1 00:00:02,920 --> 00:00:10,600 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,640 --> 00:00:14,560 Speaker 1: Bloomberg Balance of Power podcast. Catch Just Live weekdays at 3 00:00:14,560 --> 00:00:17,119 Speaker 1: noon Eastern on Appo, CarPlay, and then Roun Auto with 4 00:00:17,160 --> 00:00:20,320 Speaker 1: the Bloomberg Business app. Listen on demand wherever you get 5 00:00:20,360 --> 00:00:25,360 Speaker 1: your podcasts, or watch us live on YouTube. 6 00:00:30,840 --> 00:00:35,239 Speaker 2: I Love You. Day two of the convention. Delegates recovering 7 00:00:35,280 --> 00:00:37,840 Speaker 2: from a very late night in that hall as Joe 8 00:00:37,840 --> 00:00:42,280 Speaker 2: Biden delivered his address that went late, described as emotional, 9 00:00:42,320 --> 00:00:46,560 Speaker 2: he did wipe a tear during a very long standing ovation. Kayleie, 10 00:00:46,560 --> 00:00:49,239 Speaker 2: that was the moment that many in this administration had 11 00:00:49,280 --> 00:00:51,880 Speaker 2: been waiting for, and of course tease up Kamala Harris 12 00:00:52,159 --> 00:00:54,400 Speaker 2: for her acceptance speech on Thursday night. 13 00:00:54,600 --> 00:00:56,440 Speaker 3: Yeah, and of course before we can get there, there's 14 00:00:56,440 --> 00:00:58,960 Speaker 3: more speakers lined up this evening. We'll be hearing from 15 00:00:58,960 --> 00:01:02,040 Speaker 3: both Obama's President Barack Obama and his wife, the former 16 00:01:02,040 --> 00:01:05,319 Speaker 3: First Lady Michelle Obama, and the second Gentleman, Doug Mhoff 17 00:01:05,360 --> 00:01:07,680 Speaker 3: will be speaking here in Chicago at the United Center 18 00:01:07,760 --> 00:01:10,840 Speaker 3: this evening, but at the same time, Kamala Harrison Tim 19 00:01:10,880 --> 00:01:13,240 Speaker 3: Walls will actually not even be in the state of Illinois. 20 00:01:13,240 --> 00:01:16,320 Speaker 3: They're heading to Milwaukee to Wisconsin and the Pfizer Forum, 21 00:01:16,520 --> 00:01:18,760 Speaker 3: which of course was the scene of the Republican National 22 00:01:18,760 --> 00:01:19,600 Speaker 3: Convention last month. 23 00:01:19,680 --> 00:01:23,080 Speaker 2: Yeah, a little interesting bit of programming. They are spending 24 00:01:23,120 --> 00:01:25,839 Speaker 2: every night in Chicago, but leaving town for this one 25 00:01:26,319 --> 00:01:30,440 Speaker 2: day two with the theme a bold Vision for America's 26 00:01:30,600 --> 00:01:34,880 Speaker 2: future as the Democratic Party tries to deliver the message 27 00:01:35,080 --> 00:01:36,320 Speaker 2: that they're turning the page. 28 00:01:36,800 --> 00:01:38,920 Speaker 3: Yeah, and the question is to what extent will they 29 00:01:38,920 --> 00:01:42,399 Speaker 3: have success doing so in this pact convention week. Bloomberg's 30 00:01:42,400 --> 00:01:45,080 Speaker 3: Hadrian Loan chron is here with us in Chicago covering 31 00:01:45,080 --> 00:01:47,760 Speaker 3: it all along with our wonderful team of Bloomberg reporters, 32 00:01:47,800 --> 00:01:50,720 Speaker 3: and she's joining us now here on set. So obviously 33 00:01:50,760 --> 00:01:54,560 Speaker 3: there is a lot of pumped circumstance surrounding this. We 34 00:01:54,600 --> 00:01:56,400 Speaker 3: will see that again this evening. What we will not 35 00:01:56,520 --> 00:01:58,800 Speaker 3: see is Harrison Walls in the box where they were 36 00:01:59,320 --> 00:02:01,520 Speaker 3: last night. Can you just walk us through the thinking 37 00:02:01,560 --> 00:02:04,920 Speaker 3: of the campaign here? To not be present on nighte 38 00:02:04,920 --> 00:02:06,960 Speaker 3: two of the convention when so many members of the 39 00:02:06,960 --> 00:02:08,600 Speaker 3: party are taking the Florida speak. 40 00:02:08,720 --> 00:02:11,280 Speaker 4: Right, it does seem a little odd, especially when you 41 00:02:11,360 --> 00:02:14,000 Speaker 4: compare things to I was in the RNC in Milwaukee 42 00:02:14,000 --> 00:02:15,600 Speaker 4: and Trump was there pretty much the whole week. 43 00:02:15,800 --> 00:02:17,080 Speaker 3: But again, I think this really. 44 00:02:16,880 --> 00:02:19,200 Speaker 4: Goes to the point where the Harris campaign really really 45 00:02:19,280 --> 00:02:22,600 Speaker 4: feels they are the underdog. They're not taking anything for granted. 46 00:02:22,600 --> 00:02:25,480 Speaker 4: And so yes, they're out campaigning. They were in Pennsylvania 47 00:02:26,120 --> 00:02:29,120 Speaker 4: before the convention began, they're heading Milwaukee, they're hitting the 48 00:02:29,160 --> 00:02:29,600 Speaker 4: swing stats. 49 00:02:29,639 --> 00:02:30,639 Speaker 3: And I think that also. 50 00:02:30,560 --> 00:02:33,560 Speaker 4: Comes as important to note that this comes as Trump 51 00:02:33,560 --> 00:02:36,120 Speaker 4: will be doing a lot of counterprogramming this week, hitting 52 00:02:36,160 --> 00:02:38,560 Speaker 4: several swing stats and making a visit to the border 53 00:02:38,760 --> 00:02:41,600 Speaker 4: in Arizona. So again, the Trump campaign is trying to 54 00:02:41,600 --> 00:02:44,560 Speaker 4: make that contrast. So the Harri's campaign is still saying, here, 55 00:02:45,160 --> 00:02:47,760 Speaker 4: we're traveling, we're hitting the swing stats, swing states, we're 56 00:02:47,800 --> 00:02:49,280 Speaker 4: not taking our voters for granted. 57 00:02:49,639 --> 00:02:52,520 Speaker 2: Well, it is also fair to say that in the 58 00:02:52,560 --> 00:02:54,960 Speaker 2: past you might not see the nominee until the final 59 00:02:55,040 --> 00:02:56,959 Speaker 2: night of the convention. But we'll see how this plays 60 00:02:56,960 --> 00:02:58,520 Speaker 2: out this evening. Do you want to ask you about 61 00:02:58,560 --> 00:03:00,919 Speaker 2: Joe Biden last night? There's been a lot of talk 62 00:03:00,960 --> 00:03:03,079 Speaker 2: about run of show, the fact that he didn't get 63 00:03:03,120 --> 00:03:06,359 Speaker 2: on TV sets on the East Coast or computer screens 64 00:03:06,720 --> 00:03:11,440 Speaker 2: until eleven thirty at night. That was an interesting moment 65 00:03:12,080 --> 00:03:14,320 Speaker 2: for him, a very emotional one. How come it went 66 00:03:14,400 --> 00:03:14,960 Speaker 2: so late. 67 00:03:15,480 --> 00:03:16,960 Speaker 3: Well, that's a great question. 68 00:03:17,040 --> 00:03:19,880 Speaker 4: We know that a lot of the speeches did run 69 00:03:19,919 --> 00:03:21,720 Speaker 4: pretty long. We know that a lot of it also 70 00:03:21,919 --> 00:03:25,160 Speaker 4: came from the fans in the arena. I mean, you know, 71 00:03:25,240 --> 00:03:30,480 Speaker 4: Hillary Clinton minutes three, four or five minutes before they 72 00:03:30,480 --> 00:03:35,200 Speaker 4: were speaking, before she was set to speak, just roaring applause, 73 00:03:35,200 --> 00:03:37,360 Speaker 4: and so the crowd is very energized. We also know 74 00:03:37,440 --> 00:03:40,760 Speaker 4: that they were protests out kind of during the events 75 00:03:40,760 --> 00:03:43,000 Speaker 4: that took place earlier on in the evening. We know 76 00:03:43,080 --> 00:03:44,560 Speaker 4: that that was kind of cited as one of the 77 00:03:44,600 --> 00:03:46,280 Speaker 4: reasons for a bit of the delays. They did have 78 00:03:46,320 --> 00:03:48,720 Speaker 4: to move some things around, and you know, people were nervous. 79 00:03:48,720 --> 00:03:52,640 Speaker 4: Biden has tended to not do as well the later 80 00:03:52,760 --> 00:03:55,160 Speaker 4: in the evening events have taken place. We know this 81 00:03:55,240 --> 00:03:57,960 Speaker 4: is reminiscent of the late night debate. But you know, 82 00:03:58,040 --> 00:04:00,680 Speaker 4: he was able to speak for nearly an hour. 83 00:04:01,320 --> 00:04:01,880 Speaker 5: I think he. 84 00:04:02,080 --> 00:04:04,720 Speaker 4: Did what he needed to do. He was tiery. You know, 85 00:04:04,760 --> 00:04:07,720 Speaker 4: this is a very bittersweet moment for him. It's very 86 00:04:07,880 --> 00:04:10,680 Speaker 4: non traditional. Passing the reins over to Harris and he 87 00:04:10,760 --> 00:04:13,080 Speaker 4: spoke a bit about his record, but he also did 88 00:04:13,120 --> 00:04:15,000 Speaker 4: say he was ready to be I think the quote 89 00:04:15,080 --> 00:04:18,080 Speaker 4: was he's ready to be the best volunteer for the 90 00:04:18,160 --> 00:04:20,880 Speaker 4: Harris Wolves campaign. And you know, to your point earlier 91 00:04:20,880 --> 00:04:23,159 Speaker 4: about the weird kind of Harris Iman, Harris did actually 92 00:04:23,160 --> 00:04:25,600 Speaker 4: make as a prize appearance on Tuesday. I'm on Monday, 93 00:04:25,640 --> 00:04:28,320 Speaker 4: and we are again excited. Everyone is ready to see 94 00:04:28,320 --> 00:04:32,080 Speaker 4: her on Thursday. Tip to you know, formally accept the nomination. 95 00:04:32,360 --> 00:04:34,240 Speaker 3: But when we think about Harris being in that room 96 00:04:34,279 --> 00:04:36,919 Speaker 3: with President Biden speaking last night, someone who wasn't physically 97 00:04:36,920 --> 00:04:38,719 Speaker 3: in the room, but very much was, it felt like 98 00:04:38,760 --> 00:04:41,120 Speaker 3: the center point of the majority of the speeches is 99 00:04:41,160 --> 00:04:44,240 Speaker 3: the former president Donald Trump. Joe Biden mentioned him by 100 00:04:44,320 --> 00:04:50,359 Speaker 3: name probably dozens of times. Realistically, Trump himself is counterprogramming 101 00:04:50,480 --> 00:04:53,280 Speaker 3: this convention too. He's going to be in Michigan today. 102 00:04:53,320 --> 00:04:56,840 Speaker 3: What is the Trump campaign strategy as Democrats try to 103 00:04:56,839 --> 00:04:58,920 Speaker 3: put on the show of unity Republicans were trying to 104 00:04:58,920 --> 00:05:00,159 Speaker 3: put on in Milwaukee, list. 105 00:05:00,600 --> 00:05:03,480 Speaker 4: They're really trying to get Harris to do some more 106 00:05:03,600 --> 00:05:07,279 Speaker 4: unscripted settings. We know that everyone speaking throughout the convention 107 00:05:07,360 --> 00:05:10,480 Speaker 4: has a teleprompter. This is something that the Trump campaign 108 00:05:10,600 --> 00:05:13,360 Speaker 4: is really hoping to kind of good Harris into taking 109 00:05:13,360 --> 00:05:16,039 Speaker 4: more questions from reporters, doing a sit down interview, which 110 00:05:16,040 --> 00:05:17,600 Speaker 4: she said she would do at the end of the month. 111 00:05:18,160 --> 00:05:21,800 Speaker 4: In addition to Trump himself counter programming throughout the week, 112 00:05:21,920 --> 00:05:24,680 Speaker 4: he has surrogates who are here in Chicago every day 113 00:05:24,720 --> 00:05:27,200 Speaker 4: holding a press conference where they themselves are taking questions. 114 00:05:27,240 --> 00:05:31,720 Speaker 4: I wish they're on Monday. And I think the important 115 00:05:31,920 --> 00:05:35,160 Speaker 4: kind of contrast here is again they're trying to say 116 00:05:35,240 --> 00:05:37,799 Speaker 4: they acknowledge the polling that there has been a bump 117 00:05:37,800 --> 00:05:41,200 Speaker 4: and enthusiasm. The campaign is saying they expected that, they 118 00:05:41,240 --> 00:05:43,560 Speaker 4: think that a plateau has been reached, and now they're 119 00:05:43,560 --> 00:05:45,400 Speaker 4: thinking the more that voters will get a chance to 120 00:05:45,440 --> 00:05:48,640 Speaker 4: see Harris, the more that enthusiasm will wane and they 121 00:05:48,640 --> 00:05:50,360 Speaker 4: will start to see the Trump campagn will start see 122 00:05:50,360 --> 00:05:52,000 Speaker 4: those numbers go up. So they're hoping that the more 123 00:05:52,000 --> 00:05:54,280 Speaker 4: opportunities there are for Harris to speak to the press, 124 00:05:54,400 --> 00:05:58,159 Speaker 4: maybe trip up when discussing policy, that'll be the place 125 00:05:58,200 --> 00:06:00,600 Speaker 4: where the Trump campaign then can jump in and make 126 00:06:00,720 --> 00:06:01,360 Speaker 4: up some ground. 127 00:06:01,680 --> 00:06:04,800 Speaker 2: We're to be hearing from Donald Trump and Howell Michigan 128 00:06:05,240 --> 00:06:07,520 Speaker 2: a little bit later on today talking about crime. This 129 00:06:07,640 --> 00:06:10,600 Speaker 2: is one of the issues including the economy, a few others, 130 00:06:11,160 --> 00:06:14,720 Speaker 2: the border that pull really well for Republicans. This is 131 00:06:14,720 --> 00:06:17,039 Speaker 2: a message that's been sticking here in a place like Chicago. 132 00:06:17,080 --> 00:06:19,599 Speaker 2: Are you hearing about that from Democrats? Are they acknowledging this? 133 00:06:20,600 --> 00:06:21,640 Speaker 3: Yes, excellent question. 134 00:06:21,680 --> 00:06:24,320 Speaker 4: I mean, crime is definitely something that the Trump campaign 135 00:06:24,360 --> 00:06:26,320 Speaker 4: is working. They're actually using it as a way to say, 136 00:06:26,360 --> 00:06:28,440 Speaker 4: this is their way to get women voters as well, 137 00:06:28,480 --> 00:06:31,000 Speaker 4: which we know they are not having as much luck 138 00:06:31,000 --> 00:06:34,240 Speaker 4: with compared to the Harris campaign. When asked just at 139 00:06:34,240 --> 00:06:37,520 Speaker 4: the press conference the other day about appealing to women voters, 140 00:06:37,520 --> 00:06:40,000 Speaker 4: they pointed to crime and they're focused on that, saying, well, 141 00:06:40,080 --> 00:06:42,480 Speaker 4: women want to feel safe, they want a secure border. 