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Now let's head right over to the first Word Breaking news desk fort Today's afternoon call, and here's Bill Maloney. Good afternoon, Charlie. Stocks are climbing today, with the Dow currently hired by a hundred and twenty five points. SUPs gained eleven and AzaC rises thirty, Small CAPSI shund gainst six points, and he was ten yield at one point
seven to per cent. Seven out of eleven sub sectors are higher lit by gains and energy, Financials and the materials, while real estate, telcom and utilities led to the downside. Transports gained fifty four our utilities dropped two points, NAZI botex rise thirty, and the vix is down by six point six percent. Leaders to the upside in the down
included Caterpillar, Goldman, Sachs, and JP Morgan. Verizon fell one percent, Chesapeake Energy trans Ocean rose six percent amid gains in energy price line traded above fifteen hundred dollars per share, while Sara Salesforce fell five percent and made reports the companies among the bidders for Twitter find the Young Brands reports after the bell Tonight, estimates are for a dollar ten on revenues of three point four nine billion, Live
from the First Baking newsdask on Bill Maloney, Charlie, all right, thank you very much, Bill, and to hear live breaking news over your Bloomberg Times squawk. Ask you a w K on your terminal. I'm Charlie Pelos. That's a Bloomberg business flash. You're listening to taking stock with Pim Box and Kathleen Hayes on Bloomberg Radio. Water we all take it for granted, but it seems to be the one commodity that is immune to the factor of supply and demand.
Here to tell us how water factors into so many aspects of our life and business is built a crow Check. He is the president and the chief executive of Veolia North America. Bill, thank you very much for coming into the studio. My pleasure. Now just tell people a little bit about the Volia. It is a French company, you're the head of the North American business, and you're moving the headquarters of the company from Chicago to Boston home
to Bloomberg. Tell us about the company and the move. Sure, so, Violis, it's a it's a Paris based company, but we're an international company. Um long history and water goes back a hundred and fifty years as a French water utility. Over the last fifteen years though, from that long history of being a Western European water company, we really moved into a position to be the world's largest all environmental firm and we focus on water, energy, and waste basically around
resource resource management it on all those fronts. Um and fundamental to that premise is what we call the circular economy, which is trying to take people from a mental people, businesses, cities away from a mentality of buy use, throw away to buy use, reuse, repurpose and then maybe as much as little waste as possible. So really it's it's taking it from a linear thought process to a circular thought process. So what do you sell them, the people that you
want to go circular, what do you sell them? We we sell them services generally, So give for you for an example. This is outside of it. It stretches across water ennygy ways. But I'll give an example in water. So we're building a plant right now in Marcellus shale field where um we will take the water that comes out after a frack. We will treat it so that it can be either reused for the next round of FRACKINGE or it can be discharged in environmentally safe manner.
So that's a case where it's it's a circular reuse type of situation. In other cases, in refineries, we take oily residuals where there's water and oil and other solids mixed into part of a refinery process. We purify that, will recycle the water, send it back to the refinery or will send it back to their own treatment system, will take out the oily components, give them the oil back so they can put it back into the refinery process.
And then finally the solids that are left over, we reinject into what's called the coker, which is it's a way to actually combust it within the refining process, so the waste streams are minimized, reus is maximized. It's a bottom line benefit, and it's a reduced environmental footprint for the refinery. So those are a couple of examples. Now, I started when I introduced to you by describing water as a commodity where supply and demand don't necessarily have
any effect on the price. Tell us about this. Yeah, it's one of the big challenges of dealing with water scarcity and water resource management. Water is substantially underpriced, and you know, it's a touchy issue because many folks believe that it's a right as as a citizen of planet Earth to have access to water. In reality, there's this filla cost, whether it's through scarcity or just normal um
the cost of moving water around. So, for example, in California, where's a scarcity issue, we still price water in a very cheap fashion where people can overuse and there's really no economic pinch. So there's a dissociation between the price of water and it's fundamental cost of delivery and the notion of scarcity. How much has the consciousness of businesses changed? Is it dutiful now? Like oh, yeah, I guess you'd better got on board with this. It's getting a lot
more popular. Is there some sense of it being their duty? Is there some sense of it being a good business strategy in terms of cost over the longer haul? Yeah? I think when you when you look at this notion again of circular economy and sustainable development, it's come a long way. If you go back, you know, ten fifteen years, it was looked out maybe maybe a little further, called
them tree huggers. It progressed into a phase where there were new technologies, there was a new wonder standing, but people were still applying green plaint in other words, a facade that looked sustainable, not but not really into the core of business processes. Today, what you see our businesses either for the reason of satisfying both greens as I call it, economics and environmental reasons. There's an underpinning for
for investment. So uh, for those examples that I just gave, not only is there cleaner environmental footprint for the industry, but their bottom line competitive improves. So that's just one fundamental reason. Now that takes complexity, fully understanding value chains and supply chains and really digging into processes and doing them different differently and making investments. But companies are doing that. I think the other thing worthy of note is companies
are also looking at this as a hedge. So for example, you're at the forefront of something like organics to energy. We know we waste too much food. We know it was into landfills that creates methane, which is basically c O two on steroids. When it comes to the to the global impact, to the climate impact. Yet, although there's many laws that limit the UH basically the disposal of
organics to landfills, there's not much enforcement yet. But companies are understanding that they need to get ahead of the curve. So you see some of the big food companies, the high end um grocery store chains, other big box companies that move a lot of food. They're getting out in front of it. Bill the Crouchy, thank you so very much. Thank you for getting out in front of our radio
audience here this afternoon on taking Stock. Fiells, President CEO of Violia North America, based in Chicago, companies moving headquarters to Boston. He's in New York for the second annual Bloomberg Fistainable Business Summit. This is Bloomberg. Bloomberg taking Stock has brought you by Withem Smith and Brown c p a s autit tax and advisory services, helping you and your business be in a position of strength. Experienced the Withythm Way by visiting WITHTHM dot com