-
Kristi Noem on Retraction: Kim Jong Un ‘Should Not be in the Book’
By Elizabeth Vargas, NewsNation
Produced by Neil A. Carousso
- The South Dakota governor avoided directly admitting the claim was untrue
- She accused tribes of allowing cartels on reservations
- She defended her decision to shoot and kill her dog
(NewsNation) — South Dakota Gov. Kristi Noem acknowledged removing a reference to meeting North Korean leader Kim Jong Un from her book, wavering when pressed on whether it was inaccurate during an interview on NewsNation’s “Elizabeth Vargas Reports.”
Noem, a Republican considered a potential 2024 vice presidential pick, avoided directly admitting the claim was untrue when asked about the retraction. But after numerous follow-ups, the governor said, “This anecdote I should not have put in the book. And I asked (the publishers) to have it taken out, and it is.”
Noem’s book has faced scrutiny for including the anecdote describing her meeting the North Korean leader while traveling during her days in Congress. After multiple reports raised questions about its accuracy, a spokesperson for her office said Kim “was included in a list of world leaders and shouldn’t have been.”
The Associated Press noted Noem traveled to China, Japan and South Korea as part of a congressional delegation in 2014.
Noem defended not initially copping to the inaccuracy, saying, “I don’t talk about personal meetings with world leaders.” She said she “took responsibility for it” and that “the buck stops with me.”
Mike Pence and Donald Trump
Vargas asked Noem if former President Mike Pence did the right thing by refusing former President Donald Trump‘s request to reject the 2020 election results. Noem avoided directly answering, saying, “I don’t answer hypothetical questions” because “the law has been changed” since then.
She also criticized Pence for not endorsing Trump.
“Mike Pence not endorsing President Trump right now, he’s basically endorsing Joe Biden. And that’s just hard for me to believe,” she said.
When asked if she’s still in the running to be Trump’s 2024 vice presidential pick after attending a GOP event with potential VP candidates, Noem said, “I don’t know. I’ve told President Trump that he needs to make sure that he picks someone who helps him win.”
She said she wants Trump “to be successful. I’ll do all I can to be helpful with that.”
Border, tribal reservations and rural land
Noem alleged Native American tribal leaders in her state are allowing drug cartels to operate on reservations with impunity, contributing to the national border crisis.
She said three reservations in South Dakota have banned her from visiting after she said cartels are trafficking drugs and humans from the reservations.
“We have the cartels set up in South Dakota,” Noem said, adding that a cartel member reportedly kidnapped an FBI agent in the state.
She accused tribal presidents and councils of protecting the cartels because “I have no jurisdiction there” on reservations. Noem said she has offered to help enforce laws, but tribal leaders retaliated by “banning me” instead of the cartels.
“Why don’t you ban the cartels, the ones who are trafficking the drugs, who are abusing your children and your women and trafficking them?” Noem challenged.
Noem said the cartels’ presence shows the border crisis extends beyond southern states, alleging “dangerous criminals” and people on “terrorist watch lists” are entering the U.S. illegally.
On immigration, Noem backed Trump’s proposal for “the largest deportation in American history” of those who entered illegally. She criticized the Biden administration for “violating federal law” on border security.
Noem also accused the Chinese government of buying up rural land to control the U.S. food supply, calling it a grave national security threat that must be addressed.
“Most of our packing plants are owned by Chinese entities or Chinese investors,” Noem stated. “And now they’re coming in and buying up our land as well.”
She alleged that it is part of China’s long-running strategy to make the U.S. dependent on imported food as a means of control. Noem argued that past policies aimed to ensure America could feed itself for national security reasons.
“If we think a pandemic was scary, I can’t imagine what it would be like if we let China control our food supply,” she warned. “We should own our land. It’s in our best interest to have small family farms out on the land growing our food for us.”
Dog story fallout
Noem stood by her controversial decision to include an anecdote about shooting and killing her family’s dog for poor behavior years ago in her book “No Going Back” despite criticism the story was a political misstep.
