1 00:00:04,120 --> 00:00:08,440 Speaker 1: Broadcasting live to New York, Bloomberg eleventh Rio to Washington, 2 00:00:08,520 --> 00:00:13,520 Speaker 1: d C, Bloomber to Boston, Bloomberg twelve hundred to San Francisco, 3 00:00:13,640 --> 00:00:18,079 Speaker 1: Bloomberg nine to the countries is Exam General one and 4 00:00:18,200 --> 00:00:21,440 Speaker 1: around the globe the Bloomberg Radio plus DApp and Bloomberg 5 00:00:21,520 --> 00:00:25,520 Speaker 1: got gone. This is taking stock. I'm Kathleen Hayes along 6 00:00:25,520 --> 00:00:28,640 Speaker 1: with Pim Fox. Is it time to sit in the 7 00:00:28,720 --> 00:00:34,280 Speaker 1: lap of luxury by chartering a beautiful yacht? Yes, it 8 00:00:34,440 --> 00:00:37,960 Speaker 1: may be easier than you think, Pim. Yes, indeed, we're 9 00:00:37,960 --> 00:00:40,640 Speaker 1: gonna be speaking with Karen Kelly Say, the President, chief 10 00:00:40,640 --> 00:00:44,479 Speaker 1: executive of Nicholson Yachts from Newport, Rhode Island, gonna give 11 00:00:44,479 --> 00:00:47,479 Speaker 1: you details about how to get on the high seas. 12 00:00:47,640 --> 00:00:49,839 Speaker 1: Right now, let's get some news from Charlie Pellett in 13 00:00:49,840 --> 00:00:52,320 Speaker 1: the Bloomberg news room. And I thank you, Pim, Thank you, Kathleen. 14 00:00:52,400 --> 00:00:54,960 Speaker 1: Not so smooth sailing for stocks today. The DAL the 15 00:00:55,120 --> 00:00:58,160 Speaker 1: SMP Nezzac Hall Trading Lord twenty nine minutes to go 16 00:00:58,200 --> 00:01:00,280 Speaker 1: ahead of the bell. And right now we've got the 17 00:01:00,400 --> 00:01:03,240 Speaker 1: SMP down seven to two thousand seventy and dropped there 18 00:01:03,280 --> 00:01:06,480 Speaker 1: of four tenths of one percent. Now stocks have paired 19 00:01:06,520 --> 00:01:10,040 Speaker 1: declines that the SMP five hundred index is heading for 20 00:01:10,200 --> 00:01:14,800 Speaker 1: the biggest weekly slides since April. Commodity shares rallying, with oil, 21 00:01:14,880 --> 00:01:19,319 Speaker 1: healthcare and technology companies trimming losses. Speaking of oil now 22 00:01:19,440 --> 00:01:23,080 Speaker 1: up four point two percent. West Texas intermediate crude back 23 00:01:23,120 --> 00:01:26,240 Speaker 1: above forty eight dollars of barrel for sixteen on w 24 00:01:26,360 --> 00:01:28,640 Speaker 1: t I right now it is up by a dollar 25 00:01:28,840 --> 00:01:32,399 Speaker 1: ninety six. And the Bloomberg Television exclusive this morning, did 26 00:01:32,440 --> 00:01:35,560 Speaker 1: you catch it? We sat down with VP CEO Bob Dudley. 27 00:01:35,800 --> 00:01:38,680 Speaker 1: He talked about a number of topics, including the oil 28 00:01:38,720 --> 00:01:42,440 Speaker 1: price for shale drillers. Very big differences in the spectrum 29 00:01:42,440 --> 00:01:43,640 Speaker 1: of it. And I'm sure there's a lot on the 30 00:01:43,640 --> 00:01:46,280 Speaker 1: fringes of the heartlands of the shale it'll take very higher, 31 00:01:46,360 --> 00:01:48,920 Speaker 1: much higher oil prices. But in the really heartland, some 32 00:01:48,960 --> 00:01:50,920 Speaker 1: of the areas in the permanent stuff they can they 33 00:01:50,920 --> 00:01:54,040 Speaker 1: can produce and do it economically thirties and forties and fifties, 34 00:01:54,040 --> 00:01:56,560 Speaker 