Broadcasting live to New York, Bloomberg even to Washington, d C. Bloomberg to Boston, Bloomberg twelve hundred to San Francisco, Bloomberg to the Country series Exam General one nine and around the globe the Bloomberg Radio Plus app and Bloomberg got gone. This is taking Stock. Coming up on taking stock, Oh Great one, A little story about the awesome power of recognition. We're gonna be speaking with David Novak. He is the
founder of Oh Great One, O g OH. He's also the former chief executive and the chairman of Young Brands. We're gonna get some detailed information about using the awesome power of recognition throughout your business career. But right now, let's check in our business news with Charlie Pellett in the Bloomberg news room. And I thank you very much. Pim Fox stocks fluctuating him at a slump in technology shares,
Apple down two point one percent. Apple now at ninety dollars fifty five cents, did trade below ninety dollars today, Oil staging a rebound in afternoon trading. Crude oil up fifty up twenty five cents now fourty six forty eight on West Texas Intermediate, that is a gain of six tenths of one percent. Investors are awaiting additional economic data for clues about the health of the U. S economy tomorrow morning, eight thirty am Wall Street time. We do
get a reading on retail sales. Now, what about the trading session? What about the overall market and the outlook? Michael Purvis is chief global strategist at Wheedon has been sort of gyrator gyrating around the center of gravity of right, which is was resistance now support maybe both um the UH and this, this this sideways consolidation trend doesn't seem to have a you know, an obvious near term catalyst to really go, you know, TV we got to new highs or do we you know, roll roll back over
as a lot of bears would continue, we would. And right now, the SMP five indecks at twenty sixty seven, up by point one percent, the Dow climbing third nine points, up two tenths of one percent, and as stacked down thirteen a drop of three tenths of one percent. Coal stores down nine point two percent. Coal's following department store arrival. Macy's in posting week results today bringing a second day
of suffering to many retail and apparel investors. After the bell, we will be hearing from Nords from Nords from shares there down now by three tenths of one percent, Gold down four ten the ounce to twelve seventy one a drop. There are three tenths of one percent, the ten year down seven thirty seconds, looking at the yield of one point seven four percent again the SMP up two points, a gain of point one percent, and at three thirty two on Wall Street. Let's take a look at other
news from around the world on Bloomberg Radio. Thank you Charlie from the Bloomberg News Room. I'm Rami in a cent cio. This news update is brought to you by the Jeep Grand Cherokee, the most awarded suv ever. The Grand Cherokee continues to raise the bar with its luxurious interior and legendary four by four capability. Drive one at your local Jeep dealer Today. A federal judge rule. Today, the Obama administration is unconstitutionally spending federal money to fund
the president's healthcare law. White House Press Secretary Josh Ernest says this is not the first time opponents of the Affordable Care Act have tried to win this fight in the courts. There are a couple things are unprecedented about this effort, though. This UH suit represents the first time in our nation's history that Congress has been permitted to sue the executive branch over a disagreement about how to interpret a statue. Ernest called the Republican led battle unfortunate.
