[Chicago Slices raw: Chicago Board of Trade #1]

PATRICK WALSH: Chicago Board of Trader; wake up with, get ready, and drive to work with him. Shots of men in the pit. Con't on 120.

00:00Copy video clip URL Footage continues from 14092. Angel Correa is in his UPS truck returning to the distribution/sorting center. He answers questions about driving a UPS truck: it’s not hard, it’s a 5-speed and goes quick but he wouldn’t put it to the test. He explains the drop off process: air doc first to unload next day and second day air packages where they’re scanned and taken to the airport. He talks about the good feeling from doing a good day’s work.

02:10Copy video clip URL B-roll of fellow employee unloading his truck. B-roll of Correa waiting. He pulls up and tells his coworker that the video will be used for Chicago Slices. Correa steps off his truck to unload the air packages.

04:33Copy video clip URL Correa explains that when he’s not working he is spending time with his 5-year old daughter.

05:18Copy video clip URL Stop/re-start digitizing. He talks about the realization of responsibility one has after becoming a parent. When asked how many UPS drivers are in the Chicago area, Correa guesses the number is in the hundreds of thousands.

07:40Copy video clip URL Correa pushes his cartload to air shipping conveyor belts and sees that they are checked in. B-roll of a worker scanning the packages.

08:37Copy video clip URL Correa is back in his truck in the distribution center. He points out the dock where he used to work when first starting at UPS. B-roll of the dock where Correa once worked.

10:54Copy video clip URL B-roll of the packages on a conveyor belt. Correa explains that dock loaders unload all the vehicles . He points out the boxes to be loaded for next day delivery and how the packages are all organized on the dock.

14:17Copy video clip URL Correa comments that UPS has been around for 86 years, first as American Messenger Company and then, starting in 1919, as United Parcel Service. He says the first package car was a 1913 Model T Ford.

15:53Copy video clip URL B-roll of UPS trucks lined up at the dock. Creadon signs off and gives audible notes to the editor of certain shots to use and a scroll listing UPS shipping factoids and stats.

16:38Copy video clip URL B-roll of various UPS posters and safety signs displayed in the distribution center. B-roll of a conveyor belt with packages.

18:48Copy video clip URL Footage of Charlene Dixon inputting misplaced or inaccurate shipping information. She says she has to update or correct about 80 packages a day. Creadon asks her if she’s ever come across a package addressed to her. She looks at him funny and says no.

19:57Copy video clip URL Continued b-roll of various safety signs.

20:06Copy video clip URL Correa shows how he downloads all the information from his DIAD onto UPS’s main computer. He proceeds to sign out.

21:05Copy video clip URL Correa locks up his cart for use tomorrow.

22:17Copy video clip URL B-roll of a safety poster.

22:35Copy video clip URL B-roll of packages on a conveyor belt.

23:33Copy video clip URL B-roll of fleet of trucks lined up at the dock.

23:49Copy video clip URL Correa exits the building, points out where the trucks are fueled. He says the end of a day can be tiring, but your body gets used to it. He says he loves what he does and feels fortunate to work for a good company and a good group of people.

25:26Copy video clip URL New location. Patrick Walsh is in his bathroom early in the morning getting ready for work. He explains that he’s up at 6am, he works at the Chicago Board of Trade and starts precisely at 7:20am. He drives off to work with the videographer in the car.

27:17Copy video clip URL Walsh explains the various jobs at the Board of Trade. His job is to aid in the execution of a trade. He explains the process of how he aids the execution. Others support the back office ensuring trades made the previous day are accurate. He explains that if someone wants to trade bonds and securities they must go through someone on the floor at the Board of Trade. It’s like a big trading show, the difference between someone going to a friend’s house to trade baseball cards and going to an organized convention of baseball card traders.

29:54Copy video clip URL Walsh says he works on the floor from 7:20am to 2pm. Then, to be an effective speculator, to make bets on where the market is going, he must spend time researching.

31:34Copy video clip URL Walsh explains the hand signals used on the floor: hands in mean buy, hands out mean sell. Quantity is defined by use of fingers on one hand against various parts of the face: for a quantity of 1-5 the hand is against the chin; 6-9 the hand is also against the chin but pointed sideways; 10-50 the hand is against the forehead; 60-90 the hand is at the side of the head; 100’s are communicated by extending the right arm out in front of the body and extending the number of fingers that correspond with the quantity: one finger for one hundred, two fingers for two hundred, etc.

32:48Copy video clip URL B-roll of driving along the Expressway. Videographer explains to Walsh the value and purpose of b-roll footage.

33:48Copy video clip URL Videographer has Walsh again explain and demonstrate the hand signals. Walsh also comments that trading is an unforgiving business. If you mistakenly buy more or less than the client asked for you often will be made to stick to that price which may mean losing money. He tells a story of recently advising one of his clients to buy bonds at a certain price level. Suddenly the cost of the bond changed, people wanted to pay more for the bond than they did a few seconds ago. Walsh called back his client and told her she would have to pay more for the bond than he had advised a few seconds ago. He said the woman was understanding and agreed to pay more, but often clients are not as forgiving and will insist the trader make up the difference in price out of their own pocket.

37:10Copy video clip URL Walsh says the one thing he would change about this business are the hours. By 2pm a person is exhausted from standing 7 hours.

38:04Copy video clip URL Video drop outs. Stop/re-start digitizing. Walsh talks about the fast paced environment working on the floor, but he likes the craziness. It’s like high school in the sense that you see the same people sitting in the same seat each day. But after a while the job takes its toll on the body. Standing nearly 7 hours a day on the crowded floor is like being at the bottom of a football pile for 7 hours. Those people get paid well, Walsh says, and the feeling of making a trade and making a profit is unbelievably exciting.

42:28Copy video clip URL They arrive at the Board of Trade and Walsh gets out of the car. The videographer then drives through Chicago shooting b-roll of traffic and pedestrians as he drives.

44:02Copy video clip URL Videographer leaves a recorded message for Nathan relaying his shooting agenda. B-roll of the Chicago Stock Exchange building, Congress Parkway, and the Chicago Board of Trade.

45:44Copy video clip URL On foot the videographer approaches a news stand and buys a paper, shoots the Chicago Tribute front page for the date: Thursday July 22, 1993.

46:38Copy video clip URL Inside the Board of Trade, videographer shoots a sign illustrating the hand signals used on the floor, a sign showing a diagram of the floor at the Board of Trade, and workers waiting on the floor for the 7:20am bell  to ring.

49:38Copy video clip URL Walsh notes that it’s 7:16am, people are getting ready for the 7:20am bell, getting ready for action. The videographer travels up an elevator.

50:27Copy video clip URL Shots of the floor and all the traders getting ready. A clock reads: 7:18:20. B-roll of the floor is packed with people.

51:50Copy video clip URL B-roll of the clock: 7:19. In a few seconds the bell rings and traders immediately go into action with hand signals. Various close ups and wide shots of the action.

53:50Copy video clip URL B-roll of Walsh in action, on the phone, trading.

54:19Copy video clip URL Video drop outs. Stop/re-start digitizing. Continued b-roll of the trading action on the floor.

1:01:18Copy video clip URL B-roll of the electronic financial display board.

1:01:48Copy video clip URL B-roll of the trading floor, hand signals, yelling.

1:02:12Copy video clip URL END

 

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