The Republican governor said she wanted to be upfront about the “painful” choice rather than shying away from it like most politicians would.
“This book is filled with vulnerable stories, painful decisions that I’ve had,” Noem said. “And at that point in time, I had a decision between the protection of my children and the people that were in our lives and a dangerous animal that was killing livestock and attacking people.”
Noem pushed back on suggestions that rehashing the dog shooting was a political error given polls show 65 million U.S. households own pets. She said most elected officials would “run from the truth” and difficult decisions.
“I don’t do either of those,” Noem asserted. “I wanted them to know the truth. I wanted them to hear it in my words.”
NewsNation affiliate The Hill contributed to this report.
-
U.N. Security Council Convenes as Israel Declares War on Hamas
By Neil A. Carousso, WCBS New York
WCBS 880’s Neil A. Carousso talks to CBS News Correspondent Pamela Falk who’s at the United Nations where members of the U.N. Security Council will discuss Hamas’ attacks on Israel and weigh an official condemnation.
-
MIDTERMS 2022 LIVE UPDATES: Lee Zeldin concedes to Kathy Hochul
Executive Produced by Neil A. Carousso
NEW YORK (1010 WINS/WCBS 880) — Midterm election results are continuing to roll in Wednesday. In New York’s closely watched governor’s race, Gov. Kathy Hochul declared victory over Republican challenger Rep. Lee Zeldin, who conceded but said the “rescue mission to Save Our State continues.”
2 p.m. — Lee Zeldin concedes to Kathy Hochul
Republican Rep. Lee Zeldin conceded to Kathy Hochul in the New York governor’s race on Wednesday.
Here is Zeldin’s full statement:
“I would like to congratulate New York Governor Kathy Hochul on her election to a full four year term.
“This race was a once in a generation campaign, with a very close margin in the bluest of blue states. The unrelenting passion and hard work of our grassroots volunteers and supporters made this incredibly close race possible and helped us win at least 49 of New York’s 62 counties. Republicans, Democrats and Independents united as New Yorkers, pouring their heart and soul into this campaign.
“Those controlling Albany should take note. New Yorkers of all walks of life are sick of the attacks on their wallets, their safety, their freedoms and the quality of their kids’ education and are hitting their breaking point, as proven by these results. As they take office in January, Governor Kathy Hochul and those controlling Albany must address the grave concerns voiced by the voters. While this campaign has come to a close, the rescue mission to Save Our State continues.”
There hadn’t been a governor’s race this close in New York in 30 years, with Hochul only leading Zeldin by about five points in the traditionally deep-blue state. And while Zeldin lost, his message appeared to resonate in New York City’s suburbs, where Republicans had a strong showing Tuesday and helped the GOP in its effort to take control of the U.S. Congress.
1:30 p.m. — Lee Zeldin will reportedly concede to Kathy Hochul
Republican Rep. Lee Zeldin will reportedly concede to Kathy Hochul in the New York governor’s race.
Zeldin’s campaign told the New York Post that Zeldin planned to concede Wednesday afternoon.
Hochul declared victory Tuesday night after some news organizations called the race for her, but Zeldin had yet to concede as of Wednesday.
He said he wanted to wait for all the votes to be counted and also predicted “massive” votes would come in for him from Long Island, where he lives.
Hochul was leading Zeldin 52.5% to 47.5% as of 1:30 p.m. Wednesday, with 94% of precincts reporting. The outcome was fairly close for New York, which hasn’t elected a Republican governor since 2002.
For comparison, former Gov. Andrew Cuomo won a third term against Republican Marc Molinaro in 2018 with nearly 59.6% of the vote to Molinaro’s 36%.
12 p.m. – Tom Kean Jr. flips House seat in NJ, beating Tom Malinowski
Two-term Democratic Rep. Tom Malinowski conceded to Republican Tom Kean Jr.
