>> there is a lot of talk about corporate loan defaults and china. because of that, they will most likely decrease the lending and the capital that is available. you may see some of those banking restrictions that start to come back up a little bit. people are divesting out of copper right now. he supplies are already quite big over in china right now. >> thank you so much for your perspective. we are on the markets once again in 30 minutes. "market makers" is up next. ♪ >> international women's day. we will talk to women who offer ends eyring -- inspiring stories. most importantly, they leave some of the biggest companies in the world. we will hear from top women in finance, media, technology and startups. all of them inspiring change in leading global business. >> welcome to a very special edition of "market makers."

>> not only is a special edition of "market makers" but today i am stephanie's sociology experiment. >> for one special day he gets to be the token male. we are going to focus women across all attacks takes, sports, and so much more. it.tick around for all of we're going to begin with the news. these are the top business stories from around the world. let us start with jobs stay. encouraging news from the labor department. they added more from last month. wouldn't it subdivide that was in. bouncinghe economy is back. january's job gains will provide up wher more. the unemployment rate rose. we will show you right now how markets have responded. the s&p 500 ready much unchanged. it has been.

perhaps you'll see another record day for u.s. stocks. yield picking up. the tenure note was yielding 2.82%. the highest since the third week in january. a 64-year-old physicist is denying a report that t is the father of it going. have unmasked him. when asked, he told the reporter "i am no longer involved in that. it has been turned over to other people. misunderstood. he never even heard of bitcoin until last month. >> let's get right to our first guest. one of the most powerful women in finance. marion lake. welcome. we are having a big job. day job is full. you are also involved in jpmorgan woman on the move tour. you are talking to women at all

levels inside the bank about their job. what is the business case for that. >> there is loads of research that show that the companies generally fall back up. even if they do not, when i am on the road, i am seeing investors and clients and our employees. to spend some time having a jerk dialogue is a valuable use of my time. we have been year with 4000 women. change.aking positive >> you're one of the most important people at the biggest bank in america. how do you decide how to balance your time. how much should you invest in initiatives. >> it is all part of my job. i have to balance her every day.

managing our people is a critical part of managing this in the long run. i want to dedicate time to it. >> how is a.p. morgan leading to said thes pure wool jpmorgan -- said jamie dimon, employees do not seem to be walking out of the door. your stocks are doing so well. how are you making that happen? >> if you ask customers about the industry, i understand that. it'll catch up with reality. they like as. they would recommend us. clients andng our our community transaction by transaction everyday. getho is responsible to america to start liking thanks again? we do it is grassroots. it is at the customer engagement

level. we have a role in politics and in reform. >> has that required a deliberate effort to avoid a bunker mentality? we know a lots of bankers. they will tell us, and they do, that the negative press can really get to you. >> there is obviously an impact. and see thee paper news. we lead by example. we've always had a culture at jpmorgan of focusing on the negatives and fixing them and resolving them. that ourh all of business is performing exceptionally well. our clients are very happy. >> if you look at fixed income is that part of

it? >> it is part of it. if you look at january, you're expected to be strong. we do not see it that your. it was equities. it was a cross. there is not one reason for it. we have no reason to believe we are not going to down back here it you said there's reason to be hopeful and the second quarter. a market seems to think this is a temporary disruption. we will see. >> i was to ask you about your job. you have been chief financial officer for a little more than a year. how is the job at jpmorgan and perhaps at other large banks, and maybe others, what was it like before the crisis and what is it like now? >> in many ways it is the same.

talk about jpmorgan, we look at the cfo role -- cfo role as running the business and driving change. if you think about today with capital in regulation and control being so front and center, navigating the complexities has thrown the organization to be a bit of a nerve center. regulations are front and center, what is the messes to the rest of the bank? why do i want to work at a firm like jpmorgan. the grass is truly greener on the other side. invest in continue to our businesses. we have the best hand. we will win. >> at the end of the day, the power of our platform has power.

we have had strong results. we will emerge very strong. keep being aggressive. >> when you say "we will win" what do you mean? >> there is unprecedented levels of change. everyone is working through them. believeevery reason to we will emerge after this in the same position we came in. makemie dimon continues to the argument that clients want one bank. is that really true? don't clients want best execution across every single rod at? >> the best way to measure it is client vote with their business. we are getting this across. clients are telling us we like our models. it is delivering this. we show this for two years

running. ofare generating $15 billion incremental expense energy because of the platform we have. bank would not be the way it was without the record. 80% of the customers use treasury services. this is managing $19 billion. it is pervasive across the organization. >> it sounds like they seem to be leaning out. you're not necessarily getting bigger. are you influenced by what they're doing? at the end of the day, our global reach is a competitive advantage. we believe in this. same investor day you made reference to, jpmorgan' forecasted that it could be baking $27 billion in earnings a year in four or five years.

