we will look at the strategy behind this deal. pimm: we will hear why alan greenspan sees a bubble in the bond market. betty: attacking a tesla. did just thats and they even turned off the engine remotely. pimm: good afternoon. i am pimm fox. betty: all right, another start to the week. i am betty liu. let's look at the markets this moment. stocks are trading higher. we are near our highs of the session. what has helped the sentiment today? none other than warren buffett, right? starting off the week, starting

off the money with the big announcement that they are billionor over $30 aerospace --make precision castparts, to make aerospace parts. you can see this stock is down from at least the eight shares there,. .7% pimm: i was just going to say a lot of the movement has to do with the shares of boeing. also, caterpillar, because of more spending, the spending bill on infrastructure. pimmbetty: maybe indeed. a call on the industrial sector. let's move on to the oil market. record numbers from china on their imports of crude oil. that is why you are seeing -- brent crude is trading much higher, up 2.5%. new york crude is -- pimm: march.

betty: down about 23%. let's get a check on the bond market and see what bond traders are doing. 2.22.r yield up to one-week chart looking at the yield of the tenure, selling going on, at least in the latter part of the week. let's look at the currency market. 109. same thing with a the yen, $1.24 -- 1.24 to the dollar could commodity currencies, let's take a look and see what is going on there. australian dollar, and the new zealand dollar. new zealand dollar down almost mainly because of china curtailing purchases on commodities.

let's look at the top stories crossing bloomberg at this hour. warren buffett is made one of his biggest deals ever. his berkshire hathaway company has agreed to buy precision castparts, which makes agreement for the aerospace and energy industries. the price from a little over $37 billion in cash, 21% premium for the closing price of precision castparts on friday. another deal to tell you about this morning as stephanie ruhle reported earlier, another retailer is expanding its relationship with the national basketball association. in a multiyear deal, under armour will be the title partner of the nba draft combine and presenting partner of the youth basketball program. under armour will also team with the nba to launch a fitness -- a mobile fitness app. the deal will also let under armour put its logo on in the merchandise. remember last week's selloff in the media industry?

those chairs or is about $49 billion in market value. the drop in domestic ads and concerns about affiliate fees from cable operators triggered the selling. earlier we spoke with the greenwood capital chief investment officer walter todd, an investor in a disney as well as time warner. walter: they could force consolidations for sure. and timeoned hbo warner. these committees are testing this over the top platform and cbs has done the same thing. espn could do that in the future. we will have to see when that time comes what the dynamics and economics of that are. clearly, it could force consolidation in the industry. pimm: the dynamics today are that the shares have rebounded with the s&p 500 media index also moving higher by 1%. betty: alibaba will spend $4.6 billion for a stake in commerce group. it comes as china's biggest e-commerce operator as a network of electronic stores. alibaba's biggest deal ever.

they target deliveries as fast as two hours. chairman jack ma is beefing up retail presence after a 24% drop in market value this year, bolstering the appeal of the e-commerce operations facing slowing growth in china. and hang on, guys. apple is expected to hold the product lines early next month that product launch early next month. --buzzf-- buzzfeed reports that it is set for the week of september 7. pimm: september, put it on your calendar. the u.s. postal service delivered a $586 million loss in the third quarter. bad? no, that is smaller than the $200 billion loss -- $2 billion loss last year. the united postal service says package revenues and productivity were not enough to offset growing inflation as well as a decline in regular mail

volumes. target is removing gender labels from most of its children's departments. customers have complained about signs that designated certain toys for girls. so the toy department won't have gender labels, and neither will the betting section. gender labels will remain in the kids clothing section because of sizing and fit differences. betty: they're all going gender neutral. those are your top stories this hour. coming up at the next half hour, we will get a preview of earnings from shake shack scheduled after the close. , get this, more than 200% since the ipo in late january. pimm: after shake shack, we will talk about yogurt. he is planning to take on the coffee business details. staying with grace, as soda sales declined, we will look at how coke's track to fight back by funding controversial

research that says americans should pay more attention to exercise then to their calorie intake. betty: that is an awful meal -- workers, your -- burgers, yogurt, coffee, and top it off with coke? pimm: tell us how you really feel. betty: while prices are lapsing and productivity has weakened dramatically. yet we are twice on the precipice of the first interest rate hike in a nearly a decade. what is running to the mind of the fed? pimm: i like that, poised on the precipice. alan greenspan spent some time earlier today with tom keene and tomas him what he is more -- tom asked him what he is most concerned about. greenspan: productivity is not different from zero growth in the last six to eight quarters. the cause of that, if you look backwards from the closet of usative chain, is

