Now the financial information that just might change your life. This is the Bloomberg Money Minute on seven hundred WLW.
Alrighty, we check in with Genie Cervetti from our Bloomberg newsroom in New York City. Wireless companies are spending a ton of cash these days on promotions there every other commercial. But apparently one major carrier just reported that it lost customers last quarter.
Yeah, you've probably noticed the ads, don maybe even switched companies. But Verizon maybe losing a step here. The nation's largest mobile service provider lost wireless phone subscribers in the recent three month period. Now, all three of the major carriers have been using costly promotions and incentives to tempt us to switch networks, but AT and T and T Mobile added a lot of customers in their latest quarters. However,
we are seeing Verizon shares hire this morning. The company beat on estimates when it comes to FiOS internet signups and also its earnings per share tom.
Meanwhile, craft Times results point to ongoing consumer weakness.
Yes, the maker of craft at Mac and Cheese and its famous ketchup is preparing to split into two. But Kraft Hinds just lowered its sales outlook, and it's struggling to sell investors on these plans to split the company into two businesses at a time when consumers have been broadly moving away from processed foods. Anyway, Tom, all.
Right, Gina, and a big day to day. The futures are right now.
Yes, we have the FED wrapping up a meeting, We've got some big tech earnings, and right now the futures look good. Dow future's up fifty eight, SMP futures up nineteen, Nasdaq futures are up one hundred and eighteen from Bloomberg. Gina Cervetti on news Radio seven hundred WLWS.
Almost apropos this tune from Genesis misunderstanding because there seems to be I don't know if misunderstanding is the right word in this case, but a lot of sort of gray area and what to understand and what not to understand, specifically about this whole sale of th drinks and intoxicating hemp products which a Hamilton County judge extended a temporary block against the emergency ban of those, and kind of enough to join us, and he's got interest in this
whole thing. There's no two ways about it. But there's nothing wrong with that. Everybody does in some form or fashion. He was kind enough to send me a message on x yesterday, and that's Scotty Hunter, co founder of Urban Artifact Beer and coach Aloe Hemp. Scotty, good morning. Thanks for the message yesterday and thanks for your time today. How's everything for you?
Hey, I'm doing great, Tom, Thanks for having me on the program.
Absolutely all right, Look, let's start with what you know most about in this thing. I don't want to necessarily get into the whole marijuana dispensary. The taxpayers voted for that in Ohio a couple of years ago. But there is a distinct difference between the amount of THC inside of a hemp product compared to something you might buy at a marijuana dispensary. Correct, let's start with that.
Yeah, that's absolutely correct. You know these are low levels of THHC. And really this all came about through the twenty eighteen Farm Bill, So hemp has a federal legal classification here in the United States, where marijuana still does not currently.
Okay, so we start with that, now, correct me if I'm wrong here. My understanding in Governor de Wines wanting to stop the sale of some of this or at least move it into marijuana dispensaries. Had to do with some of the packaging. Let's just start with some of the hemp products. Not the alcohol, I mean, not the
beer part of it with THC in it. But as far as some of the packaging is concerned that it might be trying to appeal to kids as though it's candy, Well, would you agree with him on at least that part of this, that that's a fair argument.
Oh? Absolutely, Tom.
You know, the entire hemp industry, not only beverage where I reside, advocates for sensible, responsible regulation. These items should not be targeted at children. They should have clear labeling standards and requirements. And we've seen a lot of states across the country adopt such rules already in the last few years, and we expect more and more to follow suit in the coming year.
So, you know, I think.
With what the House passed here last week and that we expect to kind of go to Conference committy next week, is Ohio was starting to move in the right direction to get some of those guardrails in place.
So I do want to go ahead.
No, no, no, please finish. I want to hear what you have to say, not me.
Yeah, yeah, I was going to say.
I think I want to really hit on the fact that it's a misnomer that this is a completely unregulated market.
You know, the state of.
Ohio has cultivation and processing rules in place. We obtained the HAMP processing license through the State of Ohio. We're viewed and inspected by the State of Ohio. The litany of protocols and tests that we have to go through to produce our HAMP beverages, frankly, far exceeds the requirements in terms of testing that we have to do for
our beer. You know, we're testing for pesticides, heavy metals, micotoxins, all kinds of other microbial contaminants and those all have to pass before we can release and sell that product into the market.
And this is the case in a lot of states.
Okay, now help me with this part of it. The THC drinks. Okay, and you have some of this in your urban Artifact beer. Talk to me about regulation in that regard. Okay. Look, everybody knows you can walk into a bar. Unfortunately it happens way too often.