some wonder why it is not higher. what is constraining that? how much of a permanent cost has the post crisis environment place upon jpmorgan be on the one-time legal settlements? to clarify. that is not a forecast. it was a simulation. it was dictated on those things we are certain of. imagine this. do not read into that. this is significant. if you look at that chart, we showed $2.5 billion and net income. it is the derivatives market reform. this is an awful lot. it is somewhat permanent. it provides the advantages. in your words, what is the

art of the possible? orwe did not imagine forecast what market revenues would be doing in four or five years time. we expect them to be growing and us to be growing. this was not embedded in the forecast. we're makingts normalization of rates and costs and not about the core organic business growth. >> if that was the low end, what with the high end be? some ways compared to others, regulation is your friend. massiveafford a compliance. you can afford to think of all these changes were other banks kent. -- werelation a benefit other banks cannot. is regulation a benefit? >> let's face it. we need healthy, functioning

competition in the local community. we are not wanting to hold them at the same standards. we want them to do it. a banklso may be need ceo as a woman. thank you very much for joining us. of j.p. lake is the ceo morgan. the gilthe ceo of group. >> we will talk to one of the editors up next on "market makers." ♪

to our veryack special edition of > "market

makers." putting you the shopping memories behind you. they are offering designer does it you can purchase on the cheap from all the comfort of your own home. i got to speak with the ceo recently and asked her if glossing up a sample cell was really necessary. we translate their story in an elevated way. when people come they have a sense of style. our goal is to push them an injured deuce them into newsham. making sure it is beautifully shot and styled nicely. >> in order to have partnerships with brands, do you have to offer them more than just a sales outlet? >> that is one of the magical parts. it is a brand elevating experience. they say you shouldn't better

than we do. we take a lot of pride in that. that areeople passionate about innovating and telling a story. there in the sleek creative. it helps our customers find what they want and the rand to reach this young, affluent audience. where is the business case to do that? it is such an extent to have -- and expense to have photographers. >> we are blessed prophet ability. we did a beautiful job. we also make sure we are running the train on schedule. >> what about the consumer experience? chanel.oing to what about the consumer that does not get to have that experience in a store, they lose that? the young,graphic is affluent audience. they did not have time to be in traditional department stores. they are not there on the

weekends anymore. when designers say they want to do this themselves? >> it is competitive for sure. a brand.ndle this for there are so many brands i talked to that it is not their primary job to think about digital marketing and search marketing and e-mail and social investment. that is not what they do. they turned to gilt to be a provider and introducing them to new customers at a great value in the digital world. do to send out the fact you have more competition than when you began? you are the only show in town. >> a lot of competitors entered. we see now that some of the competitors have folded. it is nice to be the biggest player. the flipside as we can never be complete. search,i was doing the openings was for an ios engineer.

what is going on? is the heart of fashion meet technology. we have a big, incredibly brilliant engineering team. they are created. day, the a sale every teams are working together. they're working with the merchandise team on how should this change or there's new capabilities that the mobile engineers are thinking about. >> do you think they will have it online? >> there are things we are starting to do that is pacific lee for gi -- specifically for gilt. we know the trends of that are really important for customers. we're just letting to think about that. >> everyone is talking ipos this year. of buzz a huge amount

on the street that this is the year we could see the ipo. they areked michelle just focusing on the business at hand right now, selling lots of products. i was in that massive warehouse last week. they have a lot of work to do. is this ipo coming? is it coming soon? my guess is yes. >> the window is wide open. you have a business ready to go public. now is the time. >> when we come back, another great woman. a woman that keeps nascar on track. we will keep the international speedway ceo. that is coming up right here on "market makers" ." ♪

likes it is time for bloomberg to go on the market. taking a look at u.s. stocks, two big scenes in the markets. there is a jobs report for the month of february that showed an increase in jobs for the month. it positive revision for january. he focuses on the gain an hourly earnings, suggest inc. that this is back in can perhaps help the economy move along. you do have concerns over what is developing in ukraine. the plansment saying for a referendum on march 16th on crimea becoming part of russia will not stand. does.l see how that the s&p 500 is at a record high. at anday this was all-time high as well. about five years ago today, they began the bull market run. it has been a ride. in terms of the nasdaq, it is under a bit of a pressure.

we are also seeing some selling of the safe havens this morning after the jobs report your he has seen the yen weakened to almost 104. -- report. we have seen the yen weaken to almost 104. he will continue to fall to 1335. risky asset and a sellout from the safe havens. when you look at copper prices, they're not participating in the rally you might expect here at copper is falling after a corporate bond defaults adjusting the chinese government is willing to let companies they'll and not necessarily bail them out to help them meet their chinations, even though has set a 7.5 gdp target for 2014. there are concerns it will from the state and corporate sector.