1: so it's not an exact on and off switch. And 35 00:01:56,640 --> 00:02:00,000 Speaker 1: Dudley was interviewed at the conference in St. Petersburg Rush 36 00:02:00,040 --> 00:02:03,640 Speaker 1: Show Warren Buffett's Berkshire Hathaway paid ninety ninety nine to 37 00:02:03,760 --> 00:02:08,000 Speaker 1: accumulated stake in Apple, according to a recent regulatory filing 38 00:02:08,000 --> 00:02:11,680 Speaker 1: that gives fresh details on that investment. Apple shares today 39 00:02:11,720 --> 00:02:14,840 Speaker 1: they're down two percent of ninety five dollars and fifty 40 00:02:15,080 --> 00:02:18,760 Speaker 1: nine cents. Viacom forecasting earnings for the quarter ending in 41 00:02:18,880 --> 00:02:22,280 Speaker 1: June of lag behind analysts estimates, but the shares trading 42 00:02:22,320 --> 00:02:25,720 Speaker 1: hard today by seven tenths of one percent. SMP five 43 00:02:25,800 --> 00:02:28,520 Speaker 1: hundred in next down six to two thousand and seventy one, 44 00:02:28,520 --> 00:02:31,799 Speaker 1: a drop of three tenths of one percent down, Industrials 45 00:02:31,840 --> 00:02:34,520 Speaker 1: down fifty two, a drop also of three tenths of 46 00:02:34,520 --> 00:02:38,200 Speaker 1: one percent, naz Stack down point nine percent, and gold 47 00:02:38,400 --> 00:02:41,280 Speaker 1: up thirty cents, a gain of less than point one percent. 48 00:02:41,639 --> 00:02:43,880 Speaker 1: And now let's look at the other stories making news. 49 00:02:45,120 --> 00:02:48,079 Speaker 1: Thank you, Charlie from the Bloomberg News Room. I'm Jill Schneider. 50 00:02:48,360 --> 00:02:51,000 Speaker 1: The debate over whether Britain should remain in the European 51 00:02:51,120 --> 00:02:54,359 Speaker 1: Union remains at a standstill today as the country mourns 52 00:02:54,360 --> 00:02:57,240 Speaker 1: the death of law maker Joe Cox. Parliament will be 53 00:02:57,280 --> 00:02:59,960 Speaker 1: recalled from a break Monday to pay tribute to Cox, 54 00:03:00,040 --> 00:03:03,560 Speaker 1: who was killed yesterday in northern England while meeting with constituents. 55 00:03:03,720 --> 00:03:06,680 Speaker 1: A suspect is in custody. A police officer who helped 56 00:03:06,680 --> 00:03:10,080 Speaker 1: pull victims to safety in an Orlando nightclub Sunday says 57 00:03:10,120 --> 00:03:13,640 Speaker 1: he is still haunted by the experience. Eatonville police officer 58 00:03:13,680 --> 00:03:17,600 Speaker 1: Omar Delgado says, it's been overwhelming. Still have trouble sleeping, 59 00:03:17,880 --> 00:03:21,040 Speaker 1: Still have troubles of my eyes because he just continues seeing. 60 00:03:23,120 --> 00:03:26,480 Speaker 1: Boston officials who coordinated the Victim's Fund after the Boston 61 00:03:26,560 --> 00:03:29,200 Speaker 1: Marathon bombings are reaching out to help or Land out 62 00:03:29,240 --> 00:03:32,919 Speaker 1: distribute its One Orlando Fund to survivors and families of 63 00:03:32,960 --> 00:03:35,960 Speaker 1: the victims. Here's Mayor Buddy Dyer. A lot of uh 64 00:03:36,600 --> 00:03:38,920 Speaker 1: great community partners have given a lot of money to 65 00:03:38,960 --> 00:03:42,240 Speaker 1: the fund. Last time I checked, that was over seven 66 00:03:42,240 --> 00:03:45,920 Speaker 1: million dollars. Several local restaurants and bars are also raising 67 00:03:45,920 --> 00:03:48,520 Speaker 1: funds to help the people most affected by the massacre. 