stephanie: happy birthday to the bull market. it began six years ago today. we will see how much longer can this bull run. matt: stephanie, do you want the internet on your wrist? apple is counting on that. hoping that the new apple watch is you must buy device. stephanie: and mary barra in the drivers seat.

how the new general motors ceo makes the glass ceiling. a new book tells the story. welcome to "market makers." i am a pretty excited stephanie ruhle. matt: i am matt miller, in for erik schatzker today. can't describe how refreshed i feel after a week of vacation. there is a lot of interesting news going on. stephanie: here we are, six-year anniversary of the bull run. let's take you to the bulletin the top business stories. the preliminary agreement between greece and its creditors -- surprise, surprise -- is starting to crack. european officials say that greece's latest proposal falls far short of what the country promised two weeks ago. the head of the finance ministers group says that because of that, greece probably will not get any eight minus month. the new greek government is opposed to more austerity measures but it needs more money from europe, someone else are they going to do -- so what else

are they going to do? mcdonald's new ceo has got his work cut out for him. i love to say it is going to be a whopper. u.s. sales fell 4% in february, much worse than expected. global sales came up short, too. steve easterbrook took over as ceo last sunday. in a statement, the company said that consumer preferences have changed and it realizes it must change along with them. general motors will spend billions of dollars in a share buyback after being pressured of course combine activist investor. gm will buy back $5 billion with of shares and will return more money to shareholders as the cash politics rising. it is all part of a settlement with investor harry wilson. wilson had pushed for any billion-dollar share buyback and a seat on the board. he has dropped his request to

become a director. of course he has. he is getting the dough. a warning from republican senators to iran. in an open letter, they are telling iranian leaders that any nuclear deal they sign with obama will not last after he leaves office. senators from both parties are pushing to have their say if and when a deal gets signed. president obama says that the u.s. is willing to walk away from nuclear talks with iran. the president was interviewed yesterday on cbs' "face the nation" and says the key to any deal is verification. president obama: if we cannot verify that they are not going to obtain a nuclear weapon, that there is a breakout period so even if they cheated, we would be able to have enough time to take action -- if we don't have that kind of deal, we are not going to take it. stephanie: talks with iran are scheduled to resume within the week.

tesla motors is cutting jobs and its unit in china. it is not saying how many, but one of newspaper says that 30% of tesla's jobs will be cut. earlier, ceo elon musk said that sales have been slow as consumers are concerned about finding charging stations. in the nfl, he is about to become one of the highest paid players in pro football. he is about to sign with miami in a six-year deal valued at $114 million. $60 million of that would be guaranteed. and he gets to leave detroit and live in miami. meanwhile, the philadelphia eagles running back, a guy i love interviewing has signed a new deal with his team. they agreed to pay him $40 million. matt: awesome get more on the standoff in europe, the greek

debt crisis that won't go away. our athens bureau chief is with us now. i thought the greek government basically capitulated in germany and its creditors at least for a while. i thought they had an agreement in place that was going to last at least a few months. why now are we hearing rumblings from the european side? >> well yes we had an agreement a couple of weeks ago to extend the availability of bailout funds, the availability period of bailout funds from greece. we do not have an agreement to disperse those funds. in order for greece to get any money, he needs to implement complete commitments to it promised pension reforms still tax reforms, public administration reforms. instead the government in athens came up with a list which includes much less substantial commitments like wiring tourists

and recruiting them as amateur tax inspectors and equipping citizens -- matt: wait a second -- wait, wait one second. tourists that to be tax inspectors? stephanie: after the official tax collectors for decades have been unable to collect taxes from greek citizens, you think the two of us wearing hawaiian -- matt: we then go collect taxes in athens. is that how it would work? nikos: yeah, you would pay her holiday with this. short-term contracts come like to-month contract. clearly the euro-area finance ministers think this is not enough. this is not what greece promise. they are going to tell their counterpart, mr. yanis varoufakis, then you need to do more. stephanie: so nikos for

investors who thought, you know what, we are in good shape, we don't have to worry about greece, they are worried again? nikos: yeah welcome we don't know exactly when greece runs out of cash but it will be sometimes in. the exact date depends on tax revenue and daily cash flows. but also, the banks are bleeding deposits. their ability to bail out the greek state with short-term notes and treasury bills is deteriorating. we know that if greece doesn't get a deal sometime soon, it will run out of cash and default on its payments to the international monetary fund. matt: nikos, how are greek bankers reacting to this? as far as the greek economy now, it is in a serious emergency

situation. do they have much time left? nikos: well, not really. the european central bank decided to hold the weekly reviews of the liquidity situation in greek banks. over the last few months we saw depositors running banks because they were afraid that savings would be denominated in drachmas . the banks are in a dire situation and only being kept afloat thanks to an emergency liquidity assistance lifeline extended by the bank of greece subject to approval by the european central bank. the institution will hold a new review of the liquidity situation of greek banks either on wednesday or thursday of this week. it is clear that the situation is -- does look very good for greece. matt: suppresses talking about

the -- tsipras is talking about the possibility of a referendum. nikos: last time the greek government floated the idea of a referendum the country was almost kicked out of the euro area. it seems many people in the greek government don't think i have a mandate. -- they have a mandate. this is an anti-bailout coalition. implementing the terms of the bailout is a huge copper mice for them. -- huge compromise for them. they believe that only the referendum would give them a mandate for a so-called somersault. matt: thanks so much. the bloomberg news athens bureau chief, nikos chrysoloras. stephanie: when we return, is the ball about to turn into a bear?

six years to the day after the stock started to rally, one investor says it is time to sell. matt: she went from gm's factory floor to running the entire company. a new book looks at how mary barra did it. ♪

