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Speaker 1: I'm Charlie Pellett. Stocks reflector fluctuating. We've got the dowin
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Speaker 1: I'm Charlie Pellett. That's a Bloomberg Business flat. You're listening
Speaker 1: to taking stock with Bim Box and Kathleen Hayes on
Speaker 1: Bloomberg Radio, titened greenhouse gas emission standards fuel economy standards
Speaker 1: that are tighter as well. That's what medium and heavy
Speaker 1: duty trucks are facing now according to new regulations released
Speaker 1: on August sixteenth. It's one of the last major environmental
Speaker 1: regulations under the Obama administration. Watching this very closely. UH
Speaker 1: companies like Caterpillar, Cummins, Diamond Trucks North America, and Volvo
Speaker 1: Group North America here to tell us about the regulation,
Speaker 1: what it's going to do, and what it does mean
Speaker 1: for the businesses that it impacts. As Anthony A. Dragna,
Speaker 1: he's Capitol Hill environmental reporter for Bloomberg bi Na based
Speaker 1: in Arlington, Virginia, and of course Bloomberg Bienna as a
Speaker 1: Holy owned subsidiary Bloomberg, and it's a leading source of legal,
Speaker 1: regulatory and business information for professionals. So Anthony, first of all,
Speaker 1: what is this regulation? How much tighter are the emission
Speaker 1: standards gonna get? So that's regulation builds on several similar
Speaker 1: regulations on the A. Bomb administration, and it's actually a
Speaker 1: bit tighter, about ten percent tighter. Than what was proposed
Speaker 1: by the e p A in the Department of Transportation
Speaker 1: just a year or so ago. So what we're gonna
Speaker 1: see is the whole fleet of vehicles beginning in one
Speaker 1: and through model year seven have to meet these tighter
Speaker 1: emission standards and tighter fuel economy standards. How much is
Speaker 1: this all gonna cost? Do we have any estimates? I
Speaker 1: was looking at some that said that it might cost
Speaker 1: as much as for a semi truck starting in the
Speaker 1: model year. So it's what's interesting is that the trucking associations,
Speaker 1: a lot of the trucking industry groups yesterday said they
Speaker 1: were contiously optimistic, but this was a regulation they could
Speaker 1: work with, they said. Obviously, implementation is going to be key. Now.
Speaker 1: The government of the agencies yesterday said that they project
Speaker 1: that there could be two thirty billion dollars in benefits
Speaker 1: once this program has been fully implemented, and that most
Speaker 1: truck owners could pay off their additional costs of this
Speaker 1: new technologies within two years two to four years, depending
Speaker 1: on the type of truck that they're purchasing. Is that
Speaker 1: likely to happen? Well, I mean, is it? Like I mean,
Speaker 1: you know, projecting future cost savings is one thing. Having
Speaker 1: to shell out current dollars in order to change the
Speaker 1: emissions of your truck or your semi is something else.
Speaker 1: It's it's certainly something that that the agency has heard
Speaker 1: in public comment periods, and they've include a lot of
Speaker 1: flexibility in the proposal designed to adjust to the fact
Speaker 1: that a lot of these manufacturers and companies or small businesses.
