Global business news twenty four hours a day. If Bloomberg dot Com the radio plus mobile lapt and on your radio, this is a Bloomberg Business flag Broom, Bloomberg World Headquarters. I'm Charlie Pelotondal the SMP Nestak. They are all trading Laura right now. And this update is brought to you by Sector Spider e t F s Why by a single stock when you can invest in the entire sector.
Visit sector sp d rs dot com recall Sector e t F. Now right over to the First Word Breaking news desk for today's afternoon call, and here's Bill Maloney. Good afternoon, Charlie. Stocks are under pressure again today, with the Dow currently down a hundred and fifty two points, sysipes drop seventeen and AzaC falls forty three, small cap six hundreds down seven points, and the US ten yield
at one point five nine percent. Up of markets were also under pressure today, with Jeremy falling two point two percent as Deutsche Bank felt to a record low back in the US, ten out of eleven sub sectors are lower, led by losses in financials, healthcare, and consumer discretionary. Only a real estate gained doubt transports drop fifteen, utilities fall point Nazabottex sink thirty six, and the vix is higher
by seventeen percent. Litersted a downside in the down included Japing, Morgan, Goldman, Sachs and Fiser with fractional gains and Procnant, Gamble and Apple, and finally another news. Disney is said to be working on a potential Twitter bid. Disney is currently down one point six percent. Live from the first to breaking newsnest On, Bill Maloney, Charlie all right, thank you very much, Bill Maloney, and again recapping SMP down seventeen the drop of eight
tenths of one percent. I'm Charlie Pelt. That's a Bloomberry business flash. You're listening to taking stock with Pim Box and Kathleen Hayes on Bloomberg Radio. Were are broadcasting live from midtown Manhattan from the offices of Eisner Emperor where they are all preparing for their fourth annual Real Estate Private Equity Summit. It takes place at Pier six Steve
this Wednesday. Pierre sixty, of course, down at the Chelsea Piers, and that an example of a original use that has been supplanted by a more modern news for real estate. And here to tell us about the modern world of real estate is Charles Weinstein. He is the chief executive officer of Eisner Amper and he joins us. Now, thank you very much for housting us here, thank you for having me tell let's let's let's talk about sort of
the role of Eisner Emper and real estate. Many people may not know that you have a practice that involves not only sort of managing real estate, but also managing investments in real estate and helping people understand what is appropriate,
uh for for their businesses. Tell us about Eisener Emper's involvement. Sure, you can think of Eisner Emper as a resource for the real estate community, so providing advice, providing tax advice, deal structuring advice, and perhaps more importantly, you could think of Eisener Ramper as a connector in the real estate community and helping facilitate transactions. And that's a big part of the conference of our real Estate summit that we're hosting on Wednesday. So what does it take to compete
your your company? You you're you're growing, you're expanding. What does it take to well compete? Isn't there a lot of a lot of other people who want to grab some of the same business you do. Competition is fierce. Competing is all about people and resources. Eisener Ramper has great people and great resources, and that that is really
what helps us compete in the marketplace. Folks like Harry Doblinsky and Lisa Knee and Ken Weisenberg just so well connected in the community, helping in our clients connect amongst themselves. It's great people coming up at the actual event. You've got Sam Zell on Wednesday. Just give people a little flavor of what you think Sam Cell might might say. Well, well, great people indeed, And I would not even venture a guess at what Sam's l might say, so, well, we'll leave.
But he is is he as regarded in the real estate industry by the real estate professionals as he is from outside investors from outside the industry. Absolutely, he is someone who's amazingly well respected and ahead of the curve at every curve. And he is certainly known for being outspoken, like someone's gonna speaking on the national stage tonight, Donald Trump. And the reason I bring up the debate Donald Trump and Hillary Clinton is because you guys specialize in taxes.
You know prospects for tax reform. I won't pin you down on the two candidates if you don't want to be pinned down. But what are you hoping for? What are you worrying about when it comes to TAXI from Charlie, So, uh, tax reform is good for accountants. Anytime there's a change in tax laws or perspective change in tax laws. Our clients have a desk it need for us to help
and advise them. So tax reform is good. I'm unsure what tax reform we're going to get, and we'll have to wait and see what this election result is going to be, but certainly going to impact the markets, and in particular could impact the real estate markets. If we see that there are potential increases in tax rates, you may see a significant acceleration in transactions. Well, I'm just noting from many of the bios of the people that
will be attending your event. If you've got the chief investment officer managing director for the real estate group of Goldman Sachs, for for example, tell us about some of the other people that we're going to be able to look forward to hearing from. So one of the things sticking to the political theme, is we have what will be a candidate for New York City mayor. Mr Massey will be a candidate for the mayor and will be interviewed by Catherine Wilde, who is the CEO of the
Partnership for New York. So we could have some very exciting things come out of our conference on Wednesday. What about fintech and all the things happening on that side, peer to peer lending, etcetera. How does that affect you? Does it help your business as it hurt your business? Fintech is great for New York City, So fintech is just another area of growth. Job growth in New York City has been really strong, led by certainly by fintech in the technology space in New York. UM, so we've
been strong and those are practice areas for us. Will we also have great expertise, so the firm goes beyond real estate in many ways. The financial services industry is our largest segment. Technology is our second largest segment inside the firm. Is it ever going to get easier to do your taxes? My wife does my taxes, so for
me it's easy. That's that is easy. Quick final comment on advice to anybody who wants to get into this industry, Into this business, Charlie, which business, Oh listate taxes, Eisenery, emper, all the above. So um, there's it's always a good time. To my view is it's always a good time to go into any business. Quite frankly, there are always opportunities to exploit. There are always weaknesses in the marketplace. I'm always bullish on entrepreneurship. And he's must must be working
for Charles Wednesday. He's chief executive officer Eisener Amper l l P. We're broadcasting live in fact from his offices here in Midtown Manhattan, head of the annual Real Estate Private Equity Summit this Wednesday for Eisener Amper Bloomberg Taking Stock is brought to by New York Presbyterian Lower Manhattan Hospital, located at one seventy William Street. It's part of the number one hospital in New York. Learned more at NYP dot org slash Lower Manhattan