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Speaker 1: Broadcasting live to New York, Bloomberg eleventh Rio to Washington,

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Speaker 1: d C, Bloomberg to Boston, Bloomberg twelve hundred to San Francisco,

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Speaker 1: Bloomberg to the Country Channel one nine and around the

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Speaker 1: globe the Bloomberg Radio plus aappen Bloomberg dot gone. This

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Speaker 1: is taking Stock, coming up on taking stock, will take

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Speaker 1: stock of Luxury. It's all brought to you by your

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Speaker 1: Tri State BMW Center's visit them online at tri State

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Speaker 1: BMW dot com. At BMW they only make one thing,

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Speaker 1: the ultimate driving machine. Now, let's go to Charlie Pellett

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Speaker 1: in the Bloomberg newsroom for Bloomberg Business Flat and I

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Speaker 1: think you pim Fox. We have got twenty nine minutes

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Speaker 1: to go ahead of the closed final trading day for

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Speaker 1: the month of July, a sm P five hundred index

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Speaker 1: heading for a fifth monthly game. This update is brought

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Speaker 1: to you by National Realty Providers of one hundred percent

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Speaker 1: satisfaction guaranteed New York City Realty Investments. See them at

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Speaker 1: n r i A dot net. Data this morning showed

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Speaker 1: the US economy grew slower than forecast last quarter, giving

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Speaker 1: the Federal Reserve no reason to accelerate its timetable for

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Speaker 1: higher interest rates, earnings from Alphabet boosted technology shares. Alphabet,

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Speaker 1: of course, the parent of Google. IT shares up now

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Speaker 1: by three point one percent. We also heard from United

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Speaker 1: Parcel Service today UPS down seven tenths of one percent.

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Speaker 1: It says potential risks from a weak global economy are

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Speaker 1: presenting quote headwinds as the carrier enters the second half.

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Speaker 1: Richard Perett's his ups his cd FO. He was on

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Speaker 1: Bloomberg Television this morning talking about the company's European and

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Speaker 1: UK business post that Brexit vote. In fact, we have

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Speaker 1: committed about five billion dollars in Europe and the UK

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Speaker 1: in investments over the next five years and we're continue

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Speaker 1: those and we've actually announced the largest investment in the

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Speaker 1: UK in our history and we're still building that and

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Speaker 1: we need that for our network and it will continue

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Speaker 1: to grow. So we feel real good about the UK

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Speaker 1: and we'll make the adjustments that we need to. And

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Speaker 1: as we talk about earning XXA Mobile and Chevron missed

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Speaker 1: profit and production estimates, as wildfires right downs and weak

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Speaker 1: refining margins battered oil explorers already reeling under a glut

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Speaker 1: driven price collapse, crude oil West Texas Intermediate up today

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Speaker 1: by seven tenths of one percent, up thirty cents right

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Speaker 1: now on w t I Gold up one thirty nine

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Speaker 1: the Ounce and the SMP five index advancing two points

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Speaker 1: up point one percent. The Dow down twenty nine points,

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Speaker 1: a drop there of point two percent, three thirty two

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Speaker 1: on Wall Street. Now, let's take a look at some

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Speaker 1: of the other stories making news. Thank you, Charlie from

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Speaker 1: the Bloomberg Newsroom. I'm Jill Schneider. This news update is

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Speaker 1: brought to you by the Jeep Grand Cherokee, the most

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Speaker 1: awarded suv ever. The Grand Cherokee continues to raise the

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Speaker 1: bar with its luxurious interior and legendary four by four capability.

