15 an hour. The increase would take effect by 2022. Toernor brown is expected sign the measure. Global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. Im Mark Crumpton. Bloomberg west is next. Cory im cory johnson, in for emily chang. This is bloomberg west. Thousands lining up to drop a grand on the car they still have not seen. We will look at the review of the tesla model 3. Fitbit shares up today. Interesting data about how people are using their fitbit. Problems, and title is definitely one. First in the league, tesla taking reservations for its massmarket vehicle. People around the world lined up down 1000e to put on a reservation. They would not take reservations online, only in lines, until after the close. The car will not be in full production until 2018. They are still taking those deposits. Out musks master plan laid a decade ago, to enter the market on the high end, then drive down the market as fast as possible to highe
That hype. Making our call of the day. Its founder with us live today from miami. Ronnie, welcome to the program. Thank you for having me. Regards to mario. I just met his son a few weeks ago. Why make this call . The valuation is completely disconnected from what my analysis is showing me. The market is treating tesla as if its the equivalent of a gm or ford when, in fact, the revenues for ford and gm are 20 times what tesla is. On any me tritric that you look it the market spriesing in a best Case Scenario disregarding all the threats and concerns that i have looking out a few years and i think that a lot of the recent buying was fuelled by Short Covering and if you look at what happened the last time the market collapsed in january, tesla when down to 150 a share when the high pe names went out of favor. Are you doubtful that they can produce the number of calls they think that they can . Or that these amazing order which is they have been over the past week for this new model 3, ar
Smell the fire from here. We are about 15 miles south of Fort Mcmurray. The winds have changed making these masks necessary. We also have developments from the oilsands just north of Fort Mcmurray, rear learning that reuters that Conoco Phillips is the latest company to shut some of its operations in the region and learning from Canadian Press that oilsands executives are worried that the wildfire could create gaps in the northern alberta power grid. That would lead to more closures of operations in the region. This is a developing story. Officials say that the situation and conditions remain extreme and winds are helping to spread the blaze. Still we are about 15 miles south of fort muck murray where the fire began. Well continue to monitor. Woo currently on highway 63 i think were having trouble with her mike. Thank you. That sparking a big reaction in the oil markets. We are actually off the lows of the session. What needs to be ton to contain that massive blaze . Joining us on the
Numbers here tomorrow. Apples worse day in seven months. Apple now moving higher in the premarket. Yum sales take a hit in china after food safety scares, numbers from costco, and nevada lays out the welcome mat for musk, the 5 billion factory going to the desert. Ecb cut Interest Rates to new record lows in effort to ward off deflation, lowering the rate by a tenth percent, and its rate on bank overnight deposits to negative. 2 . The president says the bank will purchase asset backed securities, and here in the states, adp says prooifts sector hired 204 thourks worker last month, below forecast, and the big jobs number, of course, tomorrow. Europe is the story. For those of us not well schooled, what does this mean . What this says, i think, is the german hold on the european economy, hoover style, worry about a balanced budget no matter what is broken by draghi who will take rates whatever it takes to get the economy moving. Germany, exact opposite. People are quick to say negative l
I mean justices alito and thomas were making a point about the Supreme Court hearing disputes among states not the merit of this case. I think wed have been better served if the full court had said more. Such as when judge stefanos bibos of the Third Circuit appointed by donald trump recently overturned trump efforts to overturn election results. And he wrote voters not lawyers choose the president , ballots not briefs decide elections. Challenges of unfairness are serious, but calling an election unfair does not make it so. Charges require specific allegations and then proof. We have neither here. Or when at the u. S. District court for the middle district of pennsylvania judge matthew brond, a former Federalist Society member wrote this in his opinion. This court has been presented with strained legal arguments without merit and speculative accusations unsupported by evidence. In the United States of america this cannot justify the disenfranchisement of a single voter let alone all t