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Transcription: Marketplace is supported by Drexel University Drexel University I know I use this yesterday but honestly it is just so good is the problem is there is a brexit deal we think from American public media Marketplace is supported by Progressive Insurance offering snapshot a device that adjusts insurance rates based on safe driving habits now that’s Progressive learn more Progressive, and I figure providing a streamline digital platform for home equity loans you can learn how to use the equity in your home for Home Improvement major purchases or debt consolidation at figured and buy invest Northern Ireland Northern Ireland a European location with a skilled agile Workforce focused on results more Ivan best and I. Com in Los Angeles on Conroy solid Wednesday Today 14th of November good as always to have you along everybody this evening I’m a single television camera fixed on the door number ten Downing Street yesterday and that her hours debating it went like this song I’d weather to move on in the tools and this thing runs 585 Pages just the Preamble takes five pages all the throat clearing in the wherefores it and all of that absolute difficult contentious issue has been old Irish backstop has agreed to stay close to the other than that a word about what this proposed Arrangement is not it is not a road map for the future relations between the EU and Britain right this is officially 429 prime minister said this evening at London time of standing before 10 Downing Street and that she’s going to make a statement Parliament tomorrow there are many many hurdles this thing has to clear not least of which is a no-confidence vote and and the more division within the British body politic is the Irish backstop 19.4 million people in this country voted for and some remain like this is country has made a terrible mistake and we should have the right to revisit the decision that we made over two and a half years ago or so quickly Steven cuz we’re running out of time that two and a half years ago thing matters because that’s true going to have a second referendum if we leave. Medicine if there is no deposit the coming out that foreign exchange does indeed carry significant risk of loss the British pound sterling was All Is Lost as though and then some as May started talking equities first there was the Amazon hq2 build up then there was the Amazon hq2 announcement now of course comes the Amazon hq2 wren’s crowded Subway in highways and big Municipal give away a labor store in one of the big reasons Northern Virginia both big pools of tech talent and if that Supply Supply in the form of local colleges and universities the higher ed implications of Amazon’s move Virginia Tech was already planning a new innovation campus in Northern Virginia University and the Commonwealth of Virginia these are not people were delivering to their doorstep they’re going to be in there with everybody else from Cornell University Tech NYC by Coalition of investors she says it’s not just about increasingly a financial institutions media companies advertising jobs which creates more demand for the seats would create more applications which creates I give money back a brief detour to trade and tariffs now away from the headlines of Steel and aluminum down farther on the harmonized Tariff schedule to electronics and electronic components because just look around Electronics you pretty much everywhere DF Electronics is in Cincinnati Ohio is a family-run Electronics Define tell me what Electronics does control okay so the reason called you are those are those prints circuit boards and all the things that go on those printed circuit board most electronic components are built economy what is your exposure I mean from the manufacturers making this up as we go how do you keep the books I don’t know what what sort of and that’s really the nightmare were sort of making it up and literally everyone else in the business is doing the same thing at the moment I’m in the drafting a letter to customers at the end we’ll look at prices we don’t know where those came from what’s your sense of how your customers are going to react or how have they been reacting since this is been going for a while are they saying and you can take this purchase order and invoice you know what with it or they are they working with you say miss you what are you do and if as seems by all evidence now that this will not end anytime soon playing it by ear the Tariff costs really is to be determined and is as you’re very well in business Electronics in Cincinnati Ohio over 200 venues all over the world so in any given moment right now there’s an event going on somewhere within Aug numbers of doctors of 205 points today a 10% added to 25080 tsp t701 NASDAQ down 64.97% finished at 71 and 36 elephant 8%. 2.6% from the Department of no good deed goes unpunished retailer Macy’s reported Dublin net income last quarter and predicted more of the same two, however even percent yield on the 10-year treasury note fell 2% digital transformation using artificial intelligence and I note to self previous business problems later lamps from personal devices and timekeeping in one unified system designed with a streamlined implementation approach for small and medium-sized businesses across the globe Kronos New York State health department travel easy fun stuff to talk about on Friday Harlem’s world famous Apollo Theater it’s part of the work at Festival from WNYC Studios were hanging out with Marcus Samuelsson the celebrity chef Bobby Sanabria get your tickets at work at events.com s w e r k i t events.com you’re listening to Marketplace on WNYC all coming up next day 2 this is Marketplace on, Rachel Hartman tickets to Toledo Ohio yesterday, Auto industry today billion dollars of government money remember to Chrysler GM GMAC protect millions of years after the financial crisis today he goes to Kenosha Wisconsin a city with a long and proud tradition of automobile production that come to an end but we’re halfway between Chicago and Milwaukee Michigan Kenosha Wisconsin what are the First Assembly Plant the year ahead of Henry Ford’s Union organized before until 2010 or 1988 Chrysler Chrysler engine plant shutdown with November 1st of 2010 and the federal government and a lot of endangered Auto plants across the Midwest Kenosha say engine plant for a while there but yet Kenosha pulled out will you turn something bad into a positive end up with money from Chrysler and now it’s Harbor Park with a vintage electric trolley cleaning round style Setter it’s public access to the lakefront to Boardwalk Marina is president of the Kenosha area commuters we’ve seen a tremendous amount of residential development the economy has become more diverse 3.3% poverty and median household income comprable to levels Nationwide all pints North and now it’s attracted distribution centers in logistics facilities Advanced manufacturing operations food processing companies like