>> the following is a paid advertisement from star vista entertainment and time life. who's the black private who is a sex machine to all the chicks? shaft ♪ ♪ were listening to the soul of the 70's.

ah, baby,s get it on, let's get it on ♪ star ♪ining who's that lady, beautiful lady, lovely lady ♪ >> i have been on the radio playing music for over 25 years. hard to believe, right question mark i started out young. if you are like me then you love soul music. there is one decade that stands out from the rest, the 1970's. i am, baby, signed, sealed, delivered, i'm yours ♪ >> abc, easy as 123 ♪ >> ♪ giving him something he can feel to let him know ♪

>> america was going through many changes in the 1970's and the music laid an important role in saying who were and how we wanted to live our lives. join the love train ♪ to change it now, just you and me. >> no decade before since the 1970's showcased more unbelievable talent and the new sick they made. >> -- music they made. >> ♪ a beer friend, i'll help you carry on ♪ an everlasting love, this will be the one i've waited for.

>> i am here to introduce the soul of the 1970's. filled with the most enjoyable memories from the past decade of soul music error -- ever. buddy know a place, a new crying, anybody worried, aand faces. no woman like the one -- ain't no woman like the one i got ♪ >> this show will be very special. let me introduce my cohost. and former miss america, suzette charles. >> this is an honor for me to work with you. i look forward to it every day. like thank you. it is a much easier to entertain when you have great music to share. >> it back and relax. >> because we are about to take a journey through the soul of the 1970's. >> now for the first time, the greatest decade of soul music is

all together in one collection. 150 soul classics from the decade we will never forget. it is the soul of the 1970's. >> ♪ tell me something good, , thate that you like it you love me, yeah ♪ >> let's go back to the beginning of the decade. >> the radio airwaves were filled with established stars cranking out great music ike the godfather of soul himself, mr. dynamite, change brown -- james brown. i got soul and i'm super bad ♪ me, group may, baby, move baby the tears of a clown when

there's no one around ♪ >> ♪ if i could turn back the hands of time. hear aere starting to smoother and melodic type of love song. i blow your mind this time, didn't i? ♪ love in a two-way street and lost it on a lonely ♪ghway the rain, it may sound

crazy ♪ >> there was one artist who teased us for what was to come later in his career. >> he began his evolution to become the king of pop. thereot to be there, be in the morning when she says hello to the world ♪ a time of1970's was political and social change. >> and the unrest in the country was expressed in many soul artists delivering very significant messages. mother, there's too many of you crying ♪ isit good for, absolutely nothing ♪ >> ♪ wall of confusion, that's

what the world is today ♪ >> when i was growing up in alabama and the 1970's, radio was something very special. the disc jockeys had a way of introducing news again making me feel like they were talking right to me. child, things will be easier, things will be brighter ♪ to the sky on a natural high ♪ >> technology was improving and the sound of records was getting bigger and better. may and mrs. jones -- me and mrs. jones ♪ music was coming

from all across america. click some of the best songs were coming from the east coast. >> the unmistakable sound of philadelphia. >> ♪ a smile in your face, all the time they want to take your place, the back stabbers ♪ >> ♪ whenever you call me, i'll be there, whenever you want me, i'll be there ♪ ♪ >> there was a very interesting band incorporating rock, jazz, and rhythm and blues to make exciting music on the west coast. >> ♪ cisco kid was a friend of mine ♪ >> ♪ don't you know that it's true that for me and for you, the world is a ghetto ♪

>> well. the song sound even better today. they are timeless. we have put together all the best soul classics from a special aero. that is the soul of the 1970's and getting it is as easy as picking up the phone. >> in the 1970's, soul music filled the airwaves with great vocal groups, funk bands, and sexy superstars. all across america, we were listening to the soul of the 1970s. >> ♪ that's the way of the world, that's the power ♪ >> >> ♪ every time i turn around, back to love again ♪ >> you will hear 150 songs that made the 1970s the best decade of soul music ever. >> ♪ money >> ♪ could it be on falling in

love with you baby? ♪ >> you will get all your favorite artists. no downloading, no searching for songs, no trying to remember your favorite artists. the commodores, al green, aretha franklin, and marvin gaye. >> ♪ you come back to me, that's what i'm going to do ♪ >> no trying to remember your favorite artists. just open a box and enjoy eight hours of the greatest soul music ever recorded. >> ♪ you will never find another love like mine ♪ >> ♪ everywhere i go, on the streets and even a picture show, have you seen her? ♪ >> ♪ you're the one that i have

been waiting for forever ♪ >> you will also get this 32-page booklet with liner notes that tell the story of 1970s soul music. do not forget to ask about this great collectors box. >> and if you order now, you can own all of the fantastic music . ♪ lady marmalade >> the soul of the 1970s collection for just five easy payments of $29.99 each. >> ♪ if you don't know me by now, you will never know me ♪

>> ♪ you are once, twice, three times a lady ♪ >> that is not all. call in the next 18 minutes and get two more cd's absolutely free. 30 of the most soulful records from the early 1970s. >> ♪ freak out delete leave me this way, i can't survive, i can't stay live without your love ♪ >> order now and we will pay your shipping and handling, a savings of $17. here is the best part. baby ♪ep on trucking,

>> call now and we will deliver it risk free. if it is not the best collection you have ever heard, send it back and we will refund your purchase price. it is that good. order now and get the soul of the 1970s. 2 free cd's and free shipping and handling. remember, this collection is not sold in stores, so call now. >> welcome back. >> this era was also known for great vocal groups. >> they had some wonderful things in common. >> the clothes. >> the dance moves. >> and the lead singer. >> ♪ a mighty love >> ♪ what you see is what you get ♪ >> ♪ everybody plays the fool sometimes, there's no exception to the rule listen, baby ♪ >> >> ♪ it only takes a minute, girl to fall in love ♪

