greece may have to default on debt payments of there's no new deal. drone companies are taking off. it may become an $80 billion industry. mark: bob parsons made a name for himself as founder of go daddy. but his true passion is golf. he thinks you should pay up for his latest pitch. ♪ mark: good afternoon from bloomberg world headquarters in new york. this is "bloomberg market day," i am mark crumpton here with scarlet fu. scarlet: you don't have very big moves in the s&p, dow, nasdaq. we do know there is increased volume at the open and close when futures and options expire.

oftentimes, what happens during the session is fairly modest moves. in treasuries, take a look. you do have treasury prices rising. that means yields are falling. the 10 year yields going down to 2.26%. first again in treasuries in three days. mark: to some of the top stories crossing the bloomberg terminal. the european central bank throwing another lifeline to greek banks. it is increasing the level of emergency cash the banks can tap . in the last few days, depositors have withdrawn more than $2 billion. last night in athens, thousands of protesters demanded the government find a way to stay in the euro. today in saint petersburg, russia, the greek prime minister alexis tsipras put the blame for the crisis squarely on the european union. tsipras: the european union should go back to its initial principles of solidarity, justice, and social justice.

ensuring strict economic measures will lead us nowhere. greececalled problem of is not just a greece problem, it's a problem of the whole european union. met: prime minister tsipras with russian president vladimir putin. the question of financial aid for greece was not discussed. scarlet: the alleged gunman in wednesday night's fatal shooting at a historic black churches are awesome, south carolina, has been formally charged with nine counts of murder. a bond hearing is scheduled for this afternoon. his roommate says roof want to start a race war and had been planning an attack for six months. we spoke to the cousin of one of the victims and she shared that story with abc news. >> it was horrible. there was just blood all over the place.

dead, the daughter, to survive in order to get him not to shoot her. federal authorities are investigating the killings as a hate crime. the south carolina governor is calling for roof to face the death penalty if you screw -- if he is convicted. mark: vladimir putin says his country is weathering the economic crisis better than expected, especially with challenges from slumping oil price. he answered questions from bloomberg's charlie rose. putin: at the end of last year, many people predicted the crisis in russia, and this has not happened. we have managed to stabilize the linetion, to draw the and we aresituation successful in going through the

difficulties because the russian economy has accumulated the inner strength quite well. putin says his government has maintained control over inflation has what he called a sustainable budget with unemployment low at 540%. we will have more from the russian president later this hour. markst: julian assange the anniversary of his stay within london's ecuadorian embassy. he entered the building in june 19, 2012 to avoid extra addition to sweden -- extradition to sweden. british police stand outside ready to arrest him if he leaves. u.s. state department says global terror attacks rose 35% last year. the islamic state and local rom -- bo boko haram are responsible. the state department says there was an increase in so-called lone wolf terror attacks in the west. the white house awaits

a supreme court ruling on obamacare, and the congressional budget has come out with a report on it. they say it repealing it would cost budget deficits. raiseo says it would economic outlook because many people would work more to make up for the lack of health care subsidies. of the cable tv industry is dead. ralph roberts founded the company that became comcast. he started in 1963 by buying a small cable-tv system in two below, mississippi. comcast has grown to become the largest cable provider. his son is now chairman and ceo. ralph roberts was 95 years old. those are your top stories at this hour. scarlet: coming up in the next half hour of the "bloomberg market day," greece is racing against the clock on a possible bailout extension period some say it is time for capital control. mark: florida booming thanks to

grandma and grandpa. how retirees jumpstarted the sunshine state's economy. scarlet: why venture capitalists are all about the drones. we look at the most promising drone startups on the scene. all that and more coming up on the "bloomberg market day." back to greece, an emergency summit of european leaders will now be held on monday. the country inches ever closer to a default and possible greek exit. earlier today, matt miller and i ceoe with the founder and of foresight strategy and to medications. he discussed his contingency plans over greece. at this moment, the contingency plans have been exhausted. we have been redrawing contingency plans over the last four months. now time for leadership, regardless of what party they represent, to consider using russian now in boldness and come up with any solution, any settlement that will allow at least the business

