WEBVTT - GM and Stellantis Facing more UAW Walkouts 0:00:01.360 --> 0:00:05.680 This is Bloomberg Business Wait inside from the reporters and 0:00:05.880 --> 0:00:09.440 editors who bring you America's most trusted business magazine, plus 0:00:09.520 --> 0:00:13.680 global business finance and tech news. The Bloomberg Business Week 0:00:13.720 --> 0:00:19.000 podcast with Carol Messer and Tim Stenebeck from Bloomberg Radio. 0:00:20.040 --> 0:00:22.599 And one story that has definitely continued to evolve this week, 0:00:22.640 --> 0:00:26.160 including on this Friday, is a strike by UAW workers 0:00:26.160 --> 0:00:29.240 out in Detroit. Today an update, we've got GM and Stilantis, 0:00:29.280 --> 0:00:32.400 which owns Chrysler, facing some walkouts at a lot more 0:00:32.440 --> 0:00:35.360 facilities as talks with their workers union failed to make headway, 0:00:35.440 --> 0:00:38.760 while Ford was spared the escalation after making progress and 0:00:39.000 --> 0:00:42.440 its negotiations of checking my headlines to make sure I 0:00:42.440 --> 0:00:45.239 haven't missed anything, Let's get to it and let's get 0:00:45.280 --> 0:00:47.159 the latest. Because she is front and center on all 0:00:47.200 --> 0:00:49.920 of this. Bloomberg News Auto reporter Gabby Coppola on the 0:00:49.920 --> 0:00:52.520 phone in Detroit. Diana Lee also with US co founder 0:00:52.560 --> 0:00:56.080 and CEO at Constellation. She's here in a Bloomberg Interactive 0:00:56.120 --> 0:00:59.600 Brokers studio. Her company is a marketing platform for the 0:00:59.600 --> 0:01:02.960 automo of industries, so they help dealerships reach out to customers. 0:01:03.360 --> 0:01:05.480 It's a SaaS company. We'll get into it in just 0:01:05.720 --> 0:01:08.039 a moment. First of though, Gabby, I do want to 0:01:08.120 --> 0:01:11.080 get to you. I can't imagine what your life is 0:01:11.160 --> 0:01:13.920 like and how long your days are. But tell us 0:01:13.959 --> 0:01:15.399 what's the latest on the strike out? 0:01:15.440 --> 0:01:15.560 There? 0:01:15.640 --> 0:01:18.000 Did Troy and give us some color of what it's 0:01:18.080 --> 0:01:18.880 like on the ground. 0:01:20.120 --> 0:01:22.560 Yeah, well I think he did a pretty good summary, 0:01:22.840 --> 0:01:26.200 Carol today. You know, earlier this morning, at around ten 0:01:26.200 --> 0:01:29.800 o'clock this morning, UAW President Sean Fain said that he 0:01:29.840 --> 0:01:34.600 would expand the strike to the parts distribution plants of 0:01:34.720 --> 0:01:37.560 GM and Stiland It. So that's thirty eight different facilities 0:01:37.560 --> 0:01:40.160 across the country. And what we're talking about here is, 0:01:40.520 --> 0:01:45.240 you know, basically the aftermarket parts, you know, whatever you 0:01:45.240 --> 0:01:47.640 need to fix your car. You know, Silantis has a 0:01:47.840 --> 0:01:51.880 network of ten mopar parts of you know facilities across 0:01:51.880 --> 0:01:55.400 the country. Those people are now walking out on strike. 0:01:55.520 --> 0:01:58.920 So while the first uh set of the first you know, 0:01:58.960 --> 0:02:02.200 the first week was target that just some three key products, 0:02:02.200 --> 0:02:04.800 you know, the Ford, Bronco, the jeep wrangler of the 0:02:04.880 --> 0:02:09.840 Chevy Colorado. Those are a profitable, you know, very appealing products, 0:02:09.840 --> 0:02:12.440 but they are not that is not like putting a 0:02:12.480 --> 0:02:14.160 steak in the heart if you really want to hurt 0:02:14.160 --> 0:02:16.320 the automakers and go after the pickup trucks, the F 0:02:16.320 --> 0:02:19.600 one fifty, you know, the Ram fifteen hundred, the Chevy Silverado, 0:02:19.680 --> 0:02:22.600 and the UAW has not gone there. So well, the 0:02:22.639 --> 0:02:25.640 first time was like, you know, we're gonna hurt you 0:02:25.680 --> 0:02:27.639 a little bit. And that's why I thought you saw 0:02:27.720 --> 0:02:30.040 Wall Street not like losing your mind over this because 0:02:30.040 --> 0:02:32.600 it's okay, the truck's okay. But now they're going for 0:02:34.000 --> 0:02:37.239 things that will affect the automaker's relationship with their customers. 