>> live from bloomberg headquarters in new york, this

is "market makers" with erik schatzker and stephanie ruhle. matt: all right, i'm going to give you the top stories of the morning right now, kicking off with apple. it is hoping you will want to wear the internet on your wrist. ceo tim cook will unveil the company's latest device, the apple watch. we don't know a lot about it but it will have a rectangular touchscreen and will let you track your health and fitness. the price will start at 3:49. the solid gold version could cost at least $5,000. apple may sell 14 million watches in the first year but at this point it is all a giant guessing game. general motors has averted a fight with an activist investor. harry wilson had asked for an $8 billion share buyback plus a seat on gm's board. instead, gm will buy back $5 billion in shares and wilson will not get a board seat. the automaker will also adopt a strategy of returning future extra cash to shareholders.

and the skyscraper that was once the tallest in the u.s. will have a new owner. a person familiar with the matter says blackstone group has a preliminary deal to buy the willis tower. the price is $1.5 billion. i would be a record for chicago. the building used to be known as sears tower it probably still everyone in the world -- and probably still everyone in the world calls it back. -- calls it that. stephanie: and happy birthday to the bull market. it turns six years old today. the s&p 500 is up more than 200%. analysts expected the bowls to keep running this year. the average call of analysts surveyed by bloomberg is any percent gain. forget -- an 8% gain. we found the guy who disagrees. milton burke on one of my favorites, is the ceo of and the advisors. just last week he went 100% short equities.

milton. matt: you know, the ides of march is not for another week. milton: in reality, the ides of march, the full moon closest to the equinox historically. goes back to 1000 years bc matt: it was last week then? i stand corrected. i always thought it was march 15. milton: the 15th represents the full moon, right in the middle of the month. matt: got it. i have learned one thing. let's continue. you think this bull market -- at least 20%. milton: what hit me last week was the following. i have a chart going back to 1900 and as you know, the dow has been on an uptrend. but i had dow for the cpr and it doesn't show that much growth. the dow has it a trend line six

times. the cpi-adjusted trendline of the doubt, it hit it six times in history. it hated in 1948, the market declined 4 -- hit it in 1940 the market declined 6%. the year 2000, declined 34%. 2007, the market declined 53%. february, the cpi-adjusted dow hit the resistant trendline. the market -- thebesides being overvalued on the sales basis and being overvalued by the fact that dividends are low the historical price has had the uptrend line and every time you hit it since the year 1900. stephanie: fundamentally you have got the numbers. what if the momentum is still on the side of the bowls?

milton: the stock market is based on buyers and sellers at the whole idea of momentum -- the stock market does not follow the laws of physics. it looks like momentum was great. 9029, 2007, 19 72, the market looks great momentum-wise but in retrospect it looks like it fell off a cliff. matt: but milton, imagine as part of what technical analysts look at. if you are looking at it and the fundamental perspective and you say that the six-year bull market has been helped by things like the federal reserve and quantitative easing. can't it continue if we have these fundamental reasons -- milton: it always could continue good every decision made in the market is a decision-making uncertainty. i can't say i'm uncertain about the decision. george lindsey was a great market analyst he created an

indicator call below t -- the low to low to top indicator. if you measure the low for march 2009 to the march 5 high in the euro stocks in the u.k. index, it is 1508 days. the indicator with suggest that the next move in the market is lower. it is a technical type of indicator. we measure the fibonacci time and space ratio from the low to the 2000 high and that peter on february 5 as well. -- pete on february 5 as well. let's face it, zero interest rates since basically the year 2009 and you have the 36 percent decline. you can't argue that the market

cannot go down, and everything we see is consistent with the market top. give you an example -- ipo's are selling consistent with the market top. corporate buyback levels, consistent with the market top. seven distinct typing moves -- seven distinct tightening moves and all you need -- everything is consistent with the top and it should take place within the timeframe. matt: at the same time you have central banks around the world -- savers are getting nothing here or in germany. milton: central banks are human beings. it is people like you and i who are trading -- stephanie: central banks are a lot like matt. milton: they are buying a

negative interest rates and not only all the sabres losing money in the united states, they are setting himself up to lose money. these guys are just wacky. it makes note sense at all. stephanie: you think the markets are about to turn by how much? milton: typical bear market is 20%. 11 out of 12 days into february 25. everywhere for the nasdaq be at 11 out of 12 days. sometimes the gaps suggest the markets go much higher. this 11-12 day rally takes place with what i call panic buying. it showed a total lack of fear and panic buying in this suggests that the february 26 perod -- stephanie: your clients -- money managers, hedge funds -- what should they be doing today? milton: my clients are the

titans of wall street. what they should be doing is prepare for the next bear market but more importantly for your viewers, the typical real tell client -- retail client should be out of bonds and into cash and go to the beach and go on vacation and with the bottom of the next bear market maybe a year or two years from now. should the market rally 5% between now and then, so what? stephanie: titans of wall street checkdown business -- milton: you're right, that is true as well. matt: you think they should be big in cash? milton: you will buy the stocks cheaper later on. it is an opportunity cost. no interest on it but you will be able to buy much cheaper -- stephanie: when? milton: i can't tell you exactly when. it could be as early as april. stephanie: april as in a month from now? milton: i really don't know.

the next direction is down and you want to be position for that. stephanie: all i know is that i love it when you visit with us. matt: "market makers" is going to take a quick break and try to absorb everything. we will be back. ♪

stephanie: uh oh, matt, we've got some breaking news. matt: greece's cash may last up to three weeks. it is not long, no matter how you look at it, is it? three weeks. i would feel comfortable with a three-week cash pad. stephanie: what a week ago we were feeling great because they had four months. at the end of the day they have

fundamental problems there. greek 10-year bond yields are at intraday highs. matt: people are selling off. we will take a quick break. what does this mean? ♪

>> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. stephanie: welcome back to "market makers." i am stephanie ruhle, and for the 8 millionth time, i'm going to say, if this show doesn't get a commercial cam, it will be a tragedy. matt: someone can walk around and post the most interesting moments online. stephanie: as important as the greek situation is, we had a killer conversation here. matt: top business stories of the morning -- when it comes to mcdonald's, customers aren't loving it. same-store sales in the u.s.

fell 4% in the last month, worse than expected. it underscores the challenges facing the mcdonald's new ceo steve easterbrook, who took over a week ago. mcdonald's says that the current performance reflects a needed to evolve with today's consumers. general motors will spend billions of dollars in a share buyback after being pressured by an activist investor investor. the company says it will provide free cash flow back to investors. investor harry wilson had been pushing for a billion dollars in share buybacks and a seat on the gm board. he dropped his threat -- i mean, request. simon property group has offered to buy another mall operator. the deal is valued at more than $22 billion. macerich has a high concentration of malls on the west coast. so far the company is refused to

negotiate with simon property. and the european central bank has kicked off a plan aimed at staving off deflation. two people with knowledge of the transaction says that the central bank began buying german and italian debt. the ecb will be by $1.2 trillion of bonds over the next year and a half on a continent that has almost half of its debt out negative. no not half. let's say a quarter. it is been a year since the disappearance of malaysian flight 370 in the search is still ongoing for the boeing 777 that disappeared on a flight from kuala lumpur to beijing. now the battery on the underwater locator beacon has expired, 15 months after the disappearance. it could hurt efforts to find a plane in the first weeks after it went missing. australia is leading the search and the prime minister sounded optimistic about the chances for

success. pm abbott: as long as there are reasonable leads, the search will go on. if it is unsuccessful, another 60,000 square kilometers that we intend to search. as i said, we are reasonably confident of finding the plane. matt: the search is focusing on the most remote parts of the indian ocean. happy birthday to the bull market. it turns secures old today. wow, those years, they just -- six years old today. wow, those years, they just fly by. it is more than doubled -- no, it is triple -- wait, one, two -- it is triple since the bear market low. general growth properties, regeneron pharmaceuticals, under armour, netflix, united rentals could not a great six years for everybody. the worst performers are transocean avon diamond

offshore drilling, first solar and the retail investors who completely missed out. stephanie: did you have hair sixers ago? -- six years ago? matt: i did. i was starting to lose it but it was still an exciting mop of blondish -- stephanie: we got to move on. the private equity world is moving fast and no one knows that more than the partner overseeing pe in the americas. some say that he could take over as ceo. bloomberg news editor-at-large jason kelly sat down with navab for an exclusive interview. besides the fact that over the last two decades he got a whole lot richer what has he changed about the private equity business? jason: this is a radically different business from what alex joined in 1993. kkr had a handful of partners and they only did private equity . probably the biggest change for

the firm, other than being publicly traded and much more global and being much larger, is that they are in different businesses the private equity. we talked a little bit about what the businesses are, specifically where they are stepping in where wall street banks are no longer playing. alex: what we've been able to develop and take a base of what we have in capital markets, in addition to a large balance sheet that we have at kkr that allows us to be able to invest and the land to companies. take the expertise and take the capital and really go to a company and say, look, maybe the banks can't get you financing because they are under regulatory pressure, or it is a segment they are not focused on anymore, but we are prepared to lend to you, we are prepared to give you capital. stephanie: does that mean it is game over for the banks?

if they took this business away from the banks, is it only a matter of time before regulators say "if the banks can do it i'm not quite to let you guys do it, either." jason: it is an interesting we've that they will have to play. they have been careful to not into many ways threaten the banks -- stephanie: of course not. they are the mouse running away with the cheese. jason: exactly. investors for a long time of left private equity alone could they don't post systemic risk. as long as they are playing on the margins here -- matt: private equity guys don't want to get into businesses forever, right? they are looking at three to five, maybe 527 -- stephanie: but that is only in private equity investments. now that they are setting up accent management -- asset management -- jason: these businesses are interesting because they provide a more stable fee stream, which is important to public investors as well. kkr, blackstone, apollo are all

publicly traded. they need to satisfy their own public investors. one of the other interesting things we talk about -- we heard about harry wilson -- stephanie: ah. activism? jason: activism. activism is a fascinating thing to think about when you talk about private equity, alex said on this surprised me a little bit, they love activism right now because it really tees companies up for them to get involved. alex: i think it is a catalyst for more activity for private equity players. what i mean by that is if an activist gets involved with the company and a company needs to come up with a solution, is to sell an asset or raise capital that is where private equity can come in and partner and provide them that solution. stephanie: i would think just the opposite. bill ackman or harry wilson steps in and gets the company to

correct itself, it is not good for private equity. politico the wants to buy you -- private equity wants to buy your cheap. stephanie:jason: let's go back to the history of private equity. some of the best deals have been carveouts. stephanie: ah. jason: they put pressure on the board and the board freaks out a little bit and they say we have got to do something to make this guy happy. maybe we will buy something. matt: the big takeaways that this business is evolving. that is not to use the getting on board for an activist investor what they would have done for private equity. jason: well it is an interesting mix of the old and the new. the new is the capital market business. the old is back to the future of working with boards and taking things they don't want anymore. stephanie: these guys take home in comp hundreds of millions of dollars and nobody blinks. jamie dimon buys a new couch and "the new york post" writes about

it. they have a sweet deal, those guys. jason kelly's exclusive interview could matt: the five secrets to help mary barra get to the top at general motors. ♪

