>> live from pier three in san francisco, welcome to "bloomberg west," where we cover innovation, technology and the future of business. i'm emily chang. ahead in this hour, will a smartphone reignite growth for -- samsung announces its new smartphone, the alpha. it starts shipping next month. will it be enough to reverse samsung's market shares. the daughter of robin williams has quit twitter and instagram in the wake of her father's death. troubling e received

messages on the social media sites. and mark suckerberg is taking the ice bucket challenge. the challenge, which has gone viral is to raise money for a.l.s. research. we just heard from president obama speaking from martha's vineyard he address ide rack and the protests unfolding in ferguson, missouri. we're going to talk a little bit about that and how technology and social media have been fueling these protests. but first, to our lead story of the day, it didn't have the usual fanfare of a samsung launch but nevertheless samsung is getting a jump on apple, re-- revealing its newest smartphone aed of the new iphone. this is a departure from older phone, it's called a galaxy alpha, has a metal casing

instead of a plastic one, has a 4.7 inch screen and comes in five colors. it will be available starting in september. the top phone make has seen its worldwide market share decline. joining us now is bob o'donnell nd michael gorman. they just released this secretly, just a press release on their website. not a lot of fanfare. what is your reaction? >> it looks like a decent phone. it is kind of what we would expect. it just shows how often samsung really does -- i hate to say it -- slavishly copy apple. if you look at the look of the general phone, it's very much like what we have seen apple do. the interesting thing is i think apple will do a bit of a twist, we'll see where it might be more surfed.

then samsung will be a step behind. it is plastic on the back, to be clear. it is metal on the edges and plastic in the back. it will still look and feel very nice. it is a big challenge trying to compete these days, because these phones are getting to be so similar. >> test interesting some reviews said, is it a flagship phone? it has some flagship specs. also some mid tier specs, like the camera isn't as good as the s5. >> i still think the flagship phone is the galaxy s5. the screen is not as big. the screen is lowerres. -- lower res. i assume that was made for battery purposes. it is using less power because of the thinner chassis that they have put in the phone, and they've had to put in a smaller battery. that is a concern. to see how it performs. from a hardware perspective, it looks like a flagship.

premium components. fits in better with what we've seen from l.g. and h.t.c. and of course apple. >> the question is, why? we know they have been struggling in market share. they try to serve all customers, from low to high end. they're giving the name -- the phone the galaxy name, so the uestion is why bother? why not try to make the s5 better? >> i think what they are trying to do is fit into more segments. as the smartphone market has matured and started to fill up the market, the need to really subsegment to a degree we have not seen before. now virtually everybody in the u.s., for example, everybody already has a smartphone. you're talking about getting people to upgrade. they will be very specific in their choices. they've lived through a couple of generations of smartphones and know things they like and on't like.

and pricing wise, it's below the s5, it's not the flagship in that sense. again, they are trying to fit in between these different markets. unlike the u.s., many other parts of the world do sell unsubsidized phones. they actually have to hit different price points. that is part of what they're doing with this as well. >> is samsung doing too much? >> samsung has always done the shotgun approach. throw a bunch of stuff against the wall and see what sticks. this seems like a continuation of that. it is kind of like copying what apple has done. have seen where these other hardware manufacturers have put a bigger focus on the premium look and feel to the hardware. that's long been a criticism for people with samsung's phones. it hasn't hurt them before, but w they've seen their sales drop, they were like, we got to try something. >> there has been some discussion about the glass.

samsung uses corning and apple uses sapphire glass. what is the different? all i want to know is whether it's going to break. >> sapphire glass -- and it's not technically glass. it's kind of a sapphire crystal. it's more scratch resistant, and theoretically, potentially more break proof. we will see what happens in the real world. but that's the idea. the idea of talking about sapphire, everybody thinks it's a jewel. no. it's chemically manufactured. nevertheless, it is one distinguishing point. one last point i want to make. when we think about the smartphone market in general, most people in the u.s. have smaller screen phones. a 4.7 is on the large size for the u.s. market. that will be important, because not everyone has made that transition. apple will drive a lot of transition with that. i just did a survey of 2,500 people around the world on things they plan to purchase in the next year, all kinds of gadgets, and number one by far was large smartphones. that is what people are looking for. >> a 4.7 inch screen, to me, having been using an iphone,

mostly seems reasonable. 5.5 seems just too big. how do you think the new iphones will do compared to the new ptions from samsung? >> i think you've got a lot of people -- for me, it's about hand size. the sweet spot with the iphone and why it has been so popular with women in particular is the smaller size. when my girlfriend was shopping for a phone, she had no allegiance either way, but it was uncomfortable for her to hold a wider phone. she got an iphone because it was more comfortable and she could fit it where she wanted it to be. i expect apple to go bigger, but i don't think we will see anything over five inches. just because i think you get into more of a niche market. and really you've seen the 4.5 inch, 4.7 inch phones have large uptake across many markets. that's a better sweet spot.

