Four years ago, we were doing something similar to this. It's even more exciting today. It really is, you know, times they are changing, but they aren't changing for the best. And we need a guy, we need a guy that works hard. I worked with Bernie for 18 years in his office, did press conferences back before then. Could never keep up with him. Somebody said, well, how does he do all that? And I said, I don't know, I think he's an energizer rabbit. But the senator has always been almost ahead of his time. But I think his time is now. I may remember I'm a dairy farmer. And I'll tell you, there'd be more farmers here today if we didn't have this one good day of the week. Doesn't matter that it's Memorial Day weekend. Those fields have got to get planted because they've got to get milked. And the last four years have been kind of rugged. We've lost almost a third of our farms here in Vermont just since 2010. But if there's one guy that stands out in the crowd and is willing to go on your farm and let you teach him how to milk, it's Bernie. Come for any photo op. He got in there when the first cow was milked and he stayed till at that time it might have been 130 cows got milked. He didn't take off in a car with his press club. He was in the house with us having breakfast. And he asked Bill, my husband, more darn questions during that breakfast. You would not believe. Talk about a student. He wants to know what the common person is up to. What you're thinking. Why do you think he does all those town meetings? Town meeting here and a town meeting there. We've had town meetings in our grade school. We've had town meetings in our firehouse. We've had a farmer meeting under a maple tree on the farmhouse lawn. He wants to know. And that's what makes him so impressive and on task because he knows us, the common people.  His name was William Jennings Bryant. He ran for Congress in Nebraska. He was leading the Democratic Party, setting policy out there for people to think about and act on.  Your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the country. And Bernie is that kind of guy. He understands what it means to have a rural America plan, to bring life back to the communities. And Donald all, how would he not? He lives here in Vermont. We're so rural. We've got our wonderful city of Burlington that we can escape to sometimes. But we need our green fields and our mountains, our trees. Heaven knows, farmers are great for helping to capture what's good in our environment. We work hard every day to keep those landscapes working and growing your food, our food. Bernie knows that national food security, national security period, depends on people growing their own food. The more local, the better. Steve Varney come to St. Albans. She happened to be the person in charge of the antitrust division. And we talked to her about our concerns that things were getting more and more vertically integrated, that farmers were finding fewer and fewer places to sell their milk, to market their milk. She wrote a wonderful report. She went all over the country. She talked with hog farmers and beef farmers and soy and corn. And in every instance, it was the same. She wrote up the report, was working for the Department of Justice, and disappeared. Back into private life. Nothing was done. Bernie's got antitrust, merger, consolidations, all those things in his role plan. And it means a lot to me to see him push that once again. But he needs a Congress behind him that's going to support him as president and get some things done. All right. I've told you all about, not really, low milk prices. But anyway, Bernie's too big for Vermont. I'm sorry. I told him that. I said, do you just wait. They're going to catch up to you, Bernie. And then you're going to be able to get something done. I think we're there. It's working with him. He's learned a lot. He's been all over this country. He's ready. And we're ready for him. Let me just remind you, if I can find the right paper, that if you want to show your support for Bernie and some of you have on your green t-shirts, check this out. And in that red umbrella over there somewhere, you can get t-shirts, books, bumper stickers. And another way that you can give is right from your phone. I'll give you the number. You text the word donate. And the number 67760. No amount's too small, let me tell you. If farmers can give, everybody can give. I've got a reason to vote this year. How about you? Gives us a reason to want to vote. And it's going to be more important than ever this year. Don't lose faith. Have hope. And eat lots of good Vermont products. Thank you. Please welcome to the stage Montalier High School student, Hope Petraro. Thank you so much for showing up today. I am so excited to be here with you all today to not only share my past experiences in the lovely state of Vermont, but the glimmering hope and the potential I firmly believe our future holds. I'm 16 years old. I'm a junior at Montalier High School, just a few blocks that way. I'm a member of the Vermont Youth Lobby, organization of high school students from around the state who advocate for climate justice in Vermont, plan the rally for the planet on the state house lawn each year. I also helped co-found the Race Against Racism, a community event and fundraiser for racial justice in Vermont, one who's regularly thinking about world issues. And like many young people who are inheriting the world today, the question that is usually at the forefront of my mind is, how can I advocate for what I believe in? How can we as a state and as a nation create real and exacting change and push for equality and justice in all facets of the world we live in? I support Bernie Sanders because he stands up for the reform that American people need. He's a candidate who advocates for comprehensive legislation and the necessary infrastructure to support low income, working and rural Vermonters. Bernie Sanders, because he's willing to act on climate change, a defining issue of our time and one that's already unleashing its effects and will help bring Vermont to its goal of 90% renewable energy by 2050. By taking firm stances in the face of legislative inaction and by defying corporate interests, Bernie is changing the nature of American politics and truly serving the people he represents. In the fight against climate change, against big money in politics, against the prison industrial complex, against xenophobia, racism and hatred, against growing income inequality, there's an opportunity. It's the opportunity to fight for what we believe in. Our next steps as a state and as a nation won't just affect us, they will affect generations around the world for hundreds and hundreds of years to come. And we as Vermont can and will fight for what we believe in, for equity, for entrepreneurship, for community, for justice and most of all, for progress. Thank you. Please welcome to the stage representative Peter Wells. Bernie Sanders, my friend. You know, he won that landslide in 1981 in 1981, foaming support to become the mayor of Burlington. That was the year I began serving in the state Senate so we were in politics together. Every step of the way along my career when I served in the state Senate, Bernie was my friend and was always there. Politically, but also personally. When I ran for governor in 1990 and lost Bernie was there. He helped me stay close to me. When I was out of politics and he was in as our US representative in the House of Representatives. When we in my family had some down times, sad times, Bernie was there. Then when I've served in his shoes, and I don't wanna say I filled his shoes, but I served in his job as I do now. Every single day, if there's anything I need that can help me succeed and help from honors, and I need Bernie's help, Bernie is there. And we spend a lot of time too, just accidentally on the plane talking about how smooth things are going in Washington. And so far, when it is time for one of us to give the other a ride home or check up the cab fare, some people say Bernie's tight, but so far I'm ahead of him by at least five to one. Thank you, Bernie. Tell you something, friendship matters. You know, we've got our political issues and we've had wonderful discussion about it, but friendship matters. Loyalty to your friend, matehouse who can remember who his friend was let alone his wife was the other day. We're proud of Bernie, but we're all Vermonters and we share something that's dear to us. Our constitution, the state of Vermont, was the first constitution in the United States of America that banned prohibited, condemned slavery. It was young men in the hard rock fields of Vermont who came down out of those hills in more than any other state on a per capita basis contributed to the union cause that ended legal slavery in this country. That was Vermonters who did that to face the challenge of discrimination. And Vermonters took this position that we know Vermonters would only take that every person should be able to love the person they love, Republicans and Democrats made that tradition of expanding opportunity and equality to all people. It is sometimes people criticize Bernie because he's giving the same message. Think about it. It was always for a higher minimum wage. Something wrong with that? He was always diverse in any problem accessible and free higher education. Anybody got a Bush decision? He was always for the men and women who served in our veterans who came up. The people who have a problem with that because they said it was too much in 2016 but now it's doctrine in 2020. Or there's a lot in there. Russia collusion one thing, obstruction of justice, 10 separate incidents. Then you've got a president whose attorney general says the president is above the law and there is no accounting. And now you have a president who when he's having a meeting with Nancy Pelosi and Chuck Schumer about a $2 trillion infrastructure plan, he says he's four, he walks out of it in two minutes. And you know what the division we have in this country? When we were at the height of the Civil War, Abraham Lincoln and the Congress of the United States built the transcontinental railroad. Bernie Sanders is a doer. He's a healer. He's a uniter. And yes, he's been consistent. And you know what? He's been consistent in his friendships. He's been consistent in his advocacy for Vermont. And he has been consistent in his advocacy for the opportunities for all Americans. And it is about time we get a president of the United States who knows where he comes from and who he's for and that's Bernie. In the 2020 campaign and co-founder of Vermont's own Ben and Jerry's Ben Cohen. Before Bernie, Jerry and I used to be the most famous guys from Vermont. So now we are happy and proud to pass that distinction on to Bernie. I mean, ice cream is good, but a president of the United States who truly believes in justice in all its flavors, victories of Ben and Jerry's and Bernie are pretty interconnected. So I'd just like to talk a little about the old days and then bring us up to date. In 1978, when Ben and Jerry's first started, I was living in Burlington under the rule of the long-term Democratic machine mayor, Gordy Paquette and his old cronies on the city council. I remember going to that city council for permission to show free outdoor movies in front of our ice cream shop and being told no, never, not in this city. And I remember as a struggling ice cream man in that old gas station feeling overcome with joy at the victory party in the basement of Memorial Auditorium when Bernie was elected mayor. Movies in Burlington continue to this day. During those early days of Bernie's administration, the old guard controlled the city council and they thwarted anything and everything Bernie tried to do. So Bernie did some basic common sense stuff that the good old boys just couldn't argue with. Bernie's staff conducted the first audit of Burlington's pension system in a quarter century. They moved the city's money into