capital investment has been inadequate to fund the amount of assets you need. sat in yourscher chair and said that, that we need more investment in america. all of our viewers and listeners agree with that statement. can government be the catalyst to more investment that creates more jobs that allows for greater productivity? the only catalyst effect useful is withdrawing, not moving forward. if you look underneath the data, what you see is that starting essentially with 2009, following the crisis, the gdp as we have conventionally measured it has twoided itself into r significantly different sectors. one is for assets, which have a life expectancy of more than 20 years, mainly structures, but heavy equipment --

stuff, bigger stuff. mr. greenspan: not older, bigger. is remainder of the economy not behaving significantly differently from previous -- tom: so, chairman greenspan, you wrote a trench paper identifying -- transient paper identifying certain kinds of bubbles. we have quantitative easing in europe and japan now in force. however it should we be of bubbles -- how afraid should we be of bubbles, particularly in the bond market? very much so. i think we have a pending bond market bubble. if we merely substitute the structure of equity prices and we have the price of bonds, and instead of expecting equity return, we have expected interest rate returns, that price ratio is extraordinarily unstable position.

and what ultimately will determine where it goes is to reach back and ask ourselves where's the normal interest rate ? tom: why do we see commodities implode and what is a signal for america? fundamentally what is created a problem in oil .s u.s. production we have added one million barrels a day since the last three years, because of our fracking. extraordinary insights. it is showing no signs yet of pulling back, despite the issue of much lower oil prices. what this is telling us is they are getting the costs down lower and lower, and we will have continued crude oil decline. was, again, dr.

alan greenspan. i want to bring in a correspondent with bloomberg intelligence, who agreed with some parts of what greenspan said and disagreed with others. government being a catalyst for investment, he had doubts about that but you don't. >> right. former chair greenspan says the best thing government can do is get out of the way to stimulate investment and productivity growth. i can't understand in some spheres would make that case but this is classic libertarian greenspan taking -- i can understand in some spheres he would take the case but this is classic libertarian greenspan taking that view. government plays a very important role in infrastructure investment, things like highways and bridges and energy infrastructure and ports and whatnot. there is a tremendous role for the government to potentially boost productivity by investing in these types of projects. betty: why don't they recognize

that, then? carl: there's certainly a lot of gridlock in congress that is preventing these types of infrastructure projects, which are expensive. but to say that the only thing government can do is to step out of the way i think is not really accurate. pimm: we will get to a little bit more on this whole government spending thing in just a second, but i want to understand, listening to alan greenspan speak, do you think he is describing today's economy or is he describing the economy that he grew up with or he was expressing when he was the federal reserve chief? businesses are different. there are employee-light businesses. you don't need lots of employees necessary to -- i mean, warren buffett's berkshire hathaway, how many employees does he have a corporate headquarters? betty: like, 12. [laughter] pimm: you can run in economy with a small number of people these days. carl: it is a different economy from when he was the chairman of

the fed. i heard and over the low productivity numbers. in the short run, it means that we are seeing substantial job creation in an otherwise slow-moving economy. i think this is in the reflection that businesses were averse to hire workers as we emerge from recession and we were concerned about double-dip recession and the new normal and whatnot. when they held off on having workers, we saw sky high productivity gains. a couple years of recovery. potential and has swung the other way now and businesses are increasingly confident in the outlook and are adding more workers. productivity is low just means that workers are cheap and businesses are hiring workers instead of robots. betty: the other issue about inflation, though -- tom also interviewed stanley fischer, vice chairman of the fed. very interesting take where he

focused more on inflation than employment. this is what he said about that, carl. mr. fischer: it has to do with the decline of the price of oil and materials. we are not going to be as low as we are now forever and we mean to be looking ahead as we go. betty: is it as transitory as he says it is? carl: he is highlighting a couple parts of inflation that are transitory. absolutely them anytime they look at the numbers and you do the straightforward mapping you see that will hold inflation down in the near-term. but he doesn't have a tone that makes you think that he thinks an upturn in inflation is lurking around the corner. we have some confidence that we are turning here but not saying, oh, it is just these few factors and look out once they abate, we will have big inflation problems and therefore we need to act aggressively.

