>> welcome to "lunch money." i'm adam johnson. take a look at the many. here's what we've got. the president walks in to the gap. forget the euro crisis. the euro has bigger problems. with politics, marco rubio a new course after regrets on immigration reform. a 20 billion neighborhood. -- a $20 billion neighborhood. take ae man who wants to bat wing suit for a ride off mount everest. we will kickoff with a special

happy birthday to the world wide web. www turns 25 today. search,o a google you'll find there are several dates to celebrate our eternal love of the internet. aday marks the 25 years since proposal to improve the flow of information. "a web of notes with links between them." the international governing body wwer the internet declared w technology free and open to everyone. >> everyone in the world can have access to some basic service for an affordable price or for free. a waynk we can do this in that gets people access to some basic services. while increasing the overall number of subscribers. and profits so people can invest more. zuckerberg talking last month about internet.org.

he wants to bring the internet to billions of people all over the world. what a wonderful way to celebrate the 25th birthday of the world wide web. >> it such an important thing when you think about using any service. where you're going to share personal and important information can we continue to work to make sure that we can share everything the government is asking us. >> yeah. that's that nsa surveillance thing. today in thes google blog. he wants internet users to answer, how can we build systems of checks and balances? high-tech community wants this answered as well. companiesrecall cove like google and facebook being not so happy. >> they did not knock or call.

they didn't send a letter. they just visited. [laughter] >> they visited. eric schmidt has been vocal about the spying issues. today he wrote, "over the next decade, 5 million people will become connected to the internet . the biggest increases will be in that are severely censored." they went on to say, it's possible to and repressive internet censorship within a decade. it if we want the next generation of users to be free, you don't see any other option. he wrote about the issue of trust being the most fundamental issue. the yahoos ceo cannot agree more. davos.he is back in >> transparency. the ability to warn others so we can help our users understand

exactly how many requests we are getting. and how that data is going to be used. we need to be able to rebuild trust with our users. >> do you feel that trust has fallen because of this? >> i definitely think so. within the u.s., but internationally. there are other countries that have concerns about what the nsa is looking at. i think transparency is something that we need. >> we can find one more person out there who wants a free and open internet. >> when we think with what is happened with the nsa in the beendecade, the result has an adversarial internet. a global free fire zone. nothing that we have ever asked for. it's not what we wanted. snowden cracked open

this massive can of forms last year when he explodes -- when you exposed the nsa data tracking. it sparked a firestorm in washington. here is one voice that was loud and clear. >> the whole purpose of this program is to provide instantaneous information to be able to disrupt any plot that may be taking place. it has not been abused or misused. it is carried out by very strictly vetted and professional people. i think a lot of the privacy people perhaps don't understand that we still occupy the role of the great satan. new bombs are being devised. new terrorists are merging. a new level of viciousness. i think we need to be prepared and we need to do it in a way that respects people's privacy rights. >> that was diane feinstein.

the chairman of the senate intelligence community. -- intelligence committee. >> after a series of meetings, i learned that on two occasions, cia personnel electronically removed committee access to cia documents after providing them to the committee. this included roughly 870 documents. february removed in 2010. roughly another 50 that were removed in mid-may 2010. this was done without the knowledge or approval of committee members or staff. in violation of our written agreement. it seems senator feinstein now in a fight with the cia over the agencies fiddling with her

computer network set up for the committee to investigate treatment of suspected terrorists. she accused the agency of improper and possibly criminal actions. >> the recent actions that i have just laid out make this a defining moment for the oversight of our intelligence committee. how congress and how this will be resolved will show whether or not the intelligence committee can be effective in monitoring and investigating our nation's intelligence activities. thwarteder it can be by those we ever see. >> marco rubio is a member of feinstein's intelligence committee. we asked him what he thought about her accusations. >> i think that story has two sides. i think it's more complicated than what's being put out there. at the end of the day, there impartialan

investigation as to what happened. you may end up finding out that both sides are to blame here. that both sides committed mistakes. >> we will hear more from senator rubio later this hour, including speculation about his potential presidential bid. hacking dispute is timely. given the 25th anniversary of the world wide web. one of the women who worked in the early days of the web wrote that governments are playing fast and loose with our personal data. it goes unchecked, it will destroy the web and set nations against each other and against their citizens. there are other important national matters. president obama hits the gap with a message. gap.hing you cannot buy it a drone capable of shooting a dart which can stun people at up to 80,000 volts. we will show you, coming up. ♪

