carol: welcome to bloomberg businessweek. jason: we are here inside bloomberg headquarters in new york. carol: in this issue, fat stacks. jason: and is anybody watching facebook watch? carol: and the social network still has a lot to prove when it comes to hollywood.

and we begin with the global cover story on carlos ghosn. jason: a month-long investigation into how this once glorified ceo ended up in jail. our editor joins us now, this is a tour de force of reporting. >> we really set out to tell the full story of this iconic, global auto titan. he linked companies around the world and was laid low by this secret plot. he is not in the clear at all, there was a complicated story. we set out to tell the full story. carol: it's interesting, because there is so much that has been going on this week. we had the french president worry about him in jail, and gohsn come out and say it was a plot against him. >> nobody has heard from him

since in a public setting and he actually spoke this week. so the timing could not be better and it does take this nuanced portrait of a guy and some powers that set out to bring him down. carol: it is a story that will continue to develop, and anybody is going to want to read the story. we got more from a reporter in singapore. >> saikawa and ghosn were very close, he was hand-picked as someone to take over the day to day running of nissan. and he is someone who has written the obituary on carlos ghosn's career. it is an incredible turn of events. jason: take us inside the company. what many people don't know about is how this internal investigation came together initially that was ultimately

handed over to japanese authorities. this was effectively right under carlos ghosn's nose. >> midway through last year, a nissan executive, a long time lawyer by training, began, for reasons that are not totally clear, they had doubts about the propriety about some of the compensation arrangements. he approached a calling for advice on what to him was an ethical dilemma. this turned into, gradually, and internal investigation. nissan's ceo was involved, and was essentially prepared to organize an operation. they arrested mr. cohen and someone named greg kelly, a longtime ally.

jason: part of what was interesting is the coordination that they underwent. he was not much to leave on a private jet to japan for a different airport. coordinating arrests as best they could, in order to essentially keep them from taking each other off. >> this had to be a covert and complex operation to get them both to tokyo on the same day within an hour or two that is what nissan managed to do. they were duly arrested and taken into custody, where carlos ghosn remains. carol: i must ask, was this the spoils of corporate success or was this that ghosn transgressed boundaries?

>> one of the things that remains a somewhat unclear is how many people at nissan knew about these arrangements. where they signed off, how were they sign up? and what was the illicit part relative to nissan? we know what prosecutors are accusing ghosn of doing, but the question is did he do things without the permission of others. those are all still open questions. there are a lot of allegations going back and forth. it is interesting to see how the process plays out. carol: but does it really

matter? japanese courts, they tend to find the individual guilty. >> that is true, there are various ways look at the statistic, but they're all pretty much in agreement that, in japan and if you are charged with a crime, you are almost certainly going to be convicted. the number of people not convicted is incredibly tiny. that said, carlos ghosn is not a typical defendant and has financial resources. in japan, the expected thing is that you confess, and that is how the system is designed to operate, and come up to some extent, how criminal defense lawyers are used to operating. to have criminals who confess who would be coached to confess in a less damaging way. carlos ghosn has made it clear he does not plan to do that. so what we will have is, if not the trial of the century, certainly the trial of the last few years unfolding in tokyo. carol: up next, why a tiny fund started the world's most successful hedge fund. jason: atlanta emerges as the hub of african-american

affluence and influence. carol: great story. this is "bloomberg: businessweek." ♪

carol: welcome back. jason: join carol and myself for "bloomberg: businessweek" every week. carol: you can find us online on businessweek.com and on our mobile app. 2018 was a tough year for many hedge funds. jason: tell that to ray dalio over at bridgewater. his fund generated big profits. carol: and taylor riggs is here to show us just how much. taylor: big profits, especially on a year when it it was tough for competitors. that is when you want to see a hedge fund is starting to outperform.

we make this into a graphic that shows the percent return for bridgewater, this macro fund up about 15%, overall gaining $8 billion. the next one we have data for is only getting $5 billion. so relative to peers, really starting to outperform. always good when the s&p is down. where are you looking to get alpha? jason: this is why people pay hedge funds is to make the sort of money. the other interesting stat i came across is that six out of 10 hedge funds lost money. taylor: that is a lot, especially after the fees. [laughter] jason: ray dalio may be impressive to wall street, but

not so much to the northern california county of san joaquin. carol: our editor tells us why they decided to pull money from bridgewater despite gaining over 14%. >> he had a good year in his fund. it was a standout in a generally lousy year for hedge funds. this is one of those global macro funds that can go just about everywhere. it is going to go where the returns are. it will give you market performance, which is what people want. they pay a lot of money for the performance. but they don't always get it. the longer-term record over kind of a five-year period is mediocre. it brings us to an interesting story about a retirement fund in san joaquin county california. it decided to fire the p a alpha fund because of what they saw as mediocre performance. it gets to a dissatisfaction and

a questioning some people are having about what we are doing with these funds. jason: about the entire asset class, in a lot of ways. you alluded to the rough year. one of the pieces i saw is that six out of 10 hedge funds last year lost money. and you are paying a lot of money in order to lose. that does not feel right. >> the idea about hedge funds is that it is this thing that is going to make money in any market. but actually, it is really hard for hedge funds to know how to measure performance. i kind of know when i am looking at an actively managed mutual fund who will usually be benchmarked around the s&p 500.

