♪ afternoon, here is what we watching right now. for two more is meetings a voting member of the open market committee, joining us for an exclusive interview. the ceo of j.p. morgan chase says that too much regulation could have unintended consequences for the big banks. and the hunt for a mexican drug after thentinues escape convict narrowly as being captured this weekend. first let's go over to the market desk for julie hyman has the latest. julie: deutsche bank, we were just talking about headlines if you eat moments ago. there was an error that occurred over the summer in deutsche bank

in that apparently a junior trader their paid $6 million to a hedge fund client. even though the money was given back very graciously, apparently, by the hedge fund, we are still seeing some concern being expressed. although the stock is still higher by the day. shares have a cover to some extent. the still raises some questions ofut the internal controls the bank. we will keep monitoring this situation a bloomberg, which is also working on confirming these headlines from "the financial times." stocks right now, not a lot of movement across the board. it looks like the ninth day out of the last 10 to have a less them 1% move in the major averages. more companies come out and report earnings this week, but right now we are just not seeing a lot of movement. it has sort of been more single stocks over individual moving

reports. take a look at the vic's as well. as well. the 20 mark, take a look, it had that long streak over the selloff, picking up in short-term income, this is not something that we usually talk about. we are seeing surging rates on this one to the highest level in about two years as we approach the so-called that ceiling showdown. there are concerns about repayment of the debt as we get closer to it. this is where it is being reflected in the short-term treasury market. taking a look at the longer term, the 10-year note is unchanged right now. 2.3% as we await some comments. thank you, julie. now with a check on the first word news this afternoon.

>> good afternoon, everyone. we are looking first at eastern europe, where thousands of refugees are streaming into croatia. the country opened its border with serbia. neither croatia nor slovenia were allowed to cross into the territory. in addition, back in the u.s., president obama hosted a roundtable with ceo's of major climates to discuss change today. ceos from intel, johnson & johnson, and hershey. they say companies are pledging their support. take a listen. president obama: they operate in all 50 states. they got about 9 million employees collectively.

five dollar trillion in market cap. -- $5 trillion in market cap. some of the most extraordinary businesses we have. >> the goal is to stabilize greenhouse gas emissions at the climate conference. 2100 marsh -- worshipers tight in saudi arabia last month, tripling the official government that sold during the annual pilgrimage to mecca. david, on over to you. david: thank you so much. so interesting to see how these companies are lining up ahead of that climate conference in paris, as you mentioned. dimon tells jamie

us why washington is not listening to wall street. ♪

♪ back to theme bloomberg market day. the week is starting off with some disappointing bank earnings and a slowdown in china. what could that mean for the fed plan to hike rates in october? we sit down with john williams in san francisco. >> john williams is seen as one of the centrist leaders of the open market committee and his word carries a lot of weight in

washington. thank you for joining us today. , giventart right with it the data that you have seen, is there any reason to think that a rate increase on october 28 as possible? or is october really off the table? >> one of the principles i follow is that i do a lot of analysis, thinking with my team in san francisco. with what we get from our colleagues around us -- around the federal reserve, decisions take place at the meeting and when i get in the meeting i share my views and what i have learned and i also listen to my colleagues and we try to get together to come to a consensus decision. what it will be could really be driven by those conversations and all the factors weighed in. michael: what is john williams going to tell them about his view? john: weave seen huge progress on the job market.

unemployment is down to close to what i think of as full employment. we understand why that is happening, mainly due to the strong dollar and the decline in oil prices. i see an economy strengthening out of the mandate. still, there are risks and uncertainties there. the important thing to think about it is that it is not just rates, we are going to need an accommodating policy for another few years. even when we start the process of raising rates, and still going to be the case that monetary conditions are supportive of continued growth. michael: do you think -- would you vote, put it that way, for interest rate increase on the 28th? >> i'm not going to speculate on my views for that meeting. we start the process of deep

dive briefings tomorrow. we will get a lot of materials. i'm going to listen to my colleagues and not decide on that today. the 10-year note deal was 2.2%. if you were to vote for an increase in october, it would shock the markets. is the fed willing to do that? >> i think we need to focus on economic fundamentals, where the economy is. and where we see that economy going over the next couple of years. consideration is that it takes a year or two for monetary policy actions to have their full effect on the economy. we always have to be looking to the front window, not back in the rearview mirror. interesting that you know that. some say that this is part of the long invariable lag in monetary policy taking effect from the fed decision to begin tapering back in the middle of 2013.