community and private sector to continuously move our country step by step forward, and hopefully at some point we will be able also to deal with the structural issues that we andnitely need to tackle get them behind us in order to move the whole country ahead. >> what about you personally? have you taken out enough cash to get you through next week, or are you not worried about it run? >> i have heard so many times that there is this issue, i didn't go. i'm not sure that we will have such an issue at the end of the day. get 1000ure that if i euros and put them in my home for the weekend, that will save me if we end up moving outside the eurozone. behink the problems will very more difficult.

it will be completely uncharted situation. 1000 euros more than what usually you have in your pocket will never solve our issues. stay put. alex sounds like he is tired of the boy who cried wolf. there does seem to be a lack of panic about a potential greek exit. >> people slight big difference is now between situation now a few years ago. the biggest being that who holds the debt? it's mostly ecb and imf for other governments. not as much the banks. bank, and you have this defaults, you might run on that. the financial contagion can happen when it's official institutions holding the debt. there's less of a fear. scarlet: alex, prime minister is increasingly

isolated from fellow european leaders. is he increasingly isolated from the greek business community as well? i think yes. in essence, he is. i think the whole government is a healthy productive part of our society. but more or less we know that you have to be credible, you have to be productive, you have to follow russian now. months the whole four that we have been witnessing the choices of the recent government, again, regardless of the political ideologies they may represents, they just don't sit with today's world. our number one priority should be to maintain our credibility, to solidify our role in our relationship with our traditional partners and allies, in to find the right tactics

the will to solve the problems, whether we like it or not. they are here for many, many years. to bek it is imperative able to come up with any solution over the next two or three days. again, to be able to move forward. there's a very strong part of our society that doesn't care any longer about ideologies. u.s. centric pundits kind of group who russian alternative is a viable option. is it? more people are mentioning it as a solution. joe: it seems implausible. it seems like russia was saying it was going to be a savior for tsipras, there was more russian money there, and also way that didn't turn out to be a thing. russia was going to step in to save tsipras, that was implausible.

i'm pretty skeptical that will happen in greece. scarlet: that was joe weisenthal and alex, founder of foresight strategy and communications. mark: still ahead on the "bloomberg market day," more talk of capital controls for greece as that situation escalates. but what exactly do they entail? we break down the numbers. ♪

mark: welcome back to "bloomberg

market day." i mark crumpton with scarlet fu. has a looklie hyman at the markets. it simply quiet. julie: i wanted to focus on group what we are seeing a lot of activity, which is packaged food. trying to fix the thing on my computer. today. of about 10% the best performer in the s&p 500. this is after jana partners disclose it had taken a 7.2% stake in conagra and that it might push the company by nominating three new directors. it has to conagra to delay the deadline to nominate directors. it also said the company's performance had been disappointing since it acquired ralcorp, and other packaged food company back in 2013. according to jenna's filing, following that purchase, we saw disappointing performance for negative revisions

to long-term earning targets, no dividend per share growth and operating performance challenges. some pretty negative reactions there. since the closure of that deal, on january 30, 2013, we have seen the shares climb, if you exclude today's gain, by about 20%. that's half the performance of an index that tracks in the industry. we look more that in a moment. shares have been up, but they underperformed their peers. the other big packaged food company we are watching today is her she is. ershey cut its- h sales forecast, and said it would cut 300 jobs as a result of disappointing job performance in china partly because of slowing growth, partly because of competition. i wanted take a look at my bloomberg terminal, if we could, at grocery expenditures. if i can get rid of this pop up. we're seeing grocery expenditures over the past few years, this chart coming from bloomberg intelligence. a 2% decline since 2013.

