1
00:00:03,200 --> 00:00:06,600
Speaker 1: Global business news twenty four hours a day at Bloomberg

2
00:00:06,640 --> 00:00:09,720
Speaker 1: dot com, the Radio plus Mobile Act and on your radio.

3
00:00:10,000 --> 00:00:14,080
Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Handquarters.

4
00:00:14,160 --> 00:00:16,759
Speaker 1: I'm Charlie Plot with the Bloomberg Business Flash brought you

5
00:00:16,800 --> 00:00:20,119
Speaker 1: by National Realty Managers of New York City cash Flow

6
00:00:20,160 --> 00:00:25,040
Speaker 1: real Estate, providing you twelve percent annualized returns with immediate

7
00:00:25,120 --> 00:00:28,400
Speaker 1: monthly distribution. See them at n r i A dot net.

8
00:00:28,520 --> 00:00:30,880
Speaker 1: Now let's head right over to the first Word Breaking

9
00:00:30,920 --> 00:00:34,239
Speaker 1: news desk fort Today's afternoon call, and here's Bill Maloney.

10
00:00:34,600 --> 00:00:37,879
Speaker 1: Good afternoon, Charlie. Stocks are climbing today, with the Dow

11
00:00:37,960 --> 00:00:40,760
Speaker 1: currently hired by a hundred and twenty five points. SUPs

12
00:00:40,800 --> 00:00:44,760
Speaker 1: gained eleven and AzaC rises thirty, Small CAPSI shund gainst

13
00:00:44,800 --> 00:00:47,280
Speaker 1: six points, and he was ten yield at one point

14
00:00:47,479 --> 00:00:50,680
Speaker 1: seven to per cent. Seven out of eleven sub sectors

15
00:00:50,720 --> 00:00:53,800
Speaker 1: are higher lit by gains and energy, Financials and the materials,

16
00:00:54,080 --> 00:00:57,840
Speaker 1: while real estate, telcom and utilities led to the downside.

17
00:00:58,440 --> 00:01:02,160
Speaker 1: Transports gained fifty four our utilities dropped two points, NAZI

18
00:01:02,200 --> 00:01:05,480
Speaker 1: botex rise thirty, and the vix is down by six

19
00:01:05,520 --> 00:01:08,160
Speaker 1: point six percent. Leaders to the upside in the down

20
00:01:08,200 --> 00:01:13,000
Speaker 1: included Caterpillar, Goldman, Sachs, and JP Morgan. Verizon fell one percent,

21
00:01:13,480 --> 00:01:17,040
Speaker 1: Chesapeake Energy trans Ocean rose six percent amid gains in

22
00:01:17,280 --> 00:01:20,640
Speaker 1: energy price line traded above fifteen hundred dollars per share,

23
00:01:21,000 --> 00:01:24,560
Speaker 1: while Sara Salesforce fell five percent and made reports the

24
00:01:24,560 --> 00:01:27,839
Speaker 1: companies among the bidders for Twitter find the Young Brands

25
00:01:27,880 --> 00:01:30,440
Speaker 1: reports after the bell Tonight, estimates are for a dollar

26
00:01:30,520 --> 00:01:33,959
Speaker 1: ten on revenues of three point four nine billion, Live

27
00:01:34,000 --> 00:01:36,600
Speaker 1: from the First Baking newsdask on Bill Maloney, Charlie, all right,

28
00:01:36,640 --> 00:01:38,639
Speaker 1: thank you very much, Bill, and to hear live breaking

29
00:01:38,680 --> 00:01:42,000
Speaker 1: news over your Bloomberg Times squawk. Ask you a w

30
00:01:42,200 --> 00:01:45,640
Speaker 1: K on your terminal. I'm Charlie Pelos. That's a Bloomberg

31
00:01:45,640 --> 00:01:50,400
Speaker 1: business flash. You're listening to taking stock with Pim Box

32
00:01:50,400 --> 00:01:54,960
Speaker 1: and Kathleen Hayes on Bloomberg Radio. Water we all take

33
00:01:55,000 --> 00:01:57,400
Speaker 1: it for granted, but it seems to be the one

34
00:01:57,480 --> 00:02:01,960
Speaker 1: commodity that is immune to the factor of supply and demand.

