 Speaker 1: tenure note down four point three to two percent. The 413 00:18:46,600 --> 00:18:50,160 Speaker 1: price of oil WTI, that's the quote in New York 414 00:18:50,400 --> 00:18:52,240 Speaker 1: just below one hundred dollars now at ninety eight to 415 00:18:52,359 --> 00:18:55,439 Speaker 1: ninety rentcruit in London still above one hundred dollars of 416 00:18:55,520 --> 00:18:58,960 Speaker 1: barrel right now, Gold at forty seven hundred and eighty 417 00:18:59,000 --> 00:19:03,520 Speaker 1: seven and change over at seventy five forty, Elon Musk 418 00:19:03,600 --> 00:19:07,000 Speaker 1: SpaceX confidentially filing for an initial public stock offering with 419 00:19:07,080 --> 00:19:10,680 Speaker 1: the Securities and Exchange Commission, according to CNBC, bringing Elon 420 00:19:10,760 --> 00:19:13,399 Speaker 1: Musk Rocket Company one step closer to what's expected to 421 00:19:13,440 --> 00:19:18,359 Speaker 1: be a record public offering. Bloomberg reported on SpaceX's confidential filing, 422 00:19:18,400 --> 00:19:21,040 Speaker 1: citing people familiar with the situation and adding that the 423 00:19:21,080 --> 00:19:24,360 Speaker 1: company could seek evaluation of one point seventy five trillion 424 00:19:24,400 --> 00:19:28,640 Speaker 1: dollars with a listing around June. The Artemis program, led 425 00:19:28,640 --> 00:19:32,800 Speaker 1: by NASA and private partners including Lockheed Martin Boeing building 426 00:19:32,800 --> 00:19:36,320 Speaker 1: the SLS rocket and Orion spacecraft, returned humans to the Moon. 427 00:19:36,359 --> 00:19:38,160 Speaker 1: We saw the lift off less than an hour ago. 428 00:19:38,880 --> 00:19:43,040 Speaker 1: Key manufacturers include Aerojet, Rocket Dyme, North Grumman, and SpaceX, 429 00:19:43,040 --> 00:19:47,240 Speaker 1: Blue Origin with their landing systems also part of this program. 430 00:19:47,560 --> 00:19:51,040 Speaker 1: Mottackle Money continued seven ninety KABC just an hour ago. 431 00:19:51,119 --> 00:19:53,480 Speaker 1: Spectacular launch and the artem Is two mission from M. 432 00:19:53,520 --> 00:19:57,040 Speaker 1: Kennedy Space Center in Florida. Liftoff occurred at three thirty 433 00:19:57,080 --> 00:20:00,439 Speaker 1: five pm Los Angeles times six thirty five pm on 434 00:20:00,480 --> 00:20:03,000 Speaker 1: the Florida Space Coast. There, the Artemis two mission is 435 00:20:03,080 --> 00:20:06,439 Speaker 1: underway with NASA's lunar fly around by four astronauts, the 436 00:20:06,440 --> 00:20:07,120 Speaker 1: first trip to. 437 00:20:07,080 --> 00:20:08,480 Speaker 3: The Moon in fifty three years. 438 00:20:09,119 --> 00:20:11,919 Speaker 1: The Space Launch System rocket blasted off from the Kennedy 439 00:20:12,000 --> 00:20:16,639 Speaker 1: Space Center in Florida, Artemis astronauts Reed Wiseman, Victor Glover Junior, 440 00:20:16,720 --> 00:20:21,000 Speaker 1: Christina Cook and Jeremy Hanson hurtling several thousand miles beyond 441 00:20:21,000 --> 00:20:23,280 Speaker 1: the Moon on this mission. As I heard of the scribe, 442 00:20:23,280 --> 00:20:24,600 Speaker 1: the will be hanging in a U turn and then 443 00:20:24,640 --> 00:20:27,320 Speaker 1: come straight back. No circling around the Moon, no stopping 444 00:20:27,320 --> 00:20:29,920 Speaker 1: for a moonwalk, just a quick out and back, lasting 445 00:20:30,359 --> 00:20:32,880 Speaker 1: about ten days. The four astronauts heading to the Moon 446 00:20:32,920 --> 00:20:35,800 Speaker 1: have reached the orbit the plan now and they'll circle 447 00:20:35,840 --> 00:20:39,160 Speaker 1: the Earth for about twenty five hours before cantapaulting toward 448 00:20:39,240 --> 00:20:44,080 Speaker 1: the Moon. Very exciting day today, and a special watch 449 00:20:44,119 --> 00:20:46,840 Speaker 1: party right here in southern California. Let's go live now 450 00:20:46,920 --> 00:20:49,879 Speaker 1: to the Columbia Memorial Space Center in Downey, where there 451 00:20:49,960 --> 00:20:52,480 Speaker 1: was a joyous watch party there for today's launch just 452 00:20:52,520 --> 00:20:55,320 Speaker 1: about an hour ago. And the executive director of the 453 00:20:55,320 --> 00:20:58,359 Speaker 1: center is Benjamin Dicko, who's joining us live here this afternoon. 454 00:20:58,760 --> 00:21:00,720 Speaker 1: Thank you very much for making the call on this 455 00:21:01,000 --> 00:21:01,840 Speaker 1: historic day today. 