>> live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. stephanie: welcome back to "market makers." i am stephanie ruhle, with matt miller. new figures underscore just how tough it may be to turn around mcdonald's. not if you ask my sons. same-store sales in the united states fell 4% in the last month. worldwide sales were also done. it comes days after ceo steve

easterbrook took over the company. he will try to win over customers who have left for fast casual chains such as an arab red -- panera bread and chipotle. greece is running out of cash. inmate last just three more -- it may last as three more weeks. the greeks may be able to make up near-term shortfalls before it raises money. creditors have told the country it has to do better with the proposed economic reforms if it wants to keep getting financial aid. it will be the most ever paid for a building in chicago. a person familiar with the matter says blackstone group as a preliminary agreement to buy the willis tower. the price is a cool $1.5 billion. willis tower is 1450 feet tall and was once the tallest skyscraper in the united states. of course, most people know it as the sears tower. matt: whenmatt: an 18-year-old

mary barra stepped on the factory floor in 1980, she was greeted with cap calls and wolf whistles, as you might imagine. now she is running the entire company. how did she go from there to hear? bloomberg reporter laura colby chronicled her journey in a new book "road to power -- how mary barra shattered the glass ceiling." you can preorder it already on amazon. a subject close to my heart because i follow these companies so closely. how did you get the idea to write this book? what drove you there? laura: it was such an unusual promotion for mary barra to become the ceo of the largest automaker in the united states. i was wondering, how did she do it? stephanie: why? she was there for 35 years. laura: but no woman had been the ceo of an automaker and it is a

male-dominated industry. that is what i set out to find. stephanie: and did you? laura: i think i did. she is a very talented and smart woman and works very hard. she was most likely to succeed in her high school class and all through career she was excelling and excelling. but there are a lot of smart people who work very hard and they don't get to be ceo. there has to be another thing that helps her along. matt: what was that thing? she was in the right place at the right time. she got a great education before and then with a general motors. but what is the extra thing that puts her in a position to become the ceo of the entire company? laura: well being in the right place at the right time has something to do with it. she started her career at a time when a whole bunch of laws had been changed that allowed women -- that may companies sit up and take notice. in 1982 congress passed the law rights amendment. it still had to be ratified by

the states, but during that time, any company that wanted to do business with the government had to open your eyes and say yes, we need to have more women at the top of our corporations. stephanie: but you are talking 1985, 30 years ago, and almost nothing is happened since. laura: but they were looking not at the top ranks because there weren't any women there. they were looking at the people coming in and saying where are the smart women, can we find them, can we brought them-- promote them? stephanie: how long ago were they grooming her for this position? laura: she was being groomed from her very first job. she was high potential. we need to get those people to the top. matt: there were other women i'm sure, on the same track. she had some advantage. it is hard to argue she hasn't handled the situation she is in incredibly well. laura: yeah, and you can see

with the thing you were talking about earlier today where general motors had a private equity investor who wanted to get them to sell -- buy back shares. she managed to handle that with a fair amount of aplomb and make everybody happy and make him go away. it is something they seemed to be on the path to do anyway. she managed to do it without counting on the table or creating another crisis. matt: she seems to me -- she pulls in the ranks very tight around her. i know they have a lot to do and they are very busy, but she seems to -- stephanie: you just asking why she hasn't called you back? [laughter] "holding tight, not accessible --" matt: you wrote a book about her. she is not an incredible accessible ceo. laura: i don't know how many ceo's you could do with that.

stephanie: this dog hangs out with automakers. he does. laura: she is very controlled. she doesn't open her mouth and say the wrong thing. she is very careful -- stephanie: that kind of behavior -- matt: a lot of ceo's i deal with, and i've been reporting on these copies for 15 years -- you get into a relationship and you e-mail them and you go out and have lunch and coffee. hasn't happened yet for me and mary. laura: as a ceo she has been at the center of the storm. matt: she has been busy. she has had her work cut out for her but i'm really excited to read this book. stephanie: revelations. matt: they can order it on amazon and thanks for coming on. stephanie: get it on preorder right now. when we are return, the oprah business. matt: the o list.

♪

stephanie: welcome back to "market makers." i am stephanie ruhle. what started as a passion project for a harvard business school grad has turned into a swelling business. she is the founder and ceo of a water bottle company. she is on a mission to rid the world of plastic bottles and she has made headway selling her stainless steel bottles. welcome to "market makers." guest: thanks for having me here. stephanie: if my mother were here she would say "i can't believe we are buying water." now we are buying water bottles that cost $35. how has this happened? theguest: the reason i started this company is i hate those plastic disposable water

bottles. i thought there was a place to create a bottle that was fashionable and functional -- matt: here at bloomberg we stopped passing out water in plastic bottles, i don't know six or seven years ago. as a result i'm always looking for a new way to drink more water, because obviously, it is a very healthy thing to do. a little paper cup is never enough. this is a market they definitely a lot of people see potential. sarah: it is a big market. stephanie: how did you build it? sarah: started small. a couple of bottles in my apartment. next thing you know we are in thousands of stores around the world. stephanie: what was that pivotal moment? how do you go from an apartment to oprah? sarah: because we started small it allowed us to grow big. because we only had so much inventory in the beginning, we got to be selective about what types of retailers we worked with. stephanie: how did they notice you? sarah: i walked in the door and

introduce myself and said "try out this product." it's beautiful. it doesn't look like another bottle. because we are in those selected stores first, the very first customers that found us felt that they discovered us. stephanie: what kinds of stores were you in? sarah: the guggenheim store in new york moma store in san francisco. also great stores in brooklyn or chagrin falls, ohio. little stores that tell our story. stephanie: how did oprah find you? sarah: i walked to the post office and wrote oprah winfrey, chicago, illinois and her family fell in love with it on vacation. stephanie: that is like writing a letter to santa. matt: do you focus on this one product or you do other stuff as well? first you tried a few different products before you did this. if this it, or are you making tumblers and bigger canteens, or do you just focus on one product? sarah: right now we make this

product in three sizes and 90 different colors and patterns. we discontinue so we can bring in newness but in the future we should have some new products as well. stephanie: you produce in china. do you have barriers around that? sarah: we produce in china. it is far away but we have come up with new technologies that no other watercolors -- water bottles have. stephanie: you don't have a science and technology background. sarah: we have a great production team and a staff that works very hard. matt: have you go from doing the first bottles in your apartment to doing that -- sarah: where we are -- matt: no, having a production staff. sarah: it was necessity when the orders started to grow. last year we started at six employees and ended at 30. matt: you say it is a big market. i don't know how big the water bottle market is. what is the engine -- and game here.

