-- a ukraine naval base seized by the russians. from the a quiet tone president of the united states speaking in amsterdam. seized military aircraft debris in the southern indian ocean. as we begin monday. finally, apple and comcast consider the top of your television. that from "the wall street journal." it is "bloomberg surveillance." we are live from world headquarters in new york. monday, march 24th. i'm tom keene. gentleman, scarlet fu and my special guest, brendan greeley, wonderful to have you here this morning. we saw the president in amsterdam on the way to the hague. to decide howrs they will approach ukraine and perhaps put tougher sanctions on russia. let's get to the morning brief. overnight, data out of china showed manufacturing weaker for a fifth straight month.

-- preliminary pmi. also pmi data out of europe showing growth in manufacturing closed fastest pace since 2011. france improved and german manufacturing the highest in three years. >> a mixed picture but over the weekend very clearly we saw the idea of a tempered global economy and decidedly tempered russian economy. >> something we will be able to discuss with richard clarida, guest host for the hour as well. economic data in the u.s., not a lot to go on. chicago fed national activity index. that does not typically move the market a lot but market pmi numbers for the united states at 9:45 p.m. -- nine footie 5:00 a.m. toi know you want to get company news. herbalife to nominate three additional carl icahn designees to the board. of course, herbalife has been down i think 42ish recently but there is a continuation of the soap opera.

bill miller on friday i thought was brilliant in his support of activists like carl icahn. >> he definitely was in the corner of carl icahn and also made comments about apple. no our earnings to note but on the schedule, president obama arriving in amsterdam. he is at the hague for a meeting with world leaders on the ukraine. we will bring you headlines. >> let's look at the data check. influenced by rescue. stronger ruble. features up for. 10-year, does nothing. euro-dollar, 1.3774. on we go to the next screen. foreign exchange late. gold weaker. i think it is a big deal. really made a dash four 1400. the yen churning and the two year yield i will get to in a moment. here's the two-year yield back two years ago. up we go.

here is the got. as weantly, the headline continue that this morning, a higher two-year yield. >> everyone wondering what she will focus on. she pointed to a whole range of factors. no longer the 6.5% unemployment rate quantitatively -- >> a mystery. we will talk to richard clarida about this. a busy morning, with the president speaking in amsterdam. we scour the front pages and websites to bring you our front page. >> the backdrop to the president's comments is russia seized and other ukrainian military base in crimea. russian helicopters and armored personnel carriers were deployed in the ukraine flag was pulled down, and the president landing in the netherlands for his meeting with the g8 minus russia -- the g-7 again? >> brendan greeley with us. ian bremmer was going out front with g0. the metric is moving in that direction. >> i am not really sure they are

a negotiating partner anymore. this idea we are playing is playingd putin chess. i read something over the weekend saying that game theory is a different that we are playing chess and he is playing rugby. >> absolutely. there is the front page. we will get to richard clarida on that in the moment. >> our second front-page story is we are tracking what is going on with malaysian airlines flight 370. government officials are saying there are new leads of the missing jet but none are conclusive. one chinese plaintiff spot to objects in the south indian ocean. this is not satellite imagery but they physically spotted it. in an area identified by satellite imagery as possibly containing debris. but bad weather is hampering the search. >> everyone listening and watching in australia -- the idea, no question about it, two separate chinese efforts, the and the plane.ry

>> there is an impatience on the part of the chinese to get something done especially since they feel malaysia is kind of dragging. our final front-page story, apple is in talks with comcast about streaming tv. this is according to "the wall street journal." this would involve an apple set-top box. the talks are in early stages. long-awaited the apple tv that everyone has been talking about. >> we will spend a good amount "f "bloomberg surveillance today translating this. why is this a big deal? what it is a big deal -- >> it is a big deal because the hardest and to do is to get the last mile to the customer. to -- are apple, you have you have to get into the living room. comcast has increasingly large footprint, possibly a third of the market of the deal goes through with time warner. if they can make apple faster and they can make other things slower, a huge advantage to apple.

>> is apple failing and they need comcast? >> it means apple is winning right now on the market -- so, the market is not about technology right now, it is about finding the right part of it is apple has found the right partner and comcast. >> not yet. this is still in discussion. and we will discuss this further in the program as well. >> can we not discuss my bracket? returns --to my tax this is the worst year ever. >> you were looking for wichita state to go all the way. >> kansas, kansas, and i failed it. >> better luck next year. no billion dollars from warren buffett for you. >> headline news, the president speaking in amsterdam. russia seized the last remaining bastion of ukraine in crimea. a ukrainian naval base is gone. western leaders gather at the hague along with the president in search of a response. international correspondent hans nichols joins us now from the netherlands. good morning. what do i need to know about

this meeting? what will be the lead discussion point, visible or less visible, for the president and world leaders at the hague? outtakeost visible bested the meaning -- and of the g-7 -- is there an increase of sanctions on individuals toward industries? so far we have had sanctions targeting individuals. they are not targeting industries. that would be a significant escalation, and it would mean president obama gathered and gained a lot of support from his counterparts here in europe to go a little bit further and to go against their economic interest rate of that is the issue, right? europe is so reliant on russia for the energy and power tom of their would-be economic consequences here in europe. >> the relationship of the g-7 and -- at the hague and nato? >> it should be seamless, and should be tight.

the g-7 has been rebirth after the g-8 died a couple weeks ago. the irony is the g-8 has been diminished for the last five or six years, where the g-20 has been important. it is all a very boring way of saying that economic issues have dominated the last five years in terms of crisis response. yes, there have been wars in afghanistan and iraq, but the form for dealing with military action has always been nato. but it has always been à la carte nato. we have seen that in libya. we have seen it in mali. nato has assets, it has abilities, but not necessarily unanimity of well. >> the talk this morning is dova could be mol the next crimea. i had to find it on a map. are people talking about the next crimea? >> yes they are a must for a simple matter of boots on the ground.