456 00:21:02,600 --> 00:21:03,960 Speaker 4: Absolutely, thank you for having me. 457 00:21:04,320 --> 00:21:08,080 Speaker 1: Very exciting day there. Tell Us, how was it watching 458 00:21:08,119 --> 00:21:08,840 Speaker 1: that launch today? 459 00:21:10,160 --> 00:21:12,040 Speaker 4: It was very exciting. I think everybody in the room 460 00:21:12,080 --> 00:21:14,520 Speaker 4: felt like they were little kids again, even the kids 461 00:21:14,520 --> 00:21:16,920 Speaker 4: that were in the room. It was packed. We had 462 00:21:17,720 --> 00:21:20,040 Speaker 4: a couple hundred people at least packed into our first 463 00:21:20,040 --> 00:21:23,920 Speaker 4: floor and it was just exciting, electric and everybody's happy 464 00:21:23,960 --> 00:21:24,320 Speaker 4: to be there. 465 00:21:24,760 --> 00:21:27,600 Speaker 1: That is really wonderful. And all of this happening at 466 00:21:27,600 --> 00:21:29,680 Speaker 1: a place a lot of people may not even know about. 467 00:21:29,720 --> 00:21:32,920 Speaker 1: And we honor the memory of the Columbia astronauts who 468 00:21:32,920 --> 00:21:35,520 Speaker 1: were lost aboard the shuttle Columbia, which was the flagship 469 00:21:35,520 --> 00:21:37,560 Speaker 1: of the Space Shuttle fleet, and of course, at the 470 00:21:37,560 --> 00:21:40,280 Speaker 1: same time, we honored the memory of the Challenger astronauts 471 00:21:40,280 --> 00:21:43,440 Speaker 1: who were lost forty years ago this year. And I 472 00:21:43,440 --> 00:21:44,639 Speaker 1: don't know if you know this, but I used to 473 00:21:44,720 --> 00:21:46,760 Speaker 1: do all of the Space Shuttle launches for the CBS 474 00:21:46,880 --> 00:21:50,560 Speaker 1: Radio network for six years, including many launches of Colombia 475 00:21:50,600 --> 00:21:53,240 Speaker 1: as well as Challenger, including that terrible to day there 476 00:21:53,240 --> 00:21:56,440 Speaker 1: at the Kennedy Space Center. So oh, thank god, thank god. 477 00:21:56,720 --> 00:21:59,600 Speaker 1: Everything seemed to go very well so far on this flight. 478 00:22:00,080 --> 00:22:03,280 Speaker 1: Tell Us about the historical significance of you of your 479 00:22:03,320 --> 00:22:04,280 Speaker 1: wonderful center there. 480 00:22:05,040 --> 00:22:07,280 Speaker 4: Oh well, well, thanks for asking, and that's great that 481 00:22:07,320 --> 00:22:10,360 Speaker 4: you were your space fan. That's that's awesome. So are 482 00:22:10,359 --> 00:22:14,080 Speaker 4: we Well, the Space Center is located in Downey, California, 483 00:22:14,400 --> 00:22:17,719 Speaker 4: which is we're on the location where NASA built all 484 00:22:17,800 --> 00:22:20,480 Speaker 4: the Apollo capsules that went to the Moon fifty years 485 00:22:20,480 --> 00:22:23,200 Speaker 4: ago and all the space shuttles. So we are named 486 00:22:23,200 --> 00:22:26,080 Speaker 4: after the Columbia Shuttle as the national memorial to that 487 00:22:26,160 --> 00:22:29,479 Speaker 4: shuttle and the astronauts and the mission. So we're at 488 00:22:29,560 --> 00:22:32,720 Speaker 4: Space Museum and hands on science learning center. We are, 489 00:22:32,840 --> 00:22:37,359 Speaker 4: you know, on a launch trajectory ourselves. We do a 490 00:22:37,400 --> 00:22:42,480 Speaker 4: ton of science, technology, engineering, and math educational programs. But really, 491 00:22:42,560 --> 00:22:44,880 Speaker 4: you know, today was all about really honoring the fact 492 00:22:44,880 --> 00:22:47,240 Speaker 4: that we're going back to the Moon. We were doing 493 00:22:47,320 --> 00:22:50,520 Speaker 4: it in the place where all those capsules from up 494 00:22:50,560 --> 00:22:52,440 Speaker 4: the Apollo era were designed and built and went to 495 00:22:52,480 --> 00:22:56,640 Speaker 4: the Moon again. And really Oriyan Capsule, which are taking 496 00:22:56,640 --> 00:22:59,119 Speaker 4: those astronauts at the Moon right now, is a combination 497 00:22:59,240 --> 00:23:02,359 Speaker 4: between our two products, between the Apollo capsule and the 498 00:23:02,359 --> 00:23:05,639 Speaker 4: Space shttle. It's basically a large Apollo capsule that's covered 499 00:23:05,680 --> 00:23:08,680 Speaker 4: with those those heat tiles that were covering the Space Shutle. 500 00:23:09,640 --> 00:23:12,280 Speaker 4: So we're really excited to see some of our technology 501 00:23:12,320 --> 00:23:13,120 Speaker 4: going back to the Moon. 502 00:23:13,800 --> 00:23:14,760 Speaker 3: That is very exciting. 