1 00:00:04,120 --> 00:00:08,440 Speaker 1: Broadcasting live to New York, Bloomberg eleven, Rio to Washington, 2 00:00:08,520 --> 00:00:13,520 Speaker 1: d C. Bloomberg to Boston, Bloomberg twelve to San Francisco, 3 00:00:13,640 --> 00:00:17,640 Speaker 1: Bloomberg nine to the country sees Exam Channel one nine 4 00:00:17,680 --> 00:00:20,959 Speaker 1: team and around the globe the Bloomberg Radio Plus Appen 5 00:00:21,040 --> 00:00:26,600 Speaker 1: Bloomberg dot Com. This is taking Stock. I'm Cathine Hayes. 6 00:00:26,680 --> 00:00:30,440 Speaker 1: My co host Pim Fox is on assignment this afternoon. 7 00:00:31,960 --> 00:00:35,839 Speaker 1: You wear the Steve Wynn is putting in a thirty 8 00:00:35,920 --> 00:00:39,680 Speaker 1: eight acre man made lake behind two of his last 9 00:00:39,960 --> 00:00:43,920 Speaker 1: Vegas hotels, a crystal lagoon. You ever stopped to wonder 10 00:00:43,960 --> 00:00:47,680 Speaker 1: how he's doing it, Well, he's working with Crystal Lagoons 11 00:00:47,720 --> 00:00:51,320 Speaker 1: in Miami based company that has an amazing technology to 12 00:00:51,360 --> 00:00:56,560 Speaker 1: create artificial lagoons that are sustainable, They're efficient in their 13 00:00:56,640 --> 00:00:59,680 Speaker 1: use of water and simply beautiful. Or a man is 14 00:00:59,720 --> 00:01:01,840 Speaker 1: a sea EO. He's going to be joining us to 15 00:01:01,840 --> 00:01:05,960 Speaker 1: tell us all about that technology and all about the business. 16 00:01:06,600 --> 00:01:09,120 Speaker 1: Now more about today's business with Charlie Pellett. He's in 17 00:01:09,120 --> 00:01:11,119 Speaker 1: the newsroom with the Bloomberg Business Flash, and I thank 18 00:01:11,160 --> 00:01:14,280 Speaker 1: you very much. Kathleen Hayes. The dal the SMPNEZDAK all 19 00:01:14,360 --> 00:01:18,200 Speaker 1: declining were brought to you by Commonwealth Financial Network. When 20 00:01:18,200 --> 00:01:21,440 Speaker 1: it's time to change the conversation, talk with a broker 21 00:01:21,480 --> 00:01:24,360 Speaker 1: dealer r I A that's ready to listen, Call eight 22 00:01:24,400 --> 00:01:27,520 Speaker 1: six six or six to thirty thirty eight or visit 23 00:01:27,600 --> 00:01:31,960 Speaker 1: Commonwealth dot com to learn more. Stocks are retreating SMP 24 00:01:32,120 --> 00:01:35,640 Speaker 1: five hunted index heading for the steepest drop in two months, 25 00:01:35,680 --> 00:01:39,400 Speaker 1: amid caution over tepid global growth and a series of 26 00:01:39,480 --> 00:01:43,119 Speaker 1: looming events with the potential to spur renewed market turbulence. 27 00:01:43,520 --> 00:01:48,760 Speaker 1: Losses intensified in afternoon trading following fresh pole results favoring 28 00:01:48,800 --> 00:01:53,600 Speaker 1: an exit in Britain's European Union referendum. Energy producers leading declines, 29 00:01:53,680 --> 00:01:56,600 Speaker 1: on track for the worst session in five weeks. Jason 30 00:01:56,720 --> 00:01:59,840 Speaker 1: Schenker is chief economist at Prestige Economics. He's warning of 31 00:01:59,880 --> 00:02:02,040 Speaker 1: a recession by the end of this year or next, 32 00:02:02,320 --> 00:02:05,400 Speaker 1: and says he's also concerned about the performance of Nastack 33 00:02:05,520 --> 