higher yielding accounts. They raised fees for building permits and for utilities that dug up the city streets. They ended the city's old crony insurance contracts and opened them up to competitive bids. All together, Bernie saved the city of Burlington hundreds of thousands of dollars. The old guard couldn't stop them and next election they were voted out of office. Bernie was faced with the plan left over from Mayor Gordy to privatize Burlington's waterfront on Lake Champlain with expensive condominiums. Bernie fought that plan in court and instead of high-end condos on the shoreline, he and his team created a public park, a community boat house, a marina, a bike path and some residential and commercial development as well. Bernie is that he created a city government that put the needs of people first and the needs of business second and that's exactly the way it should be. There's no reason why business cannot prosper without raping and destroying the very society that supports it. Bernie calls it democratic socialism. I call it social capitalism. And Bernie built a city government that endured. He created CEDO, the Community Economic Development Office. It spawned and supported not only Ben & Jerry's but other little companies that are now national like Gardner Supply, Burton Snowboards, Seventh Generation, Magic Hat and Lake Champlain Chompers. Bernie's time as mayor. And CEDO exists to this day targeting assistance and loans to small businesses, micro enterprises and employers who provide livable wage jobs. It was during Bernie's administration that plans were conceived to create a supermarket for Burlington. Today, city market is one of the highest volume supermarkets per square foot in the country. And it was Bernie who helped Will Rapp take garbage strewn land at the introvale and turn it into productive farms that now supply over 10% of Burlington's food. The way Bernie ran the city of Burlington was just good business. But Bernie has always been about more than doing the right thing at home. He's always understood that we're all interconnected. That if you care about people, it doesn't matter what country they were born in. He's not a politician who sticks his finger in the wind and says whatever he thinks voters want him to say. He is a leader who sticks to his principles and does what he truly believes, anti-war. He's always been for solutions based on peace and justice. Of all the candidates running for president, it's Bernie Sanders who has been most consistently opposed to killing people in other lands in our names and in with our money. Ted Fastly resisted U.S. intervention in the internal affairs of other countries. He voted against every bloated defense budget since he got to Washington. He poses U.S. intervention in Venezuela and Iran. Republicans and Democrats together to pass a resolution to prevent the U.S. from participating in the Saudi-led war in Yemen. You have seen him in action know that Bernie lives and breathes peace, justice, and common sense. He has dedicated his life to it and he has done it successfully in the face of opposition from entrenched interests. It's not often. This is the first time in, well, no, it's the second time in my life that we have the opportunity to elect a president that truly represents our values. A man who has proven himself and has withstood the rigors and spears and arrows of 40 years in public office and has never wavered, he is tried and true. We in Vermont know Bernie and can vouch for him like nobody else can. We have this opportunity, but only if we work to make it happen. So how do we do it? Well, the first thing that we can do right here, right now, today is on your way out. You go over to that blue tent over there. It's a beautiful blue tent. It's all the way over there. And what they got there is some Bernie bumper stickers. You take one and you stick it on your car. If you got two cars, you take two. If you got some friends that want to stick it on their cars, you take some for them too. And if anybody in that tent says you can't take that money, that many, you tell them that I said so. Because in Bernie's campaign, I am the king of bumper stickers. The king of bumper stickers is that I believe in bumper stickers just about as much as I believe in Bernie. When you put a bumper sticker on your car, it means something. It's worth more than buying TV ads because it's your personal endorsement and that can't be bought. There might not be that many of us in Vermont, but two thirds of us voted for Bernie. And there's a lot of tourists going to be coming through here this summer. If every other car those tourists see has a Bernie bumper stick on it, that's going to be big. That's going to be alive. Know this guy and they support him.  Don't forget the blue tent as many bumper stickers as you want. I said, we've got a presidential candidate worth working for. Let's pull out all the stops. Let's elect Bernie Sanders, president of the United States. Each journalist and activist, Sean King. My wife and our kids loaded up our car and drove six hours from Brooklyn to Burlington because we lose Bernie to you today.  I tell people that right now, we could go to any website for anybody running for president. And all of those websites are amazing. They'll all inspire you because now that they're running for president, the candidates believe in every good and perfect idea imaginable. But Bernie's website is not just a brochure for who he hopes to be someday. He's not just telling us what he'd do if he would become president. Every idea that's on Bernie's website emanates from the life that he actually lives right now. Bernie's website is rooted in what he's been fighting for his entire life. For me, and I hope for you, the greatest indication of what you'll actually do as president isn't what you put on your website. It's not what you promised on the campaign trail. The greatest indication of who you'll fight for and what you'll fight for as president is who and what you've been fighting for your entire life. And listen, not a single political leader in this country has more consistently fought for everyday people and their rights and their dignity and their safety and their future like Bernie Sanders. And nobody knows for a young civil rights activist and organizer to grow up and one day join the government but never actually lose his sensibilities and spirit as a fighter against the status quo. I've said it before, but Bernie has been giving the man hell for over 70 years, right? This week, I hope you saw it. When Bernie stood up for McDonald's workers this week, working side by side with them, they invited Bernie to stand with them. And when he did it, half of the other people running for president followed suit because Bernie sets the trends. Drivers of Uber and Lyft, as their founders and executives reap billions and billions of dollars but their drivers aren't even making minimum wage. And Bernie is standing with those drivers. Bernie consistently has been standing with the workers of Walmart as they work day in and day out owned by a company with owners of family that is literally the richest family in our country. But most of them literally cannot pay their bills. And Bernie stands by them.  Bernie right now is a bulldog for the environment, for clean water, for clean air, for the preservation of public lands. He writes, not just in the United States but all over the world and he's been speaking out against war for over 50 years. He voted against the disastrous war in Iraq and he's speaking out today against the gross actions going on right now in Yemen. And Bernie's speaking out against a foolish war that it seems Trump wants to start with Iran. Listen, we need an anti-war president and Bernie has been fighting for peace his entire life. To some people that actually get him, that understand him and really understand what he means to this state and what he's done right here in Vermont as a leader in why he is literally the single most popular senator in America because you know his character and you know his record. Listen, no single senator in the nation has consistently had approval ratings as high as Bernie Sanders with the voters of Vermont. He's the single most popular senator in the nation and not only is Bernie the longest serving independent in the entire history of the United States but for 21 straight years he's never received less than 63% of the vote in Vermont because you have Bernie's nationally and it's gonna take you telling it and letting people know because every single year that Bernie was mayor of Burlington his approval ratings went up every single year. Every single time he was reelected all four times he was elected by a larger margin than he was the previous term. Now the first time he was elected it wasn't hard to win by a larger margin because he just won by 10 votes. Margin grew by thousands of votes every year after that. And for just a moment as I close I wanna brag not just to all of you here but to the whole world about Bernie's life of leadership in Vermont. Because so much of what Bernie has fought for here in Vermont was really rooted in his love of Dr. Martin Luther King and what Dr. King was fighting for at the end of his life. Listen, do the research and find out and see for yourself that at the end of his life Dr. King was fighting for workers' rights. He was fighting for fair pay. He was fighting for affordable housing and he was fighting to end senseless wars. And when Bernie moved to Vermont he tried his best to pick up that mantle and run with it and you've supported him every step of the way. Stories are told everywhere. Cause I regularly hear people ask what has Bernie actually done? And Bernie has done so much across the years but he's too humble to brag about it and tell the story himself. So we have to tell these stories for him. Listen, there are two beautiful stories that I wanna leave you with. In 1984, when Bernie was the mayor of Burlington he started funding something called the Burlington Community Land Trust and he started doing it just $200,000 at a time. And the idea was that the city would partner with families in creative ways so they could have affordable housing. And today that trust that really started being funded when Bernie was mayor has a portfolio of 3,000 affordable homes worth over $300 million. Bernie Sanders' single largest home ownership trust in the entire nation. And the families who live in those homes are 10 times less likely to ever default on their mortgages. And these are the types of creative ideas that we would see from President Bernie Sanders. The apartments that were built had to allot at least 25% of their units for affordable housing. And he made sure that those people who built those units guaranteed they were affordable for 99 years. Mayor Bernie Sanders did that. Now that's more than any other city in the nation and when Bernie started doing that as mayor it was a novel idea but now almost every big city in the country is now doing what Bernie was doing in the mid-1980s. 36 residents of the Northgate apartments in Burlington risked being evicted or displaced when the owner was going to double their rent. Bernie literally said, and this is a quote, over my dead body will these residents be displaced?  