WEBVTT - Crystal Lagoons' Man on Building Beach Life in Deserts (Audio)

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<v Speaker 1>Broadcasting live to New York, Bloomberg eleven, Rio to Washington,

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<v Speaker 1>d C. Bloomberg to Boston, Bloomberg twelve to San Francisco,

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<v Speaker 1>Bloomberg nine to the country sees Exam Channel one nine

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<v Speaker 1>team and around the globe the Bloomberg Radio Plus Appen

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<v Speaker 1>Bloomberg dot Com. This is taking Stock. I'm Cathine Hayes.

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<v Speaker 1>My co host Pim Fox is on assignment this afternoon.

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<v Speaker 1>You wear the Steve Wynn is putting in a thirty

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<v Speaker 1>eight acre man made lake behind two of his last

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<v Speaker 1>Vegas hotels, a crystal lagoon. You ever stopped to wonder

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<v Speaker 1>how he's doing it, Well, he's working with Crystal Lagoons

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<v Speaker 1>in Miami based company that has an amazing technology to

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<v Speaker 1>create artificial lagoons that are sustainable, They're efficient in their

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<v Speaker 1>use of water and simply beautiful. Or a man is

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<v Speaker 1>a sea EO. He's going to be joining us to

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<v Speaker 1>tell us all about that technology and all about the business.

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<v Speaker 1>Now more about today's business with Charlie Pellett. He's in

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<v Speaker 1>the newsroom with the Bloomberg Business Flash, and I thank

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<v Speaker 1>you very much. Kathleen Hayes. The dal the SMPNEZDAK all

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<v Speaker 1>declining were brought to you by Commonwealth Financial Network. When

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<v Speaker 1>it's time to change the conversation, talk with a broker

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<v Speaker 1>dealer r I A that's ready to listen, Call eight

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<v Speaker 1>six six or six to thirty thirty eight or visit

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<v Speaker 1>Commonwealth dot com to learn more. Stocks are retreating SMP

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<v Speaker 1>five hunted index heading for the steepest drop in two months,

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<v Speaker 1>amid caution over tepid global growth and a series of

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<v Speaker 1>looming events with the potential to spur renewed market turbulence.

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<v Speaker 1>Losses intensified in afternoon trading following fresh pole results favoring

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<v Speaker 1>an exit in Britain's European Union referendum. Energy producers leading declines,

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<v Speaker 1>on track for the worst session in five weeks. Jason

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<v Speaker 1>Schenker is chief economist at Prestige Economics. He's warning of

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<v Speaker 1>a recession by the end of this year or next,

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<v Speaker 1>and says he's also concerned about the performance of Nastack

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<v Speaker 1>has been an unbroken downward trend of consistently lower highs

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<v Speaker 1>since last July, when the NASDAC peaks. We have not

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<v Speaker 1>broken that downward sloping trend. So even though we're above

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<v Speaker 1>the hundred twenty day moving average. Right now, we're still

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<v Speaker 1>below that ceiling. We have not crossed it, which I

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<v Speaker 1>think shows us if we've been in a downward slope

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<v Speaker 1>for eleven months in the Nasdack, then mean something gold

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<v Speaker 1>up five forty the alums to twelve seventy eight. A

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<v Speaker 1>game of point fo SMP down one a drop now

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<v Speaker 1>of one percent two on Wall Street. Now we'll look

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<v Speaker 1>at the other stories making news. Thank you, Charlie from

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<v Speaker 1>the Bloomberg Newsroom. I'm June Grosso. This news update is

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<v Speaker 1>brought to you by the Jeep Grand Cherokee, the most

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<v Speaker 1>awarded suv ever. The Grand Cherokee continues to raise the

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<v Speaker 1>bar with its luxurious interior and legendary four by four capability.

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<v Speaker 1>Drive one at your local Jeep dealer today. Presumptive Democratic

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<v Speaker 1>presidential nominee Hillary Clinton met with Senator Elizabeth Warren this morning,

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<v Speaker 1>as the two step up their political attacks on Donald Trump.

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<v Speaker 1>The meeting at Clinton's Washington, d C. Home came one

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<v Speaker 1>day after Warren joined President Obama in endorsing Clinton. The

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<v Speaker 1>House has passed a bipartisan bill aimed at resolving Puerto

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<v Speaker 1>Rico's debt crisis. The legislation would create an oversight board

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<v Speaker 1>to help restructure the US territory seventy billion dollar debt.