>> five brothers and a cousin became one of the most legendary soul acts of the 1970s. >> you mean the isleys. e the one you're with ♪ >> ♪ i am searching everywhere and i am looking ♪ >> in the 1970s, the legendary motown records moved from the motor city to los angeles. >> and continued to bring us classic soul hits. -- poppa was a rolling stone, wherever he laid his hat was his home ♪ >> ♪ mercy, mercy me >> ♪ where there is love, i'll be there ♪ >> ♪ neither one of us wants to

be the first to say goodbye ♪ >> a new type of artist was finding great success in radio. >> bands with horns and tight rhythm sections were delivering a new brand of thump. >> ♪ skintight >> ♪ it's a brick house she's mighty, mighty, just letting it all hang out ♪ >> ♪ hollywood, hollywood swingers ♪ >> one of those bands found out that they could mellow out and write a love song. >> we discovered one of their born players was a superstar waiting to be discovered. >> ♪ just to be close to you,

girl just for a moment ♪ >> fm radio was growing in popularity. >> the fm format played longer versions and exposed album cuts. that went on to become big hits. gone, how the love is could you leave me on ♪ growing wilder ♪ >> ♪ love don't live here anymore ♪ >> fm radio also help some musicians broaden their fan base.

>> like this 10-time grammy winner, who went from being a jazz musician to a true superstar. >> ♪ lost in a masquerade >> ♪ because the bravest love of all was happening to me ♪ >> this collection is unbelievable. >> the music brings back so many memories. you cannot live in the past, but it is sure nice to go back and visit. , eachlways and forever moment with you ♪ >> ♪ that's how i know there's no me without you ♪ >> you can search the internet,

scour a record store, or rummage through your attic and you still would not be able to find or remember all of these songs. >> now you can own them all, 150 of the greatest ever made. >> getting it is as easy as picking up the phone. >> in the 1970s, soul music ruled with great vocal groups and all across america, we were listening to the soul of the 1970s. >> ♪ let's get it on ♪ >> ♪ she used to be my girl she used to be my girl ♪ >> you'll hear 150 songs all digitally remastered. for perfect sound. >> ♪ working at the carwash working at the carwash ♪ ♪ to, good to,good

good to you ♪ >> take the cds with you in the car, play them in the house, upload them to your ipod. you will enjoy them everywhere. >> ♪ super fly >> ♪ let me blow your mind >> if you love soul music, you have to get this collection. >> ♪ loving you gave me something new that i never felt ♪ >> why waste time and money trying to find all these hits? call or order online right now

and get the complete collection on eight cds for just five easy payments of $29.99 each. >> ♪ it's a family affair ♪ >> but wait. that is not all. call in the next two minutes and get two more cds absolutely free. >> ♪ we are family i've got all my sisters with me ♪ >> ♪ got to boogie down >> order today and we will pay your shipping and handling. that is a savings of almost $17. >> ♪ boogie until you just cannot boogie no more ♪

>> this is a special tv offer so call now. >> do you remember platform shoes and afros? >> afros, yeah, i had one. do you remember bell bottom flares? >> yes i do. listening to this music makes me want to dig into my closet and put it all on again. >> ♪ it is ladies night and the feeling is right ♪ >> ♪ i am just a love machine and i want to work on nobody but you ♪ machine ♪dancing >> the other thing i remember is how good the love songs were. >> they call many of those classics baby-making music. >> ♪ turn off the lights and let

a candle ♪ >> ♪ i'm so into you i don't know what to do ♪ >> ♪ love won't let me wait not one more minute baby ♪ >> one artist had a nickname that told you just how important he and his nickname really were. >> they called him the black moses. >> ♪ i cannot say goodbye i never can say goodbye ♪ >> ♪ how can you make a broken

heart whole? how can you stop the rain from falling down? ♪ >> the 1970s was a wild time. remember a band who landed a spaceship during their stage show? >> that was george clinton. white fur, white boots. it was the mothership connection. flashlight light ♪ht, spot >> ♪ jungle boogie jungle boogie ♪ >> in the mid-to-late 1970s, dance music was everywhere. nightclubs with dance floors became the rage. >> all artists kept those dance floors filled. >> ♪ i'm every woman it's all in me ♪

>> ♪ what you feel now to be real ♪ >> burning to keep my whole body yearning ♪ groovelineing on the tonight ♪ >> this collection is unbelievable. >> amazing. it is a complete musical look back at a wonderful decade. it has everything. the funk bands, the solo superstars, everything that made 1970s soul music so fantastic. >> now this music and all of those memories can come alive again whenever you want. >> put on these cds and you will never have to push the skip what

ton.ut in this collection is just that good. >> don't wait, call now. >> in the 1970s, soul music filled the airwaves all across america. we were listening to the soul of the 1970s. >> ♪ we are on the move >> ♪ no matter who you are >> 150 songs that made the 70s the decade with some of the greatest superstars that soul music has ever discovered. >> ♪ here i am, baby >> ♪ a, b, c, easy as 1, 2, 3 >> you will get all your favorite artists. smokey robinson, gladys knight, al green, aretha franklin, and marvin gaye.

>> ♪ who is that lady? beautiful lady ♪ >> no downloading, no searching for songs or trying to remember your favorite artist. just open the box and enjoy over eight hours of the greatest soul music ever recorded. >> ♪ you will never find another love like mine ♪ >> ♪ any kind of music >> ♪ i've got love on my mind ♪ >> you also get this phenomenal 32-page booklet with liner notes that tell the story of 1970s soul music. along with unique perspectives from well-known musicians and historians. do not forget to ask about this great collectors box. >> ♪ fire fire ♪

lady marmalade ♪ >> and if you order now, you can own all of the fantastic music in the soul of the 1970s collection for just five easy payments of $29.99. >> ♪ if you don't know me by now, you will never know me ♪ >> ♪ god bless you you make me feel brand-new ♪ >> but wait. that is not all. call in the next two minutes and get two more cds absolutely free. 30 of the most soulful dance records of the late 1970's. >> ♪ freak out >> ♪ don't see me this way i can survive, i can't stay

alive without your love ♪ >> order today and we will pay for your shipping and handling. that is a savings of almost $17. here is the best part. call now and we will deliver the soul of the 1970s risk-free. if it is not the best collection you have ever heard, send it back and we will refund your purchase price. it is that good. call now and get the soul of the 1970s. remember, this collection is not sold in stores. call now. >> this show has been so much fun. >> the soul of the 70s collection is unbelievable. >> i am the hardest working man in radio tom joyner. enjoy the music. >> the preceding was a paid advertisement from star vista entertainment and time life.