mr. williams: growth in my forecast continues to the 2% or above that, i still expect job gains with unemployment to come down below 5% late next year or early this year. i think we are still on a good trajectory. i think it is a healthy sign that the pace of growth is slowing a bit. if we were still adding jobs we would be in danger of overshooting the mark. my view is that the economy is in a good trajectory and that the slowdown is because of the strengthening of the dollar and other factors. so, i am not so worried about the slowdown. it is again supportive of them -- continued improvement. there is a suggestion of 9/10 of 1% growth for the third quarter. is that too low? do you need to see some entire? mr. williams: my mantra on data is not to get caught up in the

month-to-month quarter to quarter movements. there's a lot of volatity there. and of course there is some payback in the third quarter. my view is that growth in the second half of this year will be .round 2% on an annual rate monetary policy takes a year or two to have affect. you don't want to get caught up in this month or this quarter. stay focused on the outlook over the next year or two. has your forecast come down with the slowing growth this fall? mr. williams: my forecast in terms of the unemployment rate has come down of the bit. we have seen unemployment come down quicker than expected. other factors have continued to improve at a healthy clip. my view on gdp growth for next year is for growth to be around two to 2.5% and my view is that inflation will come back to 2% over the next couple of years. that has not changed. obviously near-term inflation

has been held down by the strength of the dollar. david: where does -- michael: where does that lead you in terms of raising rates by the end of this year? as you forecast? my williams: again, this is own view, but i expect to see unemployment get down to about 5% and dipped below that later this year. i expect to see continuing signs that inflation is stabilized and moving back towards 2%. in that context, zero interest rates, it is an extraordinary combination that we have in place and it is not necessary to continue to support growth. i see the time to start raising rates from my perspective in the future, but we will obviously listen to all the information i hear from my colleagues in my contacts in the community. michael: you bring up an interesting point that some people have raised, suggesting that there is a debate at the fomc as to whether or not zero interest rates are still

stimulating the economy or if they are worth the trade-off for savers, mal investment, possible market bubbles. michael: i think the zero interest rates have been a net positive for growth and job creation. i been a big supporter of our various measures. as the economy gets stronger and has gotten stronger we don't really need all of that accommodation going forward. i think that there are some costs to having very low interest rates. they have been dominated by the benefits to the economy. but as we get the economy further and further along, back to full strength, trade-offs suggest raising rates and normalizing rates gradually. michael: have we crossed the line with the cost-benefit ratio? mr. williams: i definitely see the benefits as still on the positive side. in fact, what i am kind of concerned about is that we already have an unemployment rate in my forecast that will be

well below that into 2017, running with what i would think would be a high-pressure economy, which is good. i think that will bring people from the sidelines back into the labor market. it will help to increase wage growth and bring back inflation, but we don't want to do that too long. we don't want to run a high pressure economy forever. in the 2000 possibly saw that when you get an unsustainable economy eventually things go wrong, so we want to avoid that too. michael: janet yellen and stanley fixture -- stanley fischer have a -- have said that they would expect rates to rise by the end of the year. last week they said that they don't want a rate increase in the near future. does the chair have some sort of mutiny or rebellion on her hands? michael: absolutely not. speaking for myself, what we see in the meetings is enormous respect for janet yellen as the chair. as we all are, she is weighing

the various countervailing influences on the economy. domestically it's doing great. here in san francisco this economy is booming like never before. many parts of the country are like that. there are global factors that are slowdown in growth abroad. commodity price declines that have an impact on the u.s. economy and there are obviously risks to further slowdowns abroad. we have to weigh these factors. there are strong arguments on both sides and we must come to the best decision that we can knowing that in six weeks we will have to do all of that analysis again and have another opportunity to come to a decision. do you have aael: credibility problem if they don't raise rates? we're making decisions based on incoming information and overtly the data is all the map. we have indicators that things

are strong, indicators from abroad that things are slow. we have to read that data, analyze it, come to the best decision. it is one of those things that i described as a close call in my own view about whether we should start the process of raising rates or delay it further. arguments on both sides have a lot of merit. when you are at a place when it is a close call, that person will have perspectives on a different side. david: here's a comment from an analyst, i will name them. globes around the appeared quite frustrated over their inability to anticipate the fomc interest rate plans and paths and in turn make their own sensible decisions. how do you react? michael: we are completely driven by the dual mandate -- mr. williams: we are completely trivial by the dual mandate objectives. we described that in our long-term goals and strategy statement. that is what is driving our decision.

