1 00:00:08,960 --> 00:00:13,280 Speaker 1: Broadcasting live to New York, Bloomberg eleven Brio to Washington, 2 00:00:13,400 --> 00:00:18,360 Speaker 1: d C, Bloomberg to Boston, Bloomberg twelve hundred to San Francisco, 3 00:00:18,520 --> 00:00:22,280 Speaker 1: Bloomberg nine to the country. See is exam General one 4 00:00:22,360 --> 00:00:25,840 Speaker 1: nine and around the globe the Bloomberg Radio, zapp and 5 00:00:25,920 --> 00:00:30,040 Speaker 1: Bloomberg Dot gone. This is taking Stock, coming up on 6 00:00:30,200 --> 00:00:34,160 Speaker 1: taking stock. How about Uber for the skies, We're gonna 7 00:00:34,159 --> 00:00:37,120 Speaker 1: be talking about Blade. They described themselves as the first 8 00:00:37,320 --> 00:00:42,600 Speaker 1: digitally driven short distance aviation company. We're gonna find out 9 00:00:43,000 --> 00:00:45,639 Speaker 1: what you can fly in and how much it costs. 10 00:00:46,159 --> 00:00:48,680 Speaker 1: Sounds like a luxury to me, but the founder of 11 00:00:48,680 --> 00:00:50,839 Speaker 1: Blade says, oh no, it's a necessity for many. I 12 00:00:50,880 --> 00:00:52,760 Speaker 1: just want to quickly mention to people. Are gonna be 13 00:00:52,760 --> 00:00:55,600 Speaker 1: speaking to David Kotalk from Cumberland Advisors about the Puerto 14 00:00:55,640 --> 00:00:58,040 Speaker 1: Rico det deal hammerd Dot yesterday. He wonders what it 15 00:00:58,080 --> 00:01:01,000 Speaker 1: means for bondholders. Now to Charlie, he's in the newsroom 16 00:01:01,200 --> 00:01:04,400 Speaker 1: with a blue business lass and stocks are flying higher today. 17 00:01:04,440 --> 00:01:06,640 Speaker 1: Thank you very much, Cathleen, Thank you. Pim Fox. We've 18 00:01:06,640 --> 00:01:09,919 Speaker 1: got the down Jones Industrial average off its session highs, 19 00:01:09,959 --> 00:01:12,080 Speaker 1: but green on the screen on this Friday. Right now, 20 00:01:12,120 --> 00:01:14,160 Speaker 1: with the Dow up forty five points, a gain of 21 00:01:14,440 --> 00:01:18,119 Speaker 1: three tenths of one percent, SMP five hundred index rebounding 22 00:01:18,160 --> 00:01:21,720 Speaker 1: from a seven week low, the SMP advancing nine points 23 00:01:21,760 --> 00:01:25,479 Speaker 1: of five tenths of one percent, Nastack rallying fifty points 24 00:01:25,520 --> 00:01:29,200 Speaker 1: up one point one percent. Technology shares are gaining amid 25 00:01:29,360 --> 00:01:33,560 Speaker 1: easing anxiety over the potential for fire higher interest rates 26 00:01:33,600 --> 00:01:37,280 Speaker 1: as early as next month. Jonathan Gallab is chief US 27 00:01:37,400 --> 00:01:41,440 Speaker 1: market strategist at RBC Capital Markets. He was interviewed this 28 00:01:41,480 --> 00:01:44,479 Speaker 1: morning on Bloomberg Surveillance. In a very short run if 29 00:01:44,520 --> 00:01:46,200 Speaker 1: you if you hear news that the Fed is going 30 00:01:46,240 --> 00:01:49,120 Speaker 1: to move in in June, the market may not like it, 31 00:01:49,200 --> 00:01:51,920 Speaker 1: but the reality is the market wants higher interest rates 32 00:01:51,920 --> 00:01:55,160 Speaker 1: because it means that conditions around the world aren't sick anymore, 33 00:01:55,240 --> 00:01:58,360 Speaker 1: and zero interest rates are a problem for the economy. 34 00:01:58,560 --> 00:02:01,600 Speaker 1: Deer shares moving law are by five and a half percent. 