it lets people see video on their phone. people have been clamoring for bigger screens to do media and that stuff. i think that is probably where we will end up. >> what do you think? we'll certainly see the 4.7. the 5.5 is interesting. again, remember, apple needs to grow in other markets, notably china. in china, the 4.7 is actually not so big. it is kind of on the smaller side. they like five plus. part of apple's idea is, let's build products we can sell around the world. yes, maybe they're a smaller piece of the market in the u.s. but they might be significantly larger in other parts of asia where they want to grow. >> we will see if samsung sneaks in anymore announcements. michael gorman, thank you. thank you both. what role is social media playing in the protests unfolding in missouri surrounding the death of 18-year-old michael brown? more on that when bloomberg west returns. ote]

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>> welcome back. i'm emily chang. just moments ago, president obama took a break from his vacation on martha's vineyard to

address the situation and humanitarian crisis in iraq, and simmering tensions over the death of a black teenager outside of st. louis. our white house correspondent phil mattingly joins us now with more. let's start on iraq. what is your takeaway from what the president had to say? >> well, emily, the president didn't mince any words. he said the situation on the top of mt. sinjar has improved. many of the advisors sent over there in the last couple of days will be leaving iraq sometime in the near future. so big step forward. already much of what we've heard in the last 12 to 16 hours is they believe the siege that has been surrounding that mountain has been broken. a major step forward at least on that issue. the bigger issue as the president underscored again today is the political things in baghdad. the president said there's modest improvement there, no big gain bus at least some steps forward.

what most of us were paying attention to is the president's take on what's going on in ferguson, missouri. the president said he had spoken to the governor in missouri shortly before coming out and you said there is no excuse for the escalation of violence that has been going on, on both sides of the situation. i think it's something you'll see the white house keep a close eye on. also, there's a parallel investigation with the local police and the fbi and justice department on the federal side. there is the determination from the administration to try to get to the bottom of what happened. >> he said he did ask the d.o.j. and the f.b.i. to investigate. let's take a quick listen to some of the things he had to say. >> when something like this happens, the local authorities, including the police, have the responsibility to be open and transparent about how they are investigating that death and how they are protecting the people in their communities. there is never an excuse for violence against police, or for those who would use this tragedy as a cover for vandalism or looting.

there is also no excuse for police to use excessive force against peaceful protests. >> he also said that police shouldn't be bullying journalists. what do you make of how he came out, sort of defending both sides in the situation? >> you know what is interesting, emily, you compare this to his remarks a little over a year ago on trayvon martin, which were very from the heart, trying to take a look at the issue of race. this was not that. this was an effort by the president -- i think he was very cognizant of the fact that leadership from above has not existed in ferguson in the past five days. two washington-based journalists were arrested and detained for a short time frame yesterday. that is terrifying to a government official when you look at things going in that direction. the president is trying to establish leadership from above, trying to get federal officials in there to get some control of the area. then they will deal with the

broader underlying issues. >> it definitely sounded like he was trying to find some middle ground. phil mattingly, thanks so much for that update. as unrest continues in ferguson, missouri, a hacker group anonymous, an international group of hackers and activists, has urged peaceful protesters of the death of 18-year-old michael brown. this morning, they released the name and photo of the alleged shooter. the st. louis police department disputes the report, saying it's inaccurate. we are joined by professor of anthropology at mcgill university and author of the forthcoming book "hacker, hoaxer, whistleblower, spy." thank you for joining us. how would you describe anonymous's role in these protests and the situation in ferguson so far?