>> this is lunch money on bloomberg television. i'm adam johnson. shopping.obama goes the leader of the free world went to the gap. it he was not just their two buy dad genes. buy dad jeans. >> it never hurts to bring something back when you're on a road trip. i want you to take that step.

heard me talk about the importance of giving america a race. corporate profits are doing well. stock market is doing well. for a lot of folks out there, they have not seen a raise in a long time. their incomes are flat. not only do i think it's quickly important for those in the federal government to make sure they are paying $10.10 an hour, i'm pushing congress to pass a federal raise in the minimum wage. --mrs. could take initiative businesses could take initiative to make sure that folks are not living in poverty. to flex hisns presidential powers tomorrow, signing an executive order on overtime pay. they will have to modify rules so more people could be eligible for overtime. >overtime must be paid to salary

dyed -- he can be denied to workers who are considered executive, administrative or professional. he said he plans on using the hisce -- the power of office to make changes. obama is trying to boost pay for all workers by increasing the federal minimum wage to $10.10 an hour. it the former chairman of sacks -- we spoke about whether that decision would actually hurt or help the economy. >> i think the issue of minimum wage is a complex one. it the congressional budget office indicated that you could lose 500,000 jobs. there are alternative ways we could be addressing this. whether it's minimum wage or an income tax credit or alternatives in terms of helping the employees -- it's not a

simple answer. >> it seems like a simple answer. according to the democrats. you want to lift americans out of poverty, let's raise the wage. why is it so complicated for retailers? >> small businesses who are on the edge are going to have a very tough time with the minimum wage issue. most large companies are already paying above minimum wage. it'sssue here is one of -- going to have billions of dollars of impact. potential employee risk. in the longer term, accelerated economic growth. if you have the economy growing, that creates more job to these. it's going to create the opportunity for more wealth at all levels. bloomberg national poll found that 69% of americans approve of president obama's call to raise the minimum wage. they are evenly split on his

overall job performance. 48% approve and disapprove. we should point out, this is up from december's 42% approval rating. the biggest positive change of his presidency. one thing that might help explain the upsurge, appearances like this one. >> you must think that you can run three times. >> it's a good idea. if i ran a third time, it would be like doing a third hangover movie. >> you know what i would do? i would make same-sex divorce illegal. then see how bad they wanted. >> i think that's why you're not the president. >> do you go to any websites that are.com or.net or do you stick with.gov? to.gov's. have you held of healthcare.gov? >> here we go. that's get this out of the way. >> have you heard of the affordable care act? >> i heard about that.

that's the thing that didn't work. why would you get the guy who created the zune to make your website? >> healthcare.gov works great now. millions of americans have already gotten health insurance plans. what we want is for people to know that you can get affordable health care. most young americans right now are not covered. the truth is, they can get coverage for what it would cost to pay your cell phone bill. >> it is already reached over 11 million views. according to a white house spokesman, traffic on healthcare.gov was up 40% on tuesday. way to go. yesterday, the department of health and human services released its february numbers for the affordable care act. 4.2 million folks have enrolled now. nagin hughes has more details. thehat's from october when

exchange was rolled out to march 1. that's the big picture. to look at february specifically, those enrollments were down from january. cbo projected that by the end of next month, 6 million people would be signed up. that is when the enrollment peri od closes. original projections were around 7 million. they revised it because of those problems with the website. one other thing to point out, a key demographic did grow faster than any other age group. an increase of 268 thousand. still, slower than last month. george says there are bigger problems well beyond the euro crisis. coming up in innovation, we will go inside a u.s. factory that is building european helicopters. we will be right back. ♪

