motive his german wings, the chancellor saying this is probably suicide? >> i am not a legal person to it i am not a lawyer. i do not want to in one way as the ceo of a big company. if one person takes 149 persons with him it is another word and not suicide. you are reorganizing your group. now you have a traumatizing situation and you have to regain the confidence.

let this lead to actually postponing your plans and the confidence has returned. i think this is certainly not the right day to discuss a future tragedy. what has to be done is to support the family members as much as possible. and all of us, together. i think i can even include the general public and when the time has come we will think about strategic considerations. it might exert a confidence on your position. i've no reason to speculate this morning. an airplane this morning was

planned to go to tel aviv. and when an airplane is called back, i think there is a good reason and there are good reasons for the captain to take it and not have the fight started. since nobody knows the answer we could call after and ask what this all might have [indiscernible] you know something about the clue -- we provide you the reasons in a minute or two. >> when you heard what might be the region, did you inform the

family members immediately? or how have they had -- have they gotten to know this? >> are being taken care of by us. some others, europe, and we have seen to it that the family members have not actually gotten the information via the media. [indiscernible] irrespective or independent of the cockpit, the flight attendant the possibility and emergency and distress signal. you have a lot of speculation for instance, the aircraft, maybe not so good training.

the pilots lost their conscience, etc. how do you see these speculations? >> the crews also know the code they are this was not used. -- code. this was not used. training in the cockpit. this is not actually permitted by the legislator. an emergency signal has to be triggered in the cockpit. this was only permitted through the license pilots. >> i've never said anything on this point. i said it asked the gives the same kind of training to the german pilots as compared to and

also the maintenance is the same technique. [indiscernible] actually looks after the maintenance. older and younger planes. we have one more question. >> i think you have a picture releasing to the media today of the copilot. is that him in front of the rich? in -- the bridge? >> we want to protect the private sphere of a person.

this is actually something shared by the french authorities there one more question, please. >> he personally informed family members. how have they responded and reacted after having heard this not a matter of suicide or murder? how have they responded? >> the place in barcelona. information by the french authorities. the family members did not get this information by the media.

and of course, people react very differently. the shock, the sadness is different. it is of course terrible. we know the family members from barcelona, excuse me, a different air transport. because different reactions if it is possible murder, i might imagine turkey different. i think it is simply terrible

what happened two days ago. i do not know whether you could increase the sadness. thank you very much for having come. thank you for listening. matt: welcome to "market miller's -- "market makers." it appears the 28-year-old copilot deliberately crashed after locking the pilot out of the cockpit at least once or twice. he is stunned and aghast and does not know why the copilot did it here he said there is no sign of it very slick here. you also have german officials as well as the white house saying it does not look like terrorism. the highlight and the copilot word deemed 100% able to fly.

he is interrupted training for some months. he cannot say why because of an oath of confidentiality. that is where we are right now in this horrible tragedy. >> for more let's bring in an aviation analyst and consultant. kyle, thank you for being with us. you are also listening to the comments from the ceo. what were the biggest standouts to you and the biggest surprise you heard? classic it appears the plane was taken over manually without any kind of autopilot being in shoulder. it looks like it is delivered action from everything they are saying. >> pot death part of that is that one of the pilots cannot get back to their cockpit.

how unusual is it for one pilot to leave the clock it during a fight? >> in the u.s., it is required if a crew member leaves the cockpit the other cu -- crew member has to be in the cockpit such as the flight attendant. they did not have that requirement so there was in fact one person in the cockpit by themselves. i would not happen here in the u.s. >> i do not want to make you speculate here but perhaps it was a budget airlines of it did not necessarily have the crew members were that? >> no, it would be a regulation that would be in place. that was not the case they were not required to have another individual in the with the pilot. there are flight attendants on board with the airplanes and if needed, they wouldn't that be in

the cockpit if regulations were in place. matt: how do you understand the structure, the lock ability of the door? apparently, there is a lever the person inside the cockpit could operate that either opens the door or loc. cit.. apparently, there is also a keypad on the outside. how do you lock someone out or get someone in from the outside? >> there is a three position control. there is unlocked, norm or operation, and unlock. the door would be closed and anybody would be free to enter from the outside into the cut area. if that control was in the normal position, the keypad would be enabled. in other words, a flight attendant or the pilot could actually dial in the code and gain access to the cut it. it appears that was on the lock position in this case, which

would disable the keypad, so there would not be any kind of entry allowed via the remote keypad on the passenger side of the cockpit door. >> what kinds of other solutions might there be to help navigate this in the future, to have the l safe on the outside but also have a l safe from the inside? >> i think the way the system is here in the u.s., it really works vertically. if this is a criminal act it would be a bad apple in the bunch. i do not think any regulation change is necessary here in the u.s. for foreign countries they will reevaluate that and i think it will wind up being like policies here in the u.s. where it is required to have tea does individuals in the cockpit at all times. matt: i wonder how the investigation will go from here. they are still looking for a

second voice recorder, the second contents of the black locks, which was found empty. and they have to evaluate whether or not the copilot was actually conscious? he had to be conscious because he was easily locking the door? >> that is correct. you know, they will analyze that analyzed the recordings and scrutinized his copilot's history, his medical history, his financial condition, is there any reason for him to bring the airline down. they look at bank accounts and bank bounces, talk to his family and friends and coworkers to see if there was any unusual activity in the days prior to this incident. >> the ceo said the copilot was deemed 100% fit to fly and he underwent a thorough exam. what does that mean? >> basically, a first-class

medical exam. it is done every six months checking your heart rate, blood samples, drug test, that sort of thing, just like a normal as an would go for a physical but more in depth. to make sure this person is in the correct state. one thing i want to say is there is not any psychological testing in most medical routine certifications. this might have happened in the very beginning when he was hired. there might be a brief psychological exam, but after that, there is typically a six-month evaluation. >> thank you so much. we really appreciate your insight. really staggering news is continuing to trickle out. >> absolutely horrible.

