>> welcome to "lunch money," we tie together the best stories, interviews, and videos in business news. i am adam johnson. new galaxy samsung's is out and apple stepping up its game. how the pros are using technology to up their games. 's christine lagarde has a rosy outlook for the global economy. have we turned the corner on a recession? the most important meal of the day is getting pricier. all that bacon. the 1990's tv stars, like after the sitcom.

we kick it off with what everybody is talking about, stephen cole berta taking over "the late show" when letterman retires. >> this is a five-year deal between colber and cbs. no specifics on when he takes over for letterman. letterman's final shows will be in 2015. 2005, "thes debut in rt" has been a huge success for comedy central. he will show that to be himself. letterman is very excited about this replacement. s,cording to les moonve letterman told him "i cannot think anybody else." seems like everyone is showing colbert love. >> stephen colbert is up for the challenge. there is no greater joy than

seeing a genuinely good man who works as hard as he can, every day, and deserves all the success in the world. for stephen we are thrilled. >> another person likely to assume a new role, sylvia burwell. president obama nominated her new this morning as his health and human services secretary. kathleen sebelius offered her resignation this week after the botched healthcare.gov rollout. white house officials said sebelius made the decision to resign and was not forced out. one person not to happy with former secretary of state hillary clinton. >> about -- [indiscernible] h, clinton dodged a flying shoe while speaking at the mandalay bay in las vegas. controversial stuff. if you remember, george w. bush in two shoes thrown at him

2008. almost an initiation to the presidential office. >> she is ready to be president. >> that was serious stuff. they could have hurt her. >> the woman was arrested. >> where does this come from? did we identify the woman? do we understand her politics? >> the little reporting i have seen says we do not know exactly what her motivation was. >> curious. it turns out not just politicians get shoes thrown at them. >> there goes, woah. dodged that one. d.c., strange to things happen. his shoesne throwing at peter cook. the next name in the news, bond king bill gross has enjoyed several decades in the limelight as one of the best-known bond investors in the business. he founded and still runs pimco,

home of the world's largest bond trillion dollars in assets. that money comes from pensions, endowments, pretty much anyone with a retirement account. recall in january when il's bond kingdom was shaken when pimco's ceo mohamed el-erian left look ugly. here is mr. gross a few weeks after that. >> were we disappointed when he left enterprise? yes, we were. he will be here until march. , not only theback era parent but the future ceo. i thought i had done my job but obviously not. >> this is bill gross yesterday. >> extremely disappointed. i thought i knew him better. we hired him to be my successor. doesn't make me mad? yes, that makes me mad.

disillusioned,me not really. i would simply say, come on, us why. tell the furor over the past two months in terms of the headlines are quite exaggerated. and it is not indicative of what bes company is, was, or will in terms of our future structure. >> bill gross is still not over the el-erian departure. mr. gross' management style has received mixed reviews, from direct to to radical. it is in the cover story of the new edition of "bloomberg businessweek." "am i really such a jerk?" "dictator" was also thrown around a couple times. >> a leader has to be forceful and dynamic at times. a leader has to allow for inclusiveness and discussion in order to promote and to elevate the best ideas.

have i done that in the past? perhaps not perfectly. we might beke getting somewhere. time for a little introspection with trish regan. the spoke in the article to fact that something like this over the past two months or three months causes one to , the michaelurself jackson man in the mirror. in this case. are you the person you thought you were or are you the person that others thought you were? >> what is your answer question mark raxco i think for the most part, i am the person i thought i was. i am willing to say in this new cio's, itn with our d.c is important to be less of a anong leader and more of inclusive leader. i look in the mirror, i like my hair, it is nice and thick, as

the article suggested. can it be changed and a different style? of course, that is what i'm trying to do. >> what is it that you would change about yourself, beside your hair? >> try to taper it a little bit. -- it is that you true that at certain points i have raised my voice. is that a bad thing? not all the time. frankly, the wing the -- franco, you do not get a pearl unless you have sand in the oyster. littlee bit of sand, a bit of temper, it is incumbent upon a leader to promote that. but not a lot. i am examining myself from that standpoint. is abouttely, this bill gross' future as the leader of his bond kingdom. what does that look like from the throne? >> i will be here for a long

time, we have a new structure in terms of the investment and our deputy cio's. we have a new president and ceo, this company is going for. we do not want to look at the past. billad the full story of gross' soul-searching in "bloomberg businessweek." on newsstands today. still ahead on "lunch money," george the stanza -- georgia stanza. jason alexander in his new standup career. samsung releases its new galaxy leading over apple as the world's largest smartphone maker. a start up aiming high with a helium-filled wind turbine. it would be a record, the world's highest wind turbine. here is a look at this thing in action. ♪

