Return to Transcripts main page
Quest Means Business
Trump Campaign Chairman Resigns; Trump: Sometime I Say "The Wrong Thing"; Clinton Foundation to Limit Donations; Lochte Apologizes Over Gas Station Incident; Controversial U.S. Swimmers Return from Rio; Lochte Sponsors Monitoring Rio Controversy; Viacom CEO to Quit as Saga Draws to Conclusion; IEX Started Operating Friday; IEX is Taking on NYSE and NASDAQ; CDC Issues Zika Warning Over Miami Travel; Bolt to Race for Triple-Triple; General Electric Continues Olympic Connection; Collectors Look for Brexit Bargains; Malat: Fall in Pound has Boosted Art Market; London Underground Begins 24 Hour Service. Aired 4-5p ET
Aired August 19, 2016 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:00] MAGGIE LAKE, CNN ANCHOR: These guys are used to the sound of bells ringing. Came the big show and The Miz from WWE are ringing the
closing bell on Wall Street. Looks like stocks are out for the count. It's Friday, August 19th.
Donald Trump has regrets. The Republican presidential nominee changes his tone as another campaign chief calls it quits.
Ryan Lochte has regrets and he could have more if sponsors drop him.
And after a night of things they might regret later, Londoners have a new way to get home. I'm Maggie Lake. This is QUEST MEANS BUSINESS.
Good evening. Tonight another major staffing change for Donald Trump's presidential campaign less than three months before America heads to the
polls. Campaign chairman Paul Manafort has resigned. The move comes just days after Manafort was sidelined in a staff shake-up. Manafort has also
been on the defensive amid concerns about his extensive lobbying in Ukraine.
In recent days we've seen Trump's tone shift more in the direction of a traditional candidate. Trump admitted that at times he said the wrong
things and expressed regret. On Friday the candidate traveled to Louisiana to tour areas that have been ravaged by flooding. CNN's political senior
digital correspondent, Chris Moody, joins us live from Washington. Chris, is this really a new Donald Trump we're seeing once again?
CHRIS MOODY, CNN POLITICS SENIOR DIGITAL CORRESPONDENT: Maggie, throughout this entire campaign we've been told that there's going to be a pivot here,
a pivot there. He's going to shed his old ways and move forward and be a new candidate that can appeal to a general election audience, to all of
Americans, the Democrats, independents. And then he gives one speech and it's really good. And he reads Teleprompter. And then the next day he
says something that blows all of that up.
We saw it after the convention when he said they'll be a pivot. We saw it after the primaries. Now her hearing it again. We did hear his speech
last night where he said for the first time really, this campaign, that he essentially apologized to people who he may have hurt along the way. That
was something we really had never heard before. The question is can he stay on message, can he stay on task for another week, not just another
week, but for 80 more days. That's something that a lot of pundits, a lot of reporters, and the Clinton campaign are pretty skeptical that he'll be
able to do.
LAKE: Right, which is why I asked, is it the new Donald Trump once again? Because we feel like we have been here before. But he does have new people
who are helping run the campaign. But this is interesting, because it's kind of like a two-headed beast. Isn't it? On the one hand you have the
sort of moderate voice of getting him back on message while letting him be authentic, Conway. But then you have Bannon, who to some is sort of, you
know, going to promote that outrageous Donald Trump. Can they coexist in an effective way?
MOODY: That's a great question. I think what was clear was that Manafort might have been really good as getting down to the nitty-gritty campaign
stuff that need to happen during the primaries to make sure that he won that primary and became the nominee. To do all the strong arming that was
required on the floor of the convention in Cleveland, but not necessarily fit for the general election, especially given all the distractions, as
it's been called, with his lobbying work for pro-Putin forces in Ukraine. That was something that a lot of reporters were honing in on. The last
thing you want is for your aide to be the story and not your message as the candidate to be the story going forward.
Now with something that's very interesting about Bannon, this new person that is joining the campaign. He is the head of this website called
breitbart.com, which some might call it a conservative website. It's more of a nationalist/populist website that has been promoting Donald Trump the
entire time. He does point to signs that they will be embracing this message of populism. And we also saw it in the latest ad that Donald Trump
ran that focused on immigration and keeping America safe. The question really is can Donald Trump focus on those issues instead of maybe saying
something that will overshadow the news cycle that everyone focuses on. And not only overshadow the news cycle but some of the controversies of his
Democratic opponent, Hillary Clinton.
LAKE: It seems the one area where he might get away with being outrageous is when it comes to attacking Clinton. This is going to get ugly fast,
isn't it, Chris.
MOODY: You better believe it will. But the risk is overreaching in attacking Hillary Clinton. This is something that conservatives have done
for a long time. There are legitimate issues with Hillary Clinton and her past that need to be discussed and pointed out. But oftentimes there is an
overreach, where some have called it the Clinton derangement syndrome. But often times in this campaign Donald Trump has shifted the focus away from
her.
[16:05:00] Sometimes he just needs to maybe take a step back and let her be the focus. But he seems kind of incapable of doing that. He always wants
the media attention even if it is not good for him in the end. When it comes to a lot of these issues regarding the emails or Clinton foundation,
at some point you have to sit back and let that play out and attack here and there instead of always being out front and center. Because that
exposes yourself, as has happened with Donald Trump throughout the campaign.