503 00:23:14,880 --> 00:23:17,520 Speaker 1: And all this happening in the context what appears to 504 00:23:17,560 --> 00:23:20,879 Speaker 1: be a renaissance of aerospace here in Southern California, with 505 00:23:21,000 --> 00:23:23,840 Speaker 1: of course SpaceX is still on the scene here and 506 00:23:24,440 --> 00:23:27,399 Speaker 1: launches out of Vandenberg Space Force Base and out of 507 00:23:27,400 --> 00:23:30,440 Speaker 1: the Kennedy Space Center in Florida, and all of these 508 00:23:30,480 --> 00:23:35,879 Speaker 1: new rocket companies coming up. Big exciting time for space 509 00:23:35,960 --> 00:23:39,199 Speaker 1: exploration and for aerospace here in Southern California. 510 00:23:39,600 --> 00:23:43,399 Speaker 4: That's for sure. I mean, Southern California has been historically 511 00:23:43,520 --> 00:23:46,720 Speaker 4: the center of aerospace in the country, even though the 512 00:23:46,800 --> 00:23:50,160 Speaker 4: launch has happened mostly in Florida and things like that, 513 00:23:50,200 --> 00:23:53,760 Speaker 4: but the technology, the building, the manufacturing takes place in 514 00:23:53,760 --> 00:23:56,119 Speaker 4: Southern California for the most part. We still have the 515 00:23:56,119 --> 00:23:58,879 Speaker 4: most companies, and yes, like you said, sort of the 516 00:23:58,960 --> 00:24:01,800 Speaker 4: new age of space private companies, most of them are 517 00:24:01,800 --> 00:24:04,240 Speaker 4: based down here. It's a great place to be a 518 00:24:04,280 --> 00:24:06,760 Speaker 4: space fan. And actually it's really great for a space 519 00:24:06,840 --> 00:24:10,000 Speaker 4: museum that everybody's really a space. 520 00:24:10,480 --> 00:24:11,840 Speaker 3: We need to let people know about it. 521 00:24:12,200 --> 00:24:14,280 Speaker 1: Where are you guys located, tell us more about the museum, 522 00:24:14,320 --> 00:24:17,080 Speaker 1: How many people were there today to see the launch, 523 00:24:17,160 --> 00:24:19,399 Speaker 1: and are you having other events during the course of 524 00:24:19,400 --> 00:24:20,359 Speaker 1: this ten day flight. 525 00:24:21,240 --> 00:24:23,400 Speaker 4: We are, all right, so we have. Today we had 526 00:24:23,440 --> 00:24:27,000 Speaker 4: about well over three hundred people packed in who at 527 00:24:27,080 --> 00:24:28,960 Speaker 4: least our first floor. We kind of lost count after 528 00:24:29,000 --> 00:24:34,040 Speaker 4: a little bit of time, but yeah, that's there's a 529 00:24:34,080 --> 00:24:36,720 Speaker 4: great day. And then we're going to do another sort 530 00:24:36,760 --> 00:24:39,359 Speaker 4: of landing party in ten days once the crew comes back, 531 00:24:40,000 --> 00:24:42,280 Speaker 4: so we'll be able to share that with everybody and 532 00:24:42,320 --> 00:24:45,159 Speaker 4: kind of be a place where everybody convene and and 533 00:24:45,200 --> 00:24:47,280 Speaker 4: you share these sort of big events together. I think 534 00:24:47,280 --> 00:24:51,600 Speaker 4: that's the biggest deal. And yeah, we're we're located in Downey, California, 535 00:24:51,960 --> 00:24:54,480 Speaker 4: basically right right where the one oh five and the 536 00:24:54,560 --> 00:24:58,800 Speaker 4: seven to ten come together. It's one two four zero 537 00:24:58,880 --> 00:25:04,360 Speaker 4: zero Columbia Way, and we're open Tuesday through Saturday ten 538 00:25:04,400 --> 00:25:06,879 Speaker 4: am to five pm. And like I said, we've got it. 539 00:25:07,440 --> 00:25:10,080 Speaker 4: It's a full science museum. We're open every day or 540 00:25:10,240 --> 00:25:13,200 Speaker 4: those days, and we do programs all over the place 541 00:25:13,200 --> 00:25:15,680 Speaker 4: in southern California, but it's days like today that really 542 00:25:15,760 --> 00:25:18,800 Speaker 4: kind of reignite all of us who work there. You know, 543 00:25:18,840 --> 00:25:22,120 Speaker 4: our excitement about what we do every day. The fact 544 00:25:22,160 --> 00:25:24,960 Speaker 4: that we can share a historic launch like this with 545 00:25:25,080 --> 00:25:27,240 Speaker 4: so many people in our building, it's just a it's 546 00:25:27,280 --> 00:25:27,920 Speaker 4: just a great thing. 547 00:25:28,560 --> 00:25:29,440 Speaker 3: That is fantastic. 