mone whereto "lunch we typey" together the best interviews in business news. general motors announces yet another recall. bumpys creating one very first quarter. and april full -- fools. remember greece? it is on the path to recovery sort of. this is part of our weeklong series here. billionports the $2.5 empire. we will hear from randy levine

on opening day. let's kick it off with what everyone is talking about. gm cannot seem to catch another break. recall debacle. gm recalls more than a million more cars. a is headed to the hill to explain why they ignored three -- 13killed people. the one it announced last night is tear -- tied to power steering. ads to one from 2010. that car also in the ignition switch recall. the ceo will make sense of the testimony. we will have more coming up as well as throughout the day. gm recalls are not the only

thing washington is worried about. >> let's lead with the fbi. investigating whether high-frequency trading firms break the law. there is a question about timing. trying to sells his book right now on flash trading. this stems from a multiyear investigation that has resulted in at least 79 convictions. >> michael lewis was on "60 minutes" and claimed the u.s. stock markets are rigged because of high-frequency traders. it may not be that he is the high-frequencyng trading to the fore. announcing that there is an weeks ago.on if you >> high-frequency trading of securities good, reduces liquidity. from running the market, bad. if you can get information and

michael lewis talks about this, if someone is dumping, he used microsoft and you have the ability to know that a few seconds before people can execute the trade, milliseconds, the other piece of this that we have to look at is the race for speed is inherently dangerous because that leads people to take more chances to get an advantage and that could lead to destabilization. >> trying to get an edge. that thethis concerned little guy is getting hurt in the high-frequency free-for-all but is that really the case? here is our discussion. >> if you take a look at the front -- high-frequency traders, our view is that the amount of revenue they collect has gone from $7 billion down to about $1 billion. if you look at the brokers and there are pink sheets -- think slips all of the place.

>> eiko lewis in his book is talking about high-frequency trading. and saying that yesterday's is profitable. do you agree? >> absolutely. in as half it was it was 2009. prices that a function of the down sot they have come tight that you are playing for fractions. >> the assets to come down before 2009. it has a lot to do with volume.ty and reduced the broker is doing a much better job. drexel we want to give you a number of views. here is leon cooperman. he was way out front. our market is based on for profit exchanges. dark markets and automatic market makers.

confidence shaking will increase in frequency. then jump forward to what we see in bloomberg view. we have a different story. we have seen that here in the last couple of days. build a trading firms that undercut big banks that instinct driven markets. this is glance versus goliath. is this just about for profit exchanges in the market? >> take a look at what is going on with new york. they're looking to sell appear and they're trying to figure out how to reduce that. >> now they are for-profit institutions. like --e exchanges reveal a greater volume.

if you look at the exchanges as the onesfitable that had been trading and clearing. that is not the equities model. exchanges have declined in value. they are trying to survive. and combining each other. >> --a tough market area tough market. >> people want to believe that the game is rigged as they feel it is. we have seen financial markets come down to trust. that was an interesting one where confidence in the stock market is not a leading indicator. confidencehat drives

is real estate prices, not stock prices. >> and finally, one more item. the enrollment deadline came and went yesterday. before healthcare.gov even launched, testing should big problems. users during 1100 stress tests. on day one, only six people enrolled. by day 2, 248. and tens of thousands idling in a virtual rating -- waiting room. signing up was other story. they announced an emergency text search. main contractor and promoted another. only 106,000 had signed up. ofl behind the target 800,000. males -- most of them came from state run exchanges. enrollment rally. through december 2.1 million

people enrolled. 1.6 nine yen in december alone. through february that number jumps to four point 2 million. leading in the final march to sign up. enrollment has hit 6 million. >> coming up in motors, the auto companies release their march sales figures. we will tell you who came out on top. we will hear from the former chrysler ceo. mary barra. on they have been trading in case there was a russian attack. here is his thoughts and what he saw near kiev.

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x we are also streaming live on bloomberg.com. i am adam johnson. auto sales figures are today. toppingnissan, and ford estimates. there is a thought in the weather that rot people back to show rooms. citing a computer issue. it expanded its recall. over 6 million calls now. barra testifies in front of congress. he talked about what it was about with betty liu this morning. >> when i was at chrysler and gm, it really was heads down, and a conference room with a

dozen or so, for her inch binders going through every document, every e-mail. everything that was turned over to the congressional committees. so that you knew you were going to get drilled area do have -- they had armies of people going through your looking for questions to try and trip you up. mary has taken a very positive forward step here in creating the vice president's office for safety. she has met with the families. she has been very worth coming. she has been very open. you look at the number of documents. this is a critical moment for a new ceo. in on the weighed state-by-state battle trying to expand tesla sales. >> i think he is brilliant in one regard. -- n >> for fighting the auto dealers? >> in his approach. a friend traveled to california. put -- andcalifornia