hedge funds, they will always tell you that we are offering diversification, doing something completely different. we are going to just be delivering you also is the big jargon. and that leaves investors with a bit of a head scratcher. so how am i supposed to judge you? classically, what hedge funds have a bad year, they are benchmarking us around the s&p 500 but the money flows in. carol: what is interesting is the san joaquin county pension, it is like small fry in terms of what bridgewater and ray dalio often deal with. but nonetheless, ray dalio sent a long letter. he wanted to hold onto their money. >> these pension funds don't just make decisions of cells, they often have. so one of the constituencies you are talking to when you are telling a board why you should

not let go of the fund, you're talking to the consultant behind the firm who may be making the decision for multiple pensions over time. it is important to say that they have kept money in another ray dalio fund. they haven't, you know -- carol: run away completely. >> run away completely. it is a different product with a different strategy. carol: dalio and a bridgewater are still holding onto most of their investors. >> this is a colossus of the industry. he has a record that has impressed a lot of people. and as we say, he is coming off of a good year. things are probably going to get better, not worse. jason: in the economic section, the big game in the super bowl happening down in atlanta. it is a boomtown, especially for african-americans. carol: and we have a chart to illustrate that, just how well african-american households are doing in atlanta. there is a not going on, we know

that, but take a look. it talks about the growth of the african-american population in atlanta, it's rather dramatic. we are also seeing growth in high income households taking off. growing influence and affluence. jason: and don't forget that last column. it really is the home of hip-hop, r&b, and entertainment. think about ludacris and t.i. >> atlanta is a vibrant city and is getting more vibrant by the day and week. there has been a huge influx of population, and a lot of that populations african-american. there almost 300 black citizens

moving into the atlanta since 2010. that is about 50% more than the total white population. by and large, this qualifies as doing well, they are doing well at least the start. black incomes are up significantly come incomes above $200,000. the number of households are up about 50% since 2010. there is a real five in town. the black community is feeling good about the status of the last several years. carol: and that five you can feel at the gathering spot. tells about that. >> 75% of the getting spot is african-american, and it is like a business club and co-working space were people can get together and have dinner and drinks. go to a spot and work. it has really become -- it is a

gathering spot for atlanta's black techies, executives. you don't have to be african-american, of course. the community's rally behind it, corporations are rallying behind it. in the last few years, they have had 4000 events as companies like coca-cola and the nfl host events there. it has become a big rallying spot in metro atlanta for a very diverse population. jason: tell us about the sector and industries that have taken root of late. >> atlanta has become the ground zero for america's hip-hop scene. some of our biggest celebrities are hip-hop singers, ludacris and t.i.

you have a huge black film sector here with tyler perry. at the same time, you have a mainstream film and music scene here. of course, you have more traditional sectors, financial technology is huge year. partly fueled by georgia tech, a big, so much human capital. and logistics and transportation is huge and getting bigger in atlanta. carol: up next, washington tells the world not to trust beijing when it comes to 5g. jason: and a new breed of foot soldiers helping ukraine stand up to russia. carol: this is "bloomberg: businessweek." ♪

jason: welcome back. carol: you can listen to us on the radio on sirius xm and on a.m. 11 30 in new york. and in boston, washington, dc.

jason: and in los angeles, london, and our app. carol: in this issue, another line drawn between washington and beijing. >> when arrested in canada in december, president trump admitted as much that she was a bargaining chip, as far as he was concerned. as was always larger treatment in the trade war. it was a little more complicated than that. when you are seeing in the charges laid down by federal prosecutors. they are circulating a lot of old complaints from members of congress and the intelligence communities.

they were a front runner in china's efforts to build 5g. it has been seen as a significant threat amongst u.s. intelligence agencies and businesses, as far as what the next internet will look like. carol: this was the u.s. justice department taking this action. what kind of support do they have from allies? >> for a while, the u.s. has been pressing allies to commit to supporting generally, and to commit to keep huawei equipment out. and increasingly to keep them out of wireless networks more broadly, which is a commitment that australia, new zealand, and a handful of other countries have made.

