♪ stories that the shaped the weekend business around the world. this, decisions, decisions. the world was on watch for surprises as central banks made interest rate decisions. was awent janet yellen perpetual dove. erik: britain takes another stride towards brexit. populism on pause while the u.s. comes down hard on hackers. bruising battles rage on capitol hill. >> this to me is a very shortsighted budget. >> our president said from day one on the campaign and i'm not surprised by it. erik: in the midst of political

turbulence, financial leaders seek solid ground. >> the key is to maintain as much as we can, functionality. erik: mary barra sees positives for u.s. automakers. >> this is something we can do to be more effective and efficient. in the end, it will have a bigger impact on the environment. erik: it is all straight ahead on bloomberg best. ♪ erik: hello and welcome. i'm erik schatzker. this is bloomberg best, your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. many of this week's most important events in on the calendar for months. major central-bank policy meetings. on monday, political surprises were the order of the day.

we have some breaking news because the congressional budget office released its scoring, assessment of the house gop alternative to obamacare. some of the big headlines out right now. the bill would reduce the federal deficit by $337 billion. million --st us $14 14 million people would be uninsured in 2018. what is your snap judgment? >> the fact it says it would reduce the federal deficit by $337 billion is definitely something this white house is going to be pushing for. again, the fact it would increase the number of people who are currently insured and they would be now uninsured, that's a number the democrats are going to pounce on. without question the fact they say it would reduce the federal deficit is a take away from this white house. >> rollback federal subsidies for health insurance by a lot as

this bill would, there are two natural consequences. one is you were people have health insurance. the other is the government saves money. cbo's estimate should not be surprising to anyone. >> heading for another vote on independence. opening a new front in the brexit battle. >> i can confirm next week i will seek the authority of the scottish parliament to agree with you take government the details of a section 30 order. medium-sized deal, are not that big? >> it's a big deal for the u.k. because sturgeon is nothing but not a politician. she will not make that call on the she's confident she can win. for may, it will not stop brexit or triggering article 50. it could complicate things significantly for her. it will give the european commission a little bit of

ammunition to say, well, look at the divisions in your own country. this is a lot more than just an anti-threat. -- empty threat. >> that prime minister is preparing to trigger brexit in the last week of march. that's according to officials familiar with the plan. parliament passed legislation to invoke article 50. >> we remain on track for the time table i set out six months ago. i will return to this house before the end of this month to notify when i formally triggered article 50 and begun the process which the united kingdom will leave the european union. >> bloomberg has been told by officials familiar with the plan the end of the month is still on track. one official said the most likely date between march 27 and march 30. note this bill is going through unchanged. going to withis no amendments because the house of commons rejected the amendment performed by the house of lords. hays at go to kathleen

the federal reserve in washington. >> it raised its benchmark rate by a quarter point to 0.75% to 1.0%. the president of minneapolis said that's the median estimate for this you remains three rate hikes. a stronger consensus. >> we continue to expect the ongoing stress on the economy will warrant gradual increases in the federal funds rate to achieve and maintain our objectives. >> what did you learn in the press conference, mr. gross/ --? >> we learned janet yellen is a perpetual dove even when conditions are rather in terms ofwkish stock market at an all-time peak. supersedes any gradual way. i don't think that's inappropriate. inhink it's a high leverage

the u.s. economy and global economy for central banks to proceed in a gradual way. she is a dove and that's why the markets reacted as it did. japan kept its program unchanged today. the rates are kept at current levels while maintaining the rate of asset purchases. how much -- last year he gave negative rates a couple of weeks after saying he would not go to negative rates. 10n he decided to cap year yield. >> he probably feels the ball should be on the corporate side and not his side. he's not a magician that can bring out rabbits all the time. they present study having deep pockets. it is not there is much as it used to be. you get see the effect and reactions of the financial market. it's showing signs that boj is running out of cards. >> the ftse is a record high.