68 00:03:49,360 --> 00:03:51,560 Speaker 1: The head of the U S Olympic Committee is applauding 69 00:03:51,600 --> 00:03:54,240 Speaker 1: the decision to ban the Russian track and field team 70 00:03:54,320 --> 00:03:57,440 Speaker 1: from this summer's Olympics in Rio. Scott Blackman says the 71 00:03:57,480 --> 00:04:01,560 Speaker 1: decision by the International Amateur athletic iteration sends a much 72 00:04:01,640 --> 00:04:05,160 Speaker 1: needed message that there are consequences for athletes who use 73 00:04:05,240 --> 00:04:08,880 Speaker 1: banned substances. Authorities say a Long Island man faces up 74 00:04:08,920 --> 00:04:12,160 Speaker 1: to thirty years in prison for cheating distressed homeowners out 75 00:04:12,160 --> 00:04:15,000 Speaker 1: of more than three million dollars. Officials say David got 76 00:04:15,080 --> 00:04:18,120 Speaker 1: her Up of Oceanside has pleaded guilty to conspiracy to 77 00:04:18,120 --> 00:04:21,159 Speaker 1: commit wire fraud. Global News twenty four hours a day, 78 00:04:21,240 --> 00:04:24,480 Speaker 1: powered by our hundred journalists in more than one hundred 79 00:04:24,520 --> 00:04:27,800 Speaker 1: fifty news bureaus around the world. From the Bloomberg Newsroom, 80 00:04:27,839 --> 00:04:32,000 Speaker 1: I'm Jill Schneider, Charlie, and we thank you and again 81 00:04:32,040 --> 00:04:36,159 Speaker 1: recapping here stocks lower SMP five index down six to 82 00:04:36,200 --> 00:04:39,240 Speaker 1: two thousand seventy one, a drop of three tenths of one. 83 00:04:40,080 --> 00:04:46,240 Speaker 1: I'm Charlie Platon. That's a Bloomberg business flash. We're taking 84 00:04:46,279 --> 00:04:51,599 Speaker 1: stock the look's life, gold jowls, uncleaned, properties of valuable nature. 85 00:04:51,680 --> 00:04:53,680 Speaker 1: Now you live in that right front house? Can I 86 00:04:53,839 --> 00:04:58,040 Speaker 1: be your financial adviser? It's good to be keen. I 87 00:04:58,120 --> 00:05:01,360 Speaker 1: thought you and I have right out. And remember how 88 00:05:01,440 --> 00:05:04,600 Speaker 1: much I wanted a big backyard with Grecian statue s 89 00:05:04,640 --> 00:05:07,400 Speaker 1: shaped hedges and three swimming pools. Well, I got that 90 00:05:07,640 --> 00:05:11,960 Speaker 1: to Bloomberg taking stock the lust life on Bloomberg Radio. 91 00:05:12,640 --> 00:05:17,159 Speaker 1: Recreational boating is a popular leisure activity in the United States. 92 00:05:17,160 --> 00:05:21,920 Speaker 1: More than eight million US adults have participated in recreational 93 00:05:22,080 --> 00:05:25,640 Speaker 1: boating last year. That means using a boat for sports 94 00:05:25,640 --> 00:05:28,880 Speaker 1: activities such as fishing and water skiing, or indeed even 95 00:05:28,920 --> 00:05:31,159 Speaker 1: to travel. But what I should like to use a 96 00:05:31,200 --> 00:05:34,839 Speaker 1: boat to take a vacation, to see something that you 97 00:05:34,920 --> 00:05:38,240 Speaker 1: couldn't see without access to the water. Well, one of 98 00:05:38,279 --> 00:05:40,479 Speaker 1: the things you might do is consider a yacht charter. 