i want to bring you now to the date of the top stories outside the tragedy. saudi arabia and allies have begun in yemen. positions held by g.i. rebels that have forced them to flee. the rebels are backed by iran and the saudi's want to stop the spread of iranian influence on its southern border. my countries have joined the coalition. all are ruled by sunni muslims. the u.s. is providing logistical and intelligence support. the goal of the attacks was outlined. >> we will do whatever it takes to protect from falling and any dangerous. >> those saudi attacks up 6%. west texas intermediate trading above $60 per barrel at this point. the u.s. health authorities are taking aim at e-cigarettes. the centers for disease control

will roll out a $68 million campaign helping smokers quit. the ads will help former e-cigarette users as well as former traditional smokers. electronic smokers face restrictions. you will be able to add photos and videos to your online chat on facebook. the social network is opening up messenger chat to add new features. also open up to businesses and customers. fourth-quarter earnings that beat estimates there it was winter clothes that were the attraction, including oversized sweaters and boost sales by adding more seasonable products. >> biotech takes a beating. pulling down the nasdaq this week.

matt: we have got one of the top exploration experts, stick with us for that. ♪

mat greatt years for biotech: investors. biotech index up almost 300% and at record highs. that of course has some people yelling double. we have seen a sharp decline last week and the index is drive -- dragging the nasdaq down with it. a big and heavy weight. our next guest says there is no need to worry. a major biotech investor. his biggest holding is biogen.

you can imagine well, of course what you hold are terribly overvalued. >> i think you have to look at biotech and i do not think you can painted with a small brush. appreciated at the very high end of could have it. the fundamentals have really not been better for a long time evaluations are not stretched, particularly when you put it in the context of other stocks in the market. you are talking about companies trading at 20 times earnings or maybe a little higher. at the same time growing those earnings in the high teens or even the 20% rate. matt: at the end of the 1990's, what kind of fees are you looking at then?

>> joe fee communication in the 2000 era, did not have earnings and were simply almost more like concepts. matt: we have a comparison from what we think of as a tech bubble. and now. you see the current era is in white, the biotech. the nasdaq tech bubble they look very much alike. quite how do you figure out if there overvalued or is it is fundamentals? >> it is one of the paradoxes we live with. i talked to investors who are looking at this from the perspective of, we have seen a lot of specialists who have done well in the last few years. there is different types of money and the market.

you talk to people who are positioning to say, hey, we could free up opportunities here. we have got day and change now. question is last year alone, an incredible amount in the sector. do you expect that kind of presence this year to be that continuing driving factor? >> i do believe and the day will continue. there have been two drivers. big pharmacies still need products to continue their own growth. a lot of this has keyed off of low interest rate and relatively healthy evaluations for equity capital. basically as long as big companies need products, and i

still see them needing that, as well as money staying cheap, i think you will continue to see m&a. i think it is hard to think you will see it may be at the pace we have seen it, but i would expect it to continue and hold the floor under the sector. matt: how much of this is actual medical breakthroughs? you have done stories recently on not a cure but a possible alzheimer's issues. hiv is much easier to live with her you can live with it now. cancer, some progress being made there. >> mia saini fascinating stuff in all -- we are seeing fascinating stuff in all of those areas. a biotech double of 1998 -- bubble of 1998 all of this pay off and it never really did during that time but all of a sudden, we have the knowledge of new scientific power that is

ringing a lot to bear right now in cancer, in alzheimer's, understanding human genetics and biology a lot better. there is fascinating stuff going on right now. we see a lot of fda approval. it is a really fascinating time to be in this area. classically were to have a biotech sector, what would you be looking for? >> you look at the early-stage companies to to the extent they are treading at extreme valuations, or companies that do not have products and are just platform type technologies and are truly a technology play rather than someone developing a drug, seeing those with multibillion-dollar market caps that is when you get much more worried. that is the distinction between now and 2000. a lot of the highest flyers in the 1999 era were not developing

product. a lot of the depreciation you have seen in the past three to five years has actually been from real drug approvals. >> don't those company is now still not have drugs? >> there are a few, but i would say less so than i thought back in 1999. matt: the fda has been more proving. >> the fda has a number of new policies to celebrate when they think there is a so-called breakthrough therapy. a great path way in the market. approved in what i expect would be near record time. the fda is trying to take advantage of this and get to people faster than they can.