carol: it is fascinating that this came out in a week where president trump is meeting with the most senior official when it comes to trade negotiations. it is fascinating to have these two very high profile things going on at the same time. >> yeah, it goes screaming for anyone was hoping the trade talks would go smoothly for sure. jason: as you pointed out, t-mobile is part of this discussion. accusations being levels that huawei stole trade secrets from t-mobile along the way so you have got american companies directly and indirectly. >> intellectual property has been a big part of the indictment. it is of the crazy stuff.

indictments revolved around how they, according to the u.s., not only encouraged employees to steal, but awarded the bonuses based on how much they got away with. jason: and the frozen conflict between the ukraine and russia is heating up. carol: how an investor is using crowdfunding to fight putin. >> he is a cardiologist in maryland at johns hopkins. he also, in his free time, sends thousands of dollars to ukraine for everything from medical supplies to drones. carol: what is interesting and

fascinating is he is is one of many who is crowdfunding war . tell us about all of the different examples. first of all, why is this necessary? they don't have the means or the financial support. >> backing up to 2014 when the war began, the military was a total disarray after 20 years of neglect. they had 6000 troops that were ready to fight. their technology did not work, trucks did not run. and then the ukrainian the diaspora filled up and filled the gap. they do everything like send cash to buy sniper rifles or bandages, car batteries, everything. basically becoming the backbone of the military.

that has changed in the last two years as ukraine has normalized and gotten it back together. but these sort of volunteer crowdfunding revit citizens are still a huge part of the military effort. carol: tell us about the more significant groups that have arisen and born as a result of this crowdfunding. >> there is one group that is particularly notable called come back alive. it was founded by this i.t. specialist in his kitchen in the early days of the war watching the news, totally distraught by what is going on. he went on facebook and said i will donate a few hundred dollars to buy some bulletproof vest for our soldiers. a couple friends said we will join you, some stranger said we will join you. next thing you know, he's running this quasimilitary organization raising millions of dollars to buy sniper scopes and bulletproof vest. delivering them to the front, basically being a privately run quartermaster for the ukrainian

military. carol: what was your major takeaway, or maybe what surprised you? >> i think what surprised me was that this is not happening more in other countries. i think it will. i think as you see the united states step back from international security agreements, you will find that there are diasporas like this all over the world. there are many eastern europeans who live in the u.s. from all sorts of countries. people from taiwan and israel. i think we will see more situations like this where, in the throes of military conflict, notes of emigres around the world will activate and get involved, whether it is donating money, time, social media, whatever, we had to see the beginning. jason: here is that we need, another thing to worry about. carol: added to the list. if you think the threat of nuclear war was history, think again.

jason: this is "bloomberg: businessweek." ♪ the latest innovation from xfinity

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♪ >> welcome back bloomberg businessweek. >> still had this week, restaurants going through delivery in a play to optimize lunches. >> falling behind in hollywood. >> a reminder of a real present threat. >> we're talking about nuclear war. it takes me back to hiding under

our desks when we were kids. editor joel weber is here with us. what inspired this? there's a date in the near future, february 2, when a nuclear arms treaty will probably not be re-signed by trump. that opens up a window into a continuing problem in the world which is arms race. we thought that was over in the cold war, and we are in a new version now. >> it takes a long time to get there, but it kind of keeps people in check. is reallys happened as these treaties expire or don't get renewed, there's a whole new brinkmanship that starts to develop. >> i have to say, what really reminded me that most of the nuclear weapons are in the united states and russia. >> those are the existing powers we've been talking about for decades. this new brinkmanship also brings in china and there's an

ongoing conversation about the economic difficulties with the u.s., but there's also the ability to talk about nuclear war. >> we can forget north korea especially now that we think trump and the leader of north korea might get together again for another summit. >> if they come to get everyone has a different power dynamic you look at this through the nuclear arms race and compared to conventional warheads, nuclear warheads, it's actually an economic advantage for countries like north korea. all of these things unfold and it's about to happen over the course of the next two months of these trees get signed or more likely not signed. >> it's a fascinating story. another thing to add to a long list of worries. story.ot more on this >> a very importantly was signed in the 80's. that was the intermediate-range

nuclear forces treaty. missiles with a range of 500 to 5000 kilometers. and it ended with reagan and gorbachev signed this treaty that was a major step away from the brink of nuclear war. or really, as a really good thing. >> i remember all the protests. that was important. >> then we started backsliding. in 2000 two, the u.s. pulled out of the anti-ballistic missile treaty. the u.s. wanted to have a missile shield. and you could not have one as long as there was a tree against anti-ballistic missiles. >> and that's to prevent missiles from coming in. >> right. it's the whole star wars thing. it later turned out it was not really so easy to correct that anyway. but the u.s. was out of the treaty. and then there are two remaining ones.