what satellite pictures pickup, and that is russian troops amassing along the borders of .astern -- eastern ukraine there has been some dialing back and russia says it has no plans or pretext to go into those countries. there is a fair amount of discounting. but the risk is the fact they have a large amount of troops next to those borders. it is not quite a walk in but it would be awfully easily -- easy for them to plant the russian flag and increase their sphere of influence and zone of control. >> the president will travel from amsterdam to the hague in moments. richard clarida is here from pimco. without question, what one of america's leading monetary academics. true expertise of the german political economy. pimco, head of global strategy. to live almost a swirl this morning. what is richard clarida focused

on what i'm mentioned the word russia, ukraine, crimea? far it is remarkable how little turbulence of this has caused and markets but if you told me six months ago that after the olympic we would essentially will be seeing in ukraine, i would've thought this would have been more negative for rich -- risk assets. why it hasn't is precisely because russia looks like it has leverage. we will not with boots on the ground of ukraine. we are not members of nato. it would get more series of russia tries to press a general into a confrontation with the nato. >> with your great work in colombia, and academics like you, frontline monetary -- monetary economist. i think the alan krueger at princeton -- you have sidecar interests. your sidecar interests of germany. what will miracle -- angela merkel do given your knowledge? isobviously, germany

important economically but it tends not to be a main player in the military discussion because of bobby is history. i would expect her not to be leading the agenda but be part of the effort that probably will be driven out of the u.s. you're here today. richard clarida from pimco. scarlet fu has breaking news. >> herbalife will be nominating icahn additionalpro-carl designees. carl icahn's company is the biggest shareholder in herbalife. another interesting point is that bill ackman's investment, his short position, is close to breaking even. >> i did not know this. >> a bloomberg exclusive. >> rendon greely -- brendan greeley, this story have a life of its own. >> i don't understand the obsession. it is just a ponzi scheme. >> not going to carl icahn. >> what did i just do? >> an exclusive from brendan

greeley. back on herbalife as well. never ending story. >> let's get to the rest of our company news. one of jpmorgan's top bankers in asia leaving the firm. he will resign as ceo but -- of investment banking as jpmorgan is investigated by the u.s. for its hiring practices in asia, looking at whether the firm employed people in the region to win government business. nokia and microsoft deal delay. nokia said the sale of its mobile phone division ii microsoft will not close until april. the companies predict that the $7.5 billion deal would be completed by the end of this month but talks with regulators in asia have dragged on, leading some to believe more concessions may be necessary to get approval. cisco sets its sights on the cloud bank. it will offer a billion dollars computingcloud services to corporate customers, putting cisco and competition

with amazon which is the leader in the market. story.w that everybody is in the cloud. all of my radar is up. too easy. >> i think a bigger thing for cisco is they need to get away from networking gear. clout and internet, the buzzwords. >> a busy "bloomberg surveillance" this morning. >> apple tv, apple and comcast may have a deal for set top rocks that streams video. could this be the long-awaited apple tv? it brings us to our twitter question -- what would it take for you to cut the cord? our producer courtney collins already did it and she is spared $180 every month. this is "bloomberg surveillance" on bloomberg television, streaming on your tablet, smartphone, and bloomberg.com. ♪

>> some breaking news from grub hub, offering 7 million shares as part of their initial public offering. looking to price the shares between $20-$22 a share. it will be offering in total $4 million of shares, and selling holders offering just over 3 million shares. >> can you describe what they do? internet that form where you can order food online and then they will deliver it. you don't have to talk. this is your daily meal, isn't it? >> grubhub, happy eating. brendan greeley. >> i have advised -- buy electric bike companies. all the delivery services are using electric hikes. -- bikes. >> brendan greeley leveraging the news over to electric bicycles.

has the important news item. >> broken the last 12 hours. according to "the wall street journal" apple and talked with for a streaming service that uses an apple set top box. discussions are in the early stages, according to people familiar with the situation, but possibly the best indication yet apple will finally offer consumers an incentive to cut the cord. >> let me talk to brendan greeley. i have no clue what scarlet just said. can you translate this? >> until now, there have been a couple of basic agreement in place completely unenforceable that said no content provider can have any service faster than any other content provided. apple, youtube, anybody who makes video, they can get to your house any faster than the other, they cannot pay to get there faster. that is about to change. you have netflix saying they are willing to pay comcast to get

faster to your house and now apple. the only reason to have a deal is if apple can get to your house faster than anybody else. comcast doing it because of nbc or is comcast doing this -- i mean, this is a hardware distribution deal. netflix is more content distribution. >> they are doing this because they can. comcast has an absolute chokehold over a third of the american market -- they may after the time warner deal. they are losing pay-tv subscribers and is a revenue they are not getting that they could be getting. >> what is it mean for innovation? >> long-term it is a real problem. you have companies that are established by now -- apple, netflix, google -- trying to figure out how to disrupt tvs. the second they can get into a comfortable relationship with cable providers and tempe extra money they can keep any the companies from innovating. we don't know what the next netflix is but netflix may be able to prevent that from

happening. you are confused, because when you talk about appleview are just looking at use of cash and whether it is overvalued or undervalued. we spoke to the legg mason chairman last week and this is what he says about apple. >> trades at below-market multiple in terms of p/e ratio, has more cash on its balance billion,ose to $160 the most profitable company in the history of the world. >> apple is his biggest holding. and richard clarida from pimco as well. this is not your wheelhouse. do you use apple tv at home? >> i use it for everything else. but, no. >> the apple tv you are talking about -- about right now is the hockey puck. >> did you say hockey puck because he spent the whole weekend in a rink? >> i did. >> we need to do more on this. >> we will be speaking to an analyst in the next hour to find out what it means.

>> brendan, i am thrilled you are here get i simply don't get it. i don't get apple tv. >> may be this way -- what would it take for you to cut the cord? you pay for cable television. $180, $200 a month. -- tweetn of apple tv us. what would it take for you to cut the cord? more bloomberg television coming up after this. ♪

>> good morning, everyone. i'm tom keene. with me, scarlet fu. our special guest cohost, brendan greeley from "bloomberg businessweek." right now let's get to the

morning must-read. >> the question posed is where do most successful americans come from. in -- writing in "the whererk times" boston is you find a lot of successful people. with numerous universities, it is doing in innovative ideas. it is an urban area and draws plenty of immigrants whose children are given to apply these lessons. >> i lived it. the school system. richard clarida from pimco as well. the important part, fenway park, people say that is the major reason. i am sorry, it goes back to early 19th century, elementary schools and public schools. nothing to do with harvard and m.i.t., bentley university. >> absolutely. there are a lot of factors at play. i would not say boston is unique in that regard. there are other cities as well

that will show up on the list. but it does have that combination. >> of the melting pot idea. my grandma used to sit on the couch after the third scotch and talk about the decline of boston in the 1930's. there was a real slowness to boston and they had to reinvent themselves. how do other communities reinvent themselves right now? --t will we have seen >> what we have seen the last 30 years is the accelerating trend -- success builds on itself. property values go up. i got to new york in 1988 and the city has been transformed. arehe other direction cities that don't have those things together. >> where did you grow up? what marine corps base of all across america. you thati can tell this explains boston's deep resentment toward new york there it they are famous and working hard. and new york is dimly aware that

boston exists. >> and no respect. >> this is very true. michael mckee in our next hour will discuss the tension, the social chaos, something to do with the red sox and the yankees? how did he go to spring training and you and i are not at spring training? practicee to go to the back in summer time before hockey season begins. we will actually go to mike mckee in florida shortly because we are asking, are sports stadiums a bad investment? he will discuss the economic benefits and risks next on "bloomberg surveillance." ♪