>> thank you so much. matt: chevron is doing well by doing good third it has been honored for increasing opportunities for women especially in leadership roles. stay with us for that. ♪

>> live from bloomberg headquarters in new york, this is "market makers." matt: i am matt miller. alix: i am alix steel. i am eric and he is stephanie. matt: it is a personal preference. the top business stories of the morning. shocking and tragic revelation from france yesterday. prosecutors on the copilot of the german plane locked out of the -- locked out on purpose 30

appears to have deliberately crashed and the sounds of the plane last minute. they say the pilot tried to break the door down as the plane was in a rapid descent from 38,000 feet. we are learning more now about the copilot. 28-year-old german citizen who wanted them to be a pilot since he was young. flying since he was a teenager. german wings says he joined the airline since september of 2000 13 and had more than 600 hours in the cockpit to no immediate word on what his motivation could possibly have been if the speculation proves to be true. the ceo of german wing's parent was asked if this would cause the airline to change any procedures in the cockpit. >> i do not cede any need to change our procedure. a german who will get together with the various experts in the

authorities, with our german government, to see if procedures can be refined. i think we should not now jump into short notice activities. we should rather make analysis first. matt: the copilot was completely physically fit to fly. americans are drawing more competent in the army. consumer confidence rose last week to match the second highest level since 2007. confidence grew among those making less money and those looking for jobs. the price of oil is now the highest level in two weeks. yemen is near the center of trade. crude now trading -- planning to shift spending from new york and

london because that is where trends are set. it will also cut the amount of time. the company has been losing market share to the industry's leader, nike. we are down to the final 16 teams. tonight's game, kentucky takes on west virginia. the wildcats, you're watching in cleveland, the great state of ohio. wisconsin plays north carolina and xavier plays arizona. alix: it has been pretty fun. it has been a good time. matt: a lot of those guys are wearing adidas sneakers. the creator of that company, his name was it off. slur. his nickname was adi dotzler. adi da.

alix: i believe you and scarlet after the dramatic selloff from the dow, we are still seeing continuing from the downside. scarlet: extending their losses from yesterday really the whole week. they have now fallen every day this week. this marks the third straight day of triple point losses. the dow has closed up or down by at least 100 points. in 13 of the last 15 training sessions. more of the big swings come back to the trade. you guys are talking about biotech. stocks focus once again. in retreat in focus because the disk maker is dropping the most in six years since february of 2009 after cutting its first-quarter revenue forecast. it is pulling down other names like micron. falling after share sale. the stock is continuing to move

higher. around 85 to $90 per share. you can see where it is below that for the moment to rallying yesterday. moving in retreat or the broader market. alix: how do you say adidas? thank you. all right. scarlet fu. matt: "market makers" will take a quick break. stay with us. ♪

alix: chevron pauses us-based initiative engineering opportunities for women is being honored with a catalyst award, a prestigious annual award

honoring innovative strategies that expand opportunities for women and business. here now is melanie, a chevron president of exploration and production. it is so great to have you out here. thank you. describe for us what the lord is? >> he does a prestigious award honoring companies corporations that have programs that show measurable results for women. we are very honored for chevron. alix: coming from the commodity land should -- landscape, it is rare to see it at all, women in charge of researching the companies, i mean, what kinds of strides have you seen internally? melody -- >> 20 years ago we set up our

policy number one, the chevron way. the describes the company's's values and their seven core values, one of those is diversity. over the last 20 years, we have focused processes and programs around diversity that have really resulted in increasing number of women in leadership roles in the company and diversity across the country. it has been strong. matt: it strikes me you have got to start before people graduate. ruth went to google and said, when she went to sanford, there were hardly any other women in her classic. what do you have to do to convince people in the oil industry? melody: we focus very heavily on the stem career. women in diverse coming in. encourage girls to go into

engineering care we work with universities all over the world and we partner globally with universities and also here in the u.s. to develop the curriculum and ensure we have women coming into those programs. once they come into our company it is all about developing their careers, developing their skills, no matter what country we are in. we at -- the u.s., indonesia, australia were ever we work. the program was a real foundation for our efforts for personnel development committees. it is a way we manage talent around the globe. we focus on accountability within the personal development committees to be sure we have the right people and the right job at the right time. they are accountable to monitor the diversity, statistics, and the metrics. our core values have a strong

element of accountability. matt: i was just wondering that. alix: a broader look here, as you are ahead of age or production and a duration, what is the project you are most excited about in the next years? a very high production growth. melody: in my region, asia-pacific expands from australia to china. we have tea does very large projects that are well into development. oregon will start up this year. these are big projects that will provide road a lot -- reliable energy throughout asia for many decades to come. alix: he signed a production sharing contract. i bring that up because part of it is natural gas play. how do you see it disrupted by

the plan from asia specifically for the plan? melody: we have been a longtime investor as a non-operated investor in our producing to thailand. we are one of the largest players in the region to produce 50% of the energy for bangladesh. a large producer in thailand, a large producer in indonesia, predominantly oil. but the regions of the asia-pacific are some of the fastest growing economies in the world. we are a large player. alix: some of the most volatile as well. what is it like to operate there? melody: we have had a long history in china.

