WEBVTT - Broadcasting Live from UBS Arena at Belmont Park 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Charle Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.640 plus technology, politics, economics, all purtnising the power of Business 0:00:13.680 --> 0:00:17.160 Week reporters and editors, not to mention our journalists and 0:00:17.160 --> 0:00:20.000 analyst in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.479 Bloomberg Business Weekend iTunes, SoundCloud, or Bloomberg dot Com. You 0:00:23.480 --> 0:00:25.439 can also listen to our radio show at two pm 0:00:25.480 --> 0:00:27.880 Eastern Time on the Bloomberg Radio or watch us on 0:00:27.920 --> 0:00:32.360 YouTube search Bloomberg Clovel News. We are live at the 0:00:32.440 --> 0:00:34.760 UBS Arena in Elmont, New York, and we've got two 0:00:34.760 --> 0:00:36.120 great guests with us right now. I want to bring 0:00:36.120 --> 0:00:38.520 a majority owner of the New York Islanders. We're talking 0:00:38.560 --> 0:00:41.280 about John Laedecki, also with us as a CEO and 0:00:41.320 --> 0:00:46.080 co founder of Oakview Group. Tim lie Wacky. That's good, correct. 0:00:46.720 --> 0:00:48.360 I told you it took me twelve years to do 0:00:48.400 --> 0:00:50.640 it myself. I'm working on it. I'm working on it. 0:00:51.159 --> 0:00:54.920 Um you guys, you know together created this incredible arena. 0:00:54.960 --> 0:00:56.520 First of all, I want to ask you John let 0:00:56.560 --> 0:00:58.520 me kick it off with you. It's been a while 0:00:58.560 --> 0:01:01.120 since you've had a home place to play. Well, the 0:01:01.160 --> 0:01:03.840 fans have been on quite a journey, and as Tim 0:01:03.880 --> 0:01:06.600 has said, and my partner, Scott Malcolm, the co owner 0:01:06.640 --> 0:01:08.840 of the New York Ounders, has said, the fans deserve 0:01:08.920 --> 0:01:11.240 a new home. The milk carton sell by date on 0:01:11.240 --> 0:01:15.680 the Nasau Coliseum was probably so it's been a long journey. 0:01:16.200 --> 0:01:21.479 Your picture wasn't on the side of that little but 0:01:22.880 --> 0:01:26.080 it really is quite quite a momentous occasion for our fans. 0:01:26.120 --> 0:01:27.920 They're the best fans in the National Hockey League and 0:01:27.920 --> 0:01:30.000 they deserve a new venue, and they're getting state of 0:01:30.040 --> 0:01:32.080 the art, beyond state of the art because of Tim 0:01:32.080 --> 0:01:35.200 and Oakview Group in Sterling Project Development led by Jeff Wilpon. 0:01:35.560 --> 0:01:38.880 What they've done here is magnificent. Thank you, Tim Outhouse 0:01:38.959 --> 0:01:42.480 to the penthouse. John to that point, Tim, what what 0:01:42.600 --> 0:01:46.039 is special about this arena? So one, it's New York 0:01:46.319 --> 0:01:49.320 and so when we started our company, we were fortunate 0:01:49.440 --> 0:01:52.040 enough to partner with John and Scott on building this. 0:01:52.560 --> 0:01:55.040 But for us to be a world class company, you 0:01:55.080 --> 0:01:56.520 have to be in New York. New York is a 0:01:56.600 --> 0:01:59.279 very competitive marketplace. It has the world's most famous arena, 0:01:59.320 --> 0:02:02.200 Madison Square Garden. So you gotta go compete, and you 0:02:02.400 --> 0:02:04.800 you're competing in the biggest city in the world. You're 0:02:04.840 --> 0:02:08.440 competing in a city that ultimately has these wonderful venues 0:02:08.520 --> 0:02:11.080 that are already doing quite well. So we had to 0:02:11.080 --> 0:02:13.080 go carve out our niche. We had to go find 0:02:13.120 --> 0:02:16.359 an identity and a culture for ubs arena that made 0:02:16.440 --> 0:02:19.680 us unique. And we very very fortunate that right off 0:02:19.720 --> 0:02:22.000 the bat we get Harry Styles and we break all 0:02:22.040 --> 0:02:25.840 records with Ticketmaster for pre registration. So clearly it's gonna 0:02:25.840 --> 0:02:28.440 work for the islander fans. They've they've had thirty years 0:02:28.440 --> 0:02:31.320 worth of the desert before they finally found this, and 0:02:31.360 --> 