0:02:37.240 --> 0:02:40.760 That you know, uh if one you know former Salantis 0:02:40.880 --> 0:02:43.480 or Chrisler executive put it to me today, the plants 0:02:43.919 --> 0:02:46.800 when they strike the plants, that affects future customers. You know, 0:02:46.840 --> 0:02:48.519 if you want to go buy a car, that car 0:02:48.560 --> 0:02:50.639 may not be available, and you know, if this will 0:02:50.720 --> 0:02:51.560 drag gone longer. 0:02:51.600 --> 0:02:52.720 But with the parts. 0:02:52.360 --> 0:02:56.200 Thing, you are affecting existing customers because they won't be 0:02:56.200 --> 0:02:57.920 able to get the things they want, you know, to 0:02:57.960 --> 0:02:59.760 make their car runs. And you didn't make the cargo. 0:03:00.240 --> 0:03:02.560 Well, so let's get to you, Diana, because you deal 0:03:02.639 --> 0:03:06.120 with the dealerships, that's your customer base who deal with 0:03:06.160 --> 0:03:11.080 the customers. So how are you viewing this and what 0:03:11.120 --> 0:03:14.000 are you hearing from those dealerships and what's kind of 0:03:14.000 --> 0:03:16.280 top of mind as you see this strike play out? 0:03:16.520 --> 0:03:19.959 Yees, So thank you Carol and Gay and Gabby really 0:03:20.000 --> 0:03:23.919 well said. My biggest concern is we're not really talking 0:03:23.960 --> 0:03:26.320 about how it's affecting consumers right now. 0:03:26.800 --> 0:03:28.880 So is it really affecting consumers yet? 0:03:28.919 --> 0:03:32.440 Though not yet, but very soon it will be because 0:03:32.760 --> 0:03:38.040 now we're talking over five thousand employees walking out on 0:03:38.240 --> 0:03:43.720 Stilantis and General Motors parts distribution centers. So what does 0:03:43.720 --> 0:03:48.880 that basically mean? Anybody that needs OEM parts for Stilantis 0:03:49.720 --> 0:03:52.760 or driving a General Motors vehicle that will go to 0:03:52.800 --> 0:03:55.680 a car dealership to get a repair is now in 0:03:55.760 --> 0:04:00.400 jeopardy of not being able to have that repair right now. 0:04:00.720 --> 0:04:03.360 The biggest issues that I'm seeing right now is if 0:04:03.400 --> 0:04:07.520 you can actually have an accident or your car breaks 0:04:07.560 --> 0:04:10.360 down and you need an OEM part, and you make 0:04:10.360 --> 0:04:15.480 a service department scheduling or appointment, you show up, and 0:04:15.520 --> 0:04:18.120 now you have to actually wait for the car to 0:04:18.160 --> 0:04:21.480 get repaired. If the repair can't be done because there 0:04:21.520 --> 0:04:24.320 are no parts, then basically you may have to get 0:04:24.360 --> 0:04:27.040 a rental car. But that rental car is also affected 0:04:27.480 --> 0:04:31.920 because obviously if they're renting Stilantis or General Motors vehicles, 0:04:32.320 --> 0:04:35.080 they will not be able to repair those vehicles as well. 0:04:35.480 --> 0:04:38.279 So the other part that I think we're also not 0:04:38.400 --> 0:04:42.240 talking about is technicians. You don't need technicians or even 0:04:42.440 --> 0:04:46.520 parts people within a dealership if you can't get the 0:04:46.560 --> 0:04:48.080 OEM parts into the view. 0:04:48.080 --> 0:04:49.920 So the longer it goes on, they could potentially either 0:04:49.920 --> 0:04:51.800 be letting some of those go or something's going. 0:04:51.800 --> 0:04:56.839 To maybe break exactly. And also for dealerships, the profitability 0:04:57.080 --> 0:05:00.440 is usually in service and parts. Right, one hundred percent 0:05:00.440 --> 0:05:04.280 of their absorption rate is usually covered by the service department, 0:05:04.640 --> 0:05:09.760 so it will affect parts and service profitability, dealership profitability. 0:05:09.800 --> 0:05:12.200 They may shut down the service and parts center because 0:05:12.240 --> 0:05:15.640 they can't actually employ people if the parts aren't there. 