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WBEN NewsRadio 930>Audio & Video on Demand>>CBS's Jill Schlesinger- Merger Mania- Tim Horton's and Time Warner

CBS's Jill Schlesinger- Merger Mania- Tim Horton's and Time Warner

Aug 27, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

Like mounted chills lessen your CBS news senior business analyst and host of Jill on money Saturday's four until six and WB and we're looking at mega mergers this morning the Burger King Tim Hortons deal. And we've been talking about all week and of these Comcast Time Warner deal which is still in the works still good morning. -- this -- good for the consumer -- now. I can't say that it's good I mean let's talk about the table deal. In the past when -- look at any Telecom merger it is not spelled good news for consumers because what we do Edward -- Kind of polling one of the competitors out of the marketplace now I know they're not direct competitors. But when there are fewer providers. Who all our current basically controlling content and chances are I didn't go up down the line not down over the line over the time being so we you know I think that for consumer it's not great. And you know we have not heard good things about Comcast around here for wanting their service. It's said to be terrible emotion driven home a few weeks ago I don't know if you remember -- play that clipper on the New York City area. Of a Comcast person on the phone giving a customer a hard time yeah. I I mean he is -- -- company I mean it's if you could pocket millions of people. Who at Time Warner they say -- the worse it is very hard concept for going to get. Mostly that you know what the demand that we make on our cable systems are asked if you go overseas you'll see that. Speeds there's so much quicker and the cost is so much deeper that the US market is one that is really been dominated by the private companies -- I'd say. For profit companies that -- publicly traded. And as a result they're not like they should be like utilities but the end and as a result we get -- service at a higher costs. But is it likely to be approved in the end. Yes I think -- alias and that you know let me get to a -- a tiny bit of inside baseball here have -- to -- gone to college lived rock market. Who is the CEO of Time Warner Cable. Well he was actually house mate of mine and you know through that pitted the that various channels. It seemed to me at least my inclination is the guild contract. Okay enough Tim Hortons Burger King now we're hoping to talk -- one of our local members of congress about it this morning. Who wasn't. The mainly about moving the headquarters to Canada wasn't congress. Like working to prevent things like this from happening. The other try but you know -- really require overhaul of the corporate tax -- so let's just remember. That this new company Burger King is going acquired -- important they're gonna start -- new company which will be headquartered in Canada. Why are they doing at the corporate tax treaty to Canada is 15%. Compare that with the top three in the US with 35%. It is perfectly legal right now. So unless congress acts actual -- then we do not see any. Yet -- back and be slowdown in the tax incursion deal's impact will be more of that. But what congress need to do is a more comprehensive corporate tax reform and until they do that. I think you can AppleTV -- -- -- very funny at a that he realizes the Warren Buffett helped finance this take out didn't he asked for three billion bucks in the DL. This is just bad. Three months after he complained about the tax considerations -- It's gonna say isn't this a little awkward for him. I thought well I think -- keep saying that it's legal and I'm not gonna sit here and watch my competitors take advantage of tax conversions and taking advantage of a legal way to go through the tax code and make more money for my shareholders must not let others do it and I'm not -- and then be left on the life so it's kind of interesting Warren Buffett complained so these tax conversions are bad but that he goes and does that you know -- a pattern then that I ever about the oracle but. And just remember he was also the guy -- said that derivatives are weapons of mass destruction and if you look at what it at Berkshire Hathaway's balance sheet is planning a derivatives all over that balance. Well how would he make money on display helping finance. Are the brilliant deal actually he basically said our DV three billion dollars and I get what's called preferred equity. So he's gonna -- pony up three billion dollars he gets I I understand it's not. -- these are not exact numbers yet. He's probably going to get a -- 9%. Dividend -- like that 9% dividend this environment. And then if the stock goes up he will then perhaps get a bigger bonus on the way out but it'll be guaranteed that 9% level even a distinct -- out. While they deal regularly you know -- probably at Warren Buffett's money. Now okay tell. Keep working. Well but still solicitor CBS news senior business analyst.

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