Speaker 1: Broadcasting live to New York, Bloomberg eleven, Brio to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg twelve d to San Francisco,
Speaker 1: Bloomberg nine to the country Suis Exam Channel one nineteen,
Speaker 1: and around the globe the Bloomberg Radio Plus athen Boomberg
Speaker 1: dot com. This is taking Stock, taking Stock live in
Speaker 1: the US Tennis Open here in Flushing Meadows, Crown Up Park,
Speaker 1: Queen's New York On Kathleen Hayes, my co host, Pim
Speaker 1: Fox on vacation. He'll be back Tuesday after the long weekend.
Speaker 1: This long weekend, I certainly hope to spend a lot
Speaker 1: of time here at the Open watching a ton of tennis.
Speaker 1: I don't know if I'll get into a luxury box.
Speaker 1: I have been on occasion. They are absolutely beautiful. We're
Speaker 1: gonna take a look at the luxury boxes and the
Speaker 1: part they've played in this big, big renovation. You think
Speaker 1: we're modeling your home is a big deal. Well, they've
Speaker 1: been going to town here at the U. S t A.
Speaker 1: We want to talk about that portly with their chief
Speaker 1: revenue officer. Now I want to talk to Charlie Pellett
Speaker 1: he's back in Bloomberg World headquarters with a Bloomberg Business fashion.
Speaker 1: I thank you very much, Kathleen Hayes looking at green
Speaker 1: on the screen. Twenty nine minutes to go ahead of
Speaker 1: the close on this Friday, ahead of a long holiday weekend.
Speaker 1: We are brought to you by Sector Spider e t S.
Speaker 1: Why by a single stock when you can invest in
Speaker 1: the entire sector of visits sector sp d rs dot
Speaker 1: com or call one eight six six. Sector et F
Speaker 1: stocks are edging higher with an earlier rally losing some
Speaker 1: steam amid underwhelming labor market data that did little of
Speaker 1: bolster competence. Growth will be steady enough to support stronger
Speaker 1: corporate earnings. Pay Rolls up by a hundred and fifty
Speaker 1: one thousand in August, but that was below the median
Speaker 1: estimate in a Bloomberg survey of one hundred eighty thousand.
Speaker 1: The jobless rate and labor participation rate held steady. Reaction
Speaker 1: from Bill Gross, who manages an unconstrained bond fund for
Speaker 1: Janics appital I listened to Yelen, and I listened to
Speaker 1: Stan Fisher, and you know, basically at Jackson, hol Villan
Speaker 1: said that if things continue as they as they are continuing. Yes,
Speaker 1: you just pointed out the two hundred thousand is the
Speaker 1: twelve month every time jobs. But you know, I would
Speaker 1: say that she would think that this is a continuation
Speaker 1: of a positive trend. A ten year down nine thirty
Speaker 1: seconds yield one point six percent lu Lu, Lum and
Speaker 1: Athletic are shares down the most in almost nine months
Speaker 1: after its forecast missed some estimates. Lulu down ten point
Speaker 1: one percent, smp op eight to gain a four tenths
Speaker 1: of one percent, Gold up seven tenths of one percent,
Speaker 1: three thirty two on Wall Street. Now we'll look at
Speaker 1: other news from around the world. Thank you, Charlie from
Speaker 1: the Bloomberg news room. I'm Jill Schneider. Russian President Vladimir
Speaker 1: Putin sat down for a rare and exclusive interview with
Speaker 1: Bloomberg Editor in chief John Michael Thwaite. Speaking through an interpreter,
Speaker 1: Putin refused to take sides in the U. S. Presidential rate,
Speaker 1: in which he has been accused of secretly favoring Donald Trump.
Speaker 1: We are ready to work for venue President Box, of course.
Speaker 1: I also wants to say that it depends on how
Speaker 1: the future administration is. If someone says that they wants
Speaker 1: to work in Russia, we will welcome with I used
Speaker 1: to put. And if someone, as we said, although it
Speaker 1: maybe station, wants to get rid of us, that will
Speaker 1: be a completely different approach. But we will survive it.