142 00:06:43,040 --> 00:06:44,520 Speaker 3: But in contrast, the. 143 00:06:46,040 --> 00:06:50,680 Speaker 4: Biden Harris campaign, sorry the Harris Walls campaign now, but 144 00:06:50,800 --> 00:06:54,719 Speaker 4: also the Biden Harris administration has also been pointing to 145 00:06:54,720 --> 00:06:57,080 Speaker 4: the border. They've been their main thing. And Biden i 146 00:06:57,120 --> 00:07:00,599 Speaker 4: think mentioned it mundane night, was that they had this 147 00:07:00,720 --> 00:07:03,480 Speaker 4: border bill that's by partisan border bill, and that Trump 148 00:07:03,520 --> 00:07:06,239 Speaker 4: then called up senators and that was why the border 149 00:07:06,279 --> 00:07:10,120 Speaker 4: bill was killed. So Biden pointed to that. The Democrats 150 00:07:10,120 --> 00:07:12,640 Speaker 4: have been pointing to that, So that's kind of their 151 00:07:12,720 --> 00:07:15,160 Speaker 4: you know, counter messaging on the border. 152 00:07:15,400 --> 00:07:17,920 Speaker 3: All right, bloomberg'shdrey On alone and Crown very busy here 153 00:07:18,160 --> 00:07:20,800 Speaker 3: in Chicago. Thank you so much for joining us live 154 00:07:20,840 --> 00:07:23,080 Speaker 3: on Bloomberg TV and Radio. Now, is hedred On talks 155 00:07:23,120 --> 00:07:25,840 Speaker 3: about some of the messaging from President Biden last night 156 00:07:25,880 --> 00:07:28,400 Speaker 3: and also was talking about women in particular. That is 157 00:07:28,440 --> 00:07:31,240 Speaker 3: something that we heard from the incumbent president on the 158 00:07:31,280 --> 00:07:33,960 Speaker 3: issue of diversity, not just for women, but all kinds 159 00:07:33,960 --> 00:07:35,480 Speaker 3: of demographics across America. 160 00:07:37,080 --> 00:07:41,280 Speaker 6: In America where the fucking amount of created this nation, 161 00:07:42,600 --> 00:07:45,520 Speaker 6: all of us are created equal, It's still very much 162 00:07:45,520 --> 00:07:53,120 Speaker 6: alive and abroad. Coalition of Americas joined with me. Eighty 163 00:07:53,320 --> 00:07:58,520 Speaker 6: one million voters voted for us. You are any time 164 00:07:58,600 --> 00:08:03,280 Speaker 6: in all of history because of all of you in 165 00:08:03,320 --> 00:08:06,400 Speaker 6: this room and others. We came together in twenty twenty 166 00:08:06,760 --> 00:08:12,640 Speaker 6: to save democracy. As your President, I've been determined to 167 00:08:12,720 --> 00:08:18,440 Speaker 6: keep American moving forward, not going back to stand against 168 00:08:18,440 --> 00:08:21,960 Speaker 6: Hayden violence in all its forms, to be a nation 169 00:08:22,960 --> 00:08:27,000 Speaker 6: where we not only live with, but thrive on diversity, 170 00:08:28,120 --> 00:08:32,960 Speaker 6: demonize you, no one, leave you, no one behind, and 171 00:08:33,000 --> 00:08:37,120 Speaker 6: becoming a nation that we profess to be. 172 00:08:39,280 --> 00:08:41,760 Speaker 3: For more on that message and this convention as a whole. 173 00:08:42,120 --> 00:08:45,440 Speaker 3: We're joined now by Congressman Catherine Clark of Massachusetts, the 174 00:08:45,480 --> 00:08:48,160 Speaker 3: House Minority, which he's here with us in our studios 175 00:08:48,200 --> 00:08:51,160 Speaker 3: in Chicago. Congressman, thank you so much for being here. 176 00:08:51,240 --> 00:08:52,079 Speaker 7: My pleasure. 177 00:08:52,720 --> 00:08:55,880 Speaker 3: Of course, we heard the President last night referring to diversity, 178 00:08:56,000 --> 00:08:58,360 Speaker 3: talking as we heard many about the big tent in 179 00:08:58,400 --> 00:09:01,560 Speaker 3: the Democratic Party. Is your job in the House to 180 00:09:01,559 --> 00:09:04,760 Speaker 3: bring all those diverse forces together to be singing the 181 00:09:04,800 --> 00:09:07,480 Speaker 3: same song. Can you just walk us through what it 182 00:09:07,520 --> 00:09:10,120 Speaker 3: was like within the membership of the House to line 183 00:09:10,160 --> 00:09:14,080 Speaker 3: everybody up behind what is now the Harris campaign, not 184 00:09:14,160 --> 00:09:15,040 Speaker 3: the Biden campaign. 185 00:09:15,240 --> 00:09:17,680 Speaker 7: I have to say, out of all the tasks I've 186 00:09:17,720 --> 00:09:20,880 Speaker 7: had as a whip in the House for the Democratic Party, 187 00:09:20,920 --> 00:09:26,840 Speaker 7: this was perhaps the easiest. People immediately gravitated to Kamala 188 00:09:26,880 --> 00:09:31,200 Speaker 7: Harris and saw her as our standard bearer for all 189 00:09:31,280 --> 00:09:33,520 Speaker 7: the things that we have worked on with her as 190 00:09:33,640 --> 00:09:37,480 Speaker 7: Vice President and her vision for the future. So whether 191 00:09:37,559 --> 00:09:41,120 Speaker 7: that's lowering costs, whether it is growing the middle class, 192 00:09:41,520 --> 00:09:46,800 Speaker 7: protecting our fundamental freedoms like reproductive freedom, Kamala Harris has 193 00:09:46,840 --> 00:09:52,760 Speaker 7: been our partner. And that was truly just almost instantaneous, 194 00:09:53,120 --> 00:09:58,120 Speaker 7: that movement from President Joe Biden to her candidacy, because 195 00:09:58,160 --> 00:10:00,480 Speaker 7: we knew she was the candidate for the the moment. 196 00:10:00,679 --> 00:10:03,720 Speaker 2: It's a very delicate thing we're witnessing though, and witnessed 197 00:10:04,240 --> 00:10:07,280 Speaker 2: last night to see Joe Biden talking to the delegates there. 198 00:10:07,600 --> 00:10:09,480 Speaker 2: I know it went very late into the evening, but 199 00:10:09,480 --> 00:10:11,920 Speaker 2: the people in the room weren't concerned about the time. 200 00:10:12,520 --> 00:10:14,959 Speaker 2: Obviously it had a rally feel to it, but there 201 00:10:15,000 --> 00:10:20,120 Speaker 2: was a bittersweet emotional feel to this. It happened so fast. Congresswoman, 202 00:10:20,480 --> 00:10:22,160 Speaker 2: how does he feel when you talk to him? What 203 00:10:22,240 --> 00:10:24,439 Speaker 2: kind of emotions was he experiencing? 204 00:10:24,600 --> 00:10:27,320 Speaker 7: You know, I think we saw it on display, a 205 00:10:27,400 --> 00:10:32,160 Speaker 7: true pride. And what has always been a hallmark for 206 00:10:32,360 --> 00:10:37,320 Speaker 7: Joe Biden is his gratitude to be able to serve 207 00:10:37,840 --> 00:10:41,840 Speaker 7: what an incredible quality and a politician and a leader, 208 00:10:42,200 --> 00:10:45,520 Speaker 7: and it is what has made him a transformative president, 209 00:10:46,160 --> 00:10:49,640 Speaker 7: that idea that there is a bigger calling here, that 210 00:10:49,679 --> 00:10:53,880 Speaker 7: the American people are always at the center of his work, 211 00:10:54,000 --> 00:10:58,719 Speaker 7: and it's at the center of this extremely patriotic decision. 212 00:10:59,280 --> 00:11:05,199 Speaker 7: And he deserved every minute of those accolades from the crowd, 213 00:11:05,320 --> 00:11:09,560 Speaker 7: that genuine affection for him, respect for the job, and 214 00:11:09,640 --> 00:11:14,400 Speaker 7: his service, and we look across the aisle at Donald 215 00:11:14,400 --> 00:11:16,520 Speaker 7: Trump and you see. 216 00:11:16,360 --> 00:11:17,480 Speaker 2: The exact opposite. 217 00:11:17,559 --> 00:11:20,960 Speaker 7: He says, Democrats station, it's in one eighty because he 218 00:11:21,120 --> 00:11:26,520 Speaker 7: cannot fathom giving up power for something bigger than himself. 219 00:11:27,000 --> 00:11:30,000 Speaker 7: That is where Donald Trump is. It is always about 220 00:11:30,360 --> 00:11:34,520 Speaker 7: how he will benefit, not how the American people will, 221 00:11:34,920 --> 00:11:39,640 Speaker 7: not how the Democratic Party that is based on values will. 222 00:11:40,240 --> 00:11:43,319 Speaker 7: So I'm sure he is wrestling with this moment, calling 223 00:11:43,360 --> 00:11:46,360 Speaker 7: it a coup because he cannot understand it, because he 224 00:11:46,400 --> 00:11:49,199 Speaker 7: could never do what Joe Biden did well. 225 00:11:49,280 --> 00:11:52,120 Speaker 3: Joe Biden has suggested his decision wasn't even as much 226 00:11:52,120 --> 00:11:54,720 Speaker 3: about his ability to defeat Donald Trump, and instead the 227 00:11:54,760 --> 00:11:58,360 Speaker 3: impact he could have, perhaps detrimentally on House and Senate 228 00:11:59,160 --> 00:12:02,360 Speaker 3: races and the ability for other Democrats to win. What 229 00:12:02,520 --> 00:12:05,920 Speaker 3: has changed for the Democrats' odds of retaking the majority 230 00:12:06,000 --> 00:12:09,040 Speaker 3: in the House since Harris assumed her role as the 231 00:12:09,040 --> 00:12:11,800 Speaker 3: Democratic nominee. How many seats, realistically do you think you 232 00:12:11,840 --> 00:12:12,360 Speaker 3: can pick up? 233 00:12:12,720 --> 00:12:16,199 Speaker 7: You know, I have always been bullish on the Democrats 234 00:12:16,320 --> 00:12:20,440 Speaker 7: retaking the House because what we've seen are do nothing 235 00:12:20,720 --> 00:12:26,199 Speaker 7: at best and real extremism that the American people are rejecting. 236 00:12:26,760 --> 00:12:29,840 Speaker 7: And so what we're seeing is this incredible energy and 237 00:12:29,920 --> 00:12:33,040 Speaker 7: momentum that we are going to turn into action and 238 00:12:33,080 --> 00:12:36,960 Speaker 7: in real time that is meaningful. Our candidates have seen 239 00:12:37,080 --> 00:12:42,120 Speaker 7: a surge in volunteers of small, first time donors. When 240 00:12:42,160 --> 00:12:45,240 Speaker 7: you get that ten to fifteen to twenty dollars donation, 241 00:12:45,640 --> 00:12:46,439 Speaker 7: that's a boat. 242 00:12:46,920 --> 00:12:49,319 Speaker 3: That is a boat of that translate into ten to 243 00:12:49,360 --> 00:12:51,280 Speaker 3: fifteen extra seats in the House. 244 00:12:51,320 --> 00:12:54,320 Speaker 7: Though, well, we certainly hope so. But my number is 245 00:12:54,360 --> 00:12:56,320 Speaker 7: the whip and I like to keep tagging the numbers 246 00:12:56,400 --> 00:12:59,880 Speaker 7: is to eighteen. That's our goal to win that majority 247 00:13:00,040 --> 00:13:03,280 Speaker 7: and be able to bring the voices of everyday people 248 00:13:03,840 --> 00:13:06,480 Speaker 7: back into the process. What we have seen from the 249 00:13:06,520 --> 00:13:11,400 Speaker 7: GOP is this complete focus on their own power, their 250 00:13:11,440 --> 00:13:15,400 Speaker 7: own civil war that they're engaging in, and the American 251 00:13:15,440 --> 00:13:19,360 Speaker 7: people feel like they're outside looking in. What we've continued 252 00:13:19,400 --> 00:13:22,719 Speaker 7: to work with the Biden Harris administration to bring down 253 00:13:22,760 --> 00:13:26,000 Speaker 7: the costs of healthcare, cap insulin at thirty five dollars 254 00:13:26,040 --> 00:13:29,000 Speaker 7: a month, take on big pharma and say it is 255 00:13:29,120 --> 00:13:33,480 Speaker 7: time that people be able to afford their life saving medication. 256 00:13:34,120 --> 00:13:38,800 Speaker 7: Make those investments in climate change that also are great 257 00:13:38,840 --> 00:13:41,959 Speaker 7: for the economy, and all of that work was done 258 00:13:42,120 --> 00:13:46,160 Speaker 7: and brought down our deficit at the same time. These 259 00:13:46,240 --> 00:13:48,600 Speaker 7: are the kind of investments that we are going to 260 00:13:48,640 --> 00:13:52,280 Speaker 7: build upon and continue to help families meet the very 261 00:13:52,280 --> 00:13:58,120 Speaker 7: real challenges they're facing still in this economy. With Kamala Harris. 262 00:13:58,040 --> 00:14:01,280 Speaker 2: The issue of Israelness war against Times has been obviously 263 00:14:01,320 --> 00:14:04,199 Speaker 2: a big one in this campaign in the primary cycle, 264 00:14:04,440 --> 00:14:07,640 Speaker 2: and it's brought some fissures to the Democratic conference in 265 00:14:07,720 --> 00:14:10,600 Speaker 2: the House. We've got tens of thousands of protesters here 266 00:14:10,600 --> 00:14:12,959 Speaker 2: in Chicago that have been part of the story. You've 267 00:14:12,960 --> 00:14:15,240 Speaker 2: also got a couple dozen delegates who are not committed 268 00:14:15,280 --> 00:14:18,600 Speaker 2: for this reason. How important, congresswomen, will it be for 269 00:14:18,840 --> 00:14:22,960 Speaker 2: the Biden administration, the Biden Harris administration to strike a 270 00:14:23,000 --> 00:14:24,840 Speaker 2: ceasefire deal this week? 271 00:14:24,960 --> 00:14:27,560 Speaker 7: You know, it is all hands on deck and they 272 00:14:27,600 --> 00:14:31,200 Speaker 7: are working so hard to make sure that we end 273 00:14:31,240 --> 00:14:34,840 Speaker 7: this war, that we have a ceasefire, that we can 274 00:14:34,920 --> 00:14:39,160 Speaker 7: bring those hostages home, and that we can surge aid 275 00:14:39,600 --> 00:14:43,320 Speaker 7: to Palestinian civilians who, through no fault of their own, 276 00:14:43,760 --> 00:14:49,960 Speaker 7: have suffered horrendously and continue to suffer. So we appreciate 277 00:14:50,040 --> 00:14:53,760 Speaker 7: that there are protesters here, that's part of the democratic process. 278 00:14:54,280 --> 00:14:57,600 Speaker 7: We respect their right to be here, and we hope 279 00:14:57,640 --> 00:14:59,000 Speaker 7: that remains peaceful. 280 00:14:59,320 --> 00:15:00,800 Speaker 2: But it is the goal of. 281 00:15:00,800 --> 00:15:05,240 Speaker 7: The Democratic Party to bring peace and security not only 282 00:15:05,280 --> 00:15:06,920 Speaker 7: to Israel but to the region. 