Speaker 1: So they're trying to uh find the proper sweet spot,
Speaker 1: I guess between you know, making companies take on these
Speaker 1: additional costs, but also giving them time to meet these
Speaker 1: new tighter emission standards. Um, well, the uh, there's obviously
Speaker 1: a little bit of pushback, but it it seems that
Speaker 1: this is pretty much baked in the cake now. And
Speaker 1: as your story notes, this is the final act like
Speaker 1: this under the Obama administration. Anything pending in Congress. We
Speaker 1: we don't expect a lot of action from Congress and
Speaker 1: what's left of the year. Obviously they do have to
Speaker 1: fund the government, so we'll see what happens there. But
Speaker 1: this is, you know, the abdministration. They've talked spook and
Speaker 1: often about running through the the end line in terms
Speaker 1: of some of these regulatory actions that really these trucks
Speaker 1: standards are one of the last pieces that we expect
Speaker 1: from the President's climate legacy. A lot of the focus
Speaker 1: as well is going to be in the courts and
Speaker 1: defending actions like the Clean Power Plan UM and other
Speaker 1: regulations UM that are being challenged by industry groups. All right,
Speaker 1: I want to thank you very much for joining us,
Speaker 1: Anthony A. Dragna. He is Capitol Hill environmental reporter for
Speaker 1: Bloomberg b NA. Bloomberg b NA offers authoritative coverage and
Speaker 1: spans a full range of legal practice areas including tax
Speaker 1: and accounting, labor and employment, and a variety of other
Speaker 1: business segments. Thank you very much, Anthony. Now let's turn
Speaker 1: our attention to another segment of the economy, and this
Speaker 1: is the political world. Because boy, this certainly spend a
Speaker 1: lot of money on political advertising in this day and age.
Speaker 1: Alex Wayne as White House sedator for Bloomberg joining us
Speaker 1: from Washington, d C. Alex, spending money on advertising is
Speaker 1: not something that the Republicans have been doing well. The
Speaker 1: shake up in the Trump campaign change that we're promised
Speaker 1: ads starting September one, I believe uh, and I think
Speaker 1: you're gonna see him pop up probably in Florida. There
Speaker 1: was an interesting analysis this morning showing that there's just
Speaker 1: a ton of ad spending going on in Florida. It's
Speaker 1: it's the key state in this campaign. So have you
Speaker 1: heard anything about what the ads are going to be like,
Speaker 1: what they're going to target, how they're going to cast Trump?
Speaker 1: Only in the most general sense are our Trump reporter
Speaker 1: Jennifer Jacobs give her a little shot out here? She tweeted,
Speaker 1: the ads will will attack Clinton and boast on Trump. Souff,
Speaker 1: that's pretty much standard campaign advertising. If you were going
Speaker 1: to see an ad on the shakeup in the Trump campaign,
Speaker 1: what would it look like? That's a great question. I
Speaker 1: don't want to give the Clinton the Clinton campaign in
Speaker 1: um too much advice, but I would think they would
Speaker 1: probably highlight a few bright Bart headlines in that ad. Well,
Speaker 1: go ahead, tell people about that. So, so the shake
Speaker 1: up puts uh, the CEO of bright Bart News in
Speaker 1: charge of Trump's campaign. Uh, Stephen b Stephen Banion, He's
Speaker 1: going to be the CEO of the campaign. Now. Bright
Speaker 1: Bart is pretty well known for some uh fairly inflammatory reporting.
Speaker 1: Uh and uh the Danion is is not a guy
Speaker 1: who's afraid of bombasts. So I think this is a
Speaker 1: signal that Trump has no interest in toning toning down
Speaker 1: his act. So would you say, when you see inflammatory reporting,
Speaker 1: what do you mean? Do you mean false? Do you
Speaker 1: mean aggressive? Do you mean very conservative? Which flies in
Speaker 1: the face of you know what other factions want to hear?
Speaker 1: Um always aggressive and in some cases false us an example,
Speaker 1: please sure one of their infamous stories a few years back,
Speaker 1: they published a story where they at an Agriculture Department
Speaker 1: official who happened to be black for supposedly making racist
Speaker 1: comments and a and a speech. They based that attack
Speaker 1: on the video that was misleadingly edited, and when the
Speaker 1: full video came out, it showed that she was actually
Speaker 1: making the opposite point. Then. Uh then bright Bart contended, Uh,
Speaker 1: pretty embarrassing episode for her or for extremety for them,
Speaker 1: but they got her fired. So uh, you know, that's
Speaker 1: a notable episode in their reforestry. I think can you
Speaker 1: give us any detail about the role that Roger Ales,
Speaker 1: former head of Fox News, will play. It's very curious, right. Uh.