people spending less on groceries, perhaps eating out more. that's been one of the things that put it under pressure. able to spending less generally. but packaged food stocks have actually done quite well. i mentioned that index of packaged food companies, helped in part by conagra's gains today. we are seeing it up 1% in this index, it's actually a record that includes conagra and companies like general mills and campbell soup. spending onwaning groceries, the stocks have been doing pretty well. scarlet: julie hyman, thank you. what is the latest on the market. mark: ebay has agreed to sell its 20% stake in craigslist regulus. the only marketplace that is litigation between the two companies will be dropped. ebay bought its stake in craigslist back in 2004. airwayserror lies --

offering nonstop service between tokyo and houston, texas. northecome the 10th american city served by the airline, the ceo says he is looking for additional destinations in the u.s. heartland. was john tosays it houston by a large number of connecting flights there to latin america on partner united airlines. walmart wants to make sure you don't walk away with the store, literally. three years after the largest retailer moved readers away from the entrances in many stores, now they are coming back. the wall street journal says theybecome -- it's because want to improve customer service and deter shoplifters. those are some of your top stories at this hour. scarlet: as the deadline looms for the possible greek deadline extension, the positive flight from banks has picked up, which has prompted talks of capital control. mark: brendan greeley explains the history of controls.

way to knowe's a it's serious. at least one european official has brought up the idea of capital control. these are laws that either keep domestic savings in a country or keep foreign investment out of the country. according to the imf, countries that spent the last two decades relaxing these rules. developed economies are now much more likely to allow capital over the border. going up. developing countries are only a little more likely. for a while, capital controls were considered something polite countries didn't talk about. that was before the financial crisis. in 2008, a team from the imf arrived in iceland and help the country pass a law that said essentially you couldn't get money off the island unless you are using it for travel or to buy goods. in 2012, the imf officially came around. disruptive l flows, it said, can create policy challenges.

for sometimeseak things get so bad you should not be allowed to leave with your money. this is an attitude that came in handy the next year when cyprus, working with the imf, decided that among other things, international transfers of more than 5000 euros had to be approved by committee. greece. if you have euros in the country, there is already a very good reason to get them out. the possibility of capital controls. what have we learned since 2008. first, it helps to literally be an island, it if you points of entry, cash can be discovered going in around. second, education helps. if you go to people why they can't travel abroad with more than 1000 euros, you have a better chance of getting them to obey. third, it is easier to get into capital controls that it is to get out of them. also, branding. the imf no longer speaks about capital controls, they say instead capital flow management. i love that euphemism. what control. people are just moderating their use of money.

mark: absolutely. please leave, but if you are in any money overseas, please bring it back. a country like malaysia imposed capital controls during the asian financial crisis, and actually recovered faster than some of the other countries like south korea and thailand trade they will come back and say it worked. and we are better off because of it. mark: brendan greeley, that was fascinating. scarlet: coming up, some of the fastest-growing companies in the u.s., and you won't find millennial's anywhere close to them. is that good or bad? ♪

scarlet: shakeup in the food industry. julie hyman was telling us conagra foods is now being

theeted by jana partners, activist investor. that firm is threatening to nominate three directors to the company's board is a disappointing results after conagra's purchase of ralcorp. shares soared after the announcement. they are up 11% over the past few days. earlier today, i spoke with greg about what's causing so much movement in the food industry. craig: 3g has come to town and a big way, first with heinz, they prove the margins there, and .aking over craft the was consumers moving away from the center of the island a lot of these countries are struggling. you see activist getting involved. scarlet: this is the example of how m&a hurt rather than helped. craig: on paper when this happened, it made sense. if the company was solid brand, saying we're going to pick up ralcorp that sells to supermarkets.

in practice, they haven't been able to integrate the two pieces of the business. some people, it's been a problem and hasn't worked well for them at all. scarlet: turning to deals another kind, booming oil towns are so two years ago. retirement communities in florida have taken their lead as the fastest growing economies in america. you can thank the baby boomers, they are settling down in cities like naples and cape coral, florida. it's now dominating the aging metro areas. other metro areas in robust growth mode -- austin, texas, raleigh, north carolina, san jose, california, and provo, utah. scarlet: the birth rate there is higher than the national average. with a fading booming energy coming down, the worst economy will be midland, texas. you know who's from their? mark: laura welch, now laura bush.