0:02:33.919 now we're gonna work for music, and we're going to 0:02:34.000 --> 0:02:37.480 be in great shape with music because I think what 0:02:37.600 --> 0:02:41.160 people forget. Seven million people live closer to this arena 0:02:41.240 --> 0:02:43.960 than any other arena in the metro area. It's a 0:02:44.000 --> 0:02:46.600 big it's a big island, and we have sand but 0:02:46.600 --> 0:02:48.560 it's in the peach by the way, you know what 0:02:48.600 --> 0:02:50.880 that is? What is that? So as you know, I 0:02:50.880 --> 0:02:53.280 built the Climate Pledge Arena in Seattle, and that's the 0:02:53.320 --> 0:02:55.280 home of the cracket. So I brought him out here 0:02:55.280 --> 0:02:58.919 with me for open weekend and he's hungry. We don't 0:02:59.280 --> 0:03:03.400 anywhere back there. You don't want to see him run. 0:03:05.480 --> 0:03:07.240 When you guys are putting this together, what were the 0:03:07.280 --> 0:03:09.880 conversations John, What did you guys? What did you want 0:03:10.000 --> 0:03:12.160 to have as a home place for your team? On budget, 0:03:12.360 --> 0:03:17.840 on time was the most important thing for Sling And 0:03:17.840 --> 0:03:19.880 Tim is really a visionary right. Tim has built more 0:03:19.919 --> 0:03:23.040 arenas and ran more arenas than any human being alive today. 0:03:23.320 --> 0:03:27.000 Not a question longevity, He's just built great businesses. Oakview 0:03:27.040 --> 0:03:30.320 Group was started the next week. We met Tim in 0:03:30.360 --> 0:03:32.359 the hotel room in Montreal and he gave us the 0:03:32.440 --> 0:03:34.520 vision of what an arena should look like. And now 0:03:34.560 --> 0:03:37.240 I think he's got twenty five or eight in development. 0:03:37.320 --> 0:03:40.440 But his vision, combined with Scott's real estate background, created 0:03:40.480 --> 0:03:42.920 this fantastic place. What we do think about like the 0:03:42.960 --> 0:03:46.120 pandemic and stuff like did that impact You're thinking about 0:03:46.120 --> 0:03:47.920 how because there's a lot of touch lists right ease 0:03:48.000 --> 0:03:49.800 and people just going in and doing their things. So 0:03:50.440 --> 0:03:53.520 two things, One could you imagine spending a billion privately 0:03:53.560 --> 0:03:55.200 on and endeavor like this? And then all of the 0:03:55.200 --> 0:03:58.400 studd is privately funded. It is privately funded. That taxpayers 0:03:58.400 --> 0:04:00.720 money I want to be used for education and safety 0:04:00.960 --> 0:04:04.200 and transportation. So we we did. We did this the 0:04:04.320 --> 0:04:07.640 right way. But in the middle of that commitment, suddenly, 0:04:08.120 --> 0:04:10.240 you know, I used to tell people, they don't teach 0:04:10.280 --> 0:04:11.960 this in school, so you got to go and figure 0:04:12.000 --> 0:04:14.800 this out on the fly. I think there were We 0:04:15.000 --> 0:04:17.719 made changes to the design of the building because of 0:04:17.720 --> 0:04:19.800 the COVID. So you'll see in the building we have 0:04:19.880 --> 0:04:23.719 a three dred and sixty degree air circulation system. We 0:04:23.800 --> 0:04:27.920 have MERV thirteen filterization system. That's what you see in hospitals. 0:04:28.160 --> 0:04:31.520 We trapped the bad guys, so we have more airflow 0:04:31.600 --> 0:04:34.960 coming in and out of this building. I'm not cussing here. 0:04:35.000 --> 0:04:37.400 It's really the name of the company. We have four 0:04:37.440 --> 0:04:42.760 fans called Big Gas Fans in the roof. Everyone always 0:04:42.800 --> 0:04:45.880 looks there's no way that company is called Big Gas Fans, 0:04:45.920 --> 0:04:48.440 I said, I swear to God. A trademark had to 0:04:48.440 --> 0:04:52.600 be an interesting process where the government. You know, it's 0:04:52.640 --> 0:04:54.840 so great for us is that that's now in as 0:04:54.839 --> 0:04:57.680 original equipment. Every other arena in the country to deal 0:04:57.720 --> 0:05:00.480 with COVID and COVID related situations has to rest profits. 