Global business news twenty four hours a day at Bloomberg dot Com, the Radio plus mobile LAP and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters. I'm Katherine Cottery. We checked the Marcus every fifteen minutes throughout the trading day. Let's go over to the First Word Breaking news desk for today's afternoon call with Bill Maloney.
Bill cately lowered by a hundred and three points, subs drop sixteen and NAZAC is lower by forty one, small cap six hundred drops six points, and the US ten yield falls to one point eight two per cent. Nine out of tennis V sectors are lower, led by losses in healthcare, technology and the materials small gains and consumer discretionary down. Transports are down a hundred and twenty points and as a biotext to client one, and the VIX is higher by ten percent. Down Leaders to the downside
included Walmart, Intel, and Cisco, ump Nike led to the upside. Stereocycle, Seagate, and Western Digital all plunged following their earnings, while Monster Beverage gained as much as fourteen percent after its results Live in the first Breaking new staskom bow Maloney, Katherine, thank you Bill and to hear love breaking news over your Bloomberg type s q u a k on your terminal oil fell from a five month high as an increase in opet crude production is seen swelling global stockpiles
West tyxas intermediate crude oil currently up six cents of barrel trading at forty six oh eight spot, Bolders up twenty eight dollars, thirty cents he ounce at twelve seventy and the tenure treasure up two thirty seconds with the yield of one point eight one percent. And that's a Bloomberg business flash. We're taking stock blue looks, life, stocks, bonds, real estate. I've got houses in l A, Paris and Fall.
It's good to be gain. You've been living in a label much if they got the fine at chefs around waiting for you to pace your order, you must be rich, honey. He then you nobody have two tle Bloomberg taking stock the lux life on Bloomberg Radio. Well, you may have more than two television sets. Perhaps you have a wine cellar, or even a bottle of wine or a bottle of
Screaming Eagle, quite expensive wine. Or perhaps you were putting down hundreds of thousands of dollars for a seventeen eighties seven Lafitte owned once upon a Time by former President Thomas Jefferson. What do you do? Do you take the cork out and suffer the consequences? Not? According to my next guest, Greg Lambrecht is the founder and the chairman of Corvin. They're based in Boston, and he joins us here in the studio. Greg, thanks very much for coming
in my absolute pleasure. Now you have a device that you have carried with you, and I'm not sure whether you're going to do surgery with this device or whether it is connected to wine. I have a feeling that the latter is more appropriate. Explain how the two might even go together in your case. Sure, so this is a whole lot less painful than surgery. But I do work in medicine, and actually that's where the idea of
Corvin came from. In medicine, we take a needle and we go in and out of medicine bottles all the time. It's no big deal. But in in my home life, I was finding that I was drinking wine but not necessarily finishing the bottle. And in particular, when my wife became pregnant, she stopped drinking completely. So now I had
nobody to share my wine with. So what I was looking for was a way that I could drink a glass of wine from any bottle that I owned without having to think about when I was going to drink it again. So I came up with the core of an It's essentially a small handheld system that allows you to pass a needle through the cork. You press a trigger and we injected inert gas into the bottle. That
gas pushes the wine out. You can pour as much or as little as you like, and when you remove the needle from the bottle, the cork is elastic, it receals and you can drink it again next week, next month, next year. So uh, of course, as many of us know of the bottle opens good bottle something, it's hard to want to stop drinking it. But but I think it's at slutely clear that there are many times like that one. So it might have a great bottle of wine and they're not going to break the whole bottle
at once. So this is a great device. Let's start with the price. How much is gonna cost me to be able to open a lovely bottle of wine and not worry about it not being just as lovely when I go back in a day or two for another glass. I think of it as more of an investment. You buy corp of it once and you can use it over and over again. So it's we have two different models.
The original model that we launched, Model eight, is two dollars, and then we just launched Model to Elite much more for the home use that is three d and forty nine. How did you do it? How else? That's really some of the steps, because I mean, this is a piece of highly machined uh medal and I'm wondering how did you put together the financing and how long has it taken you to got it to this point. So I'm
actually an entrepreneur by trainings, I work in medicine. I've started a number of different medical device companies, and I'm also an inventor and I've been focusing on un medical needs since i was three years old, so twenty three
years ago. Um Corwin really came out of my own need. Basically, the invention was to solve my own problem, which was I wanted a great glass of wine every night of the week, and I actually wanted restaurants to be able to serve better glasses of wine to me than they were serving because they were worried that they would have wastage. So I came up with the idea a long time ago, and of course I was running my other medical device companies, so it was sort of a pet project for me
at home. I developed it over the course of a period about eight years where I was testing different gases, different needles, different wines, different vintages to see what what combination was perfect and would preserve the wine perfectly so I could drink it five years later and it wouldn't be changed. I had enough friends that sought in my home that wanted one where I started to make a few a week, and I realized that this wasn't just my problems. Other people had the same problem. So I
could I could turn this into a company. But so I knew how to raise money from my my medical device businesses. But I knew that I was not a consumer products guy. I'd never really had any experience in the field. So when I started the company in two thousand and eleven, I was very fortunate to be able to bring on a CEO who was really a true expert in consumer products, and actually that was Nick las Arris,
who had built Curing from the ground up. Nick, uh together with some money that I was able to raise, was able to make Corvin a reality. Companies are only as good as the people that you bring in. Uh. Nick was spectacular. I brought him out of retirement. Uh he said he wanted to change. He changed the way people drank coffee. Wants to change the way people that drink wine. Uh So I thought it was really a
perfect combination. And I've just recently Nick went back into retirement, brought on Fred Leavy, who ran an espresso uh So, really spectacular team of people up at Corvin made this a very real thing. Quick final question. You are a doctor who's an inventor and entrepreneur. Give us a word of advice to anybody who's I've got a great idea. I want to do what he's done, you know. UM. The biggest piece of advice as people people with the experience and know how to do what it is that
you want to do. There's often a desire amongst inventors to do it entirely on their own and it's to maintain ownership and frequently that stops them from actually getting it to happen. You want to bring on great investors, great employees, great CEOs, a great team to make it real and focus on those things that really addressing on met need. That's the biggest opportunity. Greg Lamberick, thank you so very much. I want to get one. I really do.
Found her and Shairman of Corvin. You can check him out online, open the best bollow line on the shelf and you can still drink more tomorrow or the next day. This is taking Stock on from the radio. Coming up on taking Stock after ten years running the world's biggest publicly traded oil company. Excen Mobile chief executive Rex to listen. That's some bad news for shareholders. We've got details coming up.