this is a less hawkish vice chair that i think a lot of folks presume him to be, much more consistent with janet yellen and certainly not itching to pull the trigger in september. you saw that reflected in the fed funds teachers market as he spoke. a bit of the increase we saw after the jobs report on friday. -- basedhe was seated on the comments and others he made during the interview. betty: thank you so much, carl riccadonna, chief u.s. economist at bloomberg intelligence. pimm: still ahead, shares of shake shack are falling today as they committee prepares to report its latest -- the company prefers to report his latest results. betty: another for comity, craft -heinz, reporting after the close. ♪

pimm: welcome back to bloomberg market day. i am pimm fox. there is a shot of the empire state building freedom tower, looking south of the island of manhattan. betty: what a gorgeous weekend. let's get a check of the markets with remy. we are looking at two companies reporting after the close. sort of appropriate that since it is the noon hour we have to talk about food stocks. the first is kraft heinz, up .64% points in the present here. looking and what bloomberg intelligence is expecting, second quarter eps expected to come out at $.84 a share.

$4.7 billion in revenue. they are saying we should watch in particular sales growth as well as margins. with that said, look at the year to date for craft lines. craft times is up by about 8% or so since they began trading on july 6. this is better than the 5.4% for the s&p packaged food index. 8 buys and has 7 holds. just under the $79 mark there. searching to another. , that would be shake shack. it is down by 2.7%. this is because we are waiting for the earnings later on today. sales might have been pretty good. sales might've jumped by 54% since the past quarter because of new restaurant openings in the u.s. as well as one overseas . comparable store sales are expected to rise 9%, not as good as the first quarter, when i was

11.7%. , i don'tate -- a pop know if it is a rocket, ever since they started trading earlier this year. knew burgers could be so profitable? pimm: have you seen the new storefront to customize your burger? you don't even see the golden arches. betty: and you can customize it as many ways as you want. shake shack is always the built on its burger but mcdonald's is trying to get on the same deal. remy: in order to diversify and compete with folks like shake shack, you have to build your own burger. we were talking about the secret menu they can make, also good they need to ante up. betty: ok, well, we have a lot more ahead, and this time with talking coca-cola. can it battle its big fat problem by shifting the blame? pimm: more on why the beverage

chinese funding scientists to promote exercise rather than died. ♪

bloomberg market day. i am betty liu, here with pimm fox. pimm: cvs help us settling allegations that several rhode island pharmacy locations filled fortune invalid prescriptions for painkillers. the u.s.ttee will pay government $450,000 to resolve the two-year investigation. cvs has denied any wrongdoing. is aounder of chobani major player in your, we know that. we know that. now he is turning his focus to copy. "the new york times" reports that he has taken a stake in coffee roasters. don't expect to see him drinking it very often. he is a tea maniac who travels

with his own teabags. fewcommittee says it has dozen wholesale customers and is grown 40% over the last year. americans are the biggest consumers of coffee in the world. betty: i didn't know that, but i'm completely not surprised. pimm: growing 10% a year and consumption. betty: before you move on, we were just talking about make your own -- what is it, customize -- pimm: make your own burger and mcdonald's. guys: one of our tech crew went down to mcdonald's right around the corner to make his own burger. ooh, sorry. pimm: even looks like it is -- >> special sauce, onions. going to be a real treat. betty: [laughter] ok, there you go. matt, was it really crowded there? matt: terra-cotta.

-- very crowded. pimm: they have even taken a cue from the packaging and shake shack. betty: much more handcrafted. pimm: at least it looks that way. speaking of eating, you may be thinking about coca-cola to go with it. coca-cola is trying to shake up the debate over obesity. the beverage giant is reportedly diet studiesnding to deflect criticism of its products. coca-cola is backing scientists who emphasize more & -- exercise and less concern over cutting calories. betty: it comes amid concerns about excess sugar and artificial sweeteners, as well as decade-long decline in soda sales. coke, pepsi, and dr pepper lost market share last year. no fats in soda is but we are talking about overall diet here. reasonse of the coca-cola has been funding

initiatives that are not in the carbonated beverage space. own a fresh juice company. betty: this is the organization who did the study and dr. hill is the head of this organization from the university of colorado. they did not disclose right away that some of their funding comes from coca-cola. their website is registered by coca-cola. and administered by the company good but they did not mention this initially and that has raised a lot of suspicion. pimm: i would like a little more transparency. i want to know what is on the label. betty: that is it for you. pimm: see you this afternoon. betty: maybe grab a burger there. by the way, someone who loves a burger is warren buffett. we will talk about his "coming up.