0:05:00.560 --> 0:05:03.200 So again, thanks to Tim's vision, we spent the extra 0:05:03.240 --> 0:05:05.200 money up front to make sure we had the best 0:05:05.720 --> 0:05:08.239 air filtration systems in the world. Tim, what's your favorite 0:05:08.240 --> 0:05:11.760 part of the arena? Uh, these acoustical panels. You you 0:05:12.040 --> 0:05:14.120 so see the wood right there, go look at it 0:05:14.160 --> 0:05:16.240 real tight, and when you get up close you'll see 0:05:16.279 --> 0:05:18.640 they have holes in it. So we trapped the base 0:05:18.680 --> 0:05:20.880 and the rever from bands and so it makes the 0:05:20.920 --> 0:05:24.400 building acoustically perfect. So when you come here for a concert, 0:05:24.520 --> 0:05:27.880 it's gonna be spectacular, because that's an issue with some places, 0:05:27.920 --> 0:05:31.040 some large venues where you go see a concert. Yeah, yeah, 0:05:31.120 --> 0:05:33.120 they fit a lot of people, but it doesn't sound 0:05:33.160 --> 0:05:35.240 good now. And so when you think about the amount 0:05:35.240 --> 0:05:37.400 of money people are spending on that night out, it's 0:05:37.480 --> 0:05:40.080 unfortunate if they sit there and hear the concert twice. 0:05:40.480 --> 0:05:43.880 So what you want is you want a perfect bowl. 0:05:43.960 --> 0:05:46.880 So my partner in our company's earning as off. He's 0:05:46.920 --> 0:05:49.920 the largest manager in the music business. So when when 0:05:49.920 --> 0:05:54.640 you have Don Henley as your engineering critique on your acoustics, 0:05:54.680 --> 0:05:57.479 you better make sure your acoustics are perfect because Don's 0:05:57.520 --> 0:05:59.760 pretty demanding. So, Jim, that's what you really did that 0:05:59.839 --> 0:06:01.919 no other arena had ever done before. He went to 0:06:02.000 --> 0:06:04.320 all the rock acts, he went to all the rock managers, 0:06:04.480 --> 0:06:06.240 He went to the musicians and said, what do you 0:06:06.279 --> 0:06:08.400 want the building, and they all said, geez, no one's 0:06:08.400 --> 0:06:10.400 ever asked us when they asked for free rent first. 0:06:12.960 --> 0:06:15.240 But the bottom line is you've got input that very 0:06:15.279 --> 0:06:17.480 few people have gotten from arenas, and that's why the 0:06:17.520 --> 0:06:20.720 acoustics are so great here. So interestingly enough, this building 0:06:20.760 --> 0:06:23.559 as a loading dock that's the largest on the East Coast. 0:06:23.560 --> 0:06:26.480 We could do sixteen semitrucks at the same time, So 0:06:26.520 --> 0:06:28.479 if you think about it, at the Garden, you gotta 0:06:28.520 --> 0:06:30.440 pull up a ramp and it's one truck at a time. 0:06:30.480 --> 0:06:33.359 At Barkley's, you go into an elevator and the turntable 0:06:33.360 --> 0:06:36.040 turns the truck around. Here we do sixteen trucks at 0:06:36.040 --> 0:06:39.359 one time, eight that could be unloading. So between the acoustics, 0:06:39.400 --> 0:06:42.760 the largest lower bowl, we have a locker room facility 0:06:42.800 --> 0:06:45.279 that is only for music artists. So that's the first 0:06:45.320 --> 0:06:47.520 one of those that's ever been built on the East Coast. 0:06:47.760 --> 0:06:49.880 So when an artist comes in here, they get in 0:06:50.120 --> 0:06:53.080 and produce quicker, cheaper. They got their own compound. The 0:06:53.080 --> 0:06:56.960 compound is beautiful and the acoustics hopefully will be great. Hey, Tim, John, 0:06:56.960 --> 0:06:58.720 we're gonna come back in just a moment. Hold that thought. 0:06:58.880 --> 0:07:00.480 I know you got one. They're done. You listen to 0:07:00.480 --> 0:07:03.040 Bloomberg Business Week, Carol Massr, Tim Stenevik. We're coming back 0:07:03.040 --> 0:07:06.720 in just a moment. This is Bloomberg Business Week with 0:07:06.800 --> 0:07:11.520 Carol Masser and Bloomberg Quick Takes. Tim Stinovic from Bloomberg Radio. 