The Associated Press hasn’t officially called the race for NJ-07, but Malinowski congratulated Kean Wednesday on Twitter.
Kean appeared to already claim victory in the race on Tuesday night.
The district had picked up more Republican voters after its boundaries in the northwest were redrawn.
Gov. Phil Murphy and U.S. Rep. Tom Malinowski. Photo credit Danielle Parhizkaran/NorthJersey.com, North Jersey Record via Imagn Content Services, LLC Malinowski cast Kean as too reliant on support from voters loyal to former President Donald Trump to represent the district, which swung from reliably GOP to Democratic control during Trump’s years in the White House.
Kean had seized on inflation as a top issue and hammers on House Speaker Nancy Pelosi, whom he is betting is unpopular with voters.
This year’s race was a rematch of sorts. Malinowski narrowly defeated Kean, a former state lawmaker and the son of former Republican Gov. Tom Kean Sr., in 2020. Malinowski first won election by defeating Republican incumbent Rep. Leonard Lance in 2018.
10:55 a.m. — Democratic Rep. Sean Patrick Maloney concedes in Hudson Valley race
U.S. Rep. Sean Patrick Maloney, who chairs the Democratic Congressional Campaign Committee, conceded his Lower Hudson Valley district NY-17 to Republican state Assemblyman Mike Lawler. His loss is seen as a major blow for the Democrats.
Maloney’s campaign said the congressman conceded in a phone call. The Associated Press has called the race for Lawler.
Former President Bill Clinton and Rep. Sean Patrick Maloney (D-NY) embrace during a rally at Nyack Veteran’s Memorial Park on October 29, 2022 in Nyack, New York. Photo credit Michael M. Santiago/Getty Images Maloney, who was the first openly gay New Yorker elected to Congress, had a track record of winning in a Republican-leaning district, but the state’s redistricting plan put him in a reconfigured territory where fewer voters know him.
National Republican groups, sensing an opportunity, spent millions on advertisements supporting Lawler, a former executive director of the state Republican party who worked in local government before his election to the Assembly in 2020.
7:15 a.m. — Republicans win several House races in NYC suburbs
Republican candidates for the U.S. House of Representatives notched several wins in New York City’s suburbs, seizing a seat in an area once considered safely Democratic, defending others and appearing on the verge of picking up additional wins in districts the party hasn’t won in years.
By early Wednesday, Republicans had won at least seven seats in Congress from New York, just one less than their current representation in the state’s delegation. They were leading or within a percentage point of the lead in five more races.
The strong showing by Republicans on Long Island came after the city’s suburbs emerged as an unlikely battleground for control of the House. Several closely watched contests remained too early to call Wednesday morning, including the re-election race of U.S. Rep. Sean Patrick Maloney, who is facing Republican state Assemblyman Mike Lawler.
Republican George Santos defeated Democrat Robert Zimmerman in what was the first known congressional election featuring two openly gay candidates.
Democrat Laura Gillen, an attorney and one-term supervisor of the town of Hempstead, was in a tight race with Republican Anthony D’Esposito, a member of Hempstead’s town council and a former NYPD detective.
Rep. Andrew Garbarino defeated Democratic challenger Jackie Gordon. Photo credit Michael Brochstein/Sipa USA Republican U.S. Rep. Andrew Garbarino defeated Democrat Jackie Gordon in a race on Long Island’s South Shore.
Republican Nicholas LaLota defeated Democrat Bridget Fleming in a reworked version of the congressional district now represented by U.S. Rep. Lee Zeldin, who decided not to seek reelection so he could be the GOP candidate for governor.
In the Hudson Valley, freshly minted U.S. Rep. Pat Ryan, a Democrat, is trying to replicate his surprise win in an August special election in a race against Republican Colin Schmitt, a second-term state Assemblyman.
The race appeared exceedingly close early Wednesday morning, but Schmitt nonetheless conceded, saying he hoped Ryan “will do great things for our Hudson Valley families.” The Associated Press has not declared a winner in the race.