you see copper following today. is creating at a 15 week low. we will continue to monitor all of these moves. this is something that will continue to play out, especially with the ukraine development. we will be act with more "market makers" shortly. >> thank you so much. i cannot wait to come back after the commercial break here it is she went from magazines to global meetings. he will be speaking to tina brown. thing about this. new yorker. newsweek. >> vanity fair. knows and hasuly led the media business. she is going all in on the business of women. we are really going to dig into it. >> i am looking forward to it. we are going to beast eking with

lisa about how nascar attracts women. we are streaming on your smart phone, your tablet and find us andon apple television shaming live and on-demand. ♪

>> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. you are watching bloomberg television. i am erik schatzker. she made her name as one of the most successful magazine editors in the english language. ," vanity fair, now she has a new business. she is with me and stephanie right here. there is no better way to begin a conversation with you and was something that happens to be in the news.

," returning toek the new stands for first time in more than a year with a print edition and some controversy around bitcoin. they claim to have unmasked the father of bitcoin. satoshi nakamoto. ings.ys he denies the t what happens if you got it wrong. been a printhave component to the digital newsweek. it is very hard. the ship sailed. it is a hard thing to bring it back. i do wish them well. i want every magazine to survive. the ship has sailed for print media in general? with newsweek having gone

digital and come out of it and -- i think it is hard to relaunch it. categories are very challenged. >> we don't want to believe you're these questions about journalism, but it brings to mind a very relevant economic question for journalism of all sorts. particularly, news journalism. how to get people to pay for news? they want to charge eight dollars an issue. had he get someone to part with eight bucks at a kiosk. >> it is very difficult. challengeronting that in the 1990's. by monday, if you are publishing your magazine and coming out, the internet journalists, they all bought -- they all got the news early.

newsweek's whole dna was about driving the weekly headlines. the headlines are old by the time they come out. >> you have to be one of the biggest fans of quality journalism. who is doing the best job? the daily beast. we have incredible writers. we had simon rushdie writing about 9/11. i think we were doing a great job at the beast. there are others doing a great job. you took a turn and decided to go all in in the business of women. where's the business case? just a few years ago, women's seemed like a charitable cause. now it is big business.

why? >> "women in the world" -- we launched it five years ago. these women are rock stars. why are they not being heard more. they're doing under -- unbelievable things. was going to start the summit. 300 women, right away, the great women got on board. , meryl streep. they have allstate involves. a rocket.f like last year, we had 44 million trigger -- twitter impressions. engaged people are very with this business of getting to -- who haveho are never been heard of before. how you measure success? what your social media imprint is, who covers a, who arrives?

>> the bottom line is extremely healthy. we refine it. sponsors are very enthusiastic about it. we have a fantastic partnership with toyota. created mothers of invention. we find these young girls who are doing incredible things with tech and their minds and their creativity. they give them an award and they promote these women as young innovators. that is very successful. toyota loves it. our business sponsors, bank of america, at&t, mark, they are , they are very supportive. we started a foundation and decided the best way to administer it was to bring it -- make it a part of vital voices. we could not administer that in the way vital voices could. conference business is

for-profit and vital voices gets a part of the ticket costs. >> whether it is women in the workplace or the world, these are important issues. we should acknowledge that. because of the importance the need to elevate these issues. >> it is important to bring as many people as you can into this whole concept of a global woman's movement. it is such a catalyst. they meet donors, funders, ngo people. >> these women are working so hard. it does not matter what the cause is. >> these women are capitalized by the combination between --

>> i would ask the same question. would you run a diabetes conference for profit? most able would say no. i am just raising the question. >> what about bloomberg's conferences? >> for-profit. but it is not with a seemingly noble aim, which is to draw attention to the issues that need to be brought to the brought to the center of the table. >> we are about women leaders. not talkinglso about celebrating and telling the story of underprivileged women. it is a chance to celebrate

professional women, women who are aspiring to be great leaders. >> when stephanie said i was going to be her sociology experiment, she was not getting. do you feel like the conference business is getting crowded? that moreperceive is people are addicted to their screens. more they are, the more they want to get away from them. our lifestream audience is very large. there's something about being in that room with other women who are experiencing the same thing in real time that is very energizing. that is one of the reason people to live events. they are all looking for an age, they are looking to get through

the noise. the way to get through the noise is to make an emotional connection to people who have moved or inspire intellect. whether it is bloomberg worthy wall street journal, the list goes on and on, ignoring that niche for a moment, what is the secret to building a good conference business? >> passion. it wasn't about let's do a conference so we can make a business. it came out of a passion to make people heard. it was not a business with founding dna to it. it has ignited a business. vein.have tapped a >> the world is becoming a much bigger platform. smaller women in the world events. we did one in d.c. last week. we have done one in chicago. where wei summits

bring two or three of our global women in and expose their voices to women that have never heard of them. it is so energizing. we had a huge crowd in washington. madeline albright talking about ukraine. ctivistso amazing a from ukraine. we were trending on twitter. it will be our fifth or sixth this year? >> fifth anniversary. i will be there. you just got a personal invitation. thank you so much. what an honor. tina brown. the founder of "women in the world summit." >> get your motor running. ceo of talk to the international speedway. ♪

