Speaker 1: Broadcasting live to New York, Bloomberg eleven Brio to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg twelve hundred to San Francisco,
Speaker 1: Bloomberg nine to the country. See is exam General one
Speaker 1: nine and around the globe the Bloomberg Radio, zapp and
Speaker 1: Bloomberg Dot gone. This is taking Stock, coming up on
Speaker 1: taking stock. How about Uber for the skies, We're gonna
Speaker 1: be talking about Blade. They described themselves as the first
Speaker 1: digitally driven short distance aviation company. We're gonna find out
Speaker 1: what you can fly in and how much it costs.
Speaker 1: Sounds like a luxury to me, but the founder of
Speaker 1: Blade says, oh no, it's a necessity for many. I
Speaker 1: just want to quickly mention to people. Are gonna be
Speaker 1: speaking to David Kotalk from Cumberland Advisors about the Puerto
Speaker 1: Rico det deal hammerd Dot yesterday. He wonders what it
Speaker 1: means for bondholders. Now to Charlie, he's in the newsroom
Speaker 1: with a blue business lass and stocks are flying higher today.
Speaker 1: Thank you very much, Cathleen, Thank you. Pim Fox. We've
Speaker 1: got the down Jones Industrial average off its session highs,
Speaker 1: but green on the screen on this Friday. Right now,
Speaker 1: with the Dow up forty five points, a gain of
Speaker 1: three tenths of one percent, SMP five hundred index rebounding
Speaker 1: from a seven week low, the SMP advancing nine points
Speaker 1: of five tenths of one percent, Nastack rallying fifty points
Speaker 1: up one point one percent. Technology shares are gaining amid
Speaker 1: easing anxiety over the potential for fire higher interest rates
Speaker 1: as early as next month. Jonathan Gallab is chief US
Speaker 1: market strategist at RBC Capital Markets. He was interviewed this
Speaker 1: morning on Bloomberg Surveillance. In a very short run if
Speaker 1: you if you hear news that the Fed is going
Speaker 1: to move in in June, the market may not like it,
Speaker 1: but the reality is the market wants higher interest rates
Speaker 1: because it means that conditions around the world aren't sick anymore,
Speaker 1: and zero interest rates are a problem for the economy.
Speaker 1: Deer shares moving law are by five and a half percent.
Speaker 1: It is grappling with declining sales of its tractors. Today,
Speaker 1: the world's biggest farm equipment manufacturer lowered its fiscal full
Speaker 1: year profit outlook on projections for reduced sales of tractors
Speaker 1: and combines the tenure up one thirty second, the yield
Speaker 1: there one point eight four percent, gold down to twenty,
Speaker 1: the ounce dropping two tenths of one percent to twelve
Speaker 1: fifty two, and crude oil lower now by forty one
Speaker 1: cents forty seven seventy five for a barrel of West
Speaker 1: Texas Intermediate, a drop there of nine tenths of one percent.
Speaker 1: Again recapping SMP up nine a gain of five tenths
Speaker 1: of one percent, and a three thirty two on Wall Street.
Speaker 1: Let's take a look at other news from around the
Speaker 1: world on Bloomberg Radio. Thank you, Charlie from the Bloomberg
Speaker 1: news Room. I'm Scarlet Food. This news update is brought
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Speaker 1: Drive one at your local Jeep dealer today. Donald Trump
Speaker 1: once supported restrictions on gun rights, but today the n
Speaker 1: r A is formally endorsing the likely Republican presidential nominee.
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Speaker 1: r A line. Three European security officials say the passenger
Speaker 1: manifest for egypt Air flight eight O four contained no
Speaker 1: known names on current terror watch lists. Flight eight O
Speaker 1: four was carrying sixties six people from Paris to Cairo
Speaker 1: when it is believed to have crashed. Officials say they
Speaker 1: have recovered wreckage. President Obama's blasting Congress for failing to
Speaker 1: provide more funding to fight the Zeke virus. My hope
Speaker 1: was that we would have had a build that I
Speaker 1: could sign now, because part of what we're trying to
Speaker 1: do is to accelerate get the process going for vaccines.