Dutchess County Executive Marc Molinaro, is also leading a close race against Democrat Josh Riley in a sprawling new district that runs from the Massachusetts border all the way to Ithaca.
11:49 p.m. — Some election night takeaways:
Gov. Kathy Hochul’s projected victory over Republican Lee Zeldin is the big news in New York tonight.
Also notable is Republican Rep. Nicole Malliotakis’ projected victory over Max Rose. Other New York races to watch are still too close to call.
In Nassau County, Republican George Santos holds a slight lead over Democrat Robert Zimmerman for a U.S. House seat with 74% of the votes tallied. In Westchester, Republican Mike Lawler holds a six-point lead over Rep. Sean Patrick Maloney, the chairman of the Democratic Congressional Campaign Committee.
In New Jersey, Democratic incumbent Josh Gottheimer is projected to beat Frank Pillota for a Northern Jersey House seat.
Nationwide, Peter Thiel-backed Republican J.D. Vance is projected to beat Tim Ryan for an Ohio Senate seat. The showdown between Democratic Sen. Raphael Warnock and Republican Herschel Walker in Georgia is neck and neck with 81% of the vote in.
The Senate election between Pennsylvania Democrat John Fetterman and Republican Mehmet Oz is also extremely close with 84% of the votes counted.
11:35 p.m. Republican J.D. Vance projected to win Ohio Senate seat, beating veteran politician Tim Ryan, Democrat Josh Gottheimer projected to take U.S. House seat in Jersey
“Hillbilly Elegy” author and venture capitalist J.D. Vance beat Democrat Tim Ryan for an Ohio Senate seat, AP projected.
AP also projected Democrat incumbent Josh Gottheimer won a contentious race in Northern Jersey against Republican Frank Pallotta.
11:12 p.m. ABC projected Gov. Kathy Hochul to win New York gubernatorial race, defeating Republican challenger Lee Zeldin
Gov. Kathy Hochul is projected to defeat Republican challenger Lee Zeldin, securing the governorship in the face of an unexpectedly close race.
She will be the first woman elected governor in the history of New York.
Zeldin, an ally of former President Donald Trump who voted against certifying the 2020 presidential election as a U.S. representative, attacked Hochul on crime.
Hochul, who became governor when former Gov. Andrew Cuomo resigned, attacked Zeldin’s anti-abortion record after the issue took center stage with the Supreme Court’s repeal of Roe v. Wade.
Hochul was able to carry the day and prevent what would have been the first Republican governorship in New York since 2007.
11 p.m. — Texas Gov. Greg Abbott defeated Beto O’Rourke, AP projects
AP projected Republican Gov. Greg Abbott defeated Democratic challenger Beto O’Rourke.
This is O’Rourke’s third loss in four years. In 2018 he lost a Senate race to Ted Cruz, and in 2020 he lost the Democratic presidential primary to Joe Biden.
Texas Gov. Greg Abbott speaks during a ‘Get Out The Vote’ rally at the Fuzzy’s Pizza & Italian Cafe on October 27, 2022 in Katy, Texas. Photo credit Brandon Bell/Getty Images AP also projected Democratic Gov. Gavin Newsom will won his re-election campaign in California.
10:33 p.m. — Attorney General Letitia James projected to win re-election
Attorney General Letitia James won re-election by a comfortable margin, AP projected.
James is declared the winner of her race at the Kathy Hochul election party in New York City. Photo credit Juliet Papa James became a well known figure in New York as she investigated sexual misconduct and a COVID-19 death coverup from former Gov. Andrew Cuomo, who was forced to resign in part due to her findings.
She came to national prominence prosecuting several lawsuits against former President Donald Trump.
9:37 p.m. — Nicole Malliotakis wins re-election, AP projects
AP projected Republican Rep. Nicole Malliotakis won New York’s 11th congressional district, beating Democrat Max Rose for a second time.