0:05:15.680 --> 0:05:18.479 Well, this just gets to duration, right, all of these 0:05:18.520 --> 0:05:20.240 things that we're concerned about, whether or not we get 0:05:20.279 --> 0:05:22.080 to a soft landing or the FED gets to its 0:05:22.120 --> 0:05:25.400 soft landing, is the duration of like the UAW strike 0:05:25.480 --> 0:05:26.640 for example. 0:05:26.360 --> 0:05:28.600 Right, and what that could mean for the economy and 0:05:28.720 --> 0:05:31.839 how the growth projections for the fourth quarter could be 0:05:31.839 --> 0:05:34.000 impacted by that. Gabby, I wanted to bring you back 0:05:34.040 --> 0:05:36.120 in this conversation, why is it that when we're looking 0:05:36.160 --> 0:05:39.520 at GM and stilliantis those facing more walkouts whereas when 0:05:39.560 --> 0:05:42.600 it comes to Ford, why is that being spared more so? 0:05:44.200 --> 0:05:48.040 Yeah, Well, because Ford gave the union a lot of 0:05:48.279 --> 0:05:50.719 the key things they were asking for, they've agreed to them, 0:05:50.800 --> 0:05:53.160 and it's important to keep in mind, you know, Ford 0:05:53.279 --> 0:05:57.720 historically has had a warmer relations with the UAW than 0:05:57.800 --> 0:06:01.479 GM or Stillances. They already say that they spend about 0:06:01.480 --> 0:06:05.200 a billion dollars a year more than than the JAM 0:06:05.279 --> 0:06:07.120 or stlant Is on labor, and part of that is 0:06:07.160 --> 0:06:10.600 because they have fewer temporary workers. So that is a 0:06:10.800 --> 0:06:13.000 you know, so in a way, you know, the temporary workers, 0:06:13.000 --> 0:06:15.120 there's a big difference in pay between If you're a 0:06:15.120 --> 0:06:17.480 temp worker, you don't get profit sharing. You start out 0:06:17.480 --> 0:06:20.320 at around fifteen seventy eight or sixteen dollars an hour 0:06:20.360 --> 0:06:22.720 and you top out around twenty. But if you're a 0:06:22.760 --> 0:06:26.080 full time worker, you start, I believe around eighteen and 0:06:26.120 --> 0:06:28.120 you can in the topway to thirty two. So there's 0:06:28.120 --> 0:06:31.680 a big difference in cost there, and Ford is already 0:06:31.680 --> 0:06:34.159 paying those people. They have more, you know, employee, they 0:06:34.200 --> 0:06:36.600 have more workers in the United States than GM or Flantis. 0:06:36.600 --> 0:06:39.760 So they but so in a way it's less painful 0:06:39.760 --> 0:06:41.840 for them. This is this would be making Ford and 0:06:41.920 --> 0:06:45.039 Flint just raise their costs, you know, in jandem with 0:06:45.080 --> 0:06:46.800 to match what Ford has already been doing. So it 0:06:46.839 --> 0:06:51.640 actually help board. And but also Ford said, you know, 0:06:51.680 --> 0:06:55.120 they're going to give Temps profit sharing after ninety days. 0:06:55.160 --> 0:06:58.640 They agreed to COLA, which is the cost of living allowance. 0:06:58.680 --> 0:07:00.480 This is something that the union gave up in two 0:07:00.520 --> 0:07:02.840 thousand and nine. And the workers on the line are 0:07:02.960 --> 0:07:06.280 very yeah, you know, determined to get that back. And 0:07:06.440 --> 0:07:08.160 if I could just say, you know, Carol, I think 0:07:08.160 --> 0:07:09.880 you ask to all, what's it like on the picket line. 0:07:09.920 --> 0:07:12.080 So I this week I drove down, you know, about 0:07:12.080 --> 0:07:14.680 forty five minutes to Toledo, Ohio, to go visit the 0:07:14.720 --> 0:07:19.720 people picketing outside the Jeep Wrangler assembly plant. And you know, 0:07:20.040 --> 0:07:22.120 one of the things I was struck by was absolutely 0:07:22.160 --> 0:07:25.600 people feel the pinch on inflation, you know, And so 0:07:26.000 --> 0:07:28.120 even if it's you know, you could argue, well you've 0:07:28.160 --> 0:07:30.040 got more money and profit sharing than you did from 0:07:30.040 --> 0:07:32.240 if we had given you inflation protection, it doesn't matter. 0:07:32.320 --> 0:07:35.680 People want things that are guaranteed. You know, they don't 0:07:35.760 --> 0:07:37.800 like leaving things to the whims of the market. That's 0:07:37.840 --> 0:07:39.640 how they feel. They want security. 