00:02:10,840 Speaker 1: has been an unbroken downward trend of consistently lower highs 34 00:02:10,880 --> 00:02:14,480 Speaker 1: since last July, when the NASDAC peaks. We have not 35 00:02:14,639 --> 00:02:18,760 Speaker 1: broken that downward sloping trend. So even though we're above 36 00:02:18,880 --> 00:02:21,800 Speaker 1: the hundred twenty day moving average. Right now, we're still 37 00:02:21,840 --> 00:02:25,240 Speaker 1: below that ceiling. We have not crossed it, which I 38 00:02:25,280 --> 00:02:27,560 Speaker 1: think shows us if we've been in a downward slope 39 00:02:27,560 --> 00:02:32,080 Speaker 1: for eleven months in the Nasdack, then mean something gold 40 00:02:32,160 --> 00:02:34,480 Speaker 1: up five forty the alums to twelve seventy eight. A 41 00:02:34,520 --> 00:02:38,280 Speaker 1: game of point fo SMP down one a drop now 42 00:02:38,440 --> 00:02:41,680 Speaker 1: of one percent two on Wall Street. Now we'll look 43 00:02:41,680 --> 00:02:46,120 Speaker 1: at the other stories making news. Thank you, Charlie from 44 00:02:46,160 --> 00:02:49,640 Speaker 1: the Bloomberg Newsroom. I'm June Grosso. This news update is 45 00:02:49,639 --> 00:02:52,160 Speaker 1: brought to you by the Jeep Grand Cherokee, the most 46 00:02:52,160 --> 00:02:55,920 Speaker 1: awarded suv ever. The Grand Cherokee continues to raise the 47 00:02:55,919 --> 00:03:00,000 Speaker 1: bar with its luxurious interior and legendary four by four capability. 48 00:03:00,600 --> 00:03:04,480 Speaker 1: Drive one at your local Jeep dealer today. Presumptive Democratic 49 00:03:04,520 --> 00:03:08,560 Speaker 1: presidential nominee Hillary Clinton met with Senator Elizabeth Warren this morning, 50 00:03:08,639 --> 00:03:11,880 Speaker 1: as the two step up their political attacks on Donald Trump. 51 00:03:12,400 --> 00:03:15,320 Speaker 1: The meeting at Clinton's Washington, d C. Home came one 52 00:03:15,400 --> 00:03:19,440 Speaker 1: day after Warren joined President Obama in endorsing Clinton. The 53 00:03:19,520 --> 00:03:22,919 Speaker 1: House has passed a bipartisan bill aimed at resolving Puerto 54 00:03:23,040 --> 00:03:27,080 Speaker 1: Rico's debt crisis. The legislation would create an oversight board 55 00:03:27,120 --> 00:03:30,840 Speaker 1: to help restructure the US territory seventy billion dollar debt. 56 00:03:31,320 --> 00:03:34,200 Speaker 1: Puerto Rico faces the July first deadline for a two 57 00:03:34,240 --> 00:03:38,080 Speaker 1: billion dollar debt payment. Summer is almost here, and that 58 00:03:38,160 --> 00:03:42,320 Speaker 1: means mosquitoes and the risk of ZICA. CDC Director Tom 59 00:03:42,360 --> 00:03:45,560 Speaker 1: Freeden made another play for Congress to quickly provide funding 60 00:03:45,720 --> 00:03:49,000 Speaker 1: to fight zica. He says the CDC needs rapid response 61 00:03:49,040 --> 00:03:52,080 Speaker 1: teams to be ready when cases arise. Bloomberg Senate reporter 62 00:03:52,200 --> 00:03:55,040 Speaker 1: Stephen Dennis says some lawmakers are worried it will take 63 00:03:55,080 --> 00:03:58,480 Speaker 1: an outbreak in the US to make Congress move. Bill Nelson, 64 00:03:58,520 --> 00:04:00,800 Speaker 1: the Florida Senator, told me is now it's out of sight, 65 00:04:00,880 --> 00:04:03,920 Speaker 1: out of mind. Once there is an outbreak, it's going 66 00:04:04,000 --> 00:04:08,000 Speaker 1: to be probably lightning quick Amy Morris, Bloomberg Radio Washington. 