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<v Speaker 1>Puerto Rico faces the July first deadline for a two

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<v Speaker 1>billion dollar debt payment. Summer is almost here, and that

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<v Speaker 1>means mosquitoes and the risk of ZICA. CDC Director Tom

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<v Speaker 1>Freeden made another play for Congress to quickly provide funding

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<v Speaker 1>to fight zica. He says the CDC needs rapid response

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<v Speaker 1>teams to be ready when cases arise. Bloomberg Senate reporter

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<v Speaker 1>Stephen Dennis says some lawmakers are worried it will take

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<v Speaker 1>an outbreak in the US to make Congress move. Bill Nelson,

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<v Speaker 1>the Florida Senator, told me is now it's out of sight,

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<v Speaker 1>out of mind. Once there is an outbreak, it's going

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<v Speaker 1>to be probably lightning quick Amy Morris, Bloomberg Radio Washington.

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<v Speaker 1>The federal government is suing the city Department of Education,

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<v Speaker 1>saying it permitted a Queen's High school to discriminate against

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<v Speaker 1>black teachers. The suit seeks to force the city to

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<v Speaker 1>take steps to prevent future discrimination. Global News twenty four

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<v Speaker 1>hours a day, powered by our two hundred journalists and

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<v Speaker 1>more than one fifty news bureaus around the world. From

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<v Speaker 1>the Bloomberg Newsroom. I'm June Grosso, Charlie, and we thank

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<v Speaker 1>you and again recapping the stocks declined today, with the

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<v Speaker 1>SMP five hundred index falling twenty one points to two

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<v Speaker 1>thousand ninety four. We do have twenty five minutes to

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<v Speaker 1>go ahead of the close, but right now the SMP

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<v Speaker 1>is down one. I'm Charlie Platon. That's a Bloomberg business flash.

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<v Speaker 1>You're listening to Taking Stock with Pim Fox and Kathleen

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<v Speaker 1>Hayes on Bloomberg Radio. If you live on one of

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<v Speaker 1>the coast west or East, you may be used to

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<v Speaker 1>beautiful beaches and waves and sands. But what if you're

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<v Speaker 1>in some landlocked part of the country. Wouldn't it be

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<v Speaker 1>nice if you could just suddenly have a gorgeous, crystal

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<v Speaker 1>clear blue lagoon just just planted right in the middle

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<v Speaker 1>of your community. Well, that's we want to know about

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<v Speaker 1>a company that is doing exactly that. It's growing rapidly,

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<v Speaker 1>it's spreading around the country and around the world. It

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<v Speaker 1>is Crystal Lagoons And joining us now is the CEO

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<v Speaker 1>of Crystal Lagoons, U S. East. That's our man he's

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<v Speaker 1>based in Miami and you can follow him on Twitter

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<v Speaker 1>if you'd like to act ORIMN which is you are

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<v Speaker 1>I m a N so Crystal lagoons? Tell us what

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<v Speaker 1>these lagoons are, Kathleen. It's great to be on your show.

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<v Speaker 1>You know, my entire company here in our office as

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<v Speaker 1>we listen to Bloomberg Radio all the time. We're big fans,

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<v Speaker 1>so thank you for having me. Yeah. Well, Crystal Lagoon's

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<v Speaker 1>world water technology company. We enable developers and cities now

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<v Speaker 1>counties to create public parks with crystal lagoons, but to

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<v Speaker 1>build them and maintain them at a very low cost

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<v Speaker 1>using our proprietary patented technology. So this is a completely

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<v Speaker 1>different technology than pools. Um it's superior and we are

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<v Speaker 1>able to allow developers to build these lagoons and maintain

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<v Speaker 1>them at a very low cost. So what is the

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<v Speaker 1>technology behind this? So, if you're familiar with conventional swimming pools,

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<v Speaker 1>they require maintaining a very high permanent level of residual

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<v Speaker 1>chlorine to make sure that there's disinfection, and that's really

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<v Speaker 1>not possible on a large scale because you can imagine,

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<v Speaker 1>our typical lagoons are five to ten acres, are larger,

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<v Speaker 1>you would literally need dump trucks of chlorine. It would

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<v Speaker 1>never be able to be stabilized. So crystal lagoon solution

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<v Speaker 1>is we applied disinfection pulses within the lagoon, not requiring

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<v Speaker 1>maintaining this high permanent disinfection level, but only using controlled

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<v Speaker 1>pulses of very small quantities of oxidants applied according to

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<v Speaker 1>a specific algorithm on very specific patterns, and the results

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<v Speaker 1>of this are they we're able to use one times

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<v Speaker 1>less chemicals than a pool does and sift times less

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<v Speaker 1>energy energy um So, a typical lagoon has about four

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<v Speaker 1>censers or injectors around the walls of the lagoon, and

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<v Speaker 1>this allows us to use our proprietary technology to make

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<v Speaker 1>sure the water is always clean and safe for swimming

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<v Speaker 1>and for practicing water water sports and recreation. Tell us

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<v Speaker 1>about one of the give us an example of a

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<v Speaker 1>place that is now installing one of your crystal lagoons.

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<v Speaker 1>I mentioned Steve wynn Out in Las Vegas. What is

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<v Speaker 1>it like? I mean, you can just be in the

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<v Speaker 1>middle of a desert practically and suddenly boom, create the lagoon.

