>> live from pier three in san francisco, welcome to bloomberg west, where we cover innovation, technology and the future of business. missouri governor jay nixon says more than 2200 national guard troops will be in the ferguson area tonight following last night's mass protest. violence we saw in the area of the ferguson last night, it cannot be repeated. in order to protect lives and property, we are bringing more resources to ferguson to prevent a repetition of the lawlessness experienced overnight. the national guard preference --

presence will be ramped up significantly. >> protesters vandalized more than a dozen buildings last night after a grand jury decided not to indict the police officer who shot and killed the black teenager, michael brown. the u.s. equity markets were little change with the nasdaq extending its 18 year high. the dow and s&p closed down slightly. trading comes after the commerce department said the u.s. economy grew at a 3.9% annualized rate, up from an initial estimate of 3.5%. hewlett-packard says sales fell in the third quarter $228.4 billion. hp saw declines in its enterprise units but sales from its pc units were up 4%. hp plans to's flick the company into two units, one focused on enterprise and the other focus on pcs and printers.

tivo reports a 1% gain in but a droper revenue in profits. the company has been spending heavily, expanding in europe as it tries to add drivers. the company saw a gain in total subscription. >> now to the lead -- or member all of the comments from tech observers that apple had lost its ability to innovate or apple was losing its cool? it appears apple has the last laugh for now. apple really cost -- crossed the $750 billion mark today, the highest ever for any u.s. company. apple shares have advanced about 48% this year and 22% the introduction of the new phone, so why is there so much for investors to love right now? joining us right now is a cantor fitzgerald analyst, always great to have you on the show.

why is confidence in apple so high right now when really the iphone is the huge portion of the revenue and we don't know how the next product is going to do? >> i think there are three factors. got itthe market really wrong that apple is not an innovator. number two, the valuation is very depressed -- if you look at companies that sell sugar water, they trade at 20 times over that are year. number three, we are getting the first new product category since 2010 with the ipad and we call that a super cycle. optimistic are you about the apple watch? we still don't know how big the market is for this and if it's going to be as big a market as the iphone. people keep saying it is a niche product. >> i think it will be huge. if you look at the number of watches sold each year, it's off

the charts. a lot of these are cheaper watches but the total number is incredible. we used an 18 to 20% conversion rate. i think it will be the fastest-growing new product category and apple's history, surpassing the ipad. >> how concerned are you that at this point, the iphone is such a big portion of the revenue? >> it is a big piece of the forward,ut as we go apple increasingly will diversify. also think there is going to be an apple tv i think there's a lot to look toward to in apple and that is what the stock is starting to show you. still think there's going to be an apple set? quite a few people would disagree with you. the people we have spoken to

have said we thought they were going to do something with tv and think i have found it too difficult, so that is not going to happen anytime soon. >> whether it is a set-top box device or actual television, they in my view will enter the television market over the next few years. billiont is a $100 product category and apple, depending on the factor won't price it like the average television. i think that is very exciting. tablet marketde is predicted to decelerate and we know ipad sales have been slowing down. how much of a concern is that part of the business? >> that's a good question. tablets are kind of a train wreck. i think what you are seeing is more and more companies exit the market, so that's going to be good for apple.

tablet is expected to be the go to consumer electronics vice. greathink that will be for the ipad franchise and i think you will see apple do different things with the ipad as we move forward. all of the concern about steve jobs no longer running the company, -- >> we have breaking news to tell you about -- president obama is taking the stage in chicago, speaking at the copernicus community center. he is expected to make remarks on immigration reform. >> grand jury made a decision yesterday that upset a lot of people. as i said last night, the is nottion we have seen just about a particular incident. they have deep roots in many communities of color who have the sense that our laws are not always being enforced uniformly were fairly. that may not be true everywhere