In 1986 he really helped lead an insurrection with the residents of that apartment complex and he raised the money for the city to buy that apartment complex. And he started something so that over the course of 20 years the 336 residents of the Northgate apartments would actually own the entire apartment complex. It is one of the only controlled and managed apartment complexes in the entire country and Bernie Sanders helped make that happen. Unemployment rate of any city in America mind them that right now in Vermont this state has the lowest unemployment rate of any state in the nation. This has helped create the climate and the culture that's attractive to businesses that have provided many of you with the jobs you have today. Right now Vermont has the sixth highest life expectancy rate. Almost every year for the past 10 years Vermont has been rated the first or second safest state in the nation. The past 10 years Vermont's public schools have been ranked in the top five in the nation and Vermont is the second most money per pupil of any state and has the best teacher-student ratio in the nation. And it's why we need to elect him as president. Bernie knows that when a state has affordable housing, when a state has good jobs, when a state has low unemployment, when children have good schools, when the air is clean and the water is clean, guess what else goes down? Prime goes down. Despair goes down. Hopelessness goes down. And over 30 years ago, Bernie said these words and it's a quote and I'm so touched by it because we are living really in his prediction. Bernie said, quote, maybe, just maybe in Vermont we will strike a little bit of a spark that might spread across the country. Senator, but Vermont, I believe it's time that you take the spark that was started here. I believe it's time that you take that spark and help make Bernie Sanders the next president of the United States. Christopher Harness, let me thank Blaine Kennedy Fitzgerald that young lady from Colchester, what a beautiful voice. It was one of the most beautiful forms in the state up in Reagan. Welch, Peter and I have worked for so many years on so many years, just thanks for your work, Peter. And let me thank long time friend, Ben Conn, ran for president on a message that said a chicken in every pot. Well, maybe we run in 2020 on a message that says cherry Garcia in every freezer. Thank you, Ben, for all you've done for this state and country. And let me thank Sean King and his family. Sean is one of the real leaders in addressing a major, major crisis in this country. And that is the need to reform a racist and broken criminal justice system. I want to thank all of you for being here this afternoon. Looks like we're getting a little sun. Let me mostly thank the people of the state of Vermont who have given me an opportunity that when I was a kid, I never would have dreamed of in a million years. And that is to be the mayor of Burlington, to be a United States congressman from Vermont, and now your United States Senate. It has been the honor of my life. And I thank you all. He is standing in front of our beautiful state house. We can reflect a bit upon the history of our small but proud state. We were the first state in the country to outlaw slavery. Vermont was a major part of the underground railroad. We're the first state in the country to mandate public funding for universal education. More recently, we were the first state whose legislature voted to legalize same-sex marriage. It's a state which, over the years, has held its head high in the struggle for human freedom and justice, and is a state that I know will continue to do so. Working together, we have accomplished much for our state. Starting in Burlington in the 1980s, as Sean just mentioned, we were the first municipality in the country to fund a community land trust that not only gave working people the ability to own their own homes, but to make sure that those homes would be perpetually affordable. And that idea has spread not only all over this country, but in fact, all over the world. The crisis in healthcare, we are proud that Vermont is helping to lead the nation in expanding federally qualified community health centers. For a look, we have expanded and improved veterans' healthcare at the VA in White River Junction throughout the state. As the former chairman of the US Senate Committee on Veterans Affairs, I have always believed that the men and women who put their lives on the line to defend our country deserve the best quality healthcare this nation can provide. An energy efficiency and the movement of the sustainable energy that climate change is real. In Vermont, especially relevant in this particular moment in American history, given what is happening in Alabama, in Georgia, and all over this country. In Vermont, we understand that women have a constitutional right to control nations in the US Congress or the state governments or the local government that will control a woman's body. It is the women of this. Now, as we assemble today, here in front of our beautiful state capital, in this pivotal, an unprecedented moment in American history, I am here today to ask for your support to help me win the Democratic nomination, to help me lead this country in transforming this nation so that together, we create an economy and a government that works for all of us and not just the privileged few. I wanna welcome you to a campaign which says with confidence, optimism, and love that the underlying principles of our government will not be greed, hate, racism, will not be sexism, will not be xenophobia, just bigotry beliefs of the Trump administration. The principles of our government will be based on justice, economic justice, racial justice, social justice, and environmental justice. To spend a lot of time talking about Donald Trump, one of my least favorite subjects, because you already have been you ever wanted to know.  You know that we have a president who has no understanding or respect for the constitution of the United States and the separation of powers and is attempting to move every single day this country into an authoritarian form of government. Who would have that we could have a president of the United States who considers the media in this country as an enemy of the people. This is praise on despotic and anti-democratic leaders all over the world, who storms out of meetings after berating and insulting congressional leaders and who refuses to obey congressional subpoenas. But that's not all. During his campaign for the presidency, Donald Trump told the American people that he was going to defend the interests of the working class of this country. He lied. Instead of protecting the interests of working people, he attempted to throw 32 million Americans off of the health care they currently have, protections that all Americans have for pre-existing health conditions. That is not defending the interests of the working class. That is betraying the working class of this country. During his campaign for president, Trump promised not to cut Medicare, Medicaid and Social Security. He lied. His budget calls for a trillion and a half dollar cut to Medicaid over 10 years, 845 billion to Medicare and billions more in cuts for Social Security. That when Trump ran for president, he said, you know what, we're going to have a tax plan that will not benefit wealthy people. Remember that? He lied again. 83% of his benefits in that tax plan go to the top 1% at the end of 10 years. During his campaign for president, Trump said that he would drain the swath He lied that Swamp is murkier now than it has ever been and his administration is the most corrupt in the modern history of the country. And dangerously, Trump is endangering the future of our country and the entire planet by refusing to acknowledge the reality of climate change and is in fact making a horrific situation even worse by encouraging the production of more fossil fuels. The scientists tell us that we have only 12 years, not a very long time, before we see irreparable, irreparable harm done to this planet and we have a president who ignores that stunning reality. But our campaign is not about Donald Trump. It is about something far more important. It is about laying out a new vision for our country, a vision that speaks to the needs of ordinary Americans, people from coast to coast who for too long have been ignored. Which is going to bring our people together, black and whites and Latino, Native American and Asian American, whether they are men or women, young or old, gay or straight, Native born or immigrant, a vision which calls upon our best instincts, not our worst. It is a vision that understands that love conquers hate together. In common purpose, there is nothing that we cannot accomplish. It is a vision which states unequivocally that in the United States of America, we believe in democracy, not authoritarianism. United States of America, in the year 2019, we have to say that. But unfortunately, we do. Too many brave men and women have fought and died to defend democracy in our country, and we will not allow Donald Trump or anyone else to take it away. We want our country to have the highest voter turnout in the industrialized world, not one of the lowest. We believe we must make it easier for people to vote, not part of. It is why we are going to take on those cowardly Republican governors from coast to coast who are trying to suppress the vote, for people of color, for poor people, for young people to vote.  That elections should be decided by one person, one vote, not building the process to overthrow that disastrous Citizens United Supreme Court funding of elections. It is not just to reform a corrupt political system. It is to create an economy based on justice, not uncontrollable and destructive greed. The wealthiest nation in the history of the world, but most people don't know that because almost all of the wealth and new income is going to a small number of people at the top of the economic ladder. As clear as I can be, we need a government that reigns in the uncontrollable greed of the billionaire class and the power of the special interest. It makes the rich much richer. We don't need an economy in which half of our people are living paycheck to paycheck, wondering how they will feed their families, pay the light bill, or put gas in the car. All three families in America own more wealth than the bottom half of the American people. The economy in which millions of workers in Vermont and around this country are forced to work two or three jobs to put food on the table, an economy where 500,000 people will be sleeping out on the streets tonight while 49% of all new income is going to the top 1%. We need an economy that allows all Americans to have a decent standard of living and to live productive and secure lives. We need an economy in which so few have so much and so many have so little. And today we think about those moms and dads in Vermont and in California who cannot afford quality childcare. And today we think about public school teachers who are taking money out of their own pockets to buy supplies for their kids in underfunded schools. And today we think about veterans who are sleeping out on the streets. We are going first for the elderly, the children, our veterans, the sick and the poor, not just the 1%. I want to take a few minutes just to give you a couple of examples of what is going on in this country when I talk about grief and how we are going to change that when we get into the White House. Example one. In America today, we have one family, the Walden family of Vermont. This is a family that is worth $175 billion. They're doing well. Meanwhile, this very same family that owns Walnut pays his workers wages that are so low that many of those employees are forced to go on government programs like Medicaid, food stamps, and public housing. In other words, working families, here in Vermont and throughout this country are paying extra taxes to subsidize the wealthiest family in this country. Insane is that. Next week, just next week, as a result of an invitation that I received from Walnut workers, I will be going to Arkansas to participate in the Walmart stockholders' meeting for allowing me to represent them at that meeting. I'm not quite so sure how welcoming the Walton family will be. But let me tell you what I will tell them. And my message to the Walton family will be pay your workers a living wage 15 bucks and continue providing corporate welfare for the richest family in America. And the message to the fast food industry is exactly the same. On Thursday, just a couple of days ago, I teleconferenced into a rally in Texas held by McDonald's