scarlet: good job. mark crumpton always surprises. the town posted 12% growth, but it's expected to contract 3.2% next year. you see what's going on there, especially as compared to intexas,ng on florida, it's fascinating to watch the demographic shifts. it's also fascinating to watch the economic shift and see what's going on in those communities. some of them are doing very well, and some are struggling. they are getting left behind. scarlet: true. you have income disparity there. i wonder to what extent the next business opportunities really will be in places like cape and naples, where you can look for ways to relieve the baby boomers of some of their disposable income. are beingmillennials so selective about how they use

their income and then you cvs andies about entitlements what money might be there and what money might not be there at the very least, maybe they are giving some thought to how they are spending their disposable income because a beating it on trust lawmakers to try and fix the system. scarlet: that's an almost certainly at this point. mark: i'm out. scarlet: have a great weekend. mark: it's father's day. scarlet: happy father's day. and he presents coming your way? mark: i hope lots of donuts. scarlet: coming up on the "bloomberg market day," thrown startups. ♪

. . .

scarlet: welcome back to the

bloomberg market day. russian president vladimir putin had some choice words for the u.s. today when he appeared at the st. petersburg international economic forum. he covered an array of topics with bloomberg's own charlie rose. one such topic was russian relations with the u.s. he accused washington of meddling in russia's affairs and not considering moscow's interests. putin: they are trying to impose on us the decisions and standards without thinking about how we understand our own interests. as a matter of fact, they are trying to say that they know better what we need. let us decide ourselves what are needs baseds, our on our history and our culture. russia ise also said weathering the economic crisis better than some expected, especially with the challenges from slumping oil prices. unemployment moved higher in 25

states last month. in many cases, that was due to people who reentered the job market but could not find work. west virginia has the nation's highest unemployment rate at 7.2%. nationwide, the jobless rate is 5.5%. chicago says about 2 million people turned out to celebrate the blackhawks' stanley cup win. fire department says it treated 41 people, mostly for heat issues. the blackhawks in the nhl stanley cup for the third time in six years monday night when they defeated the tampa bay .ightning on the subject of victory parades, a rare moment of basketball lori for oakland today is the golden state warriors and their fans celebrated an nba championship. the worriers returned home after defeating the cleveland cavaliers in six games on tuesday. it was the team's first title in 40 years. the victory parade started in downtown oakland.

venture capital investors are hot for drones. so far, they pumped almost $210 million into drones startup companies this year, almost double the total of last year. the faa plans to finalize regulations for drones by this time next year, and the industry could really take fright. joining me is a founding partner , an early-stage vc fund for hardware startups that has invested in multiple drum-related companies. what has changed in the last half year? everything has changed. i was talking to the ceo of one of our companies who does components for drones. he said he year ago, they had a couple of dozen customers that were drum companies. today is in the hundreds. scarlet: not only have you invested in startups, but these companies are seeking you out for advice. what kind of advice do they want to hear aqua jeremy: there's a lot of concerns about the regulatory

and work. when thing that has radically changed has been export controls in the united states to other countries. they have loosened them up so companies can start in san francisco and have their first customer in a place like europe, mexico, or canada. we have a portfolio company that actually has their own fund as well where they invest in drones startups, and their first two investments were in europe. scarlet: there's a lot of noise and hype. how do you strip that out and determine what is valid? jeremy: i think drones are were social, local, mobile was 10 years ago. a lot of people are pitching startups who may be do not have an aerospace background and do not understand the real dangers. i have screen five or six different startups trying to do delivery in crowded urban cities with no appreciation for the difficulty or danger they might raise. these are people jumping on the bandwagon who