we are just numbers with the bank of england's monetary policy decision. that drops right now. a decision that leaves rates unchanged at 0.25%, and asset purchase program, the corporate bond target and 10 billion. said 25 basis point hike. >> i'm surprised from these minutes. the discussion about the survey evidence of activity was almost lost over. over.ssed we know the house. we have seen business investments and intentions falling up quite sharply. not as much as we thought they would. i think we would see this data start to roll over. cuts,torically deep that's what president trump is proposing in his budget. the so-called skinny budget was released overnight and will

touch on most every federal agency program. >> president trump tries to boost military spending by $54 billion. as a result he will look to offset that by cutting several key agencies, including the viral protection agency. -- environmental protection agency. >> we will globally from some of the domestic priorities and the two protecting us. again our president set is from day one of the campaign and i'm certainly not surprised by it. >> this today is a very shortsighted budget -- this to me is a very shortsighted budget. mulvaney saidick he got this from the campaign speeches. the out to be a translator from united nations. i don't think anybody could get the set of what trump campaigned on. >> president donald trump and angela merkel are meeting for the first time in washington, d.c. concerns about the u.s. shift

towards protectionism. >> the discussion will be economic policy, trade agreements and immigration. you could not have two more polar opposite global leaders in terms of immigration and global immigration regarding the middle east. angela merkel and president donald trump. a lot of focus on trade policy and immigration. >> i think her main message really is that don't look at trade as a zero-sum game. she said this in various ways in the last few weeks in the buildup. on theince trump w election on what germany sees as a protectionist agenda. >> it's a clever move to to , theythe field of bmw stand for companies and investment in the u.s. that up to more than 600,000 jobs in the u.s.

you start to impose a border adjustment tax or any other measure, you also risk losing a good chunk of that tradition. i think that the language someone who is constantly bragging with his business skills would probably understand. >> still ahead as we review the week on bloomberg best, an election in the netherlands flips the script on european populism. another candidate stumbles in the french presidential race. plus, also weber talks about what he's expecting a brexit. and more of the week's top business headlines. upon them as cars and coming down the pipe. intel hits a premium to into the fast lane. >> this deal is immediately accretive to our earnings share . erik: this is bloomberg. ♪

♪

best,this is bloomberg i'm erik schatzker. was continue our global tour of the week's top business stories with a big deal. one of silicon valley's stalwarts went shopping in israel. >> in a move to dominate the technology herself driving cars, in a deal worth $15 billion. the shares of the israeli company up 29%. >> it is insanely excessive. $350 million in revenue is paying $15 billion for. free cash flow company, no snapchat. they are paying through the nose for this coming because it is a leader in this emerging field of automated driving cars. is the fantasy this might lead to. very high price tag for this company.

that is what intel think it has to do, jump start their efforts. >> we knew this was a hot space. gathering of these technologies in building this platform was important. deal, although large, is immediately accretive to earnings per share in free cash flow for the company. gets a good deal from that perspective as well. named mark tucker as its chairman. starting from october 1. what has been the latest in what more do we know at this point? >> he will be the first external hire to take on the role of chairman. he started on the first of october. they were looking for a person approaching the end of his term who has -- they said there would be an external hire. he knew that was what they were looking for.

he was a ceo for seven years. of -- one of his tasks will be to find a replacement for the ceo stuart gulliver. he is also on the way out as well. about thetalking deluge of data. retail sales, investment and production. >> more surprises from the china data. retail sales numbers increasing 9.5% from january to february. the estimates had been for an increase of 10.6% over that period. missing substantially on the retail sale. not that growth but it compares to a number of years three had at least double-digit growth in retail. >> starting to reach the peak of chinese growth stabilization stories? >> not when it comes to the gross story. when it comes to ppi, yes.

i don't think it will rise much further. q2.will probably peak in they will raise interest rates further but we are not far from the peak. >> let's talk about toshiba. selling a majority stakes in washington heights nuclear political unit. >> a gain approval to the delay release of third-quarter earnings for a second time. remind us what is happening today. >> today was supposed to be the day that the company finally reported its earnings for the quarter ending in december. instead it said he can produce those also and is started an extension of they can always to calculate the numbers. it said is looking to sell a majority stake in his westinghouse unit. the problem is to shiva is trying to get their hands around how they the problems are with the nuclear unit. it is struggling to complete a

few projects in the united states. they are years behind schedule right now. the company said it will probably need a breakdown of about $6 billion but it could be bigger than that. auditors will not sign off on the books. the company is investigating whether management at had undue pressure. england governor has quit in the last half an hour. april the mcgeary committee says he did not meet the standards required for the role. lawmakers were required she did not disclosed that are brother works for birthday. >> especially from a pi perspective -- pr perspective it's a comfortable and embarrassing. this is a case where is more impression of-- conflict of interest.