67 00:04:08,280 --> 00:04:11,120 Speaker 1: The federal government is suing the city Department of Education, 68 00:04:11,240 --> 00:04:14,240 Speaker 1: saying it permitted a Queen's High school to discriminate against 69 00:04:14,280 --> 00:04:17,240 Speaker 1: black teachers. The suit seeks to force the city to 70 00:04:17,279 --> 00:04:21,360 Speaker 1: take steps to prevent future discrimination. Global News twenty four 71 00:04:21,360 --> 00:04:24,159 Speaker 1: hours a day, powered by our two hundred journalists and 72 00:04:24,160 --> 00:04:27,160 Speaker 1: more than one fifty news bureaus around the world. From 73 00:04:27,160 --> 00:04:31,680 Speaker 1: the Bloomberg Newsroom. I'm June Grosso, Charlie, and we thank 74 00:04:31,720 --> 00:04:34,760 Speaker 1: you and again recapping the stocks declined today, with the 75 00:04:34,880 --> 00:04:37,960 Speaker 1: SMP five hundred index falling twenty one points to two 76 00:04:38,040 --> 00:04:40,880 Speaker 1: thousand ninety four. We do have twenty five minutes to 77 00:04:40,920 --> 00:04:42,880 Speaker 1: go ahead of the close, but right now the SMP 78 00:04:43,040 --> 00:04:47,599 Speaker 1: is down one. I'm Charlie Platon. That's a Bloomberg business flash. 79 00:04:48,320 --> 00:04:51,799 Speaker 1: You're listening to Taking Stock with Pim Fox and Kathleen 80 00:04:51,880 --> 00:04:56,560 Speaker 1: Hayes on Bloomberg Radio. If you live on one of 81 00:04:56,600 --> 00:04:59,359 Speaker 1: the coast west or East, you may be used to 82 00:04:59,400 --> 00:05:02,400 Speaker 1: beautiful beaches and waves and sands. But what if you're 83 00:05:02,400 --> 00:05:05,120 Speaker 1: in some landlocked part of the country. Wouldn't it be 84 00:05:05,200 --> 00:05:08,159 Speaker 1: nice if you could just suddenly have a gorgeous, crystal 85 00:05:08,200 --> 00:05:12,200 Speaker 1: clear blue lagoon just just planted right in the middle 86 00:05:12,240 --> 00:05:15,360 Speaker 1: of your community. Well, that's we want to know about 87 00:05:15,360 --> 00:05:18,520 Speaker 1: a company that is doing exactly that. It's growing rapidly, 88 00:05:18,560 --> 00:05:21,599 Speaker 1: it's spreading around the country and around the world. It 89 00:05:21,800 --> 00:05:24,919 Speaker 1: is Crystal Lagoons And joining us now is the CEO 90 00:05:25,200 --> 00:05:29,080 Speaker 1: of Crystal Lagoons, U S. East. That's our man he's 91 00:05:29,160 --> 00:05:31,719 Speaker 1: based in Miami and you can follow him on Twitter 92 00:05:31,760 --> 00:05:34,680 Speaker 1: if you'd like to act ORIMN which is you are 93 00:05:34,800 --> 00:05:38,320 Speaker 1: I m a N so Crystal lagoons? Tell us what 94 00:05:38,440 --> 00:05:42,119 Speaker 1: these lagoons are, Kathleen. It's great to be on your show. 95 00:05:42,160 --> 00:05:44,760 Speaker 1: You know, my entire company here in our office as 96 00:05:44,760 --> 00:05:47,080 Speaker 1: we listen to Bloomberg Radio all the time. We're big fans, 97 00:05:47,520 --> 00:05:52,960 Speaker 1: so thank you for having me. Yeah. Well, Crystal Lagoon's 98 00:05:53,000 --> 00:05:57,080 Speaker 1: world water technology company. We enable developers and cities now 99 00:05:57,279 --> 00:06:00,240 Speaker 1: counties to create public parks with crystal lagoons, but to 100 00:06:00,279 --> 00:06:03,240 Speaker 1: build them and maintain them at a very low cost 101 00:06:03,760 --> 00:06:07,239 Speaker 1: using our proprietary patented technology. So this is a completely 102 00:06:07,240 --> 00:06:10,640 Speaker 1: different technology than pools. Um it's superior and we are 103 00:06:10,720 --> 00:06:13,920 Speaker 1: able to allow developers to build these lagoons and maintain 104 00:06:13,960 --> 00:06:16,440 Speaker 1: them at a very low cost. So what is the 105 00:06:16,520 --> 00:06:21,159 Speaker 1: technology behind this? So, if you're familiar with conventional swimming pools, 106 00:06:21,160 --> 00:06:24,320 Speaker 1: they require maintaining a very high permanent level of residual 107 00:06:24,400 --> 00:06:27,719 Speaker 1: chlorine to make sure that there's disinfection, and that's really 108 00:06:27,760 --> 00:06:30,320 Speaker 1: not possible on a large scale because you can imagine, 109 00:06:30,400 --> 00:06:33,120 Speaker 1: our typical lagoons are five to ten acres, are larger, 110 00:06:33,440 --> 00:06:35,680 Speaker 1: you would literally need dump trucks of chlorine. It would 111 00:06:35,680 --> 00:06:38,760 Speaker 1: never be able to be stabilized. So crystal lagoon solution 112 00:06:38,839 --> 00:06:42,680 Speaker 1: is we applied disinfection pulses within the lagoon, not requiring 113 00:06:42,720 --> 00:06:46,120 Speaker 1: maintaining this high permanent disinfection level, but only using controlled 114 00:06:46,120 --> 00:06:50,400 Speaker 1: pulses of very small quantities of oxidants applied according to 115 00:06:50,440 --> 00:06:53,719 Speaker 1: a specific algorithm on very specific patterns, and the results 116 00:06:53,760 --> 00:06:56,800 Speaker 1: of this are they we're able to use one times 117 00:06:56,920 --> 00:07:00,599 Speaker 1: less chemicals than a pool does and sift times less 118 00:07:00,720 --> 00:07:03,920 Speaker 1: energy energy um So, a typical lagoon has about four 119 00:07:04,360 --> 00:07:07,359 Speaker 1: censers or injectors around the walls of the lagoon, and 120 00:07:07,400 --> 00:07:10,280 Speaker 1: this allows us to use our proprietary technology to make 121 00:07:10,320 --> 00:07:13,360 Speaker 1: sure the water is always clean and safe for swimming 122 00:07:13,400 --> 00:07:17,880 Speaker 1: and for practicing water water sports and recreation. Tell us 123 00:07:18,040 --> 00:07:20,440 Speaker 1: about one of the give us an example of a 124 00:07:20,920 --> 00:07:24,760 Speaker 1: place that is now installing one of your crystal lagoons. 125 00:07:25,360 --> 00:07:29,400 Speaker 1: I mentioned Steve wynn Out in Las Vegas. What is 126 00:07:29,440 --> 00:07:31,160 Speaker 1: it like? I mean, you can just be in the 127 00:07:31,160 --> 00:07:34,840 Speaker 1: middle of a desert practically and suddenly boom, create the lagoon. 