>> this is "lunch money" on bloomberg television. also streaming live on bloomberg.com, your tablet, and your smartphone. i am adam johnson. a lot happening in tech. biggest weekly decline for the group since january. amazon, facebook, netflix have gotten hit. as for the headlines, struggling games developer zynga is losing its ceo of six years. he will be replaced by best buy's david lee. amazon to buy new york' it, ixology. introducing the galaxy s5 today. yesterday, ryan blair

highlighted some of the new features. >> this is the new samsung muchy s5, there is a more simplified approach. it is waterproof. you have to put it in three feet of water for 30 minutes. they build in some protection of the inside. they have done great stuff with the camera. this will be all over the place. the global market will be flooded with ads for this. >> cool. been on a tear with all these selfie related product placements. ellen degeneres, david ortiz. up its ownng marketing. they joined trish regan on "street smart." >> not immediate clearwire they have hired these digital agencies, but they are making moves in the digital marketing

space. marketingve samsung and the. that became clear and e-mails that went public this week. >> tell me about it. >> between philip schiller at apple and his creative agency. basically-mails, he called out the agency for not producing campaigns that were as innovative. alsonovator, they have landed them in trouble, using the president and david ortiz. that is not allowed. selfie,generes and that it feels sort of passing at this point. is masterful at getting attention to look at their phones. they change the game with an ad making fun of people who wait in line for iphones. it really helped units skyrocket. >> how do you characterize the

samsung galaxy? feel like itde it was not cool to wait for an apple product or be an apple fan boy. >> apple is also giving its chief designer more authority. as originally working with the late steve jobs on the imac. break, gadgets to improve your game on this masters weekend. we hear from christine lagarde at the imf-world bank meeting in washington. , the u.s.o break and south korea holding live fire exercise. north korea calls them "war practice," the u.s. and south korea say they are just exercises.

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onthis is "lunch money" bloomberg television. streaming live on every device imaginable, including fire tv. i am adam johnson. day two of the masters in augusta, georgia. golf's biggest name is out, tiger woods is recovering from back surgery. to a strongff start. the tournament wraps up sunday afternoon. augustine national may be established, lesser-known courses have had a tough go

since 2009. the ceo of golf course design firm black night is also the son of pga champion gary player. he spoke with betty liu this morning from augusta. >> we have had a terrible time in the past few years. that thell demographics are tough. you have working parents. playkes a lot of time to golf. it has been through a terrible time. i think the pricing is starting to correct itself, the subprime demand curve is changing. there are more golf course s shut down the new ones opening. it is more of a balance. i one point, we just had too many. too much product and not enough people to participate. we're seeing a correction and that is good news. >> where is the new demand coming from? basis, it isl really more southeast asia, china, india, some of the latin

american countries like r brazil, mexico. there are pockets in the usa as well, mostly in the sunbelt, from florida three texas across the california. where the weather is more conducive to playing. it is not widespread, it is very selective. a lot of people are being smarter as to where they build, how much they spend, and how we market the product. courses, arelf they more members only clubs or daily fee type courses? a combination of both. the resort courses, where you have got a four seasons or the ritz-carlton that are building branded golf courses with jack icholson. -- jack mickelson.

then you have the daily fee golf courses. the public wants are growing as municipalities look for ways to use land that is available. until the city needs that space. pga needs tonk the do more to get people interested in golf? professionalur is golfers and then you have the club pros. been pretty static. if you look over the last 10 years, it is basically 25 million golfers every year. we may gain one million but we lose one million. it is a 2020 program. they're trying to get young people, that is the key. the focus has to be on getting young people to take up the game. they are doing a lot, there is the 2020 program. they're trying to make off a

little cooler and more interesting. it is very time consuming. we try to design golf courses that are maybe only three holes or six holes or nine holes that you can walk barefoot and you can go out with your father or your grandfather and play just for an hour. as opposed to 18 holes in five or six hours. >> inspired to hit the links question mark simon jones, who holds the world record for most golf swings in 24 hours, he showed guy johnson in london some of the latest gadgets to improve your game. >> this is the new launch monitor. it is the simulator type product where it will capture using ball asthe data of the you hit the ball at the moment of impact. it will deliver back key pieces of data. it will also simulate the data as well. tablet down tor their range and it will link

