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Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.
Speaker 1: I'm Charlie Pellet of Thedal, the smp NEZ dec called Advancing.
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Speaker 1: Now over to the first Word Breaking news desk for
Speaker 1: today's afternoon call. Here, he's Bill Maloney. Good afternoon, Charlie.
Speaker 1: Man U. Savages are gaining today, with the Dow currently
Speaker 1: hired by sixty five point, SIPs game seven and AzaC
Speaker 1: rises sixteen, the small cap six hundred rises seven points,
Speaker 1: and the US ten yield at one point seven per cent.
Speaker 1: Eight out of tennesse B sectors are higher, led by
Speaker 1: games and materials, consumer staples, and the industrials. Energy and
Speaker 1: telecom fell down, Transports jump forty one, as a BI
Speaker 1: text drop two points, and the VIX is little change
Speaker 1: doll Leaders to the upside include United Health Group, Caterpillar,
Speaker 1: and Visa, while Chevron and Verizon led to the downside.
Speaker 1: A K Steel jump nineteen percent, Create Sweete upgraded to
Speaker 1: outperform Vera Phone plunge twenty four percent after its earnings,
Speaker 1: while Lulu Lemon gained as much as five point four
Speaker 1: percent after its results. Restoration Hardware reports After the Bell
Speaker 1: Live from the First Breaking News Desk on Bill Maloney. Charlie,
Speaker 1: all right, thank you very much, Bill Maloney, and to
Speaker 1: hear live breaking news over your Bloomberg Times squawk ask
Speaker 1: you you a w K on your terminal. I'm Charlie
Speaker 1: Pellett and that's a Bloomberg Business flash. You're listening to
Speaker 1: Stock with Kathleen pim Fox on Bloomberg Radio. Just the
Speaker 1: last month, the Orange County Tourism Development Board in Florida
Speaker 1: approved a three million dollar worth of hotel tax revenues
Speaker 1: in order to bring the NFL to Central Florida. And
Speaker 1: here to tell us more about that effort and the
Speaker 1: economy and development of central Florida is Orange County Mayor
Speaker 1: Teresa Jacobs. Thank you very much for being here. Oh,
Speaker 1: thank you so much for having me. What was it like?
Speaker 1: I think it was last Wednesday that you were able
Speaker 1: to finally announce that the NFL the Pro Bowl is
Speaker 1: coming to Orlando. It was absolutely thrilling. I can't tell
Speaker 1: you how excited our community is about hosting the Pro Bowl.
Speaker 1: And I think you're gonna see an entire Orlando UM
Speaker 1: scene just come alive over this, as well as as
Speaker 1: the whole nation of course, but I think locally it's
Speaker 1: gonna be phenomenal for us, so uh, Mayor Jacobs. It's
Speaker 1: been in Hawaii for a long time. You get it
Speaker 1: for I believe three years. Do you do you really
Speaker 1: will it make a difference to the Pro Bowl itself
Speaker 1: to have it here? I mean, it's not going to
Speaker 1: change the players necessarily or will How do you think
Speaker 1: that synergy is going to work to tybbe even not
Speaker 1: just help Orlando, but take the Pro Bowl to another level? Oh?
Speaker 1: I think it's I think it absolutely is. One of
Speaker 1: the reasons that the NFL was so interested in the
Speaker 1: Orlando area is that they want to They want an
Speaker 1: environment where their players are anxious to come and bring
Speaker 1: their families and um make make a bit of a
Speaker 1: vacation out of it at the same time. So UM
Speaker 1: they see it as a tremendous draw to get the
Speaker 1: players UM re engaged and very interested in showing up
Speaker 1: for Pro Bowl. So I think it's going to help
Speaker 1: the games. I think it's going to help the viewership,
Speaker 1: and of course I think it's going to help our
Speaker 1: local economy and um, more than anything, it's gonna be
Speaker 1: a lot of fun. Tell us a little bit about infrastructure,
Speaker 1: because I note that toll roads. For example, this is
Speaker 1: the toll road capital of the United States, and you've
Speaker 1: got more planned. Tell us about the relationship between toll
Speaker 1: roads and infrastructure. Well, we do have a lot of
Speaker 1: toll roads. I sit on the Toll Authority, and UM,
Speaker 1: we have a lot of toll roads because quite frankly,
Speaker 1: we're a newer city and a lot of the growth
Speaker 1: that we've experienced in the last fifteen or twenty years
Speaker 1: has come after the time when the federal government was
Speaker 1: investing so much into major transportation UM highways. So we've
Speaker 1: done a lot of that and we've paid for it locally. UM.