9:34 p.m. — AOC, Bob Menendez win re-election, AP projects
AP projected Alexandria Ocasio-Cortez easily won New York’s 14th congressional district, defeating Republican challenger Tina Forte.
Gov. Kathy Hochul (D-NY) campaigns with Representative Alexandria Ocasio-Cortez (D-NY) on November 8, 2022 in New York City. Hochul holds a slim lead in the polls against Republican candidate Rep. Lee Zeldin. Photo credit David Dee Delgado/Getty Images
Democrat Robert Menendez also won his re-election bid, AP projected, despite a looming federal investigation that follows corruption charges in 2015.
9:00 p.m. — Polls close in New York, Senate Majority Leader Chuck Schumer wins re-election, AP projects
Voting ended in New York at 9 p.m.AP projected Sen. Chuck Schumer won re-election in New York almost immediately after polls closed, defeating Republican Joe Pinion.
Chuck Schumer named as projected Senate Majority Leader, his fifth term. Photo credit Christian Alexander This will be the Senate majority leader’s fifth term, making him New York’s longest serving senator.
8:50 p.m.– Final touches are going up at New York Gubernatorial candidates’ headquarters
Kathy Hochul’s headquarters for election night. Photo credit Juliet Papa Gov. Kathy Hochul’s headquarters tonight is at Capitale in the Bowery where she will be awaiting election results and deliver a speech.
Members of Lee Zeldin’s party put the final details on the campaign stage. Photo credit David Dee Delgado/Getty Images Lee Zeldin’s party is at Ciprini’s in Hell’s Kitchen.
8:30 p.m.: AP projects Republican Sarah Huckabee Sanders wins election for governor in Arkansas.
Sarah Huckabee Sanders Photo credit Drew Angerer/Getty Images 8:08 p.m. — Gov. Ron DeSantis, Sen. Marco Rubio both win re-election in Florida, AP projects
AP has projected both Gov. Ron DeSantis and Sen. Marco Rubio won re-election in Florida.
8 p.m. — Polls close in New Jersey and Connecticut
Voting is closed in New Jersey and Connecticut. Polls in New York will be open for another hour.
Democratic Senator Richard Blumenthal from Connecticut won reelection.
7:41 p.m. — The RNC sued for an extension of polling hours in Arizona after voting machines caused delays in Phoenix, election deniers seize on issues to sow distrust
The Republican national committee sued to extend voting hours in Maricopa County, which covers Phoenix, after vote tabulation machine malfunctions caused delays.
“At least 36% of all voting centers across Maricopa County have been afflicted with pervasive and systemic malfunctions of ballot tabulation devices and printers, which has burdened voters with excessive delays and long lines,” wrote the plaintiffs in the complaint. “To remedy these consequential violations of Arizona law and derogation of the franchise, the Court should immediately issue a temporary restraining order or preliminary injunction.”
Election workers staff the Maricopa County Tabulation and Election Center on November 08, 2022 in Phoenix, Arizona. Bill Gates, Chairman of the Maricopa Board of Supervisors, said that about 20 percent of polling stations in the county have had tabulation machine malfunctions, where some ballots cannot be read. These ballots, he said, are being set aside for tabulation at the central election center in the evening after the polls close. Photo credit John Moore/Getty Images The lawsuit is asking the court to order polling locations extend voting hours from 9 p.m. to 10 p.m.
Maricopa County officials said about 60 machines were unable to tabulate votes across a quarter of voting locations in the county. Authorities said that 17 of those malfunctioning machines had been fixed by 2 p.m. — 8 hours into the election.
Officials assured the public that all votes would be counted despite delays.
Arizona was a hotbed for election denial and voter fraud conspiracy theories after the 2020 election.
Prominent election deniers and former President Donald Trump have already seized on the voting machine problems to attack the integrity of the 2022 election.
“Here we go again?” wrote Trump on his social media website. “The people will not stand for it!!”