>> the following is a paid program. chris starr vista entertainment. jokes are forng adults only. >> you look great. partyone through a better , a better black tie, a list, racy, hilarious party than the

king of cool, deana martin. >> phenomenal. like here regret and you smell like ed mcmahon. >> time warner presents the deana martin celebrity roasts. dean and i have been no more floors than johnson's wax. guests ever shown together. >> you do not know the first thing about being a complete -- a police a woman. >> i am going to bear my chest. >> i am getting out of here. >> these roasts had it all. great jokes and beautiful women. tried to look like lucy and i even used the same beauty cream. my whole body looks like that.

this crowd came together, you never knew what would happen. >> johnny's first wife was named .oan and the second wife joanna he would not go for something new. >> the most famous faces of the time. hope, jackie bob gleason. >> how sweet it is. >> the hollywood alleges of today. >> here is johnny. came to laugh and be laughed at. >> all i can say about semi-davis is give him an inch and he will be four foot eight inches. >> i would like to say how funny milton berle was, but i can't.

backab a cocktail and sit along with the demon to the kind of humor you do not see anymore. >> there's a recipe where you have to preheat your oven and base with a little kindness and they are going to burn you, baby. a big name, you were fair game. tv stars. >> people assume if you are an actress you know everyone bald woman i ever have occasion to to an is have not been 1947. reagannt to thank ronald for his kind words. yes no aspirations and he made a tour of 43 states to say he is not running for anything. >> sports heroes. here is my, now leave. fraser was incredible, how did you feel.

>> everybody's talking about joe frazier. they were all prime targets for dean. >> to think about great stars take a look. show them a picture of jack. if dean was laughing you knew you had scored and the love to laugh especially at himself. and we all know how far -- a fair-minded he is. he will drink it no matter where it is from. >> dean has been bombed for a long time. i got a 60 year old sample are looking better than you do. dean will remember

this location the rest of his life but too bad he will not remember tonight. >> while dean was at the bar, don rickles was standing there. when done remove you, you were well done. are going to let bob hope get up and do his job. >> what is he ever done for me. he tone means a big star and tell me to go away. >> am i going too fast for you? >> why are you here? i do not really know. >> you are not as dumb as you look. to celebes wonderful guest and from howard, -- cosell, it is perfect, you cannot tell.

the man that we all respect and love, he is the former senator from minnesota and is the distinguished senator and will be the former senator. >> minnesota. minnesota. >> when i think of a dean martin iast i think of feeling like am opening a door in being invited into a select circle. vocationally they do longshots where you get to see everybody on both sides of the deus and is like a last supper of entertainment. and made itlous like it was the coolest thing to be a part of. >> the lovely phyllis diller. any survivors? >> grab a seat on the deus for

the highest most hilarious party and introducing the dean martin celebrity roasts from star vista and time life. when dean called, the biggest stars put on their tuxedos and caught the next flight and let -- left their egos at home. >> i would like you to know that i canceled a proctologist appointment to be here tonight. [laughter] i think i made a mistake. [laughter] >> i would like to tell mr. berle what to do with the cigar. you were right. i got a laugh. >> you have a vip seat at the funniest, most outrageous event. featuring the biggest stars of all time. bob hope.

jimmy stewart. sammy davis junior. >> why are we giving this man a dinner when some of the greatest italians never got a dinner? is that all for me? [laughter] [applause] never got a dinner. >> they only roasted the ones they loved. >> what a night. who are we honoring? sometimes, love hurts. >> the next lovely star that i am about to introduced is the star of "policewoman" -- i am happily married. i think of this lady all the time. i want to be with her so bad. >> bob would do well in politics. he has to be one of the most familiar faces in america. if you throw in the 27 people who have seen his movies, you

have a sizable number. >> i always wanted to meet henry fonda. the whole thing. you were so good. god bless you. now it is time to quit. >> order now to own all classic roasts. plus, you will receive the special gift to remember dean by. a collectible memory book full of personal photos and zingers. >> jack benny is the real father of the brady bunch. [laughter] >> the shows we have to do to help you pay alimony. >> order in the next 19 minutes,

and we will send you two bonus dvds full of his legendary variety show. see him laugh, dance, and more. we are so sure these roasts will leave you howling that we will ship them to you absolutely free. >> i like the color of your nose. i would like you to leave my sleigh tonight. you think i am? santa claus? >> and is not available in stores. >> you get 18 star-studded roasts, including the memory book. plus seven classic variety

shows. and your special christmas bonus. that is 13 dvds for five payments of $19.99. we will even ship it for free. >> you have a happy holiday and from all of us to you and your loved ones, mary, merry christmas. >> order now. possiblykes are blasphemous and offensive. >> he was the first one to lead me to the promised land. one of the better massage parlors in las vegas. >> i loved doing the roast. i wish i had done more. >> the people that were on it -- they were outstanding. >> dean's roasts set the stage for some of tv's most memorable moments.