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Speaker 1: Drive one at your look well jeep dealer. Today, Michigan

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Speaker 1: officials have announced charges against six state employees in the

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Speaker 1: ongoing investigation into the Flint water crisis. Bill Shooty is

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Speaker 1: the Michigan Attorney General. Each of these individuals attempted to

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Speaker 1: bury or cover up, to downplay, or to hide information

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Speaker 1: that contradicted their own narrative their store. Each is charged

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Speaker 1: with felony misconduct and willful neglect of duty. Nearly sixty

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Speaker 1: of US hospitals lose access to their electronic health record

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Speaker 1: systems at least once a year. Bloomberg's Amy Morris has

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Speaker 1: more from the Bloomberg newsroom in Washington. The latest figures

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Speaker 1: from the Department of Health and Human Services Inspector General

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Speaker 1: finds the majority of hospitals participating in the Meaningful Use

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Speaker 1: Incentive program had unplanned disruptions in their record systems. Bloomberg

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Speaker 1: BNA reporter Alex Ruoff's as part of the problem, hospitals

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Speaker 1: priorities healthcare not I T. Traditionally, healthcare hasn't had to

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Speaker 1: think about these issues. Banking, you know, jumped on this

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Speaker 1: a long time ago and thinking about this kind of spending.

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Speaker 1: But we're in the trewery. Everything is an I T

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Speaker 1: component to any Morris, Bloomberg Radio, Washington. Human bones have

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Speaker 1: been discovered in a long forgotten cemetery where President William

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Speaker 1: McKinley's assassin was likely buried in New York. The Citizen

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Speaker 1: of Auburn reports that old newspaper accounts say Leon Chaw

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Speaker 1: Goosh was to be buried in the Auburn State Prison graveyard.

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Speaker 1: McKinley was killed in one Global News twenty four hours

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Speaker 1: a day, powered by more than twenty journalists and analysts

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Speaker 1: in more than one d twenty countries. I'm Joel Schneider.

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Speaker 1: This is Bloomberg, Charlie, and we thank you and again recapping,

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Speaker 1: We've got the SMP five hundred indecks higher by three

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Speaker 1: points to seventy three, a gain of one tenth of

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Speaker 1: one percent. I'm Charlie Pellett and that's a Bloomberg Business flash.

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Speaker 1: Bloom were taking stock the Luck's life, stocks, bonds, real estate.

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Speaker 1: I've got houses in l A, Paris and Vale. It's

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Speaker 1: good to be king. You've un if they got the

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Speaker 1: finest shifts around waiting for you to pace your offer,

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Speaker 1: you must be rich, honey, and you nobody have two

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Speaker 1: Telesia Bloomberg taking stock the Luck's Life on Bloomberg Radio.

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Speaker 1: He was born in December eighteen eighty in Mapleton, Iowa.

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Speaker 1: Garfield would better known as gar Wood. He was an

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Speaker 1: American inventor, entrepreneur, and motor boat builder. He was also

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Speaker 1: the first man to travel over one hundred miles per

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Speaker 1: hour on water. Here to tell us more about Garwood

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Speaker 1: Custom Boats is Joe Turcott. He is the manager of

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Speaker 1: Garwood Custom Boats based in Brant Lake, New York. Joe,

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Speaker 1: thanks very much for being with us. Tell people who

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Speaker 1: maybe are not familiar with the world of Garwood boats

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Speaker 1: as well as Cris Craft, tell us about what these

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Speaker 1: boats mean to the history of the United States. Well,

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Speaker 1: they were really the Garwood and Chris Graft really the

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Speaker 1: first pleasure boats that came about, um in the nineteen

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Speaker 1: twenties right on up through utes and fifties. You know,

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Speaker 1: they were all mahogany and uh for the first time

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Speaker 1: after the internal combustion engine, um. Uh in the auto industry. Uh,

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Speaker 1: they started putting in boats and people started power boating,

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Speaker 1: not just the auto industry, right. Uh. I have a

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Speaker 1: sound clip of the Liberty V twelve, a twenty seven

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Speaker 1: Leader V twelve World War One airplane engine, and that's

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Speaker 1: used in these boats. Let's listen to that now. This

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Speaker 1: is that vote running full blast, right. UM. You can't

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Speaker 1: you just can't tell how loud it is. What's it

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Speaker 1: like to drive around with the seven Leader V twelve

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Speaker 1: powering your mahogany boat. Oh, it's a sound and learn forget.

