Speaker 1: Broadcasting live to New York, Bloomberg eleven, Rio to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg twelve to San Francisco,
Speaker 1: Bloomberg nine to the country sees Exam Channel one nine
Speaker 1: team and around the globe the Bloomberg Radio Plus Appen
Speaker 1: Bloomberg dot Com. This is taking Stock. I'm Cathine Hayes.
Speaker 1: My co host Pim Fox is on assignment this afternoon.
Speaker 1: You wear the Steve Wynn is putting in a thirty
Speaker 1: eight acre man made lake behind two of his last
Speaker 1: Vegas hotels, a crystal lagoon. You ever stopped to wonder
Speaker 1: how he's doing it, Well, he's working with Crystal Lagoons
Speaker 1: in Miami based company that has an amazing technology to
Speaker 1: create artificial lagoons that are sustainable, They're efficient in their
Speaker 1: use of water and simply beautiful. Or a man is
Speaker 1: a sea EO. He's going to be joining us to
Speaker 1: tell us all about that technology and all about the business.
Speaker 1: Now more about today's business with Charlie Pellett. He's in
Speaker 1: the newsroom with the Bloomberg Business Flash, and I thank
Speaker 1: you very much. Kathleen Hayes. The dal the SMPNEZDAK all
Speaker 1: declining were brought to you by Commonwealth Financial Network. When
Speaker 1: it's time to change the conversation, talk with a broker
Speaker 1: dealer r I A that's ready to listen, Call eight
Speaker 1: six six or six to thirty thirty eight or visit
Speaker 1: Commonwealth dot com to learn more. Stocks are retreating SMP
Speaker 1: five hunted index heading for the steepest drop in two months,
Speaker 1: amid caution over tepid global growth and a series of
Speaker 1: looming events with the potential to spur renewed market turbulence.
Speaker 1: Losses intensified in afternoon trading following fresh pole results favoring
Speaker 1: an exit in Britain's European Union referendum. Energy producers leading declines,
Speaker 1: on track for the worst session in five weeks. Jason
Speaker 1: Schenker is chief economist at Prestige Economics. He's warning of
Speaker 1: a recession by the end of this year or next,
Speaker 1: and says he's also concerned about the performance of Nastack
Speaker 1: has been an unbroken downward trend of consistently lower highs
Speaker 1: since last July, when the NASDAC peaks. We have not
Speaker 1: broken that downward sloping trend. So even though we're above
Speaker 1: the hundred twenty day moving average. Right now, we're still
Speaker 1: below that ceiling. We have not crossed it, which I
Speaker 1: think shows us if we've been in a downward slope
Speaker 1: for eleven months in the Nasdack, then mean something gold
Speaker 1: up five forty the alums to twelve seventy eight. A
Speaker 1: game of point fo SMP down one a drop now
Speaker 1: of one percent two on Wall Street. Now we'll look
Speaker 1: at the other stories making news. Thank you, Charlie from
Speaker 1: the Bloomberg Newsroom. I'm June Grosso. This news update is
Speaker 1: brought to you by the Jeep Grand Cherokee, the most
Speaker 1: awarded suv ever. The Grand Cherokee continues to raise the
Speaker 1: bar with its luxurious interior and legendary four by four capability.
Speaker 1: Drive one at your local Jeep dealer today. Presumptive Democratic
Speaker 1: presidential nominee Hillary Clinton met with Senator Elizabeth Warren this morning,
Speaker 1: as the two step up their political attacks on Donald Trump.
Speaker 1: The meeting at Clinton's Washington, d C. Home came one
Speaker 1: day after Warren joined President Obama in endorsing Clinton. The
Speaker 1: House has passed a bipartisan bill aimed at resolving Puerto
Speaker 1: Rico's debt crisis. The legislation would create an oversight board
Speaker 1: to help restructure the US territory seventy billion dollar debt.
Speaker 1: Puerto Rico faces the July first deadline for a two
Speaker 1: billion dollar debt payment. Summer is almost here, and that
Speaker 1: means mosquitoes and the risk of ZICA. CDC Director Tom
Speaker 1: Freeden made another play for Congress to quickly provide funding
Speaker 1: to fight zica. He says the CDC needs rapid response
Speaker 1: teams to be ready when cases arise. Bloomberg Senate reporter
Speaker 1: Stephen Dennis says some lawmakers are worried it will take
Speaker 1: an outbreak in the US to make Congress move. Bill Nelson,
Speaker 1: the Florida Senator, told me is now it's out of sight,
Speaker 1: out of mind. Once there is an outbreak, it's going
Speaker 1: to be probably lightning quick Amy Morris, Bloomberg Radio Washington.