548 00:25:29,440 --> 00:25:32,680 Speaker 1: Well, and certainly share any excitement with you, and we're 549 00:25:32,720 --> 00:25:35,080 Speaker 1: gonna let people know about it. That's absolutely fantastic. And 550 00:25:35,400 --> 00:25:38,480 Speaker 1: of course among the crew aboard this Artemis flying is 551 00:25:38,560 --> 00:25:41,520 Speaker 1: Victor Glover Junior, a Pomona native who attended Ontario High 552 00:25:41,560 --> 00:25:44,920 Speaker 1: School and cal Poly sant Luis Obisbo. As you've been 553 00:25:44,920 --> 00:25:47,440 Speaker 1: by there yet and you're planning to invite him. 554 00:25:48,280 --> 00:25:51,200 Speaker 4: I'm absolutely planning to invite him. In fact, we've talked 555 00:25:51,240 --> 00:25:53,480 Speaker 4: about trying to get in touch with him before the launch, 556 00:25:53,560 --> 00:25:55,920 Speaker 4: but now that he's now that he's there, we absolutely 557 00:25:55,960 --> 00:25:57,320 Speaker 4: have to have him back. You know, Pomone is not 558 00:25:57,359 --> 00:25:59,960 Speaker 4: that far away from Downy, it's only what about thirty miles. 559 00:26:00,040 --> 00:26:03,120 Speaker 4: We can make it happen and it's great. It's again, 560 00:26:03,160 --> 00:26:06,440 Speaker 4: it's like it's another sort of mark that Southern California 561 00:26:06,480 --> 00:26:09,959 Speaker 4: is this hotbed of space exploration, space work. To have 562 00:26:09,960 --> 00:26:12,800 Speaker 4: one of those astronauts hometown soun that's pretty great. 563 00:26:13,400 --> 00:26:16,080 Speaker 1: That is terrific, And are you connected to any of 564 00:26:16,119 --> 00:26:19,720 Speaker 1: the other universities here, what would you consider locally the 565 00:26:20,040 --> 00:26:23,280 Speaker 1: best for aerospace and for aspiring astronauts. 566 00:26:24,080 --> 00:26:26,760 Speaker 4: Oh my gosh, I am not gonna play favorites. There's 567 00:26:26,800 --> 00:26:30,560 Speaker 4: so so I Actually a good good stat is Ellie 568 00:26:30,560 --> 00:26:33,240 Speaker 4: County graduates the most engineers of any other place in 569 00:26:33,240 --> 00:26:36,000 Speaker 4: the country. So you really can't go wrong in most 570 00:26:36,040 --> 00:26:39,000 Speaker 4: of the schools that are down here. And really, you know, 571 00:26:39,160 --> 00:26:41,959 Speaker 4: we're we take all of this space stuff and all 572 00:26:42,000 --> 00:26:44,040 Speaker 4: the space excitement and we turn it into things that 573 00:26:44,119 --> 00:26:47,360 Speaker 4: inspire the next generation. We really want, you know, that 574 00:26:47,480 --> 00:26:50,080 Speaker 4: excitement from today to be happening every day with the 575 00:26:50,080 --> 00:26:53,960 Speaker 4: young people in southern California. So, you know, anyone who's 576 00:26:54,000 --> 00:26:57,000 Speaker 4: interested in getting into science, technology, engineering, and math, anyone 577 00:26:57,080 --> 00:26:59,919 Speaker 4: who has an inkling to it, will be more than 578 00:27:00,080 --> 00:27:03,159 Speaker 4: happy to you know, cheerlead them to whatever school they 579 00:27:03,200 --> 00:27:05,719 Speaker 4: want to go to. You know, cal Tech is fantastic, 580 00:27:06,160 --> 00:27:08,600 Speaker 4: Ucla is great. All of these schools are really great. 581 00:27:08,720 --> 00:27:13,639 Speaker 4: Sam u Obispo is fantastic, even you Pomona. But we really, 582 00:27:13,680 --> 00:27:16,760 Speaker 4: you know, we're all about trying to use sort of 583 00:27:16,760 --> 00:27:19,160 Speaker 4: the past of space and kind of launch people into 584 00:27:19,160 --> 00:27:22,000 Speaker 4: the future of it. And so you know, whether they 585 00:27:22,040 --> 00:27:24,720 Speaker 4: go to any school, if they're going to be if 586 00:27:24,720 --> 00:27:27,120 Speaker 4: they want to be a part of this new space uh, 587 00:27:27,240 --> 00:27:30,760 Speaker 4: you know space phenomenon where they're from. We're there to 588 00:27:30,760 --> 00:27:31,160 Speaker 4: help them. 589 00:27:31,600 --> 00:27:33,800 Speaker 1: That's exciting. And a lot of STEM groups. Her STEM 590 00:27:33,840 --> 00:27:36,479 Speaker 1: advantage of being one of them help people come up 591 00:27:36,640 --> 00:27:42,040 Speaker 1: in the in the science, technology, education, and force in 592 00:27:42,119 --> 00:27:44,560 Speaker 1: the LA by the way, is also the largest manufacturing 593 00:27:44,600 --> 00:27:47,080 Speaker 1: region in the United States and the aerospace is a 594 00:27:47,200 --> 00:27:48,959 Speaker 1: very big part of that. So you play a very 595 00:27:48,960 --> 00:27:52,000 Speaker 1: important role in all this on the education front. I 596 00:27:52,000 --> 00:27:54,640 Speaker 1: would I like to think so absolutely. Yeah, anything else 597 00:27:54,680 --> 00:27:56,280 Speaker 1: you'd like to mention? How long have you been open? 598 00:27:56,320 --> 00:28:00,040 Speaker 1: There that the Columbia Memorial to Space Enter Smart. 