of course people in the markets would love to know -- are you going to do this or that? we did feed that expectation during the time of forward guidance, we are not likely to raise rates for two years. i think that that was appropriate for guidance back then. fever in such a weak economy that needed more monetary stimulus. now that the economy is stronger we will not be giving all of that guidance telling people what to do. and there is frustration because when you are data dependent people are saying that we don't know what you are going to do, but it will be driven by the progress that we made, the goals and outlooks. michael: there is more than a little bit of frustration, some say, that the fed is contributing to the slowdown, because when they don't know what's going to happen, they don't invest. michael: -- mr. williams: we are

not adding or taking volatility out of the markets. uncertainty is driven by the uncertainty in the economy that is always there. i understand the desire to have greater certainty about the economy. my goal is that we neither add to it more somehow try to make it go away when the uncertainty out there is about the fundamentals of the u.s. economy and global outlook. we have tried pretty hard to be more transparent. we have our quarterly projections to show the forecast of unemployment inflation and interest rates. i think there is a lot of information there about where the committee participants view where things are going. i obviously think that people should read the chairs speeches, she does a fantastic job looking at our strategy and how we are responding to data and outlook. michael: people were confused coming out of the last fomc meeting because in those projections the committee said

unemployment will come down more, but we are not going to see faster inflation because of it. the rate of inflation is going to slow over the next couple of years, raising the question of -- first of all, does the phillips curve model that you , is itmake decisions broken? and why raise rates if inflation is not a threat? -- mr. williams: remember, the question is what will inflation unemployment output look like? everyone has already gone down the path that they think will best achieve their goals. unemployment comes down as people have projected. it's not the case that that projection is happening absent any monetary policy view. if we were to hold interest rates at zero for a couple of more years, some situations we thosehem very low,

projections would show us overshooting the mark and creating a greater risk for the economy. is that we are in a very good place. the u.s. economy is strong. we have had good momentum going forward with significant headwinds from abroad. with the balance we can start to remove monetary accommodation over the next few years. gradually. basically getting this kind of goldilocks economy that is not too hot or not too cold. raising rates year-over-year, 3/10 of 1% right now, the lowest previous rate hikes began at 1.6% in 1986. is there some new paradigm it work? mr. williams: no, we understand why overall inflation is low. core measures of inflation have been running at 1.25% and my preferred measure, the best approach to looking at underlying inflation, is about 1.7%. underlying inflation is that

nearly as low as the overall and when you look at those measures, one point 3%, 1.7%, that's not inconsistent with past tightening. michael: the natural or neutral interest rate is the level of which the economy grows its potential without triggering an acceleration of inflation. you recently co-authored a paper that said the natural rate is now lower than it has been and shows no sign of covering. this was an important factor in thinking about monetary policy over the next couple of years. a number of economists, academic and in the reserve system, indicates that the normal or is where it was 20 years ago. we don't understand all the factors that go into it but it does mean the new normal is likely to be lower than it was in the past. partly due to slower growth in demographics. the argument in the end for the

fed moving back to a lower federal funds rate when we are done with the tightening cycle, it also argues in my view for this gradual pace of removing accommodations. there are significant headwinds pushing down the national rate of interest these days. that again plays into my view that we should have a slow path of policy normalization. one of the arguments in starting the process is that if you wait longer you will have to have a sharper, steeper, quicker moved to rates. but if it is much lower, why the rush? my own view is that this is not a rush. we have been effectively lowers since 2008. i don't feel we are at all rushing. it is true that within -- with a lower rate of interest we will not likely have to raise rates very rapidly.

at the same time, we don't want to get behind the curve. we know that from monetary history in other countries when you wait too long you then have to make up for lost time and that can be disruptive. it can be damaging to the expansion. again, i think we want to get this right and it probably means in my view moving a little bit earlier and more gradually than waiting longer and then moving more rapidly. i think that those are some of the choices we face. what do you think of the talk that the fed may be behind the curve or missing the fact that the economy slowed so much that they will have to do additional stimulus? mr. williams: [laughter] an interesting time for monetary policy. what i hear her out in the district, talking to members of the community who are obviously reading the news reports, we are definitely getting lots of helpful feedback and input from both sides. i think that that shows that we kind of got it right.

