Speaker 1: Broadcasting live to New York, Bloomberg eleventh, bo to Washington,
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Speaker 1: and around the globe the Bloomberg Radiolus and Bloomberg dot Com.
Speaker 1: This is taking Stock. I'm Kathleen Hayes along with Pim Fox.
Speaker 1: We're broadcasting live today from Elbow Beach, Bermuda and ocean
Speaker 1: front enclave of classic style and contemporary luxury. Pim how
Speaker 1: about a drink so special it's got a trademark, the
Speaker 1: trademark drink, yes, sir, and a very special rum. All right,
Speaker 1: I have a feeling I know what it is, but
Speaker 1: I don't want to give it away, but I will
Speaker 1: just say that this has to do also with the
Speaker 1: story of a two hundred plus year old family business.
Speaker 1: We're going to talk more about that we are here
Speaker 1: in Bermuda, but right now let's go to Charlie Pellett
Speaker 1: and the Bloomberg News from Fort bloom Birt Business flathand
Speaker 1: I thank you him, thank you Kathleen Stalks. At the
Speaker 1: worst level of the day right now, A one hundred
Speaker 1: seventy seven point drop for the down Jones industrial average
Speaker 1: down one percent. We are brought to you by the
Speaker 1: American Arbitration Association. Business disputes are inevitable, resolve faster with
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Speaker 1: resolution for over eighty five years. Learn more at a
Speaker 1: d r dot org. Stocks are slipping amid lackluster results
Speaker 1: from large retailers. One prime example Nordstrom. It is downcent
Speaker 1: after disappointing earnings. Apple trading little changed right now down
Speaker 1: one set. Apple is investing a billion dollars, indeed, giving
Speaker 1: the Chinese ride hailing startup a powerful ally and dealing
Speaker 1: a blow to Uber Technologies because it tries to build
Speaker 1: its business in the country. Tim Higgins has covered cars.
Speaker 1: He's also covered Apple for Bloomberg News. He was interview
Speaker 1: this morning on Bloomberg Television. Well, right now, in the
Speaker 1: tech and automotive space, there's a is a huge race
Speaker 1: and develop the future transportation, and so I tie up
Speaker 1: with a company like DD could help Apple down the
Speaker 1: road if in fact it's going to do its own
Speaker 1: driverless car. There's a developing theory within the driverless car
Speaker 1: a space that the way this technology is going to
Speaker 1: really hit the masses is through cars hailing services such
Speaker 1: as Uber, such as d D such as Lift. That
Speaker 1: would be any investment theory behind GM, Steak and Lift.
Speaker 1: Earlier this year, they see it it as you're not
Speaker 1: gonna buy this technology, You're gonna hail it to your
Speaker 1: house or wherever you need to go. Gold trading harder
Speaker 1: by three fifty to twelve seventy four, an advance of
Speaker 1: three tenths of one to thirty two on Wall Street.
Speaker 1: Now we'll look at other news from around the world.
Speaker 1: Thank you, Charlie from the Bloomberg News Room. I'm Rami
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Speaker 1: dot net and find the way you drive. Homeland Security
Speaker 1: Secretary j Johnson says there will be long wait times
Speaker 1: for flights this summer, but he says the t s
Speaker 1: A is doing what it can to reduce delays without
Speaker 1: sacrificing security. We have developed a tanpoint plan that will
Speaker 1: keep passengers moving and most importantly, keep passengers safe. Johnson
Speaker 1: says that plan includes more transportation safety officers, more overtime
Speaker 1: pay for those officers, more training and planning with the
Speaker 1: nation's busiest airports. Donald Trump says he is not going
Speaker 1: to publicize his tax returns until an audit of his
Speaker 1: businesses has been completed, but speaking to ABC News, Trump
Speaker 1: said he fights hard to pay the lowest tax rate
Speaker 1: possible because he thinks the government is wasting his money.