283 00:15:07,440 --> 00:15:09,720 Speaker 3: And of course we know those conversations are ongoing. We'll 284 00:15:09,760 --> 00:15:12,080 Speaker 3: still wait to hear more from hamass to whether or 285 00:15:12,080 --> 00:15:14,520 Speaker 3: not it will agree. I'm also curious the conversations you're 286 00:15:14,560 --> 00:15:18,560 Speaker 3: having related to your everyday job in Washington. Obviously still 287 00:15:18,560 --> 00:15:20,720 Speaker 3: on the August recess, but when you come back in September, 288 00:15:20,760 --> 00:15:22,840 Speaker 3: it's going to be a race against the clock to 289 00:15:22,880 --> 00:15:25,960 Speaker 3: avoid a government shutdown. Are you in conversations already with 290 00:15:26,080 --> 00:15:28,840 Speaker 3: leadership and Republican leadership about how that's going to be 291 00:15:29,200 --> 00:15:31,960 Speaker 3: avoided when you return to Washington in a few weeks, 292 00:15:31,960 --> 00:15:33,920 Speaker 3: What exactly are you going to have to whip you. 293 00:15:33,880 --> 00:15:36,240 Speaker 7: Know, I'm so glad you brought that out because one 294 00:15:36,280 --> 00:15:40,400 Speaker 7: thing we realize from the very start, when we were 295 00:15:40,400 --> 00:15:44,240 Speaker 7: in the fifteen rounds of Kevin McCarthy be trying to 296 00:15:44,280 --> 00:15:48,640 Speaker 7: become a speaker, that we are in the minority. So 297 00:15:48,680 --> 00:15:52,040 Speaker 7: we have reached our hand out to them at every 298 00:15:52,120 --> 00:15:56,359 Speaker 7: turn to say, work with us, help us prevent shutdowns, 299 00:15:56,440 --> 00:15:59,800 Speaker 7: help us get to a budget process that matters. What 300 00:16:00,080 --> 00:16:03,520 Speaker 7: we have seen from them is a rejection of that 301 00:16:04,040 --> 00:16:07,600 Speaker 7: and a move to try and coddle the most extreme 302 00:16:07,720 --> 00:16:12,440 Speaker 7: members of their extreme party. And so it is really 303 00:16:13,040 --> 00:16:17,600 Speaker 7: like such a basic fundamental job and responsibility of the 304 00:16:17,600 --> 00:16:21,440 Speaker 7: House of Representatives to pass our budgets and they have 305 00:16:21,760 --> 00:16:25,240 Speaker 7: utterly failed to do that. So once again, it will 306 00:16:25,280 --> 00:16:29,520 Speaker 7: be Democrats, as we have done repeatedly, who will keep 307 00:16:29,600 --> 00:16:34,440 Speaker 7: government functioning, who will come to the table forge a compromise. 308 00:16:34,600 --> 00:16:38,560 Speaker 7: Because we work for the American people. They are working 309 00:16:38,920 --> 00:16:42,560 Speaker 7: to try and hold their own coalitions together. And that's 310 00:16:42,600 --> 00:16:46,479 Speaker 7: the fundamental difference. We're seeing it play out around reproductive 311 00:16:46,520 --> 00:16:49,720 Speaker 7: freedom for women. We're seeing it play out and bringing 312 00:16:49,800 --> 00:16:54,080 Speaker 7: down the cost of groceries and housing, these issues that 313 00:16:54,280 --> 00:16:57,080 Speaker 7: I hear about as I not only travel my district 314 00:16:57,480 --> 00:17:00,920 Speaker 7: but travel the country. That is what people are worried about. 315 00:17:01,120 --> 00:17:03,640 Speaker 7: That is what they want to see in Congress. It's 316 00:17:03,680 --> 00:17:05,440 Speaker 7: why we're going to win the majority back. 317 00:17:05,760 --> 00:17:09,000 Speaker 2: Meet us back in Washington so we can continue this conversation. Congresswoman, 318 00:17:09,040 --> 00:17:10,520 Speaker 2: it's great to see you. Love to thanks for the 319 00:17:10,600 --> 00:17:13,240 Speaker 2: time today. I'm Bloomberg TV and Radio. The House Minority Whip, 320 00:17:13,240 --> 00:17:16,880 Speaker 2: Congresswoman Catherine Clark in an important conversation on day two 321 00:17:16,920 --> 00:17:20,320 Speaker 2: of the Democratic National Convention. I'm Joe Matthew alongside Kaylee 322 00:17:20,359 --> 00:17:22,240 Speaker 2: Lines with much more to follow. 323 00:17:23,160 --> 00:17:26,560 Speaker 1: You're listening to the Bloomberg Balance of Power podcast kens 324 00:17:26,640 --> 00:17:30,000 Speaker 1: just Live weekdays at noon Eastern on Applecarplay and Enroid 325 00:17:30,000 --> 00:17:32,720 Speaker 1: Oro with the Bloomberg Business App. You can also listen 326 00:17:32,800 --> 00:17:35,920 Speaker 1: live on Amazon Alexa from our flagship New York station, 327 00:17:36,320 --> 00:17:41,359 Speaker 1: Just Say Alexa, play Bloomberg eleven thirty, and. 328 00:17:41,440 --> 00:17:44,399 Speaker 3: She continues here in Chicago, and it'll be interesting to 329 00:17:44,440 --> 00:17:47,960 Speaker 3: see the tone shift that happens on this evening night 330 00:17:48,000 --> 00:17:51,440 Speaker 3: two after night one, it was dedicated to the current president, 331 00:17:51,520 --> 00:17:54,120 Speaker 3: Joe Biden, by and large, with signs of I Love 332 00:17:54,240 --> 00:17:57,280 Speaker 3: Joe on the convention floor. He's now out of town 333 00:17:57,359 --> 00:18:00,240 Speaker 3: and now it becomes much more about Kamala haha, Gers 334 00:18:00,240 --> 00:18:00,800 Speaker 3: and Tim Walls. 335 00:18:01,040 --> 00:18:03,919 Speaker 2: That's true. It's a good place to start with the 336 00:18:03,960 --> 00:18:06,720 Speaker 2: panel here, Kaylee, because it was an important moment and frankly, 337 00:18:06,760 --> 00:18:09,840 Speaker 2: not a lot of Americans saw this live. Joe Biden 338 00:18:09,880 --> 00:18:12,359 Speaker 2: didn't get on stage till eleven thirty last night, and 339 00:18:12,400 --> 00:18:14,719 Speaker 2: as we said, the ovation might have lasted till midnight. 340 00:18:14,800 --> 00:18:16,879 Speaker 2: Rick Davis and Jeanie Shanzano are with us right now. 341 00:18:16,920 --> 00:18:20,480 Speaker 2: Bloomberg Politics contributors. Rick Partner at Stone Core Capital, Genie 342 00:18:20,520 --> 00:18:24,000 Speaker 2: of course, political science professor at Iona University. Welcome to 343 00:18:24,080 --> 00:18:27,680 Speaker 2: day two. Rick. Were you getting adjuta as someone who 344 00:18:27,720 --> 00:18:30,200 Speaker 2: ran a convention watching this thing go over time last night? 345 00:18:30,280 --> 00:18:32,240 Speaker 8: Yeah, I was on a group chat with a bunch 346 00:18:32,280 --> 00:18:34,280 Speaker 8: of guys who helped me organize the two thousand and 347 00:18:34,320 --> 00:18:37,159 Speaker 8: eight convention, and we're all talking by about nine or 348 00:18:37,200 --> 00:18:37,719 Speaker 8: ten o'clock. 349 00:18:38,000 --> 00:18:39,479 Speaker 2: This thing is really off the rails. 350 00:18:39,520 --> 00:18:40,480 Speaker 1: It's way late. 351 00:18:40,680 --> 00:18:43,080 Speaker 2: What is it any when you're canceling speakers in primetime? 352 00:18:43,280 --> 00:18:46,480 Speaker 8: It's a real embarrassment to the campaign organization, to the 353 00:18:47,119 --> 00:18:50,639 Speaker 8: program committee of the convention. This thing is supposed to 354 00:18:50,680 --> 00:18:54,600 Speaker 8: be accounted for. Every second of the schedule is written down, 355 00:18:54,720 --> 00:18:58,120 Speaker 8: debated and rehearsed, and the fact that they were off 356 00:18:58,160 --> 00:19:00,719 Speaker 8: by forty five to minutes to an hour and a 357 00:19:00,720 --> 00:19:04,920 Speaker 8: half is just like a criminal offense in politics. 358 00:19:04,960 --> 00:19:06,520 Speaker 2: So I think that there was. 359 00:19:06,600 --> 00:19:10,639 Speaker 8: Probably a lot of come to Jesus meetings this morning 360 00:19:10,640 --> 00:19:13,640 Speaker 8: around the program for tonight, and it'll be interesting if 361 00:19:13,760 --> 00:19:16,760 Speaker 8: they can make their marks tonight get past it. But 362 00:19:16,840 --> 00:19:19,920 Speaker 8: if they can't, this could be like the twenty or 363 00:19:20,000 --> 00:19:24,000 Speaker 8: the nineteen ninety two convention for Republicans in Houston where 364 00:19:24,400 --> 00:19:28,320 Speaker 8: Ron Reagan was pushed into midnight out of the primetime 365 00:19:28,400 --> 00:19:30,840 Speaker 8: slot which was supposed to be his last, or off. 366 00:19:31,240 --> 00:19:32,880 Speaker 3: Well, I don't know how much of this can be 367 00:19:32,920 --> 00:19:37,040 Speaker 3: contributed to or blamed on overstuffing the schedule perhaps, or 368 00:19:37,119 --> 00:19:40,160 Speaker 3: just not when you're doing those calculations on time accounting 369 00:19:40,160 --> 00:19:43,600 Speaker 3: for how many chants of thank you Joe you might 370 00:19:43,640 --> 00:19:45,959 Speaker 3: have to get through before the President actually were to 371 00:19:46,040 --> 00:19:48,359 Speaker 3: start speaking. Gene, I'd love for you to just reflect 372 00:19:48,400 --> 00:19:51,520 Speaker 3: on the reception he got in that room last night 373 00:19:51,560 --> 00:19:54,560 Speaker 3: and whether it makes it frankly better or worse from 374 00:19:54,640 --> 00:19:56,520 Speaker 3: him knowing that he is on his way out. 375 00:19:56,880 --> 00:19:59,680 Speaker 9: Yeah, it was an amazing reception. But first of all, 376 00:19:59,760 --> 00:20:03,520 Speaker 9: they bumped sweet Baby James for Jamie Raskin and I 377 00:20:03,520 --> 00:20:05,919 Speaker 9: don't know Chris Coons and I love them both, but 378 00:20:06,400 --> 00:20:09,800 Speaker 9: you know, let's get James Taylor back. I think tonight 379 00:20:09,880 --> 00:20:11,360 Speaker 9: we will see a tighter schedule. 380 00:20:11,480 --> 00:20:12,119 Speaker 3: Let's hope. 381 00:20:12,320 --> 00:20:14,560 Speaker 9: To your point, there was a lot of applause for 382 00:20:14,840 --> 00:20:17,879 Speaker 9: Joe Biden, but it wasn't only that some of not 383 00:20:17,920 --> 00:20:20,720 Speaker 9: only do they have a lot of speakers, But some 384 00:20:20,760 --> 00:20:23,280 Speaker 9: of these speeches went so long, and they were saying 385 00:20:23,320 --> 00:20:26,320 Speaker 9: sort of perfunctory things sometimes like you know, help me 386 00:20:26,359 --> 00:20:27,600 Speaker 9: elect Kamala Harris. 387 00:20:27,680 --> 00:20:28,879 Speaker 3: Well, we all know we're doing that. 388 00:20:29,000 --> 00:20:31,240 Speaker 9: So there's some nitpicking I could do on the way 389 00:20:31,280 --> 00:20:34,880 Speaker 9: that this rolled out, But overall, a really warm reception 390 00:20:35,000 --> 00:20:38,320 Speaker 9: for Joe Biden. These are all his delegates. You know, 391 00:20:38,400 --> 00:20:43,240 Speaker 9: he's done something quite extraordinary, and stepping aside for Kamala Harris, 392 00:20:43,920 --> 00:20:46,240 Speaker 9: it was not the speech I thought I was gonna get. 393 00:20:46,320 --> 00:20:48,880 Speaker 9: I thought I was gonna get more. Here's what it's 394 00:20:48,960 --> 00:20:50,240 Speaker 9: like to work with Kamala Harris. 395 00:20:50,240 --> 00:20:52,200 Speaker 3: Who here's versus here's what I've done. 396 00:20:52,160 --> 00:20:54,840 Speaker 9: Here's who I am, and here's what I've done. 397 00:20:55,320 --> 00:20:56,960 Speaker 3: But besides that, he's. 398 00:20:56,800 --> 00:21:00,520 Speaker 9: Done an extraordinary thing. It was his moment. But you 399 00:21:00,720 --> 00:21:03,240 Speaker 9: just see when she came out like a rock star 400 00:21:03,440 --> 00:21:04,040 Speaker 9: last night. 401 00:21:04,520 --> 00:21:06,040 Speaker 3: That's where the energy is. 402 00:21:06,080 --> 00:21:09,000 Speaker 9: And I was saying to Rick earlier, imagine if that 403 00:21:09,119 --> 00:21:10,879 Speaker 9: had been Joe Biden still at the top of the 404 00:21:10,880 --> 00:21:14,399 Speaker 9: ticket Thursday night. The difference in terms of the reception. 405 00:21:14,119 --> 00:21:16,399 Speaker 2: Woll how true, A lot of things have changed, and 406 00:21:16,440 --> 00:21:19,639 Speaker 2: one of the more enduring images of last evening beyond 407 00:21:20,440 --> 00:21:23,840 Speaker 2: what Genie just described, Sean Fame, who runs the United 408 00:21:23,880 --> 00:21:28,320 Speaker 2: Auto Workers tearing his shirt open allah Hulk Hogan to 409 00:21:28,440 --> 00:21:31,560 Speaker 2: show a T shirt that says Trump is a scab, 410 00:21:32,000 --> 00:21:34,119 Speaker 2: and that apparently is going to be a refrain that 411 00:21:34,160 --> 00:21:37,000 Speaker 2: we hear a lot in this campaign. Is it effective? Yeah? 412 00:21:37,000 --> 00:21:39,600 Speaker 8: I don't think the ripping off the blue blazer to 413 00:21:39,680 --> 00:21:43,760 Speaker 8: show a T shirt intact was exactly h emotional Hulk Hogan. 414 00:21:44,800 --> 00:21:46,320 Speaker 8: But there's only one Hulk Hogan. 415 00:21:47,200 --> 00:21:47,440 Speaker 9: Yeah. 416 00:21:47,480 --> 00:21:50,919 Speaker 8: Look, I think that last night actually echoed all the 417 00:21:50,960 --> 00:21:54,880 Speaker 8: basic themes of the Democratic Party. You had a lot 418 00:21:54,920 --> 00:21:58,200 Speaker 8: about union labor, right as if there is no other 419 00:21:58,359 --> 00:22:02,160 Speaker 8: kind of labor in America union labor, And I think 420 00:22:02,240 --> 00:22:05,479 Speaker 8: that's a dangerous place for the Democrats to go to 421 00:22:05,520 --> 00:22:09,000 Speaker 8: say that it's only union labor that we speak to. 422 00:22:09,040 --> 00:22:09,560 Speaker 5: Two. 423 00:22:09,720 --> 00:22:13,760 Speaker 8: I thought that actually they did an amazing job talking 424 00:22:13,760 --> 00:22:17,120 Speaker 8: about abortion, putting a public face on it. Republicans didn't 425 00:22:17,119 --> 00:22:19,800 Speaker 8: talk about abortion at all at the Milwaukee convention, and 426 00:22:19,840 --> 00:22:22,240 Speaker 8: you would have thought that was something that would get 427 00:22:22,320 --> 00:22:23,480 Speaker 8: Republicans excited. 