they do not believe they deliberately misled anyone. there has not actually been a confidence of interest while she's been chief operations officer. now she is taking on the new role as deputy governor for markets in banking. the standard they expect for the physician and she has not met those. that's why they said she does not meet those standards. >> will this change for governor carney or she was essentially his fix. case of shenitely a was an appointment by mark carney. is needing a close and loyal ally. >> valeant shares are down in the premarket. bill ackman cut his losses and sells the stake in the embattled drugmaker. g is catching up to make the challenges for the company you more difficult than they were before. he sold his entire stake in the controversial -- as a los angeles and the board. how much is about bill ackman

the person, the way he does business, and hedge funds were broadly? >> i think it is both. bill ackman, he is one of those really polarizing figures, even among activists investors. he is very outspoken. there has been a number of situations where he's been criticized for just holding on to long, or maybe letting his ego get in the way and i wanted to give up on something that is arguably should've been given up a lot longer ago. i think he might be another one of those situations. the u.s. government is pointing the finger at russia for another hype -- high-priced cyberattacks. hackers in ato scheme that cause the 2014 breach. -- against the chinese pla hackers.

it is their effort to paint a picture of how russian intelligence is cooperating with criminal hackers that help them high intelligence gathering operations, but also help them be much more effective than they might be on their own. it's a devastating picture of what happened inside yahoo! these has access to internal systems that allow them to basically create encrypted cookies they go on the machines and access any of the users actual udall accounts anytime they wanted over a period of years. >> president trump's second travel ban has been blocked in a court in hawaii. this is the second in another defeat. president trump's campaign. what led up to this ruling in hawaii today? >> the attorney general, supported by a number of other ban is nothis travel constitutional because in spite of the revisions to the

executive order, it remains rhetoric from the campaign, the president's campaign were he called for a muslim ban in registry. the questions raised by the judge were why he should consider those arguments. the justice department was not swayed to able to ignore them. let's turn to the g-20 meeting. trade the top of the agenda. >> of finance ministers and central bankers gathered here trade is not usually essential to the agenda. but it's become the major sticking point. e g-20ure markets th remains a cohesive group. the americans and chinese and faced off of the word "fair." if global trade to the bulls based and fair or just open and

free. the chinese don't want fair. you sho -- the u.s. is pushing for. europeans have come up with several compromises. no one has agreed on anything. the man at the center of everything, steve mnuchin. how is he doing? >> in public easement all the right moves and set all the right things. talked about cooperation and getting along with his colleagues. we have heard other finance ministers described negotiations between their deputies and u.s. officials as extremely difficult. ♪

♪ welcome back to bloomberg best. i'm erik schatzker. had a meeting with auto executives this week, president donald trump announced he ordered a midterm review of

industry regulations, including fuel standards put in place by the obama administration. david westin discussed the implications with gm chairman mary barra. mary: i think it's so important we look at all the proper -- that's been made in the last five years and technology. how consumer trends have changed and the whole environment. we can do things that are going to improve the environment, not threaten jobs. i think we can do things that will create jobs, strengthen the economy, but do the right thing for the environment. this is not at odds. this is something we can do to be more effective and efficient. i believe will have a greater impact on the environment. david: this is something you and your colleagues asked for. let's go back and take a look at this. the regulations go at the 2025, a long way. at what point have a not changed

with gm act to change the way it's doing business? mary: we would not be a give customers the choice we give them today. they choose if they will buy an suv or a small car or an electric vehicle. we are full range. we are continuing to invest in .he chevrolet, volt ev we are very proud of it and is doing well. we are making investments to have the right products. there is more change happening now than in the last 50 years. we look at this legislation five years ago before there was cheering and we were even talking about autonomously we talk about it now. driven,a pause, be data and asked what of the standards and how can we improve the environment in the most effective way, it's a well we all agreed back in 2012. david: is a reversion the general motors could live with? >> i think your point is it depends what exactly is it, and we don't know.