is this a career for the rest of your life or do you sell us to apple and they make the apple water bottle? sarah: well i don't really know with the plans. we are growing rapidly. it looks like we will be growing even faster this year. there is still a lot to be done in the water bottle for what comes next happens. stephanie: has apple seeing you yet? it looks like an apple product. sarah: if they are watching the program, we make customized bottles for companies. stephanie: i'm sure they are waiting. tim cook is going to watch obviously. very, very cool. congratulations. ceo and founder of s'well. matt: definitely going to grab one. i will pay for it. i'm not going to get everyone. stephanie: "market makers" will be back in a moment. we're talking about apple and their first new gadget since the ipad. ♪

♪ >> live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. stephanie: now tim cook will have to persuade you to buy it. erik: making a politician's words come back to hot him, that if the job of researchers. we went into one firm's war room. stephanie: not just another pretty face. i'm talked to about entrepreneurship, investing, and she is way more interested in

acting welcome back. you are joining us in here in new york city. i have stephanie ruhle. >> i am matt miller, in for eric's tasker death -- erik schatzker. you will want the world wide web on your wrists. tim cook will unveil the latest device, the apple watch. we do not know a lot about it but how much is there to know? it will be a watch that connects to your cell phone. it will let you track health and fitness. the price will probably go way up. a solid gold version could cost $5,000. $4 million could be sold in the first year. new figures underscore just how tough it may be to turn around mcdonald's.

same-store sales fell 4% last month, worse than expected. worldwide sales came down as welker the numbers came down eight days after the ceo took over. he will try to win back customers who left mcdonald's or fast casual chains such as panera and aaa. -- chipotle. the euro area officials speaking in brussels to european finance ministers warned greece they need to pick up the pace of negotiations to unlock more bailout funds. greece's european creditors have told the company they have to do better with economic reforms if it's steep -- if it wants to keep getting financial aid. tesla will be cutting jobs to its units in china. the carmaker is not say how many but one chinese newspaper said 30% of tesla's 600 jobs will go. earlier, elon musk said sales in china are slow because consumers are concerned about finding charging stations if and when

they buy the car. and, do you want a piece of a small history? you will have to go through reggie jackson. letters that spell yankees stadium at the original ballpark. the auction house estimates it will go for $600,000. reggie owns the letters. the yankees slugger bought them after the final gap the old yankee stadium in 2008 i will bet they go for at least $1 million. that is huge. question him change. doesn't everybody have room for those? >> people who have room to put those up have millions of dollars. >> and those are some of the people who might buy the apple watch. tim cook is rolling it out two hours from now. brad stone is back from barcelona and is at the event in california. jeff is joining us from silicon valley. he is a managing partner and his biggest investment is fit bit.

brad, what is the biggest question you have got this morning besides, can you get a free one? >> i guess it is how apple will merchandise a product with so many variations. this is unique and apple's history. you have got three different kinds of apple watch. you have got the stainless steel apple watch. the addition encased in aluminum, and the gold edition matt and i will be running out to buy. you have got two sizes, 42 miller -- 42 millimeters and 38 millimeters. all these different bands. of course, what will the prices be? it starts at $349. how high will it go? they will have to come up with a new way of selling it. stephanie: what do you think, jeff? >> it is apple so it will be important, but as an apple fan

boy, i will not rush to go in and buy because i want to understand what will make me replace my watches. the last thing i want is to have yet another connected device. i'm very happy with my smartphone and am not convinced yet as to why should be buying apple watches. the window on my phone, the fact that currently they will have applications that tell me someone is trying to text you, as opposed to picking up my phone. i think it will be awkward. i want to see how people will use it before i make my decision. classes also a high-end product. what about the fact that guys love the current watches they wear. will they suddenly put away the rolexes? >> the notion of connected jewelry, it is a market just starting. we have seen connected race for women. we have smart watches. up until now, the market has

been a million to millions of minutes. to apple, this is nothing for obviously, if they were making a toaster, they would sell million units. trying to figure out what is success for apple. i would agree with you come if you have a high-end watch, what would use for the apple watch and maybe rotate them? i'm not against the notion, but i am confused as to how apple will market this when there are so many valuations and so many reasons to buy and where the watch. matt: i am guessing they will not aim at the highest end clients. they are looking at somebody who would maybe in the market for a swatch. >> that is right. to make a dent in apple revenues, this has to be a huge market. this is a company that brought

in revenue, 200 million in the last quarter here they need a market here. i think this is the beginning. it is a placeholder. as apple watch develops and house monitor capabilities, it will help appeal to a wider audience. we will have to see what it does, what the apps do, and whether it has a widespread appeal. as many of us last week were saying, $10,000 for a gold apple watch? who will pay for that. i will to you who will buy it. china. do you agree. >> this'll be an ultimate representation of consumption. they want their friends to know they are the kinds of people who will buy the gold edition watch. i do not think apple sells many of them and it may partly be sold as chinese markets. you have to ask the question, why would you buy and it is a device when it would be obsolete

in a year or two. >> i figure they have to aim at health components. job own. you can imagine they would aim at sun tell and polar. >> and fifth it. they will not be aiming at rolex or cartier. there is no way they could get that market. >> then the issue is really the price point. the basic fit did -- fit bit is $90 and it does not need to be charged every day. there is a really different case here again where somebody wants to manage their sleep and their activity they will where there are device and will have a watch . i'm not buying the notion that the watch will be a strong conveyor. >> is it possible apple will not

hit a home run with the product? i cannot the why it would be the next thing you have to have rather than a novelty. >> this is the ipod version one. it will not be perfect. it will be beautiful for people who have androids and like it. i am tempted to not buy version one but wait for version two here at it will be smaller, will have a longer battery. how long is the battery life? will it last for the entire day? apple introduced a watch mode where the battery is too low, it will just display the time. it will tell you so you know you have that are reissues. i saw the fit folks worried at all or apple getting in the game in a big way just making the connection world or consumers interested in it all the more important? >> i would say the latter.