LAKE: That's right, and he does have a lot of ground to make up with. A lot of different groups --
MOODY: A lot of ground.
LAKE: -- a grounds organization that some people feel is still lacking. Chris, will talking about that next week. We'll see how he does over the
weekend and circle back with you. Thank you so much.
MOODY: Thank you.
LAKE: If Hillary Clinton becomes president, the Clinton Foundation says it will restrict the type of donations it receives. The foundation says if
Hillary wins it will no longer accept foreign donations or corporate funding. The Clintons have faced criticism over foreign donations to her
husband's charity while she was Secretary of State. Joe Johns has more.
(BEGIN VIDEOTAPE)
JOE JOHNS, CNN SENIOR WASHINGTON CORRESPONDENT (voice-over): Former president Bill Clinton trying to avoid the appearance of conflicts before
his wife's presidential campaign hits the home stretch. Announcing he will resign from the board of the Clinton Foundation if the former Secretary of
State wins in November. He has already stopped giving paid speeches and his spokesman says he'll keep it that way if she's elected. And the
foundation announcing it will no longer accept corporate or foreign donations. The Clintons have amassed a whopping $155 million combined from
paid speeches since leaving the White House in 2001.
DONALD TRUMP, U.S. REPUBLICAN PRESIDENTIAL CANDIDATE: The book "Clinton Cash" by Peter Schweizer, documents how Bill and Hillary used the State
Department to enrich their family at Americans' expense. She gets rich making you poor.
JOHNS: The foundation has come under scrutiny for its close contact with the State Department while Hillary Clinton was secretary. The Clinton
campaign flatly denies any pay-to-play allegations. In fact, the candidate has defended the foundation's work.
HILLARY CLINTON, U.S. DEMOCRATIC PRESIDENTIAL CANDIDATE: We have so much that we're proud of. And I will put that up against any of the innuendo
and accusation coming from Donald Trump.
JOHNS: But Republicans jumped on the new announcements. The RNC releasing a statement saying, "If everything was above board while Hillary Clinton
ran the State Department as the Clintons have said, then why change a thing?" Clinton today trying to steal Donald Trump's spotlight, who is
visiting Louisiana, after calling the governor there. Clinton taking to Facebook to plead for help for the flooding victims, writing, "My heart
breaks for Louisiana, and right now the relief effort can't afford any distractions."
All this as new details are emerging on Mrs. Clinton's controversial email server, "The New York Times" reporting that she told the FBI it was Colin
Powell, her predecessor at the State Department, who advised her to use personal email. The "Times" sites an excerpt from Joe Conason new book
about Bill Clinton, says that at a 2009 dinner party, hosted by former Secretary of State, Madeleine Albright, Powell recommended Clinton use her
own email as he had done, except for classified communications, which he sent and received via state department computer.
Today, Powell's office responding in a statement that he had no recollection of such a conversation, but did write Clinton a memo regarding
his use of a personal AOL account, saying, "At the time there was no equivalent system within the department. He used a secure estate computer
on his desk to manage classified information."
(END VIDEOTAPE)
LAKE: It started as a late night ruckus at a gas station. Then it became an international incident. Now Olympic swimmer Ryan Lochte has apologized
for not being candid about what really happened. Police in Rio say Lochte's story about being robbed at gunpoint on Sunday was a lie. They
say it was Lochte and his teammates vandalizing a gas station that triggered the trouble. One of them will pay almost $11,000 to charity
before leaving Brazil.
Lochte, who is already home now, "I should have been much more responsible in how I handled myself and for that am sorry to my teammates, my fans, my
fellow competitors, my sponsors, and the hosts of this great event." What the apology doesn't clear up is the original claim that he was robbed.
CNN's Nick Paton Walsh is in Rio. So Nick, it does look like this unfortunate incident is starting to wrap up. But do we really know what
transpired? There was a gun at the scene but everybody seems to have a slightly different story.
NICK PATON WALSH, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well in short, yes, we know there was urinating behind a place there is a building in that
gas station. It was near the toilet. They didn't use the toilet. We don't know why that happened. We know a poster was probably torn off the
wall. And then, yes, we get into this confusing scene where Brazilian police say there may have been firearms drawn, but money was handed over
voluntarily as compensation by the swimmers to the security guards there for the damage they had done. The U.S. OC says something similar and
refers to firearms being on them.
[16:10:00] Lochte, now talks in his statement, probably the most interesting line in it, "It's traumatic to be out late with your friends in
a foreign country with a language barrier and have a stranger point a gun at you and demand money to let you leave." That seems sort of suggesting,
well I still think I was robbed with people with weapons, but slightly going back away from the idea that it was men dressed as police. They held
a gun to his forehead and demanded money, as the original story said. Frankly, the fact that it's taken him for five days for him to put this
statement out that begins with the fact he should have been more careful and candid in how he described the incident and begins to detract
credibility from what we've been hearing from him. And I have to say sadly now, you know, there are no winners from this.