35 00:02:01,720 --> 00:02:05,080 Speaker 1: It is grappling with declining sales of its tractors. Today, 36 00:02:05,120 --> 00:02:09,600 Speaker 1: the world's biggest farm equipment manufacturer lowered its fiscal full 37 00:02:09,680 --> 00:02:14,440 Speaker 1: year profit outlook on projections for reduced sales of tractors 38 00:02:14,600 --> 00:02:17,680 Speaker 1: and combines the tenure up one thirty second, the yield 39 00:02:17,680 --> 00:02:20,480 Speaker 1: there one point eight four percent, gold down to twenty, 40 00:02:20,520 --> 00:02:23,160 Speaker 1: the ounce dropping two tenths of one percent to twelve 41 00:02:23,240 --> 00:02:26,359 Speaker 1: fifty two, and crude oil lower now by forty one 42 00:02:26,360 --> 00:02:29,720 Speaker 1: cents forty seven seventy five for a barrel of West 43 00:02:29,760 --> 00:02:33,280 Speaker 1: Texas Intermediate, a drop there of nine tenths of one percent. 44 00:02:33,360 --> 00:02:37,040 Speaker 1: Again recapping SMP up nine a gain of five tenths 45 00:02:37,120 --> 00:02:40,320 Speaker 1: of one percent, and a three thirty two on Wall Street. 46 00:02:40,480 --> 00:02:42,480 Speaker 1: Let's take a look at other news from around the 47 00:02:42,480 --> 00:02:46,760 Speaker 1: world on Bloomberg Radio. Thank you, Charlie from the Bloomberg 48 00:02:46,760 --> 00:02:49,679 Speaker 1: news Room. I'm Scarlet Food. This news update is brought 49 00:02:49,680 --> 00:02:51,800 Speaker 1: to you by the Jeep Grand Cherokee, the most awarded 50 00:02:51,960 --> 00:02:55,120 Speaker 1: suv ever. The Grand Cherokee continues to raise the bar 51 00:02:55,200 --> 00:02:58,839 Speaker 1: with its luxurious interior and legendary four by four capability. 52 00:02:59,240 --> 00:03:02,000 Speaker 1: Drive one at your local Jeep dealer today. Donald Trump 53 00:03:02,040 --> 00:03:04,880 Speaker 1: once supported restrictions on gun rights, but today the n 54 00:03:04,960 --> 00:03:08,680 Speaker 1: r A is formally endorsing the likely Republican presidential nominee. 55 00:03:09,040 --> 00:03:12,600 Speaker 1: Trump addressed a National Rifle Association convention a short time ago. 56 00:03:13,160 --> 00:03:16,040 Speaker 1: Thousands of gun enthusiasts were on hand to hear Trump 57 00:03:16,080 --> 00:03:18,840 Speaker 1: speak at the n r A meeting in Louisville, Kentucky. 58 00:03:18,880 --> 00:03:22,480 Speaker 1: He once criticized Republican politicians who quote walk the n 59 00:03:22,560 --> 00:03:26,440 Speaker 1: r A line. Three European security officials say the passenger 60 00:03:26,480 --> 00:03:29,600 Speaker 1: manifest for egypt Air flight eight O four contained no 61 00:03:29,800 --> 00:03:32,919 Speaker 1: known names on current terror watch lists. Flight eight O 62 00:03:33,000 --> 00:03:35,800 Speaker 1: four was carrying sixties six people from Paris to Cairo 63 00:03:35,880 --> 00:03:38,640 Speaker 1: when it is believed to have crashed. Officials say they 64 00:03:38,680 --> 00:03:42,960 Speaker 1: have recovered wreckage. President Obama's blasting Congress for failing to 65 00:03:43,000 --> 00:03:46,280 Speaker 1: provide more funding to fight the Zeke virus. My hope 66 00:03:46,800 --> 00:03:48,400 Speaker 1: was that we would have had a build that I 67 00:03:48,440 --> 00:03:52,080 Speaker 1: could sign now, because part of what we're trying to 68 00:03:52,120 --> 00:03:55,280 Speaker 1: do is to accelerate get the process going for vaccines. 