Speaker 1: You don't get a vaccine overnight. Federal health officials announced
Speaker 1: today that with or with symptoms, the Zeke of virus
Speaker 1: is linked to birth effects. All five operating rooms at
Speaker 1: a Long Island Veterans hospital are closed due to black
Speaker 1: particles falling from air ducts. The Times reports that the
Speaker 1: operating rooms at Northport Veterans Affairs Medical Center had reopened
Speaker 1: last month after an earlier issue, but had to be
Speaker 1: sealed off again when contamination returned. Global News twenty four
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Speaker 1: story out of Washington, US Park Police reporting a shooting
Speaker 1: on a road inside the White House complex. President Obama
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Speaker 1: Recapping SMP UP nine a gain of five tense of
Speaker 1: one percent. I'm Charlie Pellaton. That's a Bloomberg business slash
Speaker 1: bloom were taking stock the lux life, gold, jewlscing properties
Speaker 1: a valuable nature. Now that you live in that right
Speaker 1: front out, can I be your financial advisor? It's good
Speaker 1: to be keen. I thought of your eyes, and I
Speaker 1: m right out in buff Remember how much I wanted
Speaker 1: a big backyard with Grecian statue shaped edges and three
Speaker 1: swimming pool. Well, I got that Bloomberg taking stock the
Speaker 1: Lux Life on Bloomberg Radio. The Lux Life, Well, sometimes
Speaker 1: the Lux Life combines new technology with an old way
Speaker 1: of getting around. Rob Weisenthal is the founder and the
Speaker 1: chief executive of a Blade and he's here to tell
Speaker 1: us about the business model of Blade and how we
Speaker 1: can get up in the air for I guess less money.
Speaker 1: Thank you very much for being here on Thanks for
Speaker 1: having me. Tell us about Blade. What is it designed
Speaker 1: to do and how does technology change the business model? Well,
Speaker 1: it's designed to get you to get you from any
Speaker 1: point in the Northeast under four in of miles or
Speaker 1: a short distance aviation company. We want to make it
Speaker 1: an exciting, enjoyable, delightful experience, and we leverage technology UH
Speaker 1: to specifically crowdsourcing through our network of a hundred thousand
Speaker 1: users UH to make it affordable. But a big part
Speaker 1: of it is a network of incredible lounges with a
Speaker 1: terrific customer experience team we call them the c X
Speaker 1: team to kind of bring back that golden age of
Speaker 1: aviation when it was a personal touch, it was excitement
Speaker 1: and it was fun. Um I grew up in an
Speaker 1: arrow where I used to get dressed up to go on.
Speaker 1: I was just gonna say, does that mean people dressed
Speaker 1: nice again? You know, instead of putting on their sweats
Speaker 1: and you know exactly the average customer actually comes to
Speaker 1: one of our lounges forty minutes before their flight. They
Speaker 1: have cocktails, They you know, read vintage magazines. They meet
Speaker 1: people that they've met before, sometimes some new people, and uh,
Speaker 1: you know it's interesting because, especially with short distance aviation,
Speaker 1: whether it be turboprop planes or helicopters, where we got
Speaker 1: our start, you know, there really is that sense of
Speaker 1: adventure and excitement and we're trying to bring that back.
Speaker 1: But it starts with the experience on our app, which
Speaker 1: a hundred thousand users have downloaded. It moves to our lounges.
Speaker 1: We now have four lounges in New York City. Essentially,
Speaker 1: there's no way to fly into New York, whether by
Speaker 1: seaplane or helicopter, without going through or around a Blade lounge,
Speaker 1: and um, you know that's where the experience starts to
Speaker 1: continues the lounge and in the air, and the key
Speaker 1: is to try to make it seamless, easy and affordable.
Speaker 1: But by taking that hundred thousand users to answer your
Speaker 1: question of the technology, we are able to bring what
Speaker 1: used to be UM ships as we call it ships
Speaker 1: as as an air can be an airplane or a
Speaker 1: helicopter that have an average capacity realization at one point
Speaker 1: seven and bring it up. That brings the price down.