and it is certainly not true for the vast majority of law enforcement officials, but that is an impression folks have and it's not just made up. it is rooted in realities that have existed in this country for a long time. there arelast night, productive ways of responding and expressing those frustrations and there are destructive ways of responding. burning buildings, torching cars, destroying property, thatng people at risk -- is destruction and there's no excuse for it. those are criminal act. ifple should be prosecuted they engage in criminal act. , althoughe also saw it did not get as much attention in the media, was people

gathering in overwhelmingly peaceful protest in chicago, new york, los angeles. we have sing and people organize and people beginning to have real conversations about how do we change the situation so that there is more trust between law enforcement and some of these communities? those are necessary conversations to have. we are here to talk about immigration, but part of what makes america this remarkable doesn't being american mean you have to look a certain way or have a certain last name or come from a certain place. it has to do with a commitment to ideals, a belief in certain and if any part of the american community does not feel welcomed or treated fairly, that is something that puts all of us at risk and we all have to be

concerned about it. message to those people who are constructively moving forward, trying to organize, mobilize and ask hard, important questions about how we answer these questions, i want these folks to know our president is going to work with them and i think you will find a lot of -- [applause] separate and apart from the particular circumstance of ferguson, which i am careful not to speak to because it is not my on as president to comment ongoing investigations in specific cases, but the frustrations people have are rooted inse some hard truths that have to be addressed.

those who are prepared to work constructively, your president will work with you and a lot of folks in law enforcement and a hall's ands in city governors offices across the country one to work with you as well. as part of that, i have instructed eric holder to identify specific steps we can take together to set up a series of regional meetings focused on building trust in our communities. next week, we will bring together state and local officials and community leaders to start leaders identifying specific steps we sure lawto make enforcement is fair and is being applied equally to every person in this country.

know certain things work. if we train police properly, that improves policing and makes people feel that the system is fair. we know when we have a police force that is representative of the communities it is serving, that makes a difference. [applause] we know when there is clear accountability and transparency when something happens, that makes a difference. there is a specific things we can do and the key now is to lift up the best practices and work city by city, state by state, county by county, all across this country because the problem is not just a ferguson problem, it is an american problem and we've got to make sure we are actually bringing about change. the bottom line is nothing of

significance, nothing of benefit results rum destructive act. i have never seen a civil rights law or health care bill or immigration bill result because a car got burned. vote,pens because people people mobilize, people organize, it happens because people look at what are the best policies to solve the problem. that is how you actually move something forward. [applause] don't take the short term, easy route and engage in destructive behavior. take the long-term, hard, lasting route of working with me and governors, and officials to

bring about some real change. think what happened in ferguson -- i don't have any sympathy in -- adam have any sympathy for that. i don't have any simple the all for destroying your own communities. but for the overwhelming majority of people who feel in pain because they've got the sense that may be some communities are not treated fairly or some individuals are not mean as worthy as others, i understand that and i want to work with you and move forward with you. your president will be right there with you. that is what we need to focus on. let's be constructive. [applause] appreciate your patience

because i know you came here to talk about immigration, but this is relevant. ist of what america is about stitching together folks from different backgrounds and different faiths and ethnicities will stop that is what makes us special. sit --k -- let's they sometimes that is hard. sometimes that is hard to do. but it is worthwhile. it is worth doing. i was traveling in asia to few you go to japan, they don't have certain folks being discriminated against because most people are japanese. [laughter] but here, part of what is wonderful about america is what makes our democracy hard times. sometimes we get attached to a

particular tribe, race or religion, and then we start treating other folks differently all stop that has sometimes been a bottleneck to how we think about immigration. look at immigration, each successive wave, there are folks who are here say i don't want those folks. even though the only folks who have the right to say that are some native americans. [applause] it is fitting that i have come here, back home to chicago because chicago has always been a city of immigrants. that is still true in the neighborhoods that define this city. [applause]

especially on the north side appear. we've got everything up here. [laughter] you go to the public schools around here and you've got 50 or 60, 70 different languages being spoken. chinatownsonville to to greektown, ukrainian village -- immigrants have made this city of broad shoulders their home all stop we are swedish, polish, german and italian. everybody is irish on st. patrick's day. [applause] like pat's win, our governor. [applause] gutierrez, our