69 00:03:55,720 --> 00:03:58,720 Speaker 1: You don't get a vaccine overnight. Federal health officials announced 70 00:03:58,720 --> 00:04:01,520 Speaker 1: today that with or with symptoms, the Zeke of virus 71 00:04:01,560 --> 00:04:04,440 Speaker 1: is linked to birth effects. All five operating rooms at 72 00:04:04,440 --> 00:04:07,560 Speaker 1: a Long Island Veterans hospital are closed due to black 73 00:04:07,600 --> 00:04:10,760 Speaker 1: particles falling from air ducts. The Times reports that the 74 00:04:10,800 --> 00:04:14,800 Speaker 1: operating rooms at Northport Veterans Affairs Medical Center had reopened 75 00:04:14,880 --> 00:04:17,560 Speaker 1: last month after an earlier issue, but had to be 76 00:04:17,640 --> 00:04:21,400 Speaker 1: sealed off again when contamination returned. Global News twenty four 77 00:04:21,440 --> 00:04:24,280 Speaker 1: hours a day, powered by our journalists and more than 78 00:04:24,320 --> 00:04:28,080 Speaker 1: one fifty news bureaus around the world. From the Bloomberg Newsroom, 79 00:04:28,120 --> 00:04:31,680 Speaker 1: I'm Scarlet Foo Charlie, and we are brought to you 80 00:04:31,720 --> 00:04:36,240 Speaker 1: by the American Arbitration Association, International Trade or Business Dispute 81 00:04:36,240 --> 00:04:40,159 Speaker 1: Resolve Faster with the International Center for Dispute Resolution, the 82 00:04:40,279 --> 00:04:44,200 Speaker 1: leader in alternative dispute resolution around the world. I see 83 00:04:44,279 --> 00:04:47,440 Speaker 1: d R dot org. Just updating you on a developing 84 00:04:47,480 --> 00:04:50,480 Speaker 1: story out of Washington, US Park Police reporting a shooting 85 00:04:50,520 --> 00:04:53,839 Speaker 1: on a road inside the White House complex. President Obama 86 00:04:53,960 --> 00:04:57,240 Speaker 1: is playing golf and is not on the White House grounds. 87 00:04:57,600 --> 00:05:00,280 Speaker 1: Recapping SMP UP nine a gain of five tense of 88 00:05:00,320 --> 00:05:05,640 Speaker 1: one percent. I'm Charlie Pellaton. That's a Bloomberg business slash 89 00:05:06,160 --> 00:05:11,480 Speaker 1: bloom were taking stock the lux life, gold, jewlscing properties 90 00:05:11,480 --> 00:05:13,600 Speaker 1: a valuable nature. Now that you live in that right 91 00:05:13,680 --> 00:05:17,000 Speaker 1: front out, can I be your financial advisor? It's good 92 00:05:17,040 --> 00:05:20,760 Speaker 1: to be keen. I thought of your eyes, and I 93 00:05:20,680 --> 00:05:22,960 Speaker 1: m right out in buff Remember how much I wanted 94 00:05:23,000 --> 00:05:26,760 Speaker 1: a big backyard with Grecian statue shaped edges and three 95 00:05:26,800 --> 00:05:30,640 Speaker 1: swimming pool. Well, I got that Bloomberg taking stock the 96 00:05:30,760 --> 00:05:35,440 Speaker 1: Lux Life on Bloomberg Radio. The Lux Life, Well, sometimes 97 00:05:35,520 --> 00:05:39,800 Speaker 1: the Lux Life combines new technology with an old way 98 00:05:39,800 --> 00:05:43,720 Speaker 1: of getting around. Rob Weisenthal is the founder and the 99 00:05:43,800 --> 00:05:46,440 Speaker 1: chief executive of a Blade and he's here to tell 100 00:05:46,520 --> 00:05:50,320 Speaker 1: us about the business model of Blade and how we 101 00:05:50,360 --> 00:05:52,960 Speaker 1: can get up in the air for I guess less money. 