I'm John bachelor. This is the John bachelor show today the New York City 2014. The semiannual auction in New York for major works of art. From the twentieth century now in the 21 for different reasons than in any event. The big dollars symbol is what is striking. -- yet 'cause -- an -- for Bloomberg she covers the art market is here to introduce is to what's going for sale and why. -- very good evening to you big numbers and their numbing only big they just get bigger. The question is why these works and why they come on sale now it's a 72 lot evening. Is this unusual. Francis Bacon Andy war hole and Mark Roscoe altogether. Agenda. You know no attention and usually it's just that the number is keep getting larger -- -- be that every. The consecutive -- And again. Well we had them in November offensive Payton kept chickens sold here in New York could for. 442 million dollars settings and you auction record for any artwork. And then on on the heels of that -- Christie's. Procured it or not they're kept it could -- -- one another. Contraband. They can and that that that painting is going to be used. Probably -- The most expensive work of the people right now by -- of -- talks -- of the evening auction on on May thirteenth it's estimated at around eighty million dollar. And then you know you have. Perhaps Furyk by a quarter home Roscoe. Gets quoted you know -- talking about it and content. On news. People like. Four or five and works better. Overtly mean million. Dollars. Expected in the auction let's start with Francis Bacon. Because you mentioned three studies of Lucian Freud and there's another one of studies of John Edwards this is a man whom. Margaret -- leftists are called that man who -- that awful paintings he died in 1992. This these high prices has this always been true of of Francis Bacon's work. Hundred would you say a 142 million is possible. We'll learn what possibility happened -- you know there obviously thank you that there is you know frustrated and a better. I didn't get dad to pick up my my my trying to do -- for efforts for the oncoming out. You know it's -- attack level you know little -- to. That's relatively small number of people on the competing. So the Catholic hundreds of people applying for the paintings probably a handful so you know they've made -- -- entire globe rallied for a four billion years it'll. -- look at didn't work as. And installed in the past it has status symbol and an investment. And in some cases that passion and all of those things and so they've they've been content slipped them and making huge profit. You know really artist and in being -- news from my trade now than that that. You know played played contract money. -- -- -- -- -- -- it's a good investment for the future billionaires who want to acquire this let's go to the one that seems having an international. Cut dimension. This is Alexander Calder seven and a half foot long mobile's. In which is in French flying fish estimated at nine million to twelve million. Use use you indicate that the the anti Asian market is is very teen on this particularly Chinese why. I'll eat until this is there is as an elected symbolism as a bundle of prosperity. And told them so you know that the unpaid state Torrin Tucker tip to tip it toward the Warrick and Hong Kong. And Adam thinking to be a lot of intensity old so. I'm played -- strategically in the mail and at last number eight and then all of those Americans lucky number. In negative nasal culture. Right everybody wants a phone number and -- in -- Saturday. Now maybe. Somebody -- -- on mental capacity than that it's really I mean that's a lovely artwork attentive to its beautifully crafted and the unit has that. You know the market is looking for things. That are a fresh and perhaps problematic -- that data by the U. -- -- is part of it is our work that tactic seemed to put holes that they value and so. That doesn't work this particular culture come from a collection. Of major. Chicago based collector for the approval and that's for a for a -- close to five decades and and they acquired at the 1965. And that remained in that collection they land and too too much all the major museums. In the US and and abroad two exhibition so. It has -- bearish exhibition history and and then and and you know and called -- appealed to Asian collector then obviously at -- market have been. Strong in recent years prices have risen quite dramatically and so it'd be interesting to see where it ends up. This is -- a mobile's the sort of thing you buy for the crib when you're lucky enough to have a child -- this particular -- go for between nine inch and twelve million new point today. Coming from the collection I learned from him. -- Edwin and Lindy Bergman Chicago based collectors. There's a photograph of another work from their collection I believe. In. Yes because and -- that -- they have they're known for a Favre wanted to alert just dismantle -- just -- most of just of course knowledge and American posted articles closed down from making it. -- that small box that. Children objects found object and and images from popular culture from -- can't -- folks. He was very taken inventory and took that call and so left -- being -- -- her movie. I'm ready he worked for for for months to get to build that box where you see her arm her photographs and -- he -- images -- and paper benefits. And it's a Penny Arcade today the -- of -- -- ball that can be thrown on pardon traveled to tell us. And the work and does the current now market and market for the hardest hit it quite undervalued diminishes his compared to -- of his peers to know that a post Florida. On those that -- is estimated four million to six million dollars. Com and that it's it's one of the southern. Barked that will be part of the evening panel. You know from -- department collections department donated. Income 30000. Worry about Cornell to the Art