congressman. [applause] jan schakowsky, another congresswoman. brad schneider, congressman. emanuel. [applause] all mixed up. [laughter] ahm, i mean all of us together. [laughter] it is true that rahm speaks a language that can't be translated in front of children. [laughter] , although he's the mayor now, so he doesn't do that anymore, i'm sure. driven along the

kennedy has seen the steeples jabbing at the sky, as diverse as the house of worship they belong to an immigrant to build them and the communities who call those neighborhoods home to this day. today, we are here in a polish community center -- [applause] i was just meeting with a group of chicago's business and civic leaders representing people who --e in from mexico, china you just heard billy lawless who was a successful business owner back in galway. he says -- and i am quoting here -- i had a thing for the united states stop i will always wanted to see if i could hack it with you guys. so he comes to chicago, opens an irish pub because there was a

shortage of irish pubs in chicago. [laughter] then he opened another restaurant, then another and another. four months ago, billy and his wife became american citizens and they voted for the very first time as americans on november 4. you could often find their son also named l.a. charming the heck out of customers at all hours of the day and night stop they've gone from blowing 10 workers to employing 250 workers. and you just heard what he said -- this is what immigrants do. one study a few years ago found immigrants start more than a quarter of all new businesses in the united states. one quarter of them. another study found immigrants and their children start over 40% of fortune 500 companies. think about that.

but it makes sense because being a nation of immigrants, gives us advantagerepreneurial over other nations. if you are willing to strike out and go someplace new and build from scratch, you've got the sense of eating willing to take risks and being able to build something from scratch. -- that'shat spirit part of what the american spirit is all about all stop it is part of what drove us westward across , not feeling like what is in front of you is the only thing that's possible, but that something else is possible. because of those businesses started by immigrants, we all benefit and it means more jobs and more growth for everybody. our said last week, immigration system has been

broken for a long time. families who try to come here the right way can get stuck in line for years to stop business owners who treat their employees right often see the competition exploit undocumented workers to undercut businesses. all of us, i think, don't like the idea that someone can reap the rewards of living in america without its responsibilities. and there are people who does lee one to embrace those responsibilities, but they have no way of coming out of the shadows and the right the law. so everyone is stuck with a system that doesn't work for anybody. a year and a half ago, we had a big majority, democrats, republicans, independents in the united states senate and they

passed a bipartisan bill to fix the broken system. the bill was not perfect. it did not have anything i -- did not have everything i wanted, but it did reflect common sense. we would have doubled the number of order patrol agents, so if you are concerned about illegal migration, it would have made our borders that much tougher. it would have made our legal immigration system smarter and terror and reduce some of the backlog that hampers families from getting here. it would have given millions of people a chance to earn their citizenship the right way. and -- an independent expert said over the next two decades, the new law would grow our economy and shrink our deficit. had the house of representatives allowed a simple yes or no vote on that kind of ill, it would

have passed. that's all they needed to do, just call the bill. it would be law right now and we would be well on our way to solving the problem's in the system. i would be implementing those provisions, but for a year and a half, over 500 days, republican leaders in the house simply refused to allow a vote. they would not let it come to the floor. the best way to solve this problem is working together to pass that kind of common sense law. to billy andlking other civic leaders, there were things that can only be solved by congress for top but until then, there are actions i have the legal authority to take that will help make our system more fair and just and i took them last week. they were the right ring to do.

[applause] so we are devoting more resources to law enforcement to stem the flow of illegal crossings at the border and speed the returns of those who do crossover. we are initiating smarter reforms so entrepreneurs can stay and contribute to our economy. and i am taking new steps to deal responsibly with the millions of undocumented immigrants who already live here , including here in chicago. i have said this before, so i want to be clear and i say it in front of immigrant rights groups all the time. undocumented workers who broke our laws should be held accountable. there's a particular category,

and that is those who may be dangerous. it is a small but significant minority. that is why deportations of criminals are up 80%. we will keep focusing our limited resources on those who actually poses a threat to our security. helen's, not families. , not some mom or dad who was working hard trying to make a better life for their kids. >> [indiscernible] >> that's fine. thank you.