we have had a long history of partnership there. matt: what is the range of forecast you're working with right now? for a new product for production? melody: our investments are for the long term. when we look at our investments in the region thailand bangladesh, we also have large projects like the week's stone project there we take the long term view. alix: are you working with a particular number right now? exxon, for example, some of their properties $55. we are seeing trade now around 58. what is the crude number we are looking at? melody: we test our plans for a variety of prices but focus on the long-term p our projects are large and complex and produce for decades. we have been always in

asia-pacific for many decades. we invest for the long-term. alix: what is it like as an oil producer? we have filings corrupting in yemen. their concern about oil in one of the trades there. that caught up oil transport. how do you deal with that as a producer? melody: volatility is not unusual to we have seen it in prior years. we focus on cost management. everything we do in any price environment, we focused on being a low cost per nook -- producer. being highly reliable when there is volatility, you continue to focus. matt: i imagine it is much more stressful. melody: geopolitical changes have also occurred for many

years in the industry. we partner long-term and a value the ability -- we are very focused on the communities in which we operate. alix: thank you so much. it could be really fun. asia-pacific exploration and production president. matt: i want to bring you up to date on top stories in the morning. more evidence on stabilizing care first-time claims for unemployment benefits fell more than expected last week. for the last clutch release, the average has fallen below 300,000 when jobless claims are low. it usually precedes more hiring for oil climbed to its highest price in two weeks.

they are up 17% in the last five days are the price of west texas crude, west texas intermediate, is now up $51 per barrel. traders are concerned the fighting in yemen may disrupt the flow of oil from the entire region. in switzerland, negotiators hope to have a framework for a deal on a rant's nuclear program on sunday. that is according to diplomats with direct knowledge of the talks. john kerry is back in switzerland for those negotiations. yesterday, john kerry had a response for critics of a potential dear. -- deal. >> anybody has an obligation to stand up to put a viable, realistic alternative on the table. i have yet to see anybody do that. so we will see where we go. matt: the u.s. and five other countries want to keep iran from building nuclear weapons. iran wants an end to economic sanctions.

those are your top stories. coming up in 10 minutes, times of the table, we will hear how two of the biggest names in the crude industry held with massive pr problems. plus, we will go to france for the latest on those stunning and tragic revelations about the german air crash. prosecutors say the copilot liberally flew the plane into the ground. it is not an iphone, not a doubt see, but americans may still give this smartphone a second look. more coming up. ♪

matt: have you book your cruise yet? one of the biggest problems facing the industry, diehard cruisers versus those who would never be caught on one of these cities on the sea. betty liu tackles this. titans at the table cruising

the high seas. take a look. >> have you been on every single one of your 101 ships? >> i have not been on every ship yet, but quite a few. >> when you walk on one of the ships, the first thing you notice is the amusement style attractions. it is like the county fair on water. after you dry off, it is time to take extravagant entertainment. then it is off for a meal fit for a queen or king. to some of their nighttime hotspots where he showed me some signature dance moves.

richard took me on a tour to show me firsthand what kind of vessel a billion dollars eyes you are that over 1000 elong and the ability to sail with nearly 5000 passengers, it is one of the largest ship on water. the first stop is the north star observation pod. >> this is a perspective you never get to see. it proves my point. >> it does. this is amazing. >> at the various -- the very highest, we were above the statue of liberty. 300 feet out of the water. the northstar is just the first attraction that has everything you could think of, and then some.

bumper cars might be the last thing you expect to see on a cruise ship. here on the seas it somehow feels right at home. being out at sea, if that is not enough for you this note has the way of getting you airborne. >> the best job in the world. matt: that he survived that trip and is back with us here in the studio. betty: i have to say the skydiving was pretty cool. alix: too scary. betty: i was nervous but i figured of richard can do it, i can do it. matt: give us an idea. i've seen a couple of these

cruise ships, not up close. i have not been on a cruise ship. i have been on a river cruise. these things are gigantic. betty: they are twice the size of the titanic 30 think about cruise liners in history, you think about the titanic. but look, the industry itself is huge. point i'm mean people around the world have crude -- have cruised to most of them are in america. we love cruising here. it is telling neither of you have been on a real cruise before because most of the people who cruise are over 50 they make over $100,000 a year and they are mostly white. not a lot of diversity in their customers. that is what they are trying to do. alix: it is not only diversity, but sort of a younger age group and not necessarily people who have kids either. like matt how do you get him to go on a cruise ship? matt: can i bring my dog? betty: you might be able to.

how do they get young people to cruise? richard, this new quantum of the seas, it is putting in things like dynamic dining, where it is almost like an open table app located only within the ship. they also put in wi-fi. it is a lot harder to put on wi-fi when you are in the middle of the atlantic ocean, but that is what they are doing. they are trying to do things like that. of course, you saw the bumper cars and the ice-skating rank and basketball courses. they're trying to put cool and fun things in there. matt: have you ever been on a cruise? betty: i have it it was 15 years ago. alix: ok, but you need customers to compete in the industry. they have a lot of competitors. betty: they have a lot of competitors. one place these cruise liners are thinking is an area totally untapped is china. both carnival and caribbean are

acting up their chinese operation. matt: very cool. i look forward to "titans at the table or code you can catch the full episode tonight at 9:00 p.m. on bloomberg television. ♪

>> live from bloomberg headquarters in new york this is "market makers" with erik schatzker and stephanie ruhle. alix: a nightmare scenario and the skies. the copilot at the german airliner locked out the pilot deliberately sent the plane into the french alps. matt: hcc wants its new device in the conversation with apple and samsung. alix: -- matt: i'm matt miller.