102 00:05:53,000 --> 00:05:54,640 Speaker 1: Thank you very much for being here on Thanks for 103 00:05:54,680 --> 00:05:57,479 Speaker 1: having me. Tell us about Blade. What is it designed 104 00:05:57,480 --> 00:06:02,160 Speaker 1: to do and how does technology change the business model? Well, 105 00:06:02,240 --> 00:06:06,520 Speaker 1: it's designed to get you to get you from any 106 00:06:06,560 --> 00:06:08,640 Speaker 1: point in the Northeast under four in of miles or 107 00:06:08,640 --> 00:06:11,400 Speaker 1: a short distance aviation company. We want to make it 108 00:06:11,480 --> 00:06:16,440 Speaker 1: an exciting, enjoyable, delightful experience, and we leverage technology UH 109 00:06:16,520 --> 00:06:19,960 Speaker 1: to specifically crowdsourcing through our network of a hundred thousand 110 00:06:20,000 --> 00:06:23,279 Speaker 1: users UH to make it affordable. But a big part 111 00:06:23,320 --> 00:06:25,880 Speaker 1: of it is a network of incredible lounges with a 112 00:06:26,000 --> 00:06:28,800 Speaker 1: terrific customer experience team we call them the c X 113 00:06:28,800 --> 00:06:31,039 Speaker 1: team to kind of bring back that golden age of 114 00:06:31,040 --> 00:06:34,320 Speaker 1: aviation when it was a personal touch, it was excitement 115 00:06:34,360 --> 00:06:36,560 Speaker 1: and it was fun. Um I grew up in an 116 00:06:36,640 --> 00:06:38,479 Speaker 1: arrow where I used to get dressed up to go on. 117 00:06:38,760 --> 00:06:40,640 Speaker 1: I was just gonna say, does that mean people dressed 118 00:06:40,760 --> 00:06:43,880 Speaker 1: nice again? You know, instead of putting on their sweats 119 00:06:43,920 --> 00:06:46,719 Speaker 1: and you know exactly the average customer actually comes to 120 00:06:46,760 --> 00:06:49,480 Speaker 1: one of our lounges forty minutes before their flight. They 121 00:06:49,480 --> 00:06:53,880 Speaker 1: have cocktails, They you know, read vintage magazines. They meet 122 00:06:53,920 --> 00:06:57,600 Speaker 1: people that they've met before, sometimes some new people, and uh, 123 00:06:57,720 --> 00:07:00,880 Speaker 1: you know it's interesting because, especially with short distance aviation, 124 00:07:00,920 --> 00:07:04,400 Speaker 1: whether it be turboprop planes or helicopters, where we got 125 00:07:04,440 --> 00:07:06,800 Speaker 1: our start, you know, there really is that sense of 126 00:07:06,839 --> 00:07:09,119 Speaker 1: adventure and excitement and we're trying to bring that back. 127 00:07:09,360 --> 00:07:11,480 Speaker 1: But it starts with the experience on our app, which 128 00:07:11,520 --> 00:07:14,600 Speaker 1: a hundred thousand users have downloaded. It moves to our lounges. 129 00:07:14,680 --> 00:07:17,960 Speaker 1: We now have four lounges in New York City. Essentially, 130 00:07:17,960 --> 00:07:20,520 Speaker 1: there's no way to fly into New York, whether by 131 00:07:20,560 --> 00:07:23,880 Speaker 1: seaplane or helicopter, without going through or around a Blade lounge, 132 00:07:24,520 --> 00:07:27,600 Speaker 1: and um, you know that's where the experience starts to 133 00:07:27,640 --> 00:07:30,040 Speaker 1: continues the lounge and in the air, and the key 134 00:07:30,080 --> 00:07:33,200 Speaker 1: is to try to make it seamless, easy and affordable. 