We know this. You can walk into a bar. You have one or two too many beers.
The next thing you know, there are some people getting behind the wheel of a car and off they go.
They shouldn't be driving.
Talk to me about is there regulation Are we able to tell if somebody has had too much THC inside of a beer?
Well, in real quick clarification, Tom, we have clear separation between our beer which contains alcohol, and then have products which contains low.
Amount of page. We can't intermingle those and we don't.
So I think the other thing that people don't necessari understand when they're unfamiliar with this category is because it is still pretty new overall in the grand scheme of things, is that there's in terms of beverage specifically, there's a similar type of feedback.
From your body when you consume one of these low dose beverages.
So you get that relax calming feeling when you consume one of these beverage in a similar time brain that
if you drank a beer or cocktail. So in that way, you know, individuals can sell regulate, which I think we're all a fan of, but also bartenders and staff if we're talking about a bar restaurant, can observe the behavior of the patron similar to what they would with an alcoholic beverage and determine, Hey, that's you've had enough, right we give that trust to our servers already for adult use adult products, and the same thing goes with that products.
Why would give me the argument, if you wouldn't mind, Scottie Hunter, give me the argument of why hemp products should not be sold inside of marijuana dispensaries if they have any THC even though it's considerably less than normal marijuana products you'd buy in a dispensary.
Yeah, these are products that dispensaries don't want.
The cards they're not they don't make.
Sense for the space a setup there. You know, if you look at national data the whole you know, a THHD beverage, whether it's hemp baseed or you know, traditional marijuana base it's less than one percent of dispensary sales. So these products are you know, servicing a market that doesn't get served under a lot of the state and you know, regulated marijuana programs.
Is with with with marijuana?
We read so much about how there would be more money that flowed back into supporting X, Y and Z, whether it's local municipalities, mucual towns, whether it's our tax base in general. Is there anything like that in the hemp industry, Scott.
So, And this has kind of been more state by state basis, but as you put, had states passed regulation on the distribution and retail sale of hemp products, there have been tasses that have put into place. So in the in the bill that passed the House here in the state of Ohio, on the beverage side, it has an excise taxmilar to you know, beer, winder spirits, and I believe on the other categories of products, it's a retail tax that's similar to the recreational adult youth program.
Again not speaking and with the expertise on that piece specifically.
And so there there, there's that aspect of it.
And we've we've seen other neighboring states pass similar legislation with with tax income. You know, Kana tuck To is one for example, it's had a program for a number of years. They did make some updates earlier this year to their program. West Virginia has had one for a number.
Of years as well.
Those those states have already overseen had taxes in place for the distribution sale of products in their state.
Well, I would just haven't gotten to that.
Point, and I think we're gonna we're gonna get there here before the end.
Of the year.
Okay, at the end of the day, it seems to me and Scotty Hunter, you tell me if I'm right or wrong on this. The bottom line is is that people who are selling these in wherever it is that they're selling Okay, the owner of a business could be a gas station, could be whatever it might be, they have to hold up there into the bargain to not give you guys a bad name by just simply charting people.
Is that accurate? Is that fair?
Yeah?
No, that's absolutely fair. And that's you know, that's what we're asking tom right. You know what, we produce our products that are nets for people that are twenty one plus. We treat them the same as our beers when they come into our tap room. And then when we do sell into retail accounts, we asked we ask the same event.
Well, it's great, Scotty.
I can't thank you enough for reaching out and for clearing up some of this stuff out there, because I got to be honest with you. I mean, I have a hard time breaking it down. I think a lot of other people out there have a hard time really being able to understand some of the intricacies which you have been kind enough to clear up today. So Scottie Hunter can't thank you enough for your time. Hope you have a great weekend ahead.
Thanks Tom. Yeah, I appreciate the time.
And you know we'll have to get you some samples here before too long and you can get that first hand experience, you know.
All I need my daughter beating me over the head about drinking it. All right, Scottie Hunter, thank you very much. It's eight nineteen. We've got a lot of rain today. We've got some missues on the roads, Chuck. Are they getting any better from our last check?
Not?
In some spots No.
