Posts filed under “Video”
On Wednesday, Dow Chemical Chief Executive Andrew Liveris made a high-profile announcement that Dow would
increase its prices by as much as 20%, starting June 1. Dow, the top
U.S. chemical company, said the plan was necessary to offset the impact
of rising costs for energy and related raw materials. Over the past
year, Dow has already increased its price by about 12%, but
those price changes have been phased in gradually rather than
implemented all at once.
In the interview, Liveris said he thinks the U.S. is underestimating
the level of inflation in the economy and he expects the rise in energy
costs is beginning to destroy demand. Liveris expects the price increases his company made will eventually be passed on to the consumer:
Andrew Liveris on CNBC
"I do think we’ve hit a raw nerve," Liveris said in an interview on
CNBC’s "Squawk Box." "I do think, out there in the world that we all
are living in, I think the consumer is screaming, and I think it’s the
topic du jour, and every company is in a different part of the value
"We’re in a part of the economy that is very elastic," he said. "So unlike electricity, or unlike transportation, which up until now has been relatively inelastic, we’re getting demand-destroyed."
Liveris estimates Dow uses about one percent of the U.S.’s electricity to make its products, which become components of other consumers goods, and the equivalent of about one million barrels of oil a day.
"We’ve done everything at Dow to be cost-efficient, energy-efficient," he continued. "We’ve diversified our mix. We’ve gone overseas for low-cost joint ventures. I think everyone has to bear some of this out-of-control energy policy."
Dow Chemical CEO Says US Underestimating Inflation
CNBC.com | 30 May 2008 | 08:14 AM ET
Martin Feldstein, an economics professor at Harvard University and president of the National Bureau of Economic Research, talks with about U.S. first-quarter gross domestic product, the outlook for Federal Reserve monetary policy and potential legislation to help homeowners avoid foreclosures.
click for video
Feldstein Says U.S. Economic Indicators `Pointing Down’
Bloomberg, May 29 2008
Eli Broad, founder of homebuilder KB Home
click for video
U.S. home prices likely will drop another 10 percent from their peak before the housing market begins to recover, said Eli Broad, founder of Los Angeles-based homebuilder KB Home. "Every housing market’s different, but you can expect housing prices to continue to decline in most markets for the next year or so,” Broad said in an interview from Los Angeles with Bloomberg Television.
Sales of previously owned homes in the U.S. fell 1 percent last month and the supply of unsold properties reached a record, the National Association of Realtors said last week, signaling a continuation of the 27-month housing slump. The median price of an existing home fell to $202,300 from $219,900 in April 2007. "I think we’ve got probably another 10 percent to go” from the price peak reached in 2006, Broad said today.
Broad said the U.S. economy is "in a recession no matter how you want to measure it,” and recommended that investors put their money in the energy industry, multinational companies with the largest stock-market capitalizations, and emerging economies such as Brazil, Russia, India and China. The return on U.S. stocks likely will "be in low single digits” this year, he said.
KB Home Founder Broad Says U.S. Home Prices Will Drop 10% More
Matt Miller and Daniel Taub
Bloomberg, May 28 2008
As per the prior post, here is the video feed, parts I & II:
I still don’t understand why being Bullish on Energy, Agriculture and select Tech is so hard to get — I ran out of time, otherwise, I would have mentioned we were short AIG and Monster.com (MNST)
Airtime: Wed. May 28 2008 | :07:0 08 ET
An outlook on the markets, with Ken Heebner, CGM Focus Fund; Jim Lacamp, RBC Dain Rauscher; Barry Ritholtz, Fusion IQ; and CNBC’s Larry Kudlow.
Airtime: Wed. May 28 2008 | :21:0 08 ET
An outlook on the economy, with Joe LaVorgna, Deutsche Bank; Peter Morici, UC Maryland business professor; Jim Lacamp, RBC Dain Rauscher; Barry Ritholtz, Fusion IQ; and CNBC’s Larry Kudlow.
The Financial Times had a three part (15 minutes) video interview with NYU Professor Nouriel Roubini last week. You can find this interview on the FT Video site or via YouTube below.
Roubini discusses his outlook for the US economy, housing and mortgages; the prospects for policy action.
Nouriel is a cheerful as ever. But before you dismiss him, note that he has been very right on Housing, Credit and the Economy:
U.S. Consumer Sentiment Decreases to 28-Year Low
Bloomberg, May 16 2008
Another good Friday on CNBC — excellent guests, discussing real issues, and in great detail.
Like the interview two weeks ago with David Einhorn and William Ackman, this shows how good finacial television can be when a smart guest discusses weighty topics with sufficient time to go into details beyond bumper sticker.
I don’t think the videos have as much Walker as they did on TV . . .
Discussing the state of private equity, with Pete Peterson, The
Blackstone Group chairman/co-founder and David Walker former U.S.
Perspectives on the economy, with Pete Peterson, The Blackstone
Group chairman/co-founder and David Walker former U.S. Comptroller
Video: David Einhorn, Greenlight Capital, William Ackman, Pershing Square Capital