>> welcome back to a special edition of "market makers." ceo oft guest is the international speedway, lisa france. lesa is here with us exclusively. who does not love nascar? this board has more corporate sponsorship than any other sport out there. about a nascar network? when is that going to happen? >> it is the number one spectator sport and we do have more fortune 500 companies that are involved with nascar than any other sport. >> why not have your own tv network? >> we have a good relationship with fox and nbc. we feel they will help us grow the sport and promote the sport of the future. >> there was a channel called

speed, which was replaced by fox sports last august. there was a destination for motor racing fans to go, but now, it is diluted, if you will, with a bunch of other things. would it not help you -- even if fox will drive some viewers to motor racing, would it not held to have it exclusively? that fox is going to help us grow the sport. >> wwe is doing a digital channel on their own. you are bigger than they are. you have such a massive business. about ity we are going right now with the new $8.2 billion contract at we have with us.and nbc is helpful to it also provides more money to invest back into the guest experience.

>> let's talk about that. you are diversifying the business. you have a $400 million expansion of the daytona 500. talk to us about some of the things you are thinking to add to that. it is the largest single project we have ever done in our company's history. it is going to change the face of nascar racing and the guest experience that we have. i will give you some examples. she first to motor sport stadium in the world. and we'll have a different look and feel than other race tracks have in the past. >> we are seeing hotels around daytona renovating. you are looking into opening hotels. expanding the business. propertyd the surrounding the racetracks is very valuable.

there's so much that we can do to unlock the value of the real estate. we just announced last year a project of one daytona. squared be 1.1 million feet of retail dining and entertainment. it will give our guests more to do. it will extend the visitors stay. we will have year-round visitation to the area. all of that will be helpful in growing the sport. >> what is the demographic? do nascar fans have the kind of money to stay in fine and hotels and go to all these restaurants? >> in many cases, this is their annual vacation. it is their disney world. they go and expect to spend their time and they want to stay. >> electric cars are taking off. look at tesla for example. they are fast. would you ever think about bringing electric cars to nascar

or fitting it into the international speedway environment? >> that might be down the road. of fans love those types racing's that we have today. i would not rule it out. >> you could open up a whole new fan base. >> it is not something that is on my plate right now. we're focused on the racetrack track and upgrading that experience. >> when will this upgrade be done? >> it will be done for speed week of 2016. our daytona 500 in 2016 will be run at the new stadium. you on thendent are power of one single star? heavy a waiting on one race car driving? tohis victory did so much advance our sport. we have so many stars within the a fanthat he has been

favorite for years. the fans really were excited about that. we saw a huge impact with our sports ticket sales. i think it really increases the awareness and brought a lot of the fans. >> what kind of sales impact is danica patrick have? >> a tremendous impact. 40% of her fans are -- of our fans are women. think it has increased the overall awareness across the board. that -- dale earnhardt jr. a fan favorite. what you make of the trash talking between richard petty and danica patrick, him saying that she could only win if everyone else stayed at home. >> that was a really

unfortunate,. danica has every bit of competitiveness as the other drivers. she was running eighth and that is a terrific showing for any driver. and that is a terrific showing for any driver. in the near future, i think you will see a lot of attention -- uphave one, kinsey is coming to the ranks. a great competitor. a great style about her. you will see more coming up through the ranks. >> thank you for joining us. , the ceo ofkennedy international speedway. >> when we come back, "market makers" is going to take you on the markets. ♪

>> we have an off the charts that gets to the hearts of women in the workforce around the world. scarlet fu shows it to us. we appreciate you have brought us a very special otc. >> it measures the proportion of economically active female in the populations age 15 or up. we call it working girls. it is a sampling that shows just how wide a range exists in the developing world. at the top, the netherlands is leading the way. about 80% of the women's country is working. at the bottom, saudi arabia.

it is a controversial issue. china and brazil, brazil is not showing, but it is about the same gap. about 60% of the women are working. u.k..s., russia, and the are in the same range at just over 55%. mexico is below half and somalia is our only country in the low income category. what policy successfully promote -- >> there was not a whole lot of text to go along with this chart. when i thought was interesting was the netherlands. i was reading how less than 10% of dutch women work full time versus 75% of the women in the u.s.. than 10% of dutch women work full-time. they like it that way. 2000 is a law passed in

that mandated women have the right to cut back hours at their fromwithout repercussions employers. if you work fewer hours, you get paid less. they don't have a problem with that. maybe they are not concerned about their career prospects. a difference between being employed and having some rising star, unbelievable career. >> the united nations looked into whether the netherlands has following the -- treaty. --.al-mart is going they're speeding up plans to open up smaller stores.