428 00:22:23,560 --> 00:22:25,439 Speaker 5: So what we saw last night was. 429 00:22:25,440 --> 00:22:27,680 Speaker 8: The base politics. You know what is going to get 430 00:22:27,720 --> 00:22:31,320 Speaker 8: our people excited, not a lot of crossover appeal. There 431 00:22:31,400 --> 00:22:32,280 Speaker 8: at all last night. 432 00:22:32,480 --> 00:22:35,120 Speaker 3: Well, something else we heard a lot about in addition 433 00:22:35,240 --> 00:22:38,720 Speaker 3: to those themes Brick was Project twenty twenty five. We've 434 00:22:38,720 --> 00:22:41,480 Speaker 3: heard a lot about this on the campaign trail thus far, 435 00:22:41,600 --> 00:22:43,760 Speaker 3: but certainly it was a common theme in some of 436 00:22:43,760 --> 00:22:45,600 Speaker 3: these convention speeches. Here's a little taste. 437 00:22:46,760 --> 00:22:50,360 Speaker 10: Donald Trump appointed the Supreme Court justices who got us 438 00:22:50,400 --> 00:22:54,679 Speaker 10: into this mess. His Project twenty twenty five goes even further. 439 00:22:55,520 --> 00:23:01,240 Speaker 10: Here's the thing Trump advance. Simply, don't believe in your freedom. 440 00:23:01,640 --> 00:23:08,359 Speaker 11: While Trump falsely please ignorance of Project twenty five, which 441 00:23:08,400 --> 00:23:17,719 Speaker 11: in my opinion is Jim Crow two point zero KAMA 442 00:23:17,840 --> 00:23:22,800 Speaker 11: has been offering the American people in enlightening proposals and 443 00:23:22,960 --> 00:23:24,800 Speaker 11: visionary leadership. 444 00:23:25,240 --> 00:23:27,640 Speaker 6: Donald Trump and the Republican friends and I only can't 445 00:23:27,680 --> 00:23:32,600 Speaker 6: think they can't read very well. Seriously think about it, 446 00:23:33,840 --> 00:23:37,960 Speaker 6: look at their Project twenty twenty five. Why do way 447 00:23:38,080 --> 00:23:39,080 Speaker 6: the part of education? 448 00:23:43,280 --> 00:23:44,840 Speaker 3: Rick. I want to come to you on this first, 449 00:23:44,880 --> 00:23:49,360 Speaker 3: because obviously Donald Trump has now taken pains to distance 450 00:23:49,440 --> 00:23:52,800 Speaker 3: himself from Project twenty twenty five. But given the messaging 451 00:23:52,800 --> 00:23:54,760 Speaker 3: we're getting out of this convention, is it too late 452 00:23:54,840 --> 00:23:57,480 Speaker 3: for him to create that separation? Knowing many of the 453 00:23:57,520 --> 00:24:00,760 Speaker 3: authors of this project do have close ties to him. 454 00:24:01,040 --> 00:24:03,440 Speaker 8: Yeah, it's really quite a phenomenon because you wouldn't think 455 00:24:03,480 --> 00:24:06,760 Speaker 8: something like this would actually go mainstream, right. It's kind 456 00:24:06,760 --> 00:24:10,000 Speaker 8: of a club issue. Right, Republicans and Democrats and high 457 00:24:10,000 --> 00:24:12,960 Speaker 8: places talk about these policy things and very rarely seeps 458 00:24:13,000 --> 00:24:16,560 Speaker 8: out into the electorate. But in this case, Polster after 459 00:24:16,600 --> 00:24:19,359 Speaker 8: Polster I've talked to says twenty twenty five is showing 460 00:24:19,440 --> 00:24:22,400 Speaker 8: up in their verbatims. You know that people are worried 461 00:24:22,400 --> 00:24:26,199 Speaker 8: about this plan. They're afraid of it, and they couldn't 462 00:24:26,280 --> 00:24:29,680 Speaker 8: articulate anything that was in it, but they know it's 463 00:24:29,720 --> 00:24:32,960 Speaker 8: a bad thing. And so it's actually become a mainstream issue. 464 00:24:32,960 --> 00:24:36,359 Speaker 8: And I think by virtue of that, Trump's already behind 465 00:24:36,359 --> 00:24:36,720 Speaker 8: the curve. 466 00:24:36,840 --> 00:24:38,280 Speaker 2: And do you really want. 467 00:24:38,040 --> 00:24:41,400 Speaker 8: To debate twenty twenty five a plan that people think 468 00:24:41,480 --> 00:24:43,679 Speaker 8: is a negative plan. So I think that it's going 469 00:24:43,720 --> 00:24:48,600 Speaker 8: to hurt Republicans. I wouldn't suggest that anybody invests heavily 470 00:24:48,680 --> 00:24:51,120 Speaker 8: in that. But I think the funniest part is there's 471 00:24:51,119 --> 00:24:54,840 Speaker 8: a big Trump tower in Chicago and they were broadcasting 472 00:24:54,920 --> 00:24:58,359 Speaker 8: in lights. Yeah, headquarters of twenty twenty five on the 473 00:24:58,400 --> 00:24:59,440 Speaker 8: front of it. 474 00:25:00,560 --> 00:25:04,520 Speaker 2: Yes, it's amassing projections on the buildings walking around Chicago 475 00:25:04,560 --> 00:25:06,919 Speaker 2: at night. But wait, Rick makes a great point, this 476 00:25:06,960 --> 00:25:10,080 Speaker 2: is pretty esoteric stuff, and we're hearing people talk about 477 00:25:10,080 --> 00:25:13,439 Speaker 2: it on a level. Janie, I would suggest, Kayleie, that 478 00:25:13,600 --> 00:25:16,000 Speaker 2: every reference to Project twenty twenty five on the air 479 00:25:16,040 --> 00:25:19,479 Speaker 2: gets a more vitriolic response on social media, for instance, 480 00:25:19,480 --> 00:25:22,200 Speaker 2: from both sides of the aisle. How did Democrats make 481 00:25:22,280 --> 00:25:22,960 Speaker 2: this a thing? 482 00:25:23,520 --> 00:25:24,560 Speaker 3: Yeah, it's fascinating. 483 00:25:24,600 --> 00:25:26,879 Speaker 9: I just wrote a piece on this, and the reason 484 00:25:26,920 --> 00:25:29,199 Speaker 9: why was because when I was in Europe this summer, 485 00:25:29,280 --> 00:25:31,679 Speaker 9: the number one question, to Rick's point, that I was 486 00:25:31,720 --> 00:25:34,480 Speaker 9: asked from just people in the street, friends, colleagues, what 487 00:25:34,560 --> 00:25:36,520 Speaker 9: do you think about Project twenty twenty five? And to 488 00:25:36,560 --> 00:25:39,440 Speaker 9: your point, I couldn't get over how this had spread. 489 00:25:40,240 --> 00:25:42,320 Speaker 9: And you know, my view of this is that it 490 00:25:42,400 --> 00:25:46,040 Speaker 9: is quite an opportunity for Democrats. I have read through 491 00:25:46,119 --> 00:25:49,800 Speaker 9: this and it is long, and what you find in 492 00:25:49,880 --> 00:25:55,320 Speaker 9: there are disagreements, fundamental disagreements amongst the Republican Party about 493 00:25:55,400 --> 00:25:58,520 Speaker 9: critical issues. I wrote about Ukraine, for instance, which divides 494 00:25:58,560 --> 00:26:01,000 Speaker 9: about twelve ways at this point. So I think of 495 00:26:01,000 --> 00:26:04,160 Speaker 9: it as an opportunity for Democrats, not just to keep 496 00:26:04,240 --> 00:26:06,600 Speaker 9: raising it in the way they are, but to try 497 00:26:06,640 --> 00:26:10,000 Speaker 9: to pull over some folks who might otherwise, if they 498 00:26:10,080 --> 00:26:12,560 Speaker 9: care about these issues, might go a Republican. But they 499 00:26:12,640 --> 00:26:15,080 Speaker 9: care so much about an issue like Ukraine that they're 500 00:26:15,119 --> 00:26:18,320 Speaker 9: willing to think about voting the other side, whether it's Senate, 501 00:26:18,359 --> 00:26:21,760 Speaker 9: House or the presidency. So it is an opportunity and 502 00:26:21,880 --> 00:26:24,359 Speaker 9: Donald Trump knows this, which is why he's trying to 503 00:26:24,400 --> 00:26:26,840 Speaker 9: walk away from it. But Democrats are saying this week, 504 00:26:26,880 --> 00:26:30,080 Speaker 9: not so fast, we shall broadcast on Trump Tower. 505 00:26:31,080 --> 00:26:34,000 Speaker 3: Well, Genieus, you talk about drawing people over, and I 506 00:26:34,080 --> 00:26:37,040 Speaker 3: raised this conversation with another one of our Democratic strategist 507 00:26:37,040 --> 00:26:39,159 Speaker 3: We speak to you frequently, christ and Hahn yesterday. This 508 00:26:39,240 --> 00:26:41,760 Speaker 3: notion that the people who are here in Chicago are 509 00:26:41,760 --> 00:26:44,199 Speaker 3: the hardcore Democrats. They were going to vote for the 510 00:26:44,240 --> 00:26:46,679 Speaker 3: Democratic ticket no matter who it was, if it was 511 00:26:46,680 --> 00:26:50,760 Speaker 3: Biden or Harris. It is not their enthusiasm that you need. 512 00:26:50,800 --> 00:26:53,040 Speaker 3: So as everybody comes in confidence saying, look at how 513 00:26:53,119 --> 00:26:56,080 Speaker 3: enthusiastic and energized we all are, those aren't the people 514 00:26:56,119 --> 00:26:58,240 Speaker 3: you need energized? Right? You need to reach out to 515 00:26:58,280 --> 00:27:01,000 Speaker 3: the people who aren't making the trip to sh Cogo necessarily, 516 00:27:01,000 --> 00:27:03,920 Speaker 3: who are still on the fence. Do Democrats risk being 517 00:27:03,960 --> 00:27:08,400 Speaker 3: too celebratory this week and not doing enough reaching out 518 00:27:08,440 --> 00:27:10,399 Speaker 3: to those who still may not have their minds made up? 519 00:27:10,640 --> 00:27:13,640 Speaker 9: Absolutely, And this is where I felt so nitpicky last night, 520 00:27:13,760 --> 00:27:16,800 Speaker 9: because they were speaking, in my view, many of them, 521 00:27:16,800 --> 00:27:19,600 Speaker 9: And I would pull Alexandro Casio Cortez as an exception 522 00:27:19,720 --> 00:27:22,119 Speaker 9: to this. I think, whatever you think of her, she 523 00:27:22,240 --> 00:27:26,840 Speaker 9: gave a great speech. Not substantive necessarily, but in terms 524 00:27:26,920 --> 00:27:30,520 Speaker 9: of speaking to the audience at home, because a lot 525 00:27:30,560 --> 00:27:33,120 Speaker 9: of what happens is like we're watching in the room. 526 00:27:33,240 --> 00:27:34,919 Speaker 9: You can hear what the crowd is saying and all 527 00:27:35,000 --> 00:27:37,040 Speaker 9: that stuff, and the speakers are talking to these folks 528 00:27:37,080 --> 00:27:39,320 Speaker 9: and it's all of the delegates for Biden and Harris 529 00:27:39,680 --> 00:27:42,480 Speaker 9: and now Waltz. But at home, people can't hear what's 530 00:27:42,520 --> 00:27:45,119 Speaker 9: going on on the floor. You've got to speak to 531 00:27:45,359 --> 00:27:46,320 Speaker 9: the people at home. 532 00:27:46,440 --> 00:27:47,080 Speaker 3: To your point. 533 00:27:47,560 --> 00:27:50,240 Speaker 9: I didn't find that happened enough last night. I think 534 00:27:50,359 --> 00:27:52,920 Speaker 9: that's why it dragged on and on and on. They've 535 00:27:53,000 --> 00:27:56,440 Speaker 9: got to ride that applause, speak over it and speak 536 00:27:56,480 --> 00:27:58,520 Speaker 9: to the people at home. And they can't make this 537 00:27:58,760 --> 00:28:01,440 Speaker 9: about an Excello cord or speech. It's got to be 538 00:28:01,720 --> 00:28:04,040 Speaker 9: we're in Chicago. It's got to be to the folks 539 00:28:04,160 --> 00:28:06,920 Speaker 9: who are going to decide this thing, the independence moderates 540 00:28:07,200 --> 00:28:10,639 Speaker 9: in the seven Swing States. So I thought Alexandro Casio 541 00:28:10,720 --> 00:28:13,879 Speaker 9: Cortes coach her very Kurk. Did I just say her 542 00:28:14,000 --> 00:28:16,560 Speaker 9: Kurt very very effective last night in terms of the 543 00:28:16,640 --> 00:28:17,280 Speaker 9: way that they. 544 00:28:17,240 --> 00:28:20,000 Speaker 2: Spoke good placement. Well, that's the crossover that you were 545 00:28:20,080 --> 00:28:24,000 Speaker 2: talking about earlier, Rick, You've had to strike that balance. 546 00:28:24,119 --> 00:28:26,960 Speaker 2: Tonight it's Barack Obama. Ironically, as I sit here with 547 00:28:27,040 --> 00:28:28,600 Speaker 2: Brick Davis, is he the one for that job? 548 00:28:29,119 --> 00:28:29,280 Speaker 4: You know? 549 00:28:29,640 --> 00:28:30,280 Speaker 2: Probably not. 550 00:28:30,720 --> 00:28:33,760 Speaker 8: And Monday nights are usually like that insurnal speak, that's 551 00:28:33,840 --> 00:28:37,720 Speaker 8: not a surprise. But I think tonight is a really 552 00:28:37,760 --> 00:28:39,880 Speaker 8: important point that Genie's making. I think they really need 553 00:28:39,920 --> 00:28:43,160 Speaker 8: to open it up. Remember in twenty twenty, Barack Obama 554 00:28:43,480 --> 00:28:46,520 Speaker 8: leveled a heavy attack on Donald Trump as being you know, 555 00:28:46,640 --> 00:28:49,960 Speaker 8: the end of democracy, and a lot of people at 556 00:28:50,000 --> 00:28:52,440 Speaker 8: the time thought, wow, that's really over the top. I mean, 557 00:28:52,560 --> 00:28:55,840 Speaker 8: like this was quite a leveling of an attack on him. 558 00:28:55,920 --> 00:28:58,320 Speaker 8: And and the question for me tonight is does he 559 00:28:58,480 --> 00:29:01,800 Speaker 8: reprise his role as a tack dog on Donald Trump? 560 00:29:01,960 --> 00:29:05,200 Speaker 8: The visionary who has been there done that, and can 561 00:29:05,480 --> 00:29:07,800 Speaker 8: you know, sort of guide the American public, this group 562 00:29:07,880 --> 00:29:10,280 Speaker 8: that's still trying to make up its mind, who will 563 00:29:10,400 --> 00:29:12,520 Speaker 8: determine the outcome of the election, not the people in 564 00:29:12,640 --> 00:29:15,280 Speaker 8: that convention hall. And how will he speak to them 565 00:29:15,440 --> 00:29:17,200 Speaker 8: about the perils of Donald Trump. 