Mr. Lochte's reputation is taking a severe pounding in the U.S. media and here. Brazil has had a focus on its petty crime program, which often
actually is extraordinarily serious. Lives are lost because of petty theft here. And that's also why Brazilians are taking quite an affront to the
idea that Mr. Lochte, as his accusers suggest used armed robbery to embellish his alibi. That basically they turned up. They were drunk.
They messed around. Were pretty vulgar and then when trying to pay their way out of it, the next morning sort of made the story sound slightly more
in their favor.
At the end of the day we are now looking at one U.S. swimmer is possibly still here, Jimmy Feigen. The other lot are back all in the USA now. Mr.
Feigen paid $11,000 as part of a settlement really, in court with his lawyers and a judge. A good news story in all of this, that money is going
to a training center, a judo training center run by a charity where the real idols from these Olympic Games found some of their training. Rafaela
Silva, a Brazilian judo gold medalist here, idolized in the Brazilian media. Someone who works hard all their life to put themselves in that
position. It turns out there may be more success stories from that same gym, because of this, frankly, ridiculous 10, 15 minutes' worth of ill
behavior by these four swimmers
LAKE: And Nick, thank you for ending the week with the bright spot, and silver lining of something we have had to spend an awful lot of time
talking about and not enough of some of the unsung heroes at these Olympic Games. Nick Paton Walsh, for us, thank you.
Now Lochte's sponsors are trying to make sense of this as we all are. Today Polo Ralph Lauren says it's reviewing the situation and will work
with the U.S. Olympic Committee. Speedo says it is also following the story. How could it not? It was on the front pages of some tabloids. And
in the past few minutes, the mattress maker Airweave says, while it does not allow unlawful behavior, it will keep Lochte as an ambassador.
CNN sports analyst Christine Brennan is in Rio. Christine, thanks for joining us. Do you think this will have a lasting negative effect on Ryan
Lochte? It's been such a mess, and clearly some grave mistakes were made. How do you think this will all be remembered?
CHRISTINE BRENNAN, CNN SPORTS ANALYST: Maggie, I think it's going to have a lasting impact on Ryan Lochte, and it's not going to be good. First of
all, he's 32 years old and he's certainly on the back end of his swimming career anyway. I just can't imagine any of these sponsors re-upping, if
they decide to stay with him. As you mentioned, one has. The other two monitoring the situation. When one says that they're working with the U.S.
Olympic Committee.
The U.S. Olympic Committee, I've been reporting, is going to eventually suspend him and the other three. It may well be the U.S. Olympic Committee
working in concert with USA Swimming, which is the national governing body for the sport. Bottom line is, if you're working in concert with those two
organizations, they're going to suspend Ryan Lochte for some period of time, maybe indefinitely. They're going to suspend the other three
swimmers. So that doesn't sound good. It sounds like they may well take their cue from the USOC. And when the USOC suspend them, maybe that's when
they will exit that relationship.
LAKE: Yes, Christine, what about the others? Their younger aren't they? Can they bounce back from this? The golden boy at the Olympics, Michael
Phelps, has had his struggles. He's apologized. He's owned them. And he has been able to come back. We have seen this before. Do you think they
can repair the situation?
BRENNAN: That's a great point, great question. Absolutely. They're very young. Let's say they're suspended for six months or a year. If they're
going for the 2020 Olympics, that means they would have another three years or so to get ready. And I think everyone will be rooting for them to make
amends. Especially if they continue -- start actually -- to do the right thing. Obviously Feigen with the $11,000 contribution here, the others I
would imagine would eventually do that. The apologies that are certain to come, and I think Ryan Lochte's apology was part apology, part explanation.
It was not like the Michael Phelps apologies we've seen which were sort and succinct. I think Lochte needs a better apology writer. But if these
other three, as we're calling them, the other three, if they do all the right things and serve whatever ban they get.
[16:15:00] I think they will be welcomed back in USA Swimming, and I think they should. Because a big mistake, huge mistake and a big PR nightmare
for the U.S. Olympic Committee, but at the end of the day they certainly deserve to have another shot provided they show how serious they are about
making amends.
LAKE: Yes, and Christine, I don't mean to downplay the incident at all, but you've covered so many Olympics. These are highly competitive, highly
strung athletes who have just had the thing they've been training for, you can imagine they've been let loose. I can only think of what has
transpired over the years in Olympic Villages and in local cities. Why do you think this -- and we've heard rumors, I'm not going to repeat them, but
why did this rose to the international level it did? Is it because of the security concerns that were behind the scenes and so prevalent in the lead-
up to Rio?
BRENNAN: Maggie, it rose to this level because Ryan Lochte talked about it. Which is just unbelieve to me. As you look back over these five or
six crazy days, if Ryan Lochte's mother doesn't say something and if Ryan Lochte doesn't say something, we would never have heard of it. Just an
unbelievable unforced error by the Lochte family to even bring this up.