with that i give you a lot of information? >> yes. and you have bits of data on the screen. >> let's talk about other stuff. this is a different way to play the same game. >> this is brand-new on the market, they launched it at the pga show in orlando. they launched it in the u.k. -- >> opened the box. >> an actual device that will clip onto your belt. club.ividual tag for each >> you screw it into the top of each club. >> you measure that shot and it will map out your round for you and deliver back every piece of data. you canving accuracy, then compare and share them with your friends and the best golfers in the world. >> it will know that i am playing on the eighth.

>> they have loads of golf courses mapped out. they are sponsoring the best golfers in the world, jim furyk is an ambassador. ball made from a piece which is lighter, faster than a rubber, has more inertia and is more stable. it transfers energy from your shot into the ball more than a piece of rubber. furtherwill make you go and more accurately. all this is amazing and golf is changing rapidly. what impact is this going to have on the game? >> it will bring the amateur golfer to a better place in the game. they will be able to learn more analyzedir swing and it more. keep up with pros. two ofr the break, date

the imf meetings in washington. we hear from some of europe's top policy makers. also from the head of the imf herself, christine lagarde, on her positive outlook. >> 26 minutes past the hour, bloomberg is "on the markets." i am olivia sterns, let's get you caught up. the momentum selloff appears to be continuing today. it also appears to be decelerating. the s&p down by about seven points, it has fallen about 3.5% since a high earlier this month. the dow down about .5%, nasdaq off by .4%. yesterday, the nasdaq fell nearly three percent, the biggest one-day drop in almost two years. a couple stocks, the electronic company has agreed to buy optics maker zico for $280 million in

cash. the board has voted in favor of the deal, expected to close in the second half of the year. "on the markets" again in 30 minutes. more "lunch money" coming up. ♪

>> this is "lunch money" on bloomberg television. i am adam johnson. moving pictures where the video is the story -- residents of northern australia's queensland state are bracing for the cyclone with winds as strong as 170 miles an hour. residents have been warned to evacuate. some predict sugarcane losses of 5%. in the ukraine, virus -- violence took place. the party is considered friendly

with the kremlin and police had to escort him from the hotel. york, the protest to bring attention to violence in south sudan. demonstrators were arrested by blocking the entrance into the united nations. peace talks are scheduled to resume at the end of the month. the spring imf and world bank meetings are concluding. down for ant exclusive interview with four policymakers, asking executive board members about the prospect for european inflation. >> europe is not japan. we know why inflation is low. we need to be stronger in the single market and the global economy, and for that, they have to cost costs. we know information is low and it will remain low for a period of time.

it is an interest -- issue. we are aware at the ecb that low inflation can be an issue for countries that have to be leverage. it makes it more difficult for them to deleverage. we have a mandate to bring it back to close to 2%. we are aware of our duty under our mandate, and we have been clear in our meeting last week measures are ready to be considered, including nonconventional measures to address low inflation if needed, meaning if further news were to confirm that inflation will remain low for a long period of time. we are ready to act if needed. >> how do you, as an academic, link disinflation to a lack of real economic growth? which is more important, subdued growth or the idea that

disinflation could increase to the point of aggregate deflation. aboutlation is not inflation below or negative. it is about people postponing decisions, investments, consumption decisions. this we do not see. quite to the contrary, we see growth accelerating in the eurozone. this is not deflation. it is low inflation that comes with its own challenges. the imf chief christine lagarde has a positive outlook and here she is explaining with charlie rose. >> the eurozone is finally turning the corner as well, turning positive. it had been negative for two years, and it is now positive. countries are doing better, germany being the best of the lot, and the southern countries of the eurozone such as spain, italy, greece, are

finally delivering positive results as well. if you look at the emerging market economies, they are slowing down a bit, but they are still cruising at about 5% growth, which is, you know, almost double the growth of the united states. now, if you look at what they represent relative to the size of the global economy, they are at 50%. 50% of the global economy is in the hands of emerging markets and developing market economies. if you assume that they grow at that 5%, they are gaining traction, strength in the world." >> therefore they should play a larger role in the imf? >> that is one consequence, you are right. you are right. it also means that their policy, and the impact of, say, the fed's monetary policy on them, matters not just for themselves,

before the global economy, given the size they represent. >> you can watch the full interview with christine lagarde with charlie rose at 8:00 p.m. and 10 p.m. eastern right here tonight on bloomberg television. what has this guy so hungry -- fed burger. we will speak to the ceo about what keeps customers coming back. that looks good. also, we will talk to some sitcom legends on their lives after tv. also, a pair of giant pandas has been found. mother was eating bamboo while the cub rested in a tree. ♪