there are concerns that we are a little bit behind the curve and that we should wait longer. i think that those of the concerns we are trying to way. given the uncertainty of the economic outlook, might own views are in the middle there. say that we raise interest rates over the next few months and start moving gradually and the economic information turns more negative? we can clearly lower rates again. if necessary we can use the other tools. based on the progress we have made, moving in one direction and finding out if it is moving in the other direction, i have no doubt about her ability to do that. a lot of fed officials have opened the kimono to tell us where the ducks are. quit you think it is? i seelliams: in my view it gradually moving rates up over the next few years. not exactly that starts is

to me as important as that we are doing that in a position where the economy is strong and has good momentum. always: john williams, good to see you. thank you so much for being with us here on bloomberg. back to you in new york. david: that was mike mckee with federal reserve bank president of san francisco, john williams. in ays that the economy is good place but there are significant headwinds from abroad. press him oning to whether an october rise is on the table. he declined to say, saying he wanted to get it just right. still ahead, another exclusive with jamie dimon. ♪

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at the news next school we have first world news. >> first u.s. presidential politics. despite multiple media reports to the contrary, vice president -- biden is still on earth undecided about running for president. he is expected to make an announcement before the end of this week. the timing would put the decision just before a major democratic political bid in iowa. organizers there said that he can be accommodated if he decides to join the race. top six advertisers may not be getting their money's worth in the republican race. turns out that an independent political action committee has spent $18 billion on ads but three of the top candidates haven't had super pac support on tv. democrats investigating the deadly attacks in benghazi have issued a report today that they say debunks the unsubstantiated claims by republicans about

former secretary of state hillary clinton. she testifies before the panel on thursday. it is a widely anticipated public hearing that could make or break the credibility of the 17-month-old inquiry. texas is cutting medicaid funding for planned parenthood clinics. health officials informed them in a letter released today. it comes after the release of videos purportedly showing officials discussing fetal tissue sales. planned parenthood has denied the accusations and dismissed the videos is heavily edited. a u.s. appeals court has upheld key provisions of two gun-control laws passed after the sandy hook elementary school massacre in 2012. the law bans the possession of semi-automatic weapons and large capacity magazines in new york and connecticut. that is a look at our first news. over to david. hillary clinton has big

plans to reform wall street, including doubling down on. -- on dodd frank. stephanie ruhle set down with jamie dimon and asked with -- asked whether wall street is listening to washington or if their relationship is too adversarial jamie dimon: they are exhausted. they are trying to implement the job they have been given by legislators. privately many of them know that there are too many regulators and they want to make it similar, and over time it might happen, but not in the next couple of years. schmit e: privately, vately. it won't happen in this environment. it's possible that people will look back to simplify, strengthen, improve, and things that would work. those are beautiful

words. is any of it actually happening? mr. dimon: no. stephanie: last week when i sat down with donald trump he specifically said that he really likes jamie dimon. but when he did not understand was why people like you and settle.nk ceo's, and is sos that the hit list ridiculous, why doesn't the guy like jamie dimon, tough as wels, fight back? mr. dimon: have a lot of constituencies. i have 250,000 employees. we bank in a hundred 50,000 -- 150 company -- countries around the world. it is impossible for a bank to fight the united states government. what you try to do is minimize the damage as best you can. the alternative would be to go to court and fight and drag through the mud for years and you will still pay the money. so, donald trump has

never been in your seat? mr. dimon: maybe he would have done a better job in my seat, i don't know. but i'm not going to jeopardize my company and at the end of the day, banks are -- if the governments don't -- we have to operate under the law of the land, which we have always done around the world. we cannot afford to take indictments of certain sorts. you can damage the company so might want to settle, but please listen to us. ien i tapped on the table told eric, you are my judge and my jury. i have no choice. before we pass judgment, listen to what i have to say. states, schools, hospitals, i talked with 700 billion. 600 billion. we did a lot. i don't know how they came to the numbers. i remembertephanie: you watching in that -- walking

in that day. does it put you in a position of becoming a whipping boy? give me another? twice as big? i believe proportionality in fairness to you guys. i'm trying to do the right thing for my company. me now to talk about that exclusive interview, stephanie ruhle. i was struck by what he said forcefully, that it is impossible to go up against the u.s. government and win. david: -- stephanie: that is the position he is in. remember, in the past he has come out swinging, saying that he is trying to operate his bank with the regulatory foot on his that oned he realizes of the regulators are saying, privately, amongst other thought leaders they are saying -- this sucks, we cannot seem to get anything done.