Speaker 1: So before Blade, say flying to East Hampton, for example,
Speaker 1: would be a three thousand, four thousand hour charter. That's
Speaker 1: a seat on that helicopters on five dollars. Let's just
Speaker 1: outline some of the geographies here Blade between Manhattan, Westchester,
Speaker 1: Miami and Palm Beach. You go take the helicopter to
Speaker 1: the Gulf Stream that's waiting for you. Is that kind
Speaker 1: We have a seasonal service called Blade one, and this
Speaker 1: was really the canvas that I had to kind of
Speaker 1: recreate what we just talked about, which is that Golden
Speaker 1: age of aviation. Your experience starts at a Blade lounge. Uh,
Speaker 1: you get in a helicopter, you fly to the side
Speaker 1: of a Gulf Stream jet which is specifically a UM
Speaker 1: the Blade jet for the season. We don't use random aircraft. Uh,
Speaker 1: their twelve captains chairs, no benches. You've tied English food.
Speaker 1: On the way down, you have Triprianic food. On the
Speaker 1: way back, you have iPad pros with first run movies
Speaker 1: and you actually have to flight attendants who uh I
Speaker 1: have You know, a bunch of us have trained personally.
Speaker 1: They're wearing UH to marrow melon outfits that she designed
Speaker 1: a bunch of a couple of years ago to kind
Speaker 1: of if you think about the old days when Amelia
Speaker 1: Pucci designed out it's for manoth Uh. You landed a
Speaker 1: Blade Lounge in Miami and on the return you could
Speaker 1: actually have dinner before you get on a plane. What's
Speaker 1: going on in Boston? In Boston today, we're very proud
Speaker 1: to have announced a partnership with uber other product for
Speaker 1: Memorial Day weekend. It's promotionally called Uber Air powered by Blade.
Speaker 1: It's our fourth partnership with uber uh and we'll be
Speaker 1: flying from a Blade Lounge at Signature Aviation at Logan
Speaker 1: for fort emn flight to Nantucket to a Blade Lounge
Speaker 1: and Nantucket it's the first time in many years that
Speaker 1: Nantucket has opened themselves up to a new air carrier.
Speaker 1: We're excited about that lounge. We're excited about being on
Speaker 1: on on island, so to speak, and Boston clearly is
Speaker 1: going to be the second hub for Blade. But I
Speaker 1: can't think of a better partner to start this with
Speaker 1: than than Uber, and they will be a partner with
Speaker 1: us for the first week and they're gonna have introductory
Speaker 1: pricing kind of kicked the summer off at three per
Speaker 1: seat and they've been absolutely terrific introducing us to Boss
Speaker 1: and so that's been great. Boston of course home to
Speaker 1: Bloomberg a m rob cost. What's this all cost? Give
Speaker 1: us some numbers? Okay, So, as I said, you know,
Speaker 1: Uber Air powered by powered by Blades three urs from
Speaker 1: Boston to uh Nantucket. UH flights to uh say the
Speaker 1: Hampton's from Manhattan average probably about five or a seat.
Speaker 1: And then we have our fastest growing product, which is
Speaker 1: called Blade Bounce, which is a guaranteed helicopter within twenty minutes.
Speaker 1: You could stay sit here on your phone book within
Speaker 1: thirty seconds and within twenty minutes will be a helicopter
Speaker 1: waiting for you to take into any area airport for eight.
Speaker 1: That is not a seat, that is an entire helicopter. Alright,
Speaker 1: but Rob, but I guess I'm gonna have to get
Speaker 1: a seat on Blade to go to the lounge. I
Speaker 1: can't just show up for a drink for you. You
Speaker 1: can show up for a drink. Thank you so very much,
Speaker 1: and I have a lot of fun. Founder and CEO
Speaker 1: of Blade joining us to look at luxury on Bloomberg Radio.
Speaker 1: Coming up on taking Stock, We're going to take stock
Speaker 1: of your investments with David Kotok, the chairman and the
Speaker 1: chief investment officer of Cumberland Advisers. What should you do
Speaker 1: with your money today? We'll find out