0:07:40.120 --> 0:07:42.560 I totally get it, Diana. I want to ask you, 0:07:42.560 --> 0:07:45.240 though the model is changing. Elon Musk showed us that does. 0:07:45.240 --> 0:07:48.040 The industry and workers have to continue to acknowledge that, 0:07:48.120 --> 0:07:51.080 and that means some jobs will not be needed because 0:07:51.600 --> 0:07:56.520 you know, if once again you strangle the companies with 0:07:56.680 --> 0:08:00.480 higher costs, a lot of higher costs in this transitional period, 0:08:01.000 --> 0:08:04.160 you know, you could be seeing troubles for the industry overall. 0:08:04.200 --> 0:08:06.360 At the same time, I am for workers being paid 0:08:06.360 --> 0:08:09.440 what they are worth. But just got about thirty seconds here, Yes, 0:08:09.480 --> 0:08:13.560 and I think SADDI for dealerships dealerships Elon must doesn't exactly. 0:08:13.720 --> 0:08:17.200 So there are many direct to consumer models that are 0:08:17.280 --> 0:08:20.560 evy that's coming out right now, which is competing after 0:08:20.920 --> 0:08:23.440 the franchise markets. But at the end of the day, 0:08:23.480 --> 0:08:27.280 we continue to actually ignore the fact that franchise markets 0:08:27.280 --> 0:08:32.080 have done a lot for internal communities. Right during COVID, 0:08:32.160 --> 0:08:34.920 they were the ones that were there that actually distributed 0:08:35.080 --> 0:08:38.360 foods to their communities. They're also the ones that you know, 0:08:38.920 --> 0:08:42.080 raise money for the little leads and everybody within those areas, 0:08:42.360 --> 0:08:46.040 and these family units have run these businesses for fifty years. 0:08:46.040 --> 0:08:48.280 But some would argue straight to consumer, right, We're in 0:08:48.320 --> 0:08:49.679 a direct to consumer. 0:08:49.320 --> 0:08:52.120 World, absolutely, and I just feel like at this point 0:08:52.200 --> 0:08:55.200 in time, there just needs to be different types of 0:08:55.240 --> 0:08:57.960 flexible models for all different types of consumers. 0:08:58.280 --> 0:09:00.440 Gabby five seconds. Should we look for head lines over 0:09:00.480 --> 0:09:01.960 the weekend? Yes? 0:09:02.200 --> 0:09:02.960 I think you should. 0:09:03.000 --> 0:09:06.559 Okay, all right, so appreciate it. Bloomberg News Auto reporter 0:09:06.600 --> 0:09:09.120 Gabby Coppola out there in Detroit. Dana Lee, co founder 0:09:09.120 --> 0:09:12.599 and CEO Constellation. Here in our studio, you're listening. 0:09:12.240 --> 0:09:15.920 To the Bloomberg Business Week podcast. Catch us live weekday 0:09:15.920 --> 0:09:19.760 afternoons from three to six Eastern Listen on Bloomberg dot com, 0:09:19.840 --> 0:09:23.240 the iHeartRadio app, and the Bloomberg Business app, or watch 0:09:23.320 --> 0:09:24.600 us live on YouTube. 0:09:25.800 --> 0:09:27.720 You know, Jess, it's been a little crazy in and 0:09:27.720 --> 0:09:29.560 around New York. Are trying to do something this morning, 0:09:29.559 --> 0:09:31.760 and it was like a whole block. It's it's just 0:09:31.760 --> 0:09:36.280 can't get into buildings, you can't get in. There's barricades everywhere. Right, 0:09:36.440 --> 0:09:39.160 It's well tough. It's been the you and general assembly. 0:09:39.520 --> 0:09:42.520 It ain't over yet, but we've also had going on 0:09:42.800 --> 0:09:46.400 New York Climate Week against the backdrop of Angas, so 0:09:46.679 --> 0:09:48.680 we've talked to a lot of voices involved in cutting 0:09:48.679 --> 0:09:51.920 carbon and improving our climate. Our next guest working to 0:09:51.960 --> 0:09:54.760 help others do exactly just that, So back with us 0:09:54.840 --> 0:09:59.080 is Louisa Lewis. She's founder and CEO of New Climate Culture. 