alix: i am alix steel. i'm in for erik schatzker. alix:matt: french prosecutors say it was not an accident that brought down the german and bus. it appears the copilot locked out the pilot from the cop it and -- from the cockpit in lieu the plane into a mountain. that after investigators listen to sounds from the voice recorder. they heard the pilot try to break down the cockpit door during the final plunge. the parent company lufthansa was asked if this would change their procedures in the clock it. -- in the cockpit. >> as i mentioned before we will get together with the various experts of lafond's a group airlines. and with the german government.

we should not jump into short notice activities. we should refrain. matt: the copilot was a 28-year-old who joined germanwings in 2014. the test showed the pilot was completely fit. another sign the job market is holding up. unemployment benefits fell to a five-week low. the application show that employers are holding onto workers, that typically coincides with more hiring. lululemon reported fourth-quarter earnings that beat the fourth earnings. what are close where the attraction. lululemon is trying to boost sales by adding more seasonal and streetwear products. it is up to a jury in the high profile gender discrimination case in silicon valley. alan cow has accused of

gender discrimination by failing to promote and eventually firing her. kleiner perkins per trade pao as a poor performer who made baseless claims of discrimination. can you imagine a more boring play then the extra point in professional football? neither can the team owners. they will vote on different ways to change it. moving it forward for a two-point conversion or doing away with the point after kick altogether. there is no way they will do that. it is traditional. it is part of the game, boring or not. i predict they will not do away with the extra point. alix: let's talk about what has been going on with the germanwings flight. the -- i want to learn more about the copilot.

joining us is a former commercial pilot in safety consultant from orlando, florida. and greg vesuvius who joins us from paris. what can you tell us about the pilot? greg: not a huge amount. 20 years old from a town a hour north of frankfurt. he began in a gliding club and his dream was to fly commercially. not huge amount beyond that. he had 600 hours under his belt compared to the 10,000 from the command pilot, the man he locked out of the copilot -- of the cockpit. the ceo would not give the reason there was a gap in the training citing medical confidentiality, but there is nothing anyone knows that could explain what happened. alix: when you look at the news

today, what does it tell you? greg: first, it is not that a pilot leaves the cockpit to go to the restaurant, tet -- to go to the restroom, so how long was he planning on doing this. how long was he left alone in the cockpit. if it was a u.s. airline and one of the pilots needed to leave, a flight attendant would take the pilots place in the car it. there would always be two people. if that procedure had been in place or if it had been and it had been followed, we would not be having this conversation.

alix: -- matt: that is not a regulation outside of the u.s.. what are we hearing from regulators? or ceos? where does prosecution come in? greg: under the french the pulley on a code, and investigation is always open by the justice system. i do not have to suspect criminal intent. if from the beginning they think it was an accident, and investigation is always open. we call it manslaughter. that is the closest thing. it is a standard thing. prosecutors in all countries can often seek the limelight. the french aircraft crash investigator, the bea is so furious that there has been a lot of talking by the french criminal prosecutors.

there's a bit of a match going on between the two french sides doing the investigation. at is the rule -- as of the role of the second person in the cockpit, it is normal practice but is not always followed in lufthansa. it is not a hard and fast rule. alix: it must be difficult, keith, to time when you're copilot may or may not use the restroom. that brings in motivation and preplanning. keith: that is what has to be looked at. he may have had the idea for a long time. i am sure we will learn more about him and his motivations for doing this. alix: do you think we will be saying more psychological testing for pilots all around the world? keith: we do psychological

preemployment testing now. a test that has been used for years. just because a person is psychologically fit 20 is higher, does not mean that problems will not change that about his life. alix: do you think we will be implementing regular psychological testing, then? keith: we do now. i think it is adequate in my experience. i do think we will see the procedure being followed more strictly by lufthansa about having to people in the cockpit at all times. matt: what do he know about andreas lubitz? we know he is from montabaur, he is 28 years old. do we know anything else about this guy?

greg: no, we know there was a gap in his training that could be inconsequential or it could be the key. the ceo of lufthansa would not get into it citing medical. every news crew in the universe is descending on that town. we don't know anything at this point to explain what happened. matt: do we know anything about the pilot that was locked out? greg: 10,000 hours of training. much more experienced. 10,000 hours of flying. the copilot was experienced and had been with the company a long time. alix: what is the number one thing that we will see out of this that will go to try to prevent this thing from happening again? keith: we will try to analyze what we are doing and see how we

can improve. i think the u.s. system works and if it had been in place this may not have occurred. alix: thank you for joining us. we are trying to break down this very complicated topic with greg viscusi and keith mackey. there's still so much that we don't know. matt: a lot of unanswered questions. you will hear a lot of speculation no matter where you look. you cannot avoid speculating yourself even though you try not to do it while the investigation unravels. a lot of times they take a year or longer to figure out the real cause of an accident. alix: you may never know at the end of the day. you were not inside his mind. matt: is this the new android phone that can beat samsung? we will talk to the president of htc america, coming up. alix: a jury is deciding a

gender discrimination case in silicon valley and tens of millions of dollars are at stake. ♪