workers. And I was proud to join with them in their fight for $15 an hour and the right for workers in the fast food industry to join a union. An educated issue. In the richest country in the world, if you work 40 hours a week, you should not be living in poverty. And that is why, together, we will raise the national minimum wage to 15 bucks an hour. We believe... That's the Walton family strongly. Let me give you another story. And this is something that I've been working on for a while. As you may know, Jeff Bezos. Anybody know who Jeff Bezos is? Mr. Bezos is the owner of Amazon. He is the wealthiest person in America worth about $114 billion. And for years, my office in Washington had been hearing from Amazon workers all over the country about the starvation wages they were receiving and about the unhealthy working conditions that they were forced to abide. Very proud that working with those employees, we were able to get Amazon to raise their minimum wage to 15 bucks an hour. In California, we raise the minimum wage at Disneyland also to 15 bucks an hour. But the Amazon story about greed is not yet over. Last year, after making $11 billion in profits, Amazon paid zero in federal income taxes. Economy is about you subsidize the wealthiest family in America because they don't pay their workers a living wage. And the wealthiest guy in America has a company that makes $11 billion and does not pay a nickel in taxes. And that is what we are taking on in this campaign and what we are going to take on in the White House. It is not just the low wages that Walmart pays or the ability of Amazon not to pay any federal income taxes. It goes a lot deeper than that and let me tell you something that I think no candidate for president perhaps has ever talked about. And that is the power structure of America who owns America, who has the economic and political power to demand that Congress work for them and not just ordinary people. So it is not just Amazon and it's not just Walmart. It is about Wall Street where six financial institutions have assets equivalent to 50% of the GDP of our country and control the flow of trillions of dollar. Well, you know what? Today we tell Wall Street we're going to break up the major financial institutions it is too big to exist. But it is not just Wall Street or Walmart or Amazon that are ripping off the American people. Take a hard look at the unbelievable greed and power of the pharmaceutical industry. Last year, the top 10 drug companies in America made $69 billion in profit. Meanwhile, they charge you and you and everyone else in them the highest prices in the world by far for the medicine that they need. Insanely, and it is insane, one out of five Americans cannot afford to fill the prescriptions their doctors prescribe. It is for the drug companies. The cost of prescription drugs by 50% whether the drug companies like it or not. It is not just Amazon, Walmart, Wall Street or the drug companies. It is the insurance industry as well. We're ready to take on the insurance industry. The five major insurance companies made $20 billion in profit while maintaining a dysfunctional system that cost us twice as much per capita for healthcare as any other country. You got that? We spend twice as much per person on healthcare as do the other countries that provide universal care. And here is what a dysfunctional healthcare system is about. Last year, the CEO of Etna, Mr. Berlini, got a $500 million bonus for engineering a merger between Etna and CVS. 34 million Americans have no healthcare. Even more are underinsured with high deductibles and high copayments. And this system allows one man to make $500 million for a merger. Well, we have a little different vision just a little bit as to what a humane and rational healthcare system should look like. We believe that healthcare is a human right, not a privilege. A healthcare system is to provide quality healthcare to all people and not to make billions for the insurance companies and outrageous compensation packages for CEOs. And that is why, despite the hundreds of millions of dollars that the insurance companies and the drug companies will spend against us, I suspect they're going to make me a very famous guy on 32nd TVX. But despite all of their line and all of their ads, yes, we will pass a Medicare-for-all single-player program for the United States to end the international embarrassment of being the only major country on Earth not to guarantee healthcare to all and we are going to end that embarrassment. But it's not just Wall Street and the drug companies and the insurance companies. Let me say a word about something that very few people talk about and that is we need to take on the military-industrial complex. To the military-industrial complex that we will not continue to spend $700 billion a year on the military. We want and need a strong defense but we do not have to spend more than the next 10 nations combined. To invest in education, we're going to invest in affordable housing, we're going to invest in rebuilding our crumbling infrastructure, but we are not going to invest in never-ending wars. Military policy. Let me say a word about foreign policy because they are obviously interrelated. Now recently I have been attacked in the media because of my views, actions and votes on foreign policy issues. So let me be as clear as I can be. Yes, as a young man along with Dr. Martin Luther King Jr. and many others, I marched against the war in Vietnam, ravaged my generation, which left 59,000 brave young Americans dead as well as killing over a million Vietnamese people. I make no apologies for having opposed that war. House of Representatives, I helped read the opposition to the war in Iraq. Dick Cheney or John Bolton or President Bush and others when they told us that Iraq had weapons of mass destruction and that we had to invade that country. The war in Iraq turned out to be the worst foreign policy blunder in the modern history of our country and has led to the destabilization of that entire region with more war, more death and more suffering. I make no apology for leading the effort against the war in Iraq. But recently I am proud to have been the lead sponsor on a resolution that for the first time in 45 years utilized the War Powers Act to get a majority vote in the House and the Senate to get the United States out of the horrific Saudi-led intervention in Yemen. A war that is unconstitutional. Frankly, if we do not end that war soon, hundreds of thousands of men, women and children according to the UN will die this year in Yemen and millions more will face starvation in years to come. I make no apologies to anyone for trying to end that horrible war. Right now, this minute, I am doing everything that I can working by the way with some honest conservatives in the Senate to prevent Donald Trump and John Bolton from taking us into a war in Iran. Much more destructive if you can believe it than the war in Iraq and could lead us, literally, to perpetual warfare in that region that not only this generation of members of the armed forces would be there, but their kids and their kids. So I make no apologies for trying to do everything that I can to make sure this country does not get into another war in the Middle East.  Today we say to Donald Trump and his friends in the fossil fuel industry that climate change is not a hoax but is an existential threat to our country and to the entire planet and whether the fossil fuel industry likes it or not, we are going to transform our energy system away from fossil fuel to energy efficiency living grandchildren here today grandchildren. And what the struggle about climate change is about them and every child in this country and in the world. We have a moral responsibility to make sure that the planet we leave those children is a planet that is healthy and is habitable. Everything possible to have the United States bring countries all over the world together because we have a common enemy in climate change. Instead of spending over a trillion dollars a year on weapons of destruction all over the world, what about bringing the countries together to fight the common enemy of climate change? Justice in this country, we are talking about racial injustice. At a time of overall and massive levels of disparity in the United States the situation is much worse for African American families. It is not acceptable to me or to you that black families own one tenth the wealth that white families own that the infant mortality rate within the African American community is two and a half times higher than the white community that redlining and housing continues to exist that black businesses are unable to get the loans that they need that black school districts are underfunded and that an enormous amount of racism exists within our criminal justice system. So let us be very clear when we talk about justice we mean ending institutional racism from one end of this country. This insistence, when we first launched our campaign in 2015, right up in Burlington very few people took that campaign seriously. The ideas that we talked about four years ago were considered by establishment politicians and mainstream media to be radical and extreme ideas. They said that nobody in America would support. Well, a lot has happened in the last four years. Raising the minimum wage to a living wage not so radical today. Guaranteeing healthcare to all as a human right not so radical today. Up to 15 million jobs by rebuilding our crumbling infrastructure not so radical today. Legalizing not so radical today. And by the way, those ideas that we talked about four years ago that seem so extreme at the time. Well, today virtually all of those ideas are supported by a majority of the American people and have overwhelming support from Democrats and independents and they are ideas that Democratic candidates from school board to president are now supporting. Let me just conclude by telling you what we're going to do when we make it to the White House. We're going to provide universal and affordable childcare for every family in America. Thank public colleges and universities to wish in free to substantially lower the outrageous burden of student debt to people all over. When we talk about criminal justice reform we mean that there will be no more private prisons or detention centers because they are too poor to afford bail. We say that when we are in the White House we are going to end the demonization of undocumented immigrants in this country. We're going to pass something that is long overdue and that is comprehensive immigration reform and a path toward citizenship. Status for the 1.8 million young people eligible for the DACA program will have a humane border policy for those who seek asylum. Administration babies will not be slashed from the arms of their mothers. Administration, Amazon, Jeff Bezos profitable corporations and the wealthiest people in this country will start paying their fair share going to end the epidemic of gun violence pass the common sense gun safety legislation that the overwhelming majority of Americans want. People who should not have guns will not have guns. So let me conclude by saying this this is a pivotal moment in American history and Donald Trump and his friends believe they can win the coming election by dividing us up based on the color of our skin or where we were born or our sexual orientation or our religion. They think getting us to hate each other is their path to victory. Well I've got news for Donald Trump that it's not a path toward victory that is a path toward defeat. So while it is true that the 1% in this country and the profitable corporations have enormous wealth and power it is also true that 1% is 1% and 99% is a hell of a lot bigger number than 1% Together and keep our eyes on the prize we are not only going to win this election we are going to transform this country and create the kind of nation that you know we can become. Thank you all very much.