Speaker 1: The New York Times reported that he's advising Trump. Trump
Speaker 1: campaign denies it. Uh. We we reported this morning that
Speaker 1: that Trump had pushed or urged excuse me that Ales
Speaker 1: had urged for for for Donald Trump to make these
Speaker 1: changes in the campaign. So his role is awfully unclear.
Speaker 1: It certainly is. Uh. One of the comments I read
Speaker 1: in our story had something them saying something along the
Speaker 1: lines or one of Roger's confidence saying, well, of course
Speaker 1: they've been friends for a long time. He's talking to
Speaker 1: Donald Trump, but he's not formally advising him. Alex, for
Speaker 1: all the years you've covered these kinds of campaigns. If
Speaker 1: whatever role Roger Ales may have, and obviously we know
Speaker 1: the Trump campaign denied it is, and he's still how
Speaker 1: would you expect that to affect the campaign? Because one
Speaker 1: thing you can say for Roger Ailes is in many
Speaker 1: ways he's been very effective at the projects he takes on. Yeah,
Speaker 1: he's a great storyteller. He's you know, he turned Fox
Speaker 1: News into the dominant news organization that it is on
Speaker 1: cable news at least because he knows how to how
Speaker 1: to craft a narrative. Um, I would think that the
Speaker 1: Trump campaign would want to keep some at least plausible
Speaker 1: deniability that he has an official role, because I don't
Speaker 1: think he is an appealing figure to women voters. Tell
Speaker 1: us about Paul Manafort and his connection with the Pro
Speaker 1: Russian party in the Ukraine. Yeah, that's that's a that's
Speaker 1: a really funky story. The New York Times report at
Speaker 1: the beginning of the week that they had seen a
Speaker 1: handwritten ledger obtained or produced by UH, a Ukrainian anti
Speaker 1: corruption agency, showing payments to Paul Manafort in the amount
Speaker 1: of twelve point seven million dollars that apparently he had
Speaker 1: not reported. Um. He denies that those payments ever took place. UM.
Speaker 1: So it's it's it's not it's not clear what was
Speaker 1: going on there. UM and the New York Times story,
Speaker 1: it was a great story, but the lead was interesting.
Speaker 1: They didn't lead by saying Paul Manafort was paid twelve
Speaker 1: point seven million dollars by by the Ukrainian government. They
Speaker 1: kind of backed into the news a little bit. So
Speaker 1: it was, you know, there was they left some question
Speaker 1: there about about what had really happened, because I don't
Speaker 1: think they were absolutely sure themselves. Now there's a story
Speaker 1: today from the Associated Press that UM groups associated with
Speaker 1: Manafort routed about two million dollars and lobbying money from
Speaker 1: Ukraine to a couple of Washington public affairs firms, and
Speaker 1: that the people involved never reported themselves as foreign agents
Speaker 1: working on behalf of the Ukrainian government. Um that could
Speaker 1: be illegal, Uh, it could it could be perfectly legal.
Speaker 1: It's again not clear, but there are there are definitely
Speaker 1: some um some interesting connections between Manaphort and the Ukrainian
Speaker 1: government and by extension, the Russian government. And I can
Speaker 1: only assume that maybe some of Flury Clinton's new ads
Speaker 1: will touch on some of these issues. We shall see.
Speaker 1: Alex Wayne, thank you so very much. Fascinating conversation. He's
Speaker 1: White House editor for Bloomberg, talking to us about the
Speaker 1: staff shake up that Donald Trump's campaign and more. I'm caffeine.
Speaker 1: He's along with him Fox. We're going to be looking
Speaker 1: at Dave Wilson's chart of the day. He's our stock seditor.
Speaker 1: This is taking Stock. We're also going to be talking
Speaker 1: about the f form C minutes. This is Bloomberg.