566 00:29:17,520 --> 00:29:20,400 Speaker 3: What's interesting is that as he speaks, as Michelle Obama speaks, 567 00:29:20,400 --> 00:29:23,560 Speaker 3: as the second Gentleman speaks, Kamala Harrison, Tim Walls will 568 00:29:23,600 --> 00:29:25,640 Speaker 3: not actually be in the convention hall to hear it. 569 00:29:25,720 --> 00:29:28,560 Speaker 3: They will kind of be counter programming as they also 570 00:29:28,640 --> 00:29:31,680 Speaker 3: speak in prime time at a rally in Milwaukee, Wisconsin. 571 00:29:31,680 --> 00:29:34,040 Speaker 3: If you were running this campaign, Rick, would you not 572 00:29:34,160 --> 00:29:36,240 Speaker 3: have staggered these events? So you get the coverage of 573 00:29:36,280 --> 00:29:37,960 Speaker 3: the rally in the afternoon, and then you get the 574 00:29:38,240 --> 00:29:40,880 Speaker 3: primetime network coverage of the speeches. What do you make 575 00:29:40,960 --> 00:29:41,560 Speaker 3: of this call? 576 00:29:41,960 --> 00:29:45,560 Speaker 8: I think this is really strange. You know, your counterprogramming. 577 00:29:45,680 --> 00:29:47,920 Speaker 8: That means you don't like the programming in your hall, 578 00:29:48,040 --> 00:29:48,480 Speaker 8: so you're. 579 00:29:48,400 --> 00:29:49,680 Speaker 5: Going somewhere else to get it. 580 00:29:50,360 --> 00:29:53,280 Speaker 8: That's usually what Republicans do at a convention for Democrats, 581 00:29:53,920 --> 00:29:56,360 Speaker 8: and it's a crowd event. Eighteen thousand people are going 582 00:29:56,400 --> 00:29:59,960 Speaker 8: to fill that stadium in Milwaukee, just like the report. 583 00:30:00,040 --> 00:30:03,680 Speaker 8: Look convention and I think it's a very strange thing. 584 00:30:04,000 --> 00:30:06,320 Speaker 8: Bad use of money, Right, you got a convention hall 585 00:30:06,360 --> 00:30:07,880 Speaker 8: full of people, you want to go talk to somebody 586 00:30:07,920 --> 00:30:10,640 Speaker 8: there they are right across the river. But the bottom 587 00:30:10,720 --> 00:30:13,400 Speaker 8: line is she's going to get a moment of her 588 00:30:13,560 --> 00:30:16,760 Speaker 8: time tonight without actually being in the convention hall. And 589 00:30:16,880 --> 00:30:19,200 Speaker 8: that's unusual, and I can see the value of that. 590 00:30:19,360 --> 00:30:22,360 Speaker 8: She's still trying to introduce herself to the American public, 591 00:30:22,640 --> 00:30:25,320 Speaker 8: and this way she gets to talk to the people. 592 00:30:25,440 --> 00:30:29,160 Speaker 8: Genie's talking about, the undecided voters in a targeted state. 593 00:30:29,760 --> 00:30:32,520 Speaker 2: Well, to Kaylee's point, she's supposed to talk at nine 594 00:30:32,600 --> 00:30:35,320 Speaker 2: pm Eastern. Who are we watching tonight? 595 00:30:36,280 --> 00:30:39,080 Speaker 9: We're gonna split that screen, Joe Matthew. Yeah, I think 596 00:30:39,160 --> 00:30:41,480 Speaker 9: it's very street like. It would have made total sense 597 00:30:41,520 --> 00:30:44,240 Speaker 9: if it was in the afternoon or maybe on Friday. 598 00:30:44,360 --> 00:30:46,160 Speaker 3: She leaves Thursday. It goes there. 599 00:30:46,840 --> 00:30:49,760 Speaker 9: She does need to be in Wisconsin, obviously, she needs 600 00:30:49,800 --> 00:30:52,200 Speaker 9: to be making these speeches. She needs to take it 601 00:30:52,240 --> 00:30:54,600 Speaker 9: to Donald Trump. Nothing drives them crazy like her getting 602 00:30:54,600 --> 00:30:56,960 Speaker 9: a crowd where he just at his convention. But the 603 00:30:57,160 --> 00:31:00,240 Speaker 9: timing is very, very odd, and the fact that her 604 00:31:00,440 --> 00:31:03,640 Speaker 9: husband is speaking here that you know you've got the 605 00:31:03,720 --> 00:31:04,560 Speaker 9: former president. 606 00:31:05,120 --> 00:31:07,880 Speaker 3: It's strange. Now do you think maybe they change the time. 607 00:31:07,960 --> 00:31:10,200 Speaker 9: I don't know how, but at this point it's a 608 00:31:10,640 --> 00:31:13,000 Speaker 9: strange way to schedule. 609 00:31:12,680 --> 00:31:15,000 Speaker 3: Things, is all I can say. Unless they're counting on 610 00:31:15,280 --> 00:31:18,640 Speaker 3: the schedule here running lately Primetime, see you work and. 611 00:31:18,680 --> 00:31:21,120 Speaker 2: Actually thoughts here breakfast with Obama. 612 00:31:22,000 --> 00:31:24,880 Speaker 3: Who knows, Rick Davis, and Jeanie Shanzino here for breakfast, lunch, 613 00:31:24,920 --> 00:31:27,000 Speaker 3: and dinner with us. Basically, we are all spending all 614 00:31:27,040 --> 00:31:29,240 Speaker 3: of our time together here in Chicago as we broadcast 615 00:31:29,320 --> 00:31:30,200 Speaker 3: live from. 616 00:31:31,680 --> 00:31:35,320 Speaker 1: You're listening to the Bloomberg Balance of Power podcast catches 617 00:31:35,480 --> 00:31:38,360 Speaker 1: live weekdays at noon Eastern onmo car Play and then 618 00:31:38,440 --> 00:31:41,360 Speaker 1: roud Otto with the Bloomberg Business app. Listen on demand 619 00:31:41,440 --> 00:31:45,000 Speaker 1: wherever you get your podcasts, or watch us live on YouTube. 620 00:31:47,840 --> 00:31:51,400 Speaker 3: A two, which is also night too, which of course 621 00:31:51,480 --> 00:31:53,760 Speaker 3: is when we're going to hear from former President Barack Obama, 622 00:31:53,800 --> 00:31:56,440 Speaker 3: the former First Leady Michelle Obama, and the current second 623 00:31:56,520 --> 00:31:59,320 Speaker 3: Gentleman of the United States, Doug M. Hoff, who will 624 00:31:59,520 --> 00:32:02,760 Speaker 3: be head tonight after the headliner of the first night, 625 00:32:03,000 --> 00:32:05,040 Speaker 3: the President of the United States, Joe Biden, who has 626 00:32:05,120 --> 00:32:07,880 Speaker 3: now left the town and is on vacation in California. 627 00:32:08,000 --> 00:32:10,760 Speaker 2: Yeah, Joe Biden has left the building. It went late 628 00:32:10,920 --> 00:32:13,560 Speaker 2: last night. He left the city and the state as well. 629 00:32:14,080 --> 00:32:17,200 Speaker 2: Kayley to allow the proceedings now to begin in a 630 00:32:17,240 --> 00:32:20,600 Speaker 2: wind up that will bring Kamala Harris Thursday night to 631 00:32:20,680 --> 00:32:24,200 Speaker 2: her acceptance speech. Her formal acceptance speech. Barack Obama will 632 00:32:24,200 --> 00:32:26,800 Speaker 2: be holding forth later the former president, who might have 633 00:32:26,920 --> 00:32:29,200 Speaker 2: some stern words for Donald Trump. Although, by the way, 634 00:32:29,280 --> 00:32:33,200 Speaker 2: counter programming this convention throughout the week. Today he is 635 00:32:33,360 --> 00:32:35,920 Speaker 2: back in Michigan, something that we'll be talking about later. 636 00:32:35,960 --> 00:32:38,320 Speaker 2: He's got an event on crime, of course, with Chicago 637 00:32:38,400 --> 00:32:38,760 Speaker 2: in mind. 638 00:32:38,880 --> 00:32:41,760 Speaker 3: Yes, something the Republicans are hitting very hard. But Democrats 639 00:32:41,800 --> 00:32:43,600 Speaker 3: were taking a fair number of shots at their own 640 00:32:43,600 --> 00:32:46,959 Speaker 3: about the Republican Party in general and specifically the former president. 641 00:32:47,040 --> 00:32:49,760 Speaker 3: We got a lot of those from President Biden last night, 642 00:32:49,840 --> 00:32:56,000 Speaker 3: including some pretty powerful emotional words about what Donald Trump 643 00:32:56,040 --> 00:32:57,720 Speaker 3: has said about veterans. 644 00:32:59,160 --> 00:33:02,440 Speaker 6: Yes, you do at it and done respect our veterans. 645 00:33:04,040 --> 00:33:06,240 Speaker 6: We know from his own chief of staff and four 646 00:33:06,320 --> 00:33:11,320 Speaker 6: star General John Kelly that Trump went in Europe, would 647 00:33:11,360 --> 00:33:13,200 Speaker 6: not go to the grave sites in one of the 648 00:33:13,880 --> 00:33:19,160 Speaker 6: France The brave service members who gave their lives of 649 00:33:19,200 --> 00:33:23,480 Speaker 6: this country. He called them suckers and losers. Who in 650 00:33:23,560 --> 00:33:26,200 Speaker 6: the hell does he think he is? Who does he 651 00:33:26,400 --> 00:33:35,560 Speaker 6: think he is? There's no words for a person. They're 652 00:33:35,640 --> 00:33:39,080 Speaker 6: not the words of persons not worthy of being the 653 00:33:39,120 --> 00:33:42,000 Speaker 6: commander in chief period, not then. 654 00:33:42,320 --> 00:33:46,440 Speaker 9: Not now, and not ever. I mean that. 655 00:33:47,800 --> 00:33:49,560 Speaker 1: I mean that in the bottom of my heart. 656 00:33:53,200 --> 00:33:55,680 Speaker 2: President Biden last evening in one of the more dramatic 657 00:33:55,800 --> 00:33:58,440 Speaker 2: moments of his address, and it's where we start our 658 00:33:58,480 --> 00:34:02,280 Speaker 2: conversation now with Congressman Seth Moulton, the Democrat from Massachusetts, 659 00:34:02,680 --> 00:34:05,120 Speaker 2: has arrived in Chicago, and of course, if you've been 660 00:34:05,200 --> 00:34:08,719 Speaker 2: with us before, you're aware of his time as a 661 00:34:08,880 --> 00:34:12,759 Speaker 2: Marine combat veteran, serving four tours in Iraq, so a 662 00:34:12,840 --> 00:34:16,160 Speaker 2: unique perspective that we always enjoy sharing. Congressman, it's great 663 00:34:16,160 --> 00:34:18,320 Speaker 2: to see you in Chicago. Thanks for being here. This 664 00:34:18,480 --> 00:34:23,000 Speaker 2: clearly made Joe Biden angry. How does it make you feel? Well? 665 00:34:23,120 --> 00:34:26,720 Speaker 12: I mean, we all know how important Bo Biden's service 666 00:34:27,719 --> 00:34:31,680 Speaker 12: is to Joe Biden as a father, as a commander 667 00:34:31,719 --> 00:34:35,840 Speaker 12: in chief, as an American, and it is really remarkable 668 00:34:35,920 --> 00:34:38,720 Speaker 12: that you have a major party candidate in Donald Trump, 669 00:34:39,040 --> 00:34:42,600 Speaker 12: who just truly hates veterans, and that's not an exaggeration. 670 00:34:42,680 --> 00:34:46,040 Speaker 12: He has shown time and time and again he's called them. 671 00:34:46,440 --> 00:34:49,920 Speaker 12: He's called us losers and suckers, and there was losers 672 00:34:50,000 --> 00:34:53,279 Speaker 12: for signing up, suckers if you get killed. He was 673 00:34:53,360 --> 00:34:56,200 Speaker 12: walking around Arlington Cemetery with his own chief of stabmarine 674 00:34:56,600 --> 00:34:59,880 Speaker 12: veteran John Kelly, when he said, I just don't understand 675 00:35:00,800 --> 00:35:02,480 Speaker 12: why they did it, what was in it for them? 676 00:35:02,600 --> 00:35:05,560 Speaker 12: And this while John Kelly was there in part to 677 00:35:05,640 --> 00:35:10,640 Speaker 12: see his own son's grave, Lieutenant Kelly, who died in Afghanistan. 678 00:35:11,160 --> 00:35:13,440 Speaker 3: Well, whatever you may think about his attitude toward veterans, 679 00:35:13,480 --> 00:35:16,120 Speaker 3: he does have a veteran running with him in jd Vance. 680 00:35:16,160 --> 00:35:18,840 Speaker 3: Kama Harris also has a veteran running with her in 681 00:35:18,960 --> 00:35:22,200 Speaker 3: Tim Walls, and yet his service record has come under 682 00:35:22,239 --> 00:35:26,120 Speaker 3: immense scrutiny since his selection. It has framed it as 683 00:35:26,120 --> 00:35:26,840 Speaker 3: stolen valor. 684 00:35:26,960 --> 00:35:29,960 Speaker 12: Well, because Jade Vance is following Donald Trump's playbook of 685 00:35:30,000 --> 00:35:33,000 Speaker 12: denigrating veterans, and we should be celebrating the fact that, 686 00:35:33,640 --> 00:35:35,480 Speaker 12: you know, for the first time in a long time, 687 00:35:35,560 --> 00:35:37,880 Speaker 12: we have two veterans on the major party candidates, the 688 00:35:37,920 --> 00:35:41,319 Speaker 12: first time that we've had veterans really from these most 689 00:35:41,360 --> 00:35:44,560 Speaker 12: recent wars, and that's something that we should be celebrating. 690 00:35:44,719 --> 00:35:48,120 Speaker 12: And you know, both Jadie Vance and Tim Waltz have 691 00:35:49,040 --> 00:35:51,759 Speaker 12: service records that should be lifted up and used as 692 00:35:51,800 --> 00:35:55,680 Speaker 12: an examples. Instead JD. Vance is just going down the 693 00:35:55,760 --> 00:35:59,839 Speaker 12: same path as Donald Trump and attacking the service record 694 00:35:59,880 --> 00:36:02,799 Speaker 12: of Tim Walls, who, by all accounts was a great 695 00:36:02,880 --> 00:36:03,719 Speaker 12: soldier in the army. 696 00:36:04,080 --> 00:36:07,359 Speaker 2: Well, look, we saw this with your former colleague John 697 00:36:07,480 --> 00:36:11,120 Speaker 2: Kerry from Massachusetts the swift Boats. Of course, we've got 698 00:36:11,200 --> 00:36:13,520 Speaker 2: some of the same people involved in the messaging in 699 00:36:13,560 --> 00:36:16,080 Speaker 2: this campaign in Chris Losovita, who was part of the 700 00:36:16,120 --> 00:36:20,120 Speaker 2: Swift Boats campaign back in two thousand and four. I 701 00:36:20,280 --> 00:36:23,000 Speaker 2: was compelled by Mark Kelly's response to all of this. 702 00:36:23,360 --> 00:36:27,360 Speaker 2: Clearly was not happy with this stolen valor accusation, but 703 00:36:27,440 --> 00:36:29,920 Speaker 2: he said, both of you should be thanked for your 704 00:36:30,000 --> 00:36:33,279 Speaker 2: service JD. Vance's and Tim Walls. Is that the way 705 00:36:33,280 --> 00:36:34,200 Speaker 2: we should approach. 