>> [indiscernible] >> i have heard you. >> i understand. hold on hold on -- hold on. just --dy, and don't don't just start yelling. -- why don't you sit down? can i just say this.

i have listened to you, i have heard you, i have heard you, i have heard you. , i letbeen respectful you holler -- [applause] nobody is removing you, i have heard you. but, you have to listen to me too. i understand that you may disagree. but we have to be able to talk honestly about these issues. , thate absolutely right there have been significant numbers of deportations. that is true. not payingu are attention to is the fact that i

just took an action to change the law. the way the change in the law works is that we are reprioritizing how we enforce our immigration laws generally so not everybody qualifies for being able to sign up and register, but the change in priorities applies to everybody. although i disagree

with some of your characterizations, it does make much sense to yell at me right now when we are making changes. [applause] , let's make sure you get the facts and you know exactly what we are doing and if you have disagreements, put them to work through the immigrants rights organizations we work with to try to address your concerns. but here is what won't work -- will -- what won't work is folks just shouting at each other. i would ask you now to let me speak to all the other people who are here. [applause]

>> [indiscernible] >> it's good to be back in chicago. everybody's got something to say. but i'm not -- speaking at obama the copernicus community center in chicago, getting yelled at by members of the audience, specifically with regard to his stance on deportation which have risen to record highs under his administration. some people were yelling "stop more."tions -- not one he talked about the not guilty verdict for officer darren wilson, but that takes no excuse for destruction behavior. president obama promising to work with law enforcement to

make sure the system is fair. he understands frustrations being expressed are rooted in reality and problems with the system. we will be speaking with jose antonio vargas, and undock demented immigrant and immigration activist about immigration reform and the situation in ferguson, next on "bloomberg west." >> what i think is positive is there's an opportunity for all of these groups to come together and say we have a united front and what the president did was a good first step and we need more. >> it does cover 4 million undocumented immigrants. , congratulations. what should the number be? >> what are we going to do with the 11 million people? anything isk

comprehensive enough until we address the whole problem. we have not passed immigration reform in this country since 1986. three years before taylor swift was born. swift wasn't even conceive jet when they passed immigration reform we have was passed and that was not comprehensive enough. now we have an opportunity to think about the entire picture. but the politicians we have our way too small in the way they want to think about the issues. >> the tech community agrees with you. forward. u.s.t to because they thought about these issues beyond the tech and entrepreneur weller -- entrepreneur world. any group that does this work, this is not a simple issue.

as a gay man, can you imagine lgbt writes without ellen the generous, without will and grace, without modern family, without the culture having to shift first? culture is politics. how we as a change culture talk about undocumented before anything political is going to comprehensively change. >> who is winning right now? >> who is winning? i think it's going to be thanksgiving. the ultimate immigration holiday. i am grateful that you have 4 million people who don't have to look at their back when they see a cop thinking they may get the port of all stop >> we should mention that you were arrested >> glad you made it out.

tell us about that experience. isfor me, the most real part i ended up going to texas. have you ever been to south texas? >> i have not been as far down were. i have been to the california border. insident there to film one of the shelters because i wanted to see these kids. i was haunted by the images i saw on television and the fact that we were calling these kids illegal. can you imagine? i went down there to film and ended up getting arrested and was put in the same detention center, a prison cell with the kids. can you imagine these kids, mostly voice who are locked up in a prison cell because we are not able to ask the hard questions about why they are coming here to begin with will not come here to

cross the border. they don't know what the border is. came here because what's the responsibility of our country? when was the last time you heard about the kids? >> what he think is going to happen with deportations? happens now? >> this is a way for president obama who is overseeing the largest deportation in american history. this is a way -- i'm sure he did d-up orderalled the in chief. this is a way to alleviate the pain undocumented people live with an people like me don't have to worry about that. that's a way to address that. likely to respond to president obama. how confident are you they will i was onght thing? >> bill o'reilly a few nights ago after the president gave his primetime speech and ill