Hi, I'm Tianba Yang. What I like most about the Henry Library is it's so easy to turn the pages. You just tap once and you will turn to the next page or you can use two finger taps on the tablet. It will jump to the beginning if you have a repeat which is so easy and also if you don't have a free hand you can use bluetooth pedal to turn the pages. This makes it possible for me to play some time also from scores when I play chamber music for example which is so wonderful.


Just a quick top tip, this is the leaf of a horse chestnut or you might know it as a conker conker tree and in here is a natural serp. It's a mild antiseptic and inflammatory so if you get caught short and you don't have any serps this is it's really simple. I'll make it quick get your leaves a little bit of water on there you can feel the sort of lubrication of the serps coming out there you go lovely actually it's really fresh stay safe


Is it hard to get a plane? Yeah. How do you do? It's a lot of money. The Dodgers are playing the Podges in Korea. I called Korean Airlines, set up a meeting, and I'm talking to the executive West Coast region of Korea. How much does it cost to rent a plane? There's two things. There's two things. Either you could charter a plane, which is from here to Korea, it's like a million dollars each way. Billion dollars, seriously. If you take it on your own. Or you could charter 80% of the plane, and that's how you get group tickets. Which is how many seats? It depends on the plane. I think on that one, it's just like 400 people, so I'll be able to reserve like 200 tickets.


Hello, and welcome to This Week in the City. Highlights brought to you from the Public Relations Media and Marketing Department with the City of Columbia. I'm your host, Alicia Utsi, and we have a very exciting week in the City. We have a very busy day on Tuesday, June 11th. We start out the day with BOSA, the Board of Zoning Appeals. BOSA will meet starting at 10 a.m. at City Hall and Council Chambers. For agenda items, visit our website at columbiasc.gov. You can also watch the live stream at columbiasc.gov on Tuesday starting at 10 a.m. Also on Tuesday, Parks and Recreation will host a senior jamboree, starting at 10 a.m., ending at 3 p.m., at Dutch Square Mall. This event is free and open to the public, and especially all seniors, so come out and have some fun. Also on Tuesday, on Tuesday afternoon at 2 p.m., join the Mayor, City Council members, and community leaders for a grant opening and ribbon-cutting ceremony for a new community center at Hampton Park. This ceremony again begins at 2 p.m., and there will be a ribbon-cutting followed by tours of the new community center. For more information about this event, contact Parks and Recreation at 545-3100 p.m., or visit our website at columbiasc.gov. Also on Tuesday, June 11, City Council will hold a special called meeting, starting at 6 p.m. in Council Chambers. For agenda items, visit our website at columbiasc.gov. And rolling into Wednesday, on Wednesday, City Council members Tamika Isaac-Devine and Councilman Howard DeVall will host their monthly at-large open house, but you must call first to schedule an appointment. Please call 545-3061, again 545-3061 to schedule an appointment in advance for the at-large open house with Council members Tamika Isaac-Devine and Howard DeVall. Also on Wednesday, don't forget it's Wagalong Wednesday for the Fireflies Baseball Gains at Segra Park. Now Colummy Water Staff will be there to remind our park-goers to please trash the poop. You're welcome to bring your dogs to Wagalong Wednesday, but also make sure you keep a tidy and clean park afterwards. As we move into Thursday, DDRC, the Design Development Review Commission, will meet at 4 p.m. in Council Chambers. For agenda items, visit our website at columbiasc.gov. And moving into the weekend, don't forget that it is Father's Day weekend. And on Saturday, June 15th, Mayor Steve Benjamin will host his annual Father's Day Cookout, starting at 12 p.m. and ending at 4 p.m. at Hyatt Park at 950 Jackson Avenue. This event is free and open to the public, so bring your dad to Mayor Steve Benjamin's annual Father's Day Cookout on Saturday, June 15th, from 12 p.m. until 4 p.m. at Hyatt Park. For more details about the Cookout, call Parks and Recreation at 545-3100. And for any information or more details about any of the events that I've mentioned, you can call Public Relations, Media and Marketing at 545-3020. Visit our website at columbiasc.gov and make sure you follow us on all of our social media platforms, on Twitter, Facebook and Instagram. And don't forget to check us out on YouTube for your on-demand shows from City TV as well as other city events. We thank you for watching and we hope you have a great week in the city.


Last class we saw about the porters 5 forces model study the characteristic of an industry and measure how attractive an industry is now we saw the porters diamond for country level analysis the porters 5 forces for industry level analysis a porters diamond could probably give some inputs on how different countries are competitively placed from different perspectives industry analysis how one industry is structurally attractive than the other industry these are all very important models when it comes to taking decisions as to whether this country is better than this country this industry is better than the other industry now suppose there are entities or organizations which are very huge where they have multiple business interest big corporations conglomerates we call them or one big corporation or an organization that has multiple product streams a product portfolio and as the chairman or as the group leader as the leader for these group companies how do I know whether within the same conglomerate company a company b company c there are different entities within a conglomerate now how to understand and study how each of them differ just as different industries we are able to characterize and tell that this is better than the other can we do a similar analysis to understand the competitiveness or how one business operation within a conglomeration is placed relative to another business operation within the corporation or the conglomerate now that we can do by again understanding a different model in this case we will be I will be explaining to the class two models that we would be using the first at a broad level we should understand why this is necessary I gave you an example this is this is necessary let us for example say that we have a big conglomerate now what is a conglomerate before I go and tell you what it is now we should first understand there is a need for big corporations which has a number of subsidiaries or we call them the strategic business units or one big organization that has multiple product streams and we need to understand the performance of each of these subsidiaries or each of this product relative to the other just as we had the five forces to understand the attractiveness of an industry we also need some structured model to understand the relative performance of one SBU over the others one product line over the others now conglomerates are big entities under whom they have different business enterprises classic example is G in our case in the in India we have Tata the Tata sons and subsidiaries or the other group entities are the Tata chemicals the Tata power the Tata consultancy services that we see these are all the subsidiaries of the big conglomerate called the Tata or ITC or in Japan the Mitsui or the Mitsubishi these are called usually in Japan they were used to be called the Zybatsus and now the Kerutsus so these are the big conglomerates or in Korea they were they referred to as the Cheybals the Samsung in Korea or in some pharma companies for example it could be one pharma company they have multiple product lines one for neural disorders one for cancer one for cardiovascular diseases and each of them by itself is a big business proposition so you have multiple product which can also be viewed as individual subsidiaries of a big conglomerate within the same organization but the requirement is that we need to understand the relative performance of each of these entities relative to the others within the umbrella so that we get a bird's eye view of the entire corporation suppose I am Ratan Tata as the chairman of the Tata group I need to know how Tata chemicals is performing how Tata power is performing how Tata T is performing for that we have two models one is the BCG matrix and the other is the GE McKinsey matrix which can be used to make this bird's eye view analysis of a big corporation which has a number of subsidiaries or an organization which has critical business I mean product lines and to make this relative analysis let us first take the BCG matrix as the name suggests BCG is the acronym for the Boston consulting group which is a leading management consulting firm in the world one of the leading management consulting firms in the world and this was developed in the 70s by Bruce Henderson from the BCG group now the matrix it divides the entire portfolio into four distinct categories these portfolios could be as I said before different companies or different product lines and each of them will fall under four specific categories and these categories are based on two parameters one is the market growth the growth in the market and the other parameter is the market share based on these two parameters these four categories are formulated and also that some businesses need cash to grow some businesses generate cash and since we are talking about the bird's eye view a business that generate cash the cash from that business will be used to invest in a different business under the same group because that business is in a growing market and hence we need investment and cash from a cash rating business gets invested into another business which needs to grow and over a period of time that might also start generating cash but the understanding that is required is that there is a need to invest get the market share and become the market share leader and if we are able to do this over a period of time and this you can do only if the markets grow if it is a growing market and in the process there is this experience curve learning and the gains of that learning actually develops into a cost advantage so in a growing market with investments into a business making that business gets a market share and able to do this over a sustained period of time with the learning curve experience businesses get the cost advantage so these two important things are required that the market should grow and in a growing market that the business has to also acquire some market share let us understand the definition for market share in a very simple layman's term it is the proportion of if you are talking about the market share of a business a particular business it is the proportion of the business share in the total market this proportion could be measured in terms of the number of units of the product that is being sold or the volume of the service or product that is being sold or delivered or the value of the sales itself so both are measurable and with that also we can calculate both of these we can calculate the market share let us say the market share of business X then the market share of business X is the sales value which means the total amount of rupees that selling X has generated or the total number of units of X that has been sold divided by the entire sales in that particular market which includes sales by competitors that gives you the market share suppose I want to know the market share of TVS Suzuki bike it is the number of bikes that TVS motor sells or the total rupees the TVS motor generates as sales divided by the total number of bikes sold by the two wheeler industry as a whole which includes the total number of bikes sold by Hero Honda by Bajaj then TVS motor and all other two wheeler manufacturing units so this gives the market share there is also another term that you should know that is called the relative market share let us again take the example if I need to calculate the relative market share of TVS motor company then the relative market share is TVS motor's market share divided by the market share of its closest and strongest competitor I think closest would be a better word its closest competitor and the relative share is greater than one then you are the market leader because it will be your market share divided by your closest competitor if he has a lesser market share then your RMS is greater than one the highest RMS means that you are the market leader it is always greater than one so this relative market share measures the market leaders the organizations market share relative to its closest competitor now there is also another indicator which is the market growth market growth measures the attractiveness of a market now market growth rate is let us say this year sales minus the previous year sales divided by previous year sales is greater than one then it is a growing market and always in a growing market since the market grows it always attracts competition because the size of the pie keeps on increasing and everybody wants to have a share of the pie and to have incremental shares of the pie you need additional investment so a growing market attracts competition and also needs investment to gain more market share in this growing market so there are two important parameters that we will be using in the BCG matrix the market growth as well as the market share relative market share now as I said before the BCG matrix divides these group companies into four distinct categories and they call the stars the cash cows the dogs and question mark now we are using two important parameters the market growth as well as market share because market growth is a proxy for the attractiveness of the market and needs investment cash investment and market share is a proxy for competitive advantage because the more and more somebody gets market share it means there is something competitive that the service of the product has got to offer and it also proxy for cash generation so market growth is for industry attractiveness and cash investment and market share is a proxy is a reasonable proxy for competitive advantage and cash generation so if you look at the BCG