betty: welcome back to bloomberg market day. i am betty liu. now for top stories causing the bloomberg terminal this hour.

russia's economy sees the biggest contraction since 2009. gdp dropped 4.6% in the second quarter. a renewed slide in commodity prices is again hammering the ruble and checking a country that relies on oil and gas for about half of its budget revenue. morgan stanley says congress will probably come to the aid of puerto rico. analysts think congress will island's private corporations access to bankruptcy and establish a fiscal control board. the public finance corporation missed the payment earlier this month. it is struggling with a $72 billion debt the government says is unbearable. donald trump says he won't apologize for comments he made about fox news anchor megan kelly -- megyn kelly. he is under fire for how he described her performance at the debate on thursday. he called into sunday talk shows

to deny he said anything wrong and says he has no problem with women. tremendous.omen are i've such an amazing relationship with women in business. they are amazing executives from they are killers. when i say that about a man, it is very sad. if you say that about a man, it is considered a great honor. it is also considered an honor when you say that about a woman. betty: trump apparently is in good standing with fox news. he earlier sent out a tweet saying that he spoke with network chief roger ailes. just called me. he is a great guy and assured me ump'will be treated fairly on fox news." relative who was the only photographer allowed to take informal pictures of the royal family and the guests upon their return to buckingham palace after the 1981 wedding. the auction is set for september 24. that is a look at some of the top stories at this hour. coming up the next half hour, he

will have the latest on greece as prime minister alexis tsipras tries to reach a deal in the next on the contrary's massive bailout plan. hillary clinton is going to announce a new plan to help make college more affordable for students in this country. she's going to unveil that in about an hour. we will have those details coming up. reporting,been warren buffett has made one of his career. is going hathaway to buy the aerospace engineering agreement company division $437.2 billion, taking advantage of the severely weakened stock price. with us on the phone is an author who has met warren buffett numerous times and interviewed many of the ceo's for his latest book, which predicted that he would emphasize deals just like that, big purchases of an entire company. lawrence cunningham joins us on the phone from east hampton. and a bloomberg news reporter

who covered this deal for us. thanks for joining us. just the the stage for facts on this deal. how much of a premium did buffett pay for this? friday'shan 20%>> closing price. it depends. some people think it is expensive relative to the stock price but like you said, it is pretty depressed. if you look at -- compared to other deals, mergers all over the place. medium valuation is about 19 times earnings. more expensive than a typical buffett deal. the give a little bit to his investors and a little to his own. larry, do you believe investors in berkshire hathaway will be happy with the deal? lawrence: no question about it. another point to make is that it is all cash. cp might want to

buy stock for tax reasons so it wouldn't be taxable to them. berkshire doesn't like to do that. warren made a couple mistakes paying stock, although berkshires and impressive company. we had to probably make up for that by paying a little bit extra in cash. it is definitely worth it, are spot on kind of berkshire acquisition. warren has done this 70 or 80 times now. yes then good at picking companies that fit into the berkshire model. betty: he has. this is a public company, not a private one. the company's yes but before had been private, although burlington was a big public company. how does this fit into the portfolio at berkshire? lawrence: they have preferred private companies. clayton holmes was public, dairy queen was public. they have done that kind of deal before.

it is a little bit different. privately negotiated deals are often better. but the company itself is well-positioned in its industry. it has substantial market leadership that controls -- substantially influences its pricing power. it is very strong competitive advantages. great managerial strength. they found a large number of acquisitions over the years that have proven very savvy. if it's right in at berkshire and will add substantially to berkshire going forward. precision,would which seem to be doing very well -- revenue has grown fivefold the last 13 years, the ceo seems to have been very well at the helm for the last 13 years. why would they want to sell now? sonali: right now they have a large exposure to the energy market and prices have been really depressed. they are trading at about 241 in december. they have plunged and people are

thinking with berkshire they can weather the storm a little better. this way they can make the investments in energy, and as you know, everybody is looking at more investments they need to make. public shareholders might not be so privy. there is one more thing i want to point out. from a year ago, the premium that buffett is offering is only about two dollars more than where the stock was trading a year ago. shareholders still have to approve the deal and they might not think this is enough. betty: they may not. larry, what do you make of the fact that it seems like it was todd combs who brought this deal to buffett? lawrence: it is a strong signal of berkshire's strength. so many people believe that warren is the only magic bullet at berkshire. i think in this case and many others i've been documenting over the years indicate it is a real institution. deals come to berkshire not just but todd andrren ted and any number of features of the company.