0:07:11.720 --> 0:07:13.880 Let's get back to you. Uh, we've got John Ladeckie 0:07:13.920 --> 0:07:16.600 of course with us and Tim lie wacky. I keep 0:07:16.640 --> 0:07:20.040 shooting that. I just realized your partner's name is more 0:07:20.200 --> 0:07:23.840 difficult than mine. I'm glad to meet another Tim. You know, 0:07:23.920 --> 0:07:25.920 it's not just two Tims here. There's a third Tim 0:07:25.960 --> 0:07:32.920 over there. Last name. Come on, man, come to the 0:07:33.000 --> 0:07:37.200 dark side, John Lindecki. I think that it would be 0:07:37.240 --> 0:07:43.600 a great law firm. Lindeck And so for me, it's Friday, 0:07:44.000 --> 0:07:46.640 and it's so Friday. So John, what can we expect 0:07:46.640 --> 0:07:48.400 for the team this year? You guys are doing well 0:07:48.560 --> 0:07:51.720 the fancy mappy Oh well, we had a great run 0:07:51.840 --> 0:07:54.360 last year. We had a run to the final four. 0:07:54.480 --> 0:07:57.400 Two years in a row and um. Every year presents 0:07:57.440 --> 0:08:00.520 new challenges. Thirteen games to open the season on the road. 0:08:00.960 --> 0:08:03.200 The objective was trying to be around five hundred. The 0:08:03.240 --> 0:08:05.040 team came through with that and now we get the 0:08:05.040 --> 0:08:07.640 home cooking going. So four games in a row at 0:08:07.680 --> 0:08:11.640 home against great competition and the place will be rocking tomorrow. 0:08:11.640 --> 0:08:13.720 You know, you guys are business guys. Amazing to see 0:08:13.720 --> 0:08:16.920 tickets for an Islanders game going for twelve hundred, fift 0:08:17.120 --> 0:08:20.280 hundred dollars opening night, and I think that's we're so 0:08:20.280 --> 0:08:24.320 sold out. The fans who this building really represents, they 0:08:24.360 --> 0:08:26.920 sold the building out. They came and took all those 0:08:26.920 --> 0:08:29.840 tickets for the entire season, So we're sold out. John, 0:08:29.840 --> 0:08:31.640 talk a little bit about the fan experience here and 0:08:31.680 --> 0:08:33.560 really how you guys thought about that when it came 0:08:33.600 --> 0:08:36.360 to designing the home for the Islanders. Yeah, it really 0:08:36.440 --> 0:08:38.520 is all about the fans. Is all about inclusion. It's 0:08:38.520 --> 0:08:40.320 about being able to go to the Heineken bar and 0:08:40.320 --> 0:08:42.439 you don't need a haul pass to do it. Um. 0:08:42.520 --> 0:08:43.840 You want to play with a crack and you can 0:08:43.840 --> 0:08:50.040 play with a cracking and hearing that gentlemen, Um, And 0:08:50.040 --> 0:08:52.160 and at the same time, for those who want to 0:08:52.520 --> 0:08:56.200 do business, celebrate a special occasion. We have everything from 0:08:56.360 --> 0:08:58.840 special clubs to a speakeasy that will be opening later, 0:08:58.920 --> 0:09:00.880 which is so you you feel like when you're here, 0:09:00.920 --> 0:09:03.440 it's an experience. It's about gatherings. You can see how 0:09:03.480 --> 0:09:07.720 people could just gather in different tables Disneyland for adults. Yeah, 0:09:07.920 --> 0:09:09.760 that's what it is. It really does feel that way, 0:09:10.080 --> 0:09:12.800 very different from other arenas totally. So we have two 0:09:12.840 --> 0:09:15.000 patios here. So one of them is the Heineken Bar, 0:09:15.120 --> 0:09:17.800 so it looks out at the racetrack and the paddocks 0:09:17.800 --> 0:09:21.000 across the way at at Belmont Park, And if you 0:09:21.040 --> 0:09:23.199 think about it, the others can't do it because they 0:09:23.200 --> 0:09:26.600 were designed around railroad stations and train tracks. That's the 0:09:26.600 --> 0:09:29.200 brilliant heres. We had four forty acres to build a 0:09:29.200 --> 0:09:31.880 campus out and we weren't restricted and didn't have to 0:09:31.920 --> 0:09:35.040 compromise on the fan experience because we got to design 0:09:35.080 --> 0:09:38.880 the building perfectly because we weren't trying to squeeze everything in. 0:09:39.080 --> 0:09:42.000 How did you know what the fans wanted at this point? 