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Speaker 1: It's truly amazing. Um. Garwood was one of the first

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Speaker 1: guys to UH take aircraft engines and put him in

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Speaker 1: in wooden boats. And this was a big part of

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Speaker 1: his racing success in the early nineteen twenties and into

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Speaker 1: the nineteen thirties. But he also put them in in

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Speaker 1: pleasure boats. And his line of baby Guards was was

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Speaker 1: one of the first pleasure boats with an aircraft engine

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Speaker 1: in and was the fastest pleasure boat you could buy.

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Speaker 1: You've got a nineteen twenty six thirty three ft Garwood

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Speaker 1: baby guar? Who owned it? And tell us about this boat? Ah? Yeah,

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Speaker 1: it was originally built for Edward John Noble, who was

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Speaker 1: the president of Lifesaver Candy Company. H. He used the

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Speaker 1: boat on the St. Lawrence River in UH in the

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Speaker 1: nineteen twenties and thirties and that was powered by a

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Speaker 1: Liberty V twelve and UH and we restored that boat

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Speaker 1: here in and it's now in the Antique Boat Museum

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Speaker 1: in Clayton, New York. How much would a boat like

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Speaker 1: that command in price? Uh, there's only about eight or

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Speaker 1: ten left and UH recently one sold for a million

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Speaker 1: dollars million dollars. Well, I know Matt is also interested

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Speaker 1: in another boat. This is a nineteen thirty sixty foot

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Speaker 1: consolidated motor yacht the pub you loading pub. I was

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Speaker 1: gonna say, you like it because it's got twin John

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Speaker 1: Dear Diesel engines. Tell us about this particular craft. Oh yeah,

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Speaker 1: this was popular design in the late twenties and early

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Speaker 1: thirties called the commuter Um that guys out on Long

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Speaker 1: Island would would take down to Manhattan. Uh, you know,

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Speaker 1: as a commute daily commuter um. And this particular boat

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Speaker 1: is nineteen thirty and uh it was originally built for

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Speaker 1: for them in Connecticut. It stayed for a while in

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Speaker 1: New Jersey, and then over the past three years we've

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Speaker 1: restored it to its original respects. Uh, other than the

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Speaker 1: John DearS, which you're a power improvement. And the family

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Speaker 1: that owns it now uses it uh in un Island sound. Uh,

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Speaker 1: it's home port is Gonna Connecticut. But they're not commuting.

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Speaker 1: I was just gonna, I was just gonna ask if

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Speaker 1: anybody still commutes on boats of this class. I mean,

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Speaker 1: do people still use these as daily drivers? More as

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Speaker 1: a maybe a one day a week for fun, but

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Speaker 1: you know, not yeah, not every day, not as the

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Speaker 1: primary use of the boat. But so so, what do

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Speaker 1: you think a boat like this would go for Lulu Bell.

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Speaker 1: How much? How much would that one command? I'd say,

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Speaker 1: with the work they've done to it, about two million

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Speaker 1: dollars maybe more. You got anything for less? I mean anything.

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Speaker 1: I noticed that you've got triple cockpitt Garwood run about

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Speaker 1: that will set you back a mirror one. Yes, that one,

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Speaker 1: that one actually just stold yesterday, Matt, were too late,

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Speaker 1: I'm always too late, story of my life. What sorry?

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Speaker 1: Go ahead? I was gonna say, what do you have

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Speaker 1: a favorite boat? Um? I partial to the to the

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Speaker 1: baby Guards. But the model we're most excited about right

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Speaker 1: now as a company is is thet rear engine Streamliner. Uh.

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Speaker 1: It puts the engine all the way to the stern

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Speaker 1: and it allows for complete movement around the cockpits. Um

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Speaker 1: Garwood Pioneer, this in and the price tag just quickly

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Speaker 1: shoe about that. Joe Turcutt, manager of Garwood Custom Boats,

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Speaker 1: based in Brent Lake, New York. This is Bloomberg. All right.

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Speaker 1: We're just about twenty minutes until the closing bell of

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Speaker 1: the New York Stock Exchange to end this week with

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Speaker 1: the SMP five hundred getting close to an all time high.

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Speaker 1: This is Bloomberg