>> there's something i want to say to this bronze bully. listen, jive turkey. >> he floated like a butterfly, and she stung like a bee. >> i was really going for him. that was why. i thought he did not like me. >> if you want to make something of it, i want you to meet me out in the parking lot and we will have it out man-to-man. >> when dean set his sights on jimmy stewart, the whole room got in on the roast. >> while the naked girls were dancing, he asked when does the j-j-juggler come on? >> you are imitated by more people than anybody in show business. the reason is, it is so easy to do.

anybody could do jimmy stewart. look through the tops of your eyes and everybody go, "wow." at the count of 3, everybody go wow. 1, 2, 3 -- wow. that's fine. that's good. >> some of our favorite stars were his favorite targets. >> i am here tonight to honor betty white which gives you an idea of what is happening to my career. >> it was such fun because dean was such fun. when i got there, it was a long dais of all my very close best friends. orson welles was on the dais. i had never met orson welles. >> instead of brutal insults, i have brought you --

of all the lovely ladies on tv, you grace our screen by night. lovely betty white. >> they had a great sense of humor. they took as much as they gave. >> wonderful, off-color jokes. >> bob hope made paramount studios what it is today -- an empty lot next to a cemetary. >> grab a seat for the most hilarious party in town. introducing the dean martin celebrity roast. when dean called, the biggest stars in hollywood put on their tuxedos, caught the next flight to vegas, and left their egos at home. >> put your hand out like this and -- that is good. i want you to look through the tops of your eyes. no, kind of squint them a little

bit and bend over just a little bit. i want you to say -- >> i feel terrible. >> now, you have a vip seat at the funniest roasts featuring the biggest stars of all time. johnny carson. lucille ball. jackie gleason. >> as i stand here looking at you, angie dickinson, two things are running through my mind. the second one is -- [laughter] >> anybody would look pretty if the only man you ever stood next to were howard cosell and joe frazier. >> he is my best friend, which gives you an idea of the difficulty i have making friends. >> they only roasted the ones they loved. sometimes love hurts.

>> i see milton berle is sitting over there. i don't know why they are always putting your act down. it must be good. you've been doing the same material for 40 years. [laughter] >> i am looking forward to my 40th birthday. >> keep on looking, because you're going the wrong direction. >> this is x-rated because we use all her ex-husbands. [laughter] >> order now to order all 18 -- to own all 18 complete classic roasts. plus two dvds jampacked with bonus material. scandalous new interviews and featurettes with rare home movies. a special gift to remember dean by. a collectible memory book. >> don rickles is a bed wetter. [laughter] >> the collection is yours for just five easy payments of

$19.99 each. >> bob newhart made the claim he is my closest friend. i have never met bob newhart. >> we will send you two bonus dvds. see dean sing and dance with his old friends. >> and that is not all. will send a special bonus dvd just in time for the holidays. >> merry christmas. jingle bells, jingle bells ♪ >> is the perfect chance to give the gift of laughter. >> i like the color of your nose. >> we are so sure these roasts will leave you howling, we will ship them to you absolutely free. >> who do you think i am? santa claus? >> he would get 18 star-studded

roasts. hours of bonus material. plus the memory book and seven classic dean martin variety shows and a christmas book. that's 13 dvd's for five payments of $19.99. we will ship it for free. >> you have a happy holiday. merry christmas. >> order now. warning -- the following jokes are politically incorrect. >> i could go on for hours about television's first lady's talent. but it seems bad to go on for hours about mary tyler moore when we are here to honor this bimbo. >> it was such an education to watch. couchis like an endless on johnny carson's tonight show.

whenever i am stuck with a bunch of dull guests, i can count on bob newhart to come over and blend in. >> johnny carson has the -- the thing -- all the things he did, i think there are 22 different tics. i went through them all. >> right-hand in back of left. right-hand in palm of left. finger under eye. finger under her nose. [applause] finger in air. >> dean martin was the

ultimate man-to-man. >> you don't remember me but i was here first wife. >> a man wanted to be him. he was the funniest. >> women love to him. >> you can make all of the sex jokes and get away with them. >> remember the famous words of earl scheib. who once said to angie dickinson, you don't need a whole paint job, just let me touch up your body. >> when the ladies came on the show, they held their own with the big boys. >> the funny part is i find her attractive. [laughter] no! >> i do admit that i had my skin tightened. i'm not saying how much. let me just put it this way.

if the knot ever lets go, i can slingshot this whole room to death. >> during my lifetime, i have had audiences with the pope, i've dined with presidents -- being here tonight with people in my own business, i can say that it is great to be with the pope and president. [laughter] >> which one is betty white? get a bunch of you albinos together and you all look alike. >> these were not for the weak because the jokes were no holds barred. >> can a black man become president? yes, if he runs against a mexican. >> i have always found polish jokes are in poor taste. until i met ted. [laughter]

>> everyone was willing to let it all hang out, as long as they could hang out with dean. >> i will thank my friends and you can zing them from there. it is nice to have you here, red. uh, dean. red is the only man i know who went to the salvation army and never got a dinner -- you see how good it is when your hitman is an italian? >> we only roasted the ones we loved. >> it is unusual to have the guy sitting there while you crucify him. i don't think there were any comedians at the time who were not on these roasts. >> to think that all these lovely people flew to las vegas and got dressed up and came down here just to insult me. >> grab a seat for the most hilarious party in town. the dean martin celebrity roasts from star vista entertainment

and time life. when dean called, the biggest stars put on their tuxedos, caught the next flight to vegas, and left their egos at home. >> don rickles always reminds me of a blindfolded massage lady. you never know where she is going to strike next. [laughter] >> i want to say to you, bob. i've never liked you. i don't know how you became a star. gene kelly always said to me -- tell him what you said to me. >> now for the first time ever, you have a vip seat at the funniest, most outrageous roast ever seen. featuring the biggest stars of all time. jack benny. betty white. muhammad ali. >> why we they giving this man a roast when some of the greatest black people in the world never got a dinner.

wilt chamberlain's mother. who once said that kids don't look up to their parents anymore. [laughter] >> they only roasted the ones they loved. and sometimes, love hurts. >> really, phyllis the years have been kind to you. it is the weeks in between that you allow yourself up. >> betty has suffered in every picture she has ever made. when i appeared with her, she gave up her beauty. in dark victory, she gave up her eyesight. and in the virgin queen -- [laughter] she gave up her hobby. [laughter] >> order now to own all 18 roasts. plus two dvds packed with bonus material. scandalous new interviews and featurettes including rare home movies.