In fact, the list of accidents continues to grow. This from the UC Health Tramphic Center. With a stroke, every second counts, and so does your team home to rapid life saving treatment and clinical trials. You see health is the clear choice for stroke care. Learn more at UCHealth dot com. Heavy traffic southbound seventy five out of Westchester and continuing through Lachland on northbound seventy five, you'll need
an extra half hour out of Florence into Town. Crews continue to work with the wreck on northbound seventy five at Aser Charles and again just after you get past Town Street. That one's on the right. The latest is southbound seventy one. Another accident near Fields Eirdle that traffic slowed from just below Western Row and continues heavy to Redbank. Chuck Ingram News Radio seven hundred wlw OUR WCPO nine
first warning forecast. It used to the rain at least for about the next roughly forty eight hours today, tonight, tomorrow. Spotty showers hanging around are high only fifty one. That's ten degrees below our norm this time of the year. Normally we're at sixty one for a high. But by the time Thursday night rolls around, clouds will start to break up. The rain will end after about roughly an
inch of brain says Jennifer Ketchmark. And then it's going to be beautiful on Friday, some sunshine, few clouds here and there, but drying up for Halloween night. If you're out trick or treating or going to high school football games or whatever it is that you're doing, you'll be able to do it and not get rained.
On that sounds like a good deal. It is eight twenty one. We have the news coming up. Then at eight thirty eight we'll visit with Pastor Chad Hooven and we're going to talk about parenting, slash coaching the role of emotional closeness and structure. This is seven hundred WLW, Cincinnati.
Money, Money, Money, Better, Get ready. It's time for a big old wad of business news. This is the Boomberg Money Minute on seven hundred WLW.
The Conference Board reports that US consumer confidence fell this month for a third month in a row as consumers worry about what's ahead. Confidence remains stuck below levels seen last year as Americans worry about their jobs and making enough money to get by. Apple is preparing major changes to its MacBook Air, iPad Mini, and iPad Air lineups, with a plan to give the popular devices higher end displays. People familiar with the plans tell Bloomberg Apple is testing
new versions of each product with OLED screens. The technology delivers richer colors and deeper contrasts than the current LCD displays. The shift is also expected to bring higher prices. Stock start out at new record highs today on Wall Street after yesterday's gains across the board, tech is helping to power those gains, and investors are betting on an interest rate cut from the Fed today when it wraps up
its meeting. They'll also be paying close attention with Chair J. Powell holding a press conference afterward from Bloomberg Genus Cervetti on news Radio seven hundred WLW Our.
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Door and Window details at adoorsales dot com. We do it every single Wednesday. We get together with our buddy pastor Chad, the lead pastor at the Horizon Community Church in Newtown, right on the banks of the Miami River.
Good morning, sir, how are you today?
Yeah?
I'm doing great? How about yourself?
Doing all right?
Little rainy day, but I had some wonderful, crisp fall day coming up. Doesn't get nights last couple of.
Weeks, absolutely, and it looks like we're gonna have some good ones over the weekend after some rain today and tomorrow and clearing up apparently tomorrow night. You know, in the news a lot lately, and there was a big story that's on going up in Waynesville, Ohio about a man who's been an administrator there, a coach for forty seven years, or an athletic director, and now all of a sudden, people sort of I guess, for lack of a better term, coming out of the woodwork some thirty
plus years later about inappropriate behavior. Whether it's true or not, we don't know. But it is an ongoing, big story in Waynesville, and it brings to mind the role of not only coaches, but also parents. And you know, let's start with parents, because I heard a lengthy, well what's a word, a sermon for lack of a better term, I think it was from Chip Ingram the other day talking about, you know, structure in the household and closeness.
So let's start with parents.
It seems to me a lot of the parents that I'm around right now Chad Hoban want to be a friend of their kids, can be friends of their young kids.
Well, I guess it depends on how you define friendship. I mean when I first had my kids, when I were first born, my vision statement for my parenting was a fifty year friendship with my kids. However, that doesn't mean every stage you're accommodating to them or acting like they are moral equal. But my goal is to raise kids who would be you know, responsible adults, would have the tools they need for that and have the emotional closeness so that we would have a fifty year friendship.
So I'm not sure it's either or, But if you define friendship as a lack of structure, a lack of discipline, that I'd say you're missing out. It was a study in Minister years ago called the Minnesota Study, and they raided on an X and Y axis what's needed for parenting, for coaching, for mentoring in any relationship, and that was structure on the Y axis, and it was emotional closeness
on the X axis. And strangely, they found that parents and coaches who had high emotional closeness I care about you, I love you, I appreciate you. They had all emotional closeness, but no structure, no discipline, no calling to account, no accountability. Strangely, the parents who had the most emotional closeness but the least amount of structure without any at all. On the other side, they raised the most insecure kids, which you think would be the object.
Now.
