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Bloomberg Businessweek

Bloomberg Businessweek 10/9/2017

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

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United States
Bloomberg Finance LP
50 Issues

in this issue

3 min
in brief

Americas ● A day after President Trump told Fox News Puerto Rico’s debt would be wiped out, which sent bond prices plummeting, his budget director, Mick Mulvaney, told CNN not to take the president’s statement “word for word.” ● Canadian grocer Metro agreed to buy pharmacy chain Jean Coutu for $3.6b • A woman visits the site in Las Vegas where more than 500 people were injured when a gunman rained bullets on an outdoor concert the night of Oct. 1. Three days later, police still hadn’t determined a motive. With 59 killed, it was the deadliest mass shooting in modern American history. ▷ 13 ● Secretary of State Rex Tillerson deflected rumors that he’d called Trump a “moron” and intended to resign—less than a week after Tom Price stepped down as secretary of…

3 min
your own private mountain

“Fresh powder is one of the rarest commodities in the world,” says Aaron Brill, co-owner of Silverton Mountain. There’s a reason you’ve never heard of the resort. The private ski club in southeastern Colorado limits access to 80 guests a day—unless someone buys out the mountain. First tracks after lunchtime? It’s an advantage that no name-brand resort can provide: not Aspen, not Vail, not St. Moritz. All 1,819 of Silverton’s skiable acres can be yours for $14,000 per day. For an extra $900 you get a helicopter and 29,000 acres of sugary, backwoods pow. Reservations are available to the public and sell out months in advance, but guaranteed access goes to 25 “luminaries,” loyal patrons who have earned elite status. For that $14,000, they can bump day-pass holders when conditions are…

3 min
how offshore is all that overseas cash?

“Just because money is technically outside the U.S. doesn’t mean it can’t be used in the U.S.” Donald Trump and congressional leaders’ latest plan for tax cuts is missing a lot of important details, but in a speech on Sept. 27 the president pointed to one clear objective: to get U.S. multinationals to bring some of the money they’ve stashed abroad back to the U.S. so “it can be put to work and work and work.” The plan would give companies a lower rate on built-up earnings—perhaps 10 percent rather than the current 35 percent—which they’d have to pay regardless of whether they repatriate money. Right now the money isn’t taxed unless it’s brought home. Not that it’s necessarily so far away. While a tax accountant might label the cash foreign, a…

6 min
don’t frack on me

When Bill Young peers out the window of his $700,000 home in Broomfield, Colo., he drinks in a panoramic view of the Rocky Mountains. Starting next year, he may also glimpse one of the 99 drilling rigs that Extraction Oil & Gas Inc. wants to use to get at the oil beneath his home. There’s little that Young and his neighbors can do about the horizontal drilling. Residents of the Wildgrass neighborhood own their patches of paradise but don’t control what’s under them. An obscure Colorado law allows whole neighborhoods to be forced into leasing the minerals beneath their properties as long as one person in the area consents. The practice, called forced pooling, has been instrumental in developing oil and gas resources in Denver’s rapidly growing suburbs. It’s law in…

2 min
vitamix a3500 blender

THE CHARACTERISTICS For four generations, Cleveland-based Vita-Mix Corp. has produced the blender of choice for smoothie lovers. The company’s top-of-the-line product in their Ascent collection, the A3500, is a countertop brutalist masterpiece—the base is offered in four finishes, including a new black brushed stainless steel. Beneath the sleek exterior is a 1,500-watt motor capable of producing 2.2 horsepower, spinning blades at up to 23,000 rpm, or roughly 240 mph. Chunky switches have been traded out for a touchscreen interface, and the containers are embedded with NFC chips that let the blender automatically customize settings for their dimensions, whether smoothies or bowls of soup. THE COMPETITION Vita-Mix largely had the lucrative blender category to itself until the last few years, when powerful, expensive food processors began roiling the market. At $620, the A3500 aims…

6 min
rich returns from poor women collecting debts

India’s power companies have long struggled with a problem that’s largely responsible for $10 billion a year in losses: slum dwellers who steal electricity and then refuse to pay company officials who come seeking remuneration. Collectors can’t go into some neighborhoods without being chased by mobs. Some have been beaten, tied up, urinated on, even murdered. Officials at Tata Power Co.’s joint venture with the Delhi state government have come up with a solution. They’re hiring women living in the 223 slums the venture serves in the northern parts of the Indian capital to press their peers to pay up. Called Abhas, from the Sanskrit word for light, the 841 women—wives, mothers, and some as young as 20 years old—go around the slums knocking on neighbors’ doors and persuading, coaxing, cajoling, and…