135 00:07:33,280 --> 00:07:35,640 Speaker 1: But by taking that hundred thousand users to answer your 136 00:07:35,680 --> 00:07:39,120 Speaker 1: question of the technology, we are able to bring what 137 00:07:39,320 --> 00:07:42,320 Speaker 1: used to be UM ships as we call it ships 138 00:07:42,320 --> 00:07:44,040 Speaker 1: as as an air can be an airplane or a 139 00:07:44,120 --> 00:07:46,920 Speaker 1: helicopter that have an average capacity realization at one point 140 00:07:46,960 --> 00:07:50,280 Speaker 1: seven and bring it up. That brings the price down. 141 00:07:50,400 --> 00:07:54,760 Speaker 1: So before Blade, say flying to East Hampton, for example, 142 00:07:54,800 --> 00:07:58,520 Speaker 1: would be a three thousand, four thousand hour charter. That's 143 00:07:58,560 --> 00:08:02,600 Speaker 1: a seat on that helicopters on five dollars. Let's just 144 00:08:02,720 --> 00:08:07,760 Speaker 1: outline some of the geographies here Blade between Manhattan, Westchester, 145 00:08:08,000 --> 00:08:12,520 Speaker 1: Miami and Palm Beach. You go take the helicopter to 146 00:08:12,640 --> 00:08:14,720 Speaker 1: the Gulf Stream that's waiting for you. Is that kind 147 00:08:15,040 --> 00:08:17,960 Speaker 1: We have a seasonal service called Blade one, and this 148 00:08:18,080 --> 00:08:20,520 Speaker 1: was really the canvas that I had to kind of 149 00:08:20,560 --> 00:08:22,720 Speaker 1: recreate what we just talked about, which is that Golden 150 00:08:22,760 --> 00:08:26,480 Speaker 1: age of aviation. Your experience starts at a Blade lounge. Uh, 151 00:08:26,560 --> 00:08:28,560 Speaker 1: you get in a helicopter, you fly to the side 152 00:08:28,560 --> 00:08:32,480 Speaker 1: of a Gulf Stream jet which is specifically a UM 153 00:08:32,559 --> 00:08:36,440 Speaker 1: the Blade jet for the season. We don't use random aircraft. Uh, 154 00:08:36,480 --> 00:08:39,560 Speaker 1: their twelve captains chairs, no benches. You've tied English food. 155 00:08:39,600 --> 00:08:42,080 Speaker 1: On the way down, you have Triprianic food. On the 156 00:08:42,080 --> 00:08:44,880 Speaker 1: way back, you have iPad pros with first run movies 157 00:08:44,920 --> 00:08:48,080 Speaker 1: and you actually have to flight attendants who uh I 158 00:08:48,200 --> 00:08:50,840 Speaker 1: have You know, a bunch of us have trained personally. 159 00:08:51,200 --> 00:08:54,840 Speaker 1: They're wearing UH to marrow melon outfits that she designed 160 00:08:54,920 --> 00:08:56,800 Speaker 1: a bunch of a couple of years ago to kind 161 00:08:56,800 --> 00:08:58,760 Speaker 1: of if you think about the old days when Amelia 162 00:08:58,800 --> 00:09:02,120 Speaker 1: Pucci designed out it's for manoth Uh. You landed a 163 00:09:02,120 --> 00:09:04,120 Speaker 1: Blade Lounge in Miami and on the return you could 164 00:09:04,120 --> 00:09:06,880 Speaker 1: actually have dinner before you get on a plane. What's 165 00:09:06,880 --> 00:09:09,920 Speaker 1: going on in Boston? In Boston today, we're very proud 166 00:09:09,960 --> 00:09:14,360 Speaker 1: to have announced a partnership with uber other product for 167 00:09:14,640 --> 00:09:18,120 Speaker 1: Memorial Day weekend. It's promotionally called Uber Air powered by Blade. 