The other contrast was those who had high discipline. I'm not listening to your perspective. Your voice hasn't heard. I'm not trying to understand the whole side, but just disciplined discipline, discipline. I'm the authoritarian. I make the rules and you obey it. Those parents raised the most rebellious children because they had all that structure. But the minute that structure was gone, there,
out of there. And it's actually a little verse in the Bible that says, where the law increases, send increases even more. You've probab see in your own life, you're walking along on a path. Suddenly you see a sign that says stay off the grass. I wasn't even thinking about stepping on the ground. Show that I see design. I'm like, well, maybe I want to. So Really the key is not rules for rule's sake, but how do you teach principles? I would say all the time, I
got a little inner rebel in me. I've never found a rule I didn't want to break, but a principle I don't want to love. So part of coaching and part of parenting is trying to teach this principle behind this application is so important. It's important to your life. It's going to serve you well. And so what we want to do is we want to combine emotional closeness and the structure and discipline, because those who actually combine both of those raise the most secure children. And same thing.
In a boss situation, you say, Wow, my boss really loves me, but man, this place is run an incompetent way. People getting away with murder around here, and there's no accountability. What you're calling for is some degree of structure increase. Other times you have a boss or situation where it's like, man, you know this place is run well, but I think I'm a cog in the wheel, and no one cares about me. No one asks about me, no one ever says anything nice about my contribution except the once a
year when I do an annual review. So how do we combine both those things. And I think if you are a person who's been coached, you realize the benefit of coaching. You know, whether your parent did well or coached well, or the other side, you weren't coached well, or you weren't parented well, you felt a deficit of that. Man, you know what I want to do better than what was trusted to me. That's really what a coach does. It creates a whole environment in a family, whole environment
in an area of your company. Who can't control the whole environment in your department, you see, I want to coach people who can coach people to coach people. I think about like a parenting. I want to coach my kids so they end up being able to coach my grandkids, so they can coach my great grandkids. It's a culture of humility, it's a culture of teachability. I mean, I've been a public speaker now for I don't know, forty five years if you take the time back when I
was on stage and doing plays and stuff. To be a professional communicator, and every week I have six people critique me because I know I watch my videos every single week because I want to be communicating and doing my best work next week, next month, next year, not last week, last month. But that requires humility. It's not well, you know, I've got a covered bob. You know I've learned a lot, but other people are going to see
things I don't see. Doesn't mean I always jump at all the feedback on hundred percent, but I want to be open to feedback. I want to be open to other perspectives so that I can be my best. By having the proverbs in the Bible, sysm sharpens iron. We need other people to sharpen us unless we get dult.
You know, one word, and I've read that Minnesota study, one word that seemed to creep into the conversation quite a bit. That seemed to be, if not the most important word in all of that. Now, I'm going to talk specifically for a second and ask you about parenting has to do with the word obedience and how you know, Look, you're trying to raise your kids, and look, whether you're a deeply spiritual person or not, is to get them
to understand. And this is where we see in society so frequently now where either parents aren't doing it, parents aren't around, and all of a sudden, kids just don't understand the importance of obedience as they are growing up, and then perhaps from a more spiritual standpoint, then obedience to how they live.
Is that fair?
I think it's very fair. In fact, I always say, you don't break God's laws, you discover them. You want hey, in the same way, it's not just spiritual things. But you don't break the law of gravity. You discover the law of gravity when you think a step off of a building. And so the same way. If a child doesn't learn that there is structure and there's truth, and there are things that you need to submit, subordinate yourself too, then you're gonna be in trouble because, hey, I finally
got rid of mom and dad. Well, you still got a landlord. I've covered my landlord. Well, I guests, but you still have roommates, you still have a boss, you still have These are principles that apply in every area of life. And if you think you can circumvent reality, like the hang glider can temporarily circumvent gravity, but you're eventually going to go down. And so you want to say, I'm teaching my children how to deal with life. Part dealing with life is dealing with truth. The part dealing
with truth is understanding. I need to subordinate, subordinate myself to the truth here. And so as a parent, you want to teach first time obedience. Yes, there's a place for negotiation. Yes there's a place for appealing, and what we can talk about that to as a parent, But we need to start with if dad or mom tells you to do this, I want your first thing you say is I'm gonna do it. I'm going to call
you to first time obedience. Now, of course, none of us are really good at the head, and that's why as a parent, you're a teacher. And I think a lot of people think of themselves as you know, generals or drill sergeants's parents. But the primary role you want to see yourself as a teacher. So if your child is not giving first time obedience, how can I teach them that? How can I show what the consequences that they don't but also lovingly teach what it looks like.