>> good monday morning. "bloomberg surveillance." i'm tom keene. with me, scarlet fu. brendan greeley joins me from "bloomberg businessweek."

the president will be in the hague. a lot of russia and chromium politics gets in the way. stocks, bonds, currencies, commodities. risk on. up.ties are the rubel does better. stronger russian ruble. hydrocarbons go nowhere over the weekend and into monday morning. >> chinese stocks rose even though the pmi was disappointing. >> like a big -- looking for direction. the last week of spring training, even though it is 30 degrees in new york. baseball fans are in florida to catch a glance of their favorite players. is the inflow of visitor giving the local economies a boost to justify the investment in stadiums? economics editor mike mckee is trainingd sox spring field in florida. >> good morning. i have to tell you, a little cold here this morning, only

about 71 degrees. tom, he will be turning green. an interesting thing to watch. the stadium is only a couple of years old and it is amazing. up north the red sox play in one of the oldest ballparks in america and down here, one of the newest. although sometimes it is hard to tell the difference. they call a friend way south with good reason. sure, it looks ultramodern from the distance but it is what is inside that would count. tom, i know you start your evenings at fenway with the beverage of your choice. at fenway south you can do the same thing. fenway.t is a same seats and seating configuration. build to look just like the part. not a replica hand-operated scoreboard but the real thing. this one used to be in fenway did they took it out in 2001, refurbished and brought it down here. even yankee fan scarlet fu knows

it ain't fenway without the green monster. replica.uild a when it is time to eat, what are you going to have? a fenway frank, of course. and i have one for aj, one for tom, one for scarlet? i think tom is going to want a lot of mustard. i think it is safe to say you would love it you. -- love it here. the stadium was built by lee county and given to the team. is it a good deal for lee county? that is what we will be talking about today. >> wonderful, mike mckee. great to see you down there. you look great in a red sox shirt. i notice there is no $35 parking. only $10.is but for the grapefruit league, that is really expensive. but everything at this park is first class. the question is, is it worth it? is a sportsr

economist at the university of south florida who has studied all this. he is kind enough to join us this morning from tampa. dr. porter, the county says it is worth it to spend hundreds of millions of dollars to bring the team in but your research suggests it is not correct. >> good morning. yes, that is what i found. that? is the county says we bring a lot of people, they come from ice cold places like minneapolis and boston and they spend a lot of money in our community, so it is a good thing. a couple of points are important. first off, we never really found any evidence that ring training has much to do with the amount of spending that goes on in any location. for example, we see teams moving around, so you can very easily look at a county and see whether or not the team comes to the county, do the sales go up, and if the team leads the county,

does the sales go down. and we have never really found real evidence. alleven if the claims of these people coming are true, the amounts of tax revenue generated by the spending that the state claims is not enough to cover the operation and maintenance cost of the stadium. of so, the purchase price the stadium has to come from some other source. >> people wonder why did they do it. is it something about baseball, is there something about sports that drives cities to build these palaces? >> you know, i have always wrestled with that question. looks good. a lot of people do come down there, and as you say, the stadiums are beautiful, and very modern and very chic and a lot of people come there at one point in time. so it looks good. but i think too much of politics is what looks good and not what israel. so it is appearance of that i think politics are driven by. go from here to add

additional sports palaces, or are the american taxpayer starting to get to the limit of what they will pay for these things? >> i noticed an interesting trend in south florida, in miami and dade county. they built a brand-new stadium for their baseball team, which is not necessarily the most favorite team -- they have a heat and the dolphins as well. at they bill the marlins baseball stadium and the marlins immediately cut their spending on players to the bone. the team was abysmal this year, and the stadium is my -- has mired the city in debt. they asked for funds to improve dolphins stadium and the legislature said no. maybe the trend is changing. >> dr. philip porter, thank you very much for joining us. a sports economist at the university of south florida. he studied that's quite a bit and finds no real benefit to the community.

next week will talk to someone from lee county thinks it is worthwhile. >> you have studied it very much. may i presume you are going to arizona after your junket in florida? >> that would be a great presumption but i don't think management will go along with that one. >> i wonder, though, spring training takes place from one month during the year, right? and they built this incredible stadium, fenway south, jetblue part. what is it used for throughout the rest of the year? like all the stadiums that pop up when the olympics happen every four years and they never get used again. >> seriously -- i kid you about being down there. seeing the next world champions. but what is the backstory? what have you observed about the new spring training? they do attract a lot of people to the games. we have been to about four

different games down here in different stadiums and they have all sold out. the question, as scarlet says, is what do you do what the facilities and can you make money other than the six weeks in the year that they play baseball? they do use them in some cases for minor-league teams and they use the field for collegiate baseball tournaments but is -- but it does not pay for the cost of the stadium. clarida, you are a cardinals fan. when was the last time you were at spring training? >> maybe about eight or 10 years ago. >> what happened? why the drop off? i do other things -- but i'd lost interest in baseball over the years. >> that is what they are struggling with, versus football and some of the other sports. i think it is a real challenge for baseball. my major focus is to speed up the game. michael mckee, thank you so much. he will join us in the neck hour as well from spring training. i love the red sox focus.

a redckee looks great in sox shirt. >> more mike mckee and the next hour. also coming up, uncertainty and unrest taken their toll on emerging market currencies and the dollar dominate. our single best chart is next. ♪