plus, a special gift to remember dean by. a collectible memory book full of his fingers. >> you made me what i am today. depressed. >> this collection is all yours for five easy payments of $19.99 each. >> i gotta tell you, man, i gotta tell you. >> plus, order in the next three minutes, and we will send you two free bonus dvds. see dean sing, dance, and laugh with his old friends. that is not all. we'll send a special bonus dvd just in time for the holidays. >> merry christmas. bells, jingle bells ♪

>> is the perfect chance to give the gift of laughter to your whole family. >> i like the color of your nose. >> we are so sure these will leave you howling that we will ship them to you absolutely free. >> this is an exclusive offer that is not available in stores. you will get hours of bonus material including the home movies. plus the memory book and seven classic variety shows. >> ♪ santa claus is coming to town ♪ >> that is dvds for just five 13 payments of $19.99 each. we will ship it for free. >> you have a happy holidays. merry christmas. >> order now. that a great catalog for

time. he was one the funniest man i had ever been around. >> i am not rubbing shoulders with the best -- i am rubbing shoulders with the legends of the world. >> he was the coolest. >> he was drinking and carousing. i said, don't you know what good clean fun is? he said, no. what good is it? >> the roasts were the hottest. >> it is a proud and happy night for me. i couldn't let it go by without coming by and giving a kiss to the man i love. [laughter] >> almost every tv comedian uses cue cards -- bob is the only one who uses them at house parties. [laughter] he even used cue cards on his wedding night. [laughter] can you imagine a man not knowing what to say on his

wedding? he was so nervous, he threw up his hands and shouted not now, sweetheart. i have a headache. and his wife said, bob, you are reading my card. [applause] >> now you can join the party any time you like. >> it takes many years to be a great comedian. >> you haven't reached that year yet. [laughter] >> order now to get this rocking collection of dean martin celebrity roasts and bring the party home. >> i want to thank you for your friendship and i will remember this night until i get to my car. [laughter] >> order now. >> the preceding was a paid advertisement from star vista entertainment and time life.

♪

>> ubs reports earnings. the chief executive in the litigation. the central bank and much more. astter's selloff shares fall much as 12% as user growth slows at the social network. on a busy morning for energy earnings, an exclusive interview with the world's biggest maker of pipelines. it -- we were able to change more. ♪

>> welcome to "countdown." i am mark barton. a very good morning to you on this tuesday morning. the world's biggest wealth manager and swiss was biggest bank, ubs, has reported earnings that missed estimates after taking a litigation charge. caroline hyde is live in zurich today. good morning. you have been cheating with us you have been-- speaking with the chief executive. what are the charges about? is, gao and in the investment banking unit. they are not going into exactly about thelates to but performance change investigation and in discussions with the department of justice in the united states. many feel by taking a walk .5 billion swiss friend chart on litigation am a an enormous

number that means -- and many feel that i taking a 1.5 billion swiss franc charge on litigation, anymore -- an enormous number. when talking to the executive try to paint the numbers in a positive light and say strip it away and huge litigation charges and a huge of benefit on the other side improving numbers. when you dig down into the underlying factors, investment banking didn't pretty well. -- did pretty well. it helped trading and foreign exchange and equity share sales picked up. we saw m&a looking strong. are saying,they third quarter, quite a surprise. that are these factors everybody has to be focusing on. 1.8 billion francs is enormous. that is basically doubling what

they had so far. also lookingubs nervous about the state of the economy and the statement. did the chief executive echo the worry? did and this is what really stood out for me. you have to remember that swiss list biggest bank but -- switzerland's biggest bank, new money increases across asia and i wanted to know what are you hearing. and the statement, they are very nervous about the geopolitical risk and the economy and a word about ebola and they mentioned those matters -- and that are worried about ebola and they mention those matters. >> i think that if you look across the board outside mandates for advisory plants. [indiscernible]

they are numbers i have never seen before. >> the most cautious he has ever been seen before. this is a keyword read. we are seeing data from germany slowing down and the ecb. mario draghi increasing the amount of bonds that are trying to purchase but not digging into sovereign bonds and corporate. he said the ecb is doing well but they cannot do it alone. is saying there's concern about the global economy and is weighing on their minds. >> thanks a lot. the bells are ringing. more insight from the topic of capital management a little bit later today. within at the milken conference. manager andcapital

that is later. do not miss out. novartis, the world's biggest drugmaker by sales, earnings have beating estimates and the third quarter. the share is $1.37. it is confirmed his output which is very important. its profitsted forecasts as well. what is happening here is that novartis is benefiting from the sales of a drug for multiple sclerosis and one for leukemia. looking at the sales of those two drugs, sales are up 25% with one and the other, 25% as well. have some drugs face -- top facing drugs are facing the declines. in april, it said it would abide abide -- buy would

glaxo's cancer unit. it is selling its animal health unit to eli lilly. that deal will close in the first quarter of next year. -- and the glaxo transaction and in the first half. sales beating estimates. oil companies which began reporting earnings today. ryan is here with what will be on the table. bp. >> bp picks it up. companies first oil to report. what we are expecting to hear and investors is and adjust it net income of under $3 billion. the expectation in terms of $2.55 million. that's what people are expecting that are producing and in the last quarter. things to watch, how is it affecting and depreciating oil price?