alix: time to bring you up-to-date to the top stories around the world. the final moments of the germanwings airbus. the copilot locked the pilot out of the cockpit and flew into a mountain deliberately. the copilot is a 28-year-old german who began flying as a

teenager and had been with the airliner since 2013. to copilot went to the same screening is everyone else according to the parent company, lufthansa. >> they know we select cockpit personnel very carefully because this is a part of our dna. alix: he was fit to fly. greek bank deposits by households and businesses fell by 5% last month. the february deposits were the lowest in 10 years. the ecb made $1 billion available to greek lenders earlier this month. adidas is going big city when it tries to catch up with nike. the sporting-goods company will shift spending in new york and lending because that is where trends are set. adidas will cut the amount of time it takes to get new sneakers in stores. the doors opened on the a2 of san francisco for a sex

discrimination case that has captivated silicon valley. ellen pao is suing finer perkins -- kleiner perkins. she was not promoted and fired from the firm because of her gender. cory johnson has been following this and is outside the supreme court in san francisco. when will we hear a verdict? lori cole -- corey: it could be as earliest today. the other courthouse in downtown san francisco. a cross from san francisco city hall. it goes down san francisco and into the heart of silicon valley. there is no bigger name than kleiner perkins. ellen pao is suing on four counts. she was discriminated against because she is a woman, retaliated against by not being

promoted from her position as junior partner, that she is being retaliated against by not getting more money and she is suing saying the company did not protect her from discrimination. the jury is deliberating on all four accounts. they will deliberate possibly into monday. we will see what they come up with. the trial has been colorful and interesting. her investment returns were not great. her performance was not very good at the firm. while she was gathering information against her, her firm was gathering information against her. that seems to happen concurrently. that seems to boost her story. she was getting fairly positive performance reviews from what i have read. if her investment returns were poor, i guess that is strong evidence she was not doing a good job but why would she get positive reviews?

corey: one of her negative performance reviews had a date after she announced she was suing the firm. those a great help to her case. it will be interesting to see, a lot of legal experts say she has a strong case and are surprised that kleiner perkins which has deep pockets, is willing to pursue the case. one of the interesting things that goes beyond venture-capital is that kleiner perkins hr policies were not top-notch. they do not follow the best standards and practices one may expect from such a well-known firm. a lot of started this messes around silicon valley a looking at this case trying to figure out what they need to do to bring their hr up to snuff because of the huge risk of a trial and exponential financial conditions. alix: last year 6% of dce

investors were women, that is down from 10% in 1999. what do you think a trial like this may do to change that, good or bad? corey: there is a great debate about that. the information that i have is until there is a class-action suit affecting a lot of firms and a group of people, at the end of the day the way that those firms are run, there is an old boys network focused on investment returns and the squishy aspects of venture capital. it is about selling something to the next round of investors and an ipo. that is the focus of the firm not going beyond the bigger goals of gender equality. matt: 6% and 10% both numbers are negligible.

alix: the declining rate is what is striking. matt: kleiner perkins says it has 20% of women partners. corey: you have very high profile people. some of the best minds about finding who to put into the kleiner company. she publishes an annual in her role as partner of kleiner perkins. the industry looks to her to find out where a wayne gretzky quote, where the puck is going. there is a trend about technology. they are high-profile women among the 20%.

alix: this will not in the conversation. it will continue after the verdict. cory johnson, bloomberg west editor at large, who will bring you the ellen pao trial about the day. "market makers" will be back. stay with us. ♪

alix: warren buffett said he has the diet of the 6-year-old and you can tell from the companies he owns. everything from kandi to dairy queen. let's look at what your daily diet looks like if you would only eat their products. coke and coffee for breakfast. taken on board. that is probably half of your calories for the day. matt: let's go on to lunch. alix: you get your burger king whopper with fries, dairy queen shake coke, and dinner -- mac and cheese hot dogs, french fries, jell-o, and a budweiser. matt: this seems like something i would eat. i'm not really down with the doughnuts because they feel like empty calories -- alix: versus a mac and cheese?

this is what you eat if you only eight products that he owns. matt: i thought someone had gotten warren buffett's actual schedule. you know he eats like a 6-year-old. he found that six-year-olds have the lowest probability of death. alix: re: making that up? but they are also running around playgrounds. i want to point out that if you ate all that food you would probably have heartburn. it is a good thing that warren buffett owns a little of johnson & johnson which makes pepcid and imodium. alix: that is it great fact. he has completely taken care of your entire digestive system. what happens if you come up with larger arteries later, i don't know.

matt: coming up, we will talk about something else that could help you with your health. htc takes on the big guys. will the new smartphone cut into samsung's market share. alix: we'll be right back. ♪

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>> live from bloomberg hurt quarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. matt: i am matt miller. alix: i am alix steel. another down day for the stock market. all indexes fell for a fourth straight day. let's get the latest from scarlet fu. it tends to be the by the trend that we are not seeing right now. scarlet: with today's retreat in stocks we noted the s&p 500 join the dow industrials in giving up their gains for the year. the s&p is down by a quarter of

