The Businessmakers Radio Show

Featuring entrepreneurial resources & hundreds of interviews with make it happen entrepreneurs

Everyone Should Just Play Nice

From take overs to competitors aligning with one common goal.

The BusinessMakers

Listen Now

This text will be replaced

Extras:

Share:

Summary:

Katie Laird and Esther Steinfeld dissect the week’s business news and cover the creative forces that rock your entrepreneurial world. The Supreme Court is changing rules and regs for political contributions. Kraft has pulled off its acquisition… but at what cost? And what is up with Apple and Microsoft playing nice? Can’t wait to see how THIS one plays out! Also, we have another adventure of CEOs say the darndest things! (“Warren Buffet is freakin mad!”)

Full Interview text

Katie: If it's boring blazer and tie business you're after, you are in the wrong place. Welcome to The BusinessMakers Overtime Show. Your weekly update on the creative forces that rock your entrepreneurial world. We're your hosts, Katie Laird -

Esther: And Esther Steinfeld.

Katie: - and this week we're traveling into the future as we talk about the jobs of tomorrow that are fun, the cool ones, and well, some of 'em are just kinda rotten-sounding.

Esther: Yeah, some of 'em sound really strange.

Katie: Uh huh.

Esther: So - then we'll actually talk to Laura Capper. She is the Founder and CEO of Cap Resources. She's gonna share some insights on some great and innovative things that her clients are doing which you can bring back to your business. So, of course, kicking off this week's show is The Business Week in Review.

Katie: It's been a pretty interesting business week, actually.

Esther: It has. There's a lot going on.

Katie: And - there really is and let's start high, high up and talk a little bit about what the Supreme Court's been up to, lately.

Esther: Hmm.

Katie: Well, recently - and this is according to The Washington Post - the Supreme Court is tearing down, literally decades of legislative efforts that are controlling how corporations interact on the political campaigning playing field.

Esther: Interesting.

Katie: So whereas way back when there were really strict regulations on how businesses could use their profits to support or oppose political opponents through ads, now the Supreme Court's like, "Hey, First Amendment. Corporations are great. Go for it."

Esther: Spend whatever you want?

Katie: Spend whatever you want.

Esther: Oh my gosh!

Katie: And now - and this isn't for direct campaign contributions. So that's still - you know, they have these very, very narrow definitions of what's appropriate and not appropriate to spend.

Esther: Uh huh.

Katie: But now, who knows? I mean are we gonna see Coca Cola running ads against, you know, political candidates?

Esther: Could be. You know, actually I think this came about because some group that was anti-Hillary Clinton wanted to run this movie that they'd made, was very derogatory, towards Hillary Clinton, showed her in a very negative way. This was during the primaries. This case is from far back but the ruling just happened recent.

Katie: Right.

Esther: So actually I was reading Slate as I always do, 'cause you know I love Slate.

Katie: Slate's awesome.

Esther: Richard Hasen actually says I'm quoting him: "Today, the Court struck down decades-old limits on corporate and union spending in elections (including judicial elections) and that opens up our political system to a money free-for-all."

Katie: It's a little freaky and I mean, if you think about individuals that are trying to get their bearings in the political sphere, which is a very muddled, crazy world to begin with.

Esther: Uh huh.

Katie: And now we're having giant oil and gas companies throwing all their weight behind or against somebody - I just don't know that I dig it. I just don't know if that's a good way for businesses to use the money.

Esther: So Slate's Richard Hasen actually has something else really interesting to say and I'm quoting him again: "Could a candidate for judicial office, for example, be swayed to rule in favor of a contributor who donated $3 million to an independent campaign to get the candidate elected to the state supreme court?" So that's really a shady business there.

Katie: Ha ha, yes.

Esther: Can you imagine someone donates $3 million to a particular judge to get him elected and then he ends up being the judge on a lawsuit case? There are so many possibilities for corruption here that I really don't see this ruling standing for very long.

Katie: No.

Esther: Although this Slate article supposes that now we're gonna see a lot more state legislation, local legislation that talks about this very thing, falling -

Katie: Okay.

Esther: - based on these new rules.

Katie: Well and it sounds like President Obama and friends are already in action to fight this.

Esther: Yeah.

Katie: I mean it's, it's gonna be a clash of the titans. (Laughter)

Esther: Well talk about clash of the titans here. We've actually covered in some detail the hostile takeover attempt of Kraft Foods trying to obtain Cadbury.

Katie: Yes.

Esther: We've talked about this in detail. You know we've covered it and it looks like it's been successful.

Katie: Kraft has become victorious. (Laughter)

Esther: Yes. A $19.5 billion buyout by Kraft.

Katie: Woo!

Esther: Pretty unbelievable. Actually now Kraft replaces Mars as the world's largest candy company.

Katie: Oh my gosh.

Esther: They own several other candy brands.

Katie: Yes.

Esther: So this now puts them way ahead of the game.

Katie: Way ahead.

Esther: It's really unbelievable.

Katie: And this isn't news that everybody is crazy about. Warren Buffet, who is the Chairman of Berkshire Hathaway, whose of course Kraft's biggest shareholder, is freakin' mad - is that like a good economical term? (Laughter)

Esther: He was not for this deal at all.

Katie: He was not and one of the reasons, you know, talking about Kraft's diversity is that Kraft, in order to pay for Cadbury, as much as we love their eggs - you know, I mean creamed eggs like $19.5 billion worth.

Esther: We do love the eggs.

Katie: They're having to sell off two pretty successful businesses in the pizza industry. So they have DiGiorno and Tombstone that they're gonna be selling for $3.7 billion to help fund the Cadbury purchase.

Esther: To Nestle.