6:56 p.m. — The first polls in the nation close at 7 p.m.
Voting ended in Kentucky, Indiana, Georgia, South Carolina, Vermont, Virginia and Florida closed at 7 p.m. — the first in the nation outside of a few select district in Indiana and Kentucky.
Polls for New Jersey and Connecticut close at 8 p.m. and voting will go until 9 p.m. in New York.
—
Nationwide, Republicans are pressuring Democrats amid backlash over inflation and the economy. Democrats are hoping to defend their thin margins in both houses of congress, often campaigning on abortion rights after the conservative-controlled Supreme Court overturned Roe v. Wade.
Many contests, like the Senate race between Democrat Raphael Warnock and Republican Herschel Walker in Georgia, have garnered national attention and donations as Republicans threaten to take back both houses of congress for the first time since 2018.
Other notable elections include the Ohio Senate race between between Democrat Tim Ryan and Republican J.D. Vance and the Pennsylvania Senate race between Republican Mehmet Oz — better known by his television moniker Dr. Oz — and Democrat John Fetterman.
—
What many thought was going to be a landslide win for current Democratic Gov. Kathy Hochul, who assumed office last year after Andrew Cuomo resigned, has become a tight race against Republican opponent Lee Zeldin, who is running on an staunch anti-crime platform.
“We actually need to hire more law enforcement, mandatory forced overtime,” Zeldin told 1010 WINS just before election day. “Moving law enforcement officers from one beat to another is not the answer, but what we need to do is actually hire more law enforcement.”
Crime has been a contentious issue for Hochul with a focus on New York City, especially in the subways.
“I also tripled the amount of money going toward law enforcement in our budget,” Hochul told 1010 WINS. “And I’m sure Zeldin neglected to tell you that we have a bill on the floor of Congress to increase funding to support the police and he didn’t even show up for the vote.”
The issue of crime is dividing for New York City residents but one voter told 1010 WINS he’s pleased with Hochul’s run so far.
“I’m not as concerned about crime,” the voter said. “I feel like it’s blown out of proportion in the media quite a bit. I think the future of our country needs to turn to social issues in terms of the economy.”
Rep. Nicole Malliotakis Photo credit Pete Marovich/Getty Images Other congressional candidates are facing off in tight races around the state. In New York’s 11th congressional district, which covers all of Staten Island and parts of Brooklyn, Republican Nicole Malliotakis and Democrat Max Rose are up against each other again, a rematch of the 2020 election when Malliotakis took over Rose’s seat in the city’s only swing House of Representatives district.
“I’ve also delivered million dollars to the NYPD for the canine unit forensic equipment, protective gear, so we’re delivering for the men and women who are trying to do their best to keep us safe,” Malliotakis told 1010 WINS about her efforts to address crime in the city.
Rose, however, argues that Malliotakis has consistently underdelivered in her promises to New Yorkers and his plan will better serve the district’s residents. 
Max Rose campaigning Photo credit Michael M. Santiago/Getty Images
“We have got to get behind universal criminal background checks to make sure that the iron pipeline is shut down of illegal weapons storming into our city getting in the hands of the wrong people,” Rose said on 1010 WINS. “Nicole Malliotakis voted against checks in Congress. I would get behind the assault weapon ban, something Nicole also did not support. I would support increased funding in school security funding as well as mental health treatment, two things in addition that she absolutely opposed.”
In the Lower Hudson Valley, redrawn House district lines opened up an opportunity for current Democratic Rep. Sean Patrick Maloney to run for the 17th congressional district seat. His campaign has been focused on gun safety and abortion rights. Maloney is up against Republican Assembly member Mike Lawler who has been campaigning on the topics of crime and inflation.