35
00:02:02,360 --> 00:02:05,040
Speaker 1: Here to tell us how water factors into so many

36
00:02:05,040 --> 00:02:08,080
Speaker 1: aspects of our life and business is built a crow Check.

37
00:02:08,200 --> 00:02:11,640
Speaker 1: He is the president and the chief executive of Veolia

38
00:02:12,040 --> 00:02:14,320
Speaker 1: North America. Bill, thank you very much for coming into

39
00:02:14,320 --> 00:02:17,680
Speaker 1: the studio. My pleasure. Now just tell people a little

40
00:02:17,680 --> 00:02:20,640
Speaker 1: bit about the Volia. It is a French company, you're

41
00:02:20,680 --> 00:02:23,639
Speaker 1: the head of the North American business, and you're moving

42
00:02:23,840 --> 00:02:27,400
Speaker 1: the headquarters of the company from Chicago to Boston home

43
00:02:27,440 --> 00:02:33,240
Speaker 1: to Bloomberg. Tell us about the company and the move. Sure, so, Violis,

44
00:02:33,320 --> 00:02:35,560
Speaker 1: it's a it's a Paris based company, but we're an

45
00:02:35,600 --> 00:02:39,360
Speaker 1: international company. Um long history and water goes back a

46
00:02:39,400 --> 00:02:43,040
Speaker 1: hundred and fifty years as a French water utility. Over

47
00:02:43,080 --> 00:02:45,720
Speaker 1: the last fifteen years though, from that long history of

48
00:02:45,760 --> 00:02:49,760
Speaker 1: being a Western European water company, we really moved into

49
00:02:49,800 --> 00:02:53,400
Speaker 1: a position to be the world's largest all environmental firm

50
00:02:53,480 --> 00:02:58,400
Speaker 1: and we focus on water, energy, and waste basically around

51
00:02:58,480 --> 00:03:03,720
Speaker 1: resource resource management it on all those fronts. Um and

52
00:03:03,960 --> 00:03:06,959
Speaker 1: fundamental to that premise is what we call the circular economy,

53
00:03:07,000 --> 00:03:10,000
Speaker 1: which is trying to take people from a mental people, businesses,

54
00:03:10,720 --> 00:03:14,480
Speaker 1: cities away from a mentality of buy use, throw away

55
00:03:14,760 --> 00:03:20,280
Speaker 1: to buy use, reuse, repurpose and then maybe as much

56
00:03:20,400 --> 00:03:23,080
Speaker 1: as little waste as possible. So really it's it's taking

57
00:03:23,080 --> 00:03:26,120
Speaker 1: it from a linear thought process to a circular thought process.

58
00:03:26,120 --> 00:03:27,840
Speaker 1: So what do you sell them, the people that you

59
00:03:27,840 --> 00:03:30,400
Speaker 1: want to go circular, what do you sell them? We

60
00:03:30,400 --> 00:03:33,400
Speaker 1: we sell them services generally, So give for you for

61
00:03:33,440 --> 00:03:36,560
Speaker 1: an example. This is outside of it. It stretches across

62
00:03:36,600 --> 00:03:38,520
Speaker 1: water ennygy ways. But I'll give an example in water.

63
00:03:38,720 --> 00:03:41,680
Speaker 1: So we're building a plant right now in Marcellus shale

64
00:03:42,360 --> 00:03:46,320
Speaker 1: field where um we will take the water that comes

65
00:03:46,320 --> 00:03:49,120
Speaker 1: out after a frack. We will treat it so that

66
00:03:49,200 --> 00:03:52,040
Speaker 1: it can be either reused for the next round of

67
00:03:52,040 --> 00:03:56,280
Speaker 1: FRACKINGE or it can be discharged in environmentally safe manner.