It's a start. That's from how Speaker Paul Ryan, commenting on his meeting with GOP presumptive nominee Donald Trump today has heard earlier on Bloomberg Radio, Ryan says, it's part of a process. I heard a lot of good things from our presumptive nominee, and we exchanged differences of opinion on a number of things that you know, everybody knows we have. Ryan didn't officially say he was endorsing Trump
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From the Bloomberg Newsroom, I'm Ramie in essentio Charlie, and we thank you, and we are brought to you by Carbonite your You never know when disaster will strike your business, from spilled coffee to malware attacks. Protect your digital files with secure automatic cloud back up from Carbonite. Visit carbonite dot com today to get two three months with offer code broadcast. I'm Charlie Pellaton. That's a Bloomberg business flash. You're listening to taking Stock with Kathleen and Pim Fox
on Bloomberg Radio. When an expert such as David Novak, the founder, the co founder and the retired chairman and chief executive of Young Brands, writes a book entitled Oh A Great One, A Little Story about the awesome Power of Recognition, I think it is relevant to pay attention. David Novak joins us. Now, thank you very much for coming in. It's great to be here him. Now, your book, the new book, Oh Great One, A Little Story about the awesome power. What made you decide that this was
the book you wanted to write. Well, you know, I've had the great privilege of building a global company, and as I've traveled the world, what I realized is there's what I call a global recognition deficit. People all around the world are craving for recognition and they're just frankly,
they're not getting it. And one of the things I did in my career is I really built a culture of recognition at Young Brands, which is Pizza, Taco Bell and KFC, where everybody in the company, including myself, we have our own individual recog nition awards, and we really made recognizing the value of others the most important thing that we could do. And you know, as I move into my next next chapter, I'm not really retiring. I'm I'm refiring and I'm passionate about the the idea that
recognition really matters. And I'm really going to build a brand around the notion of recognition. And it's called ogo UH and stands for a Great Man. And the first step of building this brand is launching this book, Oh Great One, The Little Power about the awesome power of recognition, Little story about the awesome power recognition. Now, what I've done is I field of research, and sometimes you do
research just to understand the obvious. But listening to this pim of employees in the United States don't even think they're supervisors, recognize them for what they do. Six of people tell you that they they appreciate recognition as much as money. But yet when you look at companies, is very rarely given. In fact, you know, if you're lucky, somebody's gonna say thank you or you did something well
about once every two months. And people tell you that if you just recognize them, they put more energy into the work. So it's clear there's this huge recognition deficit. And what O great One does is basically it tells the story of my experiences I had in business, understanding and leveraging the power of recognition to get results. Is it because recognizing an employee is not directly quantifiable, what is holding back managers and owners of businesses or enterprises
from doing exactly as you described. There's two to two reasons why people don't recognize number one as they feel like if I recognize you for doing a good job, you're gonna take the pedal off the metal. And you're not gonna work as hard anymore. That's crazy. That basically says I don't trust you. That's the worst thing you can do as a as as a leader is to send that that that kind of kind of message. The other thing is is if I recognize you, that means
I might have to recognize somebody else. I might make somebody else upset because they're not getting recognized. And what I found is when you recognize the behaviors that drive the performance in your business, then people know that you're watching. It says that what you do really matters. And when that happens, that means everybody knows that the coach or
whoever is running the company is watching. And they want to get recognized too, and they work harder to get that recognition, and they also celebrate the fact that other people are getting recognition. You know, recognition is really a secret weapon, and leaders just don't use it. And and oh great, when the little story about the awesome power of recognition, I talk about all the experiences I had really implementing recognition and making it happen and making it
be a catalyst for results. And you want to make recognition fun. You want to make it personal. You want to celebrate other people's ideas more than your own. You want to make it something that's contagious and creates more excitement and enthusiasm in your work environment. Where did you first come into contact with this idea of recognizing employees or people that you worked with. Well, I've always had
a lot of success team building and valuing people. You know, when I was running marketing at the Pizza that, I gave away a little pizza pan and I had a big, big pizza pan that traveled from person to person. It was a lot of fun. But when I was running operations for PEPSI I went out and I always went out and talked to the front line and ask him
for ideas. And and uh, I was at this meeting in St. Louis once and and this guy I was talking about merchandising with Tin Ralse salesman, and they were talking about this guy named Bob who was sitting at the end of the table, and Bob was the best everybody had ever seen. And they were laying all this praise about great Bob was. And I looked down at the end of the table and he's crying, And I said Bob, why are you crying? These people love you? And he said, well, I've been in this company for
forty seven years. I'm retiring in two weeks, and I didn't know that anybody felt this way about me. And from that point on, Pim I said, the number one thing I'm gonna do as a leader is to recognize it's a privilege to be a leader, and I'm gonna make sure that I make recognition the single biggest driver of any work environment that i'm a I'm I'm a part of and let me tell you, it's been a great joy and it's a lot of fun seeing people
get turned on. That's why I loved writing this book, Oh Great One, because I want to get the whole world focused on the fact that if you can recognize people, you're gonna get the joy of recognizing people, You're gonna get better results, and you're gonna make the world a better place. Thank you for stopping by and sharing this all with us. David Novak, the founder of Ogo, writer author Oh Great One. This is taking Stock on Bloemberg Radio.
Coming up on Taking Stop, will be speaking with Jeff Soarty as the chief investment strategist for Raymond James helping to manage four hundred billion dollars. What should you do with your dollars? We'll find out