>> was it 5% or something? >> yeah. the following has been more -- fall has been more recent and would've to see the gulf of mexico fiasco. it is not over yet? we should get something new. grossly negligent. russian exposure, 20% of gross left -- rose left. it's always unpredictable and we'll have to see. the big question is a ruvell exposure and how they are doing in terms of production. that is one company that has been targeted by sanctions. >> you will speak to the russian billionaire behind tmk. more pipes that anyone. the chairman of the company is uniquely placed to look at the

oil and gas industry and where we are now. in russia, they are the things provider of pipes. the question i had, we have all of these oil companies having problems with the no access to capital market tom are they buying less from you? he said, no they are buying. russian think about companies, the ruble is depreciating more than the drop in the price of oil. -- they get paid in dollars further oil. that is something to keep in mind. the ruble depreciated is not such a bad thing. america show producers and he said they are still profitable. nobody yet. >> he is the king of pipes. >> and that is what he is. >> more from him and our interview with ryan. he spoke to him a little bit

earlier. better's third quarter sales out estimates. another quarter of decelerate user growth. the selloff triggered by the news has put pressure on the chief and just -- chief executive dick costolo. >> your arrival on twitter was not enough to give it the exponential growth like your very own tweet. what we saw in this quarter was a grew only 23%. last quarter, 24%. that is 284 million users and they have a role of a billion or north. clearly, the stock was under pressure. sales were up. they hit $361 million that beat estimates of $351 million. here's what the ceo said in terms of overall numbers. that's what the stock is being judged on.

he said is the number we delivered and our number one priority and we have asked operation to hold the largest daily audience in the world. you have to overtake facebook and facebook is at 1.3 billion active users. twitter would have to nearly quadruple. a challenging task. of theirod news, some sales numbers were good especially international sales that made up 34% of their sales. a lot of users are abroad. what we have seen in the past 3-6 months is the development of a sales team to sell ads through the international users and that is where you come in a you are blowing up twitter. we should have two side by side charts. twitter charts and mark martin's number of followers. -- mark barton's number of followers. tothat was a good time promote myself on twitter.

this is it. you can join the conversation. tell us what you think of hans. heelys a few extra followers. one of the big stories, you can @markbartontv. is ubs story of the day and why investors are so cautious at the moment. stay with us. ♪

>> time for company news. twitter reported sales that beat estimates and it did not stop shares from falling after hours. if that is having trouble with getting new users. this comes as chief executive dick costolo trust reassure investors that twitter does have room to grow further and he has replace executives and introduce new products soon the san francisco-based company went public last november. the short to catch the interview with the dick costolo -- be sure to catch the interview with dick

costolo. following 21 $.5 billion from 1.8 liter dollars a year earlier. they expect underlying profit to be lower than last year when a higher u.k. levy and costs. the chief executive sergio ermotti spoke about the bank's litigation. >> we are making progress toward a resolution of the matters even though we are not controlling the timing and financials and nonfinancial's. we are in a position to better estimate how to address those. >> you are sending you are in a position to have better estimates. can we expect a settlement to be coming, can you give us any kind of timeframe of when you would

be a grand with certain regulated and which they might be? >> we might be able to reach conclusions and the foreseeable future. we areaid in the past, not in control of the time and outcomes. to addressinged those issues as quickly as we can and will forward. crooks it is not something that just ubs is exposed to. you talk and the statement it will go on for the foreseeable future, litigation risks and charges that may be exposed to the banking sector. how long are we talking? one year, two years? 5-10 years to come? it isustrywide issues and not easy for us to make an assessment of how long it will take for the issues to be resolved and how. i have to say i have no indication of this anytime soon.

therefore, we have to use cautious language. me live fromoins zurich. clearly litigation as an ongoing concern, but it looks like investors might see rewards? >> yes, mark. there is a silver lining for many investors. when you look at the huge one off events for ubs and the last quarter, enormous charge when it comes to litigations and uptake, a benefit related to tax also coming. we are trying to work out what could be coming for investors? visio, promise they will see rewards in terms of dividends. they raise a lot of money this year and boost overall capital efficacy and now they believe it is the right time to hand back some of the money to investors. are money is left when you

taking such huge charges? ubs posted a profit, a sizable profit for this quarter, not as much as expected but in excess of 700 million friends. investors can get money back. >> we have always been certainly industrywider issues that could affect profitability, but our commitment to return more than 50% of profit to shareholders, 13% andve a ratio of another ritual of 10% is intact. and i am very confident we will achieve that this year. a tale of two halves. ubs is trying to sound optimistic. they said they have investment

banking improving and new money, into the wealth management, the biggest wealth manager in the world and new net inflows. they are saying, the numbers are good underlying, but we are nervous, cautious. he said it had never seen this level of nervousness in other clients ever before and they are holding an awful amount of cash. they are worried about ebola and geopolitical risks and the economy and what the ecb can do about it and what politicians must do about it, mark. it really did feel that overall, you guessed it sounded pretty wordy to me. >> thanks a lot. -- ubs is sounding pretty wordy -- worried to me. ask >> thanks a lot. caroline hyde. two.ll be back in ♪

>> welcome back to "countdown." i am mark barton. it is 6:22. investors are giving their results on the ecb see stress test yesterday. the two-day monetary policy kicks off today. hello. your verdict on the ecb stress test?

i think there are a lot of interesting things that have come out. to my mind, the most important thing is that transparency it has given. we have been given a wealth of information and when you look at the level of detail it gives us analyst a lot to work with and to my mind one of the interesting takeaways was at the press conference where the vice president made it increasingly demand as he credited the problem. this is the managed -- message we have heard from some time which is basically it's up to the government to take action reform,the structural on the better mix of fiscal policy. this is where some the criticism perhaps comes up in the stress test. i have heard from some observers that they would've liked to see a more severe and deflation tested. , amy point, to my mind stress test is always a balancing act.

if you make it too severe, it can become a self fulfilling prophecy. if you do not make a severe enough, it is not even the credibility you are looking for. i think this is where the the one stands out to be different. yes, you can argue there is not an outright deflation, but there is a significant downward adjustment and more importantly, there is a significant negative shot to gdp. -6.6 percent and importantly taking it out another year. the stress is for a longer piano of time. i feel the adverse scenario was recently adverse and i do not feel particularly happy about it. what worries me now is will the governments take action and take us forward? >> or do you think they will with the bickering between structural reforms? are we making progress or not? at a are making progress

much too loose lopez. when we see the results, got from the european council, we do not get the sense of something urgent. since then, with had a small adjustment to the french budget which was announced yesterday that is helpful and encouraging. reallynot getting that dynamic acceleration on the theal policy and of different initiatives. my scenario is basically we are in a low road environment for quite some time and some parts will help in the second half of next year with a lower oil price , slight help from the weaker euro and a couple of little things. it is little things i am adding up and it does not give me a powerful list, a slight -- bitario draghi is doing his uncovered bonds.