the fact that the deal came to berkshire this way just affirmed the idea that berkshire is an institution, not just a single man. betty: i can't help but notice, larry, that this deal comes a few days after berkshire hathaway reported that they missed wall street estimates. the stock is down over 5% when other indexes are up. and they are suffering in their insurance units in particular with geico.. lawrence: this is echoing the point that sonali just made. berkshire and its subsidiaries looked out over many, many years, i not just a couple or quarter years. they have the capital and patience to look out over a long periods of time. on any given quarter, there were a whole bunch of reporters that would disappoint but if you look over 10, 20, 50 years, you see tremendous strength in progress

all along. do we know how the precision is going to be integrated into the berkshire fold -- lawrence: probably like anything else, the hands off approach. they have the secret sauce and a business model is very strong. the basic principle at berkshire is to make acquisition, leave it the way it is. this would be unlike when berkshire has partnered with 3g to purchase heinz and so on. betty: hang on, larry. sonali, you answer that, too. sonali: no, i absolutely agree. people of mark donegan, the ceo. -- people love mark donegan, the ceo. he has done more than 30 deals because he has been ceo and people will want to see him deploy capital from berkshire properly. he continues to invest and grow the company.

$20 billion of that income coming in to berkshire every year. how are we going to continue to use that without making megadeals? you so much. larry cunningham, author of "berkshire beyond buffett," joining us could we will talk about the tech rally in europe and why asian markets ended on a higher note. ♪

welcome back to the bloomberg market day. i am betty liu. let's get to ramy inocencio for the big stories of the day. the markets, nice rebound today. ramy: that is exactly what is

happening, betty. a lot of investors should be happy with what is happening. the s&p 500 is up by 1.2%. the dow is up the most, 1.3%. nasdaq is up by 1%. we are looking at session highs for the day. if we keep this on track, the dow -- actually, all three of them will be breaking losing streaks we saw in the past two days for the s&p and the nasdaq and the past seven days for the dow. let's go into my bloomberg terminal and take a look at the reader -- leaders and the laggards. energy and materials are the biggest gainers. .nergy is up by more than 2% utilities on the flipside, the only laggard, down but not by much. only a 10th of a percent there. let's go into individual stocks. one of them is transocean. transocean is up by 5% today and this rise is in part two analyst

upgrades from jefferies from underperform to a whole. they are raising the target price to $13 a share. year-to-date, down 24%. they are not the only riser, though. other energy stocks include consol energy, chesapeake, and diamond. diamond is up by 8.6%. console is up by just a little more than 6%. in addition, we are looking at the industrial sector. the industrial sector is also up and looking at some of the biggest winners, precision .astparts up 19.3% this is off of the acquisition announcement from berkshire hathaway to acquire it for $37 billion, $235 per share. it is a huge maker of industrial metal parts. , power plants -- excuse me, got something in my throat. that is a look at what is

happening on the markets. back to you. betty: all right, thank you, ramy inocencio. a look at the european market closed it here is bloomberg's mark barton from london. chalkingopean stocks up two days of losses with every industry group finishing the monday session-the mining companies are shrugging off disappointing trade. welcome these are following crude oil's gyrations lower -- oil companies are following crude oil's gyrations lower. what a day, from last monday come when the s&p fell, its biggest one-day decline ever. look at the big gainers. they hope greases government will conclude talks with creditors -- greece's government will conclude talks with creditors tomorrow. funds will be dispersed to the european central bank by the

20th of august. they has group fell by 59% last week. -- great step you for you. market caps on for greece's banks is 5 billion euros in 2007. industry,banking greece's biggest gambling company, shares up by 8% today. fridayian lender on after the market close, the lender released better-than-expected results. shares up by three white 5%. -- 3.5%. i want to show you an oil the u.k.-listed company down by 3.3%. back to you in new york. let's move over to asia now. the shanghai composite rallying on a potential mega merger in the shipping world and economics to minister -- economic stimulus. this report from hong kong. >> chinese stocks rallied on

monday, posting the biggest gain in a month as a potential industryin the lending sparks a flurry of buying. it goes on stagnation that the china shipping group and costco would merge. the combination with create a global powerhouse to rival the biggest ocean freight lines. china'ser would signify latest major overhaul of its state-owned enterprises. ongoing pushng's to boost efficiency and create a global industrial giant. betty: now a look at the top stories crossing our terminal this summer. president obama using media interviews done before he went on vacation to build support for the iranian nuclear deal i had a vain effort in congress 2-d reality. he told an online -- to derail a good he told an online news site do ithere was no way to