o'reilly said people like me don't deserve to be here and that maybe i feel entitled. myas so busy thinking about mom that i wasn't really focusing on what he was saying and all i could think of was what have you done to earn it? americans ask us all the time -- you should earn it. let's ask the american people, have you earned it? does being born here, does that mean earning it? you were born in america, congratulations. >> according to the law. >> i think undocumented people show people what it is to be american because we have to fight for it will stop it's not just something that lands in our lap. after the president issued this order, there are 90 days to come forward and go through the deferred action program.

after that, i can apply for an advanced parole. we will continue this conversation after the break. vargas.onio we will be back with the founder of defined american, next. ♪

>> i'm emily chang and this is "bloomberg west." president obama's proposals on immigration reform will bring status to some , but some in the tech committee think president obama has not been up to bring highly skilled immigrants to silicon valley. joining me to talk about this is jose antonio vargas. -- have also taken on none taken on another cause, which is what was going on in ferguson missouri. >> i have been paying attention.

one of my favorite groups is the dream defenders. follow them on twitter. it's basically a coalition of round and black americans who realize our struggles are interconnected and we should work together. and a million hoodies for justice, that's another group doing spectacular work. were tweeting about this and one of your tweets -- connecting the dots dustin -- connecting the dots -- the deportation machine. what do you mean by that? i have to say this is when you are really thankful for social media. people exposing what they think and how they feel, the limitations of their own lack of historical analysis to what is happening. i try not to read too many of the negative comments, but what

people are saying about the case and the testimonies have been you haveand i think two c ferguson and michael round in context of the american criminal system of stop and what black man in particular. i don't think it is any surprise to us in terms of what the numbers say. the inherent injustice in that black -- i have a lot of female friends who are mothers and the way they think about young black children, especially young lack the ways being in the street and how they can get arrested at any point -- that's a human thing and i think this michael brownout or ferguson. it's the entire history of all of that full top that's

happening at a time in which are country -- the media likes to say we are in this post-racial america. absolutely not stop if anything, the racial conversation has really started. asians inatinos and this country, particularly in the immigration rights movement who are getting detained and deported in record numbers. >> when you look at this verdict, is it the wrong decision? >> i'm not a legal expert, but i still can't believe given the particulars in the case that nothing was done. i don't know about you, but i was preparing for some sort of maybe they will figure out a can't just say nothing. >> what do you mean nothing was done? the grand jury has been focused on this for the last three months. given that this case has to

be viewed in context -- there's a reason why there are riots and protests across the country, including in san francisco. i live close to the mission and to hear everyone get all riled up -- it represents the inherent injustice as it relates to black men in this country particularly. is, irdict, such as it don't think -- i think it is a missed opportunity. and i have to say the president last night, we were waiting for something more. maybe we will get some sort of healing words. maybe something he will say will calm people down, but that did not happen either. >> you have made a film and you are working on spreading the message further. tell me how you are doing that much mark >> i'm starting to work on a film for mtv on what it means to be young and white in america.

i've done about 300 events in 44 states, i visited a lot of colleges. experience, young, white americans, this idea of white privilege and young white people not knowing where they are from, as a filipino-american who is undocumented, i'm very much aware of where i'm from and the price that was paid to get me here, literally and figuratively. when i talk to white people about immigration and race, i find it interesting that we have not really turn the tables around and asked people where are you from and how did you get here? younglled millenial's and white americans feel they are as much a victim of discrimination as people of color are. that's really fascinating. ofecially in the context

artisan and immigration. so our job in the film is to unpack that and create a space for young, white americans to talk about these issues and don't feel like they are being attacked or judged stop >> hosea antonio vargas, activist, film maker and so much more. andk you for stopping by sharing your passion about all of these issues and stop but thank you for having me. >> are consumers going to change their shopping habits with a hack attack against retailers? areill hear what consumers thinking in a special shakedown, coming up. ♪