Why did they do that? If they didn't do it, to your great point, then this would have just gone on and we never would have known. And yes, the
athletes have every right to celebrate after their Olympic competition. There's dozens, probably, outside the window right now doing that. But the
difference is, first of all, obviously the drunkenness and the misbehavior, but no one would have known had Ryan Lochte not kept it -- not opened his
mouth. That is a good question that I promise to ask Ryan someday.
LAKE: I bet you will. And listen, a learning lesson for everyone. I'm sure there are enthusiastic Olympians that are tamping it down a little bit
in the wake of that. Christine, it's been great to talk to you throughout the games. Enjoy the very last weekend. Thanks so much.
And later this hour we'll return to Rio where Usain Bolt is just one race away from capturing the coveted triple-triple.
Now, an elderly billionaire, his powerful daughter, and a boardroom drama with billions at stake. The saga at Viacom seems to be heading for a
finale. We'll explain next.
(COMMERCIAL BREAK)
LAKE: The saga of who takes control of Viacom, the company behind channels like MTV and Nickelodeon, may final be over. The CEO, Philippe Daumen, is
stepping down after talks with chairman emeritus, Sumner Redstone. These two could not agree on who would lead the company. Although things were
complicated from the start. Redstone is 93 years old and there have been questions over his health and ability to make decisions. On top of that
all, there was his daughter, Shari, Viacom's vice chair. She helped get two of Redstone's girlfriends removed from her father's will and has been
accused of trying to manipulate him to doing what she wants with his empire.
[16:20:00] CNNMoney, Brian Stelter, joins me now. Brian, this has captivated people not only because this is a giant of the media world, but
it's played out like some sort of -- somebody said, the "Bold and the Beautiful", "Knot's Landing", "Dallas" all rolled into one. It's been
extraordinary.
BRIAN STELTER, CNNMONEY SENIOR MEDIA CORRESPONDENT: A Viacom-style reality show. It is all over except for the signing of the contracts. We expected
an announcement from Viacom today. Now the markets are closed. It looks like it's not going to be tonight. Maybe it will take until money. This
is really just all about the lawyers at this point working out the final details. But Billy Daumen is leaving. He is Tom Dooley is the COO. Will
become the interim CEO. Will see if he can hold onto that job permanently or if someone else comes in. Bottom line, the big winners here are the
Redstones.
LAKE: Did it solve the question of whether he's mentally competent at this point? Because that's always been in the background here. People thinking
that Shari is controlling him and he doesn't really have the capacity to make decisions. Did that factor into any of this? Is this also saying,
that yes, he is?
STELTER: Because no court has found him to be incompetent. He is for lack of a better definition, competent.
LAKE: But they weren't forced to prove -- this sort of shielded them from having to go through the public exhibition.
STELTER: Yes, that's probably one of the most important details of this story. The fact that now the lawsuits will be resolved. Now Sumner won't
have to show up in court. Doctors won't be called in. Psychiatrists won't be called in. That's what a lot of this has been about. Sumner has been
described as a living ghost, as very frail, almost unable to speak. The descriptions have been quite sad. And yet he is, by all accounts, still
able to understand what's going on. So that has been an issue for many months. This has gone on for the better part of a year. And now, of
course, we're coming up on the end of the third quarter for this company, this beleaguered company. We'll see if Dooley can do any better than his
predecessors and try to turn this company around.
LAKE: And what do they need to do? What is the feeling of what's need aside from some clarity about the future and who is running it, what do
they need to do to get back to any semblance of the past, I suppose?
STELTER: I don't think I have a great answer to that question and I'm not sure they do either.
LAKE: It's such a changing landscape, by the way, complicated enough, but then put it against the changes going on.
STELTER: These are old line TV executives desperately trying to reorient for a much more digitally oriented world. Some activist investors say, go
higher big-name talent. Try to woo back the John Stewart's who have left channels like Comedy Central and MTV. But that's not really the answer to
the underlying problems. The underlining answer is that the ground is shifting dramatically beneath Viacom's feet. Viacom might be in the worst
position compared to other media companies, but the same challenges is faced by Disney and Time Warner and others. Viacom, though is in uniquely
difficult position, because it appeals mostly to young people with its cable channels. And those are the ones that are finding alternatives like
Netflix and Snapchat all the time.
Yes, we'll see if they can -- I guess in addition to big top talent, see if they could get a hotshot manager in there to see if they can right the
ship. Brian, thanks --
STELTER: That may not be the solution either.
LAKE: Yes, but certainly they've got to try something. At least the legal stuff is out of the way for the time being.
STELTER: That's right.
LAKE: Brian Stelter, thanks so much.
STELTER: Thanks.
LAKE: U.S. markets closed lower Friday, the Dow lost 46 points as investors worried about whether the Federal Reserve would raise interest
rates as early as September. We heard some hawkish comments coming out of Fed officials. That was the picture from the New York stock exchange. Now
it has some new competition from an upstart all day IEX. It aims to take the advantage away from advantages of high speed traders. It's a new
exchange. It began operating as a national security exchange on Friday. Cristina Alesci sat down with the man behind it.