know if they use the word drone in their page they will get an audience? jeremy: absolutely. suddenly, they see the opportunity. i spent five years in the air force to do real systems that of business grade that will last for a wild. you need to take a ground-up approach of understanding the country durability you need. regulatory clarity will be coming in about a year and a half, two years. when it does come, will the money flow ease up aqua is all the smart money being deployed now, and will we see that slowdown when we get clarity? jeremy: we see this in three stages. first, platforms and components. website me is the applications of drums. we just made an investment in a company using drones and aircraft to do observation of energy infrastructure, and i think we are just on the cusp, and once we have regulatory clarity, we will see an explosion of companies using drones do amazing things. scarlet: what clarity do you want? what do you need to hear most

from the faa when it comes out with guidelines? jeremy: the first round of guidelines were a huge step forward. we understand what the weight requirements will be in the training pilots need. the next layer everyone is waiting for will be the non-line of sight rules. we are big advocates of risk-based regulation. if a farmer or energy infrastructure in a place like alaska wants to use drones outside line of sight, that will be your first application. scarlet: i want to bring this back to most people who might not have had much experience with drones and have seen the commercials related to drones. amazon has been running a television ad on its prime service with the delivery guy singing and dancing and little him.s buzzing around how close are we to drones delivering our amazon packages? jeremy: i think we are a pretty far way away. henrique iglesias -- henrique -- iglesias uses drones of

his performance, and he cut up as hand a pretty -- his hand couple of weeks ago pretty badly. scarlet: the faa told congress final regulations would come by mid-twitty 16, and there's all kinds of estimates of how much in jobs this would create. 70,000 jobs according to one .rade group what kind of jobs will these be? jeremy: one big reasons that drones are possible as conductivity. by cap a number of years ago, jetblue famously used people who were stay-at-home moms as call-center operators. i think we are 24 months away from seeing people who can be anywhere in the world lighting drones in real-time, good paying jobs and giving you the flexibility to work where and when you want. scarlet: would these be full-time jobs with quality salaries, or are we talking part-time jobs where you start to question if these are contribute into our labor

market? they will benk full-time jobs with salaries because you need quality people who will be trained. they will be regulated by the faa and also be just beyond the pilots themselves, the greater ecosystem. what is interesting about a portfolio companies they are largely data scientist, so there will be some people who do the drones and understand aerospace, but kind of the backend of data analysis and using that information will create a lot of jobs. scarlet: how did you learn about becoming an expert in drones? -- jeremy: we think a lot of people from traditional aerospace backgrounds, and there's a number of people shifting into the start of ecosystem from the military who maybe got trained as a drone operator or maybe worked with them in iraq and afghanistan and come back and see there is this whole ecosystem developing around something they know more about than anyone in the world. scarlet: thank you so much, jeremy conrad, joining us from

san francisco. coming up, there's a pile of gold in manhattan, and texas wants it back. more on this showdown next. ♪

scarlet: welcome back to the "market day." how commodities prices have settled in new york trading. here to provide context and expertise is a manager of the bloomberg commodities index. she is actually making her debut on bloomberg television today,

so, welcome. i'm excited. let's start with crude oil. crude oil is, of course, the one we all focus on. it is an early mover and an indication of broader trends in the market. ,t has been stuck in that $59 $60 a barrel level. carolyn: it really has. it is the thing that people look at the most besides gold, and it really is following the dollar at the moment. we have to look at some of the other commodities -- scarlet: it's getting caught up in macro headwinds and may not be the most interesting leading indicator of everything else. why don't we go to commodities overall and perhaps look at gasoline. you are looking at it in terms of a longer-term context so far this year. basically, gasoline -- gasoline issically, the best performer so far this year. has far surpassed any of the other commodities. it is interesting because it shows an emerging market growth story in commodities. scarlet: this is what you