now apple getting play in the market, -- matt: do you feel there is that much hype around it? when the iphone came out it was a huge deal it i do not get that consumers are as excited about it. >> it may be a harder sell. it is a very different kind of product category for apple and consumers. we have seen other kinds of wearable devices. google glass really felt. but that is it. i think everyone agrees these devices are getting more personal care they're leaving our offices and coming onto our bodies. a connected watch is an inevitability.

i see this as the beginning of a big mountain apple and all makers have to climb. it may be a slower burn than other apple products. >> it clearly was not a success. >> that is i.t. closed that the vision and lay people off. a computer and technology company in apple is. it is the first major product category launch under tim cook. he is really associated with fitness and well-being. it is a big bet for him. he has a lot of credibility on the line here. pre-launching in september doing another event now in march, it shows apple has been thoughtful about how to into -- how to introduce and get people starting to think about it. i so wonder if we start seeing people where more than one watch her in the 80's, people would wear more than one watch.

stephanie: i was just a style think or what do you think about the fact fueled bands did not work for nike? is that a threat to the connected world? >> no i think nike just did not have a product. technically speaking, customers had fuel point, and you did not know what that meant. you're walking and you just missed the mark on the customer experience there is definitely a sort of market there. i think that apple jumping in the fray will get people interested in was going on and get people figure out if they will buy one watch or figure out if sleep traverses the better thing for them. stephanie: from a clumsiness

standpoint, do you see people willing to charge their watch every night? classes already attained to think about charging your cell phone every day, sometimes multiple times a day. the watch is something you remove or you where in the case of a sleep tracker. but thinking about charging it will be awkward and if you do not charge it, you will not have battery for the next day. let's i do not even take my watch off when i go to bed. i just cannot imagine -- >> my fit bit, i sleep. -- i take it off when i sleep. my nightstand is a bit of a fitness tracker graveyard. but i wear one and i like it. matt: thanks very much to brad's bone -- brad stone. we will take a quick break here. stephanie: when we return, we

will talk about something different in fitness. how about big macs? they're not selling as they used to pyramid on says they know they need to evolve with customers taste. will they move beyond burgers and fries? that is their core business. matt: plus they make sure if a politician sesame he shouldn't, everybody will find out. forget about the issues that really matter. very important. stay with us. stephanie: thank god we do not have those. ♪

stephanie: welcome back. i'm stephanie ruhle with my partner for the day, matt miller. time for us to bring you up-to-date for the top stories of the morning. the largest mall mode -- mall owner in the united states wants to get bigger. they offered to buy another mall operator. the deal is valued it is --

evaluated at $24 billion. a high concentration of malls on the west coast. the company has refused to negotiate the property. shares are up more than 5% this morning alone. president obama is unveiling a program aimed at boosting high-tech training and wages. the program will provide job training and placement in development and cyber security. they will come up with $100 million in grants. in the nfl, about to become one of the highest-paid players and pro football espn says the former detroit lions defensive tackle is about to sign a six-year deal about 104 million dollars, $60 million worth of that would began the area meanwhile, the former philadelphia eagle superstar running back has signed a new

deal with his new team. buffalo has agreed to pay him a cool $40 million. >> with that, he could buy a lot of mcdonald's but he is not right now. the new mcdonald ceo has a lot of work ahead of him. the fast food chain sales keep getting worse. much worse than expected. global sales came short as well. the company realized it must change along with people. we are with what changes can be made. mcsalads have not worked focusing on coffee did not work. quite a long list of failed products. matt: why are they doing so poorly? i can list a number of reasons i do not go there, but why not anyone else?

>> they lost relevance with a lot of consumers today. though they seem to recognize this they want to make it better, some of their choices limited time offers, it is just not a destination people are going to. matt: i do not know about all mcdonald's stores, but the one i have gone to in a fairly wealthy city is dirty and disgusting. >> in the corporate level, mcdonald's makes decisions but these are individually owned franchises. is that the problem? >> that is part of the challenge. the franchise at the end of the day needs to make money. in order to improve the inside of the stores they need to feel they will get enough return on investment. classes the issue they were not making enough money to they were not renovating? >> renovations can cost over $1 million depending on the location. you want to be sure you're

getting the money back. the same time, mcdonald's has been in a competitive environment. their peers are running strong promotions against them, which undercuts individual -- stephanie: let's look at burger king. take an era out. burger king has improved operations. while only waking up now after they took don thompson out? >> burger king started sooner which helps. burger king has brought a lot of people back into stores by using heavy discounts and promotions. it can get a coupon for three dollars for a salmon -- a sandwich, a drink, and fries at burger king. that puts a lot of pressure. stephanie: how does burger king sell a sandwich, energetic for three dollars? >> you either have to have a lot of people coming in to make it

profitable, or that is why it is limited. -- limited time. a special promotion to get people coming in the door and that hopefully get people to come back and buy things on the normal menu. >> i have the impression burger king and wendy's will have fresher ingredients, more substantial beef patties. maybe because i grew up in columbus, ohio, where wendy's his face. am i wrong? >> i think it is perception. i do not know the food is any fresher but they have been better about advertising that makes you feel like it is fresher. matt: you do not get the impression wendy's is higher-quality food than mcdonald's? >> it is possible. matt: maybe it is my hometown bias. stephanie: will they begin in the money to do such a big rebound? >> one would hope. the company realizes it has to change what is happy to get

sales momentum going forward. it is like turning a battleship. a huge operation. getting it to go from negative same-store sales to positive, it is challenging. matt: billions and brilliance have been served. thank you so much for joining us. jennifer joining us on mcdonald's. stephanie: "market makers" will be back in a moment. stay with us. ♪

matt: opposition research. exclusive access listening to everything every republican ever

says and trying to use it against them. like if someone notices research, he does it every night. and life after entourage. after adrian talked to us, the search for the best social entrepreneur. ♪

>> live, this is market makers with erik schatzker and stephanie ruhle. stephanie: welcome back and i am stephanie ruhle. matt: i am matt miller in for erik schatzker. so markets overseas are closing for the day at 11:30. that happens every day. actually, no, it does not. there is a time change here and there is not one there. stephanie: people in london are basically going home so we should stop -- we should talk to scarlet.

