>> happy new year. jakarta and indonesia. welcome to a special edition of "lunch money. congress and action. what you should not look or were two in 2014. 2013 the best of aykroyd, buffett, and why you should not take on the selfie. in switzerland, the kind of security you get with a swiss bank account, not just tax-free money.

five nfl coaches joined the nation's unemployed. another new year in new york. the ball will drop in times square. >> people always say go out with a bang on the but i do not think this is what they meant. two trains collided in eastern north dakota yesterday. no one was injured but the massive fireball was the resort result. first, a grain train he railed, hitting another train carrying crude oil going the opposite way on an adjacent track. police have advised residents to

evacuate their homes because of fumes. there are a lot of trains carrying crude oil in north dakota these days. it is one of the nation's new and plentiful sources of oil. the train that cause the explosion was carrying it from boston to minnesota. the fourth major do braille meant in six months and likely to recharge the debate over the safety of the north american energy boom. the number of crude oil hauled surge from just under 11,000 in 2000 nine to a projected 400,000 this year. the company that runs the train is burlington northern santa fe. that is owned by moore and buffett's berkshire hathaway. he is leading the world know he is betting on crude oil ports. phillips 66 for full stock.

this helps the product flow through pipelines more quickly. this only the latest of investments. it accumulated more than $4 billion stake in exxon mobil and berkshire hathaway added holdings and the national oil embargo in suncor energy. if foreign buffett is right, one of north america's a gift and most controversial could play right into his hand. the keystone pipeline might as well be a line in the sand. environmentalists and lawmaker hosts -- lawmakers. >> a 2000 mile tunnel -- funnel. if the five-point free billion- dollar pipeline is approved, what does that mean for jobs? it will create 42,000 jobs during the two-year building phase. almost 4000 are pipeline construction jobs. the pipeline only expect it to create 35 permanent jobs. a recent report forecasts a razor thin profit for oil

companies. the recent shale boom created a glut of oil in the united states, dragging down prices. if oil can make it to the gulf coast through the pipeline, it competes against the mexican crude benchmark projected at $89 per barrel. if it stays in canada, it is $69, $20 difference. the $20 premium does not necessarily mean big profits. it is some of the most expensive to produce. it needs to fetch at least $65 per barrel to break even. add in transport costs. the profit margin drops to just five dollars $.50 per barrel in the mexican market in 2015. if the pipeline does not get approved, who are the winners and losers? transcanada stands to lose a lot. the company has pumped $2.3 billion into the project. companies like suncor energy and conoco phillips could face hurdles getting their product to market. the next best option is

railroad. 150,000 oils -- there'll -- barrels of oil pump to canada. rail is much pricier than the pipeline. that means investors like war and buffett could win big. the longer the pipeline gets pushed back, the higher the demand for rail. >> megan hughes safety is still a big factor. even with yesterday accident in north dakota and the earlier you ram it -- derailment this year. railroad say 99 .97% of hazardous material shipments reach destination safely. think odd. keystone has released one issue that will have trouble making it through washington next year. -- thank god. the best of 2013. why you should not hate on the selfie. before we had to break, across the atlantic some new year's parties are kicking off.

biking style. 45,000 took to the streets of scotland for a torchlight procession kicking off new year celebration. torches lit up the roofs led by vikings, and drums. a fireworks finale also. ?

>> 2013 was a guest -- rough year for washington, but i guess it is kind of like that every year. the nsa spying scandal, the government shutdown. might even be a year that both parties want to forget. even president obama is moving forward. >> president 13 -- 2013 could the break year through for

america. we all know there is a lot more we will have to do to restore opportunity and brought base growth for every american. that will require action. >> i think we are all ready for action from congress. get companies hiring. leave money in the pockets of people who earned it. there are a bunch of tax breaks that expire tomorrow. >> you have the individual issues. two hundred $40 right now. that will drop to $130 as of tonight. charles schumer says this could affect over 700 thousand new yorkers. a huge deal from the individual side of things. the research and development tax credit, something that intel on the bristol miles squared --

bristol-myers rely on. tax credit for veterans. each efficiency tax credits. those are all gone tonight as well. back to the individual. private mortgage insurance write-offs. commuter benefits will really have an impact. all of that on tonight. when congress will come back to this issue is anyone's guess right now. >> these programs are so important we will see action to keep them in place. >> the hard part here is you are not going to get dave camp, the house republican chair of ways and means will not give up on reform. he really wants an opportunity to do it.