>> good morning, everyone. "bloomberg surveillance." good monday morning. the president is in the netherlands. and del potrordam to the great international body, the hague, where the g-7 leaders will meet. a ukrainiantake out naval base, happening about 2:00 a.m. eastern time. the president greeting but that's. i'm tom keene. scarlet fu. our special cohost, brendan greeley from "bloomberg businessweek." >> we will give you the latest on malaysia. a development in the search of the missing malaysian airlines jet. the crew of a chinese military plane reported seeing objects floating in the water in the south indian ocean. the china state run news industry say the crew spotted two relatively big objects and smaller ones. it is possible the objects could

be retrieved today or tomorrow. this is a huge breakthrough. a report commissioned by new jersey governor chris christie clears him of any wrongdoing in the george washington bridge and a. reports thek times" review costed a million dollars of legal fees and completed by a law firm with close ties to the administration. victims of a massive mudslide in area inle at -- rural washington. the mud is 15 feet deep in some places, which has slowed down the rescue effort. those are your top headlines. >> futures up four, dow futures up 30. >> we picked this up because of our guest host. marketsthe emerging underperformed the s&p 500 since april but it is not just equities underperforming. a basket of currencies known as the fragile five, invented by morbid family, underperformed

the trade weighted dollar. come -- compiled by rbc capital markets. the fragile five relative to the dollar. the average of brazil, south africa, india, indonesia and turkey currencies relative to the dollar. they dropped more than 15% since april of last year versus a gain of about three percent in the trade weighted dollar. >> richard clarida, i want to congratulate pimco. way out in front on the challenges of princeville. just subpar international economic growth. >> three of the fragile five used to be in the brics. the challenge in the fragile five is that many of them have not only been growing slowly but their potential growth -- it has been marked down by the imf. deficits andtrade people wake up especially after the tapering and they say, where are we sending our money? we are sending money to countries below the rate of the

u.s.. >> over the weekend about china, could be the fragile five. you you wake up in the morning thinking we have a 1998 or an asian crisis imminent? it is imminent. there are a lot of differences. a lot of the countries have floating fixed rates -- floating and not fixed rates. i do not think we will have a replay of 1997 or 1998 but that does not mean there aren't a potential downside. it will just look different. >> fascinating where we are with, as you mentioned, at the top of the hour, the stability of market signaling a calm this. >> especially given the fed is not doing the tapering and the markets know there will be less liquidity, and the bank of england changing -- >> and also seems like we are at a point with some of the countries, particularly brazil and india, where growth can only go so far without really a corruption, and this cannot be solved by rapid growth. example the, for

infrastructure, there is political tension over -- between a soccer stadium and infrastructure. >> what were the five nations? >> brazil, south africa, india, indonesia, and turkey. trying to help out of the university of chicago. >> they are happy to have him running monetary policy for india and i am sure he will run a good policy. but these countries have challenges far the on good conduct of monetary policy. the issue going forward is the growth model of many of these countries needs to be rethought and recalibrated. >> the growth model of the united states needs to be rethought. policyking of monetary and growth models, is it time for the fed under janet yellen to level with the markets? richard clarida from pimco telling me what his impression of janet yellen was of said chair? coming up on "surveillance."

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>> this is "bloomberg surveillance." i'm scarlet fu with tom keene and our special guest toes is brendan greeley from "bloomberg

businessweek." apple and comcast in talks over streaming service. theapple set-top box with programming special treatment on comcast cable to avoid congestion. all of this according to "the wall street journal." for apple it would ensure programming will be sped up to customers home without being slowed down by congressional. light squared will be able to follow billion dollars to finance its exit from bankruptcy. it comes from a credit suisse light squared could secure the loan if it met certain conditions. light squared sought bankruptcy protection two years over -- ago. google working on making its devices more in tune with what you want. an interview with charlie rose -- >> making the devices work, making them understand your context. -- what you might

need. and just getting that all to work. we just recently did comcast. starting to work on televisions. wearables. so really having commuting understand you and understand the information -- we really have not done that yet. comment from larry page of google. and he reiterated his displeasure with the nsa spying program. that is today's company news from the files of "bloomberg west." >> i don't get the sense anybody is engaged in what tech people think about nsa. >> people are waiting to see how it shakes out. brendan, help me. brendan greeley from "bloomberg businessweek." why do i care about what larry page and mark zuckerberg think about the nsa? >> they can't be engaged. the problem is, there have been gag orders on this companies

that prevent them from talking publicly about what they were asked to do. what they have been begging for is the ability to actually talk about what they are being asked to do. that is a real problem. they know they have a reputational risk. they can't cause a fuss and make us care about it until they can talk about it. the rest of larry page's interview with charlie rose tonight on "charlie rose." of the moment. we focus on the 10-year yield. the pros focus on the short-term space, like richard clarida, the two-year. it continues to advance modestly higher versus where it was in 2007. it got a long way to go. richard clarida, global strategic advisor for pimco. it barely describes his competence in economic and monetary therapy -- theory. do you want to go back to the academics? to keep -- teach, so i am fully engaged. >> are you fully engaged with

janet yellen? how did she do? >> up until now, many of us have been yellen watchers and she was a very forthcoming vice chair of the fed. but now we have to be fed watchers. she oversees the committee, the full strength of 19 members. i think one thing we are finding out even earlier than -- in her term is the committee is not necessarily aligned with the views on key issues. we had deadly a few weeks ago saying the fed will not aim to get inflation above two percent weeks ago saying that. also the view about how to do forward guidance. i think it is fair to say the committee is divided on that. quality of this institution that jenna bernanke handed janet yellen? >> i think the quality is first rate. the challenge is both said's plate is full. in addition to monetary policy

they have a major role in macro-prudential supervision, and all the central banks in the world, bank of england included, are trying to figure out how to operate in a new world where you are setting rates not just based on the economy but also financial stability. >> brendan greeley, you have a morning must-read from mark carney from the bank of england. >> over the week and i looked at a speech he gave last week in london, and he asked a pretty profound and terrifying question for a central banker which is, what is the bank of england for? he answer the question -- >> what he was hinting at was that the bank of england is now with montee ball not just for monetary stability, but also bank stability. that is a change. meanre important, doesn't

janet yellen's mandate is different from alan greenspan's? definitely different. although the fed has always had some role in financial supervision, it has been very complicated in washington and we have the new financial stability oversight council and we have many new responsibilities on the fed. are movingansactions away from banks back into the shadow banking system and they are groping on how to -- >> brendan, i know your colleagues have written a lot about this. >> of financial oversight council is a bunch of different agencies. they meet but they don't have power like the bank of england does. do you worry the u.s. is not as consolidated in terms of both monetary and macro-prudential quality as the bank of england? >> we chose to divide it among many agencies and they chose to centralize it. i think the fundamental challenge, however, is the fact that macro-prudential is like mom and apple pie. everyone is in favor of it but