99 00:05:40,680 --> 00:05:43,280 Speaker 1: And Karen Kelly Shay is the president and the chief 100 00:05:43,320 --> 00:05:47,800 Speaker 1: executive of Nicholson Yachts. She joins us from Newport, Rhode Island, 101 00:05:48,080 --> 00:05:52,479 Speaker 1: and she can be followed on Twitter at Nicholson Yachts. Karen, 102 00:05:52,520 --> 00:05:54,720 Speaker 1: thank you very much for being with us. Thank you, 103 00:05:54,760 --> 00:05:57,080 Speaker 1: Pim and Kathleen was great to be with you. Just 104 00:05:57,200 --> 00:05:59,960 Speaker 1: begin by explaining to people that may not be famil 105 00:06:00,000 --> 00:06:03,919 Speaker 1: earlier with what does a charter entail? Give us some details. 106 00:06:05,200 --> 00:06:08,760 Speaker 1: The typical yacht charter that we organized has is fully 107 00:06:08,760 --> 00:06:11,120 Speaker 1: crewed with a captain and chef, and depending on the 108 00:06:11,160 --> 00:06:14,440 Speaker 1: size of the vessel, additional crew. Now, the captain will 109 00:06:14,480 --> 00:06:17,560 Speaker 1: set an itinery based on the desires of the guests 110 00:06:17,960 --> 00:06:20,200 Speaker 1: on board in the makeup of the charter party, and 111 00:06:20,480 --> 00:06:25,280 Speaker 1: the chef will prepare meals according to any request or 112 00:06:25,360 --> 00:06:30,080 Speaker 1: dietary restrictions or um vegan whatever you have. It can 113 00:06:30,120 --> 00:06:34,000 Speaker 1: be done on a yacht. And uh generally a yacht 114 00:06:34,040 --> 00:06:37,719 Speaker 1: owner who wants to defray some of the cost of yacht, 115 00:06:37,800 --> 00:06:39,800 Speaker 1: of owning the yacht will offer it for charter. And 116 00:06:40,120 --> 00:06:41,960 Speaker 1: that's what we do. We find clients to put on 117 00:06:42,000 --> 00:06:44,920 Speaker 1: board the yachts. You know, this also makes me think 118 00:06:45,120 --> 00:06:48,000 Speaker 1: that that old joke, right, the happiest day of a 119 00:06:48,080 --> 00:06:50,240 Speaker 1: boat owner's life, and I guess maybe it applies to 120 00:06:50,279 --> 00:06:52,120 Speaker 1: yacht owners is the day she buys it and the 121 00:06:52,160 --> 00:06:54,120 Speaker 1: day she sells it, right, Because it's a lot of work. 122 00:06:54,160 --> 00:06:55,839 Speaker 1: It is a lot of expense. Although you own a yacht, 123 00:06:55,839 --> 00:06:59,640 Speaker 1: you probably aren't maintaining it yourself. Give some sense of 124 00:06:59,680 --> 00:07:02,159 Speaker 1: the car. I call you up, I need a you know, 125 00:07:02,680 --> 00:07:05,440 Speaker 1: a yacht for six people for a weekend. What am I? 126 00:07:05,560 --> 00:07:09,039 Speaker 1: What am I? What's my price range? You know it's there. 127 00:07:09,040 --> 00:07:11,880 Speaker 1: They're surprisingly affordable and it depends on on the number 128 00:07:11,920 --> 00:07:13,600 Speaker 1: of people in your party, and also the size of 129 00:07:13,640 --> 00:07:16,000 Speaker 1: the ves on and the amount of luxury and looking 130 00:07:16,040 --> 00:07:18,560 Speaker 1: for a sailing yachts tend to be a little bit 131 00:07:18,600 --> 00:07:21,640 Speaker 1: less expensive than power boats. And for instance, if your 132 00:07:21,680 --> 00:07:23,480 Speaker 1: party of six and we put you on a seventy 133 00:07:23,520 --> 00:07:26,960 Speaker 1: two foot sailing yacht, um, the cost of that for 134 00:07:27,000 --> 00:07:30,080 Speaker 1: a charter here