that seemed to be about occurrences figure. figure 800. >> i would be really careful to read too much into the first number. my view would be, we needed to see more numbers coming out here to see how aggressive the ds going to be with a different purchase -- to see how aggressive the ecb is going to be with a different purchases. the question to my mind is really, will it work for the real economy? i do not have to look very far for an answer because mario draghi has told us. without a more determined effort on the fiscal policy -- it won't work. that is what i find so interesting. we look at the government and say they are not doing enough quickly enough and we turn to mr. draghi and ask, what are you going to do about it? >> back to you in a second. michala marcussen. withrench drugmaker is out

earnings. stay with us. all of the details. more from michala marcussen after the break. the two-day meeting on monetary policy. ♪

>> welcome to "countdown." i am mark barton. a look at your fx check. the euro is rising for a third straight day against the dollar. investors are thinking they will keep interest rates at a record low for an extended period even as they do bond buying and qe could end tomorrow. discussions in the marketplace a week or so ago that q4 could be launched.

stayill and in rates will at a record low for an extended period of time. the bloomberg dollar index, its first monthly drop since a june. investors cut in the willal-bank wool -- borrowingcut -- will cut borrowing costs. how things have changed since the end of september. the euro rising for a third straight day. these are the top headlines. if there's evidence of misconduct is a message on one of the bank of england deputy governor's and she said the behavior of some traders is "clearly shocking and confidence

in the currency and commodity markets has been damaged by unacceptable abuses." they are looking at regulations that might include restrictions and tougher capital rules. unionosed european surcharge of more than 2 billion euros will be on the agenda with the chancellor of check meets his german counterpart this week. the surcharge is categorized as a contribution to the budget relative of the economic performance. british prime minister david cameron has rejected called unacceptable. billion surcharge is due on the first day of september. officials., health say anybody with direct contact held inla should be their homes for 21 days. they stopped short of mandatory

quarantines. it apply to health workers coming from west africa at any buy in contact with ebola patients in the united states. reportedugmaker sanofi earnings as i speak. by 10%.its arising bolstering chief executive's case. exclusive some -- excluding some costs. is 11478 euros a share. in line with analysts. 2008 -- heed cents hasn't ran it since 2008 and it sincehe has ran 2008 and wrote a letter about why he should keep his job and that is according to a french

newspaper. he is the person with knowledge. at least for now, it seems as the ceo keeps his job and today's earnings should bolster his position. of currencyme costs swings rising to 1.9 4 billion euros in line with analyst estimates. and back to the markets and beginning of the two-day meeting. michala marcussen joins us now. around.u for sticking how much attention will be paid by the fed to the wickedness of the markets -- we can this of the markets and activity -- weakness of the marks and activity? >> the underlying u.s. economy remains robust. that is the first point for of to keep in mind. markets and economic link together.

if we have a severe and negative market environment, will is slow the fed? yes, it will. if the underlying economy in the u.s. proves robust tom we are getting back to something circular. when i look at the situation and what happened to markets, we had a rewriting of the global thepects and consensus on euro has moved down much closer to our are forecast at the moment which is 1% in 2015 and moved down on emergency economies. the consensus on the u.s. economy has held up reasonably well. and that type of contest if the u.s. economy continues to do well and have significant growth for the rest of world, the fed will be focus on the local conditions and domestic conditions in the u.s.. the big question is, how much spare capacity do we have and when we see an acceleration in wages? we think it will come through

into next year and the fed will be hiking the middle of next year. when we talk about the bond market, how much of a drag they'll low yields are on the premium and my view is that low bond yields in the rest of the world are having a significant pull down year for the longer and of the u.s. -- and of the u.s. and is from ben bernanke's side. i see the drag coming through. >> qe ends tomorrow are do they keep 5 billion on the table? they will into qe tomorrow. i do not think keeping 5 billion on the table is helpful. what will be the focal point is how will the language change? my view is we want to see very small tweaks but it will be the notion of a very long period until good to the first rate hike. >> which is the middle of next

year which is your opinion. michala marcussen, global head of economics. energy rates today. the world's biggest maker of pipeline. ryan chilcote sat down with in schools of interview with the man known as the guests sat down with an exclusive interview with the man known as the man of pipes. companies -- and the biggest you have ever heard of. >> not everyone has heard of tmk , but it is listed. we met, for the first time last year and he is back. what is really nice here is tmk and the chairman of it have a really unique insight into the problems that russian companies even when they happen international footprint and listed in london are finding in locating people in international capital markets that will long

to them despite the fact that in other circumstances, they are not sanctioned. they would be good to lend to. have a listen. -- [indiscernible] especially the economic environment and concerning russian economic situation. -- year you have to pay is million and that [indiscernible] and the our security big russian banks and so we think. intobruary, we are going to make the payments. >> russian banks are going to refinance part of it?