so that puts another delay on it. here is another big issue, how do you pay for this? 52 point 2 billion annually. they have to be paid for. not a lot of money but congress can find for this. >> we may not be able to pay for it since we still have a big budget deficit. democrat and republican still standing on opposite sides of the room in the congressional bans. republicans still bickering among themselves. >> the bickering is hardly over. this is a fight that will persist in 2014. >> republicans and all-out civil war should provide an opening for the president. what can he do to hit the ground running in 2000 14? >> he needs to knock the ball out of the park. it will be a laundry list of proposals that will probably go

nowhere. the key for the president is not obamacare. that was the key in the year that is about to end. the key is whether the economy really expands. the chances are growing the economy could grow to the upside. >> what can't he see due to move things forward? we gather in this -- industry and world leaders to get advice. the main theme is can't we all just get along? >> i am not an expert on relationships but i know if you spend all your time in relationships talking about the status of the relationship it is doomed.

you would be better off having a cream soda, if they could just rant down the warfare. i think that will help a lot. when i think about washington what i think about is leadership or a lack there of what the leaders do is bring people together. when i look at compromise tom if that is what appears to be missing. leadership that says it is not my way or the highway but a is you. >> people want to actually accomplish something and work with the president -- work with the president in order to solve the budget crisis. the deficit so the own people have confidence in the way the government works and so internationally the respect is returned. >> most people have a stable and

predictable budget outlook. the every two months crisis approach causes an enormous amount of uncertainty. >> coming up, we will show you how warren buffett's berkshire hathaway rules everything from your car to medicine cabinet. plus, pop the bubbly. ringing in the new year with the ultimate party drink, champagne. >> happy new year australia. one of the first cities to ring in the new year. war than one million people crammed around the harbor. unlike here the city rang in the new year and balmy 70 degrees.

>> as 2013 draws to a close we are taking a look back at the favorite highlights of the year. first up, bloomberg -- bloomberg businessweek corner dan aykroyd to find out why trading places is the greatest is this movie of all time. >> everybody knows that trading places, which turned 30 this year is the classic american comedy. i would say it is one of the best movies american made about american business. >> i cannot think of comedies

about american business that have been successful. fax when you first got the script on the did you know what was happening at a financial level. >> i lived downtown and near the world trade center. i understood enough about it. >> what i did not understand was that in the pits mechanism of trading. i did not understand the response system. when i got in there with the guys taking the orders and learned about it, we became infected with the enthusiasm and adrenaline and believed we were there. you can see us in the movie shouting and out. we were trying to replicate the theory and frenzy that happens

and that setting. >> that is entirely replaced by terminals. >> exactly. >> it is very complex at the end. can you describe to me in plain english why your character and eddie murphy's character tour lose? >> there was a short taking place in orange juice futures. we were able to get information about what they were doing. we were able to work the other side of the trade. >> they were trying to corner the market because they were operating under false information. >> yes. you have to know what you are doing to operate and that game. >> warren buffett's berkshire way ash berkshire hathaway looking good.

in your life in ways you may not even realize. from the heinz ketchup to the geico insurance protecting your motorcycle. >> i deeply regret totaling that bike in 2013 but do not worry, i

♪ ♪ ♪ ♪

>> i deeply regret totaling that bike in 2013 but do not worry, i got a new one. love them or hate them, there is no escaping the selfie. they are everywhere. who can we blame for the rise of it? >> i do not have a problem with the selfie. it is a natural human instinct to capture your self. this is how artists use to survive. the walls of the met our coated with self east. -- selfies. it is possible. but if we're going to indict ourselves for that, we have to remember the role of the industry. twitter makes to post a selfie when you sign up.

if you do not have one on facebook, it will remind you until you post one. these are not social clubs, they are companies and need you to post one so they can make money. this was taken at my wedding. these are just selfie ways to imply that i am too cool. you cannot be a part of twitter or facebook without making some kind of a decision about what you want the world to think you like to be seen as. is that even grammatical? these companies cannot keep me and everyone else selfiing all the time. when i am done with this video, i will definitely put it on

facebook to see what my friends from high school site. our narcissism is this currency that keep sheryl sandberg happy. i do not think the rise of it has anything to do with the klein of insanity. it is working. >> here is one business strategy that has worked for decades until the iron rest got involved. taking you inside the swiss think fault. five nfl coaches joining america's unemployed. we will go through the cut list coming up in sports. ?