matrix on two axis which is market share at the x axis and the market growth in the y axis based on whether they are higher or low these four categories are being placed the dogs the question mark the stars and the cash cows so these are the four predominant categories in a BCG matrix and what each of them characterize stars as you see here high relative market share and high market growth and stars are typically the leaders within that group and that is the most desirable business that any group will like to be in any business would like to be in the stars category and these stars category because it is high growth rate and also high market share which needs to keep on growing requires heavy investment to maintain its large market share as well and indeed it leads to large amount of cash conception because investment is required and since it is also a high market share and growing market it also leads to cash generation because as I said before growing market market share both is related to cash and growth is cash investment and market share is cash generation and if you are high on both means you are investing in cash as well as generating cash and since I said this is the desirable sell that many businesses that want to be many of them would be attend to be under this category and assume that over a period of time that the growth in the market declines and market share remains the same then is the next category which will make stars to become cash cows now cash cows as you see in this matrix low market growth and high market share. So these are typically yesterday stars and this cash cow also forms a foundation of the corporation itself because these are the ones that will be generating cash this will generate more cash than required because the cash that is generated is not been invested because we are talking about a declining market growth a low market growth and a high market share. So it keeps on generating cash and it extracts profit and we are talking about profitable business typically you find companies in this category they will be in industry that is mature which means there is no room for further growth and typically these are the cash cow firms are the ones that provide funds for the group R and D the group admin expenses dividends to be distributed to service corporate debts. So these are the firms that provide the corporates cash requirement as well the next would be the dogs as we see here this will be low in market share as well as low in market growth. Now these are the cash traps they do not have the potential to bring in much cash and these are the types of firms that we need to eliminate how do we eliminate them we just liquidate them sell it sell it for cash and these are companies where there when there is no market growth there is no market share there is no point holding companies under this category. So these turnaround plans we have to be really cautious when we are examining these turnaround plans because we are talking about companies under this category which has both a low market growth as well as a low market share and these are companies that are fit candidates for disposal for cash. The fourth category is the question mark which belongs to the high market growth and low market share invariably many businesses start this way because you do not start with the high market share at day one so you find there is a grid potential for growth in the market and when you start you have low market share and the cash characteristic appears to be the worst because you are using a lot of cash and starting with low market share generating very little cash. Now why is this because this is the characteristic for any new business we need to start somewhere and we start from the question mark category what will happen over a period of time is question marks will eventually have the potential to go into the stars which means they would have relatively grown and also along with growing market also have a growth in the market share and finally when the market declines will become cash cause. The challenge is to identify such candidates if you look at this when you are at question mark stage the challenge is to identify good question mark candidates invest in those that have the potential to be converted to start so you have to prioritize good question mark candidates and convert them into stars and the rest you divest away from that business that is a very tough challenge to choose from the question mark categories. Now why are we doing this this I said before it is to assess various businesses or various product lines and the cash behavior of each of these businesses and product lines whether they are generating cash or consuming cash and based on this how we can allocate the resources there is no point in allocating extra resources for a firm that is in the dog category and if you find that there is a potential for a firm in the question mark category to be converted to stars then we are able to invest into those firms which can be potentially converted to stars. Now this we can do only if we are able to place these firms in these different categories. How do we do this now let us say I have a big corporation and there are easily identifiable businesses or different product lines or different strategic business units within the same firm take each of the firms relative market share and the growth of the industry in which the firm is participating or each of the products relative market share and the growth of that particular product itself in the industry and then classify all of these products or businesses into these BCG matrix and then you get a clear picture which measures the relative position of each of these firm against each other and then that becomes easy for you to make strategic decisions this is the use for a BCG matrix because it helps you to quickly scan the corporate scorecard and then based on that you will be able to take quick decisions how to deploy these cash extra cash that is been generated from cash goes whether we need to put it in stars or question mark definitely not in dogs but this decision you will be able to take only if you are able to categorize these into all these four categories and this is very important from the perspective of maximizing the future growth and profitability of a corporation. Of course there are limitations to it because this is based only on two data that is the relative market share and market growth data times even getting the data becomes very difficult also high market share does not mean profits all the time so there are times where units businesses could have the highest market share from a profitability perspective it is not that good and also businesses with low market share can be profitable as well and sometimes even the dogs generate more than cash cause because liquidation can even generate more cash than the cash cause themselves. So there are some limitations to this BCG matrix that we should be cognizant of before we use them and being aware of these limitations we still can use the BCG matrix. The next matrix is the GE McKinsey matrix this is actually developed by McKinsey for GE which again uses two parameters the business units strength and the industry attractiveness the industry in which the business unit is situated and then characterizes each of the business unit into nine different categories high high high medium high low and so forth. The broad requirement why we need to do this is all the same both maps strategic business units on a grid in this case the GE McKinsey uses the industry attractiveness and the SB use position the strategic business units position in the industry and in BCG matrix we used just the relative market share and the market growth whereas in GE McKinsey matrix the industry attractiveness and the business unit strength is measured on various other parameters which I will be giving later. In BCG you just have four categories whereas in GE matrix you have nine cells. Now the industry attractiveness and the business unit strength in this matrix are calculated and quantified we give a value to this. Now how do we do this we identify various criteria that we think measures industry attractiveness or is relevant for business unit strength and not only that how much relevant it is suppose let us say industry attractiveness and identify ten parameters and give a weight age to each of that and then we have a relevant score to each of the parameter and the weight age multiplied by the score and the weighted average gives the final quantified score that measures industry attractiveness or business unit strength. Based on that score we place the entity into any of these nine cells. Now what are the factors that we may use I am not saying this is the exhaustive list we can add more to this list as long as we feel that these factors are important to measure the industry attractiveness. Again we are going to use market growth rate and market size, demand variability, industry profitability, industry rivalry, global opportunities, the macroeconomical factors best is the political, economic, technological and social context some will appear to be qualitative but the challenge is to provide some valid scores to the qualitative indicators a quantifiable score and how much weight age to each of these parameters. So once we attach weight age to each of these parameters and a relevant score to each of these parameters and they are arithmetic and the weighted average provides one score that measures the industry attractiveness. Likewise for business unit strength see GE is a big conglomerate it has GE healthcare, GE power, it has the aerospace so it has a variety of such businesses. So if we are talking about GE aerospace the industry attractiveness of the aerospace industry has one score and GE aerospace which is the business unit strength the strength of GE aerospace as a business has one score and then we are going to put it in a particular cell which again is measured based on the market share of GE aerospace growth in market share, the brand equity that it has the distribution channel access if I am talking about let us say if it is GE electric consumable electrics through distribution channels the production capacity which is more these are all relevant to the business unit the profit margin relative to competitors and again this is not the exhaustive list you can add more to this list and finally based on the weight age to each of the factors and the score to each of the factor we have a particular score that measures the business unit strength. So each business unit now can be portrayed as a circle plotted in this matrix I will give you an illustrative GE mechanism matrix for you to interpret and understand this better in which the circle that gets into the matrix I will just show this and then you will understand this. So we have a circle we have a percentage here. So what it means the size of the circle represents the market size and the market share is shown by the pie in the circle and the expected future position you see an arrow here is portrayed by means of that arrow that actually it actually forecast the future position of that particular strategic business unit. Now for example if we are using this matrix and arriving at the matrix for a big conglomerate this is how it will look based on this course this particular SBU let us say the circle is as I said before the size of the circle represents the market size of that particular SBU and if it is bigger it means it is a bigger market if it is small it is a small market and within that market it has 65% and an arrow pointing towards that in this case a strategic business unit strength is low but the market attractiveness is very high which means we need to build that unit selectively build it. So we take different decisions based on where this strategic business unit is in this matrix and take decision to invest or consolidate or just maintain manage or divest or harvest from that business so that explains this illustration if you have a high and low here it tells you to build selectively high business unit strength but low market attractiveness so you need to be very selective in your building and if a high market attractiveness and high strategic business unit strength you will have to protect that position or you need to invest if market attractiveness is very high and you have a medium business unit strength you invest to build and consolidate the business unit strength. So you have different combinations that are possible and just as we used BCG matrix to get this bird's eye view of a corporation we used a similar GE vacancy matrix to again see where this business unit is positioned and compare the positions of various business units and measure on a relative basis and then take decisions whether to invest or divest and what to do to just manage and stay where we are. So these two are the important models that we use to understand the relative position of different entities and businesses under a corporate umbrella and the best way to understand this better is to work out on serious examples. As I said before a very good example that you can use and work is the group of Tata the Tata group and then you do this analysis and put different entities in different cells and put yourself in the shoes of Ratan Tata and ask the question what am I to do with those businesses that are in dogs or in question marks you can do this analysis if you do a BCG matrix of the Tata group or a GE vacancy matrix of the Tata group. So the best way to understand this and appreciate this better is to take such example the Tata or the ITC or the Reliance and come out with a BCG matrix on your own and in fact I would suggest that this is an assignment for you that you come out with a BCG matrix for the Tata or the GE vacancy matrix for Reliance and then you will understand this concept better before I conclude I will also show you a small video of a very good explanation of the BCG matrix of a very famous corporation and once you watch this video you will also understand the thought process behind this matrix requirement and this in my opinion will also help you in preparing a matrix for an example that I asked you to do so I will you just watch this video and then as an assignment you can start preparing a matrix for any of the corporation that interests you the most thank you.