in New England is about twenty dollars 135 00:07:30,080 --> 00:07:33,200 Speaker 1: a week plus your expensive plus food. So you know, 136 00:07:33,240 --> 00:07:35,160 Speaker 1: if you if you divide it by six people and 137 00:07:35,200 --> 00:07:38,440 Speaker 1: look at the cost of a hotel and um restaurants 138 00:07:38,480 --> 00:07:40,960 Speaker 1: and and rental cars and that kind of thing, you know, 139 00:07:40,960 --> 00:07:43,920 Speaker 1: it's not far off. Now, that's kind of mid range there. 140 00:07:43,960 --> 00:07:46,000 Speaker 1: We do have some boats that are less expensive and 141 00:07:46,120 --> 00:07:50,560 Speaker 1: we can straight on up to you know, very expensive, 142 00:07:50,920 --> 00:07:53,480 Speaker 1: depending again on the level of luxury that the clients 143 00:07:53,480 --> 00:07:56,240 Speaker 1: are looking for. Karen, And what if you could describe 144 00:07:56,320 --> 00:08:02,560 Speaker 1: some of the locations that are accessible typically only by 145 00:08:02,600 --> 00:08:07,920 Speaker 1: a boat, by a yacht. Well, let's see, um, you know, 146 00:08:08,000 --> 00:08:12,080 Speaker 1: along the coast of New England, some of the little islands, um, 147 00:08:12,480 --> 00:08:14,840 Speaker 1: you know, Nantucket and Martha's Vineyard, Block Island. You know, 148 00:08:14,920 --> 00:08:17,240 Speaker 1: you can get there by ferry, but it's much more 149 00:08:17,280 --> 00:08:19,600 Speaker 1: fun by a yacht cutty hunk on up to the 150 00:08:19,880 --> 00:08:22,800 Speaker 1: coast of Maine and the Canadian Maritimes, you know, along 151 00:08:22,800 --> 00:08:26,720 Speaker 1: the coast of Florida, South Carolina, some of the Bahamas 152 00:08:26,760 --> 00:08:30,200 Speaker 1: islands that may not even have airports. Actually, um, I 153 00:08:30,240 --> 00:08:32,440 Speaker 1: just did a trip to Cuba by yacht. We flew 154 00:08:32,440 --> 00:08:34,920 Speaker 1: out of we flew into Key West and took a 155 00:08:35,000 --> 00:08:36,960 Speaker 1: yacht from Key West to Cuba and back and it 156 00:08:37,040 --> 00:08:39,160 Speaker 1: was just fantastic. It really was. What a great way 157 00:08:39,160 --> 00:08:41,480 Speaker 1: to see the island and I had it was my 158 00:08:41,520 --> 00:08:43,840 Speaker 1: first trip there. It was wonderful. So for someone who's 159 00:08:43,840 --> 00:08:46,199 Speaker 1: ever been on a yacht or done a trip like this, 160 00:08:46,520 --> 00:08:48,720 Speaker 1: just tell them from your experience what you would like 161 00:08:48,800 --> 00:08:52,160 Speaker 1: them to know. You are not just in this from 162 00:08:52,160 --> 00:08:56,080 Speaker 1: a business angle, the yachting, the you know this this 163 00:08:56,200 --> 00:09:00,240 Speaker 1: bug bait you a long time ago. Well, you know, 164 00:09:00,880 --> 00:09:04,080 Speaker 1: it's just I'd like to sail and and I lived 165 00:09:04,080 --> 00:09:07,240 Speaker 1: in the Caribbean actually during the eighties after college, and 166 00:09:07,520 --> 00:09:09,520 Speaker 1: that's kind of how I got got involved in this. 167 00:09:10,080 --> 00:09:13,520 Speaker 1: And uh, sailing through the islands and visiting the island. 