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<v Speaker 1>That's right. You know, we have thirteen signed contracts in

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<v Speaker 1>the United States we started. We opened up our office

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<v Speaker 1>a year and a half ago in Miami. That's where

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<v Speaker 1>our u S headquarters is, and our our projects are

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<v Speaker 1>a variety of different types of projects. You mentioned Steve

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<v Speaker 1>Winn's project, he's building a thirty eight acre crystal lagoon

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<v Speaker 1>behind the wind resort, and incidentally he's replacing the golf

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<v Speaker 1>course with his crystal lagoon and saving over of his

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<v Speaker 1>annual water use. The because our lagoons, in addition to

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<v Speaker 1>have a having a proprietary technology to keep the water

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<v Speaker 1>safe and clean for swimming, we also have evaporation controls,

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<v Speaker 1>so we can lower evaporation by more than with our additives,

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<v Speaker 1>which is very significant and in any case, just on average,

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<v Speaker 1>a typical seven acre crystal lagoon will use thirty times

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<v Speaker 1>less water on an annual basis than a typical eighteen

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<v Speaker 1>whole golf course. And if you compare a crystal lagoon

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<v Speaker 1>that's um ten acres in size to a normal park

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<v Speaker 1>of ten acres in size, crystal lagoon will use less

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<v Speaker 1>than of the water of a normal park with grass

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<v Speaker 1>and landscaping, So are environmentally sustainable begetting to your point,

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<v Speaker 1>the types of projects that we have, we have typically

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<v Speaker 1>masterplan communities, you know, where you have several hundred homes

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<v Speaker 1>or a thousand homes that have the crystal lagoon is

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<v Speaker 1>the centerpiece, really improving the quality of life of the

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<v Speaker 1>people who live in that community. We also have projects

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<v Speaker 1>now that will be moving forward with cities and counties

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<v Speaker 1>where a city can turn a park into a major

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<v Speaker 1>revenue generator and improve the quality of life of the

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<v Speaker 1>people living in that community, not just improve their life,

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<v Speaker 1>but also improved property values, increased tourism, and in many

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<v Speaker 1>cases they will be transforming these parks into what was

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<v Speaker 1>before an expense into a real profit center. So that's

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<v Speaker 1>very exciting. But our our amenities can be applied to

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<v Speaker 1>master playing communities, rental apartments, hotel projects, hospitality, time share,

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<v Speaker 1>a variety of different types of real stateies. So you

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<v Speaker 1>are able to scale this business potentially in a very

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<v Speaker 1>very big way and make a lot of money. Speaking

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<v Speaker 1>of money, how much does it cost if I want

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<v Speaker 1>to install a crystal little goodness and I've got a

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<v Speaker 1>community I'm developing, or I'm the mayor of a city,

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<v Speaker 1>how much does it cost? A great question. So typically

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<v Speaker 1>a lagoon in the range of five to ten acres

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<v Speaker 1>in size will cost in the range of two hundred

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<v Speaker 1>fifty thousand per acre to build, and that includes a liner,

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<v Speaker 1>includes building the walls, includes our machine room that pumps

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<v Speaker 1>the telemetry system, so about two hundred fifty dollars an acre.

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<v Speaker 1>And they're also very affordable to maintain. Usually the lagoons

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<v Speaker 1>are in the range of two thousand per month per

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<v Speaker 1>acre of water, and that that includes both your additives

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<v Speaker 1>and your electricity. So our system is much more affordable

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<v Speaker 1>um and makes it economically viable for a wide variety

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<v Speaker 1>of different types of projects. Well, or a man, I'd

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<v Speaker 1>love to see a Crystal lagoons sometime. Oh, I'd love

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<v Speaker 1>to take you to see one. The first one will

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<v Speaker 1>be open in the United States in Epperson Ranch in Tampa,

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<v Speaker 1>Florida by the end of the year, and we have

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<v Speaker 1>eleven more projects that should be open in the next

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<v Speaker 1>two years in the US. It's very exciting. Well, I

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<v Speaker 1>guess I'll have a chance to see them. Fascinating or

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<v Speaker 1>a man, thank you so much. He's the CEO of

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<v Speaker 1>Crystal Lagoons U S East based in Miami. Amazing new technology,

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<v Speaker 1>beautiful artificial lagoons and you don't need to bunch, dump

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<v Speaker 1>a bunch of chlorine, and that's great for swimmers. I'm

0:10:54.679 --> 0:11:01.240
<v Speaker 1>Kathleen Hayes taking stock on Bloomberg Radio. The stock market

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<v Speaker 1>in retreat, the SMP five hundred heading for its steepest

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<v Speaker 1>drop in two months. Is the global economy slowing down?

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<v Speaker 1>Is Brexit going to occur? What does it mean for

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<v Speaker 1>the markets. That's coming up on Bloomberg Radio.