68
00:03:56,640 --> 00:03:58,720
Speaker 1: So that's a case where it's it's a circular reuse

69
00:03:59,080 --> 00:04:02,080
Speaker 1: type of situation. In other cases, in refineries, we take

70
00:04:02,640 --> 00:04:05,440
Speaker 1: oily residuals where there's water and oil and other solids

71
00:04:05,480 --> 00:04:08,400
Speaker 1: mixed into part of a refinery process. We purify that,

72
00:04:08,840 --> 00:04:11,520
Speaker 1: will recycle the water, send it back to the refinery

73
00:04:11,880 --> 00:04:13,600
Speaker 1: or will send it back to their own treatment system,

74
00:04:13,640 --> 00:04:15,720
Speaker 1: will take out the oily components, give them the oil

75
00:04:15,720 --> 00:04:17,920
Speaker 1: back so they can put it back into the refinery process.

76
00:04:18,240 --> 00:04:20,520
Speaker 1: And then finally the solids that are left over, we

77
00:04:20,640 --> 00:04:23,599
Speaker 1: reinject into what's called the coker, which is it's a

78
00:04:23,640 --> 00:04:27,000
Speaker 1: way to actually combust it within the refining process, so

79
00:04:27,080 --> 00:04:30,120
Speaker 1: the waste streams are minimized, reus is maximized. It's a

80
00:04:30,120 --> 00:04:33,440
Speaker 1: bottom line benefit, and it's a reduced environmental footprint for

81
00:04:33,480 --> 00:04:35,800
Speaker 1: the refinery. So those are a couple of examples. Now,

82
00:04:35,839 --> 00:04:38,960
Speaker 1: I started when I introduced to you by describing water

83
00:04:39,040 --> 00:04:42,640
Speaker 1: as a commodity where supply and demand don't necessarily have

84
00:04:42,760 --> 00:04:46,080
Speaker 1: any effect on the price. Tell us about this. Yeah,

85
00:04:46,120 --> 00:04:48,919
Speaker 1: it's one of the big challenges of dealing with water

86
00:04:49,000 --> 00:04:55,400
Speaker 1: scarcity and water resource management. Water is substantially underpriced, and

87
00:04:55,520 --> 00:04:58,520
Speaker 1: you know, it's a touchy issue because many folks believe

88
00:04:58,560 --> 00:05:01,320
Speaker 1: that it's a right as as a citizen of planet

89
00:05:01,320 --> 00:05:03,920
Speaker 1: Earth to have access to water. In reality, there's this

90
00:05:04,080 --> 00:05:08,720
Speaker 1: filla cost, whether it's through scarcity or just normal um

91
00:05:08,960 --> 00:05:12,040
Speaker 1: the cost of moving water around. So, for example, in California,

92
00:05:12,080 --> 00:05:14,560
Speaker 1: where's a scarcity issue, we still price water in a

93
00:05:14,640 --> 00:05:17,480
Speaker 1: very cheap fashion where people can overuse and there's really

94
00:05:17,480 --> 00:05:21,119
Speaker 1: no economic pinch. So there's a dissociation between the price

95
00:05:21,160 --> 00:05:24,839
Speaker 1: of water and it's fundamental cost of delivery and the

96
00:05:24,880 --> 00:05:31,560
Speaker 1: notion of scarcity. How much has the consciousness of businesses changed?

97
00:05:31,720 --> 00:05:33,640
Speaker 1: Is it dutiful now? Like oh, yeah, I guess you'd

98
00:05:33,640 --> 00:05:35,320
Speaker 1: better got on board with this. It's getting a lot

99
00:05:35,360 --> 00:05:38,839
Speaker 1: more popular. Is there some sense of it being their duty?

100
00:05:38,920 --> 00:05:41,480
Speaker 1: Is there some sense of it being a good business

101
00:05:41,480 --> 00:05:44,320
Speaker 1: strategy in terms of cost over the longer haul? Yeah?