>> anonymous has played a couple of roles. they have amplified the role that the media played, which is getting the word out, having people be able to participate and know what is going on. and they did this largely on twitter by providing live updates and pictures and rallying calls, but they go no further than that. -- they go a little further than that, by releasing names of officers involved, whether that was the name of the chief of police in st. louis, revealing his name and that of his family, and then this morning, as you noted, the supposed person who shot mike brown. >> i wonder, behind-the-scenes, how are they organizing themselves? how will they discuss whether to release this information once they have obtained what they believe is correct information? >> historically, in some operations where they have been

releasing name or incriminating evidence, they tended to organize by very small teams and they would work with locals in the area and really only release information once it was pretty solid. i actually watched this morning as members of anonymous and participants were discussing whether to release the names. it happened on a public channel, which was quite unusual, and it was quite kay yacht. it was clear that while many felt the information was suggestive, it was not definitive, people were saying nevertheless, in the heat of the moment they called for a vote. they went into a chat room where they voted, more people voted yes, and boom, next thing you know they release the name. >> how would you compare their role in this protest to their ole in other protests, and wade-ranging protests?

>> one good example is the bart operation in 2011, where some bart policemen killed charles hill in san francisco. there were some protests at the bart station and bart was going to set -- to shut off cell phone access to quell future protests. anonymous got involved at that moment where there was censorship. i'm pretty sure that issue would have stayed a regional or city issue. because anonymous got involved, it transformed into a national issue. with this case, it was national from the start. it was so heated. what anonymous has done is reached different audiences, amplified things. but also really stirred the pot of controversy because they keep claiming they will release the name of officials involved. and again, this has really been controversial, within anonymous and outside of anonymous as well. >> talking about the role of social media, it is amazing with these protests, as with so many in the past several years, the power that social media has.

the protest being live streeped for all to see. is it good or bad? on the one hand, it gives power to the people. on the other hand, it can spread misinformation and lead to even more violence. >> absolutely. participating online and watching things unfold is a very powerful vehicle for "witnessing" the event. you are not there, but a lot of people feel like they are there. they feel connected. lines of solidarity get built up because of the kind of dimension and rich elements that happen on social media. it is certainly the case that it ups the ante for misinformation. generally, i think that misinformation gets corrected quickly. the problem, of course, is the person who is misidentified in the process definitely suffers consequences. again, i think misinformation is corrected rather quickly on social media, but there is

definitely collateral damage for the target that is misidentified. >> thinking back over year, over decades, i was thinking of the l.a. riots, for example, how would those have been different if social media, if facebook and twitter and the internet existed? >> that is a great parallel. those were pretty explosive, pretty profound. i think they probably would have been bigger. i would not of been surprised if they had spread to other cities as well. there is something very infectious about what happens on social media. things spread very quickly. i think we saw that quite a bit with occupy. it was a movement very much grounded in place. it had to do with new york city and wall street, but social media allowed it to spread in ways that i think really surprised even the organizers. i think that was the case with the rodney king riots as well. >> how do you expect these

protests to play out? >> i think there will be continued pressure to get the name out, and i think the police department will be forced to release the name, kind of against their wishes. there is a lot of pressure coming from advocacy groups, from journalists, from anonymous, from people in the community. and that kind of ongoing pressure and demand is not going to go away. it is going to intensify and it will force them to release the name. >> we will continue to follow the story. thank you so much. mcfill university and author of "hacker, hoaxer, whistleblower, spy," gabriella coleman. we'll be right back. ♪

>> the challenge that companies face the most are the i.t. they have to bring that technology into the business and try leverage it in their daily work. technology is even more important in consumerization of i.t.

samsung has addressed this by bringing in a framework to help get the best of both. samsung is doing a lot to help our businesses meet those changes and those challenges, i choice. e're the right we are committed to areas of solution and support.

>> welcome back. i'm emily chang. twitter is taking action after offensive material was posted on the twitter account of zelda williams, the daughter of actor robin williams. people sent her cruel images of her father who apparently took his own life this week. twitter said it will not tolerate abuse of this nature and is evaluate though improve privacy rules. the company has also suspended the accounts of those who sent her the offensive material. green may be good for wall street, but is arrogance good for silicon valley? we'll ask california lieutenant governor ga vin newsom next on "bloomberg west." >> time for "on the markets." let's get you caught up where stocks traded today. e closed across the board with

ins, the nasdaq and s&p up .4%. gains across the board. we're looking at is rks 955 on the s&p.