0:09:42.280 --> 0:09:45.280 And talked to four fans a night at every home. 0:09:45.360 --> 0:09:47.880 Will you play with them? I don't, I don't, I 0:09:47.880 --> 0:09:50.439 don't sit in the owner's boxes. I have nothing against 0:09:50.480 --> 0:09:52.280 owners in the owner's box, but if you're building a 0:09:52.320 --> 0:09:54.760 new building, you have got to hear what the fan 0:09:54.840 --> 0:09:58.200 who's having the experience wants. And Islander fans are have 0:09:58.240 --> 0:10:00.720 a great reputation for speaking their mind. How long Island 0:10:00.800 --> 0:10:03.679 is right, everybody's got an opinion. So I got hundreds 0:10:03.679 --> 0:10:06.360 of opinions each night, wrote them down, and then we 0:10:06.360 --> 0:10:09.040 went to all thirty NHL arenas, trying to borrow the 0:10:09.080 --> 0:10:11.240 best of breed. And then we have the maestro here, 0:10:11.320 --> 0:10:13.920 Tim Lawick. You put it all together in a mixer 0:10:14.120 --> 0:10:16.679 and outcomes this great arena. So give me an example 0:10:16.720 --> 0:10:18.319 of of something that you learned from one of those 0:10:18.360 --> 0:10:21.160 conversations that we see here. You know what, twenty five 0:10:21.160 --> 0:10:24.360 minutes at the Nasau Coliseum to use the bathroom unacceptable. 0:10:24.440 --> 0:10:26.800 More bathrooms than any arena in North America, I think 0:10:26.840 --> 0:10:29.040 any building maybe in North America. I noticed as I 0:10:29.080 --> 0:10:31.559 walked around there's like bathrooms everywhere well, and more women's 0:10:31.559 --> 0:10:34.960 bathrooms than any arena, and they're beautiful. But the bathrooms, 0:10:35.000 --> 0:10:37.040 by the way, the women's bathrooms here are the most 0:10:37.080 --> 0:10:40.920 beautiful bathrooms in the arena businesses. Now, let's see what 0:10:40.960 --> 0:10:43.400 happens after Metallica and see if we can still preserve them, 0:10:43.440 --> 0:10:46.840 but we're hopeful. Um and then and then of course 0:10:47.559 --> 0:10:50.920 minutes five minutes for a cold, disgusting hot dog. And 0:10:51.000 --> 0:10:53.320 now we have everything from grabb and go, which is 0:10:53.320 --> 0:10:54.960 great because the fans want to get their food and 0:10:55.000 --> 0:10:58.600 go back to more Hote cuisine. But the most important 0:10:58.640 --> 0:11:02.240 thing is every bar can see the ice or the 0:11:02.320 --> 0:11:04.960 concert right. So important because how many times have I 0:11:05.000 --> 0:11:06.440 missed a goal trying to get a beer for a 0:11:06.440 --> 0:11:08.920 buddy when I was a fan. It's so irritating. So 0:11:09.000 --> 0:11:11.040 now you can actually turn around see the play. You 0:11:11.120 --> 0:11:13.600 also have it on TV screens everywhere, more TV screens, 0:11:13.600 --> 0:11:15.120 I think than in the arena as well. Maybe we 0:11:15.160 --> 0:11:17.400 can also find someone to get you a beer at 0:11:17.440 --> 0:11:19.199 one in these games you might not have. You get 0:11:19.200 --> 0:11:22.360 your own beers these days. Well hopefully hopefully the fans 0:11:22.360 --> 0:11:24.880 are happy. But I'll tell you, I'll tell you what 0:11:24.920 --> 0:11:27.560 Tim says, which is John, it doesn't matter. You could 0:11:27.559 --> 0:11:30.720 have the taj Mahal. Someone is going to find something 0:11:30.840 --> 0:11:33.400 and we just have to get through the first few weeks. Now, 0:11:33.440 --> 0:11:35.080 did I hear that you guys are gonna be carbon neutral. 0:11:36.360 --> 0:11:40.040 We are, so I feel very very strongly were carbon 0:11:40.080 --> 0:11:42.600 neutral at Climate Pledge Arena, and a lot of the 0:11:42.600 --> 0:11:45.680 credit goes to Jeff Bezos and Amazon. He really helped 0:11:45.760 --> 0:11:48.560 us figure that out. We are actually now in the 0:11:48.640 --> 0:11:51.000 in the middle of creating a new company called Goal, 0:11:51.080 --> 0:11:53.560 and Goal is going to go help every building figure 0:11:53.600 --> 0:11:55.839 out how they could be more sustainable, and then we're 0:11:55.840 --> 0:11:57.880 going to come along and every year great them and 0:11:57.920 --> 0:12:01.840 give them a certification process. We this industry. We're not 0:12:01.840 --> 0:12:04.040 going to go solve the problem