599 00:28:00,200 --> 00:28:03,520 Speaker 4: A good, good question. We open in two thousand and nine, 600 00:28:04,080 --> 00:28:07,360 Speaker 4: so we just uh, we just celebrated our fifteenth diniversary 601 00:28:07,400 --> 00:28:10,440 Speaker 4: actually a couple of years ago, and uh, and we're here, 602 00:28:10,680 --> 00:28:13,280 Speaker 4: you know, we're here for educating the next generation of 603 00:28:13,280 --> 00:28:16,600 Speaker 4: people and you know, for and for their families. You know, 604 00:28:16,640 --> 00:28:20,600 Speaker 4: we put on like you were saying about STEM education programs. 605 00:28:20,640 --> 00:28:22,639 Speaker 4: We have a Girls in STEM club that's based at 606 00:28:22,640 --> 00:28:25,919 Speaker 4: the Space Center. We do outreach programs to schools and 607 00:28:25,920 --> 00:28:29,600 Speaker 4: other groups. We put on La County's Science Festival, which 608 00:28:29,640 --> 00:28:31,440 Speaker 4: is called City of Stem and that's happening on April 609 00:28:31,480 --> 00:28:36,080 Speaker 4: twenty sixth, the next World pub uh And we're also expanding. 610 00:28:36,160 --> 00:28:38,720 Speaker 4: We have a brand new building that we're starting construction 611 00:28:38,840 --> 00:28:42,280 Speaker 4: on which we'll have the first space shuttle ever built 612 00:28:42,320 --> 00:28:46,320 Speaker 4: in it. Actually, And so we're you know, we are. 613 00:28:46,800 --> 00:28:50,040 Speaker 4: We're a full service place where people can you know, 614 00:28:50,320 --> 00:28:54,479 Speaker 4: celebrate science, technology and and sort of find other people 615 00:28:54,560 --> 00:28:57,840 Speaker 4: to to enjoy all of that and then get inspired. 616 00:28:57,920 --> 00:28:58,760 Speaker 4: That's what we're hoping for. 617 00:28:59,120 --> 00:29:01,880 Speaker 1: That's thanks for making it special for everybody there today 618 00:29:01,920 --> 00:29:04,400 Speaker 1: and it's a fantastic to connect with you. Hope to 619 00:29:04,400 --> 00:29:07,280 Speaker 1: be over there someday, very very soon and they look 620 00:29:07,280 --> 00:29:07,560 Speaker 1: forward to. 621 00:29:07,560 --> 00:29:08,120 Speaker 3: Meeting you base. 622 00:29:08,440 --> 00:29:09,920 Speaker 4: You have to come down, yeah, no. 623 00:29:09,960 --> 00:29:13,720 Speaker 1: Question about that. That is Benjamin Dicko, the executive director 624 00:29:13,840 --> 00:29:17,320 Speaker 1: of the Columbia Memorial Space Center, located in Downy. Thank 625 00:29:17,320 --> 00:29:19,200 Speaker 1: you very much for joining us live here on this 626 00:29:19,320 --> 00:29:22,040 Speaker 1: historic day with the Artemis two mission underway, live here 627 00:29:22,080 --> 00:29:24,720 Speaker 1: on Motech on Money on seven ninety KBC. Motech of 628 00:29:24,760 --> 00:29:28,680 Speaker 1: Money continues here seven ninety KABC. More struggles in commercial 629 00:29:28,720 --> 00:29:32,120 Speaker 1: real estate, especially in the downtown Los Angeles area. The 630 00:29:32,120 --> 00:29:34,640 Speaker 1: deal to buy the so called Graffiti Towers the Ocean 631 00:29:34,640 --> 00:29:37,800 Speaker 1: Wide project in downtown Los Angeles might have hit a 632 00:29:37,800 --> 00:29:41,040 Speaker 1: snag as the buyer faces some resistance and a confirmation 633 00:29:41,160 --> 00:29:43,640 Speaker 1: hearing to seal the deal has been pushed back. Let's 634 00:29:43,680 --> 00:29:45,760 Speaker 1: get an update on all that now from Jerry Sullivan, 635 00:29:45,880 --> 00:29:49,280 Speaker 1: National managing editor at The Real Deal, commercial real estate 636 00:29:49,360 --> 00:29:53,760 Speaker 1: news source and the authoritative website realdeal dot com. Jerry, 637 00:29:53,760 --> 00:29:55,960 Speaker 1: thank you very much for taking the call here. I 638 00:29:55,960 --> 00:29:58,440 Speaker 1: know you've been following this story in this saga for 639 00:29:58,800 --> 00:30:01,400 Speaker 1: quite some time. Give us the latest on what's happening 640 00:30:01,400 --> 00:30:03,080 Speaker 1: there with Graffiti Hours. 