It's time now for Mountain Music, being brought to you by the Mountain Arts Center, the main stage of the country music hyena. The influence these mountains have on an artist is undeniable and can definitely be heard and felt in the music of Sunday Best. When it's been everything I think that the spirit that we try to convey on stage that we do convey I think is just a pure reflection of the energy that we were raised in and the love that we were raised in. It's just such a part of the culture that my biggest influence is where the people I saw on a daily basis, my dad certainly instilled to this day is a great musical influence on me. For Nick and Chris the ability to play, sing and write music is nothing short of a spiritual experience. It's just therapy and it's everything. You know it's love, it's understanding, it's everything good and just to be able to tap into that at any moment, whether it's on stage or whether it's at the house or riding the car, it's divine. If you sing in front of one person as you would a thousand, then if you ever sing in front of a thousand you'll sing to them as if they're one and we've always approached music that way and gave it our all no matter where we're at or if we're in the living room or because to us music is worship. These hills and hollers have always been riddled with talent and it's becoming more and more obvious just how much talent is really here. Just this area is so rich. The roots of music here run extremely deep and I think it will remain for eternity how important music is to this area. It will always be important that it never goes away, especially thanks to people like yourself and places like the Mountain Arts Center that celebrate it. It's just been nice to see, I think musicians realize their worth and realize their potential and I like to think that we've sort of helped usher that sort of belief into people because before us it was just like it's a lot of you have to be on the radio or nothing at all and I think we've kind of helped break some barriers down for people.


you know, emotionally healthy people don't rage, run or retaliate when they're met with your boundaries. They simply respect them. So if people are raging and retaliating against your boundaries at the moment, it is about their emotional immaturity rather than it is about your boundaries. Don't change a thing.


Na, Silvia! that's easier. And then the sun comes out in the theater. See, I wouldn't know. I wouldn't know because I hadn't seen it. It was magical! I haven't experienced it. I'm sorry because, I mean- I didn't know it changed your life, like some life altering drugs. It made me into a theatrical person. Why is K-pop so popular? But then the K-pop musical shut down in two weeks. How come nobody liked it? We gotta talk about this is big news, because there was a groundbreaking K-pop musical that released on Broadway. Just after two weeks of opening it shut down because it couldn't sell tickets and honestly it wasn't making money In fact, it was losing money So we got to talk about it because kpop is this global phenomenon as a genre everybody loves it, right? However, it did horrible on Broadway. Yeah, I think there is a lot of micro takeaways a lot of macro takeaways That would be useful for anybody trying to transfer over an Asia product to the US market specifically a niche like Broadway But first off Andrew we got to run a clip of the show because Andrew a lot of New York Times La times they're all wondering why it shut down so quick, but we got a show a clip to even just get a sense of what it was All right, so I mean that was pretty much it David right off the bat the dance numbers look good I think the seniors good to have Luna who was a real kpop artist, you know, so the singing is legit So it's not like uh, like pre-recorded, right, right, right. This is pretty tight to me. I mean obviously it is in Korean I'm not a 45 year old white lady from Wisconsin making my you know by annual trip with my sisters to Broadway, but I mean immediately just watching the clip. I'm like, yeah, that's cool And you know, that's probably what they were thinking They probably were thinking that somebody like myself or somebody, you know Even in this range would like go and see their first Broadway show But that honestly from what I heard super did not happen. Yeah I mean, I think that there's so many reasons why it didn't work and It was like really a bad fit I think it was a bad fit not that it was a bad show because I didn't go watch the show and I heard some good things about it However, if you just think about the crossover of people who are into kpop or want to sit through a two-hour kpop Concert essentially and the people who go to Broadway shows the Venn diagram is very small The crossover is very small of that. Hold on. Are you saying that someone who loves the Lion King the book of Mormon? Whatever other Broadway shows there are would go to go to a list of Broadway shows because I can't because I can't name that many You know what probably would have been a better idea And I don't know if they could have had access to this IP is to make it a JYP or like BTS musical and then Broadly about kpop you're taking out all the stars the brand names. It's about like no names that are in the industry So anyways, there's a bunch of reasons but Yeah, it's people just were not interested by this story But there was a 2017 version of this that was off Broadway that would didn't make it to the big Broadway theater yet That got some good reviews. That was more immersive. Yeah I mean, I think that's the nature with a lot of things like some things They just work better as an underground thing than a overground like commercial radio hit It's almost like, you know, this is like an older reference, but like Talib Kweli He never worked as a radio artist, but he was huge as an underground rapper Yeah, and what are some of the other Broadway shows that they're even showing right now because honestly These are the other Broadway shows that they're like competing with because basically Okay, and Juliet Romeo and Juliet Moulin Rouge, okay That's from like France and that was written in like what 1680 the Phantom of the Opera and when was that written the 1700s the Lion King I Don't know when that story is from maybe 500 years. It's been in there for like years on Broadway Beetlejuice actually just got canceled. I believe K-pop is now Canceled Chicago, of course Aladdin MJ Michael Jackson King of pop Right, so I mean I would say most of these shows look white or based off something European or from Europe I mean, let's be real Broadway is pretty white theater is pretty white So I think that the creators were like, hey I grew up loving Broadway and I'm Korean and I can write about this K-pop show, you know And I want to share that love and I'm not saying that's wrong. That's not wrong However, I don't think everybody else shares that love like the average K-pop fan is 15 to 20 years old that they don't go to Broadway Well, they're not gonna make the trip to New York City to Manhattan expensive Uber ride. I mean where they even coming from I'm assuming new Parents don't even want them to go to New York City right now think about it Like we're of the demographic that theoretically should have gone to the show and I had heard about it I know a few people who went but ultimately yeah, and I heard there was a whole bunch of drama around it So I believe one of the creators of the show kind of blamed Asians for like not feeling comfortable in the theater Environment are not wanting to pay those prices And then they are also the cast accused the New York Times reviewer of being racist But because he gave him a negative review even though he did give the off-Broadway one a positive review So it's tough to say in my opinion that it's racist if he gave the Asian driven off-Broadway one a positive review And then this one a negative review. All right, David I think we talked a lot about it from a technical standpoint and we're again We're not experts on k-pop or Broadway. We don't know this show. We didn't see the show That's why I'm not talking about this. I can't break down the flow of the lion king though Andrew So technically Andrew you have a lot more experience in this world than me the lion king Dave there's a reason why it's running for like it's 25th year on Broadway or something like that, okay It is a great show. I just can't wait to be king I just I really like that monologue that opening song from rent that 265 to a thousand Worse dude, I'll tell you this in the in the Lion King man. That's just stuff will make you cry man when she starts out No Yeah, and then the Sun comes out in the theater see I wouldn't know I wouldn't know because I had to have an experience I'm sorry because I didn't know it changed your life like some life altering drugs. It made me into a theatrical person But David what what are like the things people can take away because because I think this is a a good lesson in Fit because k-pop Everybody loved k-pop when you go to a k-pop concert in LA does everybody love I'll say this No, no, no, not everybody not of all ages. Sorry, but what all there's fans of all types of people when you go to a k-pop concert There's like a lot of Latino black white and Asian right right, but I wouldn't necessarily say they're like the mainstream either It's not the same crowd that loves NBA young boy BTS really broke through but anyways David. Well, what can people take away from it? I think number one These are the macro takeaways that anybody who's trying to move a like foreign cultural product into the u.s Can take away number one Andrew I think that Asian American audiences are still struggling with the in-person performance in terms of something modern like Broadway stand-up comedy mute Andrew. You've been doing a lot more stand-up around New York Yeah, a lot of non Asians will randomly pop into a show They don't even know it's Asian night and they're slated to see like 20 Asian comics in a row But they just do it because them and their friends love seeing stand-up just on a random Asians watch stand-up in particular the white people do Asians do that No Asians do not watch stand-up comedy that much the only time I see a lot of Asians are out when we go to the Ronnie Chang show or the Ali Wong show these big names that are The Russell Peter exactly but that's when you see the Asians