no one can define it. we are putting a lot of emphasis on the role of central banks to do something that they have never done very well, and they have not done too much of, and now we are defining on-the-fly good >> using a lot of words to do it. we had a single best chart last week showing the number of words in the fed statement has increased even as the balance sheet increased as well. i wonder if the language will become more tortured as the fed tries to hit on the nuances of exiting qe and normalizing interest rates? >> absolutely. the challenge is, ironically down the fed is being transparent. what the transparency is revealing is a very divided committee. under chairman greenspan we had more of a crisp message. he really oversaw that message. now yellen and to some extent bernanke have been trying to reflect the view of the committee, which is now divided. >> a rite of passage as for professor richard clarida to teach the young ones in columbia is islm theory -- money stuff

and then real economy. yellen, marior draghi and others, are you ignoring the real economy? >> i will not speak for them. absolutely not. the real economy around the world is challenged. from is still the hangover the global financial crisis. there are a lot of things we don't well understand. if you told me five years ago we would quadruple the fed's balance sheet and will have one percent inflation i would say, no way. we are learning as they go along. chairman yellen last week said we think the hangover from the crisis will be here in 2017, 2018. >> mikey message of the gdp forecast -- the new american subdued to .1%. richard clarida, greatly appreciate it. with pimco. forex report. the ruble a strong go. -- a stronger. the market is speaking and they are buying it.

the yen churns this morning. the place as allover this morning. coming up in the next hour, back to spring training in florida with the head of baseball operations in fort myers. red sox spring training. on "surveillance." ♪

a ukraine naval base is

seized by the russians. seize moldova? debris in the its southern indian ocean. and michael mckee visit florida spring training. good morning everyone. this is "bloomberg surveillance." we are live from our headquarters in new york. joining me is scarlet fu and our special guest, brandon greeley with businessweek. and jeffrey hayzlett is joining us from the hayes led group. -- hayzlett group. let's get to our morning brief. manufacturing data for march came out overnight. they showed weakness for the fifth straight month. there was growth in manufacturing services.

france improved and terminate also showed manufacturing activities close to the highest in three years. as for economic data in the u.s., not a lot going on. we're getting a market pmi. this is a read on u.s. manufacturing. no company earnings of note today. the president arrived in amsterdam this morning to head to the hague for a meeting with world leaders, minus russia. >> this is front and center in the news. crimea and the naval base is the top headline. let's get to monday company news. >> where starting with apple and comcast. they are talks over streaming services. you can get for brimming special treatment on comcast cable. this is according to people in

the wall street journal. this would help apple in sure that they would be sped up to customers. they have been slowed down by web congestion. of jpmorgan's top bankers in asia will leave the firm. he is leaving after 12 years with the bank. are being after they investigated for hiring practices in asia. into whethering they employed people in the region to win government business. herbalife agrees to nominate three of carl icahn's candidates for the board. they share confidence in the prospects. if approved, he will have five of the 13 board members, making his stake the biggest. front and center of the weekend, news from crimea. hours ago, russia seized the last remanding bastion. it is a ukrainian naval base, simply gone. leaders gather at the hague in

search of a response. hans nichols joins us from the shores of the atlantic ocean in south holland. who will greet the president at the hague? tell us about the g-7. he has already landed. he was greeted by the prime minister and they went on a tour. we hear that the helicopter it here and he will be landing for the summit. he has called on the sidelines of that, the g-7. he has one of the most important meetings of the day in a couple of hours. he will sit down with the president from china. the question on all of this is how much intelligence gathering is going on. he will listen to his counterparts to see how far he can press them to go along with him and increase sanctions on russia over crimea. binary.hink of this as

this is not greater sanctions or sanctions against industry. the u.s. wants to continue to turn up the dial until they think that they have put enough pressure on putin to make changes. this is incremental. not big changes. >> you are a great juden of german political economics. what did you learn about the german response over the weekend? president obama and chancellor merkel? >> you do not need to know anything about german history or economics, you just to read body language. angela merkel is upset. i could use other words, but i probably should not. she is now more in line with president obama. she is trying to push food and. relationship,a but it is merkel that you will want to watch for the european union response. itshe comes down for

increased sanctions -- so far, they have been against individuals, not industry. if he goes to industry, that will mark escalation. obama will need the europeans to go along. >> in the last two weeks or so, it has been the british who have been most reluctant to impose sanctions. is there any sense that that is changing? we don't have a strong sense of day-to-day interactions. what is happening with the property market in london -- pick a european country and you will find an economic tentacle. whether natural gas or oil or real estate or defense contract. so many different integrations. it is the success of the post-cold war era.

integration is sometimes dependence. that is the argument against why some countries are reluctant. watch merkel. she seems to be upset. no disrespect by saying, i would not want to be in a room with her when she is upset. >> when you look at her being upset, what is the next step for vladimir putin? nato leaders talk about soldiers of the border. we learned about mold of on the map. i had to look it up. is there another shoe to drop before putin will adjust the dialogue? >> yes. if he decides to move troops that are doing training exercises on the border with ukraine -- that changes the dynamic. people said that about crimea. it changed the dynamic marginally. you do not find a lot of experts in europe.

they do not think that crimea will return to ukraine. to keep status quo and keep ukraine in current borders intact and not have more infringement -- the idea is that they will one day get crimea back -- that is not on the agenda here. what you are hearing is punishing putin, but not reversing the damage. >> thank you so much. what i am looking at is western mulled over -- moldova. this is attached to romania. >> erik schatzker and i spoke with the prime minister earlier this month. he had just finished meeting with the vice president at president of washington about financial aid packages. he was very nervous. >> hans nichols on his tour of the day. >> our guest host is jeffrey hayzlett. tt is the ceo of the hayzle

group and former cmo of kodak rid let's talk about general motors. the u.s. government is looking into whether they committed bankruptcy fraud and not disclosing ignition switch defect that have been linked to deaths. the ceo has apologized in public for their handling of this. she now needs a follow-up. what is on her to do list? >> sue was also involved with product development before she became ceo. it will be interesting to see what her history was with the product and with the line. was she involved or not? responsehave a direct and what she gives to this committee in terms of being able to tell what she did or did not do. she has to be a part of it. >> will she have to fire prominent people? >> it will be interesting if she has to fire herself ran i do not

think that will be the case. , 12-13 people have died. if you look at the number of outlaints, only 213 total of all of the cars that they have sold. it is a small amount. how did the bubble up? was it as massive as we think? we think so now because there have been deaths. bad, bad, bad. 200 some complaints is not that many. >> the target cover that was on business week -- you are the marketing guy. would you define the new marketing? what is marketing in this digital age? >> marketing is the inception of the idea through customer satisfaction. that is how you should define it. most think it is advertising work medications. it is more than that. it is also strategy in coming up with a product.

