My name is Marcus Lemonis. And i risk my own money to save struggling businesses. Were not going to wake up every morning wondering if we have a job. Were going to wake up every morning wondering how many jobs we have to do. Its not always pretty. Everythings going to change. Everything. But i do it to save jobs and i do it to make money. This. Lets go to work. Is the profit. In 1979, shortly after immigrating to the United States from mexico, Gilbert Martinez opened up Pacific Hospitality design, a commercial Furniture Manufacturing Company located just outside los angeles. Ana so far, so good. Thats good. Lemonis it was a true Family Business with gilberts daughter ana growing up on the shop floor. Ana this one here. Lemonis these days, she oversees design, while her father oversees production. And over the years, theyve built big accounts with Companies Like the coffee bean, mgm, and caesars entertainment. Ana weve got to make sure that we send quality stuff. Theyre unhappy because
Quickly lets check on the boards because we are seeing its all about what janet yellen will say later on at harvard university. Index practically unchanged. They are waiting for chair yellen to speak. Streak. Pping a 7 day lets get straight to first word news. Major economies have strengthened the resilience to avoid falling into another crisis. Also says that Monetary Policy is not enough for spurring growth. Abe failed in his bid to have leaders warn of the risk of a after heonomic crisis presented documents indicating there was a danger of the world careering into the crisis on the crisis of the 2008 lehman shock. Out china asdged the worlds secondlargest supplier of external credit in a decade. Japan, the top creditor since 1991 remains in cold position. Stay with japan, Consumer Prices have dropped for a second months. Insumer prices fell 0. 3 april. The lack of growth will intensify pressure on the bank of japan to consider further monetary stimulus after governor kuroda disappoi
225 down. I will have more on the Market Movers shortly. Fears are starting to send investors looking for assets overseas. We will get to that story in a few moments. I want to tell you about the killing of 50 people in a gay. Ightclub in orlando it has opened another debate about guns and the United States. President obama says the massacre was an attack on all attack of an terrorism as well. We have yvonne man following the story. What are we learning about the killer . The gunmen was omar mateen, a 29yearold u. S. Citizen, born in new york. He did live in florida. Those who knew him say he was a bodybuilder, religious person who at one point thought about joining the police. Callbi says he made a 911 before the attack on the pulse nightclub. He allegedly made comments to coworkers about links to terrorist groups. The following year, he was again investigated but nothing incriminating was found. He worked as a Security Guard since 2007 and despite official suspicion was able to legal
Lacqua with tom keene in new york. Tom it is a quieter economic day after the festivities with janet yellen yesterday. Give us some perspective on that better than good number. it is better than expected but only a touch. First quarter gdp growth has been revised up, but i think what we worry about in europe is that we are becoming a little bit like japan, that we need to get used to this Slower Growth rate. We will get paul donovans thoughts on that, but lets get to the bloomberg first word news. Istanbul, a car bomb targeting a police video has killed 11 people. Seven Police Officers are among the dead and no one has claimed responsibility. Two new opinion polls show the u. K. Referendum on leaving the European Union is too close to call. The poll for the Daily Telegraph says 48 of those definitely planning to vote are in favor of staying in the eu, with 47 wanting to leave. Another poll conducted by the times has the remain forces tiered, 43 to 42 Hillary Clinton now has enough dele
Something to ponder. This morning usa today led its money section with a stunning story about how onethird of the cash is that the Balance Sheets of american businesses is held by just five companies. Five companies. Thats incredible. What i think is even more amazing is that the stocks of those five companies are doing quite poorly. Down almost 3 on average. Not only that but the quoims the ten largest arent beating on average either. Why is this . First generally speaking, for the most part, the cash heavy company are beating the slower value place. Second, it cant be repatriated without paying big federal taxes. There is good news believing they would final it. Third. There are companies specific issues with each of these stocks so we have to address them one by one. Let me name the five kings of cash explaining the sub optimal performance. First is apple. Down 8 year to date. Despite having more than 233 billion in cash. Apple used to be a great growth stock but the market has deci