what we know is a long lead, high capital investment business. we need to understand with the requirements and the rules are going to be so we can make smart investments. sometimes the investments we put in place are 10, 15, 20 years in position. when he to make sure they understand -- support our company. in this new tax environment i think there is a lot to be learned. we are waiting to understand it. up, more of the weeks compelling conversations. immigration is still at risk. a mexican presidential contender holds nothing back and talking about donald trump. plus as scotland's towards another vote under defendants, a leading politician says it should be of the hold up well on

its own. >> it is based on brains. erik: this is bloomberg. ♪

♪ erik: >> the issue in australia is the mismatch between supply and demand. it is not a busted credit bubble. they are real values. we are waiting for the government to put down pressure on those prices by addressing the supply challenges that are out there and working to achieve that. >> in terms of creating the right conditions were more supply comes on? >> that will be outlined in our budget it comes down in may. we are outlining did he write

across the housing affordability spectrum. erik: that was us trillion treasurer scott morrison discussing government efforts to stabilize his nation's red-hot property market. it was an exclusive interview with bloomberg markets asia. now as scotland considers a referendum on independence, its leaders must evaluate prospects for economic success outside the united kingdom. guy johnson discusses that topic this week with former scottish first minister out salmon -- alex hammond. >> there is an underlying strength based not just on natural resources. it is in brains. scotland has more universities in the world, the top 200, than any other country except one. >> are you certain scotland as an independent country could rejoin the european union? >> yes i am. i think what you'll find is over the next few months a very distinct perspective for

scotland and europe. you will exactly how scotland can secure its position. and then we will ever from the perception across europe. scotland has many, many friends in europe. u.k. has virtually none left. this is a big preservation in 2014. him.nected to see as the spokesperson for the scottish national party, a long meeting with jean-claude yunker, big change in attitude towards scotland. people basically know that scotland is pro-european. >> what did he tell you about whether not scotland could join the euro? >> those are private discussions. we did not discuss scotland join the euro because we know the facts. sweden is in the european union but not in the euro.

an rules are you got to be exchange mechanism for two years before you can even apply to join the euro. -- exchange rate mechanism that is why sweden is not in the euro and that would apply to scotland and nine other countries. >> you would not expect scotland at the join single currency? >> direct. >> full membership, transitional membership? a period where you are not a member of either union? >> the logic of having referendum on a timescale as outlined is you can compare the hard exit lands with what emerges as the perspective for scotland and europe. double-dip merge over the next few months. i expect negotiations will be a good deal easier than the negotiations of london and brexit. erik: financial leaders from

across the eurozone came together this week at events around the meeting of g-20 finance ministers. we caught up with several of them. let's start with ubs group exclusively spoke to bloomberg from the iif g-20 conference and frank for. integration is challenged at the moment by brexit. that is the first data point where the market was concerned. there was a lot of uncertainty and strong movements and volatility in the market. that will continue. europe will be played by political uncertainty. even greece is looking for another nation, might come back as a problem over the summer. plenty of political risks that might materialize in europe. the market will react with volatility and caution as the data points materialize. david>> let's talk about frexit. you mentioned you are thinking

about 1500 jobs moving from london. are you making an assumption that we will see a hard brexit? >> i think what we need to do is manage risk. when he did manage -- we have to be prepared for every eventuality. in terms of our planning we need to look at these options. lee kiefer us is not to take a certain decision. the key is to maintain as much as we can. we do not want to make decisions we regret, but at the same time we cannot afford to wait for the political dust to settle. a key point would be the triggering of the article 50, which at that point makes the exit of britain almost and under reversible trajectory for the next few years. then we will look at how hopefully can be that market access to european markets will continue.

i think it's not going to continue on the basis of the old arrangement. any step completely new arrangement with the eu. a father reading is and not in my expectations. it we reachedis an agreement on the basel iii agreement. when you expect that to be? >> lots of questions but most importantly let me state it is my understanding that these meetings go well, we keep narrowing, discussing things. all this meetings have progress. it is important that we have a global -- it would be good for the banking industry, the banking industry. one clarity, when uncertainty with a have to face. i think we as regulators are clearly under pressure to reduce overtime and agreement.

you need to compromise and mmon for, ground -- for a co ground. we are under no time pressure. erik: as the u.s. and i code navigate delicate diplomatic challenges, the early front-runner in next year's to give get presidential election had some harsh words for donald trump. lopez them with andreas trump'sand he blasted campaign of hate against immigrants. -- but also is trying to be confrontational. that policy is not good for the united states, and it is not good for the world. becauseot good for him if he continues like this, he will lose the next election.