Then also say, now, when you're characterized by first time obedience, there is a place to respectfully disagree, But we don't teach that either. How what does it look like to respectfully disagree? Well, after you say, dad, I'll do it. It's okay. The next day an hour later to come up and say, can I talk to you about something dead? Or even in the phrases we taught our kids is can I appeal? Sometimes answer is no, you can't, that's not on this one.
Yeah.
Other times it's yes, you can appeal. On this one, I'm willing to listen. I'll give it a second listen. And many times I came back and changed my mind. I came back and apologized by the way I handled it because I wanted to demonstrate to my kids not only do I want them to be teachable, but I want to be teachable, and so I think you can combine both those things. The question you want to ask yourself as a parent, to coach a boss is am
I living an imitatable life? Like when people see how I'm leading, how I'm acting, how I'm parenting, would your kids say, you know, Dad's not perfect, but he owns it when he's not. That's an imitatable life and that's what a coach does.
All Right.
Before I let you go, though, I want to ask you. You know we get into vicious cycles, right, you know, over and over. Okay, let's assume for a second that you were a kid who didn't grow up with a lot of these things. Maybe you didn't get a lot of love, Maybe you didn't have a lot of structure. How do you change that so when you become a parent it's different.
Well, you know, I just read a great story the other day about the movie Maverick with Jodie Foster and Mel Gibson, and mel Gibson kind of lost his temper on set and and Jody tooka this good chemistry. After you saw Maverick, it was pretty cool. A little movie with James Gardner, and he gets all upset, and you know, he comes back to the next shot and he knew he'd stepped in it, and he bought her some flowers and he wrote her a note and he said, I was raised by a man who taught me to fight first,
but I'm trying to be a better man. I'm sorry there's somebody who acknowledges I didn't come with all the tools I needed, and certainly mal gives them got the whole train wreck of bad decisions. But he's trying to make progress. And I think that's what you want to do as a parent, to say it's not perfection. I'm pursuing progress, and I tell you that grace goes a long way. When you come back and your kids for the first time in a long time here you say,
you know what, I could have handled that better. So like, oh, my goodness, the kluephone is going off and my dad's answering it. The kluephone is breaking in my mind. Answer this same thing you think with your kids. You're like, yeah, my goodness, the son the klophone has been ringing for like six months. It's founding on your door and it's going to be painful if you'll pick it up. So again, you want to model the same thing. It's okay to say I'm not good at this. Guys, you know I'm
not good at this. You watch me every day. But I want to at least be better at this. And you'd be amazed at the forgiveness and grace people give each other when they realize you're at least trying to aim in the right direction.
Great stuff, as always, Pastor Chad Hoven can't thank you enough for your time and hope you have a great rest of your week.
And uh and thanks as always, sir. Great talking to you.
Sounds good.
Talking Pastor Chad Hooven, always great talking with him, always incredible wisdom.
Every single week. We call it plain glass, stained glass.
All right the roadways, Chuck Ingram, have things gotten better at all? Only in a couple of spots, and unfortunately in a couple of other spots worse. This from the uc Health Triumphy Center with a stroke, every second counts, and so does your team. Home to rapid life saving treatment and clinical trials. U sea Health is the clear choice for stroke care. Learn more at ucahealth dot com.
Northbound seventy five is that spots low out of Florence into downtown where there is an accident near Ezerd Charles. The left three lanes are currently blocked off. Cruise are also working with a wreck on westbound Fort Washington Ways ramp to the sixth Street Viaduct. Further north on seventy five, a wreck above Mitchell and at Town Street one on the left, one on the right, and east bound two seventy five, a record seventy five in Sharonville's backing traffic past seven forty seven.
Chuck Ingram, News Radio seven hundred w WELW.
Alrighty our WCPO nine first Warning forecast resented by Jennifer ketch Mark. It's a whole lot of rain, up to an inch total by the time we get through roughly tomorrow night. Supposed to rain most of the day today, most of the night to night night, most of the day tomorrow. Our high's only at fifty one degrees, which is ten degrees below our October average on a yearly basis. By tomorrow night, we're getting down to thirty nine, but the clouds will begin to break up, the rain will
get out of here. We're going to dry up by the time we reach Halloween Day, and it looks like Halloween night is going to be quite pleasant. And that means high school football, playoff football, that kind of thing going on. So should be in good shape by the time the weekend rolls around. Before we say goodbye, we always ask you to think about making a shelter pet part of you and your family's lives. I promise you they need it, You need it. This is seven hundred WLW, Cincinnati,