Continues. Ali breland of the hill to talk about the house vote esterday to repeal internet privacy rules. Ali, so what exactly was the on . E voting what did the Obama Administration do when it comes internet. On the guest what the house voted on roll back to broadband privacy rule under sec had passed, the f. C. C. Hadnt gone into effect yet, resolution was blocking the rules from effect. Nto had they gone into effect, they would have prevented cable profiting off certain types of data, including browsing history, things you look at when you are times you ernet, what are and arent using the internet. This picture of your life online they would make money off of, which other money off re making now. Exactly . W does it work guest which portion of the rule . Host what you do on the intern has been used. Ta guest lets say you are doing to buy some s, go shoes, you go to espn, look at company has an a idea you are into football, they an go and sell to thirdparty advertisers and make mone
More than 5,000 Power Outages in cuyahoga county. Most are in cleveland heights. Crews spent yesterday clearing large trees and limbs away so the lines could be repaired. First energy is hoping to have power restored by 6 00 tonight. The power is back on in most of menor and lake county. Lets check with holly whos tracking more rain in the forecast. Couldnt get rain for the longest time. Now getting plenty of it. It always happens over an inch at hopkins. Its still so dark you cant tell. Were 30 minutes from sunrise. Were seeing breaks in the cloud cover out here. I think its going to be some sunshine again today. Also some showers and thunderstorms especially as we get into the afternoon and evening. That heat is really firing up. Heres a look at the day. Were already well into the 70s. It is so muggy out. That hasnt changed at all. Scattered storm chances. Satellite and radar show quiet weather overall regionally. As we zoom in, what youre going to see is a few showers to the east. L
In the credit markets which is why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal that gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints
Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline business ha
They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are business has been sucking capital out of the market left and right. When you read that warren buffet bought 26. 53 million shares, a pipeline giant kinder