puts his $40,000 down payment to hold the slot and goes back to arizona. the car is delivered to him on a flatbed. a technician spends an hour with him going through how to operate it. fast forward, a few months later, technician calls and says your 12 volt battery is not functioning appropriately. we will be there to change it. if you think about the year of big data. tesla, rocket focused, customer centric and what they're trying to do to penetrate state-by-state. a customermost like for life. you can only dream of that with a gm car. >> you think about that, if you think about the business models we have here, certainly jack tried that with ford. in manufacturing are looking for

volume to absorb your fixed overhead. would as manufacturers love to have the margin that you service.f parts and there was always that little bit of tension to the dealer network. if you think about the dealers and their franchise agreements state-by-state, they have to mend this legacy. they are very highly regarded in the states. it will be very tough. very powerful. i think the dealers are approaching this appropriately. let's not have a massive fight and maybe lose everything. let's compromise and see what we can get done. do not forget, ohio just accepted. elon musk has a big trump card. i will bill the battery plant somewhere. i will do it in a friendly state. >> there are a lot of people teslas test was -- besides bob nardelli's friend.

a♪ >> from pricey cars too pricey

teaching methods. how teachers are incorporating technology into the classrooms. at it again. they're getting others interaction. april fools' day pranks. and look at this. that is the world's largest errors will. it is called the highroller. it soars 550 feet. enjoy the ride. ♪

>> this is "lunch money goes

quote on bloomberg. it is april 1. a day when jokesters and businesses unite and enjoys the tradition of pranks. google has owned this tradition starting back in 2000 with the mentalplex. romance.lf, google only the brightest minds could innovate and spend all the time and money on ideas as great as these. here is what they came up with this year. >> we seek to hire the most exceptional people. today we are announcing a new job role and challenge.

pokemon master. >> i like google knows better. >> can a word smile? can it whirl its eyes and say sorry, not sorry. it provides context. if someone were able to say i am flirting with you or i am mocking you, that would make my life a lot more efficient. do. is exactly what emojis emojis.e translate for still some down to clear, articulate, meaningful symbols. rug.a >> i wondered what a shy snowman look like. their tradition

down to children. they even brought richard branson along. >> a partnership with the wonderful company nest that allows guests to control their own personal climate at 35,000 feet. at nest we focus on creating simple, personal, and intuitive user experience is in your home. we created a new interface called total temperature control. every passenger will be able to customize the temperature from their seating area to a wide range of preset climates. >> it seems like a no-brainer that each seat should be able to have its own temperature control. >> if you would like to feel like you're sitting in a tropical hair dyes. or simply slot -- select cancún afternoon and soak it all in. or if you run a little hot like me, i desire a cooler bride, that is no problem. just to let -- select chicago

roller vortex and feel the chill. >> nailed it. richard branson looks so relaxed. -- they are also looking for a little april fools love. >> we found out users spend around three hours a week stuck in traffic. three hours. >> we are about bringing people together. we said why not make it even more personal? and this is how we came with a new feature. wave date. takes you soly far. now i have wave date. kind of skeptical. can it really come to this, do i really need wave? do.eah, you you can always try the latest fragrance. >> your sent captivates.

a wafting whiffed of pungent desire. pervasive, fermented passion. the smell of hunger. expected yet undeniable. cheeto. dangerously cheesy. >> cheeto. dangerously cheesy indeed. greece. what is the country doing to achieve economic stability? the debate continues. that is next in sports. ♪

>> this is "lunch money" on bloomberg television. i am adam johnson. today's moving pictures where the video is the story. more violence in venezuela. antigovernment activist set fires and question caracas with police. grass,y forces used tear rubber bullets, and armored vehicles to destroy barricades, trying to regain control of the streets. the cities where the antigovernment protests began in february. three days of heavy rain, wind, and he'll have flooded parts of a province in southern china.