0:09:59.080 --> 0:10:03.120 It's a biodiversity tank. They're basically focused on delivering climate 0:10:03.320 --> 0:10:07.119 solutions to communities and industries around the world while influencing 0:10:07.160 --> 0:10:10.000 international policy goals. So really coming at the intersection of 0:10:10.000 --> 0:10:13.559 all of this. She is on Montreal or she's in Montreal, 0:10:13.640 --> 0:10:15.959 I should say where we find her on Zoom and Luisa, 0:10:16.080 --> 0:10:19.040 good to have you here with Jess and myself. Great 0:10:19.080 --> 0:10:21.760 to see you again. How doest year on record? Mother 0:10:21.920 --> 0:10:25.080 Nature clearly showing us how things have changed, and we 0:10:25.120 --> 0:10:27.199 are definitely seeing the impact of it all. From your 0:10:27.240 --> 0:10:30.000 advantage point, though, how is the world doing when it 0:10:30.040 --> 0:10:33.600 comes to climate solutions, the adoption of those climate solutions 0:10:33.640 --> 0:10:36.839 and then really having an impact in making our climate better? 0:10:38.600 --> 0:10:41.160 Thank you so much for having me on and asking 0:10:41.280 --> 0:10:45.000 this question. I can see progress, is what I can say. 0:10:45.000 --> 0:10:47.880 And when I see progress, it's great because that's exactly 0:10:47.920 --> 0:10:49.880 what we have to do. We have to point to 0:10:49.920 --> 0:10:54.640 those examples of what's working. For example, I'm seeing cities 0:10:55.200 --> 0:10:59.679 all over the world, including in Montreal, that do things like, 0:10:59.720 --> 0:11:01.839 for example, in the summer, they shut down portions of 0:11:01.880 --> 0:11:05.880 their streets so that there's pedestrian walkways, installing gardens and 0:11:05.920 --> 0:11:10.120 planting more trees all over the city. The importance of 0:11:10.160 --> 0:11:15.040 that really just can't be underestimated because creating more pathways 0:11:15.040 --> 0:11:19.080 for pedestrians to move creatively outside of automobiles, outside of 0:11:19.720 --> 0:11:26.120 fossil fuel dependent automobiles specifically, is amazing and provides just 0:11:26.160 --> 0:11:30.960 more creativity, more movement in the city. I also see 0:11:31.440 --> 0:11:35.400 the influence of having gardens and planting more trees. That 0:11:35.440 --> 0:11:38.440 type of activity, especially female trees, having a good balance 0:11:38.480 --> 0:11:42.040 of male female trees, is really what's going to help. 0:11:42.640 --> 0:11:45.000 What does that? I think there's people like, what do 0:11:45.000 --> 0:11:46.920 you mean? I didn't even know what do you mean 0:11:46.960 --> 0:11:47.280 by that? 0:11:48.760 --> 0:11:52.880 Yes, So one of the big problems that has happened 0:11:53.360 --> 0:11:56.440 across different different parts of the world, but definitely in 0:11:56.559 --> 0:12:02.120 the United States with landscape design and municipal planning is that, Yeah, 0:12:02.200 --> 0:12:04.920 like a lot of people don't know enough about the 0:12:04.960 --> 0:12:07.920 biology of what they're planting. So maybe like their client 0:12:08.040 --> 0:12:10.920 asks them for I want this kind of tree, I 0:12:10.920 --> 0:12:14.640 want this cypress tree from Greece, and they're not really 0:12:14.720 --> 0:12:17.520 choosing like the right tree for the right climate. And 0:12:17.679 --> 0:12:20.880 they're also not choosing female trees or a balance of 0:12:20.880 --> 0:12:24.720 male and female trees. So male trees are producing pollen 0:12:25.200 --> 0:12:28.360 and female trees are producing fruit and nuts. And the 0:12:28.400 --> 0:12:30.920 reason why that distinction is really important is because if 0:12:30.960 --> 0:12:33.199 we have a city full of male trees, which you know, 0:12:33.240 --> 0:12:36.400 anyone can walk around and observe during throughout the year, 0:12:36.440 --> 0:12:40.520 how the trees behave if the tree if they're all male, 0:12:40.640 --> 0:12:43.680 then we're gonna have, yeah, all this pollen problems, allergy problems. 0:12:43.720 --> 0:12:46.000 We're gonna have to go buy allergy medicine to take 0:12:46.040 --> 0:12:50.200 care of just the overcrowded airways. That's uh, that's a 0:12:50.320 --> 0:12:54.120 product of this type of environmental choice that we're making 0:12:54.200 --> 0:12:56.920 with with our cities, right. And if we have more 0:12:57.000 --> 0:13:00.480 female trees, then we have not only you know, food 0:13:00.559 --> 0:13:04.400 for the birds, the insects, squirrels, any wildlife that is 0:13:04.760 --> 0:13:07.840 coming through the city or around the city, seagulls, whatever, 0:13:07.960 --> 0:13:10.480 depending on where you are in the world. 