706 00:36:34,000 --> 00:36:35,520 Speaker 12: Exactly, And then that's what I just said. I mean, 707 00:36:35,520 --> 00:36:37,120 Speaker 12: we should be lifting up the fact that both of 708 00:36:37,160 --> 00:36:40,280 Speaker 12: them have served the country in different and important ways. 709 00:36:41,000 --> 00:36:45,680 Speaker 12: And you know what veterans really hate is other veterans 710 00:36:45,719 --> 00:36:49,239 Speaker 12: who misrepresent their service who make their record out to 711 00:36:49,320 --> 00:36:52,160 Speaker 12: be more than it is. And that fundamentally is what 712 00:36:52,280 --> 00:36:55,000 Speaker 12: jd Vance is trying to accuse Tim Walls. But it 713 00:36:55,160 --> 00:36:57,680 Speaker 12: just doesn't. It doesn't hold water. It doesn't hold water 714 00:36:57,719 --> 00:37:01,040 Speaker 12: at all, and it's not really the way that veterans 715 00:37:01,320 --> 00:37:04,920 Speaker 12: respect youself serving in Congress, I have a lot of 716 00:37:05,000 --> 00:37:06,440 Speaker 12: veterans on the other side of the aisle and I 717 00:37:06,560 --> 00:37:08,719 Speaker 12: disagree with on a lot of policy ischusing, yet they're 718 00:37:08,760 --> 00:37:11,600 Speaker 12: often the first people I go to work with, like 719 00:37:11,680 --> 00:37:13,200 Speaker 12: if I have to do, you know, work on a 720 00:37:13,239 --> 00:37:16,880 Speaker 12: piece of bipartisan legislation like the nine eight eight National 721 00:37:16,960 --> 00:37:19,680 Speaker 12: Mental Health Hotline now it's part of the Veterans Crisis 722 00:37:19,800 --> 00:37:22,719 Speaker 12: Line as well. I co authored that bill with an 723 00:37:22,719 --> 00:37:24,840 Speaker 12: Air Force veteran from Utah. There are a lot of 724 00:37:24,880 --> 00:37:26,920 Speaker 12: issues we disagreed on, but he was one of the 725 00:37:26,960 --> 00:37:29,120 Speaker 12: first people I went to to work with on that 726 00:37:29,320 --> 00:37:32,880 Speaker 12: legislation because I knew, as a result of our shared service, 727 00:37:32,960 --> 00:37:35,719 Speaker 12: we had something in common. We had some trust that 728 00:37:35,880 --> 00:37:38,719 Speaker 12: we shared some common experience, even though we did very 729 00:37:38,760 --> 00:37:41,200 Speaker 12: different things as an infray auser in the Marines, as 730 00:37:41,239 --> 00:37:45,840 Speaker 12: a world record holding pilot in the Air Force. So 731 00:37:46,840 --> 00:37:48,600 Speaker 12: you know, Chris was an amazing Chris Stewart was an 732 00:37:48,640 --> 00:37:52,280 Speaker 12: amazing partner in many ways, much more distinguished military record 733 00:37:52,760 --> 00:37:54,640 Speaker 12: than mine. I'm not in againest book of World Records 734 00:37:54,680 --> 00:37:55,319 Speaker 12: for anything from. 735 00:37:55,239 --> 00:37:56,040 Speaker 2: My time in the Marines. 736 00:37:56,560 --> 00:38:00,360 Speaker 12: But the point is that we found that common and 737 00:38:00,400 --> 00:38:03,320 Speaker 12: you would like to see that happening on the presidential stage. 738 00:38:03,360 --> 00:38:05,200 Speaker 12: But of course Jade Vance is just going down in 739 00:38:05,239 --> 00:38:09,000 Speaker 12: the gutter with with Donald Trump. He's much more interested 740 00:38:09,080 --> 00:38:13,640 Speaker 12: in following Donald Trump's playbook than upholding the values that 741 00:38:13,680 --> 00:38:14,240 Speaker 12: he should. 742 00:38:14,000 --> 00:38:14,840 Speaker 2: Have learned in the Marines. 743 00:38:15,120 --> 00:38:17,160 Speaker 3: Well, Congressman, obviously, we thank you for your service and 744 00:38:17,160 --> 00:38:19,960 Speaker 3: all those who have served or currently serving. And in 745 00:38:20,040 --> 00:38:21,440 Speaker 3: recent weeks, Joe and I have had to ask some 746 00:38:21,520 --> 00:38:24,200 Speaker 3: pretty tough questions about those who are currently serving and 747 00:38:24,280 --> 00:38:27,320 Speaker 3: whether or not they may have to become active in 748 00:38:27,440 --> 00:38:29,719 Speaker 3: combat in the Middle East once again, as we cast 749 00:38:29,719 --> 00:38:31,680 Speaker 3: an eye on Iran, which still has yet to retaliate 750 00:38:31,719 --> 00:38:34,600 Speaker 3: against Israel, and wait for a progress on a potential 751 00:38:34,640 --> 00:38:36,879 Speaker 3: ceasefire between Israel and Hamas. That of course, is something 752 00:38:36,920 --> 00:38:39,840 Speaker 3: Joe Biden wants to achieve with the remaining time as president. 753 00:38:39,880 --> 00:38:42,440 Speaker 3: He spoke about that on the convention floor last night. 754 00:38:42,520 --> 00:38:44,279 Speaker 3: Just take a listen briefly to his words. 755 00:38:45,040 --> 00:38:49,640 Speaker 6: Oh, keep working to bring hostages home and end the 756 00:38:49,719 --> 00:38:53,879 Speaker 6: war and gossm and bring pieces of carters in the life. 757 00:38:54,239 --> 00:38:58,359 Speaker 6: We're working around the clock. My Secretary of State, rent 758 00:38:58,400 --> 00:39:00,920 Speaker 6: a wider war re and I hoste to their families, 759 00:39:01,680 --> 00:39:06,040 Speaker 6: and surge humanitarian health and food assistance into Gaza. 760 00:39:06,200 --> 00:39:09,759 Speaker 2: Now the. 761 00:39:11,880 --> 00:39:17,080 Speaker 6: Civilian suffering of the Palace Indian people, and finally, finally, 762 00:39:17,200 --> 00:39:20,560 Speaker 6: finally deliver a cease firing in this war. 763 00:39:23,960 --> 00:39:24,080 Speaker 2: Now. 764 00:39:24,200 --> 00:39:26,840 Speaker 3: Israel, of course has accepted this bridge cease file proposal 765 00:39:26,880 --> 00:39:30,120 Speaker 3: from the US Hamas at this time has not. Are 766 00:39:30,200 --> 00:39:32,600 Speaker 3: you confident that it can be done or are you 767 00:39:32,719 --> 00:39:36,000 Speaker 3: still worried that potentially the US could get involved in 768 00:39:36,040 --> 00:39:37,719 Speaker 3: a deeper conflict in the Middle East. 769 00:39:37,760 --> 00:39:40,319 Speaker 12: No, look, I'm very concerned, and let's just be clear, 770 00:39:40,600 --> 00:39:43,680 Speaker 12: not in our national security interests to be drawn into 771 00:39:43,719 --> 00:39:46,880 Speaker 12: another massive war in the Middle East. It's not in 772 00:39:46,920 --> 00:39:49,520 Speaker 12: our interests in terms of our big picture problems around 773 00:39:49,560 --> 00:39:53,200 Speaker 12: the globe, like focusing on China, where the real focus 774 00:39:53,280 --> 00:39:56,399 Speaker 12: should be for US national security. Right now, of course, 775 00:39:56,440 --> 00:39:58,959 Speaker 12: there's already a hot war in Ukraine that could spill 776 00:39:59,040 --> 00:40:01,160 Speaker 12: over into Europe. Last thing we need is to get 777 00:40:01,200 --> 00:40:02,680 Speaker 12: bogged down in the Middle East. That would be a 778 00:40:02,800 --> 00:40:06,560 Speaker 12: gift the sieging thing in China and Vladimir Putin in Europe. 779 00:40:06,880 --> 00:40:09,440 Speaker 12: We also we also want to make sure by the 780 00:40:09,480 --> 00:40:13,680 Speaker 12: way that in the Middle East we reach a resolution 781 00:40:13,880 --> 00:40:19,320 Speaker 12: that enables us to truly have peace for Israelis and Palestinians. 782 00:40:19,560 --> 00:40:22,040 Speaker 12: And we should agree on some common points here. First 783 00:40:22,040 --> 00:40:24,520 Speaker 12: of all, Israel needs to not just end this war, 784 00:40:24,640 --> 00:40:27,400 Speaker 12: but actually win it, actually defeat Hamas. You can't have 785 00:40:27,719 --> 00:40:31,560 Speaker 12: a terrorist organization running Gaza, but they need to do 786 00:40:31,760 --> 00:40:34,680 Speaker 12: that in a way that has a political endgame that 787 00:40:34,800 --> 00:40:37,319 Speaker 12: both sides can buy into, that can truly bring peace. 788 00:40:37,600 --> 00:40:40,560 Speaker 12: Prime Minister, Yet Yaho hasn't articulated that yet. So this 789 00:40:40,800 --> 00:40:43,440 Speaker 12: is a complicated situation in some ways because the players 790 00:40:43,480 --> 00:40:45,120 Speaker 12: have made it so complicated. 791 00:40:45,440 --> 00:40:46,360 Speaker 2: But it shouldn't be. 792 00:40:46,680 --> 00:40:48,319 Speaker 12: We should be able to find a lot of common 793 00:40:48,360 --> 00:40:51,799 Speaker 12: ground here. Let's defeat Hamas, Let's stop killing civilians, Let's 794 00:40:51,800 --> 00:40:55,120 Speaker 12: have a durable peace plan that it is politically acceptable 795 00:40:55,480 --> 00:40:59,279 Speaker 12: to both Palestinians and Israelis, and ultimately that not only 796 00:40:59,320 --> 00:41:00,960 Speaker 12: brings peace to them in the least it make sure 797 00:41:01,000 --> 00:41:02,680 Speaker 12: that the United States doesn't have to have troops on 798 00:41:02,719 --> 00:41:03,280 Speaker 12: the ground. 799 00:41:03,120 --> 00:41:05,040 Speaker 2: Well, there is a fear of, not an expectation, that 800 00:41:05,160 --> 00:41:09,360 Speaker 2: Iran is going to retaliate militarily against Israel for the 801 00:41:09,440 --> 00:41:12,400 Speaker 2: killings of the leader of Hamas and the official from Hesbolah. 802 00:41:13,960 --> 00:41:16,760 Speaker 2: That means that, once again, after what we saw in April, 803 00:41:17,160 --> 00:41:22,520 Speaker 2: American airmen sailors could actually be in a direct head 804 00:41:22,560 --> 00:41:26,439 Speaker 2: to head combat, essentially knocking down missiles out of the air, 805 00:41:26,960 --> 00:41:30,960 Speaker 2: shooting at drones. We're getting very close to a direct 806 00:41:31,000 --> 00:41:33,239 Speaker 2: engagement in that world with Iran. How nervous does that 807 00:41:33,320 --> 00:41:33,560 Speaker 2: make you? 808 00:41:33,800 --> 00:41:37,200 Speaker 12: That's right, and the Republicans have attacked President Biden for 809 00:41:37,360 --> 00:41:40,120 Speaker 12: trying to de escalate the situation. Let me just be clear, 810 00:41:40,520 --> 00:41:43,839 Speaker 12: de escalating the situation is exactly in our interests right 811 00:41:43,880 --> 00:41:45,920 Speaker 12: now because we do not want to be in a 812 00:41:45,960 --> 00:41:47,800 Speaker 12: shooting war with Iran. We do not want to be 813 00:41:48,640 --> 00:41:51,719 Speaker 12: putting us lives at risk here now. Does Iran need 814 00:41:51,800 --> 00:41:55,480 Speaker 12: to be deterred from further action, Yes, absolutely, But this 815 00:41:55,680 --> 00:41:59,399 Speaker 12: is a complex negotiation going on here, and we want 816 00:41:59,520 --> 00:42:03,800 Speaker 12: to have fundamentally peace between Israelis and Palestinians so that 817 00:42:03,920 --> 00:42:07,160 Speaker 12: Iran doesn't have the motive to continue these attacks. Let's 818 00:42:07,400 --> 00:42:09,759 Speaker 12: also not forget that Israel has a serious problem on 819 00:42:09,800 --> 00:42:12,520 Speaker 12: its northern border with Hesbola, and I think that's a 820 00:42:12,600 --> 00:42:16,680 Speaker 12: particularly complex situation. There's not an easy answer there. Israel 821 00:42:16,760 --> 00:42:19,840 Speaker 12: has already seen one hundred thousand of its citizens displaced. 822 00:42:19,960 --> 00:42:21,480 Speaker 12: They need to be able to go back to their 823 00:42:21,520 --> 00:42:25,799 Speaker 12: homes in peace. So you know, there's a reason why 824 00:42:26,000 --> 00:42:28,520 Speaker 12: the United States is having a role in the peace 825 00:42:28,600 --> 00:42:31,480 Speaker 12: process here and why we're trying to stay out of 826 00:42:31,600 --> 00:42:35,279 Speaker 12: a direct conflict that would fundamentally draw us into a war. 827 00:42:35,719 --> 00:42:37,759 Speaker 3: Congressman, it's great to have your expertise as a member 828 00:42:37,800 --> 00:42:40,160 Speaker 3: of the Armed Services Committee, of course, given your own 829 00:42:40,239 --> 00:42:43,120 Speaker 3: experience in the region. Congressman Seth Milton of Massachusetts, enjoy 830 00:42:43,160 --> 00:42:45,719 Speaker 3: your time in Chicago, sir, We appreciate having you. 831 00:42:47,280 --> 00:42:50,640 Speaker 1: You're listening to the Bloomberg Balance of Power podcast kens 832 00:42:50,800 --> 00:42:53,799 Speaker 1: Just Live weekdays at noon Eastern on Applecarplay and then 833 00:42:53,880 --> 00:42:56,439 Speaker 1: roud Oro with the Bloomberg Business Ad. You can also 834 00:42:56,560 --> 00:42:59,680 Speaker 1: listen live on Amazon Alexa from our flagship New York 835 00:42:59,719 --> 00:43:02,760 Speaker 1: State Joe Say Alexa play Bloomberg eleven. 836 00:43:05,360 --> 00:43:07,640 Speaker 3: We are joined now by Danny Wurtsch, Chairman and CEO 837 00:43:07,719 --> 00:43:10,120 Speaker 3: of the Chicago Blackhawks, alongside Michael Ryan Soto are a 838 00:43:10,120 --> 00:43:12,799 Speaker 3: president and CEO of the Chicago Bulls. They are both 839 00:43:12,840 --> 00:43:16,200 Speaker 3: here with us on set in Chicago. Welcome to you both. 840 00:43:16,239 --> 00:43:18,920 Speaker 3: Thank you so much for being Yes, it is a 841 00:43:18,960 --> 00:43:22,560 Speaker 3: power team that's so sure about that. I don't know indeed. Well, 842 00:43:22,560 --> 00:43:24,960 Speaker 3: obviously it's a big week for you guys. I'm sure 843 00:43:25,000 --> 00:43:27,440 Speaker 3: one that has had probably a year or so of 844 00:43:27,520 --> 00:43:29,840 Speaker 3: preparation leading up to it. Michael, if we could just 845 00:43:29,880 --> 00:43:32,520 Speaker 3: start with you talk to us about the decision to 846 00:43:32,680 --> 00:43:35,719 Speaker 3: host this convention at the United Center and what all 847 00:43:35,840 --> 00:43:38,120 Speaker 3: has gone into it and whether or not this is 848 00:43:38,120 --> 00:43:40,160 Speaker 3: the most lucrative thing you could have done with a 849 00:43:40,200 --> 00:43:40,960 Speaker 3: building of itself. 