>> today in eats, artery-clogging food galore. we will start with bacon. we all love it, we all eat it, and we are all paying more for

.t, too alix steel survey the damage. >> world food prices have been specific economics have caused breakfast food to spike. orange production, sugar and to enable market, coffee at a record high on drugs concerns in brazil. it is a similar story here for they can, one of the worst offenders, october 11%. they can prices -- up over you haven't percent. bacon prices were already high. go. is -- where you only about 9.5 piglets per litter after the virus. one piglet is saved for

breeding, nine percent of the litter rate. as he keeps progressing, there will be less pace sent to slaughter, and less feud for us, and there is no cure. >> that you did not know that. the competition for your hamburger dollar is fierce. how does the ceo of fat burger keep you coming through the door ? >> you have to differentiate yourself. fabric started in los angeles in 1992. >> it used to be mr. fat burger. woman had a shack and served burgers to the entertainment community. she had a boyfriend, and changed from mr. fat burger to fat burger. >> all day long all i have been hearing is 2000 calories for one particular venue item. >> some of the milkshakes might be 1000 calories. look, we sold 10 million

hamburgers last year, but also half a million veggie burgers, half a million turkey burgers, chicken sandwiches. we have healthy options. it is 500re, calories. if you do not want mayonnaise on it, you will save even more. everyone and their grandmother started a burger king -- burger chain. we have been doing the same thing for 50 years. everyone is joining the space. you have to stay different, be authentic, and have quality. >> do you have a favorite? >> i like my fat burger plain and simple. chicken wings are great if you like spicy. fan?t a burger what about pizza, one of the planets most loved foods. it has its own world championship. >> when it comes to pizza, it is not just a state wins over the critics. you might need athleticism.

this is the world pizza championship in parma, in northern italy, and it is taken seriously from classic to mouthwatering marinara, to ones that look like bowls of fruit. more than 600 pizza makers dish out the dough to be crowned the world's very best, but if you no dinosaur.u are -- connoisseur. italian] >> the biggest mistake is using more than four or five toppings. >> as far as taste, they are taste on creativity and and preparation. if they want to do well, they have to revisit the roots. >> we try to make what the italians make here. >> this is more than a pizza

party. it is big business according to organizers. [speaking italian] >> if we think of the annual turnover worldwide, we are talking about 72 billion euros, and it is a growing business despite the crisis. >> that is explaining why these chefs come here to compete. they are betting a top prize could mean a thick slice of cash comes back to their restaurant. >> next, straight from your 1990's television set, jason alexander on his new startup career. ♪

>> before you finalize your taxes, we're trying to help you

out here at bloomberg. tune in monday with a special day of programming -- from the strategy, taxing america, all day, all monday. forn alexander is famous playing george costanza on of the mostone successful sitcoms of television. he is also a standup comic. he joined stephanie ruhle to talk about his new vegas gig. >> i began in the corporate market, performing arts, and then casinos and nightclubs. about two and a half years ago i started performing under my own name and if you are doing standup comedy, vegas is mecca. >> let's talk about your own name and the value of a brand. actorartist, musician, wants to have a brand right now,

and you have a brand associated with george costanza. has that been a positive or a negative? >> i would say it is a net positive in as much as -- you know, most actors, if you really want to look at us as rands, -- brands, i guess, we never get that kind of status. it is rare that an actor gets to do something that is labeled iconic, that has real staying power, that seems to appeal to every demographic. that is what the seinfeld show accomplished. it not only did it when we were on the air, but it continues to sustain long past our expiration date. for me, that has given me an enormous entrée throughout the world, which is a great thing for me. i enjoy people, i enjoy meeting people, and it opens a lot of doors to things i would like to do. i would be disingenuous if i did not also add that it also closes