0:13:11.679 --> 0:13:12.840 But you're all for it. 0:13:12.880 --> 0:13:16.360 Also for mushrooms are going to eat that fruit and 0:13:16.480 --> 0:13:19.200 nuts that have fall into the ground. But so that's 0:13:19.240 --> 0:13:21.520 going to build top soil that's going to feed the 0:13:22.040 --> 0:13:27.200 environment and ecostem, maintaining biodiversity, maintaining all the community of 0:13:27.240 --> 0:13:28.640 the ecostem that we need. 0:13:28.880 --> 0:13:30.480 But can I jump in for a minute, because it's 0:13:30.480 --> 0:13:33.160 got to be more than just planting green plants, right 0:13:33.559 --> 0:13:35.400 forgive me, But I mean there's a lot of companies 0:13:35.400 --> 0:13:39.160 out there that are making things, doing things I'm curious about. 0:13:39.280 --> 0:13:41.360 You know, what are the companies that you might be 0:13:41.400 --> 0:13:44.479 working with or you know where you're seeing some significant 0:13:45.200 --> 0:13:48.040 changes there. We talked, you know, with a guest yesterday 0:13:48.080 --> 0:13:53.199 about the agricultural environment and what's going on in California 0:13:53.200 --> 0:13:56.400 in terms of rules and policies, so making kind of 0:13:56.400 --> 0:13:59.080 the supply chain. If you basically do anything in California, 0:13:59.160 --> 0:14:01.000 you know you're going to have to step up and 0:14:01.040 --> 0:14:03.680 meet certain rules and regulations and that's going to make 0:14:04.120 --> 0:14:08.040 for greener farming, which we know really can have a 0:14:08.040 --> 0:14:09.800 negative impact on the climate if not done in the 0:14:09.840 --> 0:14:10.200 right way. 0:14:11.760 --> 0:14:14.120 Yeah, so's I mean, that's something I've been talking about 0:14:14.160 --> 0:14:16.960 all year on my interviews. If anyone looks looks that 0:14:17.080 --> 0:14:20.760 up online, especially with regards to the hemp and cannabis industry, 0:14:21.000 --> 0:14:23.480 We've been teaching how to do the most sustainable practices 0:14:23.520 --> 0:14:27.360 in farming policy across the whole US. Because my flagship 0:14:27.760 --> 0:14:29.800 farm that I work with and that I'm partnered with 0:14:29.960 --> 0:14:34.440 is in Connecticut and it's a USD certified organic hemp farm, 0:14:35.240 --> 0:14:37.880 and so and hemp is really important because not only 0:14:37.960 --> 0:14:40.720 is it good for materials and industrial materials, and it's 0:14:41.000 --> 0:14:44.720 highly renewable, it grows faster, it's more sustainable, it it 0:14:44.800 --> 0:14:48.160 seclusters carbon really quickly. It's better than using like a 0:14:48.200 --> 0:14:51.560 tree or another type of plant in nine out of 0:14:51.600 --> 0:14:55.640 ten cases. But it's also really good at taking heavy 0:14:55.640 --> 0:14:58.160 metals and toxins out of the soil, which makes like 0:14:58.720 --> 0:15:01.320 a toxic waste site that had plllutants in it. It 0:15:01.360 --> 0:15:03.320 can clean that up in a couple of seasons so 0:15:03.320 --> 0:15:05.480 that you could actually form food in that soil after 0:15:05.520 --> 0:15:08.880 a disaster. But yeah, we are seeing. 0:15:09.120 --> 0:15:13.400 Changes, and I think that another exciting like focus that 0:15:13.440 --> 0:15:15.640 people need to hear about in terms of investment and 0:15:16.080 --> 0:15:20.080 supply chain is the idea of there's two really critical 0:15:20.240 --> 0:15:23.800 supply chains that need the world's focus, and one of 0:15:23.840 --> 0:15:25.000 them is being. 