>> you are watching "bloomberg west." i'm emily chang. sill can valley rhetoric has become synonymous with sayings like demock rahtizing the internet. it's that arrogance and quote-unquote, sess that has translated on the backside. rent is expected to surpass manhattan for the first time ever next year. thises a silicon valley releases a digital diversity report shows a heavily white and asian male

work forest. does silicon valley have an arrogance problem? for more, i'm joined by san francisco mayor and current california lieutenant governor. thank you for joining us. >> but how did i get involved in this? this is a lose-lose. think about the age cohort we are dealing with. so many people in their 20's. find me an industry, and age cohort within that industry in their 20's were there is not a large percentage of people that think they can dominate the world. ost of the big breakthroughs you see in the world, going back to the 1960's and the engineers that got us 45 years ago apollo, most of them were in their 20's. there's an arrogance that comes ith that age and then there is n arrogance of another kind. >> some believe arrogance is not

good. if greed is good for wall street, is arrogance good for silicon valley? is that what you are saying? >> some of the greatest leaders have changed the world dramatically. they were not always the nicest folks. folks know a lot about mother theresa. she was not always the most friendly to those closest to her. god fored by, excuse my language. look at real change agents, from gahn tee -- gandhi to mandela, chavez, king, they were strong-minded, strong-willed people. steve jobs was legendary for being strong-minded and strong-willed. >> some people called him evil. >> my point is, a lot of remarkable people who believe in themselves so much, the folks that really do change the world, do tend to have an arrogance at time, a police chief in themselves, an ability to see through the critics and through their vision. i think that's not an unhealthy thing. >> sergei brin, cofounder of google, has said multiple times,

-- has said, ultimately you want to have all the information connected to your mind. and then elon musk. the holy grail is we would like to make life multi-planetary. should we have them fixing things like racism and gender inequality? some of the things we've been talking about? >> they're stretching our capacity to dream and believe and imagine and that is a healthy thing. they are pushing past the boundaries of status quo. i love it. the idea that i would be driving an electric car is extraordinary. what is more extraordinary is he's done with spacex. what might be extraordinary even still is you might have a round-trip ticket to mars in 10 years because of that doggedness. google is an extraordinary company that has changed the world in so many respects because of that, i think, intense passion that sergei and larry and their vision have promulgated and pushed.

i don't think this is necessarily a bad thing. it's situational, people have to be not oblivious to the world around them. that's where i have to be -- where i have problems. >> willie brown, another former san francisco mayor, was on the show talking about how the tech community is self-centered. if they are not necessarily all of them arrogant, are they self-centered? are they too self-centers? >> there are good people and good politicians and folks in the media. and then there are arrogant people where you are like, who were your parents? they exist everywhere. that said, tech is changing everything. the industrial economy has run ut of gas. the guy named craig comes along with a list and the entire newspaper industry did not know what hit them. and something called itunes. virgin, a megastore, didn't know what hit them. now we're buying individual songs, not albums. a guy named chuck comes along and all of a sudden, the old

fancy strategies around stockbrokers getting $100 for every trade are radically train -- radically changed with e*trade and schwab and others. there is some evidence to suggest that what these people are preaching, they are also practicing. something radical is changing. something old to something new. a lot of these people have been on the tip of the spear in that change. a lot are doing useless things, but there are some doing extraordinary things. and we ain't seen nothing yet. >> you know better than anyone how much the tech amenity is -- tech community is doing to help the rest of the community are they doing enough? >> no, not even close. >> everyone singled out marc benioff at salesforce, but no one else gets the kind of praise. >> because mark is extraordinary. he is exceptional in his approach to call out his friends and colleagues to do more and be better in terms of reconciling this fundamental fact -- businesses cannot thrive in a world that is failing. we are all better off when we are all better off. that fundamental value is something he believes in and preaches and prangtieses not only within the company but

individually. from that perspective, he's having an impact. a lot of folks are having private conversations that, trust me, they wouldn't have had had mark not called out for a much more enlightened approach to deal with problems in realtime and not just wait to raise a round, to go public, to make $10 billion to $20 billion and then decide at the end of your life how you're going to invest that money but in realtime contribute to making society better. i think you're seeing backlash that's understandable in that context. you're seeing folks like mark trying to get out ahead of it, they're saying it's not a marketing problem. but we're creating jobs and people should calm down, we're job creators, which i think some people in the tech community have instructed as an approach. mark understands it's much deeper. i think you'll see more people ike him in the future. >> what should companies do? we just heard rents in san francisco are going to be the