Institute of Chicago. And -- -- -- has the gallery at Cornell gallery named after them so that neither of the work that remains in their possessions their lives that don't work they knew they artists. They had a relationship for that but I'm human and -- is believed to belong over the years they had that's. Corresponded with him that's it it's it's quite interesting in this particular a lot of extra confidence but that don't hear of -- -- of fun. Kind archival material that's. Cornell used to hit -- to repurchase to build it. You know the newspaper clippings and images images that attend -- on credit and kids. Does it does it's just can you still drop the ball -- a lot of immoral and it's entitled it well actually it's not titles. But they refer to as the Penny Arcade portrait of Lauren Bacall. And for those of you who answer crossword puzzles it's from the Lauren Bacall Humphrey Bogart movie to happen to have enough that's the photograph that -- There's a big number that's floating around that Christie's -- again at this auction as is the biggest number ever they're looking for 500 million for one may say you. Next created it it is not that they've they've made almost 500 million doses last -- And in November than they don't serve 600 not a hundred. Million dollars and once -- so I think that that this testament easily and they are to be here. They've beaten and surpassed that would be interesting to see whether you know. Better put that put it in the united as for the last two. He's been slapped me and then in November -- you. And it hadn't. Matched the record for for those folks that for the largest options ever you know in terms of player. To protect Italians and the would be interesting to see if they will be able to trust. Put that figure and further. I Koch yeah 'cause -- enough for Bloomberg News. These are the good days for the modern -- markets may thirteenth at Christie's in New York. Welcome I'm John bachelor this is the John -- Okay. The. And I. And and. And John -- This is the John that's a -- the Arctic Ocean the North Pole -- -- you think of the conquest of that. Arctic Ocean in the North Pole -- traversing of the cities in the ice pack in order to plant the flag the North Pole in the twentieth century. But here we are in the 21 century. And there is a new story in the Arctic Ocean. It's ice free and it's increasingly so what does that mean for commerce for national security for the relations of nations. Marcus -- lockers for the Hoover institution writing most recently of the Sacramento will be. Is looking at the Arctic Ocean and this prospect and who already is racing to take advantage of it. Marcus a very good evening to the Arctic Ocean opening up what can we say right now about the metrics of this is it ice free now. Is it doesn't have nab a global channels now good evening to you. Good evening -- well it is not. What we would imagine an open liquid ocean it does go through phases certainly feasible where things are just -- impenetrable. And that's where ice breakers come into play. But what we do know is that that are rapidly increasing rate that ice cap is melting and that is becoming more applicable. There is a council of nations the Hoover institution has an Arctic Council that studies this matter. These nations are they all touching the Arctic Ocean or. The Arctic zone or are there are some nations participating that are not contiguous with the. There are some that are non contiguous and the predominant ones are the ones who are of course right on it that include the United States thanks to Alaska. Canada of course Russia. Greenland but that of course belonged to Denmark currently. And and then you go up into Norway Finland. These nations it looks like at least have five follow the presentation at the Arctic security initiative at the Hoover institution. It looks like there is agreement that. Terms of development and cooperation and sharing our and our best interest is anyone dissenting from that position so far. Well it is being challenged as being challenged outside of the council because it is China for example who was playing it as a country which is that what. These are international. Areas. They should be open to exploration and two traversing and and so yet there's some challenge there. And then there's challenges with in the in the council itself for example. Candidate does not want to recognize a lot of that territory as being international but rather belonging to. Candidates also it's contiguous territorial waters. We're looking at fisheries we're looking at energy oh certainly and -- the possibility of natural resources is endless so as commodities. I know right now in the Arctic. Zone of Canada they talked about gold mines and there might be diamonds up there that you you can imagine anything mrs. king Solomon's mines to the north of the Arctic Circle. So there's a lot of wealth they're also. Questions have navigation is that a conflict to your knowledge Marcos are we looking at people. Taking responsibility for the nab a global parts or rescue. At -- that sort of thing. Those are all things that are being debated within the council itself there's the question of who then is responsible for the use these common. And if they're going to be international applicable waters what happens if you have an accident for example who was responsible. For that accident and an oil spill and in particular this becomes a key question because we're not so worried about it today when there aren't a whole lot of people up there or. There isn't a lot of navigation but what happens when that increases. So those questions are ones that really need to be answered and dealt with in an international body and that's where that -- this Arctic Council comes in. In the plane is quite important. Right now I'm going to press the Cold War story because it seems like we're doing a reprise. Russia has a lot to gain by