128 00:07:35,600 --> 00:07:37,720 Speaker 1: That's right. You know, we have thirteen signed contracts in 129 00:07:37,720 --> 00:07:39,760 Speaker 1: the United States we started. We opened up our office 130 00:07:39,800 --> 00:07:41,840 Speaker 1: a year and a half ago in Miami. That's where 131 00:07:41,840 --> 00:07:45,400 Speaker 1: our u S headquarters is, and our our projects are 132 00:07:45,640 --> 00:07:48,000 Speaker 1: a variety of different types of projects. You mentioned Steve 133 00:07:48,000 --> 00:07:50,840 Speaker 1: Winn's project, he's building a thirty eight acre crystal lagoon 134 00:07:51,440 --> 00:07:55,080 Speaker 1: behind the wind resort, and incidentally he's replacing the golf 135 00:07:55,080 --> 00:07:58,520 Speaker 1: course with his crystal lagoon and saving over of his 136 00:07:58,560 --> 00:08:01,520 Speaker 1: annual water use. The because our lagoons, in addition to 137 00:08:01,600 --> 00:08:04,200 Speaker 1: have a having a proprietary technology to keep the water 138 00:08:04,320 --> 00:08:08,360 Speaker 1: safe and clean for swimming, we also have evaporation controls, 139 00:08:08,400 --> 00:08:12,120 Speaker 1: so we can lower evaporation by more than with our additives, 140 00:08:12,240 --> 00:08:16,400 Speaker 1: which is very significant and in any case, just on average, 141 00:08:16,760 --> 00:08:20,600 Speaker 1: a typical seven acre crystal lagoon will use thirty times 142 00:08:20,680 --> 00:08:24,200 Speaker 1: less water on an annual basis than a typical eighteen 143 00:08:24,240 --> 00:08:26,920 Speaker 1: whole golf course. And if you compare a crystal lagoon 144 00:08:26,960 --> 00:08:29,720 Speaker 1: that's um ten acres in size to a normal park 145 00:08:29,760 --> 00:08:32,640 Speaker 1: of ten acres in size, crystal lagoon will use less 146 00:08:32,640 --> 00:08:36,120 Speaker 1: than of the water of a normal park with grass 147 00:08:36,120 --> 00:08:39,560 Speaker 1: and landscaping, So are environmentally sustainable begetting to your point, 148 00:08:39,600 --> 00:08:42,000 Speaker 1: the types of projects that we have, we have typically 149 00:08:42,160 --> 00:08:45,480 Speaker 1: masterplan communities, you know, where you have several hundred homes 150 00:08:45,559 --> 00:08:48,040 Speaker 1: or a thousand homes that have the crystal lagoon is 151 00:08:48,080 --> 00:08:50,480 Speaker 1: the centerpiece, really improving the quality of life of the 152 00:08:50,480 --> 00:08:53,080 Speaker 1: people who live in that community. We also have projects 153 00:08:53,080 --> 00:08:55,520 Speaker 1: now that will be moving forward with cities and counties 154 00:08:55,920 --> 00:08:58,480 Speaker 1: where a city can turn a park into a major 155 00:08:58,520 --> 00:09:01,480 Speaker 1: revenue generator and improve the quality of life of the 156 00:09:01,520 --> 00:09:04,040 Speaker 1: people living in that community, not just improve their life, 157 00:09:04,040 --> 00:09:07,960 Speaker 1: but also improved property values, increased tourism, and in many 158 00:09:08,000 --> 00:09:11,640 Speaker 1: cases they will be transforming these parks into what was 159 00:09:11,720 --> 00:09:14,920 Speaker 1: before an expense into a real profit center. So that's 160 00:09:15,000 --> 00:09:18,520 Speaker 1: very exciting. But our our amenities can be applied to 161 00:09:18,640 --> 00:09:23,200 Speaker 1: master playing communities, rental apartments, hotel projects, hospitality, time share, 162 00:09:23,880 --> 00:09:25,720 Speaker 1: a variety