highest in the country by next near. -- next year. people are getting pushed out of the city, 98-year-old women getting pushed out of the city. they are getting evicted by people who often made their money in technology. what is the solution? just an easy question for you. >> yes, an easy question. i dealt with this as supervisor, as mayor we had the dot com boom bust and that's challenging. success comes with challenges. you don't want to stifle that success, but you have to protect those that cannot necessarily participate in that success. that is why san francisco has the highest minimum wage and we'll increase it again soon. it has the only paid sick leave, and the only universal health care regardless of pre-existing conditions or immigration status. it has very aggressive strategies to deal with affordable housing and inclusionary housing, and it has strategies to protect nonprofits and deal more substantively with a more affordable housing trust the mayor is promoting. but all of that is not good enough to deal with this gatsby curve we all recognize not just in san francisco, but across this country. social mobility and the growing

income inequality. i would like to see the tech community begin to orient themselves around strategies to focus substantively on those things. as we connect evil, we connect -- as we connect people, we connect people to great ideas. >> a lot of tech people are competing in the ice bucket challenge. is that a solution? >> no, but that is good viral philanthropy. i participated myself. als is an important study. >> how was it? >> it was freezing. but people don't live long enough with a.l.s. so this is an appropriate response to the problem. but it is an example of where i think you are right -- a viral, technology platform thinking, civic engagement, more choices. the tech community can going solve these problems. >> i have to find that video of you. >> i think we've already destroyed it. >> california governor gavin

newsom, always great to have you on the show. coming up, edward snoden claims -- snowden says they're working n a machine that can automatically counterattack cyber hackers. how does the program work echo how legal is it -- how does the program work? how legal is it? we debate next. [note]

>> welcome back. i'm emily chang. it wasn't auburn fan bus foreign hackers who targeted the phone lines of the tuscaloosa, alabama, police department. they flooded the department with irrelevant calls earlier this week, briefly stopping police from receiving legitimate calls. a nearby business was also targeted. the police department is taking steps to prevent the situation from happening again, including blocking certain international calls. former nsa contractor edward snowden is making more claims in an interview with wired magazine. e said the nsa is developing a

a cyberdefense system called monstermind that could detect cyberattacks and have the ability to launch a counterattack. how legal is this program? michael, first of all, how does this monstermind program work? it sounds like a network of robots that can stop an attack before it starts? >> the details are a little scarce, but what it looks like it can do is scan traffic, packets actually, across the internet and look for patterns that show a malicious attack, a disruptive attack. this is not espionage or the stuff we been hearing so much about. this is attacks aimed at critical infrastruck her or other things. as snowden points out in the interview, though, in order to do this, you would have to scan packets at a national level. it would have to take into account a huge amount of information that comes in and

out of the country every second. that is where some of the interesting questions get aised. >> first there's prism, now monstermind, what do we think of these code names? >> i think as michael hayden, former nsa director himself said if you thought some of this stuff was going to become public, these are probably not the names you would give them. monster mind is probably creative and interesting, but not something you want to put a nice warm, fuzzy moniker on a program that is around cyber war. it raises interesting questions, as snowden points out, about how they would do this and whether it violates certain privacy concerns. but one of the things we know now is that the way the white house has kept the decision to strike back in cyberspace, to do a cyberattacks at a very high level, it has to be done at the level of the secretary of efense or the president.

what he's talking about is something that might happen in the future, that the nsa has been worried for my that the white house has been worried for a long time about what the administration calls attacks at the speed of light. these are cyberattacks where there is no warning at all. it is not like even a missile were you've got 15 minutes to make a decision and decide a counterattack. this can happen literally in microseconds. apparently, what this program is designed to to is provide one answer to that threat, to scan traffic automatically and automatically create a response. right now, the way the presidential authority works, you could do it. -- you couldn't do it but it raidses the possibility that you could do it later. >> you wrote a big article about the foreign attack on nasdaq. it took yearers in government to understand. how realistic is this type of technology? >> it is realistic in one

sense. it looks a little bit like programs in use now, like einstein three, which is an automatic way of trying to protect government networks from malicious traffic, especially cyberespionage traffic. what that requires, they have to scan all the pacts that hit government net without objections going in and out. they can't do it at the government door, they have to do it at the i.s.p. door. it took a lot of technical adoption and a lot of legal thinking through these steps. essentially, what this would do is expand that to a national level. the kind of algorithms and examination of traffic that they are talking about can be done. the political implications of this, who has the authority to decide whether this is really an attack and what we should do about it, that is much more complicated. these are questions that get kicked down the road. >> all right, our bloomberg news legal reporter michael riley.