would we want to do and how do we want to do it? what will have customers thinking? >> i'm glad you did that. i think it is about advertising and i am wrong. let's do a data check, stocks, bonds, currencies, commodities -- i looked at euro, up. ruble, 36.12. up, apple and comcast may be on the verge of a new deal for a set top box that streams video. will that be the future of tv? what would it take for you to cut the cord? tweet us. ♪

>> good morning. our guest host is jeffrey corporationswhat you to meld strategy into tactical execution. your tv, the over-the-top television -- help us out here. everyone is battling over the top. >> that is what we do here at bloomberg. being able to watch her television on your laptop or

device. you are saying more content being developed that is not brought cast. you are seeing more and more companies -- i will do this myself at the national association of rod casters, some of my own channels that are different from those that are broadcast. things that we could not bri ng to broadcast. we can bring them on demand. >> is this an ad on to mainstream media? or is it replacing a part? >> a little bit of both. behavior ofat the the customer will be. it is changing. our children are watching on tablets and phones. the behavior is changing. more people will move away from the mainstream broadcast into more digital. that is why we are seeing the things that apple is trying to do and others are trying to do. >> is content still king? >> always will be and always can

be. especially when you talk about google and the search engines and video driving that. video is the most searched items there is. it has the highest rankings and it is what every marketer wants to have. >> content, i think of disney and espn -- >> anybody who has any intellectual property -- whether it is pretty -- >> or ugly like me. >> we are i can be. it is always about driving content. people like to see it. the $1 billion spent on march madness is still a big-ticket item. >> you will never go away. that is why they talk about the death of television with ott. it helps. those things just get bigger and better. onlineing else photos go or through on-demand platforms

or streaming. >> think you so much. brendan greeley is with us as well. we will talk to you about where tv is going in the coming months. "bloomberg surveillance" -- a busy week ahead. michael mckee is at spring training in florida. also, going to moscow next. ♪

>> good morning everyone. busy monday morning here with futures up for. scarlet fu is with me. our special guest cohost, brendan greeley -- far too much time at bloomberg businessweek. with us is jeffrey hayzlett. say, ard him recently new kind of marketing for america. we have top headlines. >> an update in the development

for the missing malaysian airline flight jet. an australian navy ship is searching for possible to bury. the objects were spotted earlier by a crew of the chinese plane. relatively bigo objects and a number of smaller ones nearby. a report commissioned by chris christie clears him of any wrongdoing in the george washington bridge scandal. thatew york times reports it cost taxpayers $1 million in legal fees and was conducted by a law form with close ties to the administration. at the box office "teen warriors" topped "the muppet." it is the latest in a string of films from lions gate are getting young audiences. . those are your top headlines. chilean woodley is the next jennifer lawrence. brendan greeley is in charge of young adult movies.

what category am i and? "divergent?" >> she went toe to toe with george clooney and did not lose. all i watch is "thomas the tank engine." >> i watched filming on park avenue -- dead serious. 5000 people showed up. they looked at me and said you are too -- >> let's move on. this is a big story. tole in talks with comcast team up for an internet-based television service that will get special treatment to make sure they bypass congestion online. this is according to a report from wall street journal. we're joined with other telecom deals reporter, alec sherman. is this the long-awaited tv that everyone has been waiting for? >> no. this is --

bloomberg reported several months ago, right before the comcast and time warner deal was announced. time warner cable was in talks with apple to be to come up with a streaming product. it is open natural that the company acquiring time warner may restart those talks. the other key point is that this is not particularly new. sources i have talked to for years have told me that apple and comcast talk all the time. they have had discussions about how a product might work that ties together apple tv and comcast services. the key is that this is not a so-called -- jargon, ding me for over-the-top television. television delivered free pay for a package outside of the cable bundle. tvt this is is that apple means you can use apple's interface, but you will pay for comcast. they are negotiating some kind of side deal that will take the

internet to the congestion out of the mix. it will not revolutionize television. is it possible to look at the netflix deal with comcast and also this potential deal as a change in the way streaming media works? he used to be about the quality of your service and good your offerings were. it may turn into the quality of the deal that you can make. are we looking at deals defining the service quality? >> to a point, yes. what will happen is that all television will become internet delivered. the idea of cable television -- cable wires being separate from internet. all of that will blur together. we areat happens, what going through is a process of deals where you can say, can i

start something outside of the normal way that we deliver internet? one for congestion reasons and two, in case they start hurting for usage. most people pay a flat fee. you will be charged as you have been charged for your wireless plans. the more data you use, the more you pay. of course, with video services -- they cost a lot of money. they use a lot of bandwidth. the deal world could be where we are headed. >> thank you so much. alex sherman joining us by phone. >> let's have a conversation. this is important. what alex said is great. how much innovation is involved? >> this is what i worry about. one of the things that enables netflix to grow with the fact that they did not have to cut deals with comcast or time warner or any of the cable companies.

once netflix is big enough that i can cut deals and pay for this -- i do not know how the next netflix will happen. i do not know what it will look like. they have a huge barrier to entry. >> this is a barrier to entry. everyone wants in the same pool. >> this is more of a trojan horse. smart move on apple's part. they're trying to move their ecosystem into this system. when you have these over-the-top televisions or shows that we might develop digitally -- i have to go through, just like i do with itunes or the app world, go to apple to deliver it. >> this goes to the twitter question of the day. all of this discussion -- his $180 per month? >> what would it take for you to cut the cord? we want to hear from you. tweet us. >> it is a huge story.

people are revolting. >> coming up, herbalife agrees to nominate three people proposed by carl icahn to the board. we will discuss that next. ♪