(BEGIN VIDEOTAPE)
CRISTINA ALESCI, CNN CORRESPONDENT (voice-over): Meet Brad Katsuyama. His business is based on convincing you there's something majorly wrong with
the stock market. The heart of American capitalism. He's one of the stars of a Michael Lewis book "Flash Boys" about that very topic. "60 minutes"
did a feature on him. He had intense live debates on CNBC.
UNIDENTIFIED COMMENTATOR: It's a yes or no question. Do you believe it or not?
BRAD KATSUYAMA, CEO, IEX GROUP: I believe the markets are right. And I also think that you're a part of the rigging. If you want to do this let's
do this.
UNIDENTIFIED COMMENTATOR: I really do.
KATSUYAMA: You know, I had never been on TV until "60 minutes." it's changed my life in both good and bad ways, I guess. But 98 percent of it
has been positive, a huge amount of support. I tried to lead a relatively low key life. Having people, you know, hate you is an interesting
byproduct.
ALESCI: Now two years after being in the spotlight, his company, IEX, is officially taking on the big players, the New York Stock Exchange and
NASDAQ. It got SEC approval to become a national securities exchange and tickers will start trade publicly on August 19th. Why? Because Katsuyama
says certain traders in the stock market have an unfair advantage. They have technology that allows them to see prices before everyone else.
[16:25:00] And then the computers they use to trade can act on that data. He says the existing exchanges have a conflict of interest, because they
sell products that let these investors conduct faster trades.
KATSUYAMA: The reason we started IEX is because the exchanges themselves are the enablers of what's happening. The exchange is like the referee.
And the buyers and the sellers are like the two teams that are playing. The referee should have no bias on whether one team wins over another.
They really shouldn't. But in the market, the exchange as the referee is selling an advantage, that they know a certain group of people can utilize
versus another. In many ways the referee is biased in the outcome. It hurts the integrity of the game.
ALESCI (on camera): That's only if the high speed trader is using your platform.
KATSUYAMA: That's right. They don't have to. They don't have to if they don't want to.
ALESCI: they can go to the New York Stock Exchange and get a proprietary feed.
KATSUYAMA: And I think one of the big push is to approve IEX was to say that, you know, our model depends on people choosing to use our platform.
that our model depends on people choosing to use our platform.
ALESCI: Can Wall Street, do you think, regain the public trust?
KATSUYAMA: I think Wall Street will eventually regain the public's trust. Wall Street -- it's an essential function to the economy. It can't be
automated in many ways. A lot of times we come in here and think what we're fighting for is more than just a stock exchange. I think what we're
fighting for is a much broader story. It is about regaining trust. It's about more transparent markets. In many ways it's trying to do the right
thing.
(END VIDEOTAPE)
LAKE: Well, the competition isn't too happy about this new exchange. In a letter to the Securities and Exchange Commission back in November, the New
York Stock Exchange said IEX would be an unfair, complex, and opaque exchange.
Pregnant women are being told to reconsider if they are traveling to Miami. Five locally transmitted cases of the Zika virus have been discovered in
Miami Beach, one of the biggest tourist destinations in the United States. Now the Centers for Disease Control says pregnant women and their partners
should consider postponing any nonessential travel in the entire Miami-Dade area. Joining me now is the CDC's director, Tom Frieden. Tom, thank you
for being with us. How worried are you about this development?
TOM FRIEDEN, DIRECTOR, U.S. CENTERS FOR DISEASE CONTROL: We have now two specific neighborhoods in Miami-Dade, one around Wynnewood, one in Miami
Beach, where there's confirmed transmission of Zika. We advise pregnant women not to travel to those areas. Pregnant women living in those areas
should do everything possible to avoid mosquito bites. For the rest of Miami Dade, there have multiple other instances of isolated cases of
mosquito spread of Zika. We're providing that informs so people can make informed decisions. And pregnant women and their sexual partners may
decide not to travel to the rest of Miami Dade. But the key is those two areas where intensive control managers are underway.
LAKE: And I want to be really clear on this because I know a lot of our viewers are watching, this is still high holiday time. What about women
who are of childbearing years but may not be pregnant right now?
FRIEDEN: If women are not pregnant, the question is, are you planning to become pregnant? Are you doing things to avoid becoming pregnant? And if
women go to one of these two areas and then try to become pregnant, we advise waiting at least two months after to begin to try to conceive. That
provides a margin of safety to make sure that if there is an asymptomatic buyers infection, it's not still around. For men who travel to areas where
Zika is spreading, whether here or anywhere else in the world, we recommend waiting for two months if the man doesn't have symptoms and six months if
he has symptoms of Zika.
LAKE: Where does this fall in terms of your concern on the spread of this? We watched what happened in Brazil. I got the impression talking to people
in Florida that they felt they had learned from that experience. They were so aggressive in the limited area when it had turned up. Feeling like they
could get on top of it and get it under control. Yet we see that it is spreading. Certainly not rapidly and certainly not many people, but it is
spreading. Can this be controlled and contained?
FRIEDEN: Well, I think we really have to define what's happening. It's not that it's spreading from one area to another. It's popping up in
different areas. Because the mosquito is present, and people are present, and travelers back and forth to Zika-infected areas are present.