>> welcome to "lunch money." i am matt miller and four adam johnson. today is moving pictures where the video is the story. the cleanup has begun in western australia after cyclone christine uprooted trees and caused power outages and flooding. it battered the storm -- the west coast with wins. it later weakened as it moved inland and traveled south. >> it is hot in argentina. when us eras has set a record for the warmest december. people are not happy about it. -- buenos aires.

critics say failed energy policy has made it unprofitable to upgrade the power grid. further south it is bitterly cold. passengers on board the standard stranded research ship spent the evening packing snow after three ships failed to make it to the stranded ship. swiss banks have until today to join a u.s. disclosure program that cracks down on untapped assets abroad. at least 35 banks have signed on to avoid prosecution. the bigger banks like credit suisse are already under investigation. if you want to know what it is like to store something important or expensive at the credit suisse headquarters, you will have to go underground.

>> the groundwater of direct. 18 feet below lake level. this ball has 3500 safes. we have it in 10 different sizes. the biggest looks like [inaudible] the smallest is 200. the largest are at 1000. what you need is to have a bank account with us. if you have a bank account with us, you are capable to open a safe. if you want to come to your safe, either you have the key with you or deposited over here but you do not have to make an appointment.

people like to keep documents or jewelry inside. the longest was three days in a row. whatever their business is inside, they can stay however long they want. >> one thing that even a swiss bank cannot keep safe, do the job of a pro football head coach. it is more than just a title, just ask archie manning. unless you have not heard, it is new year's eve. bottoms up on the champagne. we will tell you how it is made later on on "lunch money." the champagne and sake already flowing in asia. here is a taste. ♪

>> this is lunch money." i am matt miller. in sports, it is black monday in pro football. not because of profits. four coaches were fired, including mike shanahan and the lions, buccaneers and cleveland browns head coach was fired late

sunday night. the theme? teams want more wins. past success is not a guarantee of future results. mike shanahan one two super bowl for the denver broncos in the 1990s, but after four seasons with the redskins, that was the last role. washington it with a $36 million salary cap penalty going into his third year. >> what i thought something that we had to do was get defensive players. when we got the $36 million hit, we were not able to get the players we were wanting to get. we had a lot of people targeted in the third year. we were still able to win the nfc east. i was proud. anytime you are the 20th ranked defense in third in special teams, you usually do not do it.

we were able to overcome battles and find a way to win. we had debt in the special teams and dept in defense. tim schwartz has a 29-51. -- jim schwartz. >> we have fallen short of the expert nations of the ownership. those expectations are simple, and a very strongly want to bring a consistently winning football team to the fans of the city of detroit. we fell short of that. the decision made today was a direct decision from falling short of the goal. by frankly we did not win enough of those games. the search has already been done for the next head coach should of the lions. >> tampa bay cleaned house.

getting rid of the general manager as well. one coat allegedly on the hot seat who kept his job was rex ryan. even after a rough start, he has been with giants in the -- in 2009. the head coach is the backbone of any football team. it you do, here is rj manning. >> i know sometimes we talk about coaches and we talk about the real successful guys out there. i think the junior high coaches, high school coaches. i have always said i was fortunate enough to have a father who was influential on us. coaches have more influence and more impact, especially on young

men than anyone else. >> do you remember a particular coach? >> i had a lot of them. we lived by the school in this rural town in mississippi. i was neighbors with these people. my dad was nice to them and their families. so many things to learn. more than anything, coaches have to be teachers. they have to have leadership ability. i think, if i have been a good leader tom i think it is because i learned it from those relationships. i think the main thing underappreciated ike -- about coaches is the hours they put in.

not many successful people just work eight hours a day. people have no idea the hours that coaches put in. some of them 18 and 20, the point of exhaustion because preparation, preparation. every game is so important. they work extremely hard. >> one guy who does have a job today is tim tebow. he is joining espn in the sec network as a football analyst. he won two national championships in the heisman trophy. he was out of the nfl after being cut by the new york jets and new england patriots. he says he has not given up on playing quarterback again in the nfl. he may be celebrating, and so should you. how about heading to times square where you will be surrounded by a million of your closest friends? we will tell you about the history of times square coming up next. plus, not sure what champagne to buy for tonight? we will break down the different kinds for you coming up next.

before we had to break, and new year's -- and new year's tribute to one of the more unique members of the bloomberg television team. >> 3, 2, one. for those of you on radio, i have to eat this morning. ben franklin kind of looks like the gross. >> tom does not smile very much. there it is. >> spongebob could help. >> a bunch of guys from russia. >> where did you get that umbrella? that is not an official bloomberg umbrella. >> where in the world is carmen san diego? >> i know you have been threatening to grow a playoff eared. -- beard.