168 00:09:18,520 --> 00:09:22,800 Speaker 1: It's our fourth partnership with uber uh and we'll be 169 00:09:22,880 --> 00:09:26,200 Speaker 1: flying from a Blade Lounge at Signature Aviation at Logan 170 00:09:26,880 --> 00:09:30,160 Speaker 1: for fort emn flight to Nantucket to a Blade Lounge 171 00:09:30,160 --> 00:09:32,520 Speaker 1: and Nantucket it's the first time in many years that 172 00:09:32,640 --> 00:09:36,240 Speaker 1: Nantucket has opened themselves up to a new air carrier. 173 00:09:36,320 --> 00:09:39,679 Speaker 1: We're excited about that lounge. We're excited about being on 174 00:09:39,679 --> 00:09:42,599 Speaker 1: on on island, so to speak, and Boston clearly is 175 00:09:42,600 --> 00:09:45,120 Speaker 1: going to be the second hub for Blade. But I 176 00:09:45,160 --> 00:09:47,320 Speaker 1: can't think of a better partner to start this with 177 00:09:47,480 --> 00:09:49,800 Speaker 1: than than Uber, and they will be a partner with 178 00:09:49,920 --> 00:09:53,280 Speaker 1: us for the first week and they're gonna have introductory 179 00:09:53,320 --> 00:09:55,920 Speaker 1: pricing kind of kicked the summer off at three per 180 00:09:55,960 --> 00:09:59,960 Speaker 1: seat and they've been absolutely terrific introducing us to Boss 181 00:10:00,160 --> 00:10:03,079 Speaker 1: and so that's been great. Boston of course home to 182 00:10:03,120 --> 00:10:08,240 Speaker 1: Bloomberg a m rob cost. What's this all cost? Give 183 00:10:08,280 --> 00:10:10,560 Speaker 1: us some numbers? Okay, So, as I said, you know, 184 00:10:10,840 --> 00:10:14,000 Speaker 1: Uber Air powered by powered by Blades three urs from 185 00:10:14,000 --> 00:10:20,000 Speaker 1: Boston to uh Nantucket. UH flights to uh say the 186 00:10:20,040 --> 00:10:24,320 Speaker 1: Hampton's from Manhattan average probably about five or a seat. 187 00:10:24,360 --> 00:10:26,920 Speaker 1: And then we have our fastest growing product, which is 188 00:10:26,920 --> 00:10:30,760 Speaker 1: called Blade Bounce, which is a guaranteed helicopter within twenty minutes. 189 00:10:30,840 --> 00:10:33,400 Speaker 1: You could stay sit here on your phone book within 190 00:10:33,480 --> 00:10:35,840 Speaker 1: thirty seconds and within twenty minutes will be a helicopter 191 00:10:35,920 --> 00:10:38,520 Speaker 1: waiting for you to take into any area airport for eight. 192 00:10:39,640 --> 00:10:42,400 Speaker 1: That is not a seat, that is an entire helicopter. Alright, 193 00:10:42,400 --> 00:10:44,120 Speaker 1: but Rob, but I guess I'm gonna have to get 194 00:10:44,120 --> 00:10:45,640 Speaker 1: a seat on Blade to go to the lounge. I 195 00:10:45,679 --> 00:10:47,559 Speaker 1: can't just show up for a drink for you. You 196 00:10:47,600 --> 00:10:51,560 Speaker 1: can show up for a drink. Thank you so very much, 197 00:10:51,760 --> 00:10:53,800 Speaker 1: and I have a lot of fun. Founder and CEO 198 00:10:53,880 --> 00:10:57,520 Speaker 1: of Blade joining us to look at luxury on Bloomberg Radio. 199 00:11:01,520 --> 00:11:04,240 Speaker 1: Coming up on taking Stock, We're going to take stock 200 00:11:04,280 --> 00:11:06,800 Speaker 1: of your investments with David Kotok, the chairman and the 201 00:11:06,840 --> 00:11:10,640 Speaker 1: chief investment officer of Cumberland Advisers. What should you do 202 00:11:10,720 --> 00:11:12,800 Speaker 1: with your money today? We'll find out