>> daylight saving through me for a loop as well. let's talk about what is going on in europe. european stocks not benefiting down 3/10 of 1%, treating -- retreating from a seven-year high. the aac index losing more than 4%. it is the biggest loser in european markets. european finance ministers are meeting today and they say greek officials need to pick up the pace on negotiations. it performs at the greek government sent over at the european, did not actually pass muster. there was a question whether they would get at the end of the month. it is firmer on the day haunting a seven-day slide. over the last 12 months, you really do not need to know over 22% over the past year.

contrast with the strength in germany, the index up 3/10 of 1%. in his art he gained 18% in 2018 and set more than 20 record highs over the past two months and looks to be the case again today. just out of the contrast here, the yield is coming down to 21 races points. the ecb beginning to buy 21 sovereign debt. the greek 10 year at 10% even. matt: can i point a couple things out? daylight savings time obviously happened here yesterday. we are now on our closer to them than we normally would be. >> let's look at the dow for a minute. here we are a six year anniversary. i want to look briefly at some of the biggest winners out there, the best forming stocks since the bull market has begun.

number one is american express. in the last two month's, all the news we have heard their 16 year relationship with costco merchant rules last month, a lot of negative news recently. march, 2000 nine to march, 2015 get your head around this, up six 9%. 654%. >> he yes, yes, yes. >> a much better return to 69%. by the way, is that quintuple's? no. stephanie: disney has had a great run with bob iger at the helm. you know he has been rewarded for it. he got paid something like $46 million last year. they renewed him through 2018 and have only gone into one direction. matt: sergio got paid more last

year. $72 million last year. stephanie: the worst still did ok. matt: that is true. better than 69%? no. not that great. a little buyout next time today. you see the gain. it is still a game but the worst gain of all the dow members. still a gain. click at&t getting kicked out of the index later this month when apple hops into her just yesterday, the t-mobile ceo was sort of tweeting, mocking at&t saying it is time for a real company to join. he said, do you need to be a hater, and he said, i do not need to be a hater on them. matt: verizon has bad customer service as well. and pricing models. we did not include walmart there. stephanie: that is a good point.

comparatively speaking -- matt: one of the worst gainers. the third worst over the last six years. stephanie: when we come back we are talking just bush. if he says something he should not, these guys will know about it and tweet about it. we will show you what it looks like to be behind closed doors at an opposition firm. ♪

>> election day is over a year and a half away. both parties are dealing with a massive research team, watching every word. american bridges a democratic group doing just that. phil mattingly got exclusive access into their war room as they attract and attacked some

-- some republican hopefuls. >> in the world of u.s. politics, a few places campaigns do not want you to see. private donor meetings. in this place, the wawrinka. they held for any and all opposition research. crested we ever do that? >> yes, bring up that. >> this super pac funded to the tune of $18 million by top donors. >> we are all over the country in the keys is an all in the early states for the presidency. virtually all of the home states of the major presidential containers. >> a mix of one man camera crews, researchers, digital communications operatives. the goal is to put republicans on defense. >> thursday on the main stage, we have got chris christie, ted cruz, and scott walker and then late in the evening, bobby

jindal. >> exclusive access into the operations as they prepare and deploy for conservative political action conference. >> research for each candidate speech. >> more than the double desk more then a dozen candidates, a target rich environment. >> i would not quite go as far to say it is our super bowl, but is the first round. classic central piece of modern political campaigns, opposition research am a team that track candidates into their lives. >> especially in this world where people get hardened very fast, it is vitally important. >> everything goes here, the vault, home to 10,000 footage. >> the largest education cuts in

wisconsin history. >> with one perceived slipup -- >> i can do the same across the world. >> did you just like in protesters to isis? >> they are off to the races tweets video clips, rallying supporters, and immediate results. with more than 600 days before win -- know the next inhabitant of this place, it is just the beginning. stephanie: phil mattingly joins us now from washington. that entire business model looks like tmz for politics. phil: it is in a way. in some level, they compete with tmz. who was the first person to get a camera on hillary clinton when she was dealing with all these e-mail issues? it was tmz. the goal is to be there at all times. they are sitting outside with cameras at every private event

and are inside every public event, and they want to try to get them to slipup. they want to be there just in case this happens. let's do these firms exist before we had all the social media platforms? phil: the rise of this has been since 2010. democrats dug in and set up a permanent peace of the infrastructure during the 2012 election cycle and they scored big, took out a number of top republican senate candidates by getting them watching as they said bad things. in 2012 22 thousand 14 republicans basically knowledged that they wanted to mimic that. they got a ton of money and basically matched them and what we're seeing now is a one-upsmanship. everyone is trying to make a bitter -- bigger and better streamlined for candidates. this is just the beginning. it will only become bigger as the technology grows. matt: it leaves you with a bad