Speaker 1: In addition to our toll roads, though, we have about
Speaker 1: five billion dollars worth of transportation improvements that are in
Speaker 1: the pipeline or just recently completed. So I think that
Speaker 1: that's pretty phenomenal, UM in in this day and age
Speaker 1: right now, when you look at um UH regions and
Speaker 1: cities our size to have so much going on, from
Speaker 1: um massive renovations and expansion of our airport to our
Speaker 1: convention center, to um A sun Rail commuter rail system,
Speaker 1: and um and and major highways. You know, you were
Speaker 1: elected mayor in November, re elected your second term. You
Speaker 1: were two term Orange County commissioner. Uh. You had a
Speaker 1: career in banking, yes, I did. Yeah, what got you
Speaker 1: the politics? What made you decide you want to do this? Actually, UM,
Speaker 1: it's gonna sound a little trite, but it was a
Speaker 1: road through my neighborhood. The county decided to put a
Speaker 1: road through my neighborhood. UM. I didn't like that so much.
Speaker 1: UM and got engaged and began to understand that little
Speaker 1: government plays a tremendous role in our quality of life
Speaker 1: and our property values. And UM thought, why not take
Speaker 1: the background I had in finance and banking, in um
Speaker 1: municipal bonds and trading financial futures and apply that in
Speaker 1: the public arena. And I've loved it. Now you talked
Speaker 1: about the quality of life for just a second, and
Speaker 1: I want to give you an opportunity to explain. You
Speaker 1: testified recently in Washington about an epidemic that is afflicting
Speaker 1: many municipalities in the United States. Tell us about this absolutely.
Speaker 1: I think it's still shocking to so many people to
Speaker 1: learn that we have a heroin epidemic. UM. It is
Speaker 1: not it's not equally profound in each cities, but there
Speaker 1: are targeted areas UM some in the Northwest, on the
Speaker 1: west coast of the United States, and UM some places
Speaker 1: in Florida, including Central Florida that we're really seeing m
Speaker 1: incredibly cheap and extremely dangerous, deadly strains of last five
Speaker 1: deaths last year, death last year, increase over the last
Speaker 1: several years, so UM a profound increase. UM. I think
Speaker 1: that people don't realize that heroin has become so much
Speaker 1: easier to get so cheap, so cheap and so deadly
Speaker 1: and UM. And when I was growing up, the only
Speaker 1: people who used heroin UM were those people that were
Speaker 1: really really extreme drug abusers. UM. And today we're finding
Speaker 1: it to be more and more unfortunately acceptable. If you
Speaker 1: look at the bottom line, there's a human cost. I
Speaker 1: guess there's also the cost of dealing with these people.
Speaker 1: As as a mayor of a major city, what is
Speaker 1: what is the cost of what's the benefit of stopping this, Well,
Speaker 1: there's a there's a huge human toll um absolutely, and
Speaker 1: the addiction costs um are are pretty phenomenal. But not
Speaker 1: treating it is is a cost too great for society
Speaker 1: like ours to um to bear. So I think that's
Speaker 1: the reason we've approached the federal government for additional support.
Speaker 1: That's the reason we're working with so many other jurisdictions
Speaker 1: across the country to create awareness, to prevent the addiction
Speaker 1: in the first place, and to help treat those who
Speaker 1: are addicted. Very few people are addicted to heroin because
Speaker 1: they want to be addicted. Most people UM stumble onto
Speaker 1: the use. Maybe they've been on pain killers and suddenly
Speaker 1: they couldn't get the pain killers anymore and they found
Speaker 1: themselves addicted. Teresa Jacob, I'd like to talk to you today.
Speaker 1: Thank you for joining us. Oh, thank you so much
Speaker 1: for having us. She is the mayor of Orange County
Speaker 1: here in Florida. We're live at Pershing's Insight sixteen conference
Speaker 1: at the Higher Regency in Orlando. I'm Kathleen Hayes along
Speaker 1: with Pim Fox, and this is Bloomberg Radio. Bloomberg Taking
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