of global warming, but 0:12:04.120 --> 0:12:07.040 we could inspire, and that's what music and sports have 0:12:07.080 --> 0:12:10.559 always done. There is no more important issue than that one. 0:12:10.559 --> 0:12:12.360 And if we on the East Coast could figure out 0:12:12.400 --> 0:12:14.120 a way to build an arena in New York and 0:12:14.160 --> 0:12:16.880 go carbon neutral, that's going to have a huge impact 0:12:16.920 --> 0:12:19.400 on fixing this. That's crucial because I think West Coast 0:12:19.480 --> 0:12:23.120 is easy. People are kind of people don't understand that 0:12:23.240 --> 0:12:26.080 it's almost impossible to be carbon neutral on the East Coast. 0:12:26.080 --> 0:12:27.160 Why is it? Why is it going to take two 0:12:27.200 --> 0:12:28.680 years from now to do that though? Why couldn't you 0:12:28.679 --> 0:12:30.920 do do that from the ground. So actually I was 0:12:30.960 --> 0:12:33.720 just talking to the governor about this, so one, we 0:12:33.800 --> 0:12:36.120 have to know where our energy comes from. So the 0:12:36.160 --> 0:12:38.680 electricity we bring into the building has to be metered 0:12:38.920 --> 0:12:42.400 so that it's renewable energy, solar, our wind in particular, 0:12:42.679 --> 0:12:45.400 and unless the power company could ultimately tell us where 0:12:45.440 --> 0:12:48.520 that's coming from, then we may be getting bad electricity 0:12:48.559 --> 0:12:51.680 coal for example. So what what we're working now with 0:12:51.760 --> 0:12:54.200 the state on is how we ultimately can qualify and 0:12:54.280 --> 0:12:57.520 quantify sustainable energy and power that we bring in here. 0:12:58.040 --> 0:13:00.160 You gotta get rid of your gas, so we we 0:13:00.240 --> 0:13:02.120 have gas in this building. We have no gas in 0:13:02.160 --> 0:13:04.319 the building. A climate pledge arena. We gotta figure out 0:13:04.320 --> 0:13:06.200 a way to go use that. You got to recycle 0:13:06.240 --> 0:13:07.880 your food every night and get it back to the 0:13:07.880 --> 0:13:11.120 food banks, so that you you got to go buy 0:13:11.679 --> 0:13:14.040 of of everything you're going to see in this arena 0:13:14.080 --> 0:13:17.480 that we serve is made in the region, because then 0:13:17.520 --> 0:13:21.400 we limit transportation and then eventually for the people that, yeah, 0:13:21.559 --> 0:13:23.960 the people that are driving here, we're gonna have to 0:13:23.960 --> 0:13:27.400 get carbon credits ultimately to deal with the emissions of 0:13:27.440 --> 0:13:30.040 all of the cars the park here. We'll have more 0:13:30.040 --> 0:13:35.520 power charging stations here. Yeah, it's it's actually quite remarkable 0:13:35.559 --> 0:13:37.920 that we're going to have you could take the fleets 0:13:38.000 --> 0:13:41.320 of electric vehicles at Lagardy and JFK overnight. They'll come 0:13:41.360 --> 0:13:44.120 here and they'll charge up overnight, working with a company 0:13:44.160 --> 0:13:51.080 called Xcel Fleet Simbol XL Littenberg Radio. I always wanted 0:13:51.120 --> 0:13:57.199 to do that. Anchor on vacation. I'll come in and 0:13:57.280 --> 0:14:01.080 vice versa. Right, work for whatever the minimum. I'm out 0:14:01.200 --> 0:14:03.640 next week. So okay, we have an empty chair. Okay, 0:14:03.679 --> 0:14:05.959 I'm ready to go. Absolutely, Timmy, you did a deal 0:14:05.960 --> 0:14:08.080 with Spectrum. We just want to squeeze that in. Yeah, 0:14:08.120 --> 0:14:10.200 we just closed the deal this morning with Spectro. So 0:14:10.280 --> 0:14:12.560 now we're in the food and beverage business and we 0:14:12.679 --> 0:14:15.600 have over three hundred facilities to join the OVG family. 0:14:15.960 --> 0:14:18.439 So we're really proud of that partnership. We're really excited 0:14:18.480 --> 0:14:21.360 to grow. And now we're the second largest facility management 0:14:21.360 --> 0:14:24.560 company in the world. And he started out one guy 0:14:25.000 --> 0:14:27.520 and now his company is worth literally billions and billions 0:14:27.520 --> 0:14:30.000 of dollars. It's unbelievable what he's accomplished in the last 0:14:30.040 --> 0:14:31.880 six years. What's the next thing you two do together 0:14:32.720 --> 0:14:36.920 when go have a beer? Go Ahindun, let's go right there. 