641 00:30:03,720 --> 00:30:05,320 Speaker 5: Yeah, it's good to be with you, Frank, and you 642 00:30:05,360 --> 00:30:08,880 Speaker 5: know it's it's certainly a snag at a minimum. I 643 00:30:08,880 --> 00:30:12,320 Speaker 5: think has been at least three objections filed to the 644 00:30:12,440 --> 00:30:16,880 Speaker 5: plan by KPC, which is led by an investor named 645 00:30:16,960 --> 00:30:22,000 Speaker 5: Collie Chowdery and lend Lea's, their partners on the bid 646 00:30:22,040 --> 00:30:26,760 Speaker 5: for the property and a bankruptcy sale. The US Trustee 647 00:30:27,600 --> 00:30:30,480 Speaker 5: and the bankruptcy proceeding has filed an objection, and so 648 00:30:30,600 --> 00:30:33,000 Speaker 5: has the City of Los Angeles and the County of 649 00:30:33,040 --> 00:30:36,000 Speaker 5: Los Angeles, which is old I think around forty million 650 00:30:36,040 --> 00:30:40,280 Speaker 5: dollars in back taxes, and so the hearing has been delayed. 651 00:30:40,280 --> 00:30:44,440 Speaker 5: It does look as though there are genuine concerns about 652 00:30:44,520 --> 00:30:50,400 Speaker 5: the ability of the KPC to execute this deal and 653 00:30:50,760 --> 00:30:53,640 Speaker 5: also the manner in which they've presented themselves. And so 654 00:30:54,080 --> 00:30:56,320 Speaker 5: we'll see where it goes. But you know, I would 655 00:30:56,360 --> 00:30:58,920 Speaker 5: not this is nowhere near a done deal at this point. 656 00:30:59,520 --> 00:31:03,520 Speaker 1: What's the objection? Is it collecting the bank taxes or 657 00:31:03,600 --> 00:31:05,920 Speaker 1: what's the what's the main objection and what do you 658 00:31:05,960 --> 00:31:07,440 Speaker 1: see as the big issue here? 659 00:31:08,280 --> 00:31:13,640 Speaker 5: Well, to take the tax UH factor as an example, 660 00:31:14,040 --> 00:31:17,320 Speaker 5: I believe the county's contention as we had an agreement 661 00:31:17,400 --> 00:31:21,400 Speaker 5: with the developer who went bankrupt that UH, which is 662 00:31:21,440 --> 00:31:24,400 Speaker 5: ocean wide in China, that we would have first call 663 00:31:25,600 --> 00:31:27,720 Speaker 5: right and any and any settlement that we would get 664 00:31:27,760 --> 00:31:31,239 Speaker 5: the the tax money off the top. And now I 665 00:31:31,280 --> 00:31:35,600 Speaker 5: think this deal is UH is not reflecting that arrangement, 666 00:31:36,120 --> 00:31:39,680 Speaker 5: and so I think that's the gist of the counties objection. 667 00:31:40,080 --> 00:31:42,680 Speaker 5: And there are various others from this again, the city 668 00:31:42,720 --> 00:31:46,080 Speaker 5: and the trustee, and you add it all up and 669 00:31:46,160 --> 00:31:48,640 Speaker 5: it's a bit of a tangled mess, and none of 670 00:31:48,680 --> 00:31:52,840 Speaker 5: it you know, looks real encouraging about now. Maybe they 671 00:31:52,920 --> 00:31:56,840 Speaker 5: get it sorted out in the delay gives them time 672 00:31:56,880 --> 00:31:59,200 Speaker 5: to do that, But it doesn't look. 673 00:31:59,120 --> 00:32:02,720 Speaker 1: Encouraging right in the meantime. It looks like a mess still. 674 00:32:02,840 --> 00:32:04,560 Speaker 1: I was at the Lakers game the other night, and 675 00:32:04,600 --> 00:32:06,240 Speaker 1: I hope you got the pictures I sent you. What 676 00:32:06,280 --> 00:32:09,800 Speaker 1: that place looks like. Nothing happening there, those three high 677 00:32:09,880 --> 00:32:14,440 Speaker 1: rise condo towers of unfinished. The retail space there right 678 00:32:14,440 --> 00:32:17,720 Speaker 1: across from Crypto dot com arena is still a big 679 00:32:17,760 --> 00:32:21,440 Speaker 1: ice sore and nothing happening there. And any more insight 680 00:32:21,520 --> 00:32:24,239 Speaker 1: on if they if this deal does go through, are 681 00:32:24,240 --> 00:32:26,920 Speaker 1: they going to try to finish that project, to tear 682 00:32:26,960 --> 00:32:28,719 Speaker 1: it down or what are their plans? 