1% and the doubt extending its losses to 1%. the nasdaq is still positive but below 5000. it is 200 -- 2000 points high of its wreck -- 2000 points shy of its record. the overall trend has been below economists expectations, leaving many to question if by on the dip is something we still do. that is not limited to the u.s.. if you look at what happened globally you get a good snapshot. this is the msci world index. it is trading last night at 7:00 p.m., asian trading, the red arrow indicates when europe opened, we did a lower, and the u.s. market, we took a big letdowns shortly after "market makers" began. this is the third straight day for losses for global stock. the dollar is falling alongside u.s. stocks giving commodities

like oil and gold a boost. crude is back above the do dollars a barrel following bombing in human targets. the question on how long that will last given the excess supply in the u.s.. alix: over 50. scarlet: i just showed gold. matt: i'm just saying it is not a part of the conversation like oil is. i'm bringing it into the conversation. i'm making a segway. htc's newest flagship phone the 1m9 will be on the market at midnight. who will buy it? thank you for joining us. i was thinking about gold because you have a rolex-like gold and silver design. >> that is one of the reason

people will buy it. you wanted to have a great design because it is with you all the time. we don't talk about gold enough. bring it. matt: we don't talk about gold enough. htc has been making the best of the android smartphones for years, but has not helped with sales. you're not gotten a lot of market share even though you make what looks like the highest and -- highest and -- highest end and quality products. what we have done is people that buy htc they know we will come out with a powerful phone. it will be the latest and have a great design. we are doing something on top of that to set us apart. we have done a ton of research over the last couple of years and found that one out of every four smartphones, people are

using a damaged phone. jason: you get a cracked display, water damage, all of those things. htc will be the first to sell you a premium phone and wrap it in premium coverage. you don't need to have a case, for example. matt: because you will replace it? jason: we will replace it for free. if you decide that it is in your best interest to change carriers, we don't think you should buy a new phone that matches that carrier. if you switch from carrier x the carrier why we wilson do the new carriers device free of charge. alix: how can you do that in terms of your margins? jason: we are taking a different

approach from our competitors. we are giving premium service. we are investing in our customers. our competitors look at those opportunities as another way to get their hand in your pocket and profit off your mistakes. we will sell more units investing in our customers post purchase. matt: you don't think apple is charging way too much by charging for a screen they know i will break? as far as market shares are concerned, even with a premium product -- alix: in 2000 11 you are on top. and that has deteriorated to under 3%. jason: the market shifted in terms of how people buy phones. what we are doing, we are doing what no other manufacturer has done. not note here, blackberry, or motorola. when a smart phone has gone

negative quarter over quarter like we did in 2013 they never rebounded. a lot of people wrote it to see off. we have dug deep and we are having profitable growth. alix: so back to your margins. your product apple. he after he placed the screen if it breaks. that is where they make their money. they can use that for making new products. what financial's edition will does leave you have to continually -- jason: and all of our research of the people who had 0% consideration for htc when they found out about -- who had zero consideration for htc, when they found out about the protection there interest rate from 0% to 70%.

we are taking advantage of our size. aggressive. it is confusing to customers when they see 25 similar looking phones. this gives us a strong differentiation to battle against the other guys. alix: at which point do you reach saturation with high-end phones? jason: right now they are status symbol which is why they're there's so much emphasis on designs. if you have a teenager in the house you know they cannot wait to still your upgrade because they want a new one. matt: i wonder what you are doing as far as marketing. are you looking into social media, digital marketing? are you doing tv and print ads? what is working for you to gain market share in america? jason: we are doing all of those things. right now we are investing in consumer value. matt: services?

jason: you will see that promoted heavily in digital. an broadcasting some of the experiences people are having on their phones and having our customers and fans be a big part of our boys. matt: so you need to get thought leaders? using the phone? jason: from robert downey junior to thought leaders in their own communities. there's always the person you go to in your family or your friends that knows a lot about phones and say, what is next? this is what is next. matt: jason mackenzie thank you for joining us. alix: hostels no longer mean you are on holiday from hell. we will talk about it. matt: have you seen the movie? alix: i'm afraid of scary movies and haven't done it. matt: don't watch it, then.

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matt: hostels conjure images of thin mattresses and smelly roommates. but the fast-growing hostile chain promotes stylish and contemporary affordable accommodations with an eye toward social media. here to talk about it is the chief strategic operator at generator hostels. i find this idea fascinating. i feel like this is what the kids are doing. you can tweet and that is your aim? >> the aim is to do lifestyle hotels and boutique hotels of always done. bringing the price down for the millenial traveler and empty-nesters. matt: you don't hear as much

about this in the hotel business. josh: they're trying to share fun with all of their friends. that is what generator and other hostels that are coming onto the segment are offering. it is an exciting time and is very innovative. alix: are you 25 euros a night for the 22 rolled does not have cash, or is there a variety of people you are going after? josh: if you think about what we are offering, a shared experience in some rooms and a premium experience and others. we do offer a 20 euro and night room, 10 to eight people in a dormitory, and if you want to have a little flash and use a little more cash you can go to a twin room. we have twin luxury premium suites and other rooms with incredible designs.