0:14:36.960 --> 0:14:41.080 I've been staring at the whole interview check our subs. Hap. Yeah, 0:14:41.120 --> 0:14:44.960 that's exactly right. Okay, that was too shameless plugs. That's okay. 0:14:44.960 --> 0:14:46.560 You can do as many shameless plugs and you can 0:14:46.600 --> 0:14:49.160 come back anytime. I wish you could thank you. Happy 0:14:49.160 --> 0:14:59.840 holidays arena. We're really proud of Okas's good luck with this, 0:15:00.560 --> 0:15:03.000 good luck with the arena. We really appreciate it. Tim 0:15:03.080 --> 0:15:05.200 l Wicky and of course John Ladecki here at the 0:15:05.280 --> 0:15:08.600 UBS Arena in Elmont, New York. Folks. Coming up next, 0:15:08.640 --> 0:15:10.560 we're gonna continue to track the markets for you on 0:15:10.760 --> 0:15:13.440 this Friday, do a little bit of talk about inflation 0:15:13.520 --> 0:15:15.640 and the Fed. You ready for that Harry Style show. 0:15:15.720 --> 0:15:19.720 I'm actually yeah, I am so ready for my two 0:15:19.720 --> 0:15:23.360 old friars. Now for Harry Styles. All Right, you're listening 0:15:23.400 --> 0:15:32.560 to Bloomberg Business Week, and this is Bloomberg Radio. You're 0:15:32.600 --> 0:15:36.479 listening to Bloomberg Business Week with Carol Messer and Bloomberg 0:15:36.560 --> 0:15:42.040 Quick Takes. Tim Stinovin on Bloomberg Radio. Yes, indeed, everybody, 0:15:42.080 --> 0:15:44.840 we are live at UBS Arena in Elmont, New York. 0:15:44.880 --> 0:15:47.360 We're talking sports, we're watching the markets, and here on 0:15:47.400 --> 0:15:50.240 site with us is Tom Narratell. He's Ubs co president 0:15:50.280 --> 0:15:54.040 of Global Wealth Management. It's been quite a day. Are 0:15:54.080 --> 0:15:57.480 you really super exciting day? It is excited from all 0:15:57.480 --> 0:15:59.720 the activity. You're running around a lot. They got you 0:16:00.040 --> 0:16:02.880 got you like working a double today. I think that's right, 0:16:02.920 --> 0:16:05.720 but it's but you've you've got to have fun doing 0:16:05.720 --> 0:16:07.680 this though. This is great. It's hard not to walking 0:16:07.680 --> 0:16:09.920 around here. Um, what does it mean for ubs? You 0:16:09.960 --> 0:16:12.680 guys have naming rights for the next twenty years a 0:16:12.760 --> 0:16:19.320 really incredible you know, top notch facility, entertainment, sports, so 0:16:19.400 --> 0:16:20.600 much is going to be going on. What does it 0:16:20.600 --> 0:16:22.680 mean for the for the firm? So's it's really big 0:16:22.720 --> 0:16:25.720 for us because first, I mean, New York's the financial, 0:16:25.800 --> 0:16:28.520 sports and entertainment capital of the world. We've got ten 0:16:28.520 --> 0:16:30.960 thousand employees in the New York metropolitan area. We have 0:16:31.000 --> 0:16:33.840 over five thousand clients. So if you're going to do 0:16:33.880 --> 0:16:35.760 a deal like this, there's no place you're gonna do 0:16:35.800 --> 0:16:38.240 other than New York. It's just hard to find them. 0:16:38.320 --> 0:16:40.800 So this was really just a unique opportunity to work 0:16:40.840 --> 0:16:44.000 with the Islanders and oak View Group, and we couldn't 0:16:44.040 --> 0:16:46.360 be any happier about how it's turned out. What's the 0:16:46.400 --> 0:16:49.200 analysis that goes into making it worth it. I mean, 0:16:49.200 --> 0:16:54.200 this is a significant investment, and I gotta ask, what's 0:16:54.200 --> 0:16:56.720 the calculation that you do so you know that you're 0:16:56.720 --> 0:16:58.960 actually making an impact and making people people think about 0:16:59.000 --> 0:17:01.280 UBS in a certain way. So, I mean, there's a 0:17:01.320 --> 0:17:03.880 lot of marketing research that goes into it, taking a 0:17:03.920 --> 0:17:07.359 look at your your brand familiarity and how's that ringing 0:17:07.359 --> 0:17:09.800 with