683 00:32:30,200 --> 00:32:32,960 Speaker 5: Well, first, I appreciate the photos always, Frank, and you've 684 00:32:33,080 --> 00:32:35,200 Speaker 5: you know, you've been on this from day one, and 685 00:32:35,480 --> 00:32:38,120 Speaker 5: thanks for keeping up on it. And you know it 686 00:32:38,160 --> 00:32:41,440 Speaker 5: is it is today what it was six months ago, 687 00:32:41,480 --> 00:32:42,880 Speaker 5: and a year ago and a year and a half ago. 688 00:32:43,680 --> 00:32:48,400 Speaker 5: It's a mess. The the KCP bid, Lunley's bid as 689 00:32:48,400 --> 00:32:51,320 Speaker 5: indicated the day planned to go go ahead and finish 690 00:32:51,360 --> 00:32:55,920 Speaker 5: it as planned. That makes some sense because the things 691 00:32:56,240 --> 00:32:58,680 Speaker 5: I think more than halfway through the construction process, so 692 00:32:58,760 --> 00:33:01,920 Speaker 5: not that easy to change. It doesn't make sense from 693 00:33:01,920 --> 00:33:03,240 Speaker 5: the point of view. It called for a lot of 694 00:33:03,280 --> 00:33:07,280 Speaker 5: retail and hotel, neither of which is in great demand, 695 00:33:07,840 --> 00:33:10,680 Speaker 5: you know, for editions in downtown Los Angeles right now. 696 00:33:11,080 --> 00:33:16,880 Speaker 5: So you know again that I think I cited that 697 00:33:16,960 --> 00:33:20,840 Speaker 5: as one of the areas of that I found out 698 00:33:20,840 --> 00:33:23,400 Speaker 5: impressive about the bid when we talked about this last 699 00:33:24,040 --> 00:33:26,840 Speaker 5: and you know, at that point I said this could 700 00:33:26,880 --> 00:33:30,560 Speaker 5: get shaky, and indeed it has gotten, I think, very shaky. 701 00:33:31,080 --> 00:33:33,800 Speaker 1: Appreciate that, and you called it right out of the gate. 702 00:33:33,840 --> 00:33:36,520 Speaker 1: Here is and we'll continue to follow it. In the meantime. 703 00:33:36,720 --> 00:33:40,520 Speaker 1: Even Rick Caruso did a social media posting recently experiencing 704 00:33:40,560 --> 00:33:43,840 Speaker 1: concern about what's happening in downtown Los Angeles on the 705 00:33:43,920 --> 00:33:48,160 Speaker 1: real estate and just general conditions regarding a crime and homelessness. 706 00:33:48,440 --> 00:33:50,760 Speaker 1: Give us an update on what else is happening in 707 00:33:50,800 --> 00:33:53,520 Speaker 1: the downtown LA area as far as the commercial real 708 00:33:53,640 --> 00:33:57,840 Speaker 1: estate's concerned. The more buildings going into foreclosure and so forth. 709 00:33:57,840 --> 00:34:02,960 Speaker 5: They see, Yeah, the Webbors building, which is rather prominent 710 00:34:03,040 --> 00:34:06,000 Speaker 5: in it's a one thousand whel shure, it sits anyone 711 00:34:06,040 --> 00:34:08,080 Speaker 5: who's going up and down the one ten you know 712 00:34:08,800 --> 00:34:14,200 Speaker 5: would recognize it. That's headed to foreclosure, and it looks like, 713 00:34:14,280 --> 00:34:18,160 Speaker 5: you know, its value is just plummeted. I think it's 714 00:34:18,400 --> 00:34:21,080 Speaker 5: either around sixty million. At any rate it comes to 715 00:34:21,880 --> 00:34:25,240 Speaker 5: I think one hundred and twentyeth square foot. That's class 716 00:34:25,320 --> 00:34:29,040 Speaker 5: A downtown property. So you know, it's been bumping along 717 00:34:29,440 --> 00:34:32,000 Speaker 5: and actually that's down. We were kind of bumping around 718 00:34:32,320 --> 00:34:34,760 Speaker 5: one hundred and fiftieth square foot and now it seems 719 00:34:34,800 --> 00:34:38,880 Speaker 5: to be dipping a little further and uh, you know 720 00:34:39,000 --> 00:34:43,239 Speaker 5: it's uh, it's an area concern. The Manual Life just 721 00:34:43,239 --> 00:34:48,640 Speaker 5: decided to put the TCW tower up for sale. They 722 00:34:48,640 --> 00:34:51,120 Speaker 5: want to sell it to the DWP, which I got 723 00:34:51,120 --> 00:34:53,960 Speaker 5: to scratch my head why the DWP would be buying 724 00:34:54,000 --> 00:34:57,000 Speaker 5: another tower. It's got the John Ferraro building, you know, 725 00:34:57,080 --> 00:35:00,480 Speaker 5: up on Hope Street. But at any rate that one, 726 00:35:00,960 --> 00:35:03,960 Speaker 5: you know, ninety three million, again around one hundred and 727 00:35:04,000 --> 00:35:07,640 Speaker 5: twenty five a square foot. I guess the good news 728 00:35:07,680 --> 00:35:11,280 Speaker 5: is if these deals go through, these buildings get sold, 729 00:35:11,600 --> 00:35:15,160 Speaker 5: there are buyers, there is a you know at this point, 730 00:35:15,200 --> 00:35:19,760 Speaker 5: I guess a floor, but it's awfully low. So again, 731 00:35:19,880 --> 00:35:23,439 Speaker 5: not a lot of real good news to be had 732 00:35:24,360 --> 00:35:26,400 Speaker 5: on commercial real estate in downtown LA. 733 00:35:26,440 --> 00:35:29,400 Speaker 1: Isn't that something the web Bush center of facing foreclosure? 