>> we want to get straight to some breaking news. that building explosion that occurred earlier this morning in east harlem. two women that have been killed. at least one building has collapsed. the new york city fire department said minor wounds were too numerous to count. into elevated tracks for metro-north that were running in and out of grand central. the new york police now saying that at least two females are dead in an explosion in east harlem that occurred around 9:30 a.m. the blast came about 15 minutes

after a neighbor reported smelling gas. that.men are dead in we will continue to follow that for you and bring you the latest. >> this is "lunch money." i'm adam johnson. for a soros was known legendary bet against the british pound. he made over $1 billion. that was just one week. it all happened as europe was trying to unify and bring about the euro, which has been emerging from a number of crises over the last couple of decades. it francine sat down with mr. soros today and asked for an update. >> the financial crisis is over. but now you are facing a political crisis. transformedsis has

voluntaryeant to be a association of equal sovereign for thehat sacrifice greater good. into something radically different. it is now a relationship of bettors where the debtors have andiculty in paying servicing their debt. that puts the creditors in charge. eurozone into two classes. the debtors and the creditors are in charge. policy thaty, the germany is imposing on europe is counterproductive. condition ofthe

the debtor countries worse and worse. europe is already growing out of the eurozone. germany is forging ahead. italy is now falling behind. >> what about the u.s.? here is mr. soros on the american economy. >> the u.s. economy is actually relatively the best functioning. it is a reflection on the global economy. economy has its own momentum. it's not following optimum policies at all. internalf the political struggles which have

not been resolved. fullu can watch the interview with george soros at bloomberg.com/tv or go to our award-winning app. marco rubio for president? 6 run.oughts on a 201 we'll talk about the daredevil taking his wing sue to the skies . specifically, mount everest. ♪ >> its 26 minutes after the hour. bloomberg tv is on the markets. i'm olivia sterns. are fluctuating between gains and losses. the s&p and dow are in the red but the nasdaq is trading higher. all the benchmarks of concession lows. shares of fannie mae and freddie mac both plunging after leaders of the senate banking committee announced bipartisan plans to dismantle the companies. the measure would replace them

with government bond insurers. the safety net would kick in once primal capital lost at least 10%. the senator said they would introduce the bill in the coming days. againl be on the markets in 30 minutes. ♪

>> this is "lunch money." i'm adam johnson. ,oday's moving pictures now video is the story. two people were killed in explosion in east harlem. a building collapsed and a far of a lime fires ready to an adjoining building. more than 150 firefighters worked to contain the blaze. violence erupted in turkey after a teenage boy was injured by police last year. he died yesterday. the 15-year-old was hit in the head by tear gas cans last summer when police crackdown on a street protest.

it triggered protests in cities across turkey. in alaska, after eight days on the trail and more than 1000 crossed thed, they finish line to win the iditarod. a snowstorm with high winds slowed the lead much or. these dogs ran a blistering pace to pick up fo ground. today in politics, florida senator marco rubio is shifting gears after feeling some heat from the conservative causes for supporting immigration reform. he is focusing instead on the u.s. economy. he sat down with bloomberg's chief washington correspondent peter cook yesterday. to hiso rubio has things minutes. but he also has that immigration issue hanging out there like a huge red flag for republican voters. he has to get back.

he has things to his advantage. he also has that immigration issue hanging out there like a huge red flag republican voters. a little background here. his parents are cuban. they came to florida in the 1950's. e orderedation judg authorities to deport his father. his parents were eventually naturalized. for four years, rubio's father might have been undocumented. that may have informed his own views about immigration. his father seems to have a slightly different focus than his conservative base. at a could not arrive better solution so we could get it done. it will be difficult to do anything comprehensive. people don't like to hear this but it's true. given the lack of trust in its president that republicans have. round up and deport

12 million people. which of the consequences be for having violated our immigration laws echo what is the process by which you integrate these people into the american society echo and prevent this from happening again in the future? rubio, one of the top republican contenders for 2016. the irishcording to bookmaker. in a close second, chris christie. wilson and her run in 2016? outhere is this notion there that our economic problems are directly linked to the downturn in in the 2007 economy and the ramifications of that. that is part of it. my argument is that what we are facing goes much deeper than that. it has to do with systemic change in our economy. it is a global economy. automation is real. the result is, people have found jobs that they once relied on to get through the middle class have been outsourced or turned into machines.