0:15:25.720 --> 0:15:30.400 The marine conservancy through help reforestation, through working within vertebrates 0:15:30.440 --> 0:15:33.320 and kelp specifically. So there are farmers out there, like 0:15:33.400 --> 0:15:36.600 ones that I'm partnered with with my company, who are 0:15:36.920 --> 0:15:41.320 showing and demonstrating that we can have these help forests grow, 0:15:41.400 --> 0:15:43.520 and Okay, this is what's cool. So not only going 0:15:43.560 --> 0:15:46.880 to create agricultural feed with help, it's also human food, 0:15:46.880 --> 0:15:50.120 it's also food for the entire marine ecosystem. And further 0:15:50.280 --> 0:15:53.200 to boot, Okay, yes, it's Questrian carbons. It's cooling down 0:15:53.240 --> 0:15:56.840 our atmosphere while it's growing, right, But not only that, 0:15:57.000 --> 0:16:01.240 it's going to help mitigate hurricanes, which means these help 0:16:01.320 --> 0:16:05.160 forests are slowing down and helping reduce the impact of 0:16:05.440 --> 0:16:06.400 So I don't. 0:16:07.440 --> 0:16:10.360 Hurricanes, right, No, no, no, I totally get all of this. 0:16:10.480 --> 0:16:12.520 So I guess what I'm and we've only got about 0:16:12.560 --> 0:16:16.240 a minute left here, is Luisa, what is it that 0:16:16.480 --> 0:16:19.600 companies that you are seeing or working with that are 0:16:19.640 --> 0:16:23.040 doing things, whether it's in fashion, whether it's in architecture, 0:16:23.120 --> 0:16:25.960 doing stuff that really helps move the needle, Like, I 0:16:26.240 --> 0:16:28.320 don't disagree, and I think most of those folks who 0:16:28.320 --> 0:16:30.680 are listening or watching right now, don't disagree with all 0:16:30.680 --> 0:16:33.880 the good stuff you're talking about, but who's actually moving 0:16:33.880 --> 0:16:36.920 the needle when it comes to reducing the carbon footprint? 0:16:36.960 --> 0:16:40.280 And just got about thirty seconds left. 0:16:41.080 --> 0:16:43.600 I think that I'm moving the needle, and my partners 0:16:43.640 --> 0:16:46.240 are in this business. Start moving the needle. So that 0:16:46.280 --> 0:16:48.480 would be you know, new climate culture, that would be 0:16:49.160 --> 0:16:52.600 the climate Foundation, that would be Sound Ocean Science, who's 0:16:52.600 --> 0:16:58.200 regrowing coral reefs, farming coral reefs, and anyone who's af 0:16:58.240 --> 0:17:03.880 feelated a CEBG guru as another company. There's just a lot. 0:17:03.920 --> 0:17:08.080 And I'm taking on hotel clients right now specifically, so 0:17:08.119 --> 0:17:10.359 that's going to be the focus of the next quarter 0:17:10.440 --> 0:17:13.120 for me, is a couple of hotel clients in two 0:17:13.119 --> 0:17:15.800 coastal regions in the US. And so what I can 0:17:15.800 --> 0:17:17.879 say is that the people who move from the needle 0:17:17.920 --> 0:17:22.040 are the people who have the most ability to range 0:17:22.080 --> 0:17:24.480 over all of the complexity, because there's a lot of 0:17:24.520 --> 0:17:26.720 moving parts, and if you're not able to come in 0:17:27.240 --> 0:17:31.560 and manage all the different intersections of where there's transportation, 0:17:31.720 --> 0:17:33.800 there's waste production and Luisa, we have. 0:17:33.840 --> 0:17:36.160 To run operation because if I don't go the computer 0:17:36.240 --> 0:17:36.639 is going to go. 0:17:36.720 --> 0:17:37.160 Be well. 0:17:37.160 --> 0:17:41.200 Take care a Luisa Lewis. She is of new climate Culture. 0:17:43.840 --> 0:17:47.400 You're listening to the Bloomberg Business Week podcast. Catch us 0:17:47.440 --> 0:17:51.440 live weekday afternoons from three to six Eastern on Bloomberg Radio, 0:17:51.640 --> 0:17:54.920 the Bloomberg Business App, and YouTube. You can also listen 0:17:55.040 --> 0:17:58.120 live on Amazon Alexa from our flagship New York station 0:17:58.600 --> 0:18:12.720 Just Say Alexa playing Bloomberg eleven. 0:18:12.960 --> 0:18:16.960 All right, everybody, Maybe it's the money, must be the money. 0:18:17.040 --> 0:18:19.600 Maybe it's just seeing what else Dion Sanders can do. 0:18:19.680 --> 0:18:20.800 That is him rapping? 0:18:21.240 --> 0:18:21.800 Who knew? 0:18:22.240 --> 0:18:23.880 Of course, he's better known for being the only man 0:18:23.880 --> 0:18:25.919 to play in both the Super Bowl and the World Series, 0:18:25.960 --> 0:18:29.000 and for being so shy kid I kid, and now 0:18:29.040 --> 0:18:32.000 coach Prime is writing the new Playbook of college football. 