102
00:05:44,360 --> 00:05:46,640
Speaker 1: I think when you when you look at this notion

103
00:05:46,680 --> 00:05:49,560
Speaker 1: again of circular economy and sustainable development, it's come a

104
00:05:49,600 --> 00:05:52,839
Speaker 1: long way. If you go back, you know, ten fifteen years,

105
00:05:52,920 --> 00:05:55,680
Speaker 1: it was looked out maybe maybe a little further, called

106
00:05:55,680 --> 00:05:58,440
Speaker 1: them tree huggers. It progressed into a phase where there

107
00:05:58,480 --> 00:06:00,839
Speaker 1: were new technologies, there was a new wonder standing, but

108
00:06:00,920 --> 00:06:03,240
Speaker 1: people were still applying green plaint in other words, a

109
00:06:03,279 --> 00:06:06,320
Speaker 1: facade that looked sustainable, not but not really into the

110
00:06:06,320 --> 00:06:09,160
Speaker 1: core of business processes. Today, what you see our businesses

111
00:06:09,240 --> 00:06:12,839
Speaker 1: either for the reason of satisfying both greens as I

112
00:06:12,920 --> 00:06:18,040
Speaker 1: call it, economics and environmental reasons. There's an underpinning for

113
00:06:18,040 --> 00:06:22,240
Speaker 1: for investment. So uh, for those examples that I just gave,

114
00:06:22,480 --> 00:06:26,280
Speaker 1: not only is there cleaner environmental footprint for the industry,

115
00:06:26,360 --> 00:06:29,640
Speaker 1: but their bottom line competitive improves. So that's just one

116
00:06:29,839 --> 00:06:34,400
Speaker 1: fundamental reason. Now that takes complexity, fully understanding value chains

117
00:06:34,440 --> 00:06:37,640
Speaker 1: and supply chains and really digging into processes and doing

118
00:06:37,680 --> 00:06:41,000
Speaker 1: them different differently and making investments. But companies are doing that.

119
00:06:41,320 --> 00:06:43,360
Speaker 1: I think the other thing worthy of note is companies

120
00:06:43,360 --> 00:06:46,200
Speaker 1: are also looking at this as a hedge. So for example,

121
00:06:47,279 --> 00:06:50,080
Speaker 1: you're at the forefront of something like organics to energy.

122
00:06:50,200 --> 00:06:51,960
Speaker 1: We know we waste too much food. We know it

123
00:06:52,040 --> 00:06:55,160
Speaker 1: was into landfills that creates methane, which is basically c

124
00:06:55,320 --> 00:06:58,200
Speaker 1: O two on steroids. When it comes to the to

125
00:06:58,279 --> 00:07:02,560
Speaker 1: the global impact, to the climate impact. Yet, although there's

126
00:07:02,600 --> 00:07:07,440
Speaker 1: many laws that limit the UH basically the disposal of

127
00:07:07,560 --> 00:07:12,640
Speaker 1: organics to landfills, there's not much enforcement yet. But companies

128
00:07:12,680 --> 00:07:15,360
Speaker 1: are understanding that they need to get ahead of the curve.

129
00:07:15,520 --> 00:07:18,280
Speaker 1: So you see some of the big food companies, the

130
00:07:18,400 --> 00:07:22,960
Speaker 1: high end um grocery store chains, other big box companies

131
00:07:22,960 --> 00:07:24,840
Speaker 1: that move a lot of food. They're getting out in

132
00:07:24,840 --> 00:07:27,360
Speaker 1: front of it. Bill the Crouchy, thank you so very much.

133
00:07:27,800 --> 00:07:30,040
Speaker 1: Thank you for getting out in front of our radio

134
00:07:30,080 --> 00:07:33,360
Speaker 1: audience here this afternoon on taking Stock. Fiells, President CEO

135
00:07:33,400 --> 00:07:37,240
Speaker 1: of Violia North America, based in Chicago, companies moving headquarters

136
00:07:37,240 --> 00:07:39,760
Speaker 1: to Boston. He's in New York for the second annual

137
00:07:39,760 --> 00:07:46,480
Speaker 1: Bloomberg Fistainable Business Summit. This is Bloomberg. Bloomberg taking Stock

138
00:07:46,520 --> 00:07:48,880
Speaker 1: has brought you by Withem Smith and Brown c p

139
00:07:49,040 --> 00:07:51,440
Speaker 1: a s autit tax and advisory services, helping you and

140
00:07:51,480 --> 00:07:54,240
Speaker 1: your business be in a position of strength. Experienced the

141
00:07:54,240 --> 00:08:00,200
Speaker 1: Withythm Way by visiting WITHTHM dot com