that's what's depressing. all this regulation, a lot of it has simply been talked about and proposed. seeing it actually implemented. if we have another crisis caused theiquidity in the market, shadow banking system -- we talked a lot about regulation and the threat of it, but what was put in place? not much. you asked him if you asked him if he would ever consider a career in politics. mr. dimon: he said he would not run for president, but the things we were talking about were not necessarily the weeds of what was happening inside the bank. given the scope that he sees, i still think he could. >> the fed, reducing uncertainty

in a think it could be a good thing, not a bad thing. stephanie: jamie dimon, clearly saying great. just toow, raise rates wait until four you know. a truly strong ceo is not going to be affected. if they had shares decision at -- said you have to perform, when he talks about these clients he was talking about june -- date -- talking a jpmorgan. david: all right, thank you very much, stephanie.

coming up in the next 20 minutes, the hunt for mexico's the tory is drug kingpin, el chapo, continues. next.ghts, coming on taking to the toronto stock exchange to talk more about kennedy -- canadian elections.

welcome back to "the bloomberg market day." time for the bloomberg is this flash, where we look at the biggest stories in the news right now. halliburton covering 2000 jobs in september, maybe representing that lowest point for his north american profit margins as

customer start fresh. they reported a third-quarter loss of $54 million. becoming one of the top lieutenants for jaclyn reason, leaving the rival unit after jack dorsey was named from the chief executive officer at twitter. fraud is cracking down on on its website. the company is suing more than 1000 people for writing bogus reviews. amazon says the writers are liable for breach of contract because they violated their terms of service. you how is get more business news at bloomberg.com. let's get back to the markets desk for the latest on biotech. hillary clinton once again waiting in. >> the companies themselves are starting to come out with

earnings. starting the valiant pharmaceuticals, technically not a biotech specialty, but nonetheless they have been treating in tandem with the poster child for these higher drug prices at these acquired companies. raising prices on the drugs that the companies manufacture. the companies come out with earnings that beat estimates, saying that they may spin off on neurology we might see these pricing practices more prevalent. they say they will focus less on acquisition than on old treatments and raising the prices. we are seeing those shares fall by 10% today. they haven't fighting back and defending themselves pretty vigorously. i wanted to look more probably at the biotech index. despite what valiant saying, we have seen it hold up relatively well. one hour ago we saw a drop of 1.2%. the were reports of drug pricing

campaign events. one of the other stocks that could be weighing on it is this older treatment that requires blood transfusion but should not be required again after the musician -- initial course of treatment. years later the company says the earliers on generation of the treatments. it does not necessarily have the same issues. callan analysts saying that earnings should be pretty good. the report says the political rhetoric may be keeping investors that day, we think the third-quarter earnings season to highlight the risk of not owning this sector during a time a time of fundamental growth and innovation.

folks at bloomberg intelligence saying that the earnings season could distract from these issues about drug pricing. takes fromhe top those companies that may be the estimate for sales growth. you can see that it is a mix of big cap, pharmaceuticals, biotech, and lesser-known names. they have eight picks overall. i think it is a mixture of big cap and smaller cap. we should really get into these in earnest over the next couple of weeks. we will see these and how they look and if they do distract from the ongoing debate over drug prices. much, julie.you so mexican authorities were hot on thetrail of el chapo, fugitive drug cartel leader that escaped prison in july. here with the latest is a reporter for bloomberg in mexico

city. great to have you with us. get us up to speed. i guess mexican authorities tracked him, but what happened after that? victor: according to federal and state forces there is a joint operation between the mexican marines, navy special forces, and u.s. drug enforcement agencies to capture el chapo, continuing in this hour in an area known as the golden triangle. as you mentioned, they nearly had him last week. authorities said that he was injured in the leg and face but was able to escape. that hea man that knows is an expert at escaping from authorities. david: as we have seen for sure. what is that terrain like, victor? this is a rugged area