>> this is "bloomberg west."

i'm emily chang. retailers and online are getting ready for the two biggest shopping days of the year, but will black friday and cyber monday bring record-breaking revenues or will shoppers choose to avoid the chaos? we asked 950 people for this month's surveymonkey shakedown. it's surprising that a lot of people are avoiding black friday. >> almost half the people say they just want to avoid it will stop i wonder if all the attention around people camping outside and getting trampled in stores is just starting to turn people off to this thing, that we are getting a negative reaction. we don't have trending data but it will be interesting to see what happens to stop >> i'm on the j.crew e-mail list and the non-holiday time, 30% or 40% -- can they really

on blackmuch better friday or cyber monday? >> i think people are getting a little cynical about it stop only about a quarter of the people say they will be inclined to shop on those days. at whereys took a look the best deals are coming from and they are still coming over e-mail. next people talk about e-mail dying, but for e-commerce deals, it's the primary thing. social mediahat was almost the same as tv ads, ago, if we look five years it would have been mostly tv ad driven. so e-mail is the winner but social media is coming up. took the opposite view, which is social media has not caught up to e-mail. >> if you think about it this way -- it's almost like you are looking for a deal and social

medias up place you're going to look. the other big winner of this survey is amazon in terms of where people are looking to shop. 50% of people plan to go to amazon. closed.e else is it is fascinating given there were all of these hassles at christmas, nobody is laming upson, they seem to blame and fedex because amazon came up on top for customer service as well but everyone else's so far behind, that has to be scary. >> is someone going to -- eric schmidt recently called them google's rigorous rival. is another company going to catch up board is amazon have a lock? >> this is a scary thing if you are not amazon and a good ring

if you are. see why google would be nervous about it will stop if you know you can get anything you want purchase on amazon, why would you go to google and the first place? hack --ve seen the big it's probably already happening and we probably don't know it. our shoppers going to change their behavior? >> people were concerned and certainly more concerned and they have in the past. when we dug deeper into this, we only 15% of people said they were not going to shop at stores that had a credit card breach. target was still showing up high on the list of places people go. people may have forgotten that target was one of the companies that had a breach this year.

when you get down to specifics, it doesn't really seem like it's going to change behavior. >> thank you for stopping by. happy holidays. time now for the bwest byte -- where we focus on one number that tells a whole lot. we have a special guest today in l.a. what number do you have for us today? >> three. >> and that is? >> the number of actors that have been up for the part playing steve jobs in the upcoming film about the apple founder. >> news today that you and i have been talking about -- is this movie going to get made? sony most recently dropped out but universal today announced they are buying the rights to this film. >> over the past week, it has emerged that sony wanted to drop the project but it has owned

died 2012 after steve jobs , based on the book by walter with a script by aaron sorkin, it looks like a great project, but there have been a lot of changes. yearsof films take many with often lots of changes. we have seen leonardo dicaprio considered for this role and he dropped out and then christian bale was going to play the role and he dropped out. the latest is michael fassbender who you may have seen an "12 years a slave. it is unclear if it is confirmed, but he is the latest actor linked to it. was very excited about the project and thinks it's best script he's ever written. how optimistic are you that this movie is actually going to get universal picked up the

project quickly and one of the numbers floating around as they paid $30 million for the film. we have not confirmed that. there is a lot of enthusiasm for the film and any boil is attached to direct it. ishas won an oscar and there some great talent attached to it. films take a long time often to put together and they see changes. >> how many years are we talking about? when will this be in theaters? >> there is no release date yet and i was just checking with sources. no plans for a release date. my understanding one of the reasons sony dropped out was that filmmakers wanted to get it out sooner than sony could accommodate and that sometimes happens with studios when they've got three films they .ant to make >> we have to leave it there and

we will have to wait. thank you all for watching. ♪