the 21st century is not about challenges. it's also about opportunities. this new postindustrial economy created very real opportunity. real problem we face is the full nott of the challenges and capitalizing on those opportunities. one of the reasons why is our solutions and laws have not caught up to that reality. we are still trying to treat this like a cyclical downturn as opposed to what it is. a systemic change in the very nature of our economic loss. you put a tax overhaul on how would you approach this issue differently from them? >> the focus needs to be on the fundamentals. they are based on two things. markets and encouraging innovation and investment. globally competitive

economy -- how do we position america to successfully compete? >> you can watch more that interview on bloomberg.com or go to our award-winning tablet app. am of theand property ceo behind one of new york city's biggest developments called hudson yards. we are going to show you some of the lavish hotel suites in the caesar's palace. coming up. ♪

property, the company behind some of new york city's biggest developers. he spoke to betty liu about one of the biggest projects. a city within a city. >> hudson yards is 28 acres of land that we control on the west side of manhattan.

hudson yards will truly become the new center of new york city. the new transportation going over there with the new seven subway line. ?> how is that going >> it's almost finished and it should open this year. >> back to that question, time warner is one of your tenants . >> be recently purchased their office space back from them. we did that in partnership with two separate funds. to hudsontted to go yards. they will stay in place for the next five years while we lease the building. they will anchor our second office tower. the second tower will be 2.6 million square feet. >> what did it take to convince them to move over there? >> it did not take a lot, actually. >> fancy new buildings in new

york to fancy buildings in las vegas. hotel suites when only the best will do.

>> think amazon delivery drones

are controversially? a drone that shoots stun darts. -- one adventurer plans to fly at the highest peak on the planet. ♪

>> in today's innovation, we are taking flight. opened itshelicopter first plant in the united states 10 years ago. the european company moved to the u.s. to gain access to government contracts. it seems to work. they're the largest helicopter provider to the department of homeland security. it also accounts for more than 50% of all commercial helicopters sold in the u.s.. here's look at how these are made.

>> i work for euro copter because i like to fly. i have been flying for 31 years. there are a lot of different models. i like the responsiveness of it. i like the power. it is the largest in the united states in terms of sales. we are a global manufacturer. we market it globally. the advantage for the u.s. market is, it is the largest helicopter market in the world. having this facility here is a tremendous advantage. to get to know your customer and be close to your customer. we are the largest helicopter provider to the department of homeland security and provide a aircraft of the border patrol and the u.s. coast guard.

in the tour is a ministry a lot. and electronic newsgathering industry. french-german company. wanted to invest in this plant before we got any government contracts. because it was a showcase of innovation. a couple of years later, we won the army. here in our mississippi plant, we move into electrical and avionics where all of the wiring and electrical components are installed. mostngines are one of the expensive parts of the aircraft. the engines are provided to us by the company in texas.

we are now moving into our testing and rigging area. it is where we actually install the flight control hardware. then we move into flight operation. >> we love mississippi. it is a great state to do business for us. we have low cost of power and energy here. qualified workforce -- we don't have a whole lot of pressure from our competitors in the state. it's a great partnership. now let's talk drones. a drone capable of shooting a dart that can stun people with up to 80,000 volts. produced by company called chaotic moon. they just demonstrated the system. the chief innovation officer explains how and why this thing was built. ♪

>> it's a pretty standard hexa copter. wereomponents that we used things that were ordered over the internet. it took a short amount of time to get up and running. is important issue is, this something that we need to start paying attention to because often people build things with technology and don't stop to think about the ramifications of it. from a take something video game and build it for only a few thousand dollars in a short amount of time. and really raise awareness with not just legislators and engineers, but with the public in general. they will be governed and affected by these types of technologies. >> how did you test this? >> we actually had a mannequin and we added special darts. ofdid about three weeks testing. people from our company were very excited to be the one in the video. we had a trial.

is an intern. he was picked because he is physically superior to most of us geeks. >> if he is physically superior to most of the geeks, what was the response from the engineers at the company as a result of all of the publicity that keep it has received? >> we are very excited. in a series ofst technology demonstrations to raise public awareness of just how far we have come and how easy it is for all the manner of things to be created. up we will do that by having a pendulum swing. we are going to do some really well planned, well controlled experiments. unlike our other projects, we will not be sharing any of the code. as soon as we are done, we will disassemble cupid back into its component parts and the lab.