[16:30:04] In the Wynnewood area, that six-block area, where there have been multiple infections. They've been hitting the mosquito hard with lots
of different ways of patrolling the mosquito. Only monitoring intensively over the next few days and weeks will tell whether it's been effective at
stopping transmission there. But it certainly is possible that we could see infections pop up in other places. And that's why we've provided this
information about Miami Dade. That's why it's so important that women who are living anywhere where the A. aegypti mosquito is present, protect
themselves against mosquito bites by using deet and reapplying it multiple times a day per the label guidelines to skin that's exposed.
And try to stay inside. I know, I'm very vulnerable to mosquito bites. And I try everything I can. Sometimes that's the best policy. Doctor
Frieden it so important to get this information out there. Information is everything. Thank you so much for joining us.
FRIEDEN: Thank you.
LAKE: And another race and another gold for Usain Bolt. In his words, one more metal would make him immortal. Got to love the guy. We'll catch up
with the latest from Rio.
(COMMERCIAL BREAK)
LAKE: Hello, I'm Maggie Lake. There's more QUEST MEANS BUSINESS in a moment. When a major Olympic sponsor tells us how to combat controversy.
And a picture perfect Brexit bounce. A gallery owner explains how he is profiting from the U.K.'s vote to leave the EU.
Before that, here's a check of the world news stories we are following.
Donald Trump's campaign chairman Paul Manafort has resigned, less than three months before America heads to the polls. The move comes just days
after Manafort was sidelined when Trump hired a campaign CEO.
American Olympic swimmer, Ryan Lochte, is apologizing for his role in what happened at a Rio gas station last weekend. The gold medalist isn't
rolling back the claim that he and his teammates were robbed at gunpoint by men posing as police. Police in Brazil say the robbery never took place.
Vladimir Putin says there are no plans to reduce Russia's ties with Ukraine as military tensions increase between the two countries. The Russian
president was speaking at a meeting with his security council during a visit to Crimea. Mr. Putin says he would hope common sense would prevail
and diplomatic relations would be restored.
The U.S. Centers for Disease Control says pregnant women should consider postponing all nonessential travel to Miami Dade county in Florida. The
state's governor has confirmed five cases of the Zika virus in an area of Miami Beach. All the cases were transmitted locally.
[16:35:04] You've heard that old saying, a lightning bolt doesn't strike twice. Usain Bolt is hoping to strike three times. The Jamaican sprinter
is one race away from the triple-triple. Put it simply, Bolt is aiming to match his achievement of claiming gold in the 100-meters, 200-meters, and
4x100-meter relay at both Beijing 2008 and London 2012. All that stands in his way in Rio is the 4x100-meters final.
Don Riddell joins us now, live from the games. Don, as we're talking about this today, it is difficult to medal in success of Olympics no matter what
sport you're in. But for athletics, with the speed that needed to compete against younger people is extraordinary.
DON RIDDELL, CNN WORLD SPORT: Yes, it is extraordinary. I mean, he is going to be turning 30 on Sunday. He says this is going to be his last
Olympics. And to do what he has done in Beijing and London and again here, I mean, we're in completely uncharted territory. You take the 100 meters.
I believe it was only once before had an athlete successfully defended that title. He's now won it in three consecutive raises. Nobody had ever made
a successful defense of the 200-meter. He's done that and doubled down and that is a third here in Rio. The last one to go is the 4 4x100-meter
relay. I think we're all expecting, that bar some sort of catastrophe, and that the Jamaicans will drop the bat, and that they will do that again.
Giving Usain Bolt nine gold medals out of nine Olympic races that he's entered, which is just remarkable. We've never seen his like before and
I'm pretty sure we'll never see his like again.
LAKE: It's amazing because at this Rio games, for all of the distractions and some controversy that we've been talking about, if you looking at
Michael Phelps. If you look at Simone Biles, Katie Ledecky, Usain Bolt. I find -- and some that we haven't even mentioned. There are some people in
the shooting events that have one -- I think one of them is her fourth Olympics. A lot of people are saying, for this class of Olympians, we may
be looking at a generational event. It may be hard to duplicate. Many of these records may stand for years.
RIDDELL: Yes, and you look at what Michael Phelps achieved. I mean, just absolutely phenomenal. You start to lose count of hem medals he won. But
it was 23 golds in the end, 28 in total. Katie Ledecky was actually asked about that achievement. Will anybody ever match that. She said, "Well, I
think someone might." Maybe she was talking about herself. But she said it could take a long time. I'm not so sure. I think -- you know, to
prepare for an Olympics, to be fit and healthy and at your absolute peak for an Olympics, just being able to do that once is an achievement. But to
come back again and again and again and dominate really is incredibly difficult. Just trying to stay motivated, apart from anything else. And
then for all the other stars to align, it's really, really difficult.
And that's why I think, particular in Usain Bolt's discipline, the sprint event, as you say, it's a young man's game, and this guy's been at it a
long time. For him to have got himself to these games and been fit and ready and better than anyone else, three times over, just amazing.
LAKE: We've got to kneel down and bow to that kind of endurance. And as you're talking done, we're showing pictures. He looks like he's enjoying
every moment of it. And hopefully he will continue. I know you're all going to try to get to the event. Enjoy it. We'll talk to you on the
other side. Thanks so much. It's going to be one to watch for the history books.