Speaker 1: And it's not clear who has more to lose of
Speaker 1: that approach. Hillary Clinton used at least eight blackberries during
Speaker 1: her tenure as Secretary of State, but the FBI could
Speaker 1: not get any of them during its investigation. In addition
Speaker 1: to the eight devices, the FBI said there were at
Speaker 1: least five additional mobile devices they sought as part of
Speaker 1: their inquiry. One person interviewed by the FBI said he
Speaker 1: recalled two instances in which Clinton's devices were destroyed by quote,
Speaker 1: breaking them in half or hitting them with a hammer.
Speaker 1: Those are among some of the details released today by
Speaker 1: the FBI. New Jersey govern Or Chris Christie says he
Speaker 1: is ending a nearly four decade old tax agreement between
Speaker 1: his state and Pennsylvania. The deal let residents working in
Speaker 1: either state pay taxes at their home state's rate. Christie
Speaker 1: says he will reconsider his decision if the Democratic led
Speaker 1: legislature finds two d fifty million dollars in savings from
Speaker 1: public worker health benefits. Global News twenty four hours a day,
Speaker 1: powered by more than twenty d journalists and analysts in
Speaker 1: more than one twenty countries. I'm Jill Schneider. This is Bloomberg, Charlie,
Speaker 1: and we thank you and again recapping equities high smp
Speaker 1: op eight to nine, a gain of four tenths of
Speaker 1: one percent. I'm Charlie Pelton. That's sub Bloomberg Business Flash,
Speaker 1: Bloomberg taking Stock the Lux Life, stocks, funds, real estate.
Speaker 1: I've got houses in l A, Paris and Vale. It's
Speaker 1: good to be keen. You've they got the Finis shifts
Speaker 1: around waiting for you to face your offer. You must
Speaker 1: be rich tad and you nobody have two calibtons set
Speaker 1: Bloomberg taking Stock the Lux Life on Bloomberg Radio. We're
Speaker 1: live froms Tennis Open, Flushing Meadows, Corona Park, Queens, New York,
Speaker 1: UH the site every year August early September, two weeks
Speaker 1: of non stock tennis, the fourth Grand Slam, the final
Speaker 1: Grand Slam turn of the year. For my money, of course,
Speaker 1: the number one. And a man who has does so
Speaker 1: much to put this together is joining us now. Lucierry's
Speaker 1: chief Revenue Officer for the U. S t A. Because
Speaker 1: you want to talk about what's going on here and
Speaker 1: start with this whole luxury level. Anybody can come to
Speaker 1: the Open, but you can sure live high on the
Speaker 1: hog when you come out here, right sure. So we're
Speaker 1: very proud of the fact that anyone can come to
Speaker 1: the US Open. We have over seven hundred thousand fans
Speaker 1: who will attend this year. But corporate hospitality is absolutely
Speaker 1: a pillar of um the event. The fact that we're
Speaker 1: here in New York. We're here in New York every year,
Speaker 1: unlike some other events that moved from location to location,
Speaker 1: has allowed us to invest into permanent hospitality properties and
Speaker 1: and and products uh And as a result, many of
Speaker 1: our sponsors and and and other guests were able to
Speaker 1: take advantage of those things. It's it's it's a big
Speaker 1: part of what has maybe Open a successful seven years.
Speaker 1: You've been working as the chief revenue officer here LU
Speaker 1: before in your one of your past lives, you worked
Speaker 1: at Medicine Square Garden. Compared to me, if I'm if
Speaker 1: I'm a big bank company, what why and how I
Speaker 1: select one of the luxury boxes here at the Open
Speaker 1: in the same way or a different way I might
Speaker 1: select it for a different kind of sporting event. Sure,
Speaker 1: so there are a couple of things that make this
Speaker 1: event unique, certainly unique relative to other North American sort
Speaker 1: of team sports and leagues, the ones that we we
Speaker 1: would typically think of. I think first and foremost, tennis
Speaker 1: is a global sport. So if you're thinking about the
Speaker 1: U s Open, you need to think of us close
Speaker 1: it to an Olympic Games, which is quite timely closer
Speaker 1: to a World Cup than a a Yankee game in
Speaker 1: New York Nick Games something of that New York Giants
Speaker 1: because of the global interest um, which then translates to
Speaker 1: from a corporate standpoint, they're able to leverage global interest
Speaker 1: in in attending. I think that's a big piece. The
Speaker 1: other piece that is critically important to our success um
Speaker 1: both financially and and uh in in exposure and attention.