>> now to flight without the motor. this man is going to take that suit to the top of mount everest. we caught up with them near los angeles. main thing about this particular jump is you have to get up to the tallest mountain in the world and get to the top grade i don't know any other base jumper that has ever done that. i'm more nervous now in california then i will be when i'm actually standing there. everything about the setup is going to be different. i'm going to have all this and much harsher conditions. a very specific mechanism to jump off and land. it has never been seen before. technology and equipment that is never been used. this suit allows me a lot more flexibility in my arms and legs. i have to take multiple steps. these are a lot bigger than what it looks like here.

will havemet, i cameras. you'll see multiple positions inside the sea. i will also have different transmitters and batteries. i will have a survival pack. jumping off, your arms are up a bit more like this. then they retract the arms a bit. coming from here down to about here and then leaning forward, that's be generates into lift and allows me to fly out. i don't like to use the word superhero. i'm doing something i should not be able to do. i have done most of the things i wanted to do. blast cap at the the end. i will probably end up in space, to. >> success at everest. he jumped over matterhorn in

2009. that is wild stuff. we will be back again tomorrow. same time. ♪

we are at 56 past the hour, which means bloomberg television is on the markets. let's get you caught up on the markets, starting with stocks. equity markets off session lows right now. the s&p and dow in the red. the nasdaq climbing higher. not a lot of major economic data

out in the u.s.. concerns about a slowdown in china. we are watching the bond market. yields falling for the third straight day. this comes after we heard from double line capital, saying yields will fall even further the 10 yearutting at 2.5%. this morning, betty liu asked jpmorgan's jeffrey about his outlook. >> if you look at the fixed income universe today and think about which areas of the market will do better, i would say you would want to be moving away from interest rate risk and think about credit risk. move away from the unhealthy balance sheet. on itsfed will stack asset purchases, you will see treasuries continued to back up. that is probably one area that i want to avoid. >> it's time now for today's insight and action. adam johnson has some important

technical analysis. >> we're talking head and shoulders. not the shampoo. the cell signal. take a look at this picture perfect head and shoulders formation that we are seeing in natural gas right now. head and shoulders is real simple. price action that starts to go up forms what is called the left shoulder. it rallies up to come back down and form the right shoulder. typically, you get a move back down to what technical strategists like to call the neckline. once you formas that shoulder. there is one other thing that can confirm head and shoulders. you can have decreasing volume. we added volume to this chart and that is what you're seeing. forget about the fancy words. think about the fact that volume is falling. you go up and you go up again and you come back down and volume is falling the whole time.

it has lost momentum. that's what i have and shoulders -- what a head and shoulders formation is. if you're not a chart kind of guy, ok, we have a couple of other things you might want to pay attention to. nat gas is up 8.2%. is average for this time down 18.7% on the year. right because it's mid-march. we are coming out of the winter. prices are usually down this time of year. if you can go up to april and they stayed out. 18.9%. look at this. the april forecast, down 7.4%. we are up 8.2%. the analysts say we will down 7.4%. you can look at history or you can look at the future with the analyst. all three suggest that natural gas is going down. >> adam johnson with the head

and shoulders technical analysis. we will be on the markets can in 30 minutes. "bloomberg west" is coming up next. stay tuned. ♪

>> live from pier three in san francisco, welcome to bloomberg '"west." i am emily chang. king sets the valuation as much as $7.6 billion as we get an initial rice range for ipo shares. we will talk about that in a moment. also, the world wide web celebrates its 25th birthday from founding father calling