Now amid the controversies at the Rio games, the vice chairman of General Electric says the company still loves sponsoring the Olympics. Richard
spoke to John Rice and asked him, how difficult is it to be a sponsor during a scandal such as the one facing U.S. swimmers?
(BEGIN VIDEOTAPE)
JOHN RICE, VICE CHAIRMAN, GENERAL ELECTRIC: Well, in this matter I don't think it's difficult at all. Obviously there are thousands of athletes,
thousands of things going on at this Olympics. I think you have to view each incident in the context of the totality, from what I've seen and
everything we've experienced in the last couple of weeks, things in Brazil have happened in a very orderly way. I don't think anything related to the
Brazilian Olympic Games should be based on an assessment of one incident.
QUEST: No, but in terms of as a sponsor of any event, whether it's an individual athlete or it's a sponsorship event, when you take on board a
sponsorship, you are always aware of the potential, aren't you, for something to go wrong?
RICE: Sure we are. When we evaluate our relationship with the International Olympic Committee and the broader Olympic effort, we love it.
And we've been doing it for ten years. As I think you know, this is our sixth set of Olympic Games.
[16:40:02] And we're quite happy with the relationship and the outcomes that have been -- have occurred both for us as a company and the countries
and the cities that the Olympics have been held in.
QUEST: Now, on that very point, on that very point, you know, we hear that the Olympics are very expensive. Not as many countries or cities want to
host them. We've seen the difficulties. What do you get out of being associated with the Olympics, which after all is an extremely expensive
sponsorship to undertake?
RICE: There's a number of things. First, we get an association with one of the iconic global brands. We are a big global company. The Olympics is
a great big global brand. And we think that's an important association for us. In addition, we provide a lot of the infrastructure that goes into
making the game successful. One of the things that we benefit from, and having participated in six Olympic Games, is an understanding of the power
needs, they health care needs, the energy management needs that go with conducting the games. And we've been able to contribute in a variety of
different ways. And frankly, our effort gets better and better as we get more experience.
QUEST: If you look forward to Tokyo and one assumes that you'll be involved with Tokyo since you've been there for the last however many
games. So I guess you're not about to pick up and go home. What have you learned from these games that you will implement or hope to implement for
Tokyo?
RICE: Well, we're learning new things about the treatment of athletes. So we provide much of the scanning equipment that's used to diagnose and treat
the Olympic athletes. We're capturing all the data from every single encounter that they've had from a health care perspective. And we've
learned that over the course of the past few games. We've developed new capabilities for Rio and we will develop even more capabilities for Korea,
which is next in line for us, and then Tokyo after that. As you point out, we're sponsoring both those sets of games.
(END VIDEOTAPE)
LAKE: Britain's decision to leave the EU has seen a slide in the pound and a rise in the hunt for fine art bargains. We'll see what's moving in the
British art world.
(COMMERCIAL BREAK)
LAKE: When is the billion pounds not good news? The U.K. has revealed its budget surplus for July. It may sound good, 1 billion pounds or $1.3
billion, yet it is actually down 16.7 percent from July last year.
[16:45:00] This week we have seen encouraging signs that the British economy is weathering the U.K. vote to leave the European Union.
Employment, retail sales, and the stock market are all faring well in the wake of the June Brexit vote, at least for now. You might say it is a
picture perfect Brexit bounce. That's the view of Jean Malat. He is the director of the London Opera Gallery. He says the cheap pound means
business is booming. He joins me now. Jean, that's very good to hear. Because a lot people were horribly concerned about this. Who is the buyer
though?
JEAN-DAVID MALAT, DIRECTOR, LONDON OPERA GALLERY: Hi, nice to meet you. Yes, it's been really good, the art market has been really good since the
Brexit. It's a very international collector, American, Chinese, Russian, Brazilian. So it's a big mix of internet collectors. And I will say since
the Brexit and also because of the exchange rate, it's been a good sign for us.
LAKE: Yes, indeed. It's amazing, I think some people are surprised that the type of people who can afford these paintings would actually be looking
for bargains, but I guess the rich are not immune from that.
MALAT: Yes. So it's been crazy, you know, like one day or two days after the Brexit, actually Sotheby's had a really, really great auction. And
then there is a little problem -- hello? Can you hear me?
LAKE: Yes, we can hear you. I understand that you're having some audio problems, and I apologize for that. But just restart what you were saying.
MALAT: No problem.
Just on what you were saying. Where you surprised to see this happen?
MALAT: Yes, I was very surprised, because 90 percent of the lot sold during this auction, and I will say a few of the lots was -- did like two
or three times estimation. So it was quite impressive, you know. The total of the auction was around $69 million U.S., which is really a big
amount. And with the Brexit, no one attend that you know. For us in the gallery, since the Brexit happened, we had the height demand with paintings
and master pieces.
LAKE: Do you expect it to continue, or is this sort of a moment where you know, people were considering buying? Can this kind of market sustain that
kind of level of activity?