come out before the regular show of just like amateur Comedians they not coming out. Anyways, what's the next reason and I think that that's what the creator of K-pop The musical was kind of blaming it on saying that like I know Asians are scared of the theater I know they don't feel welcome. They don't feel like it's their space like the narrative supports them But they needed to come out. I was like, what do you mean? We needed to come out, dude I don't think that it's very difficult to alter their behavior like Asians will go out to see a real K-pop show They do not want to see necessarily a Broadway show about the K-pop industry. Yeah, I mean You know, I I'll just say this like I I don't know about Asians being scared of the theater But the theater and the whole theater culture and Broadway in general is very very white. It's it is it is not in a bad way Even Hamilton, which is like a super hip-hop show Relatively to the hip-hop show and everybody there's a lot of people rapping and a lot of the cast is black and brown Even though the rap's like it They're flowing though, but yeah, even then a lot of the audience is probably going to be More Caucasian um you need things in English I think that anybody who is coming to the US as a foreign cultural product needs to speak Anywhere from 80 to 90 percent English It doesn't mean that large Functional portions of the storyline are not in another language words phrases. You know what I mean names but you can't just be like speaking in another language because Andrew people in America don't even support British comedians that with strong accents You better sound like Ricky Gervais at the most because Ricky Gervais actually I'd say his British accent is very understandable to Americans But literally if you come from like Liverpool you come from a Scotland Birmingham Scotland American audiences that are white might even have the ancestors from Scotland. They'll not gonna like it. That was a terrible But yeah, you know what I mean because America is just a country where it's like it's just English centric Yeah, moving on Andrew. You cannot have a product on display that is so close to the original Product so it can't be like a k-pop concert for k-pop fans when they could just pay that equal amount of money And maybe see an actual k-pop concert Yeah, that's true because you because now you're competing and now to be honest the k-pop performers in this musical are Not a tier k-pop artists because they're not k-pop artists They are actors and singers who are talented, but they're not the k-pop artists Well, it's probably to be honest Maybe a lot of people who had k-pop dreams, but they didn't want to move to Korea Maybe they went through the farming system and they got weeded out correction Luna Who is a k-pop artist is in the show, but she's like the main one You can't have a product that's so close to the original and I would compare it to the Korean corn dogs Those are like very Magnificently different from an American David Is that like opening up a Korean fried chicken spot in between a KFC and a Popeyes? You'd think in the south you'd say an opening up in national and you think that'd be a good idea because you're like Oh, everybody loves fried chicken in this plaza. That's great. But now it's like it's too close to the thing You want to put it somewhere else. I wouldn't serve expensive Korean corn dogs at the state fair That's like was established in like 1862 everybody's like man I'm waiting for them. Wait, so you're saying American corn dogs like oh, what's this thing with the fries on it David You're saying that the Korean corn dogs aren't really gonna make a an appearance at the Coney Island Hot dog eating festival next year I think location matters a lot because America is so hyper diverse and for example Andrew Mr. Pizza is a Korean pizza chain that does super wacky pizzas. They're very expensive They got like sweet potato crust with the hot dog. They are good. They're good They're delicious. They're expensive pizzas by the way, but they're weird. It's like $65 for a pizza They shut down Almost like 90% of their locations in LA in New York. Yeah, and I think they only exist in like Korean Yeah, first of all, we ate at the Mr. Pizza in Little Tokyo when it opened it in LA We went there for sure. I also want to say as far as the musical goes I feel like the musical Maybe might do better on the West Coast like in LA when we're more of California is familiar with Korean culture and K-pop in general, but then why wouldn't they just go watch the copious amounts of actual K-pop concerts that are there I'm not I'm just saying I think it would do better, but I'm not saying it would still stick around for years Yeah, I mean I saw this reddit comment They just went on a huge rant about like the East Coast in New York City not supporting like AZN like things directly from Asia. I do think they require more tweaking for the East Coast I do think the East Coast, you know, New York is the capital of America They always say LA is the entertainment capital of the world, but New York is the entertainment capital of America more like, you know Anglo-New World. Yeah, I mean theater is such a different art form. It's a very like I don't know. I mean, I think a lot of Young millennials to be honest I mean, I know people who go to Broadway shows I'm the Book of Mormon and you know the big shows I've been to a couple but like it's not the main thing that we go to get like you have Tiktok now you have YouTube you have Netflix you have You have EDM concerts you have K-pop Asians are giving all their money to Zed every time he comes and you have Brooklyn Mirage. You got the thing But last but not least Andrew my final takeaway and this is for anybody who's doing it and this is where I gotta give huge kudos To Helen Park the other people who threw this concert I don't want anybody to think that that you know We were like dissing this thing because obviously I didn't even see it But I think it was great because at the end of the day people still need to take the gamble and Potentially even lose a bunch of money because this is what progress takes Literally, yeah, if people never fail. It's a good. How can you fail forward? It's a good point because I think like we are in this video. We're literally talking about what we can learn from this Again, we didn't watch the show. I'm sure it's great Maybe it's not amazing But and it's not to say that they can't bring this show maybe to another platform off Broadway again They can start traveling with it, you know move this bus move this move that move they can still you know Do good with it, but it's like just because this experiment is over and it kind of like blew up or whatever It doesn't mean that they are not gonna be instrumental Even in maybe if they're part of the second project that does break through. Yeah, I'm sure maybe there's like an Asian play right now I don't know if it's Miss Saigon that I don't know if that really counts as Asian But anyways, there's like Asian characterized plays. I'm sure right now that are looking at this and being like, okay Well, well, what are we gonna do differently? Can we learn anything from this? What do you think about the argument that this was such a monumental play because it didn't have to do with a white savior Miss Saigon Butterfly. I think the king and I you could argue. I mean The Thai king, you know what I mean, so I think again Again like like, you know how Korean material does amazing on Netflix Netflix is a global platform. That's affordable for everybody, right? But it doesn't do k-pop apparently does not do well on Broadway, which has high barriers to entry You have to be in New York. You have to pay what 50 60 70 dollars for a ticket You have to be in there for two and a half. I mean, by the way hip-hop in general doesn't really perform on Broadway either until Hamilton Yeah, that's why Hamilton was considered groundbreaking because it's a mixture. They had brought like yeah But it again is not just like a full-on hip-hop show. No, it's not I got a rap cypher Yeah, I mean maybe Wu Tang the musical but actually even then I think the crossover is actually getting smaller and smaller So anyways, but we flew here from Wisconsin and me and my sister said we were watching the first thing We could get tickets to and it's the real RCA Gza So my point was that on Netflix it does really well because I think Netflix is not super white centric Like the content like you go to Netflix. Oh, that's not white Yeah, that's literally why you go to Netflix because it has all this other content That is also cool that has different languages the heist. It's all in Spanish and then there's this squid Narko's Narko's was in Spain. I like there's I watch all these shows in different languages French comedians all this everything so I'm saying That's why it's thriving on Netflix But but for those for the same reason it's not thriving on Broadway because Broadway is just like the demographic of people Who walk through those doors are who they are you can't change it? It's very hard to change Yeah, I mean it'd be tough to open up like a Korean street food Place serving like kimchi fried rice and like hotteok in like Connecticut like red and witch Connecticut I mean listen, we're Asian. We want to support Asian things, but even me I could not break my regular frame to go to that show Maybe if someone had brought me and like paid for my ticket I would definitely go but it's just not something that I'm like even pushing myself to do so I have to admit that right? Yeah, but anyway, like we said man kudos I do think there's a lot of implications for a lot of things, but yeah, obviously I hope that you know We can break through but Progress is not like a linear or exponential thing There's obviously a lot of plateaus and false starts and you need to try twice to break through So let us know what you guys think in the comment section below Why did the k-pop Broadway musical fail but k-pop as a format itself as strong as it's ever been and what can we learn? You know about other art forms that require in-person, you know attendance such as Asian stand-up comedy Yeah, please watch more Asian stand-up comedy It has been doing more stand-up watching stuff. Please watch please go to the Asian Amateur shows. Ah, alright everybody Thank you so much for watching. We are the hot-pot boys until next time we out peace