manage, right? caroline: right. it's what investors in the commodities space really look at. within this index, we have all these components, and we look at where the biggest movers are because people want to see where that performance is. you say this is linked to emerging markets, not so much the united states. i thought the story on emerging markets was gloom and doom and they are not doing so well. caroline: exactly. this is a positive stories -- story because you will see asian economies are using a lot of gasoline, so demand is way up, specifically china, moving from vehicle usage, tractors, industrial-type vehicles to more consumer vehicles. is that the distinction industrial vehicles use diesel and consumer vehicles use unleaded gasoline. caroline: and there's a lot of demand for that. ended anyhat has not

time soon. caroline: no, so they are competing less in terms of gasoline demand. scarlet: if gasoline is the best-performing commodity so far this year, what are you looking at as the worst performer? caroline: interestingly, you mentioned yesterday coffee. i say a correction of a supply imbalance that happened first quarter of 2014 where we had a series weather event disrupting supply. the fact is that supply has come back to the market a lot faster than people anticipated, so actually, coffee prices have gone down a lot. however, that's not the whole story. aboutt: tell us more that. we always blame the weather for the soft commodities. my initial instinct is to think that that is a cop out, but it is not because it's really difficult to get your head around all of this. caroline: i think we can all feel close to what is happening with the weather. going into july, that is our most -- the month we have to look at the most when we look at crops.

it could really surprise on coffee, so it could move from the lowest performer this year to a much bigger performer. coffee or the soft commodities are the most opaque of the opaque. commodities are quite a hard class to understand. the really the guests of market participant. scarlet: stabbing in the dark. good thing we have you to help us zip through all of this, manager of the bloomberg commodity index, and she will be joining us for the commodity close. meantime, let's get to a look at some top stories. twitter wants you to know it's not just a gathering place for celebrities, politicians, and journalist. bloomberg news reporting that twitter is developing a marketing campaign to show the public how to use its services

and coming up with a new feature that will organize content around live events. the obama administration wants a twitter 4% increase in fuel economy for trucks. the increase would be phased in over a decade. environmentalists had won a trucks to be even more fuel-efficient. truck makers must be in full compliance by 2027. delaware is the latest state to these marijuana laws. the governor yesterday signed a bill that makes possessing an ounce or less punishable by a $100 fine. delaware's the 20th state to legalize or at least to criminalize marijuana, and those are your top stories. there's a pile of gold in manhattan, and texas wants it back. greg abbott said in a statement that he wanted to repatriate $1 billion of gold bullion on from the federal reserve in new york. turns out it's actually about $650 million of gold -- no biggie. it's not in the new york fed, also no biggie. it's also not the property of the new york state that of the

university of texas investment management company, but governor abbott wants to keep texas gold in texas. he signed a bill to fund the building of a depository for the precious metal. alix steel is what is now. you are our commodities queen. what did you think when you saw this story that the i have been reporting on this for a wild. texas has been wanting to do this for many years. there are many factors involved. one, of course, is texas pride. it would need the only state which would own its gold not at the fed or another bank, but in its own borders. reason for there's a it. the idea is if the government any time ever wants to confiscate gold from people in the country, it cannot do that. texas can say state rights can trump federal rights, and this is not actually something that is crazy. in 1933,his

confiscating gold bars and gold coins, so this is not crazy. there's actually a reason for something like this, but i did have to laugh at one of the democratic senators who did not own for it. when he was asked why, he said, "'cause it's weird." scarlet: it's also expensive. i would imagine it's very expensive to move the gold from new york to texas, but it's not as easy as building a repository and putting it there. no, there are a lot of issues for it. that the transporter, stored. how do you do that and not be a huge moving target? and then how do you build a building secure enough to do that yet i know you said it was not stored in the fed, but i have also been to the new york fed, so i have seen how gold is stored here in new york. scarlet: what does it look like? alix: you go down to the basement. there's no elevator. no pictures. texans who want this to happen are saying, "we can totally