Speaker 1: They spent four trillion dollars in the Middle East and
Speaker 1: we can't fix a road or a bridge. And I
Speaker 1: fight very hard. I considered an expense. When ABC's George
Speaker 1: Stephanopolis asked Trump what his tax rate is, the presumptive
Speaker 1: Republican nominee replied, none of your business. And the world's
Speaker 1: oldest per person has died in New York. Susannah Mushad
Speaker 1: Jones was one hundred sixteen years old and died at
Speaker 1: a Brooklyn public housing facility for seniors. Jones was born
Speaker 1: in Alabama in eighteen ninety nine. Her death leaves a
Speaker 1: one hundred sixteen year old woman from Italy as the
Speaker 1: world's oldest person and the last living person born in
Speaker 1: the eighteen hundreds. Global News twenty four hours a day,
Speaker 1: powered by our twenty journalists in more than one hundred
Speaker 1: fifty news bureaus around the world. From the Bloomberg Newsroom,
Speaker 1: I'm Rainy and Essentio Charlie, and we thank you and
Speaker 1: again recapping stocks at or near session, Low's SMP down
Speaker 1: seventeen points to two thousand forty six, a drop of
Speaker 1: eight tenths of one percent. I'm Charlie Palatine. That's a
Speaker 1: bloom Bread business flash. Welcome back to taking On. Kathleen
Speaker 1: Hayes along with PM Fox were broadcasting live from Elbow Beach, Bermuda.
Speaker 1: This is a gorgeous ocean front enclave, classic style, contemporary luxury,
Speaker 1: great food and great drinks, which brings us in a
Speaker 1: certain sense to our very special guest joining us now
Speaker 1: here in Bermuda. Uh the seventh generation to run a
Speaker 1: two d old company, her daughter eighth generation taking over
Speaker 1: as marketing manager. We're talking about Nancy Gosling. She's president
Speaker 1: and CEO of Gosling's group of companies, and her daughter
Speaker 1: Victoria Esposito, who has just taken over in the last
Speaker 1: couple of years as marketing manager for this world renowned
Speaker 1: rum company. Ladies, welcome you both to the show. Thank
Speaker 1: you so. Nancy, first of all, tell people the history
Speaker 1: of this company. You're over two hundred years old. Started
Speaker 1: out when James Gosling to England in eighteen six, honestly
Speaker 1: to America, but stopped Bermuda and started this company. Yes, well,
Speaker 1: he actually started the sailing vessel and they were becalmed
Speaker 1: and the charter round out. They had over ten thousand
Speaker 1: pounds worth of lines and spirits on board then, which
Speaker 1: is a lot of alcohol in eighteen o six. It's
Speaker 1: oh anniversity on to twenty when they landed and uh,
Speaker 1: they found a business here with the British Navy and
Speaker 1: set up shop in St. George's and kind of never
Speaker 1: looked back. Victoria, I wonder if you could comment on this. Uh,
Speaker 1: seems to be a craze almost in the world of
Speaker 1: brown spirits. Everyone seems to want a brown spirit of
Speaker 1: some kind, and those that have it want to maybe
Speaker 1: keep it exclusive. For example, it was the story today
Speaker 1: about brown Form and they make Jack Daniels Tennessee whiskey
Speaker 1: that they may be looking to sell the Finland via
Speaker 1: uh you know brand Have you noticed that because you
Speaker 1: have those different color grazes. Yea, So I mean liquor
Speaker 1: trends always changing, which makes an interesting business. Persis Bermuda
Speaker 1: as a market is interesting because we are so close
Speaker 1: to the States, so we get a lot of those
Speaker 1: trends reflecting here in Bermuda. And we have noticed a
Speaker 1: change to brown spirits in the past two years, which
Speaker 1: is a great thing for our rum because we are
Speaker 1: always trying to keep up with a recent trends. But
Speaker 1: at the same time, the white spirits they continue to
Speaker 1: thrive like they do. But it's really interesting even to
Speaker 1: see a lot of the old fashioned cocktails coming back,
Speaker 1: which go great with our rum and our old rum
Speaker 1: which we always push well. And I I the gosling
Speaker 1: that I first got acquainted with has a very rich,
Speaker 1: almost lacessey kind of flavor. And yes, you have a
Speaker 1: lot of when you've got a lot of the dark
Speaker 1: and stormy. I don't know if a lot of people
Speaker 1: realize that they're pathic formuta, if they don't drink them
Speaker 1: back in the States, that it is a trade mark drink.