850 00:43:41,000 --> 00:43:43,759 Speaker 13: Oh, I mean, clearly, it's not the most lucrative thing 851 00:43:43,800 --> 00:43:46,160 Speaker 13: we could do because we've shut down our buildings since 852 00:43:46,239 --> 00:43:49,080 Speaker 13: the end of our season, so we've had no we 853 00:43:49,160 --> 00:43:51,480 Speaker 13: haven't booked any events for the last couple of months. 854 00:43:52,040 --> 00:43:53,960 Speaker 5: But to us, this was kind of a no brainer. 855 00:43:54,040 --> 00:43:57,480 Speaker 13: When Governor Pritzker and Mayor Lifefoot came to us, we 856 00:43:57,920 --> 00:43:59,360 Speaker 13: were on board from the very beginning. 857 00:44:00,160 --> 00:44:02,120 Speaker 5: The convention kind of kicked off. 858 00:44:02,200 --> 00:44:03,800 Speaker 13: I think that a lot of the redevelopment on the 859 00:44:03,840 --> 00:44:07,479 Speaker 13: West Side in ninety six, so the United Centers opened 860 00:44:07,560 --> 00:44:10,160 Speaker 13: up in nineteen ninety four. This's our thirtieth year, and 861 00:44:10,360 --> 00:44:14,319 Speaker 13: the ninety six convention was a complete success, and now 862 00:44:14,360 --> 00:44:17,719 Speaker 13: it's many years later and we want to do our 863 00:44:17,760 --> 00:44:20,080 Speaker 13: part of supporting the city of Chicago that we love 864 00:44:20,160 --> 00:44:20,520 Speaker 13: so much. 865 00:44:20,880 --> 00:44:24,840 Speaker 2: Fascinating, I'm really taken by the logistics behind something of 866 00:44:25,000 --> 00:44:27,879 Speaker 2: this scale. You can throw a concert, you can host 867 00:44:27,920 --> 00:44:30,759 Speaker 2: a game, but this is on a much larger level. 868 00:44:30,800 --> 00:44:33,720 Speaker 2: You have fifty thousand people attending, and I'm just curious 869 00:44:33,800 --> 00:44:36,520 Speaker 2: what goes into that type of a transformation. 870 00:44:37,000 --> 00:44:39,920 Speaker 14: Tremendous planning. And the good thing is our team kind 871 00:44:39,960 --> 00:44:42,560 Speaker 14: of at the United Center are used to these, you know, 872 00:44:43,160 --> 00:44:46,240 Speaker 14: one hundred and fifty nights a year working games, concerts, 873 00:44:46,280 --> 00:44:49,200 Speaker 14: et cetera, big events like All Star Games. But this 874 00:44:49,400 --> 00:44:51,759 Speaker 14: is another level, and I know our team at the 875 00:44:51,840 --> 00:44:54,040 Speaker 14: United Center kind of like the challenge of really rising 876 00:44:54,080 --> 00:44:56,440 Speaker 14: to the occasion. And then of course it's partnerships. It's 877 00:44:56,440 --> 00:44:59,319 Speaker 14: partnerships with all the city agencies and all the people 878 00:44:59,360 --> 00:45:01,279 Speaker 14: that have to make at all work. And it's an 879 00:45:01,320 --> 00:45:05,400 Speaker 14: impressive experience to go walk through and just walking through 880 00:45:05,480 --> 00:45:08,160 Speaker 14: last night and see all the pieces come together to 881 00:45:08,239 --> 00:45:09,680 Speaker 14: make the event is it public. 882 00:45:09,480 --> 00:45:12,680 Speaker 2: Service though also Kaylee references the fact that you could 883 00:45:12,719 --> 00:45:14,560 Speaker 2: be making a lot more money doing something else. 884 00:45:14,680 --> 00:45:16,360 Speaker 14: Yeah, I think it's kind of in our DNA to 885 00:45:17,000 --> 00:45:19,759 Speaker 14: step up and to do the right thing for the city, 886 00:45:19,800 --> 00:45:22,120 Speaker 14: because when the city does well, we do well as 887 00:45:22,160 --> 00:45:25,719 Speaker 14: a business. And these conventions are big opportunities to put 888 00:45:25,760 --> 00:45:28,400 Speaker 14: the spotlight on our great city, to showcase what we 889 00:45:28,480 --> 00:45:31,320 Speaker 14: do so well, and to bring people and bring business 890 00:45:31,400 --> 00:45:32,440 Speaker 14: to Chicago. 891 00:45:32,880 --> 00:45:34,880 Speaker 3: Well, as we think about the work you're doing in Chicago, 892 00:45:35,000 --> 00:45:37,440 Speaker 3: obviously you announced a few weeks ago, as Tyler mentioned, 893 00:45:37,480 --> 00:45:39,959 Speaker 3: the nineteen oh one project, you're besting more than seven 894 00:45:40,000 --> 00:45:43,120 Speaker 3: billion dollars to basically the area where now the area 895 00:45:43,160 --> 00:45:46,080 Speaker 3: that surrounds the United Center. How do you fund that? 896 00:45:47,160 --> 00:45:49,800 Speaker 3: As we're having a conversation here about money. 897 00:45:49,640 --> 00:45:50,960 Speaker 5: Well, we're going to fund it privately. 898 00:45:51,960 --> 00:45:54,759 Speaker 13: You know, We're lucky because the United Center is kind 899 00:45:54,800 --> 00:45:57,200 Speaker 13: of the anchor tenant, so we have a chance to 900 00:45:58,280 --> 00:46:02,479 Speaker 13: redevelop the land, the parking lots. So when we opened 901 00:46:02,520 --> 00:46:07,759 Speaker 13: the building, we had six thousand parking spaces available, and 902 00:46:08,160 --> 00:46:10,080 Speaker 13: we never we didn't want to make it a sea 903 00:46:10,120 --> 00:46:11,719 Speaker 13: of parking. But what happened with a lot of people 904 00:46:11,840 --> 00:46:14,880 Speaker 13: bought parking, you know, vacant lots and made additional parking, 905 00:46:15,200 --> 00:46:17,040 Speaker 13: so we actually became kind of a sea of parking. 906 00:46:17,400 --> 00:46:21,000 Speaker 13: And now we have this opportunity to reimagine this neighborhood. 907 00:46:21,040 --> 00:46:23,800 Speaker 13: It's not We're not Danny, I've talked. This isn't It 908 00:46:23,960 --> 00:46:25,800 Speaker 13: is not an entertainment district that you see in a 909 00:46:25,840 --> 00:46:29,440 Speaker 13: lot of other cities with their buildings, their arenas and stadiums. 910 00:46:29,760 --> 00:46:32,279 Speaker 13: This is an opportunity to do something different for the 911 00:46:32,320 --> 00:46:36,520 Speaker 13: West Side. So it will be privately financed, and you 912 00:46:36,560 --> 00:46:40,480 Speaker 13: know we're talking we're talking a lot of development, whether 913 00:46:40,520 --> 00:46:44,320 Speaker 13: it's we're building a music hall, we're building hotels, affordable housing, 914 00:46:44,719 --> 00:46:46,800 Speaker 13: open park space. I mean, it's it's kind of like 915 00:46:46,960 --> 00:46:50,120 Speaker 13: Chicago's West Side. It's it's their time, it's our time. 916 00:46:50,200 --> 00:46:53,080 Speaker 2: There's a big conversation about crime in this campaign that 917 00:46:53,200 --> 00:46:55,400 Speaker 2: you hear a lot about. I'm sure the former president 918 00:46:55,480 --> 00:46:59,880 Speaker 2: Donald Trump has been criticizing Chicago of using crime statistics 919 00:47:00,200 --> 00:47:02,880 Speaker 2: in some of his speeches, and we have to acknowledge 920 00:47:03,200 --> 00:47:05,279 Speaker 2: the reality of the matter. But when you consider an 921 00:47:05,360 --> 00:47:07,719 Speaker 2: investment of that scale and you look at the geography, 922 00:47:07,880 --> 00:47:11,800 Speaker 2: is it you build it and they will come the 923 00:47:11,960 --> 00:47:16,320 Speaker 2: timing is what I'm curious about considering the backdrop of 924 00:47:16,400 --> 00:47:19,320 Speaker 2: your investment here when it comes to crime in Chicago. 925 00:47:19,800 --> 00:47:22,960 Speaker 5: Well, we have a long term view, Danny. How long 926 00:47:23,000 --> 00:47:23,799 Speaker 5: has your family been. 927 00:47:23,719 --> 00:47:25,719 Speaker 14: Been here for almost one hundred years and tell you, 928 00:47:25,719 --> 00:47:29,600 Speaker 14: you know, crime has always been something that we've had 929 00:47:29,640 --> 00:47:31,840 Speaker 14: to contend with and work with. But we also know 930 00:47:31,960 --> 00:47:34,560 Speaker 14: that when when we invest in the neighborhoods and when 931 00:47:34,600 --> 00:47:37,440 Speaker 14: you invest in economic development, that is one way to 932 00:47:37,480 --> 00:47:39,560 Speaker 14: help create opportunities that gets to sort of the root 933 00:47:39,640 --> 00:47:41,399 Speaker 14: cause of some of the crime issues you see today. 934 00:47:41,480 --> 00:47:44,759 Speaker 14: So I think Chicago has a history of really rolling 935 00:47:44,840 --> 00:47:46,640 Speaker 14: up our sleeves and trying to be part of the solution, 936 00:47:47,400 --> 00:47:50,680 Speaker 14: try to partner, you know, with the public sector to 937 00:47:50,719 --> 00:47:53,400 Speaker 14: figure out how do how do we create those opportunities 938 00:47:53,440 --> 00:47:55,640 Speaker 14: to help, you know, stem some of those problems from violence. 939 00:47:55,719 --> 00:47:57,600 Speaker 13: Yeah, you have to understand one thing. When the United 940 00:47:57,680 --> 00:48:00,960 Speaker 13: Center opened, there was no one went west of the 941 00:48:01,239 --> 00:48:04,839 Speaker 13: business district. Yes, and units in open ninety four. Mayor 942 00:48:04,920 --> 00:48:07,520 Speaker 13: Daily wanted to bring the convention to you know, make 943 00:48:07,600 --> 00:48:08,960 Speaker 13: up for what happened in sixty eight. 944 00:48:09,880 --> 00:48:10,399 Speaker 5: Ninety six. 945 00:48:10,560 --> 00:48:14,680 Speaker 13: Convention went off perfectly, and then all the developments started happening. 946 00:48:14,840 --> 00:48:17,520 Speaker 13: I don't think Fulton Market, which is just to the 947 00:48:17,520 --> 00:48:19,520 Speaker 13: east of US, I don't think that naturally happens without 948 00:48:19,600 --> 00:48:22,759 Speaker 13: the Uniteds that are kickstarting all of this. So for us, 949 00:48:23,320 --> 00:48:27,320 Speaker 13: we're not worried about the timing. We think the timing 950 00:48:27,400 --> 00:48:28,040 Speaker 13: is right right now. 951 00:48:28,760 --> 00:48:33,200 Speaker 3: Well, the timing for having the public cooperation with investing 952 00:48:33,239 --> 00:48:35,480 Speaker 3: in things like stadiums, as we've seen evidence by say 953 00:48:35,480 --> 00:48:37,799 Speaker 3: the Chicago Bears, for example, doesn't seem to be great. 954 00:48:37,840 --> 00:48:39,560 Speaker 3: There's been a lot of pushback in that. And I 955 00:48:39,680 --> 00:48:42,360 Speaker 3: know you just said that you're planning to finance this privately, 956 00:48:42,440 --> 00:48:45,600 Speaker 3: but what do you think about the dynamic surrounding the 957 00:48:45,719 --> 00:48:49,080 Speaker 3: financing mechanism of these investments into sports facilities of Frinkley 958 00:48:49,280 --> 00:48:51,239 Speaker 3: the facilities around them. If, as you say, this is 959 00:48:51,239 --> 00:48:54,359 Speaker 3: about helping to invest economically, that could help with things 960 00:48:54,480 --> 00:48:55,040 Speaker 3: like crimet I. 961 00:48:55,040 --> 00:48:59,200 Speaker 14: Think every situation is very different. Every you know, wherever 962 00:48:59,239 --> 00:49:01,560 Speaker 14: you're looking to do your development, has different opportunities, and 963 00:49:01,600 --> 00:49:04,680 Speaker 14: I think it is that partnership, you know, with the 964 00:49:04,760 --> 00:49:07,640 Speaker 14: public to figure out where that benefit lies. We know 965 00:49:07,719 --> 00:49:10,399 Speaker 14: in our situation, you know, we own our land, We've 966 00:49:10,440 --> 00:49:12,600 Speaker 14: owned our land for a long time. We've been part 967 00:49:12,640 --> 00:49:15,000 Speaker 14: of this community for almost one hundred years, so you 968 00:49:15,080 --> 00:49:17,799 Speaker 14: have a good feel of what the neighborhood needs, how 969 00:49:17,880 --> 00:49:19,920 Speaker 14: to how to find those nice trade offs and those 970 00:49:19,920 --> 00:49:22,239 Speaker 14: important trade offs between our commerce and what we need 971 00:49:22,280 --> 00:49:24,440 Speaker 14: from the community, and then you build it together. And 972 00:49:24,480 --> 00:49:27,360 Speaker 14: I think other developments are going to obviously are putting 973 00:49:27,400 --> 00:49:28,920 Speaker 14: that more at the forefront than ever before. 974 00:49:29,120 --> 00:49:31,399 Speaker 2: When you consider public private partnership and just the role 975 00:49:31,440 --> 00:49:35,560 Speaker 2: that you play in this city. You're no strangers to politics, 976 00:49:35,560 --> 00:49:37,719 Speaker 2: which is what we talk about every day here on 977 00:49:37,840 --> 00:49:41,440 Speaker 2: this program. Are politics making it more difficult to do 978 00:49:41,560 --> 00:49:43,800 Speaker 2: business or the conduit for your success? 979 00:49:45,480 --> 00:49:47,840 Speaker 13: I mean, for us, I think that there seems to 980 00:49:47,920 --> 00:49:51,160 Speaker 13: be a lot of interest in our development. When we 981 00:49:51,280 --> 00:49:54,520 Speaker 13: went to the Mayor's office, we talked to people you 982 00:49:54,600 --> 00:50:02,520 Speaker 13: know that surround him, all the men Walter Burnette. 983 00:50:00,040 --> 00:50:01,759 Speaker 5: And seem to be on board. Like to me, this 984 00:50:02,000 --> 00:50:03,800 Speaker 5: was almost like a no brainer. I mean, you have 985 00:50:03,880 --> 00:50:08,320 Speaker 5: a group of people that want to spend seven billion. 