♪

whoe are talking with women offer inspiring stories of social, economical, and inspiring achievement. we will hear from the top women in finance, media, technology, sports, retail, and start up. all of them, inspiring change in leading global business. welcome back to "market makers." i am a very excited stephanie ruhle. >> good to see you. these are the top business stories from around the world. the labor market appears to have

bounced back from the bad weather. more jobs were added than economists expected. a point. up 1/10 of that is because more people started looking for work. another encouraging sign. there is a campaign to include -- improve credit card security. the second mastercard are banding together with banks and merchants. they will try to speed up the adoption of chip technology and cards to prevent fraud. pimco is backing away from comments contributed to so gross. he told reuters that he is sick tomohamed el-erian trying undermine him. says gross did not make the statement attributed to him by reuters. the plot thickens.

>> we have talked to women in banking, publishing, and sports. let's turn our attention to politics. we have senator gillibrand joining us. she is one of a record 20 women -- body.n the world's >> i want to start with the news of the day. your military sexual assault will that failed yesterday. it would have taken the decision on whether to prosecute alleged rapists away from individual commanders and given it to a military lawyer instead. the women in the military -- will they be more at risk? >> we did not fix the fundamental flaw in the system that victims have told us they do not trust the chain of command. the reason why nine out of 10 victims do not report these crimes is because they don't believe the commanders will do anything. until you return -- restore , you arethe system

never going to solve the problem. you need to have a major ro cultural shift. been ableat this had to do, had it passed. mamet is there any other way to achieve your objective? >> there are a lot of things wrong with the system. we are going to fight for this one reform. we are looking at -- anyone out of 100 cases that went to trial, the convictions did not result in jail time. they often resulted in slaps on the wrist, things that did not meet the crime. we're going to investigate that. we've asked for reports from four major bases around the country. the fund -- fundamentally, we bed to get the command to healthier where victims do not feel retaliation. ultimately, we have to keep

fighting to take this decision out of the chain of command. >> universal pre-k. many of us think it is a great idea. we want our kids to be educated and we wanted affordable for everyone. >> universal pre-k is one of the investments that has enormous economic return for growth for our country. one study showed that for every thatr that you put in, child will produce at least $11 in economic benefit across their lifetime. we want to give every child a chance to reach their potential. that means giving them the extra year before kindergarten so they can learn about numbers, words, start spelling, start writing. would be the most important investment we can make for long term, economic growth and prosperity for our country. the men and women whose ideas turn into small businesses, that

relies on making sure every child reaches their full potential. >> had we pay for? -- how do we pay for it? the governor of new york has his way up paying for it and filled the blobs you want to raise taxes on new yorkers to pay for it. which is the right approach? >> every governor and every mayor will decide how to write their budget and name will make a decision -- and they will make a decision on how you pay for the priorities. toould urge every governor figure out how to make it work and how to make the investments. the federal government hopes to pass a universal pre-k bill that we will send law grants to every state and let them work it out within their budget. make sure it is

equally important to have affordable day care. undermining capacity to earn for family by not having the support of affordable day care. things as simple as paid leave can make a huge difference. anytime you have a family member it iss ill or new babies, often the women who give up their careers to take care of the emergencies and sometimes careereir spots on their advancement, losing out on benefits or promotions, again, not reaching their full potential. >> companies and small businesses need to focus on their bottom line. it would be tough to find someone to disagree the importance of what you're talking about. if i am a small business owner, i can't necessarily adjust that. >> yes you can, under my bill. it will be run exactly like social security. everybody would put a little bit -- a little bit in

every week. asidemployers putting $140 a year. if you knew you could put that aside a year per employee so that when an employee has a dying mother, they can take care of the needs of the family and be right back in the workforce. that kind of certainty is invaluable. they know they will not have to pay for that employee. that makes sense for our economy. in new york state, 48% of our workers are women. >> that is the message you need to get through. dispute overical paying for universal pre-k doing a disservice to the initiative to the effort to get everybody

to recognize how much good it would do? delighted we are debating how to pay for it as opposed to whether we should have it. there is a consensus that we must invest in our children and their education. early childhood education as the greatest return for the ability of that future workers to reach their full potential. i am glad we are all on the same page. interestednot just in keeping the women in the state of new york working, you are in the other women in politics. every time we talk about washington being broken, the one exception i see is the women of the senate work well together. they work well to find the common ground, compromise, and get things done. my goal is to change the players, make sure we have more women running for congress,

winning the elections. off the sidelines is a nationwide call to action, asking them to vote and be heard -- and be heard. advertise, tell people what they care about and why they're running. >> is there any way to make the senate more bipartisan? congress has business to do and i can't do it unless republicans and democrats agree with each other. is there common ground between you and senator deb fisher? do you find common ground because you share these points of view? >> we will find something to work on. we care a lot about veterans, a lot about manufacturing and agricultural issues.