>> it is spring. it is gorgeous. what a weekend in new york city. a long, cold winter -- scarlet fu spent the weekend at the ice rink. let's have a moment of silence. a gorgeous day here. chrysler building downtown in

manhattan -- new jersey in the ever present distance there. >> spring is here. we will check in with mike mckee later. >> he is in florida. brendan greeley is with us as well. giving us his. >> let's start with herbalife. news came out in the last hour. they have agreed to nominate three of carl icahn's candidates for board. this is a sign of shared confidence in their prospects. haveproved, icon will three of the 13 board members to go with his 17% stake in the company. andy lampert is scaling back his lending to sears. $90.fell to esl had $285, million of the debt. and cisco set its sight on the

cloud. expansion will put them in competition against amazon, which is a leader in the market. cloud.o and the >> we need to talk about turkey. last week, the government blocked access to twitter. it did nothing to curtail use. you covered this for bloomberg businessweek. your take was that the prime minister actually had a strategy in mind. >> he is smarter than he seems. cut off access entirely in 2011. what he did was -- this was a dns block. >> back a technical. >> that is the easiest type of block to get around. if you change settings, within two hours, people had spray-painted graffiti explaining how to do this.

we can ask why he was doing this. and facebook have offices in turkey that subject them to turkish laws. there was a vast, sweeping censorship bill just passed. twitter does not have an office in turkey. twitter is on the side of the angels in terms of protecting free speech. what you have now is him protecting twitter -- i can make the bloc more comprehensive and make your life more complicated. until twitter has to make a decision. what is the long-term land? >> with the twitter do for crimea? >> not that much. >> nothing like egypt. twitter only did so much for egypt as well. even the people who sort of follow this will tell you that you cannot apply magic fairy

dust on conflicts and solve it. >> to pay split is joining us as well. --jeffrey hayzlett is joining us as well. leading other people to apple, comcast, who does it better than america? >> we made a crucial decision in 2004. we decided that we would do facilities-based competition. we would take the phone carriers and put them in direct competition with the cable carriers and have two companies competing all over the country. every other country and economy in the world not do that. they took the phone carriers and dominic cable carrier sense that you have to sell wholesale access to any company that wants to use this space. that put prices way down in socialist countries. >> can we drive the prices down? >> eventually, you will.

most people are doing this because they can. they're trying to protect their interests and former investments. they can do it and that is what they're doing. someone will break and the prices will come down. >> in the meantime, they are not making investments or upgrading infrastructure. >> they are. they're spending on infrastructure. that is not translating into increased speeds or prices. i'm a fan of the because they can approach. this is close to highway robbery. comcast is standing in the middle. >> the only area where you are getting improvement is the wireless side. so many companies are competing. it is hard for them to get -- the intensity we need. >> $180 per month, cut the cord. >> what would it take for you to cut the cord?

tweet us. let's get to a data check. not a lot of economic data. there was data out of china showing manufacturing weekend for the fifth straight month. s&p up. >> good morning everyone. "bloomberg surveillance." look for our digital media out there. well.s on your ipad as i am tom keene with scarlet fu. brendan greeley is with us and jeffrey hayzlett. hayzlett is a bloomberg intervening editor and former kodak cmo. --the news has been there. >> they will now make three additional carl icahn designees to the board. he is the biggest shareholder to

the board with a 17% stake. what does this mean for bill ackman and his bet against the company? duane stanford joins us from at lanta. people thought that he would come in and take his money off the table. this sounds like he is in for the long haul. >> people wonder whether he will join with other manufacturers and take the company private. so far, what has happened is that he is digging in more as endan digs in and he will up with five for board seats on a 15 person board. with this investigation going on, we will be at this for a while longer. >> bill ackman famously shorted the stock. he lost a lot of money and retraced his steps. breaking evene to

on his wager against herbalife. late is thatews of they are asking questions of our herbalife. any have launched investigation. bill ackman alleges that the company is a pyramid scheme and defrauding customers. or will they give a slap on the wrist or will not happen? with all of that uncertainty, people are unsure. it could last six months to a year. the stock has taken a pounding. breakinging ackman even -- >> one way to test whether icahn is sincere is whether he will invest in the company's product. if he thought it was legitimate, he would see an amazing investment opportunity. >> i know a little bit about this company. watch what they do and multilevel marketing.

they will not find anything wrong with him. -- them. they do a multilevel marketing like a lot of these companies do. >> you think the revenue is legitimate? >> i do. there are bad apples like any company. their multilevel marketing and operating for many years. they generate a lot of cash. carl icahn will come out ahead. >> what is the quality of the auditing? >> well, they have had two major global auditors take a look at the company. bill ackman said that he did not believe they would come back clean, but they did. he still alleges that perhaps they are not doing their job. stock are watching and feel confident that these two large companies have looked at them and their global operations.

>> piggy so much. jeff, let's continue with this conversation. is wrong andackman it is a legitimate business. look at amway. why is herbalife not like amway? >> they are all the same. they're all related and have common dna in terms of the way they sell. a lot of these multilevel bargaining companies sell the american dream out of the united states. that is where their strength is. what they do is have one person at the top. ore and the m person at the top makes more. it is a down the line. that is where people think a ponzi scheme -- >> we go down to the days of amway.

look it up. that was brilliant. >> tupperware, mary kay -- his baseball bat that for local communities? we will discuss. ♪

>> good morning everyone.

he was the president of harvard university -- professor of economics. codified the word hysteria. at 3:00ll be hysteria this afternoon. larry summers on "street smart." how was controversial. and we have brendan greeley of bloomberg businessweek. we have top headlines this morning. >> riot police have moved in to clear out protesters from the island compound. they took over the complex and demanded cancellation of a trade agreement with china. protesters were dragged from the offices while they used water cannons to break up the demonstration. rescuers are searching for victims from a mudslide in washington, north of seattle. it destroyed homes and killed at least eight people. more than one dozen people are missing. the mud is deep and has slowed down investigations.

>> morning movers -- the nsa. the story will not go away. we have perspective on that. >> google. what did you call it? goo-gel? they are trading in the free market. up to 11.87. the cofounder and ceo, larry, spoke with charlie rose. he made comments about government surveillance. >> it is tremendously disappointing that the government secretly did all of the stuff and did not tell us. we cap todemocracy, protect users from the government -- we never had a conversation about that. we don't have to know what the terrorist attacks we're worried about. we do need to know what the perimeter is. >> larry page speaking to

charlie rose. pushed back from tech companies. what you think? >> in that same interview, he talked about the best thing to do with your money, giving to another entrepreneur. i think he is right. particularly, google is on the side of the angels. they have been pushing to reveal what they are giving to the nsa. i also have a hard time taking them seriously when it comes to charlie rose. shuffling money through ireland to save billions of tax dollars each year. maybe he could give us that money back and we could talk about surveillance. >> he is speaking from his entrepreneurial perspective. >> engage the american public? >> it does not. it is too complicated and we do not know the information. we don't have it. >> it is like people through their hands up.