without sections that would make life harder for people there could he also spoke to npr. they will puta: forth organs that after a few --utes can be shown arguments that after a few minutes can be shown as illogical or based on the wrong them, and then you ask what is your alternative, and there is deafening silence. betty: the u.s. senate will begin debate on the deal just nine days before congress must vote on a great the last 72 hours has been as humans for greece's coast guard. people are fleeing conflict in syria and afghanistan. refugees are trying to make the islands several greek -- make their way to several greek islands. authorities say that the pace of the new arrivals is increasing. a victory for argentina over the long battle over defaulted debt.

in 2001, argentina defaulted on a record $95 billion of sovereign debt. the company has been fighting against by investors to recover what they are owed. that is a look at some of the top stories crossing the terminal. coming up on bloomberg market day, we will hear from security researchers were able to hack a tesla model s, and remotely take control of its many functions. we will show you what they did with the information. ♪

betty: pretty but cloudy, fair over the san francisco bridge. welcome back to bloomberg "market day." i am that you you could the tesla model s is one of the most secure, apparently, but after two years of trying, researchers were able to hack into a tesla. they told bloomberg about their findings from a conference in vegas. >> my name is mark rogers. i am a principal security researcher and a hacker in my spare time. ofi'm the founder and cto lookout. i'm here because we hacked tesla to build safer cars in the future.

elon musk is a real visionary. we wanted to look at his car and see how good really was it, like a benchmark for the industry. were there any issues? if so, what were they? ed a lot of things -- the iphone, google glass. but for tesla, it took a little time. >> it wasn't the case of us singly hacking the car. we had to hack one system and gathered into formation and gather -- use that to hack into the system and gather more information and eventually you get full control over the car. >> in the case of this car, you can do everything with attachment that you and i can do. you can honk the one, flash the headlights, unlock and lock the car, switch the car off. >> the biggest take away is that cars are computers. your car has more in common with your laptop than it does with a model t.

with that in mind you have to think about several security issues -- cyber security issues. d all the get hacke time. i am a hacker. fuller abilities will be found. is the soft -- vulnerabilities will be found. this is the software update that we worked with tesla, we identified as part of our research. >> all you have to do is click "install now" in your car will be hacked. >> by the time we give our talk, willast majority of teslas already be safe. betty: it is possible, but they say it is remarkable hard to do this. props to tesla for making it so difficult. almost any modern car that is technologically advanced enough

can be hacked. the fact that it took them two years to do it and they had to go in through multiple systems is a testament to the security that tesla has built into their car. betty: and jeff con -- tesla was dominant as an auto company, but some of the other auto companies -- matt: i talked to people from ford and they were heading down. i'm sure general motors also, the cto down there. it is pretty much the place to be now for businesses that are concerned about cyber security. and most of the biggest ones are, obviously. especially carmakers, because if you -- if computers are controlling steering, breaking, acceleration, ignition, you can control a car if you can hack into those systems. betty: and journalists keep track to do it and publish reports on it.

that will be a big win for these auto companies. , you and i love talking about -- matt: even more exciting. betty: elon musk went for a lock on his vacation during the weekend. no ordinary stroll. they walked on the wing of a flying biplane. matt: his wife did, too? betty: yes. his caption on his instagram photo was " what could go wrong?" nothing. is fairly safely if they let anyone do it. it looks awesome. betty: looks very spider-man there. matt: i would definitely want to do that. betty: i would pass. if i was an investor in tesla, what would i say about this, that might ceo is wing walking on airplanes? matt: this elon musk goes --

betty: daredevil, risk taker. have talked to investors who say that elon musk is a big part of the value of that company and that is why they buy into it. betty: matt, i will see you the next hour. matt: i will be joining you after this break. betty: the latest on the talks in greece, where negotiators are racing to finish a bailout deal which would make as much as $93 billion available to greece. ♪

alix: betty: -- betty: it is

10:00 a.m. in san francisco. buffett in a deal for more than $37 billion in cash. betty: we will take a closer look at how exactly is clinton's college tuition plan will work. matt: and facing a new deadline in bailout talks. we will get the very latest from hans nichols. ♪ betty: i'm betty liu. militantly andot for mark crumpton today.