alix: at what point does it become a hotel and not a hos tel? josh: the distinction is sharing. you have different categories were people can stay together. and the distinction with generator is we have a public space. your typical three-star hotel would not have a big bar and nightclub. in paris we have 1000 beds three huge food and beverage operations, and underground disco. it is different. not your average three-star hotel. matt: it is an opportunity to merge forces with kindr? josh: funny should say that. there is an application called happen that is geo-located. we have the ceo at the party who brought his staff and had everyone using these things to

chelan ok'd. where 1000 beds in paris. the average customer is 18 to 35. that is a lot of people having fun under one roof. matt: influencer was the word i was looking for. alix: what about another generation? if you look at the baby boomers that are retiring and will be traveling. are you trying to get them also? josh: if you look at where everyone says millenial, to me it is more of a state of mind and not an age. if you look at recent data, the millennial mindset says 70% value experiences over things. baby boomers have spent their life accumulating wealth. they want to spend it not necessarily on a shiny new gadget, but an experience. we are seeing a lot of baby boomers or empty-nesters

staying in properties in paris and london. matt: can i advise against that? when men get to a certain age st -- snoring in a loud way becomes part of the course. alix: but then you pay for the higher-end room. what about the airbnb? josh: we see that as a friend and complement tree. if i am generator, i'm excited. it is bringing attention to cities and getting another class of travelers using different types of accommodation. if i may 4 and five star b&b i am terrified. we are selling for 29 euros and night and have a social space downstairs reading go until 4:00 a.m. and have a lot of drinks with your friends. you cannot do that in an airbnb apartment.

we love airbnb uber and all of the technologies changing the way people are traveling. this is where we see the next five or 10 years. josh:-- alix: where are you staying in new york? josh: at the pod hotel. small rooms and good design. there trying to unlock value for the customers to spend on different areas. they want to spend a hundred $50 on a hotel, go up to the bar the club, a great show, or concert. matt: when a generator is in new york it will be also a great place to hang out? josh: we are looking at north america. downtown los angeles, new york d.c.. there is a lot of blue ocean out there for us. alix: thank you so much.

it was good talking to you. josh wise white, the chief generations operator at generator hostel. in france, stunning revelations about the crash of the germanwings airbus. the 28-year-old copilot lot the pilot out of the cockpit and deliberately flew the plane into the mountain. andreas lubitz did not have any terrorist training and started his career in 2013. his family said he seemed fine as recently as christmas but did several from depression. the company says he was completely fit to fly. >> those in our industry know we select cockpit personnel carefully because it is a part of our dna. alix: the largest criminal fine in a sanctions case. $232 million. schlumberger unit violated

tensions trading with iran and sudan. retired golfer greg norman is starting his own lending fund named the great white shark opportunity fund. he was down as the great white shark while winning 91 tournaments. it will start with 75 million in capital. "market makers" will be back in just a second. stay with us. ♪

matt: we are already at the end of the show? alix: come at 3:00 with me? matt: i will watch like i always do. tomorrow it may be due or die for dreamworks animation. the only movie this year is coming out. what will audiences decide?

i liked kung fu. they also did shrek. how to train your dragon was one that is underrated. alix: they're looking for a new hit in a competitive environment. matt: a b they are just relaxing? alix: doubtful. have a nice day.

scarlet: bloomberg television's on the markets. i'm scarlet fu.

u.s. markets are selling off for the fourth straight day leaving the s&p to give up all of its 2015 games. this is not limited to the nine it states. equities in asia and europe declined. treasuries are lower meaning higher yields. the dollar is now little changed on the afternoon. joining me is the equity driver at --. what you attribute this weakness to? is a yemen and geopolitical concerns? what is it? >> i think people are over analyzing the selloff. i would come back with a question, why did he rally last week? the testimony from the fed was somewhat ambiguous and neutral. greece said they would have to deal with finance ministers in europe. yes, last week's rally was a mystery. this week selloff is undoing

some of those things. scarlet: what is going to be the next catalyst? >> more clarity from the fed. when that comes, i don't think anyone knows the answer, and resolution with greece, and the finance ministers. those are more quantic overhead than a cute overhead. short sell off like this. scarlet: called it not that interesting of a level. where should it be? >> a got to to a low of aleppo. to low considering there are risks for market values. 16 is also an interesting. and more appropriate as to where the risks are in the market right now. scarlet: trade on the sp y. the overall market. what is your strategy? up until now for the last five years are

so we have been talking about how buying on the tip has been working for everyone. >> i'm reiterating the tray that has worked for five years. it has been a great opportunity to leverage for the upside. the trade i have in mind is selling of foot. equal calls out of the money. you can sell one foot out of the money and buy more than three calls of the same money on the other side. it is a great way to get money to the market bouncing back. it has worked exceptionally well for the last five years. scarlet: counting on people to come back and when the valuations of gotten more attractive? that's moved individual names. everyone is selling off the tech shares momentum names. down double-digit shares because it has cut its revenue forecast. what equity do you see in sandisk? >> in the wake of their forecast cut, in the semiconductors in

general we have seen a lot of bearish activity following intel's guidance cut earlier this month. the semi-conductor activity has picked up that sandisk is another chip to fall. it is another stock that has been weak. we are seeing weakness across big names in the space. a lot of that is pc related. the refresh cycle from last year is floating and now that is ending. scarlet: thank you so much. we are on the markets again later this afternoon. "money clip" is up next. ♪

pimm: welcome to "money clip ." details on why investors watch what happens in human. cruise control, betty liu suits with two titans of the seafaring world.