i suspect we will find things to work on. kelly i ought and i have found things on the national agenda. we found common ground. in the last sexual assault bill, 17 of the 20 women wanted to see this reforming. i have great hope for all the sidelines. -- off the sidelines. women in the white house, do you think we will see one? >> i do. i think hillary will run and i think she will win. i feel like the platform i have today, i can work on so many issues that new yorkers need a voice on, whether it is fighting for food stamps for cancer or universal pre-k or sexual assault victims. i can make a difference. i feel privileged i have this

job. >> please stick around. thank you so much. >> coming up on "market makers." companies like cisco caught the wave. it is friday. that means it is time to play the market maker's yearbook game. she is one of the most powerful women in corporate america. she gratis just graduated from waterford mott in 1980. tweet us your guesses. there she is. can you guess? i think i know who it is. ♪

>> welcome back to "market makers." it is one of the biggest topics in tech. the internet of everything. companies are lining up to cash in on it, including cisco. padma and iith asked for her on the internet of everything. >> if you look at the interview can -- the internet, it has transformed our lives. no matter where we are in the world, it has touched our lives. think about the internet, we think of it as the next phase of the internet. it will be to connect things with people, processes, and

data. think about it as the next phase in the evolution of the internet. affect yourit bottom line? -- there aree roughly 10 billion command -- connected devices. by 2020, we'll have 50 billion connected devices. when you figure out a way we can connected devices and how we make our lives more productive, a $19imate roughly trillion value to the industry over the next 10 years. cisco wants to play a big role in this. for example, when you have

connected vehicles or connected cars, is not just having the conductivity with the -- the connectivity within the car, but having information that can be shared between vehicles so traffic condition problems can be solved better, how can we enable maps to be delivered automatically. is in the smart grid and how energy is distributed. they could be a lot more in -- efficiency garnered. result in us having less traffic accidents, less congestion, much more efficient energy coming to our homes, making them more accessible to people around the world. >> five or seven years ago, cisco was the name people thought of when they talk about tech. now it is facebook or google. or seven yearse

was about digitizing interaction. now there is a rise of social and mobile. we have toase where connect things with people and process and data goes back to dealing with cisco is really doing, bringing industries together to be aggregated. that is where we play a big role. we feel we are in a very strong position to drive the future of the internet of everything. economy, aref the you hiring engineers, are you growing? memo we are growing, but we are glowing -- growing in selected fields. the skill sets we would need not justward is more hardware and software, but people understanding how these two things lay together. that is another thing that is happening in the field.

jobs are becoming more multidimensional. whore looking for people were not just software experts, people who understand product design, coupling the hardware performance with what the software can do. that is the skill set we are focused on. how about non-tech companies? you sit on the board of a retail business. how should these companies be using technology to interface with the customers. great point. as we internet -- as we enter the internet of everything, retail industry has to deal with a lot of technology, energy industry, health care industry -- they will be using more technology. look at,tical that you banking, financial, transportation, they're going to beusers of technology and

integrating technology into their own businesses. want to give you a number next to your name. 1.4 5 million. you know what that represents? >> i think you are talking about my twitter followers. >> indeed, i am. turn back the clock. when you came to cisco, did you think of yourself as someone that was going to have over a million twitter followers and what is your message and the responsibility around having that kind of following? >> i never did. even when i started on twitter. i never expected to have so many followers. i think what i try to do on twitter is used as a platform to share what is on my mind. i don't just do it in the field of technology. i love to paint, so i post pictures of my our work. i write haiku's on twitter.

i asked for opinions, i talk about movies, books. that is probably one of the reasons i have the following that i do. i enjoy having so many followers. i take them very seriously. often times, they send me ideas and criticism. it is all very useful to me. it is a great way for me to connect with a very large audience. people make me recommendations. it is a fun platform for me. >> there you have it. thanks to padma warrior. woman thoughtthis she would be a social media superstar. >> when we come back, we are going to meet a walmart lifer who has worked her way up. she is the chief operating officer of walmart. ♪

>> it is time for "on the markets." what is happening any the major indices. the jobs resort port -- the jobs report created 175,000 jobs. initially we saw a bit of a pop. not much of a pop. suggesting stocks would end at a record close. some of the enthusiasm has drifted out of the market. the signs were encouraging. people are returning,

looking for jobs. >> i think the market to be down because people are not looking at their screens. they are focused on international women's date. proposed in and coupon website, coupons.com, they ipo d this morning. somebody did not get a good deal, or they did. were priced at 16 bucks a share and now they are soaring. have you ever seen a shame coupon in? >> the tv show? >> is crazy. >> the hoarder, yes. the coupon are, no. >> walmart wants to speed up its

moon into small format stores. we will talk to the woman that is leading the way. ♪

>> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. >> i am erik schatzker here with stephanie ruhle. she started her career as a management trainee at walmart. she is now one of the most powerful people at the world's biggest retailer. she is with us from walmart headquarters in arkansas. good to have you here with us. i want to understand a little of what you'ret doing as chief operating officer

for walmart. this small store initiative. term when itlative comes to walmart. they're much smaller than the supercenters. why is this important? >> thank you for having me. think about our growth across the united states, the supercenters are very viable a at.m o format strategy is how our customers are changing and what they expect and how they shop. it is about getting to that midweek fill-in trip, even a convenient strip. the small formats, neighborhood markets are smaller, but they offer a broad assortment of fresh products. becomewe going to one-stop shoppers when it comes to walmart?

we aren't going to be at a 7-11, or at kmart. it is all walmart, depending on what kind of shopping you need to do? so.e hope the supercenter offers a broad assortment. you can find genes, light bulbs, jeans, light-- bulbs, fresh produce. all of the formats are tied to our.com business. we are bringing it together for the customer so it can be anytime, anywhere, anyhow access to walmart prices. >> the retail landscape is shifting and changing and now we have our sons combining with -- albertsons combining with

safeway. >> they are both good competitors. in ourl find that walmart super centers and our neighborhood markets, a traditional grocery store chain, we offer the best in terms of assortment and prices versus our competitors. retail is changing. our it comes to food, customers are looking for different ways to shop. one of the things we are doing is testing grocery delivery and denver, colorado. that test is very successful. more than 90% of the customers that have used it have rated us above standard or outstanding. prices are generally speaking,

we offer ad match at the register. for us, this is about integrating the world's best supply chain with great capabilities and.com services. opening 115 more stores. people shot more online, amazon, why go the brick-and-mortar route? it isot of customers -- about the shopping experience. we are not trying to have them choose between one or the other. a lot of customers do like experience. they do a lot of research on the internet. tvs is an example. a lot of our customers go on our walmart.com site. they want to see with the tv looks like in the living room,

so they come and shop our stores. this is about the convergence of the physical shopping experience with digital. we are also finding other ways to serve the customers better. >> that is what i wanted to talk to you about. when doug mcmillon was named the ceo, i spoke to the formerly director. in our conversation, this is what he told me. so much of the next generation of commerce is connecting stores seamlessly. the has thought about this as deeply as any retailer in the world. from what you are telling me, you have spent a lot of time thinking about it. how do you make walmart more of withoutouse cannibalizing your superstore revenue or your small store

revenue and creating a culture of warring tribes inside the company. >> this is what i was talking about. amazon is a great company. we can do something that amazon cannot. that is the convergence between physical and retail space. there agnostic to how customers want to shop. what is unique about the way we are approaching these very dynamic changes in global e-commerce is that we are bringing all of the pieces together. we believe this is a huge competitive advantage. we are continuing to innovate and change with other tests. we have a drive-through format where you can order your groceries online you can come up to a kiosk and we will bring the groceries to your car.

we are considering stand-alone sites as well. you will continue to see a lot of innovation from walmart. >> i am trying to understand what you mean when you say you have an advantage. amazon is spending a fortune building out fulfillment centers. you already have fulfillment centers. going to get to a point --re e-commerce fulfillment >> that is the way we think about it. it is not that futuristic. that exist today. we have 3800 points of distribution. you can get on a walmart.com website and pick it up at the store or in the next state when you visit your grandmother. that is happening today. is going onst that

called tethering. that will happen in three markets this year. that integration of supply chain and labor and resources is all about fulfillment. lowest cost to fulfill the order for the customer. russ, it does not have to come from a warehouse. the warehouse is on the shelf today. >> what markets are you testing it in? >> i will tell you about the one that is public right now. that is in north carolina. i will say that much. energy costs are higher, minimum wage is potentially going up. you also face a food stamp cuts. how are you adjusting those? have is a model that they -- that has stayed tried-and-true over the last 50 years. we have a business model that focuses on lowering expenses.

we constantly try to find ways to be more efficient. regardless of the challenges ahead, we continue to innovate and find ways to become more and more efficient. find ways trying to to become more efficient and remain the lowest cost retailer al there. -- out there. when you consider experimenting likedelivery methods drones? >> our focus is on different types of initiatives. i mentioned at the drive-through. we are open to a lot of different ideas. tethering is one of those ideas. ways tocontinue to find bring walmart prices and easy access to our shoppers.