protect our own gold." scarlet: it might create jobs, too, for looking at how to store all this gold. alix: sure, there we go, the economic outlook of storing gold in texas. scarlet: i like how you started with texas pride playing a big role. alix: they would be the only state to do this. it's no surprise that there's a texas. party movement in the idea is that some point, maybe you would be able to pay your bills or taxes with gold through this bank, sort of like a debit card idea. scarlet: maybe you melt all the gold into jewelry and have everyone where the jewelry from new york to texas. that's what chinese people did during the boer -- during the war. alix will be back with us and about 12 minutes. in the meantime, much more coming up. bob parsons made a name for himself as founder of godaddy, but his true passion is golf,

and he thinks you should pay up for his latest pitch. ♪

scarlet: this is the "bloomberg market day." .comman who built godaddy

into a billion-dollar business hopes to do it again, but this time with golf clubs. parsons extreme golf were designed by some of the industry's top engineers. a full set will cost you $5,000 compared with about $2700 for a callaway set. earlier today, he spoke with betty liu to explain why these clubs are worth the price. areons: the reason they with $5,000 is first, they are the longest hitting iron you will find anywhere. second, when you hit them, they .eel very soft golfers have a term. it's called they feel flush. they also are incredibly forgiving. you could hit them anywhere not on the sweet and get just about the same shot that you would if they were perfect. these clubs are one-of-a-kind. betty: which one are you holding

right now? parsons: i'm holding a 9-iron. we have these tungsten weights distributed throughout. even the process of doing these morets is several times cost to us than the total golf club cost several other companies. it, yous i understand are actually giving these golf clubs away to some of the professional players on a pga tour, which is unusual and different from what other golf club companies do. they sell them to consumers first, but you are giving them away to professionals? allons: absolutely, but companies do that. in many cases, to have certain golfers play your clubs, not only do you have to give them to the player, but you have to pay them a pretty significant fee. betty: i imagine all companies do that, but are you doing that

first as a strategy before you market directly to consumers? parsons: one of the things we want to do is we want to get these clubs in the hands of , people who play golf -- they are fanatical about it. people respect what they say about equipment because we know they try these clubs, they hit them once -- you only have to hit them once or twice, and you know these things are a breed apart. betty: i imagine so once you get your hands on them. when you do give them away to some of the professional golfers, i mean, are you paying ? em to use them how much does it cost to get one of them to use your product? all depends. some of the contract am not at liberty to discuss, but most of always in the six figures. betty: i imagine. -- bloomberg story says also

quotes you as saying that you are not worried right now about profit margins. you know, these are expensive to make, but they are also sold at an expensive price. what are your margins, if you can disclose that, and are you aking a profit at all? parsons: death a moment, we've only been selling our clubs since april, so we are not profitable -- at the moment. in many ways, we have lightning in a bottle. possible we will be profitable this year, if not for sure next year. this: are you funding yourself? parsons: yeah, absolutely. i'm funding it in total. all my business career i've had one thought, and that was no partners. the best partner is no partner, especially given the eccentric .ay i run things totally, it's all me. betty: how much has it cost you so far?

parsons: how much has it cost me so far? betty: yes, how much have you ? vested parsons: i just bought a new headquarters building and paid $4 million for it. i did that. a number of equipment and so forth. i probably got about $6 million in it. was bob parsons, holding his golf clubs ahead of father's day. tell ahead, greece is on the brink. eu leaders will hold an emergency meeting on monday. greece may have to default on debt payment if there is no new deal. how many times have we heard that? we will hear it again leading up to monday. ♪

scarlet: it is noon in san francisco, 3:00 p.m. in new york, 3:00 a.m. in hong kong. many are wondering when the

bubble will burst. vladimir putin appeared at the st. petersburg international economics for and covered an array of topics with charlie charlie rose. that interview coming up. scarlet: one strategist at s&p says energy stocks have done so year that thelast group are betting on an eventual recovery. scarlet: good afternoon, everyone. friday! alix: let's get straight to a look at the markets right now. take risk off the table headed into the weekends -- that is what you are seeing right here. ito need to point out that is quadruple witching. basically, everything is expiring at every point.