>> i can't being to no end. growing strong. spring became a summer. who'd believe you come along. sweet caroline ? ♪

>> happy new year's eve. in just a few hours about one million pounds of confetti will rain down on times square. we spoke to the president of the times square alliance. he told us how the ball dropping business got started. >> it has only spent a mixture of business and technology. the cutting edge technology was 25,000 iridescent labels. it is always a mix of old and new innovation and cutting-edge technology.

>> what happens to the ball after it is dropped? >> it used to hide in the basement and get taken apart. it stays up on the pole year- long. >> this is just part of the ceremony. supreme court justice sonya set of mayor kobe there. -- sonya sotomayer. >> she writes about how dreams give us the will to aspire to bigger and better things. new year's at its best is about taking a moment and thinking about where we want to go you there for ourselves or the world. having a guest like her, new yorker who has been through tough things but keeps going, that is about. >> what about security? >> we have nypd for the event. we feel they are the best security force in the world. >> you expect one million people? >> one million people in and around times or.

one billion watching worldwide. >> various amounts of colored confetti. can you give us -- an idea of the detail. do you cut this all your self? >> it is about a ton of confetti. the confetti is the symbol of what new year's is about, celebrating the people we love and the good things in life, no matter how crazy the world is. taking a moment to look back in terms of where we have been an looking forward to a sense of hope and starting a new. >> we have been reporting have restaurants have changed prices because there is a big a man's. do you ever get feedback? >> of course there is supply and demand. it is a great place to be for new year's eve. people pay a

premium to be able to near the energy. to be able to be inside and have drinks with friends. >> talking about expensive new year's eve party, and ruby tuesday's selling tickets for as much as $13.95. they are a few steps away. applebee's is selling spots for $800 for a couple. these are casual dining restaurants. there is a big chance you will be drinking champagne while you celebrate tonight. pimm fox got a taste rum a company making bubbly or more than 200 years. >> not only a champagne from a specific lace but a number of rules govern what is in champagne. it has to have normally three specific rates. for dominantly chardonnay.

when we talk about others and that those are completely different grapes altogether. lex how do you get it to be so bubbly? >> it is a complex, call process. champagne we actually track -- trap bubbles in the bottle. we trap them in the bottle in which it will be sold. that is different from other things that are made in a big tanks where they pressurize the tank until the wind starts to bubble. in champagne the only way to get the bubbles is to keep it under pressure in the bottle from anywhere from two years to 15 years. >> you brought some bottles with you and i was wondering if you could explain the differences. >> it has been around for 200 years.

we have a number of different styles of champagne. this is the non-vintage ruby. this is a huge variation of what can be in the bottle. when you say champagne, most people expecting exactly what this bottle has in it. or dominantly chardonnay. light, elegant complete party style champagne. this is 100% pinot noir. very high quality. coming from the very highest vineyard. specifically select it. blended and put into the bottle and aged in the bottle for about four years. we develop this prior to being sold in the market. likes it does not matter how often your new year's eve will be, it will not be as good as this guys. ♪

>> it is approaching 56 past the hour. we're on the markets with the final edition of 2013. let's look at where stocks ended the year. the s&p 500 ended the day for tens of 1%.

the dow finishing the year up past 29%. of 38%daq is the winner on the year and closing at about a 13 year high. a very happy year to date. we also saw stocks beating the bonds of this year. not -- definitely not a good year for gold. the 10 year yield actually went above 3% and stayed there. what did they predict?

he was still off by more than 200 points in terms of what he predicted. a lot of very strategists were optimistic but not as optimistic that we we get the kinds of gains that we got. this is about 18%. gina martin adams remained a bear throughout the year. where are we going? we will see more games they just will not be quite as large. the highs projection we have is from michael. he is looking for a year and target of 2100. that is more than a 10% gain here. would represent a decline of about 5%. they raise the target to 1975

which is more in line in here with a gain around 6%. the consensus seems to be that we will see gains but they will be much smaller than we had this year. heard from hillary cramer. she is predicting a correction sometime. she so we are overdue for that. she is not alone. she said it has been quite some time since we had a pullback of any kind of magnitude. globe, theund the japanese market helped in large markets by a decline in the yen versus the dollar. if you look at some of the worst markets been the emerging market world, you saw a lot of pain in the emerging markets.

we saw a drop in a lot of the commodities like brazil. are some of the highlights from this year. i hope everybody has a wonderful new year. i will see you in 2014. . .

♪ >> live from pier three in san francisco, welcome to the early edition of bloomberg west. we cover the technology companies that are shaping our world. our focus is technology and the future of business. let's get straight to the rundown. apple going to war with its corporate reported -- corporate appointed monitor for meddling in apple's business. netflix ringing in the new year with some big changes, rolling on a new