Amazon to SC Johnson Products company says the region has attracted new jobs to replace those in the auto plants this is growing up forever young adult president of UAW Local 72 in Kenosha which mostly looks and remembers when her daughter and son-in-law were starting out I went over to the office and I see if this isn’t going to be a job for a long-term don’t hire him it would have been nice if there was this here but it isn’t it isn’t there no more is just the first step in Kenosha Street development been torn down a place where they roll up the sidewalks at exactly happened either now though and many billions of dollars later after dark and a lot of them happen at a place called LA Live restaurant bars the Microsoft theater on the Emmy Awards hotels in Staples Center lot going on so the other day we went for a walk and talk with the place and all or part of its tenants sports teams to use including the Staples Center which is where we started our walk in and was like before all the building started it was 1998 we broke ground on Staples Center this was not the best part of the city when you look around today me see these buildings popping up all around us it’s become so much more than that it’s it’s still the business center in the financial center but it’s also the sports and entertainment center it’s the culinary center it’s the cultural center in a lot of different ways it’s a place where people come at night and we also focused on what we’re good at so we are not residential developers when I retail developers so what we seeing a lot of these projects not just here in Downtown LA but other projects is other developers coming in in and putting their capital and building these other pieces of it and that’s kind of a rewarding a rewarding part of it and we focus on our core in a way you were betting on the come right that’s obviously but it’s not just about what cities are going to it’s about places in the city that need economic so we can we go in the East Berlin on the market as opposed to just the market itself was no time at all in this economy to be opening some giant billion dollar investment I don’t think that any business in the world is recession-proof but I’ll tell you the lesson that we learned coming out of two thousand seven eight nine is that our business in a lot of ways is recession-resistant and I think it’s because of the nature of sports and entertainment and that we have great assets whether it’s the O2 in London or Staples for the galaxies there are so this is this was not built when Staples Center opened their Microsoft Microsoft theater 7000 seats so we wanted to be able to capitalize on a lot of infrastructure that we had at Staple Center we have a whole bunch of Staff do we need to build all of that again with this new 7000 seat venue across the street or is there somewhere where we can connect to the infrastructure that we had we built this tunnel which enables us you come in here on any given Friday or Saturday when we have events going at Fulton Center this is a buzzing Corridor with people and staff and beverage going underneath the house is home sweet home tonight so any any moment now we’ll have the visiting team probably doing their shoot around it so this is the Time of the Season where we’ll do 240 events a year and this is the season where a lot of them happen there’s a lot of compression in the schedule it’s a need this campus Wells funny when you think back in 1997 when I started we were back at the at the Forum in Inglewood in the market we’re really all they were all built in the in the 60s and the Endocet so there was there was a real hole in the market for a state-of-the-art venue you look at the markets around the country every Market had a state-of-the-art venue in some a lot less or markets in Los Angeles so I think that was the division for AG started was with the acquisition of the LA Kings back in 1995 and this Vision to build an arena in downtown Los Angeles what is your car running a global company with global Brands what are you worried about well I think about macros things I think about micro sings now we’re 28,000 employees over 200 venues all over the world so at any given moment right now there’s an event going on somewhere within a show with all of those events going on I said I think a lot about Safety and Security you know it’s an extremely high priority on the macro side again I think about the economy what do you think about making sure we are you know it’s the expansion is long in the tooth and you run a company that depends a lot on discretionary income what’s your what’s your economic stress level one of the Lessons Learned is that in many ways we are rzeszut recession-resistant not recession-proof but still we’re investing a lot of capital invested so we have to be careful and selective with the risks that we we’re always going to be a growing company are our company is growing every year we’d set records and revenue and growth in the last six years with the economy we have to be careful but there is also opportunity that comes with the with some of the economic distress or or operates change the LA Galaxy and in Major League Soccer also has a slice of the Lakers you got a favor I love all my children come on I’m passionate and and our fans know they see me at every game they know that I’m just passionate as they are about the team it’s also have a vested interest in making sure that our teams are successful so in addition to it being rewarding for us to be at the games and and watch us when it’s also good for a business when we’re successful so I do I do love them all I still think he’s got a feeling I’m just saying look at ticket sales at Staples the cost of a seat for a Laker game and a Clippers game check it out marketplace.org Amazon conundrum in Reverse Amy was telling us about how Amazon’s Tech worker pipeline offering a ten-thousand-dollar relocation package with a catch get a $500 monthly stipend $1,500 bonus at the end of 12 months and other stuff as well but you can’t actually tell so you have to be employed someplace else just got to live in Tulsa has to get economic growth Marketplace is supported by Amazon web services and buy forex.com forex.com is committed to empowering and helping Trader sees opportunities in the foreign exchange markets forex.com It’s Your World Trading Forex Trading involves significant risk of laws by the financial services firm of Raymond James offering personalized wealth management advice and Capital Market expertise with a commitment to put in client’s financial needs first more at raymondjames.com Daniel Ramirez Charleston Thorpe and Ben’s Holiday Inn near the broadcast for this time, we will see you later everybody this is a Pia WNYC supporters include CBS films presenting at eternity’s gate from the natural world around him in Select theaters this Friday you’re listening to things considered series that looks behind and sickle cell on the TED Radio Hour in unexpected places it’s our Wednesday evening WNYC