Speaker 1: And if you don't use glassing room, somebody's gonna come
Speaker 1: knock it on your door. It's a simple recipe. It's
Speaker 1: Gosling's black Field Rum and ginger beer. Uh the ginger
Speaker 1: beer part isn't trademark, but we now have Gosling's Ginger Beer,
Speaker 1: which is selling very well worldwide at the moment, and
Speaker 1: we design that who goes specifically with our room. It's
Speaker 1: the perfect match for a dark story. But a lot
Speaker 1: of people aren't aware that it is a trademark, So
Speaker 1: we spend a bit of time defending our trademark. But
Speaker 1: it's worth the defense. Can you give us a little
Speaker 1: sort of story about where the sugar cane is grown
Speaker 1: and how it ends up tasting so uh so lovely
Speaker 1: in a in a Gostling concoction. No, alright, those the
Speaker 1: sources and the blending is what makes us unique. But
Speaker 1: I mean people know that that the dark Rum comes
Speaker 1: from sugarcane which goes into molasses which is then aged
Speaker 1: and barrels, and uh, we source from different locations, but
Speaker 1: that's very important to your The proprietary aspect of that
Speaker 1: is something that you hold very close absolutely. How much
Speaker 1: is the trademark on the drink of marketing strategy and
Speaker 1: how and or how important is it that people can
Speaker 1: only use scuffling room in a dark and stormy Technically speaking, anyway,
Speaker 1: it's very important because as the years go on, more
Speaker 1: and more spirits keep being introduced into the market. So
Speaker 1: it's very important for us to defend that certain cocktail,
Speaker 1: especially since, especially on the East Coast of the United States,
Speaker 1: the Dark and Stormy is becoming very well known and
Speaker 1: very popular. So it's important to us to defend that
Speaker 1: and make sure that people know that it is to
Speaker 1: be made with gausing black Seal rum. Now why is
Speaker 1: it called black seal Because when we first started battoling rum,
Speaker 1: it was difficult to obtain bottles and we didn't have
Speaker 1: a sophisticated bottling line or anything like that. We used
Speaker 1: to reuse old champagne bottles. We used to sterilize and
Speaker 1: and that's what we bottled our products in. And we
Speaker 1: had several types of products. They were bottled in old
Speaker 1: champagne bottles and then they were sealed with ceiling wabs,
Speaker 1: and we had a red seal, a blue seal, a
Speaker 1: black seal, and the black Seal rum. That blend was
Speaker 1: the most popular. And when we were finally able to
Speaker 1: obtain bottles and do our own packaging and labeling. It
Speaker 1: was my uncle actually who decided that the black ceiling
Speaker 1: wax should turn into this seal. He made that and
Speaker 1: that's why our old rum is packaged like it is
Speaker 1: now in a Champagne type bottle with ceiling black ceiling
Speaker 1: wax on it. It's it's supposed to replicate the original rum. Well,
Speaker 1: it certainly creates the original feeling. Thank you very much
Speaker 1: for spending time with us. Nancy Goslings, the President, chief
Speaker 1: executive Gosling's Group Companies, and Victoria Esposito, the marketing manager
Speaker 1: of a Gosling's Group of companies. You're listening to Taking
Speaker 1: Stock on Bloomberg Radio. Coming up on our special live
Speaker 1: broadcast from Elbow Beach, Bermuda, the premiere of This Island
Speaker 1: State the Arnago Michael Dunkley on the economy and what's
Speaker 1: driving business now. This is taking Stop