Sean Patrick Maloney Photo credit Michael M. Santiago/Getty Images
Mike Lawler Photo credit Peter Carr/The Journal News / USA TODAY NETWORK
Over in Nassau County, New York’s 3rd congressional district race to replace Tom Suozzi is a tight, and historical one. Both candidates, Democrat Robert Zimmerman and Republican George Santos, are openly gay candidates, the first-ever political race in the country of its kind.The 3rd congressional district represents parts of Nassau County, Long Island and Queens. Santos joined 1010 WINS and argued that there’s a one party democratic control federal of the New York State governments which has left residents feeling left less safe. Zimmerman, however, sees it differently.
Robert Zimmerman Photo credit Sean Zanni/Patrick McMullan via Getty Images “Let’s remember this election is not about Democrat versus Republican,” Zimmerman told 1010 WINS. “It’s about mainstream values standing up to extremism. That’s really what defines the difference between George Santos and myself.”
Santos, in line with other Republican campaigns this election cycle, is focused on crime and law enforcement funding.
“I have been publicly, since the very beginning of the debate, made very clear of not only my strong opposition of defunding the police, I’ve been advocating increasing funding in the police,” Santos said on 1010 WINS. “And I think that is a very defining or critical point to be made.”
-
WATCH: Mark Cuban Shares 5 Business and Life Lessons
In Best Of, Entertainment, Featured, Guest, Interview, Latest, News Stories, Sports, Technology, The World, Top News, videosBy Joe Connolly and Neil A. Carousso
NEW YORK (WCBS 880) — Mark Cuban, one of America’s best known entrepreneurs, spent an hour with WCBS 880 for a special Virtual Business Breakfast, presented by Dime Community Bank. It was a program filled with lessons on business and life.
Here are some of the actionable and inspiring takeaways from the “Shark Tank” star. The full event is available to watch on-demand above.
1. Always Be Learning
Cuban told the WCBS Virtual Business Breakfast he tries to spend an hour a day trying to learn something new about the many industries in which he’s invested. That can be anything from reading about algorithm changes to Instagram and how that impacts digital sales strategy to new technologies.
“I think one of the easiest ways to get a competitive advantage in any business is just to put in the time to learn,” he said.
The self-made billionaire said the business owner must be the best salesperson in a company because he or she cannot hire someone to know their business better than them.
“I call it home run hiring. And it might be you’re trying to find an employee and you think, ‘Well, if I just hired the right marketing person or the right SEO person or the right salesperson, they’ll solve my problems,'” explained Cuban. “That rarely, rarely, rarely, if ever, works. If you find yourself having to turn to someone on the outside because you haven’t been able to put in the time, not only is it hard to find a person that’s going to solve your problems, but you don’t even know the right things to tell them because you don’t understand the issues that you’re trying to solve.”
He advised business owners to put the time in to learn their business inside out, so they can ask the right questions of a potential new employee.
2. Don’t Overspend on Inventory
“Every entrepreneur does it,” said Cuban.
The Shark tells the business owners he’s invested in on the show to be realistic or they risk spending themselves out of business.
“When they write a business plan, they get in front of their spreadsheet and they start thinking, ‘Okay, if I can sell six of these, this covers my cost here. Twelve of those—no I can sell more than 12, I’ll sell a hundred.’ And all of a sudden, you know, you’ve got these pie in the sky numbers that have no base in reality.”
3. Don’t Rack Up College Debt
It’s not worth it, says the business mogul and father of three.
“If you can’t afford college without taking out a loan, which for many people that’s a reality, I’m a big believer (that) you go to community college for the first two years because introduction to sociology, introduction to accounting, introduction to calculus, it’s the same at Harvard as it is at Richland Community College.”
Cuban told WCBS 880 debt will hurt you more than attending an expensive college will help.
4. Teaching Financial Responsibility to Kids
How does a billionaire teach financial responsibility to his kids? “It’s hard,” Cuban admits, but said it’s important to teach money lessons early.
“(My kids) had to find ways to earn money to be able to buy the big things they wanted because we weren’t just going to buy them whatever they wanted,” he said. “And they also had to understand what things cost and if something was too expensive, they weren’t going to get it.”