monstermind. we'll cope an eye on this. and mark suckerberg issues a challenge of his own. ♪

>> welcome back. i'm emily chang. the ice bucket challenge to help fight a.l.s. is the latest viral sensation. and even facebook's ceo mark zuckerberg is taking part. take a listen as he tells us why he's doing it and then dumps some ice on his head. >> hey, everyone, yesterday, governor chris christie challenge me to the a.l.s. ice bucket challenge. governor, i accept your challenge. after i dumped this bucket of ice on my head, i get to nominate three new people. i will challenge bill gates, my partner at facebook, sheryl sandberg, and netflix's founder and ceo reed hastings. you have 24 hours to do this or donate $100.

ere we go. that was really cold. >> he was remarkably calm there. i'm impressed. the clock is ticking for sheryl sandberg, bill gates, and reed hastings to take the challenge. we will be watching. all day today on bloomberg television, live from atlantic city where it's lights out for three more casinos in the next few weeks. casino revenue has been sliding for years, dropping another 11% last month to $274 million. online gaming only accounted for $10 million of that. trish regan joins us live on the boardwalk. you have been talking to everyone all the way up to donald trump and the digital boardwalk, as i understand, has not really lived up to expectations. >> online gaming was seen as a panacea.

there was an expectation that it would really, really help atlantic city an new jersey in terms of the tax revenue it would bring in. there was estimates that predicted the revenue around $1.2 billion which would have generated about $108 million in tax revenue. it looks like that tax revenue is going to be somewhere around $34 million to $55 million. really, nothing like what the state had anticipated. it looks like at this stage, online gaming is not going to be what saves atlantic city. >> what else could save atlantic city? >> you know, there is talk of maybe bringing the convention business here. given that the casino industry has really struggled as much as it has. one of the reasons it has struggled is not just because of the online platform, but because it has become so much easier to gamble anywhere you want. in other words, state after state has basically moved to

legalize it, thereby making it right there in your own backyard. you don't need to come to atlantic city anymore. you can gamble in pennsylvania or wherever you are. you can also gamble, obviously, at home in some cases, online. >> and chris christie, who just challenged mark zuckerberg to the ice bucket challenge, has been one of online gambling's outspoken proponents. who are the critics? >> you just have to look at sheldon adelson. he's the owner of las vegas sands. he told us recently he was going to do absolutely whatever it took to fight this. he sponsored legislation to put an end to online gaming. he fears it will be destructive to americans and will cost them their house, their home, their livelihood. of course, this is a guy who made all his money, and still does, off of gambling. >> trish regan in atlantic city

today. thanks so much for joining us. it is time now for the bwest byte, where we focus on one number that tells a whole lot. we have a special guest today. former san francisco mayor gavin newsom is back. it better be good. >> 1966. think about it. >> a lot of things happen. >> you and i weren't around. 1966, the last live concert ever that the beatles performed was right here in san francisco at candlestick park. >> really? >> you know what is happening tonight. >> i know what is happening. how appropriate. >> 49,000 people -- how appropriate. city started foot, in 18949, 49,000 people coming back for the last concert ever to be performed at that iconic venue since we are tearing it

down shortly thereafter. >> are you going? >> i have to be there. >> my mom is going. she has been excited about this for months. >> beatles, paul mccartney, and by the way, he was thinking audaciously of not doing candlestick, but instead doing the new stadium at the 49ers that left san francisco to go to santa clara and wisely reconsidered. >> while you are waiting to get on the show, we contacted anonymous and got the ice bucket challenge of you throwing ice on your head. we have been feverishly trying to cut it. >> don't forget, san francisco giants own hunter pence. the giants know a thing or two about ice buckets because they seem to be dropping everywhere the last few years. two world series in just the last four. thank you. >> gavin newsom taking on the ice bucket challenge for a good cause. thanks for watching this edition of "bloomberg west," we'll see

you later. ♪

>> this is "taking stock" for thursday, august 14, 2014. oday's scene is discounts. jcpenney hasn't had a profit in three years. we'll see if offering discount policies will bring shoppers back to stores. plus, they're buying homes at a discount and renting them out. we'll meet the co-chief executive backed by barry