MALAT: I mean, time will tell. But so far, so good for us. And internationally, I think it will continue, especially for big name, for
magic name, which is always a great investment for collector. It's very safe. I mean, when you're talking about paintings by Picasso, Chagall,
Renoir, it's less and less pieces on the market and more and more international collectors. And also there are so many museums and big art
collectors all over the world now that they need pieces to feed the places.
LAKE: Absolutely. Jean-David, we've already established that you were cool under pressure, when you were having audio problems. You're obviously
a man of style. I understand that you walk around with some of these famous paintings, including bringing one to the studio. Can you show us
what you have? Do you have one with you?
MALAT: Yes, I took two paintings. That's like the typical painting that we are selling well at the moment. So we're selling contemporary art and
big paintings. It was a bit difficult to have them in the studio today. I took smaller paintings with me. That is a small painting by Andy Warhol
made in 1983. It's an original painting from the toy series. That is around $250,000 U.S. that is something good at the moment to buy. It's a
great investment. There is a lot of demand. And they are not so easy to find on the market.
On the other hand, I took another painting by this fantastic French artist, his name is Bernard Buffet. I did a bringing show with Bernard Buffet in
London in February this year, which had been very successful show. Bernard Buffet was a very, very important artist in the `60s and is coming back a
lot on the art scene now.
[16:50:00] I sold recently a painting by him in auction in London for around 1 million pounds, recently. So this kind of art is like what is in
demand at the moment at the gallery. I receive phone calls from American collectors, that they're looking at buying these kinds of pieces, because
of the exchange rate since the pound went down has been good for us.
LAKE: That's right, you're helped by the exchange rate. And also the fact that people are looking to park their money in some hard assets. They're
getting a little bit worried about some of the other things going on in the stock market. Well, thank you so much for bringing them in. I'm sure my
colleagues are enjoying the art class they're getting. Please come back and talk to us again. Thank you so much, Jean-David Malat.
MALAT: Thank you, thank you Maggie. Thank you so much.
LAKE: And he did wonderful getting through that audio problem. When you're done browsing London's art galleries, the Tube is catering to late
night owls. That's right, at least at the weekend. We look at the capitols expanding underground economy. First, a highlight from "MAKE,
CREATE, AND INNOVATE."
(COMMERCIAL BREAK)
LAKE: The night train has arrived in London with economic benefits on board. It has been a long and twisting route for the night tube. First
stop, the announcement back in November of 2013. The goal, to boost the capital's nighttime economy. Yet it nearly came off the tracks. Next
stop, underground workers went on strike in 2015, concerned about their work and pay conditions. The gap was bridged in march 2016, when union
members accepted a new pay deal. Finally, the new service is leaving the platform, people, in a matter of hours it is launching on just two lines,
the Victoria and Central, with more to follow this autumn. It could be worth millions of dollars to the city's economy. I'm joined now by Simon
Calder, travel editor for the online newspaper, "The Independent". Simon, I'm not going to date myself, but when I was living in London, this was the
dream and prayer of many a nighttime person. It's finally happened. Is it going to bring the benefits that every hopes?
SIMON CALDER, TRAVEL EDITOR, THE INDEPENDENT: Well, everybody hopes so. But it's starting very, very slowly, Maggie. Yes, you're quite right, for
the last 150 years, the Londoner has got used to the idea of a last tube, normally sometime shortly after midnight, roundabout now, it's close to
10:00 p.m. in London's West End, where the CNN bureau is located. People will be thinking, shall we get our meal finished and everything. And now
we're going to have to get used to the idea that we can party all night, except it's being done very, very gradually. To the extent that having
talked to a number of tourists and local Londoners, nobody quite seems to know what's going on. Let me see if I can help you.
[16:55:02] The Victoria line, one of the prime lines through the center of London, that's going to have the night tube for night. So is most of the
central night. This is the red one, if you can remember your map, running east/west across the city. Then you've got the Northern, the Jubilee, the
Piccadilly, all of which are promised before the end of the year. But that still leaves another six. It's a bit of a muddle.
LAKE: Yes, it is. And it's really, it's the outer stretch. We want the north and south, that's when it gets to be difficult and expensive to come
home. Is this not just going to change economics, will it change culture? Are people going to lounge? Are they going to spend more? These are long,
built-in habits. Is that going to take longer to take hold?
CALDER: Oh, I think currently because thankfully, London is still a very international city. And people from New York, from Barcelona, from Berlin,
from Sydney, Australia, from all these places where they've always had a 24-hour underground network. They will be showing the way. For
international travelers it's not ideal yet, because the Piccadilly line to Heathrow isn't up and running. And of course it's only two nights a week,
Friday night and Saturday night. The rest of the week you're expected to get home early as usual.
LAKE: And behave. Well, you know, once the floodgates are open, Simon, it's all over. I promise when I come over I'll take you for a leisurely
and long late night dinner. We'll have the CNN group there join us there as well. We look forward to it. Simon Calder, always great to talk to
you, thanks.
That's QUEST MEANS BUSINESS for this Friday evening. I'm Maggie Lake. If you're in London, enjoy yourself. The news continues on CNN.
END