Katie: Yes. Yes, to Nestle. His feeling - and this is from The Economic Times - Warren Buffet says, "Giving up a business that makes $280 million a year for $2.7 billion, I think that is a huge mistake."

Esther: Yeah. He actually called the idea terrible.

Katie: Yes.

Esther: And he was fighting it the entire way but unfortunately, the deal did go through.

Katie: So let's talk about two more titans - 'cause I think this is just sort of the roll that we're on.

Esther: Yeah, clash of the titans here.

Katie: Woo hoo! (Laughter)

Esther: One of my favorite movies.

Katie: Exactly. We just watched it the other night. That's funny.

Esther: Love it.

Katie: So Apple and Microsoft. Typically bitter rivals, you know, do not get along whatsoever. Well, these days they are playing nice because apparently they both really hate Google. (Laughter)

Esther: Oh. Well, Google is sort of the proverbial thorn in the side of every other technology company, ever.

Katie: Exactly. Exactly. So a story from Business Week tells us that Apple and Microsoft are deep in talks about replacing Google as their default search engine for the iPhone. And putting Bing in.

Esther: Now, I don't really know what means, to be honest.

Katie: So you're on your iPhone and you wanna look up somethin'. You wanna look up where the closest movie rental place is. And whenever you click on your Safari button - so whenever you wanna start browsin' the web - the very first thing that pops up to search is Google. It's just in there, automatically and because that's the first thing that pops up, unless you're a super geek you're not gonna go around it. Eighty-six percent of mobile users that search the web use Google versus, I think like ten percent use Bing right now.

Esther: Interesting.

Katie: So talk about market share - and considering that Google, of course, runs ads on their Google search, people are basically paying them. They're giving them money to use their search engine.

Esther: Uh huh.

Katie: And Apple has had enough. And I think a big part of this is that earlier on, when iPhones first came out, Google was still Google, the Internet company and there was no Android smart phone. You know they weren't branching out but now Apple and Google, like they are competitors.

Esther: Yes.

Katie: Absolutely no doubt.

Esther: For sure. What I also think is interesting is a lot of Apple's customers are Apple customers because they are anti-Microsoft. A lot of their platform is built - a lot of their campaigns, their marketing campaigns, their, "I'm a Mac, I'm a PC" - you've got all of this anti-Microsoft propaganda and now you wanna play nice? I mean what kinda ads you gonna run? What are you gonna do in your commercials? I don't know. So it'll be very interesting to see how this plays out for sure.

Katie: Yes, yes.

Esther: I can't wait to see.

Katie: So now we're gonna revisit one of our favorite segments called "CEO's Say the Darndest Things."

Esther: Uh huh.

Katie: And this week, our CEO is actually Glen Bell and if you haven't heard of his name before, you've certainly eaten his food at some point, perhaps -

Esther: Probably 2:00 in the morning.

Katie: I - that's exactly what I was gonna say. He is the Founder of Taco Bell. Glen Bell, Taco Bell, and he unfortunately passed away recently at the ripe old age of 86. So of course while pretty much everybody has had at least one post-drinking taco in the United States at Taco Bell, I don't think that we give him as much credit as we should. You know we've kind of grown to be accustomed Tex-Mex and Mexican food and all these little chains that have popped up - but Glen is the guy that put tacos into America.

Esther: Yeah.

Katie: So of course - I mean Mexico, South America, like not a big deal there, but in the U.S. he's the guy that put it there.

Esther: Amazing.

Katie: And not did he come up with the idea to introduce this to our bland, American palates at the time, whatever -

Esther: Meat and potatoes.

Katie: - he actually learned from the masters. He started in San Bernardino, which of course, is where Mac and Dick McDonald had their first McDonald's burger stand.

Esther: Oh.

Katie: They were like practically neighbors.

Esther: Oh my gosh.

Katie: And at first, Glen was like, "All right, burgers." It was right after WWII. Everyone's getting excited about fast food, convenience, whatever. He's like, "I can do a burger stand," but then he saw the McDonald's next door and he's like, "All right, I'm gonna do somethin' else, guys."

(Laughter)

Esther: What else can I put in a wrapper and stick out a window?

Katie: And - yeah, exactly and he sure did. In fact, whenever the very first Taco Bell opened up in Florida in 1967, Glen had to spend a tremendous amount of money on advertising to actually explain exactly what a taco was -

Esther: Oh my gosh.

Katie: - how to pronounce different things, the ingredients that went into tacos.

Esther: Oh my gosh. That's so cool.

Katie: So I mean it was, it was a sea change in you know, the way that we eat these days.

Esther: Yeah. That's amazing.

Katie: So, our Glen Bell quote, who did indeed say the darndest things. Glen Bell said, "I am an entrepreneur not an administrator. Taco Bell has prospered because I have recognized my limitations, hired professional managers to make up for them, and I definitely know when to let go."

Esther: Wow.

Katie: Which, I think we'll also hear Laura Capper, in our next segment, say very much the same thing.

Esther: Uh huh.

Katie: You know as far as entrepreneurs really knowing where their strengths are and just finding amazing people, you know, whether they're expert burrito rollers of whatever (Laughter) to fill in for the rest.

Esther: Whether you make a bean burrito or you drill for oil.

Katie: Exactly. You know?

(Laughter)

Esther: There's all kinds of entrepreneurs out there. That is for sure.

Katie: Exactly and we like 'em all. (Laughter)

Esther: Yeah. Well that wraps up segment one and we will have more with Laura Capper, Founder and CEO of Cap Resources in segment two. You are listening to The BusinessMakers Overtime Show, heard here and online at theBusinessMakers.com.

Comments and Opinions

blog comments powered by Disqus