some doors because there are certain people, executives, directors, who say everyone thinks he is george, they won't accept him as anything else, and we will not hire him for anything else. they are always wrong about that, as per -- audiences are smart, and professionals get it wrong. vastly, it is a net positive. i'm very happy to have had the opportunity. >> are you surprised by "seinfeld" staying power. " is a twitter handle. does that amazing? >> truly it does amaze. other than the show was truly think wedid not understand why the show became quite as successful as it was, penetrations such today. interesting thing about the website that you are noting, one

of the reasons we stop doing the show is we really cannot surprise the audience anymore. we have done every possible situation, and the contributions on the website are often very funny, very unique, very much in keeping with the show we were doing. i applauded. i go on and read some of those, and that would have been a great episode. >> bob steiner also cemented -- gat also cemented his legacy on "full house," and then america's funniest home videos." he is now the author of "dirty daddy." >> i had a book in me for a long time, and then i had surgery and had it removed. works,es that comedy sometimes it does not.

>> you will be here all week. try the veal. andhis was around death comedy. whichher sense of humor, i inherited, i had during the shows,did those family and i was always a standup since i was 17, so that kind of humor i wanted to make sense of. house" -- and you are working at cbs, doing the morning show, they decide you should part ways. what goes on? >> my manager, tells me that jeff gray, who produced "full house" wants me to play danny tanner. cast,ad another person and they recast it, which i have a little guilt for.

i flew back to l.a., which was good because i had a wife and a child at the time, we did the byot, and it was picked up abc. >> is there a room on the set where you would go in order to be the filthy mouth individual because, of course, we cannot say most of the words in the book. >> you are -- were you able to do with that on the set? >> i was a bit manic. kids, i amhere were doing book signings, one of the mca, and it is difficult because i do stop myself. i am a dad. i am conflicted. sometimes i did some inappropriate acts. >> check out this wild ride from a german photographer. he mounted six gopro cameras on his bicycle and went for a spin.

the cameras picked up everything around him at every angle, 360 degrees, you name it. ♪

>> it is 56 minutes past the hour. bloomberg tv is on the markets. i am olivia sterns. stocks are lower again today. the selloff appears to be decelerating a little bit. the s&p is off by about .04%.

fallrday, we saw the s&p two percent. is now off about 3.5% since hitting a higher there this month. let's show you quickly the treasury markets, pushing yields rising, down to about 2.5 basis points. let's show you what is happening to oil. oil is near a five-week high as we get better than expected data on consumer confidence. the university of michigan consumer sentiment index rising more than forecast. joining me with a look at one of the potential catalysts behind the selloff, our very own adam johnson. >> if you are upset about the selloff, blame biotech. it is time for insight and action. a.b. it is not that simple. this will jump out at you. biotech, over the last six

weeks, it has fallen 20.5%. 24.eaked on february if the 500 down 1.25% over the same time. biotech took us back up after the momentum names and they are dragging us down. the selloff is creating a great -- interesting situation. an analyst who is typically ranked as the number one biotech analyst -- when he sends me stuff, i read it. the selloff that we have seen has brought valuation down to the same level as big cap pharma. back five years, even in the crisis in 2009, you did not see that. it usually trades at a premium. therein lies the opportunity. it has gotten to cheap effectively. what we decided was to look in -- look at some of the names he follows and recommends. pe, we found is the current

he said that the data, are in each case a discount to where we have seen the stocks trade historically. , 14 times, of amgen a 6% discount. 10 years,ack five-to- as long as we go because some of stocks did not go back further than seven years. if you want to play this trend, there it is, the etf. it trades about one million shares a day. we also want to point out that it seems to be stopping where it should. for taking, blame it us down, but maybe it is just gotten to cheap. >> that is adam johnson. i want to share your couple of big movers. the first, zoe's kitchen, shares of the mediterranean themed restaurant chain are surging. they offered 5.8 million shares.

they are up more than 70%. we are watching shares of the gap, which are falling by the most in three months, reporting same-store sales that fell short of estimates. gap stores and old navy where the hardest hit. banana republic did a little better. indices.k at the major stocks are falling. the momentum selloff seems to be decelerating. the s&p down about .4%, trading 1825. we will be on the markets again in 30 minutes. "bloomberg west" is coming up next. ♪

>> live from pier three in san francisco, this is "bloomberg west." it has been a rocky time in the market with tech and media stocks selling off big time. will it cause some companies to have second thoughts about going public? the latest edition of the samsung smartphone goes on sale today and we will look into whether they galaxy s5 will be a game changer. let's check your top headlines.