>> i need to talk about your 10 year -- 10 year at walmart. what is it in the walmart water that has you staying there so long? i learned about walmart while was going to college. i learned about the story in and of itself. what brought me to walmart was the company's core values. why i have stayed over the years, walmart has afforded me tremendous opportunity to do the things i love. i love retail and store operations. i have been able to take on real estate. i have worked in human resources and work in different areas of the company. there are hundreds of other stories. you come to work for walmart and you find wonderful opportunities

that are real. they are doable. we promoted associates and 40% of those promotions happened to associates that were within one year of the company. the opportunities are real. >> thank you for joining us. businessoment, the that can handle a lot of your annoying chores for a price. we will talk to the woman that came up with it. ♪

>> welcome back. it is like having your own personal assistant to run errands. it is taskrabbit. to tell us the story. i love it. a cold winterin

night back in boston in 2008. you were getting ready to go out to dinner when we realized we were out of dog food. we had a 100 pound yellow lab. were thinking there has to be someone in our neighborhood that we can connect with to get this dog food. was a software engineer at ibm. i was there for about seven years. i decided that i was going to quit my full-time job, build the first version of the taskrabbit site. >> why leave boston and go to silicon valley? cities love to say that they are great for tests, but you went to the mother's side -- the mothership. >> we started in boston and we got san francisco to open is our second market. i was part of an incubator program that facebook was running. at the end of the program, i was able to raise some seed

investment. >> it was facebook that help to raise the money? program being funded by facebook. it was kind of a startup boot camp. that was my first experience in the west coast. i was able to learn a lot from that program. what has the experience been like? how is the start up environment silicon valley versus the start up environment where you came from in boston? >> they both have their own cultures and personalities. what i love about the environment in silicon valley is you can have these serendipitous moments where you might be writing in an elevator with the ceo of intuit or someone at ebay or you might be sitting in a

coffee shop and next to you is a group of consumer internet startups chatting about marketplaces. it has a nice energy and vibe. you to have serendipitous moments that can move your company forward at any time. >> have you had one? here for facebook fund, this program i , heicipated in, tim ferris was someone i thought would be an amazing person to get involved with a company. at facebookto be fund one day. we hit it off. two weeks later, we had lunch. he came on as an advisor. he introduced me to my investors where i was able to raise over $1 million for the company. the optimal scale for your business?

you have 20,000 task ofrabbits. -- is there not a limit, but a perfect place for you to be my perfect place for you to grow to? >> we are launched across 20 u.s. markets. firstt opened our international city in london. taskrabbits, 75% of them are utilizing taskrabbit to supplement their income. i'm excited about the idea that we can empower this group of micro-entrepreneurs to build up their own businesses. people are finding these freelance independent jobs is a great way to build out their own businesses. i am excited for someone to put my ikea furniture together. thank you.

when i told sheryl sandberg i in tech tot woman showcase, she delivered. ♪

>> we will be back with more "market makers."

>> that is going to do it for "market makers." you have been waiting to find out who this is. not that a female ceo, we should not every time. this one happens to have graduated from waterford mott high school. class of 1980. who is it? >> i am saying it is mary barra. >> i think you are right. >> i was not alone. it was a female twitter viewer who got it right. >> look at who it was. that is going to wrap this up for the day. thank you for joining us. >> i like that. i can tell by her eyes. it is athe time

male ceo and you can tell by the lack of hair. >> the sociology experiment is over. i guess i should take him out for lunch, call him a cupcake, having an appropriate conversation. >> it is 56 minutes past the hour. we are "on the markets." here is scarlet fu. >> the u.s. stock markets reaction to the jobs report is muted. the dow industrial is up by 28 points. little changed. we are driving into derivatives. get ad-looking options to better clue for where markets may be moving. joining me is the president of teen on the markets -- keenonthemarkets.com . some expectation of a bigger reaction? >> it is relatively low.

a reversal day where we get to a new all-time high. we close on the low of the day. maybe possibly a short-term pop. i know that i am bearish, but the stock market wants to go one way. that is higher. i think the market will continue to move higher. we have concerns with ukraine and russia. always have problems with merging markets as well. i am going to be skeptical. i will take off some long positions at the end of the day. not have a big economic data points the way we did with the jobs report. what will you be looking for next week as catalyst for movement? piece ofe some economic data that we look into. there will always be catalyst of vents. to take their positions and not have long exposure over the weekend. when the s&p closed and open

on sunday, it came down pretty hard. a lot of traders will be on long positions. next week, i will be looking for catalyst. let's look at one particular name. cell energy are moving quite a bit. is there an options trade you would consider? from $1.70k has gone to $3.40 in just a few weeks. implied volatility is very high. earnings are coming out in the stock performs poorly on earnings. i like the story going forward. they are similar to be dlp. -- bdlp. i cannot buy a stock that has doubled in two weeks.

on the straight, i would buy the july 3 call and selling the front month. i can do this for a $.60 debit. >> you also have a trade on bank of new york mellon. we saw unusual option activity. >> we have to leave it there. keene. is next.ney" ♪

>> welcome to "lunch money." we tied together the best stories, video, and interviews in business. intech, blackberry's mission. -- a little vip treatment. tomorrow is international women's day. how top executives lean and. the government says there is adt'sing not right about sales pitch. in fashion, the billionaire who started the diesel brand. he brought his son along