986 00:50:08,120 --> 00:50:11,880 Speaker 2: Dollars, they might want to take that meeting. Yeah, Night's 987 00:50:11,960 --> 00:50:14,480 Speaker 2: relationships are long and important to you. 988 00:50:15,080 --> 00:50:16,400 Speaker 5: Of course. I mean we have. 989 00:50:18,200 --> 00:50:20,640 Speaker 13: You know, we have friendships going back many many years. 990 00:50:20,680 --> 00:50:23,240 Speaker 13: Now we have a new mayor here who just became 991 00:50:23,280 --> 00:50:25,920 Speaker 13: mayor of last year, and we're developing a relationship with him. 992 00:50:26,000 --> 00:50:28,960 Speaker 13: But like I said earlier, our families go back a 993 00:50:29,080 --> 00:50:33,560 Speaker 13: long long time. We're about Chicago, not about the politics. 994 00:50:34,160 --> 00:50:37,120 Speaker 13: It's what can we do to make Chicago a better place. 995 00:50:38,000 --> 00:50:40,399 Speaker 3: Well, a lot of the politics today, or at least 996 00:50:40,400 --> 00:50:42,759 Speaker 3: the political issues that seem to be dominating in there. 997 00:50:42,840 --> 00:50:44,720 Speaker 3: I certainly we're seeing this week and in this election 998 00:50:44,880 --> 00:50:48,680 Speaker 3: surround the economy as well. We've seen such a change 999 00:50:48,719 --> 00:50:50,920 Speaker 3: in the economy over the last four years from the pandemic, 1000 00:50:51,000 --> 00:50:54,080 Speaker 3: which obviously shut down facilities like the United Center for 1001 00:50:54,120 --> 00:50:56,760 Speaker 3: an extended period of time, to this resurgence and demand 1002 00:50:56,880 --> 00:50:59,799 Speaker 3: for that experience economy people wanted to go to live 1003 00:50:59,840 --> 00:51:02,520 Speaker 3: of events like sports games and concerts. Now we're all 1004 00:51:03,360 --> 00:51:05,600 Speaker 3: asking this question of whether or not the softening is 1005 00:51:05,960 --> 00:51:08,200 Speaker 3: finally upon us in the labor market and potentially in 1006 00:51:08,280 --> 00:51:11,560 Speaker 3: consumption as a result. Are you seeing any any signs 1007 00:51:11,600 --> 00:51:14,160 Speaker 3: of that in a waning of demand or is there 1008 00:51:14,320 --> 00:51:15,120 Speaker 3: still demand to go? 1009 00:51:15,400 --> 00:51:18,360 Speaker 14: I think for some expensive things for sports and entertainment, 1010 00:51:18,560 --> 00:51:21,880 Speaker 14: I think it seems like every year is bigger than 1011 00:51:21,880 --> 00:51:23,600 Speaker 14: the last year. I think we had a record year 1012 00:51:23,680 --> 00:51:27,560 Speaker 14: for other events outside of our two teams. Last season, 1013 00:51:28,960 --> 00:51:32,160 Speaker 14: we obviously here across the board Lollapalooza had record attendance 1014 00:51:32,200 --> 00:51:35,360 Speaker 14: this year for live music and festivals. So again, I 1015 00:51:35,400 --> 00:51:38,239 Speaker 14: think that desire to be connected, that desire for experience 1016 00:51:38,760 --> 00:51:40,480 Speaker 14: and people willing to pay for it is still there. 1017 00:51:40,560 --> 00:51:42,520 Speaker 14: So at least in that part of the business, for sure, 1018 00:51:42,680 --> 00:51:47,200 Speaker 14: we see some nice tailwinds, whereas you know, other parts 1019 00:51:47,200 --> 00:51:48,560 Speaker 14: of the business definitely see some of those. 1020 00:51:48,800 --> 00:51:51,000 Speaker 13: I think it's helped that in the music industry changed 1021 00:51:51,000 --> 00:51:54,760 Speaker 13: so much over the years that before putting out albums 1022 00:51:54,920 --> 00:51:55,839 Speaker 13: was really made the money. 1023 00:51:56,480 --> 00:51:57,640 Speaker 5: Now it's tory. 1024 00:51:58,000 --> 00:52:00,319 Speaker 13: So now you have all these acts, and so every 1025 00:52:00,400 --> 00:52:02,360 Speaker 13: year seems like we're getting more and more acts. And 1026 00:52:02,440 --> 00:52:04,680 Speaker 13: how many different concerts did we do last year? 1027 00:52:05,040 --> 00:52:07,240 Speaker 14: I mean, I think we're almost eighty different content. 1028 00:52:07,600 --> 00:52:08,800 Speaker 5: It's kind of crazy. 1029 00:52:08,800 --> 00:52:10,560 Speaker 13: And so now we're building this music hall, which is 1030 00:52:10,600 --> 00:52:13,440 Speaker 13: a six thousand seat venue, and that's going to get 1031 00:52:13,480 --> 00:52:14,439 Speaker 13: some of the smaller acts. 1032 00:52:14,520 --> 00:52:17,919 Speaker 5: And we don't see a softening. 1033 00:52:17,680 --> 00:52:20,239 Speaker 14: Right now, and especially in the markets like Chicago, which 1034 00:52:20,239 --> 00:52:22,680 Speaker 14: seems to be able to absorb a tremendous amount of 1035 00:52:22,840 --> 00:52:24,000 Speaker 14: live events and entertainment. 1036 00:52:24,120 --> 00:52:27,759 Speaker 13: Sure Chicago loves Yeah, Chicago loves is sports. So we 1037 00:52:27,880 --> 00:52:29,680 Speaker 13: feel pretty good about where we're at here. 1038 00:52:29,760 --> 00:52:32,440 Speaker 2: But it's an interesting take that you have just broadly 1039 00:52:32,560 --> 00:52:37,160 Speaker 2: beyond even spending on events, sports and concerts, you don't 1040 00:52:37,200 --> 00:52:41,280 Speaker 2: see a consumer prepared to slow down or more wary 1041 00:52:42,160 --> 00:52:43,040 Speaker 2: about conditions. 1042 00:52:43,480 --> 00:52:43,839 Speaker 5: I think. 1043 00:52:44,600 --> 00:52:47,000 Speaker 13: I think what we see is that you better make 1044 00:52:47,080 --> 00:52:50,360 Speaker 13: sure that you are delivering a special experience from the 1045 00:52:50,400 --> 00:52:53,480 Speaker 13: time that someone gets into their car or takes the 1046 00:52:53,600 --> 00:52:56,600 Speaker 13: train or takes their ride sharing to you know, get 1047 00:52:56,719 --> 00:52:59,919 Speaker 13: parking the car, going to the building, getting their food, 1048 00:53:00,040 --> 00:53:01,840 Speaker 13: getting their drinks. We better make sure that it is 1049 00:53:01,920 --> 00:53:06,760 Speaker 13: a top quality experience. And that's some of the biggest 1050 00:53:06,800 --> 00:53:09,840 Speaker 13: challenges we have because we don't control the traffic, we 1051 00:53:09,880 --> 00:53:12,560 Speaker 13: don't control certain things. We don't control when it's a 1052 00:53:12,600 --> 00:53:15,320 Speaker 13: blizzard in the middle of winter. Probably one of the 1053 00:53:15,360 --> 00:53:17,120 Speaker 13: great things about this DNC is that it's in the 1054 00:53:17,160 --> 00:53:20,120 Speaker 13: summer right above that not here in the winter. 1055 00:53:20,400 --> 00:53:22,400 Speaker 3: I have to say, the weather right now is certainly preferable. 1056 00:53:23,960 --> 00:53:25,800 Speaker 2: We ordered up for you guys, thank you. 1057 00:53:26,640 --> 00:53:28,239 Speaker 3: I want to ask as well because something we just 1058 00:53:28,280 --> 00:53:30,560 Speaker 3: saw happen in Washington last year was the purchase of 1059 00:53:30,600 --> 00:53:34,000 Speaker 3: a sports team for a pretty rich valuation in the Commanders. 1060 00:53:34,040 --> 00:53:38,120 Speaker 3: We've seen the valuations seem to go up in general, 1061 00:53:38,160 --> 00:53:40,000 Speaker 3: and I wonder if you think this is something that 1062 00:53:40,120 --> 00:53:43,000 Speaker 3: is sustainable. How you're considering your own valuation for the 1063 00:53:43,040 --> 00:53:44,879 Speaker 3: black Hawks at this time, If you've been having any 1064 00:53:44,960 --> 00:53:48,239 Speaker 3: conversations with private equity about these kind of things, can 1065 00:53:48,280 --> 00:53:48,840 Speaker 3: you just shed some. 1066 00:53:48,960 --> 00:53:52,560 Speaker 14: Light on that, Danny, I'm fourth generation owner of our family, 1067 00:53:52,600 --> 00:53:54,960 Speaker 14: I think, one of the longest contiguous owners of a 1068 00:53:55,560 --> 00:53:58,160 Speaker 14: major sports franchise in all of sports, and for us, 1069 00:53:58,239 --> 00:54:00,680 Speaker 14: it's something we just hold really dear to our family. 1070 00:54:00,960 --> 00:54:03,160 Speaker 14: So we're sort of in a very unique situation from 1071 00:54:03,200 --> 00:54:06,759 Speaker 14: an ownership standpoint, which, of course the interests in these 1072 00:54:06,880 --> 00:54:10,680 Speaker 14: very coveted licenses are driving those values up. So we 1073 00:54:10,800 --> 00:54:14,600 Speaker 14: love the valuation, but it doesn't necessarily change our strategy 1074 00:54:14,719 --> 00:54:18,640 Speaker 14: to continue to hold and develop and grow our family 1075 00:54:18,680 --> 00:54:20,480 Speaker 14: asset for another few generations. 1076 00:54:20,560 --> 00:54:22,520 Speaker 13: And what about for the Bulls, for the Bulls, I 1077 00:54:22,600 --> 00:54:25,880 Speaker 13: mean for the Chicago Bulls. Why would we want to 1078 00:54:25,920 --> 00:54:28,520 Speaker 13: get out being part of the Chicago Bulls. I mean, 1079 00:54:28,560 --> 00:54:32,200 Speaker 13: we were the first, probably the first global sports franchise 1080 00:54:32,239 --> 00:54:35,680 Speaker 13: in the world thanks to Michael Jordan. So for our 1081 00:54:35,760 --> 00:54:39,880 Speaker 13: family and for our investors, our partners, we're not interested 1082 00:54:39,960 --> 00:54:43,640 Speaker 13: in being a seller. Is it nice that the valuations 1083 00:54:43,680 --> 00:54:45,960 Speaker 13: of these teams are going up. Sure, but at the 1084 00:54:46,040 --> 00:54:48,279 Speaker 13: same time we're not going to realize any of that 1085 00:54:48,440 --> 00:54:50,800 Speaker 13: because it's the bulls aren't going anywhere. 1086 00:54:51,040 --> 00:54:54,400 Speaker 2: Well, we have another big sports deal in Washington, d C. 1087 00:54:54,520 --> 00:54:57,080 Speaker 2: And that was Ted Leonsen's teams deciding to stay in 1088 00:54:57,239 --> 00:55:00,840 Speaker 2: Washington and a massive deal to kind of of rebuild 1089 00:55:01,000 --> 00:55:04,160 Speaker 2: the neighborhood. He talked to us about the challenges of 1090 00:55:04,880 --> 00:55:10,040 Speaker 2: moving buildings, changing spaces that allow people to flow into 1091 00:55:10,120 --> 00:55:13,280 Speaker 2: a new area that they might not be going to otherwise. 1092 00:55:13,320 --> 00:55:15,520 Speaker 2: You're facing something similar here when you've got a river 1093 00:55:15,640 --> 00:55:17,000 Speaker 2: in the way, You've got a couple of things. How 1094 00:55:17,000 --> 00:55:21,040 Speaker 2: do you envision this project in western Chicago in a 1095 00:55:21,080 --> 00:55:24,080 Speaker 2: way that will actually bring the flow of people to Europe. Actually, 1096 00:55:24,080 --> 00:55:25,160 Speaker 2: think the hardest. 1097 00:55:24,840 --> 00:55:27,000 Speaker 14: Part was thirty years ago, as Michael said, you know, 1098 00:55:27,200 --> 00:55:29,320 Speaker 14: crossing that threshold to come to the West Side to 1099 00:55:29,360 --> 00:55:32,400 Speaker 14: see an event. And you know, over seventy years, you know, 1100 00:55:32,440 --> 00:55:34,360 Speaker 14: people got used to coming to the Chicago Stadium, but 1101 00:55:34,680 --> 00:55:37,680 Speaker 14: it didn't offer a lot on the way where we're 1102 00:55:37,680 --> 00:55:40,600 Speaker 14: at now. The growth happening on the west side of 1103 00:55:40,800 --> 00:55:44,680 Speaker 14: Chicago is tremendous. Fulton Market is the most explosive neighborhood 1104 00:55:44,719 --> 00:55:46,840 Speaker 14: in the city of Chicago. That's right at our doorstep. 1105 00:55:47,120 --> 00:55:49,440 Speaker 14: The growth of the Illinois Medical District just south of us. 1106 00:55:50,400 --> 00:55:52,960 Speaker 14: So there's momentum here and there's a lot of other 1107 00:55:53,080 --> 00:55:55,920 Speaker 14: things happening around this development that I think gave us 1108 00:55:56,360 --> 00:55:59,080 Speaker 14: the confidence that the energy is coming, and the energy 1109 00:55:59,160 --> 00:56:00,680 Speaker 14: is here, and the infant ructures. 1110 00:56:00,400 --> 00:56:01,120 Speaker 5: In the infrastructure. 1111 00:56:01,120 --> 00:56:03,279 Speaker 14: Now that's an area where I think I think the 1112 00:56:03,360 --> 00:56:06,040 Speaker 14: city is very interested in really understanding what the infrastructure 1113 00:56:06,120 --> 00:56:07,839 Speaker 14: needs are to make sure we can continue to bring 1114 00:56:07,960 --> 00:56:10,960 Speaker 14: people here through the various forms of transportation that we have, 1115 00:56:11,040 --> 00:56:14,080 Speaker 14: all the things we need for this to be continued 1116 00:56:14,080 --> 00:56:14,920 Speaker 14: by our neighborhood. 1117 00:56:15,080 --> 00:56:16,759 Speaker 2: What a treat to have this much time. Thank you 1118 00:56:16,880 --> 00:56:19,160 Speaker 2: both for being so generous, A great conversation here. Yeah, 1119 00:56:19,200 --> 00:56:22,400 Speaker 2: this is why we came to Chicago. Denny Words, Michael Reinstorff. 1120 00:56:22,440 --> 00:56:24,080 Speaker 2: Great to see both of you and thank you for 1121 00:56:24,200 --> 00:56:30,120 Speaker 2: being with us on Balance of Power. Thanks for listening 1122 00:56:30,200 --> 00:56:33,480 Speaker 2: to the Balance of Power podcast. Make sure to subscribe 1123 00:56:33,560 --> 00:56:36,200 Speaker 2: if you haven't already, at Apple, Spotify, or wherever you 1124 00:56:36,280 --> 00:56:39,040 Speaker 2: get your podcasts, and you can find us live every 1125 00:56:39,080 --> 00:56:42,839 Speaker 2: weekday from Washington, DC, at noontime Eastern at Bloomberg dot 1126 00:56:42,920 --> 00:56:43,080 Speaker 2: com