of different types of real stateies. So you 163 00:09:25,720 --> 00:09:29,840 Speaker 1: are able to scale this business potentially in a very 164 00:09:29,960 --> 00:09:32,520 Speaker 1: very big way and make a lot of money. Speaking 165 00:09:32,559 --> 00:09:35,080 Speaker 1: of money, how much does it cost if I want 166 00:09:35,080 --> 00:09:37,760 Speaker 1: to install a crystal little goodness and I've got a 167 00:09:37,800 --> 00:09:40,280 Speaker 1: community I'm developing, or I'm the mayor of a city, 168 00:09:40,280 --> 00:09:43,200 Speaker 1: how much does it cost? A great question. So typically 169 00:09:43,240 --> 00:09:45,280 Speaker 1: a lagoon in the range of five to ten acres 170 00:09:45,280 --> 00:09:47,920 Speaker 1: in size will cost in the range of two hundred 171 00:09:47,960 --> 00:09:51,480 Speaker 1: fifty thousand per acre to build, and that includes a liner, 172 00:09:51,520 --> 00:09:55,240 Speaker 1: includes building the walls, includes our machine room that pumps 173 00:09:55,240 --> 00:09:58,880 Speaker 1: the telemetry system, so about two hundred fifty dollars an acre. 174 00:09:59,320 --> 00:10:02,760 Speaker 1: And they're also very affordable to maintain. Usually the lagoons 175 00:10:02,800 --> 00:10:07,920 Speaker 1: are in the range of two thousand per month per 176 00:10:08,000 --> 00:10:12,080 Speaker 1: acre of water, and that that includes both your additives 177 00:10:12,120 --> 00:10:15,880 Speaker 1: and your electricity. So our system is much more affordable 178 00:10:16,520 --> 00:10:19,440 Speaker 1: um and makes it economically viable for a wide variety 179 00:10:19,440 --> 00:10:22,520 Speaker 1: of different types of projects. Well, or a man, I'd 180 00:10:22,520 --> 00:10:25,360 Speaker 1: love to see a Crystal lagoons sometime. Oh, I'd love 181 00:10:25,360 --> 00:10:27,480 Speaker 1: to take you to see one. The first one will 182 00:10:27,520 --> 00:10:31,079 Speaker 1: be open in the United States in Epperson Ranch in Tampa, 183 00:10:31,120 --> 00:10:33,560 Speaker 1: Florida by the end of the year, and we have 184 00:10:33,640 --> 00:10:36,000 Speaker 1: eleven more projects that should be open in the next 185 00:10:36,040 --> 00:10:38,120 Speaker 1: two years in the US. It's very exciting. Well, I 186 00:10:38,160 --> 00:10:40,760 Speaker 1: guess I'll have a chance to see them. Fascinating or 187 00:10:40,760 --> 00:10:43,000 Speaker 1: a man, thank you so much. He's the CEO of 188 00:10:43,040 --> 00:10:49,199 Speaker 1: Crystal Lagoons U S East based in Miami. Amazing new technology, 189 00:10:49,400 --> 00:10:52,000 Speaker 1: beautiful artificial lagoons and you don't need to bunch, dump 190 00:10:52,000 --> 00:10:54,600 Speaker 1: a bunch of chlorine, and that's great for swimmers. I'm 191 00:10:54,679 --> 00:11:01,240 Speaker 1: Kathleen Hayes taking stock on Bloomberg Radio. The stock market 192 00:11:01,520 --> 00:11:04,360 Speaker 1: in retreat, the SMP five hundred heading for its steepest 193 00:11:04,400 --> 00:11:07,720 Speaker 1: drop in two months. Is the global economy slowing down? 194 00:11:08,480 --> 00:11:10,480 Speaker 1: Is Brexit going to occur? What does it mean for 195 00:11:10,520 --> 00:11:12,800 Speaker 1: the markets. That's coming up on Bloomberg Radio.