Speaker 1: Tennis is the most successful sport from a gender neutrality standpoint, right,
Speaker 1: and and so our audience is fifty fifty male female,
Speaker 1: our viewership is fifty fifty male female, our participation, our
Speaker 1: prize money. On every level that you view tennis, UM,
Speaker 1: we've achieved a level of gender equity that you don't
Speaker 1: see and from a hosting standpoint, to translate that back
Speaker 1: to your question, what you have our wives who will
Speaker 1: bring their husbands, husbands who will bring their wives, and
Speaker 1: the appeal of the event is just that much broader
Speaker 1: than perhaps a football game, a baseball game, which again
Speaker 1: translates to more desire to attend, which is the currency
Speaker 1: that many of our partners are looking to leverage. Very
Speaker 1: good point. And of course, you don't have to be
Speaker 1: a tennis player to love the Open, although a lot
Speaker 1: of people who come to tennis tournaments also play tennis. Yes, Now,
Speaker 1: can you share with me any if Kathleen Hayes Incorporated
Speaker 1: wanted to get a luxury box here at the Open
Speaker 1: about how much I'd be spending? You don't we we
Speaker 1: we don't share that information. Most of our boxes now
Speaker 1: have been tied up with long time legacy subscribers dating
Speaker 1: back when this venue was built. If a suite does
Speaker 1: come available, we typically will divide that into twenty four
Speaker 1: sessions and rent it on a procession basis, and that
Speaker 1: that can be dollars up to north of a hundred
Speaker 1: thousand dollars depending on the session um, and that has
Speaker 1: been quite a significant business for us now, the retractable
Speaker 1: roof has been used a couple of times, you know,
Speaker 1: in the first just few days of this tournament. I'm
Speaker 1: sure everybody's very happy to have it. As the chief
Speaker 1: revenue officer, when you look down the road for the
Speaker 1: U S t A and the U S open, what's
Speaker 1: on your list? What are people asking you to do?
Speaker 1: What would you like to do to continue to upgrade
Speaker 1: and build this tournament and the facilities. It's a great question. Um.
Speaker 1: You know, the focus of our renovation has really been,
Speaker 1: i think visually on the roof, and it was a
Speaker 1: significant investment. But the reality is the roof in and
Speaker 1: of itself doesn't contribute to revenue growth. It doesn't allow
Speaker 1: us to sell another ticket. Um, it doesn't. Uh, it
Speaker 1: really doesn't help in that respect. But schedule certainty is
Speaker 1: critical for fans, critical for our players, and critical for
Speaker 1: our broadcast partners as well. As we look to the future,
Speaker 1: we've already announced plans to rebuild our Louis Armstrong Stadium
Speaker 1: that will reopen in a team with its own retractable roof. UM.
Speaker 1: We continue every year to look at the on site experience.
Speaker 1: How do we create more dining options, more entertainment options,
Speaker 1: more shopping options, and and that's where our focus will be. Well,
Speaker 1: Louis Armstrong have luxury suitets. No, no, I'm sure we'll
Speaker 1: hold fourteen thousand, which is about four thousand more than
Speaker 1: the current venue, but there are no suits in that.
Speaker 1: Are you a tennis fan. I am a tennis fan.
Speaker 1: I buy playing standards. I wouldn't compare with many of
Speaker 1: my US Okay, you want to make it, put any
Speaker 1: money on who wins on the men's side, I won't sign.
Speaker 1: Here's what I know. We will have a championship here
Speaker 1: on Saturday night. We will have a championship here on
Speaker 1: on Sunday, and we won't have to wait till Monday
Speaker 1: like we did for the past five years in a
Speaker 1: row because it rains during the then final. Well, thank
Speaker 1: you so much for joining me. Louis is great, my pleasure.
Speaker 1: I appreciate the opportunity. Lu Share is a cheap revenue
Speaker 1: officer at the u s T a United States Tennis Association.
Speaker 1: Lu Share a big part of the US Tennis Association's
Speaker 1: efforts here at the US Open. I'm Kathleen Hayes and
Speaker 1: this is Bloomberg coming up. We are going to take
Speaker 1: a look at the stock market. It's had a pretty
Speaker 1: decent day. Take a look at the jobs report as
Speaker 1: well on what it means for trading ahead. This is
Speaker 1: Bloomberg