>> brenden just nailed it. they are out of both sides of their mouth. >> you can watch the whole interview on turley rose today. that will take place tonight at 8:00 and 10:00 eastern. larry page speaking with charlie rose. coming up, could an apple tv and comcast deal be an indication of where things are headed in the future? also, the twitter question of the day -- ♪

>> this is "bloomberg surveillance." our special guest cohost is brendan greeley from bloomberg businessweek read our guest is jeffrey hayzlett, the former cmo of kodak. nokia and microsoft deal delayed. nokia says that the sale to microsoft will not close until april. they had predicted that the $7.5 million deal would be completed by the end of this month. talks with regulators and asia have dragged on and have led some to believe that more concessions may be necessary to get approval. light squared will be able to borrow for its exit from

bankruptcy. they should be able to secure the loan if they meet certain conditions. they sought bankruptcy protection two years ago after they were blocked, saying and might interfere with military gps systems. arizona lawmakers push a bill to let tesla sell cars directly to consumers. this is an effort to win a proposed factory for the state. they are considering for some western states with a one-point sore but --$1.6 billion factory. that is today's company news. >> scarlet fu on tesla. jeffrey hayzlett is with us as well. are they a car company or something else? >> they are tapping into something that you want. that is with the brand is supposed to do. it is about a promise delivered. they're going to their key customers and saying this is what we're going to do. >> are they delivering a

textbook use of government subsidies? >> that is probably part of it as well. they are taking advantage of everything they can get their hands on. that is what good businesses should be doing. >> we have got to switch gears. a small fans are flocking to florida for spring training. they are rooting on their favorite players. do these franchises benefit the local communities that spent hundreds of millions of dollars each year to support their teams? mike mckee is in florida at red sox training field. why not the yankees? >> good question. we can talk about that later. tom paid us off. this is one of the newest parks in the grapefruit league. it is definitely a palace. looks like fenway park on the inside. cost a lot of money. the red sox are nothing if not a business.

they're taking as much of a subsidy as they can get. the man who gave it to them is the director of lee county sports development. did you people ask why spend $72 million to build a complex for a team that is very valuable, makes a lot of money? it is corporate welfare. >> for us, it was an investment towards him. the facility was built with federal taxes. comes --n or a guest an investment in future tourism. baseballjor league facilities or professional sports facilities, and hometowns, this is a tourism venue. it draws hundreds of thousands of people from boston. we also manage and operate training facilities that draw many people from the upper midwest.

once training is over, our office uses the facilities to h ave 200 days of amateur sports event, like high school baseball tournament and world series. >> the bed tax paid for the construction. you have to pay for the operation. do you make a profit? >> we don't. we spend 1.5 million dollars per facility on maintaining the facilities. at the same time, that $1.5 million generates $50 million of economic impact for the community. when this is all paid for 30 years down the line -- you will have paid $.5 billion. couldn't you have done something else for the community? >> again, it was built with ed tax dollars. those are restricted by state statute two things that you can do with them.

there are people who think that maybe we could have used the dollars to do additional shoreline rainer schmidt project or spent more money on tourism. but, there it was a policy decision. ringve been in the training business since the early 1900s. our elected officials thought that using 20% of our bed tax was important. >> , the question. >> i want to extend mike mckee's junket. how crucial is the competition between florida and spring training in arizona? >> it is very crucial. we are all fighting for market share. we each have 15 teams. having an odd number of teams makes scheduling challenging. to aally comes down

community's desire and whether they find value in the spring training product. arizona governor he aggressive a few years ago. they put out state funding initiatives and were able to attract five teams from florida. they left and went to arizona. >> you have an empty park your. -- here. will you be able to fill that? >> we are looking at all sorts of options. much like tucson has done in arizona. they lost their teams and have repurposed them very well. we have put in a lot of multiuse events. >> director of lee county sports development, thank you for coming out to jetblue park. back to you and tom and scarlet in new york. >> thank you so much.

good morning to boston and new york. i do not think the yankees got enough face time. >> they got no face time. i wonder how much the red sox invest in for meyer -- fort myer. how engaged are they with the community? that is always touted as a benefit. >> the dodgers have a requirement. >> let's get to the agenda. we're are looking at the stories that are shaping the day. >> one of the top stories is the hague and the ukraine. this will not go away. ukraine, but it is really at the hague. it is underplayed in the media over the weekend. here are the president's comments earlier -- i will listen for hans nichols throughout the morning on bloomberg television. this hague meeting is a big deal. >> it is a game changer.

you are headed off to radio. brendan, what is on your agenda? >> adidas in germany. they have to make 2 billion euros in revenue this year. it is a world cup year. tom is an obsessive fan. i will talk about how they will do it. soccer is so important to adidas. >> they did well last year with the final four. >> the general dynamic is they want into soccer. adidas wants into basketball. s one intodida china. >> my agenda is the future of television. there are continuations of talks that apple had with time warner cable. it may not be the apple tv that everyone was waiting for that

will reshape the television industry. >> i think that what we will see at the end of this is that comcast will win like it always does. >> let's get to the twitter question. what would it take for you to cut the cord and get rid of that $180 cable bill? our first answer we will do as soon as the world cup is finished -- how about this? like everything, i cut the cord for money. the ability to choose content is what i really like about streaming. jeff, you said this is the future. >> it will be happening and we will pay for subscriptions for individual strokes. -- shows. this is what the content world will look like. >> third answer, cut the cord a year ago. parents, netflix for kids -- >> we are too old. >> "bloomberg surveillance"

continues. thank you for joining us. special guest cohost, brendan greeley of business week. "in the loop" is up next. ♪

>> good morning, everyone. it is monday, march 24. we are live from bloomberg world headquarters. i am trish regan, in this morning for betty liu.

president obama has arrived in the netherlands for a trip that has been overshadowed by events in ukraine. the president is in a face-off with vladimir putin over russia's annexation of crimea. spotted in have been the southwest indian ocean. three of carl icahn's selections toe been nominated herbalife's board. now the stock is at an eight-month low, and ackman is close to breaking evening -- breaking even. summit -- the nuclear security summit is set to start in the hague in two hours. seven countries pressing sanctions against russia over the annexation of crimea. is there.ls as far as the nuclear summit goes, wh