those openings c.s for example Russia's always been -- and because of the vastness of its territory stretching to Siberia. But the Black -- is hemmed in by having to pass through the boss Ferguson. Get out of that contain seat and the Baltic cast to wind its and they have to wind their way through many European states all of which are part of NATO. But the Arctic opening up. Gives Russia the possibility archangel opens up freely. But also exploration. And security. So at this point to your knowledge Marcos is there were added anxiety. At either the Arctic security initiative that Hoover. Or in the Arctic nations. That Russia is so let's put it this way the Obama administration has chosen to characterize Russia as a pariah state. Does that change the formula for the Arctic nations. Well I think it certainly does I mean the context of what we're looking at in particular with what's been happening in the Ukraine. Requires anyone who is looking at this region to question what the strategic change in ship is in the Arctic. What we can what I can play in this is something that I've gotten from admiral rough at. Who is just it was also at the Hoover institution if you think of just. When you when you talk about navigating through the Arctic you need ice breakers because regardless of what happens over time there'll be a need to open things up. Russia has 43 ice -- United States currently. One. Once more being built we've got one aging icebreaker. So just consider that specific. That data point has how the Russians have been considering and thinking about their northern -- I mentioned HL Mac and their quickly because is -- geography for a hundred years out of date but -- fallen into reading him and so he comes to my mind. A hundred years ago this concept of Eurasia joined Africa called the world island. Was also presented as a prominent -- because it was -- come now doubled the Arctic Ocean was locked in. What I see from the potential of the Arctic Ocean no longer locking in Russia a year long or Russia getting access out through it. Is the possibility that that world island. Will become even more dominant in the 21 century the theory a hundred years ago was whoever controls Eurasia the world island. Controls the planet. -- mind Marcos is that is that conversation happening in Washington or in NATO are they looking at the possibility that the Arctic Ocean. Creates enormous possibilities for world domination for whoever controls Eurasia. Well I think those conversations are certainly taking place not so much in the context that is -- new dominance but what is the strategic implications. And certainly that have to be a part of that conversation has. How does that ship because as Hussein has suddenly you've created this entirely new lotion and it is happening rapidly it is happening today. We see the images but we also are are looking at these climate ship that are really melting things up there. So. Than what -- have to and I know that this is at least thinking places some military circles and certainly. In strategic planning -- State Department and other places. Marcos of the European states who do not cut touch the Arctic nation I've just point there because you have good deal of experience. -- -- their concern that they're going to be cut out of this treasure chest that nations are going to be. The metaphor comes to mind frozen out of the future. I guess I mean that you know you pointed out to earlier about the last two. Well that exist out there whether it's minerals are hydrocarbons. In particular hydrocarbons. Because it's estimated that about a third of the undiscovered oil and gas exist up in that region. Anybody wants access to that especially if that's considered to be international. So so yes there are people who were there are countries that are absolutely. Keeping their eye on that ball on trying to figure out how to get a part of. Marcus could lock this is a research fellow at this at Central European University he's visiting fellow at the Hoover institution. Writing most recently in the Sacramento bee I'm John bachelor this is to John -- show. It. The. I'm John bachelor this is to John bachelor show Mars the mystery of marks. Was it once upon a time Oceanic and other words conditions for life. Or has it always be in the drive for beating world we see each day. Now the theories go back and forth which is why needs said Perkins writing most recently in nature magazine. We're going to come up with a theory near the equator it is neither too hot nor too cold or too wet to dry -- a very good evening -- you. The assumption is that Mars had water on the as secondary evidence that we're accumulating on our Landers of opportunity and spirit. And now curiosity is that. If not streams certainly there have been run offs and there even parts of Martha looked like they were late asked the question is. When did this happen. The theory was early Mars but now there is some doubt water early Mars and for how long what do we know. Well good evening -- As you mentioned Wal-Mart is now hey you know frigid and dry place but there's there's a lot of surface features on the red planet suggestion that liquid water -- -- crossed you know smaller -- in the distant past you've got. These rugged canyons you've got lowlands that are apparently sculpted by massive floods they have these tear drop shaped islands very much like him or urgency in today's river flood -- And there are delay your sentiment presumed been laid down in the featured links and season all of these things. You know again. Give you the idea that there has been liquid water flowing in in in some cases accumulating but from march to be warm and went through without its early history -- sometimes -- to proposed it was. Required an atmosphere much thicker than two days. And there's a new study suggested that many of those which -- social features we were talking about work or during