he will not be reelected. without type of president. renegotiate a free trade agreement, nasa. clearness, without being disrespectful to the president of the united states, donald trump, acting with independence with sovereignty. mexico is not a colony of any government. erik: but if president trump insists on imposing tariffs on imports, how should the mexican government respond? >> we have appealed to the international trade barry -- bodies. if donald trump continues with his hate campaigning as the

, when thoseant things happen we will go to the u.n. and report united states government for violation of human rights and racial discrimination

♪ erik: you are watching bloomberg best. i'm erik schatzker. frexit negotiations were not the only important political story in europe this week. investors play close attention to elections in the netherlands, as well as drama and france's presidential campaign. >> let's talk a bit about france. -- was charged with misuse of permanent funds, casting a shadow over his bid to become the next president.

keep the night and have the investigation is a plot by his opponents to undermine his candidacy. >> we knew this was coming. this news should have broken today. it came out yesterday. a press is ago, in conference where he said he was summoned to be interrogated by membersnd hiring family for parliamentary a, he expected to be charged after the investigation. the damage probably has been done. he was the front runner several months -- back in january before the revelations about the affair broke. he has fallen back quite a bit. he is now in third place. he would not make the may 7 run off. he just has the these revelations behind him. is all we have spoken about the past month. dayiberalism has won the against the populist vote for

extreme -- vote against . -- he saw a near 80% turn in the post in this very high relative to 2012, relative to 2006. the liberals are the victors here. we expect them to try to start the formation of a -- it could take up to 200 days. liberals, their vote was up to the still barely 12% of the vote. the greens did well and nearly quadrupled their seats in their parliament, up to 15. it could be that is the rainmaker. the question for markets is how did the dutch built this farm? walle people have drawn a up against this populist wave.

eight good test to see which way the populists winds were blowing in europe. is the first we've had in 2017 and the region. it looks like the populist wins are not quite as strong as we thought they would be. that is helping the positioning of the euro. they have abounded quite aggressively. were perhaps too worried about the risk of populism in europe. the euro is likely to grind higher over the course of the year. timey start seeing ecb frames what the political cross begin to take shape. more of an uplift to the single state. >> whether you think of the reaction the bond market? is that a sigh of relief kind of day. relief in holland. but i think when you try to extrapolate this and transfer it to france. it is usually very

different. i think it is a bit of a release today. the market will really set the focus on france again. certainly investors have learned from brexit, the u.s. election. the risks are alone in you to .ocus on health risks as well with rex tillerson making his first official trip to japan,, south korea and china. and the rhetoric ramped up before he even touched down. trait pickt trump's has been questioned as confirmation hearing. theaid he agreed with o assumption the u.s. to do better negotiating deals. -- plenty in china. they country that canceled with

half of the u.s.'d $500 billion trade deficit. there are many similar views about china and trump will be a will to shake things up. >> betweem now it's time i leave, you will save bob, you are right. if you look at our problems, china is right up there. >> he also said the u.s. needs to have imaginative solutions. wto is not set to deal with china's policy. he is recalled the hammer before, a tough negotiator. if you don't get function of this position, you will be missing argument between him and china on how things will pan out because of trade. >> the chinese premier speaking right now at a press conference in beijing.

he is wrapping up two weeks of legal pageantry of fall the national people's congress. he was speaking about china-u.s. ties, saying china and united states should expand in mutual interest. they tend to have inevitably agreements, and this time there are strong prospects when it comes to building u.s. buildings. the one child the policy is the foundation of china u.s. policy. >> it's interesting he highlighted the one china policy. he talked about this being the foundation. it points to a sigh of relief over the phone call it in the two pregnancies. where trump did say he would support one china policy after whetherly questioning or not that should be part of the bargaining chip for the u.s.. a bargaining chip when it approaches trade with china.