Speaker 1: The federal government is suing the city Department of Education,
Speaker 1: saying it permitted a Queen's High school to discriminate against
Speaker 1: black teachers. The suit seeks to force the city to
Speaker 1: take steps to prevent future discrimination. Global News twenty four
Speaker 1: hours a day, powered by our two hundred journalists and
Speaker 1: more than one fifty news bureaus around the world. From
Speaker 1: the Bloomberg Newsroom. I'm June Grosso, Charlie, and we thank
Speaker 1: you and again recapping the stocks declined today, with the
Speaker 1: SMP five hundred index falling twenty one points to two
Speaker 1: thousand ninety four. We do have twenty five minutes to
Speaker 1: go ahead of the close, but right now the SMP
Speaker 1: is down one. I'm Charlie Platon. That's a Bloomberg business flash.
Speaker 1: You're listening to Taking Stock with Pim Fox and Kathleen
Speaker 1: Hayes on Bloomberg Radio. If you live on one of
Speaker 1: the coast west or East, you may be used to
Speaker 1: beautiful beaches and waves and sands. But what if you're
Speaker 1: in some landlocked part of the country. Wouldn't it be
Speaker 1: nice if you could just suddenly have a gorgeous, crystal
Speaker 1: clear blue lagoon just just planted right in the middle
Speaker 1: of your community. Well, that's we want to know about
Speaker 1: a company that is doing exactly that. It's growing rapidly,
Speaker 1: it's spreading around the country and around the world. It
Speaker 1: is Crystal Lagoons And joining us now is the CEO
Speaker 1: of Crystal Lagoons, U S. East. That's our man he's
Speaker 1: based in Miami and you can follow him on Twitter
Speaker 1: if you'd like to act ORIMN which is you are
Speaker 1: I m a N so Crystal lagoons? Tell us what
Speaker 1: these lagoons are, Kathleen. It's great to be on your show.
Speaker 1: You know, my entire company here in our office as
Speaker 1: we listen to Bloomberg Radio all the time. We're big fans,
Speaker 1: so thank you for having me. Yeah. Well, Crystal Lagoon's
Speaker 1: world water technology company. We enable developers and cities now
Speaker 1: counties to create public parks with crystal lagoons, but to
Speaker 1: build them and maintain them at a very low cost
Speaker 1: using our proprietary patented technology. So this is a completely
Speaker 1: different technology than pools. Um it's superior and we are
Speaker 1: able to allow developers to build these lagoons and maintain
Speaker 1: them at a very low cost. So what is the
Speaker 1: technology behind this? So, if you're familiar with conventional swimming pools,
Speaker 1: they require maintaining a very high permanent level of residual
Speaker 1: chlorine to make sure that there's disinfection, and that's really
Speaker 1: not possible on a large scale because you can imagine,
Speaker 1: our typical lagoons are five to ten acres, are larger,
Speaker 1: you would literally need dump trucks of chlorine. It would
Speaker 1: never be able to be stabilized. So crystal lagoon solution
Speaker 1: is we applied disinfection pulses within the lagoon, not requiring
Speaker 1: maintaining this high permanent disinfection level, but only using controlled
Speaker 1: pulses of very small quantities of oxidants applied according to
Speaker 1: a specific algorithm on very specific patterns, and the results
Speaker 1: of this are they we're able to use one times
Speaker 1: less chemicals than a pool does and sift times less
Speaker 1: energy energy um So, a typical lagoon has about four
Speaker 1: censers or injectors around the walls of the lagoon, and
Speaker 1: this allows us to use our proprietary technology to make
Speaker 1: sure the water is always clean and safe for swimming
Speaker 1: and for practicing water water sports and recreation. Tell us
Speaker 1: about one of the give us an example of a
Speaker 1: place that is now installing one of your crystal lagoons.
Speaker 1: I mentioned Steve wynn Out in Las Vegas. What is
Speaker 1: it like? I mean, you can just be in the
Speaker 1: middle of a desert practically and suddenly boom, create the lagoon.