the occasional warms salesman they consistently hospitable. -- of martian history it's now long gone. On what these researchers did was they looked at images taken from Mars orbit of these south Carolina's -- period of -- surfaced near the equator. And in need looked at the number and size isn't craters there. And this area was less scope of influence water about. Three point six billion years ago based on the crater count and what they did was they found -- 300 features that were either definitely -- possibly the remains of -- craters. Only average they were a couple hundred feet across and about 10% more or less than 65 feet across and that's important because that provides a clue about how -- the atmosphere was in the past. You know you look up at the night sky and you see shooting story that's something that didn't hit the ground because it burned up university atmosphere and and that there are actually fewer -- on all the first surfaced sooner or. In one South Carolina aside ten to Mars. You know partially because worst weather and tectonic activity kind of -- those craters but also because. The atmosphere keeps those small craters from forming in the first place -- -- burn paprika and small pieces of high altitude. On anyway what what. At this size distribution of craters the researchers identified in the studies suggest that this into mars' atmosphere was no more than 150 times is still insists it is today. That still only once or what sometime this thing would be needed to keep Mars surface above freezing for the long term. And the other question is -- how would -- get liquid water sculpting the surface if you. Didn't have the atmosphere that you know keep the planet warm he's been through you know just increased density and interpret scripture in and you know -- differences. I wanna make a note here -- it wasn't just flowing water it was big floods massive floods he -- so something happened. I have absolutely from the police I -- is -- things were were in the -- looking at and you know volumes of water that are comparable to everything that's free flowing owners today. -- You know and the most probable answer to how did you get that -- school water sculpting bars is that Morris who has only intermittently warm -- consistently warm it will happen that happened there are several ways. Some of them regularly -- through time and some sporadic you know more rotational axis -- since slowly wobbles just like her and an uncertain time more with -- thicker atmosphere. Which for the -- in the circus given that liquid water and you know protective blanket against incoming objects in the atmosphere but. You can have also had situations where the industry was temporarily sickened by volcanic activity releasing -- greenhouse gases or buy gas is released by impacts it. You know vaporized volatile. Things in the plan and structure in the projectile itself you know either of these couldn't stick in the atmosphere for decades or centuries what comment -- told -- -- -- -- indeed there's a previous study that shows that if you had a 200 kilometer wide object slamming into march it would boost peer pressure -- keep -- above freezing for about a century. This period how three point six billion years ago there looking at the craters. That's towards the end of the great bombardment -- we were earth and Mars and all of the inner planets were pounded by asteroids. So that atmosphere would not have been sick enough to slow down the -- bombardment. -- that's what the water was right at that long ago the -- lacking here. They're very much yes -- and again you know you talk about. What the -- late heavy bombardment that started around three point eight million years ago in the and in the end. Continued. For. You know a small but you know substantial amount of time in in terms geological terms. -- they again an atmosphere and even an atmosphere stick over as his birth is not going to stop a really large object what it does is stop the small objects what it does -- stop the small objects in the end this small objects of what they were using to base this study. We -- of the big -- would -- would slow bail but the small ones who would be the one that would break up in the small ones are the clues that truly have been the atmosphere was that the time. Let's go to another geological feature that you've written for science magazine. This is a mystery on first look it's near the equator as well as the first South Carolina was. This one looks like a lake let's call a honeymoon liked. The mystery is what kind of late and how did he get liquid water given what we now know about the intermittent CEO of warm and cold on Mars. What is the date distaste at two and a half billion years ago. Approximately so in the end and what this new studies suggesting that is that under very unusual circumstances you can you can have liquid water even that the planet's below freezing. All there are areas -- more as a cult chaotic terrain and these are really large areas where the landscape is just littered with shattered tilted kilometers thick chunks of rock and these areas also seem to be the sources of fantastic floats in the and previously scientists have proposed that you know these. -- from the chaotic curious have kind of erupted when. Subterranean -- war -- for certainly melted by the rise of molten material coming up from deep within Mars and you know volcanic activity. Or is that you know the water it was scary from distant regions via quote person and something else suddenly released him but now there's there's kind of a fresh new idea that's popped the last couple years. That helps explain both how you can have brought Aires train just get totally broken up -- -- in hell water the conflict with a largely coal plant. What this study does -- looks really a particular. Crater or an area near Mars area mars' equator called Arum chaos if they are saying you know. It's