734 00:35:29,400 --> 00:35:32,600 Speaker 1: That's is that owned by Cerberus? Is that the Is 735 00:35:32,640 --> 00:35:33,960 Speaker 1: that the real estate company that does it? 736 00:35:34,040 --> 00:35:38,960 Speaker 5: Yeah, it's an alternative asset manager. I think in our 737 00:35:39,280 --> 00:35:42,040 Speaker 5: Atlna Bulchers broke that story today. But that, yeah, that 738 00:35:42,200 --> 00:35:42,680 Speaker 5: is the owner. 739 00:35:42,760 --> 00:35:46,839 Speaker 1: Yes, all right, but and I understand Webbush has moved 740 00:35:46,840 --> 00:35:49,239 Speaker 1: out of that building, right, I think they moved to Pasadena. 741 00:35:49,360 --> 00:35:51,719 Speaker 1: So as this is our article here, I just pulled 742 00:35:51,760 --> 00:35:54,680 Speaker 1: it up here. Trouble comes after the namesake tenant moved 743 00:35:54,680 --> 00:35:58,800 Speaker 1: out to Value Haircut and Loan Landing and Special Servicing. 744 00:35:58,920 --> 00:36:02,560 Speaker 1: So that landmark building in downtown Los Angeles now facing 745 00:36:02,600 --> 00:36:06,640 Speaker 1: foreclosure after a one hundred million dollar plus default as 746 00:36:06,840 --> 00:36:10,600 Speaker 1: reported by The Real Deal. Anything else that's catching your attention? 747 00:36:10,680 --> 00:36:13,440 Speaker 1: What is the occupancy looking like in the downtown LA 748 00:36:13,480 --> 00:36:14,480 Speaker 1: area at the moment. 749 00:36:15,880 --> 00:36:18,000 Speaker 5: I think the vacancy is so, you know, riding around 750 00:36:18,000 --> 00:36:24,920 Speaker 5: thirty percent. And that's again you know, Class A, Class B, 751 00:36:25,080 --> 00:36:27,279 Speaker 5: Class C. I'm sure they're all slightly different, but I 752 00:36:27,320 --> 00:36:31,640 Speaker 5: think overall the thirty percent is probably you know, pretty 753 00:36:31,640 --> 00:36:34,279 Speaker 5: good for across the board. The Class A of the 754 00:36:34,280 --> 00:36:38,120 Speaker 5: financial district. I think book Field alone, you know, has 755 00:36:38,800 --> 00:36:41,920 Speaker 5: twenty percent of the square footage there. It's in distress 756 00:36:42,360 --> 00:36:45,760 Speaker 5: and so you know, again it's it's just not vibrant 757 00:36:46,760 --> 00:36:49,920 Speaker 5: and and I don't see much on the horizon to 758 00:36:49,960 --> 00:36:50,880 Speaker 5: lift it at this point. 759 00:36:51,280 --> 00:36:53,960 Speaker 1: And we're still waiting for the pantry to reopen. That 760 00:36:54,080 --> 00:36:56,719 Speaker 1: was supposed to happen already, but last time I drove 761 00:36:56,719 --> 00:36:58,200 Speaker 1: by there it has not yet opened. 762 00:36:59,000 --> 00:37:00,920 Speaker 3: Jerry Solvan Well. 763 00:37:00,760 --> 00:37:03,319 Speaker 5: And restaurants are tough, and they're notorious in La that 764 00:37:03,920 --> 00:37:06,920 Speaker 5: you know, the best uh as Vin Scully used to say, right, 765 00:37:06,960 --> 00:37:11,839 Speaker 5: the best laid plans of mice and men. The I've 766 00:37:12,400 --> 00:37:14,680 Speaker 5: you rarely see a restaurant in La open when they 767 00:37:15,000 --> 00:37:18,440 Speaker 5: you know, when they announced an opening date. Uh, all 768 00:37:18,520 --> 00:37:20,880 Speaker 5: kinds of stuff comes up on inspections, this, that and 769 00:37:20,960 --> 00:37:24,879 Speaker 5: the other. So I'm sure Leo's Postolnikov has that place now, 770 00:37:25,080 --> 00:37:27,400 Speaker 5: so I'm sure he's pulling his hair out and uh, 771 00:37:27,719 --> 00:37:30,440 Speaker 5: but know on Leo, I think he'll get it open. 772 00:37:30,320 --> 00:37:30,839 Speaker 3: Sooner or later. 773 00:37:31,000 --> 00:37:34,520 Speaker 1: The meantime, Colds has closed that other landmark restaurant looks 774 00:37:34,560 --> 00:37:36,920 Speaker 1: like that one's is a shut down. So a lot 775 00:37:36,960 --> 00:37:39,000 Speaker 1: going on in downtown Jerry, always great to have you 776 00:37:39,040 --> 00:37:41,720 Speaker 1: with us. Thank you very much for that comprehensive update. 777 00:37:41,719 --> 00:37:44,759 Speaker 1: As always, Jerry Sullivan, National Managing editor or the Real 778 00:37:44,800 --> 00:37:48,160 Speaker 1: Deal commercial real estate news source at therealdeal dot com. 779 00:37:48,200 --> 00:37:50,719 Speaker 1: Live with us here on Motech on Money on seven 780 00:37:50,840 --> 00:37:51,640 Speaker 1: ninety KBC