it has grounded flights and closed schools. at least 11 deaths have been reported. the severe weather will last until the end of next week. i'm a cynic -- a mosaic floor has been discovered. it was found earlier this year during the construction project, featuring depictions of animals as well as geometric and botanical designs. it will be relocated to a museum or some sort of visitors' center. greece. on greece is onher track. -- we're going to have the best possible result. that, maybe outside investors say that, but what

about the unemployed guy in the street who is relying on his grandmother's pension which is being cut to just get by. how do you stop that silent crisis from coming -- turning into a crisis for the economy and seeing people leave the country because they cannot find work. >> you raise a very important issue. that indicesnt start to improve until the moment that people feel it in their pocket, there is a time lag and this is an important time lag. where the argument has to be presented clearly to the people. and here we should talk openly to people. --should not let population populism stepping in. we have explained that greece has done so much so the country can be saved. more than 85, 80% innocently --id

adjustment has been made. we can face a future with much more optimism. >> david tweed spoke with the former prime minister about what greece needs to do in order to keep moving forward. >> i think we need to -- it is a strongre right -- constitution. which would allow for greater transparency and development. >> can we do that under the current coalition and do you think that will last until 2016? >> it is the -- if the current coalition does move forward it will garner the wider support of the greek society. i believe the coalition can last up it does move in that direction. >> are you talking about new reforms that were not part or are you talking about executing russian mark critz i would say execution. revamping the political system

and the electoral system which has been one of the priorities when i was prime minister. there is one thing i do want to say. greece does have great potential. it is a great investment opportunity. i believe that the fears of political instability are overblown. that youare rumors plan to step down and start your own political party. the joke is that there is only one growth industry and that is political parties. can you say you do not plan to step down and create your own party? >> they are rumors and talking about rumors on april fools' day is very dangerous. >> one more thing that could the economy. startup incubators. when the dutch ambassador arrived in athens he saw opportunities.

>> this is an incubator for young entrepreneurs. there is 60 young people from greece but a couple from holland who that learn how to set up a business. >> this is an initiative of the dutch embassy. they do not usually get involved in economic stimulation. where did you get the idea? >> we are doing it as the embassy but with the number of dutch and greek universities. why are we doing this? we think one of the big challenges is to do something about the brain drain and the youth unemployment that might he the cause of a lost generation if you do not do anything about it. we thought let's try to do something using the fact that we have a very flourishing interesting start up community in amsterdam. >> when you first came here to advance, what was the reaction when you came up with the idea? a lot of people in greece would look toward the netherlands and

say these are the people who are putting the kibosh on us with austerity. are pretty strong negative judgments. some people have strong opinions about other countries but there was a reason to do this. it pays off to collaborate. we want to show that we want to be positively engaged. that worked pretty well. we got very positive reactions. people liked it. you are not only criticizing what you're doing positive things. ofwas served -- what sort start ups do we see here? >> all kinds. half of them are apt builders -- app builders. in the creative sector. >> innovation is happening everywhere. even in school or maybe especially in school. we will take you inside the classroom of the future. we are going to talk pitchers, stadiums, and salaries.

it's called coming up.

>> this is "lunch money" on bloomberg. i am adam johnson. the member flashcards? cursive writing, pencil sharpener's, today's schools have none of them. traineda highly teacher. >> i need someone to read these questions for me. >> laptops loaded with education software and rotating through three activities and you have a new way to teach kids. it is called lended learning. ,nd here in los angeles veronica bain uses it to introduce her ninth graders to

romeo and juliet. >> what did romeo do, what is he referring to? quick students are divided into groups of 12. >> it is hard to adapt to a class of 36 but to a station of 12 it is easy. who steps in to fight instead? a student can get information three to five different ways. another group uses their laptops for collaborative work. >> are you working independently or collaboratively question mark >> collaboratively. >> they use it software that adapts to their reading level. >> use are going through greater -- bigger grades. as some of them are more complex of the questions are complex and that helps to become a better reader. >> what does blended learning allow you to do in a classroom that you could not do before?

>> with this model, it forces you as a teacher to structure your classroom in such a way that no kid falls by the wayside. helps keepgy also them on track. remote desktop to keep an eye on her students. >> here, all of his screens. i would say the exact same thing. this is a spanish class. this person is watching insects versus arachnids. i can click on that and send a message. watchingposed to be this video? it says on dr. rhodes. and then if a tsa screens. using the best will create future success. >> we are seeing kids who can pay quickly and who can't

differentiate from themselves or expect their teachers to do so. not what we had as kids. >> for more on our wiring the world series, and tune into "bloomberg west." one schools transition from textbooks to tablets. hope that -- let's [inaudible] moreo you actually get competitive? >> the first thing that we need to do and this is based on research is making sure that every single child has an effective teacher in front of them in the classroom every day. we now that the data says when a student has a highly effective teacher versus and an ineffective teacher, it makes a world of difference. we need to make sure that there are high students for all

children. we have a set of, course standards that have been abducted gaza country. they are being -- that have been implemented across the country. >> should it be more sweeping reform at the national level? >> reform has to be at all levels. i think clearly the obama administration's secretary arnie duncan has taken a strong stand on what their forms in each state should look like. they have been holding states a cattle through the no child left behind act and things like race to the top. the states has strong rules of play as well. most of our policies in education made at the state level for state legislators playing an important role in putting in place laws and policies of the state level that will impact kids. >> the country with the highest scores in math and science according to the center for international education and

marking, china. the country that beat 44 others in creative problem solving --ng 15 years olds 15-year-olds, singapore. they're ready -- they are way ahead. just one of the first of the the world series champions. they may not be the champs but the yankees are number one when it comes to the value. we will hear from the president of the yankees. that is next in sports.