your key segments. But the key on this one 0:17:09.800 --> 0:17:11.800 really is, you know, how do you feel you're you're 0:17:11.840 --> 0:17:14.880 going to get the extensions of your brand in that 0:17:15.040 --> 0:17:17.560 And that depends a lot on your partners. And I 0:17:17.560 --> 0:17:19.720 can tell you what I see and the way our 0:17:19.720 --> 0:17:23.040 partners have spoken about it from the very beginning when 0:17:23.080 --> 0:17:26.760 they talk about UBS Arena, they're always adding in something 0:17:26.760 --> 0:17:29.639 about our value proposition to our clients. And so having 0:17:29.640 --> 0:17:31.359 the right kind of partners that know one to talk 0:17:31.400 --> 0:17:33.800 about your brand extension, that's a critical part of it. 0:17:34.280 --> 0:17:37.199 The financial calculations on it are you know, you can 0:17:37.240 --> 0:17:39.960 do the classic what's the value of an impression? You know, 0:17:40.000 --> 0:17:42.159 what's the value of that logo? Every single time the 0:17:42.280 --> 0:17:45.840 camera hits it when ESPN is showing the clips? Uh, 0:17:45.880 --> 0:17:48.159 And from that standpoint, you know you can get to 0:17:48.400 --> 0:17:50.640 a place where you can get you can feel comfortable 0:17:50.640 --> 0:17:53.000 about it. But at the end of the day, Um, 0:17:53.040 --> 0:17:55.639 for us, another big part of it was social media, 0:17:56.080 --> 0:17:58.879 which we think, you know, as we talked to uh, 0:17:58.920 --> 0:18:01.199 the Islanders, talked to ov G, it was a lot 0:18:01.200 --> 0:18:05.080 of how do you plan on using social media because 0:18:05.119 --> 0:18:08.040 that increasingly is something that's that's the way things are 0:18:08.080 --> 0:18:11.159 gonna get reflected. Uh. And we've been happy even just 0:18:11.280 --> 0:18:13.679 in the just in the short period of time that 0:18:13.720 --> 0:18:15.800 we've been working on the arena and we've gotten a 0:18:15.880 --> 0:18:18.520 huge amount of awareness just from the social media accounts. 0:18:18.680 --> 0:18:20.480 Now we're going to hit you know, a team comes 0:18:20.520 --> 0:18:23.159 out on the ice, you know, maybe it's the l 0:18:23.160 --> 0:18:25.480 A King's and they're gonna play here, but everybody in 0:18:25.600 --> 0:18:27.399 l A Is going to know about ubs Arena, and 0:18:27.400 --> 0:18:29.840 that's hits another client base for us there as well. 0:18:30.160 --> 0:18:32.520 You really got that from Timlwicki and John Laucki, who 0:18:32.560 --> 0:18:34.520 we just talked to, who are just a fun duo 0:18:35.000 --> 0:18:37.480 to set down with. But you do feel like that 0:18:37.520 --> 0:18:40.440 they talked to musicians in terms of the entertainment aspect 0:18:40.440 --> 0:18:43.040 of it, to the Islanders like what they needed, and 0:18:43.119 --> 0:18:45.159 really talked to the fans about what they wanted in 0:18:45.240 --> 0:18:47.919 terms of an experience, and that whole idea of social media. 0:18:47.960 --> 0:18:50.280 I mean, this is what a younger fan, right, younger 0:18:50.320 --> 0:18:52.760 fan base is interested in, absolutely, and I think I 0:18:52.800 --> 0:18:55.199 think the other thing about thinking that them knowing the 0:18:55.240 --> 0:18:57.720 demographics of their fan base and John, I mean John 0:18:57.760 --> 0:19:00.359 is the fans owner for sure, right in terms of 0:19:00.359 --> 0:19:04.800 knowing about the absolutely and so if you look, the 0:19:04.880 --> 0:19:08.119 experience here is unlike any other arena. The number of 0:19:08.440 --> 0:19:12.000 you know, clubs like this where fans can just pop in, 0:19:12.160 --> 0:19:16.159 have a drink, meat, socialize in between the periods before 0:19:16.200 --> 0:19:18.560 the game after the game. I think it's just a 0:19:18.600 --> 0:19:21.639 really unique experience compared to other arenas. Hey, we have 0:19:21.760 --> 0:19:24.000 to talk a little bit about markets because you know 0:19:24.119 --> 0:19:26.240 something about that, right, Yeah, Well, I guess that's the 0:19:26.240 --> 0:19:28.880