a large circular area about a 150 miles across -- looks like an old crater with a belly caloric advantage and and the large flood plain outside definitely it's kind of sculpted by him influence and -- the big question again is you know how could this happen. This team of researchers has come up with a plausible scenario that these the idea is that. You know -- crater was formed about three -- has been years ago a large impact. Again you've -- you've got this particular model like trader. And at that time Mars was warm and have to have him liquid water. And the two and a half mile deep -- started collecting you know water this is accumulated. Precipitation over time they collected enough water to make a one mile deeply. And then later that you know -- conditions on the planet. Chill that -- throws and then wind blown sentiment started to accumulate on the surface you know marches in the dust storms all the time. In the end once those settlements reached in thickness of about two kilometers thick. Blocked the heat seeping up from -- interior which normally come through you know the planet's surface in the escapes to space but in this case it was kind of blocked by the end. Overwhelmingly a sentiment in the and that blockages that he'd Olympic week coming up to -- -- more than buried lakes basin and eventually some time about two and have -- years ago. The way to the sentiment constant icy lake ceiling to collapse in the -- Squished so what lakes water to the surface you know the sentiments don't float they they sink the water rushes to the surface and in that water. Breaks to the crater rim possibly two weeks. They've routed by you know ground water seeping through the rocks and high pressure. And what they're estimating is that over the course of thirty days or so possibly less. About 93. Counts of -- commercial water which is about. 80% of all the volume of the free flowing water -- today or another way of looking again at about four times the volume of all the great links combined. Court the nine mile wide my own head. And the and the float out onto the plane surrounding its QB some of those erosion of features that there are some. -- and where's the water today as it back in the interior of the planet. Well again this would be something that that you know. Possibly evaporated. -- the could have been some seepage back into the into the -- planes and things like to have. More than likely is over -- -- -- -- the part that didn't really get locked up in minerals has been kind of evaporated and gone. Said Perkins for nature and for science side to. Speculation is based on evidence of water on the surface of Mars when and how much I'm John -- This is the John bachelor show. I'm John that's this is John bachelor show. The naked city this is this story of New York City just the way it was fifty years ago and they did that wonderful television show their eight million stories in the naked city this is one of them well in fact you know this story they're not making any more of New York City real estate that's the beginning and end this tell that tale to help me -- it. Harry Siegel writes for the New York Daily News. Perry -- more realistic okay there's never been any more realistic created so you have to do in New York in an apartment but you're writing a story of eight change in direction for apartments in New York what ease air BNB good evening TU air. Good evening so they're -- B is this really Smart. Online market makers the way it's ordinary people endured big limb words easily. Without their apartments maybe their maybe -- not. But sales which account for a week where my place armed only committed extra money over the summer I can lift it out for for the night. And you don't have always been some people come up and having displaced people vote buying and to sell. Opens up the best opportunities for a Pulitzer for individuals and -- it to -- a woman at a house or apartment. And also for Wentworth to maybe have units that they have rented at the moment they can make more money -- -- by the night of making the fact local polls but maybe you're down the hall from you mean the building you with. So what we have here is an opportunity for people who are not in their apartment at that moment or for perhaps have a bedroom it's become available. They can list. And sell that for a night or week or a month. And you negotiate directly with that person and there's a fee paid an -- B&B gets a percentage of and that's the business well. And -- that they -- -- the market cap of ten billion dollars which is more than open to date they are the first billionaires of these sharing economy. There's a lot of money to be made that little cut of each of these transactions -- question is it is mostly you know I'd -- guy on guy on the street as a place. Where it is mostly big landlords and in other cases is -- -- an excuse that we renting an apartment by the money due to whoever. Want to pay for short term place a porous. Nice -- -- -- to bed asleep in quote doers are prostitutes whatever the event release hoping you'll. Well it's New York City OK so let's go let's go with this now I I've seen some hotels in New York. Where you can pay 350. To 550. Dollars. For a place that I wouldn't wanna stay inherent let's be blunt about it. Right and your tolls that lucky you you have a place for the night so this is not a good place. If you -- hotel room but it is a good place for the hoteliers. To make a good profit OK fine -- making up for the rest of their empty rooms in America. However Eric B&B is allowing you to live where human beings actually live all the time right isn't that the advantage of the your to your going to go where people already approved that humans live here. Which is great and also. Did you and it actually going to the fabric of the city instead of being in some said the -- place. You know may be in -- we will we should cut off an