0:18:32.000 --> 0:18:34.040 I love every time he's in front of a camera. 0:18:34.119 --> 0:18:34.760 I gotta say. 0:18:35.320 --> 0:18:37.639 This is a feature story in the new issue of 0:18:37.640 --> 0:18:40.720 Bloomberg BusinessWeek. It's now on newstands, online at Bloomberg dot com, 0:18:40.760 --> 0:18:43.160 slash BusinessWeek, and now on the Bloomberg We're gonna play 0:18:43.160 --> 0:18:45.119 a little bit more of Dion Sanders, I promise. On 0:18:45.160 --> 0:18:47.800 the way out with us is Randall Williams Bloomberg News 0:18:47.880 --> 0:18:50.399 US Sports business reporter, along with the editor of Bloomberg 0:18:50.400 --> 0:18:52.920 Business Week, Joel Webber, both here in our Bloomberg Interactive 0:18:52.920 --> 0:18:55.520 Broker studio. What can't Dion do, Joel? 0:18:56.640 --> 0:18:59.960 There's probably something but in college football don't. 0:19:00.000 --> 0:19:00.679 I don't know if. 0:19:00.560 --> 0:19:03.919 We've discovered that yet. But you know, big test this weekend. 0:19:04.080 --> 0:19:08.520 So what ultimately we wanted to talk about here? And Randall, 0:19:09.160 --> 0:19:11.640 who is the lead byline in this along with Ira 0:19:11.720 --> 0:19:15.200 budwe uh, really did a marvelous. 0:19:14.800 --> 0:19:16.480 Job nailing this one. 0:19:16.920 --> 0:19:20.480 What ultimately we're talking about here is a new coach 0:19:20.600 --> 0:19:22.720 at the University of Colorado. If you haven't been paying 0:19:22.760 --> 0:19:25.800 attention to college football, I don't know where you've been, 0:19:25.880 --> 0:19:28.200 because this has been a muss Musty TV. 0:19:28.920 --> 0:19:29.320 Uh. 0:19:29.760 --> 0:19:33.200 No one in college football has, as we write in 0:19:34.160 --> 0:19:36.840 the deck, harnessed the power of social media. The n 0:19:36.880 --> 0:19:40.240 C doua a transfer portal, portal and his own celebrity. 0:19:40.480 --> 0:19:43.320 They took Colorado And obviously we're only a couple of 0:19:43.320 --> 0:19:45.800 games into the season. This this school has gone from 0:19:45.800 --> 0:19:49.679 being a perennial loser to Musty TV. There are so 0:19:49.960 --> 0:19:55.720 many millions, billions of dollars Matt Steak that they're there, 0:19:56.000 --> 0:20:00.800 that college football is able to influence, that economics of 0:20:00.840 --> 0:20:05.919 college football are amazing. And along comes Dion who transfers 0:20:06.080 --> 0:20:09.640 into Colorado and has put Colorado on the map, and 0:20:10.000 --> 0:20:13.920 it really encapsulates how all of these changes in college football, 0:20:15.119 --> 0:20:17.320 no one has been able to leverage it quite like 0:20:17.400 --> 0:20:19.920 Dion and make it look at this much fun. That's 0:20:20.000 --> 0:20:23.400 pretty So random went to Colorado and got to watch again. 0:20:23.480 --> 0:20:26.040 What struck you about what he's building. 0:20:26.320 --> 0:20:29.520 So there's a show called Coach Prime coming out, and there's 0:20:29.520 --> 0:20:33.359 an obviously the glitz and glamour, Oh the glitz and glamor, 0:20:33.440 --> 0:20:35.760 but none of it is for show. When you're around him, 0:20:36.000 --> 0:20:38.760 it is all truly authentic to who he is. There 0:20:38.880 --> 0:20:41.800 is no oh, turn it on, turn it off. Coach 0:20:41.880 --> 0:20:44.840 Prime is Coach Prime. The quotes are not fake. He 0:20:44.920 --> 0:20:47.200 does not like write it down. There is no paper. 0:20:47.320 --> 0:20:49.840 Everything that he says on the spot is truly off 0:20:49.880 --> 0:20:50.600 the top of his head. 0:20:50.920 --> 0:20:52.760 Is he just the right guy at the right place? 0:20:52.800 --> 0:20:55.520 And I'm thinking about Nil and I'm thinking about just 0:20:55.560 --> 0:20:58.359 some of the changes that have happened with college athletes. 0:20:58.760 --> 0:21:01.119 That he is just so one who gets it and 0:21:01.320 --> 0:21:03.520