5. Practice Self-Care
You may think someone like Mark Cuban works 24/7, but he said it’s vital for him to take mental breaks.
“I always have one thing that I do that allows me to de-stress, and I go shoot baskets,” said Cuban of his passion for basketball. “I have a little basket out in the backyard, I can go to the gym, I can go to the arena or (the Dallas Mavericks) practice facility when no one else is there and just get up shots. And that allows me just to feel good because the sound of the ball going through the net, all problems go away for that second, right? And if I’m missing shots, I’m thinking about my shot. I’m not thinking about, ‘What about this customer?’ Or, ‘Can we add this drug to CostPlusDrugs.com,’ etc.? Everybody’s got to find that one release that they have that just diverts their attention from everything that they’re doing.”
The Mavs and Cost Plus Drugs owner also declared “nice sells” and helps to reduce stress for yourself and company stakeholders.
“Be nice. You know, nice sells. Nice is one of the easiest assets that you can have in your company. And when you have a culture of being really nice to each other and nice to customers, nice to prospects, things work out a lot better.”
See more tips for business and life success from Mark Cuban on the WCBS Virtual Business Breakfast, presented by Dime Community Bank. The hour-long program is at the top of this page.
-
How to Win at Business featuring Mark Cuban: WCBS Virtual Business Breakfast LIVE, sponsored by Dime Community Bank
In Best Of, Entertainment, Featured, Guest, Interview, Latest, News Stories, Technology, The World, Top News, videosWednesday October 12 – 10 AM EDT
Streaming at WCBS880.com and @WCBS880 on Twitter, Facebook and YouTube
By Joe Connolly and Neil A. Carousso
NEW YORK (WCBS 880) – Join WCBS business reporter Joe Connolly LIVE for a discussion with Mark Cuban, the self-made billionaire entrepreneur and owner of the NBA’s Dallas Mavericks, on Wednesday, October 12 at 10 AM ET.
You will learn how to capitalize on new opportunities no matter the economic climate. Cuban will also answer your business questions, which you can submit in real time by commenting during the livestream on our Twitter, Facebook, and YouTube pages.
Cuban will opine on what New York’s businesses must do to be competitive and thrive post-pandemic. We know the outspoken shark will be brutally honest when it comes to sales and marketing strategies and economic policy!
Mark Cuban started his first business at 12 years old by selling garbage bags door-to-door in the Pittsburgh suburb where he was raised. He founded and sold a software company to CompuServe, a subsidiary of H&H Block, in 1990.
Mark Cuban Photo credit ABC/Christopher Willard His next venture was evolutionary. He helped launch one of the first sports streaming networks, Broadcast.com, where fans could listen to niche sporting events in other markets online. Cuban always believed streaming would surpass television and saw growing demand for those who wanted to watch games at their desks. The serial entrepreneur sold Broadcast.com to Yahoo! in 1999 for $5.7 billion.
Forbes ranks the Mavericks owner #227 on the Forbes 400 Richest People in America list with an estimated net worth of $4.6 billion.
Cuban is one of America’s best-known investors on ABC’s “Shark Tank” where he has inspired future generations to pursue entrepreneurship.
Mark Cuban evaluates an investment opportunity on “Shark Tank.” Photo credit ABC The shark recently founded Cost Plus Drugs to add transparency to the pharmaceutical industry by communicating drug costs to patients who pay a 15 percent markup on the manufacturing cost of their medications, plus a $3 pharmacy fee and $5 shipping charge. Cuban hopes it will help lower national drug prices of lifesaving medications. He even encourages competition to accomplish that larger goal.
On the WCBS Virtual Business Breakfast, sponsored by Dime Community Bank, you’ll come away with inspiration and actionable ideas from Cuban to grow your business and pursue your entrepreneurial dreams.
Don’t miss out on this once-in-a-lifetime opportunity to participate in a conversation with one of America’s most popular entrepreneurs!