taste in your mouth to watch but i am sure the republicans are just as good if not better at it. stephanie: or just as bad if not worse. matt: how are they dealing with the clinton e-mail extravaganza? phil: licking their chops. they have been on the top republican research group, america rising. i did some of it last year. they have been prepping for hillary clinton's candidacy for more than 10 years. they have been attacking her on a weekly basis, even through the 2014 campaign cycle. what they are doing is season on this -- seizing on this and going big. they're trying to get the e-mails, chime to feed reporters stories. this and hillary clinton on the whole is just a gold mine for them. they will track every step of the way. >> they should be called polarizing america, or america divided. i would encourage them to choose

these better names. >> there you go. when we return, i sat down to talk business with an actor. my job is brutal. ♪

matt: starting off with mcdonald's, the company admits consumer preferences have changed but can the company exchange same sort -- same-store sales in the u.s. steve easterbrook just started last week or one problem is how to woo back customers passing up egg max to eat at chains like panera and aaa. -- and chipotle. maybe deny and just ignore it. the employee of the state's our mental protection policy ordered not to use the terms climate

change or global warming and official communications according to the center for investigative reporting. the policy took effect after republican rick scott a global warming executive, became governor. happy birthday to the bull market. more than tripled after hitting a bear market march 9 two thousand nine. the best performers, general growth properties, pharmaceuticals, under armour, netflix, united rentals, but not a great six years for everybody involved. the worst performers are transocean avon, offshore drilling for solar and noble. >> actor asian good near is not just the pretty face you watched for years on hbo's "on should rise -- "entourage." he has business ventures of his own. i got the chance to sit down with adrian.

adrian: i'm excited to be chosen for one of the judges for the global search for the most exciting social entrepreneurs. 16 countries will narrow down and culminate in july. we get to judge the best of five and they all get to take a piece of $1 million. stephanie: it is sort of like the shark tank but for people who want to do good as well as make money? adrian: absolutely. that is the way the road is moving or no longer can we just do business as usual. we have to do business that has people and the planet in mind. this is exciting, exactly in line with what i have been working on. it is perfect. stephanie: was it -- what is it they are there to create? adrian: the next best in stephanie:businesses not only sustainable and have legs, longevity on a business level, but are also doing something good deion just the making of the money. stephanie: this is not just a

charity project. will set -- we look at tons of people. this is a real business venture. they are trying to make some dough here. adrian: charity is important but it is really business that has the ability to scale and grow. the aggregate sum of the good it can do is greater than just begging for change. they can actually drive real numbers and within their dna the or purpose of the business is to do good. it will just grow from there. stephanie: how did this become your passion? people who do not know you identify you as a character you play who amp to ash is gluttony and excess. that adrian: is different than you as a person. -- that is different than you as a person. adrian: i think we can move the bar toward conscious consumption and in -- indulge just as much but with better stuff. stephanie: you are raising money

right now. adrian: we have a kickstart her campaign to fund the expedition and give scientists an opportunity to go out and study the effects of man-made pollution on marine wildlife here we are doing well but are not there yet. we need 100,000 more to get opportunity. you can go to our website if you want to support the request if someone were to say to you, what is your day job, are you an actor or a conservationist? adrian: the activist part seems pushy. i think we should inspire each other. inspirational list? >> whether we're talking about

ashton cooking her -- ashton kutcher that -- or you -- adrian: we need to stop thinking in quarters of years and start thinking about legacy, not only for ourselves but the businesses we create and are a part of. more conscious and more aware and i think that is a positive thing. stephanie: there matt: stephanie: is a surprise. i feel enlightened. i bet you are surprised and impressed. not just a pretty face. adrian grenier. you can go to his website.

entourage is coming out with a movie.. tomorrow, we will speak with the head of global macro acts said -- asset allocations. stick around and we have got more. ♪

>> it is 56 minutes past the

hour. bloomberg television is on the markets. i am scarlet fu. we are at midday right now. the 56th anniversary of the start of the u.s. market. share prices are recovering from declines posted friday. treasuries as well as european bonds also trading. joining me is jim sugar. he is the derivatives strategist . we asked -- we saw what some are calling a paradigm shift friday with people pricing in. you see a paradigm shift in austin? >> what friday was is a reminder that we are in an environment of cross asset correlation. u.s. treasury up to and a quarter. the dollar index risen to its high's level since 2003. 36 etf's that represent global equity and looks across asset classes. every single one of them was down on friday.

an environment where something like u.s. monetary policy, short movements in the dollar will not be escaped by any asset classes or equity globally going forward. >> let's talk about volatility in equities. flat after moving up on friday. we have got the fomc next week. how will we trade between now and then? >> we are a time of relatively suppressed equity. since the beginning of the year, we've talked about the risk that the floor has been as high as it has been in the last couple of years. it is easy to see why again, looking back on friday. the 10 to 12 range beginning in 2013 through much of 2014, that may be gone and the floor might be closer to 14. the risk is, if that is true, equities can go higher. the pullbacks are likely to be deeper and longer lasting than what we have seen.

quite let's switch to european stocks. across the world, over the past couple of weeks, in 2015, it has been up 18% in zero terms. there is not a lot of buying protections. quite you are actually seeing a significant ramp-up of interest. we showed long calls and ew g to express the view that quantitive easing in europe would likely help equities over there. the critical point we said was in u.s. dollar terms. if you take the euro stocks index, it is up 17 to date, but in u.s. dollar terms it is up 5%. a lot of movement into etf products that hedge out to currencies, so if the euro dollar moves you will continue

to see the drag of a weaker euro on the european equity positions. >> so currency hedging is a big thing when you talk about staff there it let's get your trade on bank of america. the stress tests comes out on wednesday for what is your strategy before that? >> all 31 banks past pair wednesday, we'll get the second part of that. but he does names we wanted in this city, bank of america specifically looks very cheap. very simple, long directional exposure. >> jim thank you very much. ♪

>> to "money clip." happy birthday to the bull market. the prices rallied and stocks started going better six years ago today. tens of thousands of people in the streets. and in tech, he says he sees a bubble in private startups. where