Speaker 1: That's right. You know, we have thirteen signed contracts in
Speaker 1: the United States we started. We opened up our office
Speaker 1: a year and a half ago in Miami. That's where
Speaker 1: our u S headquarters is, and our our projects are
Speaker 1: a variety of different types of projects. You mentioned Steve
Speaker 1: Winn's project, he's building a thirty eight acre crystal lagoon
Speaker 1: behind the wind resort, and incidentally he's replacing the golf
Speaker 1: course with his crystal lagoon and saving over of his
Speaker 1: annual water use. The because our lagoons, in addition to
Speaker 1: have a having a proprietary technology to keep the water
Speaker 1: safe and clean for swimming, we also have evaporation controls,
Speaker 1: so we can lower evaporation by more than with our additives,
Speaker 1: which is very significant and in any case, just on average,
Speaker 1: a typical seven acre crystal lagoon will use thirty times
Speaker 1: less water on an annual basis than a typical eighteen
Speaker 1: whole golf course. And if you compare a crystal lagoon
Speaker 1: that's um ten acres in size to a normal park
Speaker 1: of ten acres in size, crystal lagoon will use less
Speaker 1: than of the water of a normal park with grass
Speaker 1: and landscaping, So are environmentally sustainable begetting to your point,
Speaker 1: the types of projects that we have, we have typically
Speaker 1: masterplan communities, you know, where you have several hundred homes
Speaker 1: or a thousand homes that have the crystal lagoon is
Speaker 1: the centerpiece, really improving the quality of life of the
Speaker 1: people who live in that community. We also have projects
Speaker 1: now that will be moving forward with cities and counties
Speaker 1: where a city can turn a park into a major
Speaker 1: revenue generator and improve the quality of life of the
Speaker 1: people living in that community, not just improve their life,
Speaker 1: but also improved property values, increased tourism, and in many
Speaker 1: cases they will be transforming these parks into what was
Speaker 1: before an expense into a real profit center. So that's
Speaker 1: very exciting. But our our amenities can be applied to
Speaker 1: master playing communities, rental apartments, hotel projects, hospitality, time share,
Speaker 1: a variety of different types of real stateies. So you
Speaker 1: are able to scale this business potentially in a very
Speaker 1: very big way and make a lot of money. Speaking
Speaker 1: of money, how much does it cost if I want
Speaker 1: to install a crystal little goodness and I've got a
Speaker 1: community I'm developing, or I'm the mayor of a city,
Speaker 1: how much does it cost? A great question. So typically
Speaker 1: a lagoon in the range of five to ten acres
Speaker 1: in size will cost in the range of two hundred
Speaker 1: fifty thousand per acre to build, and that includes a liner,
Speaker 1: includes building the walls, includes our machine room that pumps
Speaker 1: the telemetry system, so about two hundred fifty dollars an acre.
Speaker 1: And they're also very affordable to maintain. Usually the lagoons
Speaker 1: are in the range of two thousand per month per
Speaker 1: acre of water, and that that includes both your additives
Speaker 1: and your electricity. So our system is much more affordable
Speaker 1: um and makes it economically viable for a wide variety
Speaker 1: of different types of projects. Well, or a man, I'd
Speaker 1: love to see a Crystal lagoons sometime. Oh, I'd love
Speaker 1: to take you to see one. The first one will
Speaker 1: be open in the United States in Epperson Ranch in Tampa,
Speaker 1: Florida by the end of the year, and we have
Speaker 1: eleven more projects that should be open in the next
Speaker 1: two years in the US. It's very exciting. Well, I
Speaker 1: guess I'll have a chance to see them. Fascinating or
Speaker 1: a man, thank you so much. He's the CEO of
Speaker 1: Crystal Lagoons U S East based in Miami. Amazing new technology,
Speaker 1: beautiful artificial lagoons and you don't need to bunch, dump
Speaker 1: a bunch of chlorine, and that's great for swimmers. I'm
Speaker 1: Kathleen Hayes taking stock on Bloomberg Radio. The stock market
Speaker 1: in retreat, the SMP five hundred heading for its steepest
Speaker 1: drop in two months. Is the global economy slowing down?
Speaker 1: Is Brexit going to occur? What does it mean for
Speaker 1: the markets. That's coming up on Bloomberg Radio.