trump came out and said he will stick to the one china policy. everything else they can negotiate and work on and move things forward. the prime minister shinzo abe. we are outside the guesthouse which is part of the ministry of foreign affairs for the talks with the japanese counterpart will happen later this afternoon, as well is a meeting with prime minister shinzo abe. north korea will be a top the agenda. also issues with china. don't forget about the issues with japan the united states is withdrawing from the transpacific partnership. there have been calls a president trump for japan to shoulder a bigger load or its defense bill. it like it's the united states -- it blanketed with united six provides. weapon programs

and how the u.s. and china can rain that in? >> we look to china for them to fulfill their obligations and what the sanctions call for the you and resolutions. sanctions any u.n. resolutions. it would be good -- >> what is he proposing here? how big a change in tone and policy? >> frankly, i don't hear a big difference. this is standard u.s. policy. we talked to the chinese a lot. we put pressure on the chinese a lot. we think the chinese of the most memories on korea. nothing's happened. korea is a major headache for this region. what needs to be done that is different? the policy options for the that it's it's a very limited, other

than trying to apply levers they china. we will not see any significant breakthroughs. this is a fact-finding mission. he will because this in careful and trying to establish parameters of the u.s.-china relationship. secretary of state rex tillerson got a look at north korean today and had a warning for kim jong un . the so-called demilitarized zone between north and south korea during he said the u.s. is looking at alternatives. he did not collapse from a strike. >> all of our options on the table. we don't want things to get to a military conflict. we are quite clear about that. if north korea take actions that threatens the south korean forces or our forces, they will be that with an appropriate response. ♪

♪ >> let's talk about the weather. the bloomberg has al qaeda different tools to examine the weather, including whut . precipitation. a lot of it in our area. a lot of ways to explore the massive storms. if you're stuck at home or the office and you are sleeping on your desk and do what is he was going on with the weather, type it in. erik: there are about 30,000 functions on the bloomberg. we always enjoy showing you are favorites on bloomberg television. maybe they will become your favorites. here is another function you .find useful, quic you can get important insight

into timely topics. this week we examined the republican proposal to replace obamacare. some an unbelievably complex subjects. nobody knew health care was so complicated. president donald trump and republican controlled congress rolled in on day one with an imperative to repeal and replace the affordable care act, flores the rest of us call it, obamacare. 45 days in, the house republicans took their first avenue health care plan. they call it the american health care act. >> this is the american health care act, or the world's greatest health care plan of 2017. while paul ryan certainly expected the bill to cause a rift the democrats, he is experiencing one with republicans as well. . the situation. the affordable care act was signed into law in 2010 into full effect in late 2013. under obamacare 20 million

gained coverage with the largest edition coming to the expansion of medicaid. the uninsured rate fell by about half and the number of people signing up to the exchanges keeps growing. trump tookuntil office in republicans moved to repeal it that obamacare became more popular than not in america. theyo many conservatives are looking less like repeal and theace and more like -- bill keeps the popular under 26 provision and pre-existing conditions policies. certain republicans are limited by the continue saving tax credit to make insurance more affordable. although they would be based on age and income. they at least medicaid expansion place for 2020 democrats object to any rollback. >> billions of americans -- millions of americans don't like what they see. >>the repeal obamacare's least popular provision, individual mandates. tax has been such a

burden on many americans. >> a main pillar of obamacare, the individual mandate requires every individual, sick healthy alike to qualifying health coverage or face taxes. this would replace it with continuous coverage. people can choose not to buy insurance and set up a higher premiums. we are in the midst of a rescue mission to save the families who are getting caught up in a death spiral that is become obamacare. >> by eliminating the individual mandate, it can produce a very death spiral health care that many republicans feared. an insurance death spiral is a people drop out and leave a slightly sicker population that is worked as a day care for. premiums making the road basement -- replace the population sicker and so on. the congressional budget office does not predict a death spiral but 24 million americans could lose health care by the end of

the decade. in thestacles remain past few days of aca. it is sure to be a bitter fight for approval. it's obligated process what is actually very simple. it's called live healthier. erik: that was just one of the many quick picks you can find on the bloomberg. you can find them at bloomberg.com, along with the latest business news and analysis 24 hours a day. that will be all for bloomberg best. thank you for watching. i'm erik schatzker. this is bloomberg. ♪

♪ david: your last name is krzyzewski. it took me a while to learn how to pronounce it. after like three years, you had a losing record. mike: a lot of people were calling for my firing. david: you won the national championship. mike: i said we are going to win. i don't know if i really believed that, but we ended up winning one of the greatest games in the history of college basketball. david: last year, you won your third gold medal. mike: to have those guys with medals around their next and the national anthem being played there is nothing better than , that. david: what would you say are the most important lessons of leadership? mike: at west point, i learned that failure is never a destination. >> would you fix your ti