you are a classic example of refinancing story of russia. tmk has not been sanctioned, but international debt markets must be pretty much close to to you, right? >> he yes, unfortunately. unfortunately. has access companies to the markets and operate quite successfully. >> is that it? russian banks -- you were talking about ipo'ing your u.s. business and generate some money and use that? >> it is one of the possibilities we could consider conditionsome -- in some conditions, but we need to handle some issues before such a

s significant -- it is one of the ways to solve it. has a eurobond coming and they said that can cover it. going forward, the problem and it is not unique to tmk and that is overseas borrowing. he tells you how they looking at the possibility of ipo'ing its u.s. business data they have to firewall from their russian this to keep it clean. you cannot have u.s. banks funding their u.s. operations at russia because of the sanctions that is companies are facing. >> he is uniquely placed in the oil and gas sector. >> look, the first thing i wanted to know because of the if he's selling less

price to them and the answer is, no. keep one now while we saw the price decline by 25%, we are seeing the ruble come down even more so there are costs are getting cut. their investment programs are in place so far. that is something there are are watching. the other interesting thing is that have a very sizable business in the united states especially with shell produces who are like of regional producers need a huge amount of pipe. around ad-1, are they seeing some of these companies, we do not need europe-next year because we're pulling back a he said, no, he is not seeing that. he sees a strong fourth quarter as some partners say they are profitable. >> thanks. coming up, is volatility here to stay in the markets? it is been a volatile market.

volatility with our guest right after the break. stay with us. ♪

>> volatility is a bad.

is it a new period of volatility? -- >> volatility is that. >> volatility is back. joining us is seth. volatility is a back? >> we have a massive iscentration of assets which basically focusing on massive amounts of money on a few stocks. high with that, we have trading. any time there's a movement you have a massive amount of volatility. even we have zero volatility or prices.massive >> which your client must like. >> our clients like to take a direction. they do not need to invest a lot of in one way or another.

if there is something that is a catalyst of the markets, they are going to start putting that money to work. >> it might be happening in the next 48 hours. has qe ended? maybe leave a little on the table or is it over? zero-sum game. trying to forecast what the fed will do. i think ae is that, lot of the ending has been in the market for so long, i do not know that will trigger a lot of volatility. although people are forecasting a lot of volatility in emerging markets. a big problem will be the fixed interest market, especially with the banks having passed the stress tests. the constraints on their assets is still pretty severe. they do not have the amount of money to facilitated visa markets as they have always done

in the past. as qe2 ends and interest rates start rising, you'll see a lot of money pulled out of the fixed interest accounts. there's been a trillion dollars that the left equities to go to the fixed income markets. have not seen any losses in the past 10 years. seenterest rises, they will losses. that means a lot of exits. >> is there enough -- >> the interest rates have been so low that the the amount of issuance of corporate bonds has risen. the amount of capital that the banks have to facilitate are down by about 75%. liquidity has gone into the markets of providing institutions the ability to trade corporate bonds and hopefully, have the amount of liquidity. the amount of exits that have been traditionally provided in the past by the large brands are no longer -- >> to trigger

bigger declines, couldn't they? right across the board selloffs instead of what you want to sell? exactly. a lot of fund managers are going to exit what kind of liquid bonds they have and in anticipation of qe3. are going to start getting a lot those bonds off of the ballot -- balance sheets. to bodethat is going well for equities going forward. years, fixed10 income has been a great investment. >> let's switch to equities. what will happen? has believe the catalyst always been as interest rates start rising and a lot of people investing a lot of money into redfixed income as seeing on their statement. there is no place else for them to put their money than equities. the statement i like is that --

>> everyone called the bond market -- especially in the u.s. market. yields worst post be up to 3.5%. >> the quantitative easing has rates artificially low. there has been an artificial pressure on this and in this market. as that comes off, interest rates will find its natural level and will not be at the level it is at now. agree thate can all there's only one direction for interest rates to go and it is probably going to be up. >> it is when it takes late. give us some type of a month. you mentioned of further rate hike will -- give the year. chris some are pushing back to 2015. with had to guess said forget 2015. -- we have had guess that said

forget 2015. some have said at that banks have lied to customers and misled. how is that affecting trading platforms like you know very well? theark pool, what is purpose? so much money, pension plans and mutual plans, dark pools were for institutional investors to trade anonymously. most of the dark pools have evolved into providing no value above and beyond what is found on exchanges. they are smaller than what is found on the exchange. if you want to buy 1000 shares of something, would you want to buy one share at a time? execution in the united states is 187.

it provides an average execution size of 400 times of the dark pools. we provide a value above and beyond what is found on the exchanges. what regulators around the world are dealing with they'll -- is what is the purpose of dark pools? perhaps your bones should go back to the exchanges after five liquidity for the rest of the world. issues like barclays and investors and the united states and fcc are focusing on is transparency and what is going on and dark pools. finding issues that previously were under the covers. ultimately, that is good for the markets. i think the markets have to simplify. they cannot have 50 different that are really competitive. if you add value of above and beyond found, that's complementary and good and that

makes markets more efficient. otherwise, you should have forange and a facility institutions to be able to trade safely away from high-frequency trading and anonymously and the size they need. it is good from the people who invest in the visual funds. >> great chatting with you. come back. seth merrin. coming up, a christmas tradition is coming to an end. we discussed the story and more and the newspapers settlement. ♪

>> welcome back. i am mark barton. newspaper time. ryan and i are here. nobody ran into the prime minister. >> he ran into the pie -- prime minister and you was out for a himing jog and he ran into and did not know what he ran into. thus, yard is -- does, yard is doing an investigation -- the scotland yard is doing an investigation. s, they thought he was a protester. he said, he wish he had something to say. he was out for a run.

cameron was apparently a little shaken. harrowing.id it was >> if you know chocolate coins? how many have you eaten? canterbury consigns it to christmas past. they are discontinuing making chocolate coins. the once wrapped in gold foil. they said shoppers has switched to discount and wrapping foil around a piece of chocolate -- and they will discontinue. ury is purple so they found it difficult to differentiate themselves and they will stop doing it. ar.re has been an upro beeneacher said she has buying it for 40 years and she is genuinely upset. >> maybe they will become a valuable.

>> join us on twitter. a big day on twitter after we has slowed.growth i am on twitter. ryan is still on twitter. stay with us. ♪ .

>> u.b.s. misses on profits. we're in zurich with their chief executive. twitter selloff. shares fall as much as 12% in extended trading. user growth slows at the social network. an exclusive interview with the biggest maker of pipeline for he oil and gas industry. >> we were able to --