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Talking Points: Quotations from people in the news
- July 1, 2023: Vol. 10, Number 7

Talking Points: Quotations from people in the news

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Anthony Capuano, CEO of Marriott International: “Even pre-pandemic you saw this shift away from consumption of hard goods to experiences; it sure feels like the pandemic acted as an accelerant to that trend and maybe spread that trend across generations.”

 

Hui Shan, chief China economist at Goldman Sachs, commenting on China’s economic slowdown: “Confidence is a big problem. For consumers, there are concerns about the future — you don’t really want to spend. Private investment is also very weak. You talk to entrepreneurs, there is still a reluctance to engage.”

 

Ted Cruz, U.S. senator from Texas, on the debt ceiling impasse: “What makes me worry is that I think the decision making in the White House is being done by a bunch of twentysomething and thirtysomething little Marxists who don’t have an appreciation for reality.”

 

Paul Tudor Jones, billionaire investor and hedge fund manager, commenting on the Fed raising interest rates: “I think they’re done. They could probably declare victory now because if you look at CPI it’s been declining 12 straight months. That’s never happened before in history.”

 

Jose Perez, a managing director of Agave Holdings, on investing in the distressed office market: “We have learned from the past that when everyone is selling, buy; and when everyone is buying, sell.”

 

Robert Sadow, CEO of Scoop Technologies: “Employees are saying we are going to push really, really hard against being required to be in the office five days a week. Most companies in the current labor market have been reluctant to push [back] that hard.”

 

Neel Kashkari, CEO of the Federal Reserve Bank of Minneapolis: “The reserve currency is determined by investors all around the world. They vote for which economy they have the most confidence in. So, what happens in these debt-ceiling standoffs is it erodes confidence in the U.S. economy and our economic system, and it makes our competitors look a little bit stronger on the margin.”

 

Linda Yaccarino, CEO of Twitter: “Twitter is on a mission to become the world’s most accurate real-time information source and a global town square for communication. We’re on the precipice of making history — and that’s not an empty promise.”

 

Daniel Abrahams, partner and head of real estate law firm Memery Crystal: “When I started practicing 20 years ago, we used to do 20-year leases with maybe a break at 10 years. And that was pretty standard. Now, it’s completely different. The standard is a five-year lease, probably with a three-year break. You will also have a risk-sharing rent review pattern of some description. There’s a whole raft of different payment structures that we come across regularly.”

 

Pranav Khattar, a credit analyst at S&P Global Ratings, commenting on WeWork: “We still believe that the current capital structure remains unsustainable.”

 

Meredith Whitney, CEO of Meredith Whitney Advisory Group: “There are good reasons investors don’t want to be in bank stocks right now. There will be many fewer banks.”

 

Scott Sperling, co-CEO of THL Partners: “The large language models are going to become a commodity. That’s not the area of competition. It’s really the data and the texture of knowledge that you have about a specific domain that is going to drive competition.”

 

James McGregor, chairman of the greater China region for APCO Worldwide, commenting on Jamie Dimon’s trip to China: “This is kind of a redemption tour. You’ll remember in 2021, Jamie Dimon said his bank will outlast the Communist Party. You can imagine that was not well taken by the Party.”

 

Greggory Warren, analyst at Morningstar: “The harsh truth in the current operating environment — where there’s a heightened focus on fees and performance, which has spurred the growth of passive products and increased fee and margin compression for the asset managers — is that firms will need to cull or consolidate parts of their product portfolios.”

 

Casey Crownhart, a reporter at MIT Technology Review: “The world saw about $2.8 trillion of investments in energy in 2022, with about $1.7 trillion of that going into clean energy. That’s the biggest single-year investment in clean energy ever, and where it’s all going is pretty interesting.”

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