>> today in sports, two of the hottest teams. they visited the white house for a congratulatory chat with the commander-in-chief. jay carney was so excited he sported a beard.

second, we are talking about the new york yankees. it is the opening day today. teamare the most valuable in all american professional sports, worth even more than the dallas cowboys. wave reported on the pros and cons. nexthe yankees pay for every cet of their construction of the new yankee stadium and they pay for all the ongoing operations of it. training ist bring a tremendous economic boost to florida. i know in tampa our spring training facility, we get a lot of people from the east appear in new york and new jersey, connecticut and this area. ballparksen you build whether it is yankee stadium or

greatield or look at the job berkeley center has done. it provides a lot of economic opportunity for the whole community. here's the problem. what you have in a situation like you have got his people will go to florida anyway. and so you have these models that the teams and the communities put together and try to sell it to their taxpayers. a certain number of people will come and spend a certain amount of money and they apply a multiplier and come up with a figure. a lot of methodological problems have been found with those studies. ,conomists who use actual data spending and taxes before and after teams command do not find any affect at all. when the yankees moved to hillsboro county and florida, tax receipts went up. it went down and hillsboro county. there was not a demonstrable benefit to the city -- the

county from the yankees arriving. you wanta benefit if to see baseball but in terms of tax dollars coming in people cannot find it. >> i think i disagree and that is often the case from academics who are academics and people who are practical let myself who live it and see it. greatk if you talk to the people in tampa, the great city of tampa, they will tell you that there are thousands and tens of thousands of people who will not come to tampa. unless the aggies who are training.ing >> spring training he had a new player on the field. yankeescquired by the in january for 100 55 million. that was a lot of money. >> we looked around, based on our teams need. we needed a young con great starting pitcher. he was it -- available. we met with him and we have -- scattered him for a

long time. -- scouting department for a long time. we met with him and thought he could succeed here. and so far we are expecting real big things out of him. the yankees are about reinvesting in our franchise. that has been the steinbrenner way and the yankee way for a long time because that is what our fans deserve. we try to compete for the world series every year. >> rotisserie chicken is the latest netflix original. 73 minutes of a chicken on a rotisserie. you have sizzling bacon. that is there, too. you can get a lot of mystery meat. it is a little weird. ♪

>> is 56 has the hour. let's take a look. the s&p 500 actually closing at a record. perhaps giving folks hope that it was just the weather pushing economic factors down in the

first few months of the year. so that measure last month giving a little bit of hope on that front. the nasdaq rising the most today up to 1.6%. another big story that we have been following today. it has to do with the fbi investigating high-frequency trading firms. agents are trying to determine whether they break the law by acting on nonpublic information. we asked whether they have an unfair vantage. >> what do you do that is differentiated? >> get every -- information before everyone else. >> it is like tax avoidance and tax evasion. when you get in trouble for and the other is good business. >> tax avoidance. hft. similar to many people think tax avoidance

is unethical. >> you would not want to pay more taxes than you oh, right, so you take your mortgage direction, you would not just walk away. as long as you are acting within the realm of the rules everything is good. if you cross the line, very bad. the guys who crossed the line, they should be where they are. >> this debate being highlighted by the publication of the new book "flash boys." whether it is rigged or not, you can still get a leg up on your investment. adam johnson has a look at one way to do that in today's insight and action. has been some debate as to whether we got a bubble going on in ipo's. we will talk about it. time for insight and action. you can understand why people have been asking the question when you look at the performance of five of the 12 ipo's at we have seen over the past week. look at this. and that looks

bubbleicious. impressivere some performance returns. decided he would crunch some numbers. he looked at the blue bird -- bloomberg ipo index. he compared where we are right now, this is going back to january of 13 through today versus the same time period in 1999 and 2000. by this measure we are showing in percentage change by this measure. there is no bubble whatsoever. over the past call it about 15 months now we have seen an increase of 60% versus 400% back in 2000. by this measure does not look like we have a bubble that is here. you could even argue that ipo's

turn into sweet spot so little bit better than the market without running away. take a look at the ipo fund. this is an etf that was created by renaissance capital. on the year to date basis, they beat the s&p 500 every day this year. >> there may be a sweet spot for those ipo's. for on the markets, i am julie hyman. ♪