known as a lot of -- lawless region where they operate with impunity. quite similar to the mountainous regions in afghanistan. forcesember 2001 special attempted to capture osama bin laden there. authorities in this mexican operation are facing the same challenge. worrying about a local population that is sympathetic, if possible they are being paid to protect them. in addition to this cartel that he is the head of, he is very well armed. they have weapons that can shoot down aircraft, like we saw last year when a mexican military helicopter came down in the region. david: stepping back a little bit, the mexican president caught a lot of heat when el chapo managed to escape. how is all of this playing out in light of what happened over the weekend? has been a really bad

couple of months for the mexican president, he is asking to bury the needle on this operation. david: maybe you could talk a little bit about the role that el chapo plays written large. we are obviously aware of the drug war in mexico. how big of a role does he play? he is the massive figure, the most important figure in mexican drug cartels. a figure the controls most of the cartels in the country. andhis point he is backing our sources are telling us that we aree confident that finally going to get it but it

is very tough to say what is going to happen. can tell you that hopes are very high right now. higher they -- higher than they have been in weeks. ever since he escaped. and i never and i wonder if you her heard anything to mexico resisted extradition for trial and the u.s. authorities saying anything out of the second search is underway? there is a lot of talk about the u.s. government getting directly involved with drones flying over mexican airspace trying to locate a chapo. we have to admit, the u.s. and thatt was really

one felt like -- victor: he's caught and he has a one-way ticket to the u.s., for sure. david: these very slippery things like he is able to escape, are people confident they think here is or is it possible he's somewhere else in the country? victor: most of the information we are getting is telling us is in durango. where he has area -- this is one of his last strongholds. he might be staying in this part of the mountain. there is a lot of resistance. he might be hiding over there. net -- you can call it a

that is coming over el chapo every hour and every minute. we might be getting something over there. victor, thank you very much, really appreciate it. and we will hear highlights from michael morris, in conversation with emily chain. ♪

mauritz is known for having the lucrative foresight to have invested in google, yahoo!, and paypal. he sat down with emily chang and she joins me now with highlights from that interview. what did you guys talk about? hey, one of the most for sieges investors in silicon

they invested in instagram, google, some of the biggest hits and private technology history. rarely speaks out and i got to sit down with him last week to talk about the state of the valley, the state of valuations. take a listen to what he told me. mauritz m --or -- mortiz: i don't pretend to know a lot , but some ofmpany them are going to come cropper. in here are handful of companies that are going to become the great in during technology companies of the next 10 to 20 years. emily: how many of these are out there?

do you worry that there are a few? quite a few? mr. mortiz: well, i don't worry about it. emily: you don't? mr. mortiz: it's the law of corporate and business evolution. if people get too big for their britches, if the companies are run poorly, if money is wasted, if the product doesn't really fulfill its promise, the companies deserve to fail. howmortiz: -- emily: protected our late stage investments in this environment? >> many are not really investments. they are just disguised forms of that. they are very well protected. because of the terms that investors have put around them. david: -- mr. mortiz: the ratchets emily: -- the ratchets -- emily: the ratchets? is that a dangerous trend? the ratchets and the guarantee

that investors will get a certain amount back? if the company does not perform, yes, it's high risk poker. we started out talking about increasing scrutiny after a big investigation in "the wall street journal." a company whose entire technology is being questioned. if you are curious about what, a pper what -- what come cropper means, he does believe that a number of these unicorns will fail if they get ahead of themselves, but that this is also an opportunity and some great companies will come along as well. it's always interesting talking to a venture capitalist. what is his investment philosophy? emily: that is what is

interesting about sequoia. they did all kinds of investments. he would not give me specifics on trends. on the one hand he will invest in a payment company like stripe or online delivery company, but one of the things we did mention was the economics of instant cart. he was an early investor in one of his own failures, but he still believes that the model is possible. other venture cap -- venture capitalists say the economics don't work. he thinks he's figured it out, but we will have to see. emily, thank you very much, as always. she will be talking tonight with ryan white, head of global partnerships i google. ♪

>> welcome to "bloomberg market day." ♪ ♪

are you reading your favorite classes and welcome to the bloomberg market day akoni -- day." finally vice president make the announcement at the white house? olivia miss his moment of opportunity? toissa mayer's struggling build a stable management team because top executives keep leaving here we will hear what the chairman and founder has to say about her management. i want to head straight to the markets where julie hyman has the latest.