actual human life -- New York. That part of it is is terrific people make it a little extra money is terrific. Produced a sitcom that's appealing about a about -- economy and just believe we did -- connect to deal with the three -- been able to -- your room. And -- get some money back. They can tell we're coming to the but part Harry -- if -- in New York is is the daily news the but part. The attorney general of New York State Eric Schneider men isn't happy with the air BNP. Business plan for New York why not. Because they're basically they're basically criminals on especially to tell that won't open up the books. Which indicates that their reasons not to with a short of it is -- think the most of the money comes from huge big users. Basically when Edwards we're renting out large blocks of units that are not supposed to be a titles it's have been up to people with fabric of the community. The putting him in a secret defect so we'll help. It's one of the ways people -- warehousing space and how -- secure -- -- you can make a lot more money. On. The reason that you don't want. Obama is certainly a new block if you live somewhere residential. This -- housing people actually need to a record deal with the the last. And so there's something very dishonest but the model and they're being beat this press but they always talk about it is. Just this very sick lady who's able to pay -- medical bills beat humans that spare room. His ordinary guy who does this and that and that's great to be simply doing that everyone welcomes them here. But I'm not sure which is that the business that really is. I I go along with what can go wrong and why but relieved and the attorney general of New York has to get with the fact that the sharing economy. Has the social media which makes it possible for people to move much faster than the long arm of the short arm of regulation. So let me give an example from the twentieth century and an older person -- so I remember when New York was an apparent it's all right. I I I was happy to have my five floor walk up on the upper west side. Now I knew and everybody new on the block that at night there were parts of the block that weren't as safe as other parts especially because there was that. As sorrow right across the canyon and I could watch what you say this is rear window times five million xxx okay that's what was going on over there. Because these were the apartments. Where human beings without means were warehoused by the city of New York in the State of New York in the 1970s and eighties it was a practice that was commonplace than. I don't think -- and longer happens. No one was going no attorney general of New York was worried about protecting my upper waseige unclaimed the people's republic from. The dangers of that -- sorrow and nor was he or she worried about protecting the people in that Astaro led nowhere else to go. And were left pretty much to fend for themselves because the police didn't particularly care about what was going on in that building now. Here we on the 21 century have I told a story that doesn't apply or is that a fair analogy -- this. It -- -- that that was not a great thing. Mr. rose has actually been real well I would in the for several years and having like single rooms that the way I mean -- -- -- cheaply and I think a lot of benefits to that. I am also absolutely pleased the city where -- people one way or another those people not go away and submit to be somewhere and they're going to be in intermingled with neighborhoods. We you don't want to institute have no social patrol this week which. Granted the government group -- it is for much of the seventies and eighties and -- let the market determine where everyone lives and -- So so these are companies are actually very good itself regulated rent. -- if you doing very bad stuff when you're ripping your Carmen -- are ready to get tossed off the marketplace -- -- today you know duke duke there's trust based verification works. Because nobody wants to do business shady person and that's great internally. But how do you protect. For extra -- for all the other people -- actually part of your system. But Whitman quit hoping that these that this is big and dynamic and open. Becomes it becomes a huge problem again. -- air -- doesn't really care if it's a giant around for a neighborhood if they don't want lots of people moving and now. It would cause and win awards along with a lot of the factors to warehouse buildings -- the west could be available can actually put a little roll with the fuel supply and demand and lower rent. Social government -- very -- mechanisms were pretty candid look at these the big picture in the common interest of the city. In a -- that that this private companies but the security didn't. At all. Do you have indication that this is a problem in the boroughs. And because I don't have any indication here in Manhattan that I've heard complaints yet. He the the other disreputable tablet in New York has had some interesting stories involving. Involving prostitutes and drug dealers using apartments in the name. Are we outlandish -- evolving and overweight a person. I just keep party. Work or hurt or or that but you -- indications extorted -- that was just insane. So I don't know that they constitute a systematic problem but it was a -- distinct what are the issues is air -- doesn't have -- books. Snyder and his assuming that thinks a good reason the most of the business comes from large -- -- so as we. You know -- is. Good conglomerate buyers from China and otherwise it's very very hard to get to number sense of how much this is distorting the market place. And how much more housing -- would be available this wasn't happening. There eight million stories in the naked city and Harry Siegel for the New York Daily News tells one of them air BNB meets New York City good luck guys on John -- and this is the John -- there.