Global business news twenty four hours a day, if Bloomberg dot com, the radio plus mobile app and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters. I'm Charlie Pellet of Thedal, the smp NEZ dec called Advancing. This update brought to you by National Realty Returns on cash in rented real Estate. Find them at n r I A dot net. N r i a dot net. Now over to the first Word Breaking news desk for
today's afternoon call. Here, he's Bill Maloney. Good afternoon, Charlie. Man U. Savages are gaining today, with the Dow currently hired by sixty five point, SIPs game seven and AzaC rises sixteen, the small cap six hundred rises seven points, and the US ten yield at one point seven per cent. Eight out of tennesse B sectors are higher, led by
games and materials, consumer staples, and the industrials. Energy and telecom fell down, Transports jump forty one, as a BI text drop two points, and the VIX is little change doll Leaders to the upside include United Health Group, Caterpillar, and Visa, while Chevron and Verizon led to the downside. A K Steel jump nineteen percent, Create Sweete upgraded to outperform Vera Phone plunge twenty four percent after its earnings, while Lulu Lemon gained as much as five point four
percent after its results. Restoration Hardware reports After the Bell Live from the First Breaking News Desk on Bill Maloney. Charlie, all right, thank you very much, Bill Maloney, and to hear live breaking news over your Bloomberg Times squawk ask you you a w K on your terminal. I'm Charlie Pellett and that's a Bloomberg Business flash. You're listening to
Stock with Kathleen pim Fox on Bloomberg Radio. Just the last month, the Orange County Tourism Development Board in Florida approved a three million dollar worth of hotel tax revenues in order to bring the NFL to Central Florida. And here to tell us more about that effort and the economy and development of central Florida is Orange County Mayor Teresa Jacobs. Thank you very much for being here. Oh, thank you so much for having me. What was it like?
I think it was last Wednesday that you were able to finally announce that the NFL the Pro Bowl is coming to Orlando. It was absolutely thrilling. I can't tell you how excited our community is about hosting the Pro Bowl. And I think you're gonna see an entire Orlando UM scene just come alive over this, as well as as the whole nation of course, but I think locally it's gonna be phenomenal for us, so uh, Mayor Jacobs. It's been in Hawaii for a long time. You get it
for I believe three years. Do you do you really will it make a difference to the Pro Bowl itself to have it here? I mean, it's not going to change the players necessarily or will How do you think that synergy is going to work to tybbe even not just help Orlando, but take the Pro Bowl to another level? Oh?
I think it's I think it absolutely is. One of the reasons that the NFL was so interested in the Orlando area is that they want to They want an environment where their players are anxious to come and bring their families and um make make a bit of a vacation out of it at the same time. So UM they see it as a tremendous draw to get the players UM re engaged and very interested in showing up for Pro Bowl. So I think it's going to help
the games. I think it's going to help the viewership, and of course I think it's going to help our local economy and um, more than anything, it's gonna be a lot of fun. Tell us a little bit about infrastructure, because I note that toll roads. For example, this is the toll road capital of the United States, and you've got more planned. Tell us about the relationship between toll roads and infrastructure. Well, we do have a lot of
toll roads. I sit on the Toll Authority, and UM, we have a lot of toll roads because quite frankly, we're a newer city and a lot of the growth that we've experienced in the last fifteen or twenty years has come after the time when the federal government was investing so much into major transportation UM highways. So we've done a lot of that and we've paid for it locally. UM. In addition to our toll roads, though, we have about five billion dollars worth of transportation improvements that are in
the pipeline or just recently completed. So I think that that's pretty phenomenal, UM in in this day and age right now, when you look at um UH regions and cities our size to have so much going on, from um massive renovations and expansion of our airport to our convention center, to um A sun Rail commuter rail system, and um and and major highways. You know, you were elected mayor in November, re elected your second term. You were two term Orange County commissioner. Uh. You had a
career in banking, yes, I did. Yeah, what got you the politics? What made you decide you want to do this? Actually, UM, it's gonna sound a little trite, but it was a road through my neighborhood. The county decided to put a road through my neighborhood. UM. I didn't like that so much. UM and got engaged and began to understand that little government plays a tremendous role in our quality of life
and our property values. And UM thought, why not take the background I had in finance and banking, in um municipal bonds and trading financial futures and apply that in the public arena. And I've loved it. Now you talked about the quality of life for just a second, and I want to give you an opportunity to explain. You testified recently in Washington about an epidemic that is afflicting many municipalities in the United States. Tell us about this absolutely.
I think it's still shocking to so many people to learn that we have a heroin epidemic. UM. It is not it's not equally profound in each cities, but there are targeted areas UM some in the Northwest, on the west coast of the United States, and UM some places in Florida, including Central Florida that we're really seeing m incredibly cheap and extremely dangerous, deadly strains of last five deaths last year, death last year, increase over the last
several years, so UM a profound increase. UM. I think that people don't realize that heroin has become so much easier to get so cheap, so cheap and so deadly and UM. And when I was growing up, the only people who used heroin UM were those people that were really really extreme drug abusers. UM. And today we're finding it to be more and more unfortunately acceptable. If you look at the bottom line, there's a human cost. I guess there's also the cost of dealing with these people.
As as a mayor of a major city, what is what is the cost of what's the benefit of stopping this, Well, there's a there's a huge human toll um absolutely, and the addiction costs um are are pretty phenomenal. But not treating it is is a cost too great for society like ours to um to bear. So I think that's the reason we've approached the federal government for additional support.
That's the reason we're working with so many other jurisdictions across the country to create awareness, to prevent the addiction in the first place, and to help treat those who are addicted. Very few people are addicted to heroin because they want to be addicted. Most people UM stumble onto the use. Maybe they've been on pain killers and suddenly they couldn't get the pain killers anymore and they found themselves addicted. Teresa Jacob, I'd like to talk to you today.
Thank you for joining us. Oh, thank you so much for having us. She is the mayor of Orange County here in Florida. We're live at Pershing's Insight sixteen conference at the Higher Regency in Orlando. I'm Kathleen Hayes along with Pim Fox, and this is Bloomberg Radio. Bloomberg Taking Stock is brought to you by Ancient Block and Ancient named the best accounting firm in North America for the sixth year in a row by hedgeweek dot com.