168 00:09:13,600 --> 00:09:15,760 Speaker 1: What a great way to see the Caribbean islands. I mean, 169 00:09:16,200 --> 00:09:19,560 Speaker 1: there are some small islands like um, the Grenadines and 170 00:09:19,600 --> 00:09:22,280 Speaker 1: the Saints that that don't have airports and you can 171 00:09:22,320 --> 00:09:24,559 Speaker 1: only get to buy boat h same thing with the 172 00:09:24,600 --> 00:09:27,840 Speaker 1: Galapagos Islands. I did a trip there and you know, 173 00:09:28,160 --> 00:09:30,600 Speaker 1: just fantastic way to see them and to really get 174 00:09:30,640 --> 00:09:33,400 Speaker 1: up and up close and personal with the animals and 175 00:09:33,480 --> 00:09:36,720 Speaker 1: the wildlife and the beauty of the islands. What about 176 00:09:36,960 --> 00:09:40,680 Speaker 1: a family vacation on board such a yacht. What kinds 177 00:09:40,679 --> 00:09:44,120 Speaker 1: of details do people need to address? It's it's an 178 00:09:44,200 --> 00:09:47,400 Speaker 1: ideal vacation really for families. When my children were young, 179 00:09:47,480 --> 00:09:51,040 Speaker 1: probably two and four, we did a trip on Academy 180 00:09:51,320 --> 00:09:54,640 Speaker 1: in the Grenadines Islands and it was wonderful. My son 181 00:09:54,800 --> 00:09:57,520 Speaker 1: was crawling and it was a very safe boat. We 182 00:09:57,559 --> 00:09:59,200 Speaker 1: put life best on the two of them and they 183 00:09:59,480 --> 00:10:03,560 Speaker 1: respect the water and you know, we're just fine. It was. 184 00:10:03,720 --> 00:10:05,360 Speaker 1: It was really great. We it was easy to keep 185 00:10:05,360 --> 00:10:07,240 Speaker 1: an eye on that my son would crawl around the cockpit. 186 00:10:07,280 --> 00:10:11,400 Speaker 1: It was. It was actually very nice. So what's your 187 00:10:11,760 --> 00:10:17,360 Speaker 1: next destination by boat? By yacht? Next destination by yacht? Um, 188 00:10:17,360 --> 00:10:20,520 Speaker 1: maybe Maine this summer. It's a wonderful time to go 189 00:10:20,760 --> 00:10:24,120 Speaker 1: to to Maine. Uh In in the summer in New England, 190 00:10:24,200 --> 00:10:26,320 Speaker 1: actually all over New England is it's beautiful. Right here 191 00:10:26,320 --> 00:10:28,440 Speaker 1: in Newport today we had the start of the Newport 192 00:10:28,520 --> 00:10:31,160 Speaker 1: of Bermuda Race and we we have thought clients out 193 00:10:31,160 --> 00:10:34,120 Speaker 1: on yachts that are watching that start and then going 194 00:10:34,200 --> 00:10:38,040 Speaker 1: off on their charter. So it's very exciting. Um you know, 195 00:10:38,600 --> 00:10:41,920 Speaker 1: vanu Maine to Bermuda sounds lovely to me. Karen Kelly Sha, 196 00:10:42,000 --> 00:10:44,000 Speaker 1: thank you so very much for joining us as we 197 00:10:44,280 --> 00:10:47,200 Speaker 1: look at the luxury aboard a yacht, a yachting vacation. 198 00:10:47,280 --> 00:10:51,000 Speaker 1: She's president and CEO of Nicholson Yachts based in Newport, 199 00:10:51,080 --> 00:10:54,320 Speaker 1: Rhode Island. I'm Kathleen Hayes. Along with him Fox, we're 200 00:10:54,320 --> 00:11:01,959 Speaker 1: taking stock on Bloomberg Radio. Taking Stock of Luxury is 201 00:11:02,000 --> 00:11:04,760 Speaker 1: brought to you by your Tristate BMW Center's visit them 202 00:11:04,840 --> 00:11:08,240 Speaker 1: online at Tristate BMW dot com at BMW. They only 203 00:11:08,280 --> 00:11:13,200 Speaker 1: make one thing, the ultimate driving machine.