the inf treaty, the intermediate-range nuclear forces treaty with reagan and gorbachev signed. on february 2, that's scheduled to expire. the u.s. announced last october that it was pulling out. there's six months after that it becomes a dead letter. >> why does the u.s. want to go back on it? >> russia has developed a cruise missile that seems to be within that range of kilometers. the russians deny, they say they don't actually have that range, but the americans and nato seem to think they're lying. , why shoulde reason only the u.s. be bound by this treaty. another reason is that china was never signatory to the treaty, so china is free to do whatever it wants and that range of missiles. the u.s. feels that it needs to have missiles in east asia to

offset china and would be freed to do so. was interesting is that you need these treaties to keep everybody in check. because otherwise, without them, you kind of say, let's have another new arms race. everybody build up their arms as they see fit. >> right, there is no perfect treaty. there is going to be cheating and they worry that somehow the terms of the treaty locked in an advantage for one side or the other. theif you get rid of treaty, as you said, there's nothing. and as imperfect of the inf treaty is, it at least allows the u.s. to inspect russian missile sites and you get some transparency. that would completely go away. chinalain that you said

is the bigger long-term threat to u.s. dominance because of its economic strength and at the moment, it's russia's very weakness that makes it dangerous right now. , as we can see with examples of north korea and pakistan, these are fairly weak economic countries but they have nukes. >> you call it the great leveler. it's not that expensive? >> one, they level everything that they crash into. the other is that they provide a way for weak countries to bring ofmselves to the level stronger countries, and that's kind of why everybody wants them. gymust ahead, a new kind of and it's just for runners. >> golding an empire. >> that's a story for me. this is bloomberg businessweek. ♪

♪ >> welcome back to bloomberg businessweek. >> join us for bloomberg businessweek every day on the radio from 2:00 to 5:00 p.m. wall street time and you can also catch up on her daily show by listening to our podcast. >> and find us online at business week.com and our mobile app. facebook watch, it's struggling to deliver hits for advertisers, anything. >> i kind of understand why because a lot of us don't even know what facebook watch is. >> let's look at this chart. it,ou've never heard of that rates and little above 40% and then you go close to 0%

using it daily. >> was striking about this is if you think about the amount of people that are using facebook regularly on a daily basis, on an hourly basis, it's rather striking. >> we also know that original content is doing very well, netflix, amazon, and youtube. conceivedk watch was to be a thing that would bring lean backo this intentional experience the way they have when watching tv or netflix. it, take a show and watch they spend more time in front of facebook. it has not worked out that way. it has been something that has been very much an afterthought for users. dot ons a persistent red your facebook or around the tv, people don't even know what that is or what it means. they get really confused. not really working out for facebook the way that they hoped it would. they hope, and why

are they doing it? >> back in 2016, facebook was very proud of its 45 minutes per day on average it was getting from users but those 45 minutes are being segmented into, on average, less than 92nd sessions. people were looking at facebook when they were standing in line, on the toilet, basically they managed to make a gigantic advertising business out of the little slice of their day that really you are not spending doing anything else. what facebook needed to do in order to continue to grow was move into the parts of your day that are a little more planned out. the time you're watching tv is a really good place to start. facebook thought that it can go out and buy a lot of high-quality video and that people would just go watch it. but so far, they have not had a hits. they have not even had a lot of shows that anyone has heard of. you have never heard of facebook watch, you're not alone. this is something that has really kind of faltered, even

though they spent more than a billion dollars trying to get content for a. >> what is the biggest negating factor? >> when people go to facebook they are in a passive experience. byy want to be entertained their newsfeed, they want to see what happening and then go on with their day. they don't want to hang out there and consume video. we did notchange, think of amazon as a place to watch video, but now i watch things youime, even might not necessarily be watching full shows on youtube, but some people spend hours of their time on youtube everyday. was facebook's intention, because it's not a fun one when you click on that red dot. >> zuckerberg, when this started in 2016, he was very insistent free roll be no advertisement, the kind of advertising you see on youtube that happens for your video even starts.

i for the much just look at the corner and try to wait so i can click to timeout. that's something he did not want for facebook watch. but it was really hard to get their advertising in something like that. an advertisingth that interrupts your video in the middle. now they are trying to move into more modes of moneymaking. little banners at the bottom of the video in some cases, sometimes they have free roll for certain videos. they're also trying to do branded content or advertisers andfor branded videos there's some kind of subscription service. there are a whole lot of ways. ultimately, the goal for facebook is to get facebook watch to a level of moneymaking that's a content creators -- in that the content creators will want to create content without being paid by facebook up front. because they will say i have a big enough audience on facebook that i don't even have to get

there i had of time to know that i want to invest in this. so far, we are very far from the future. >> now to something that people are watching. >> maria condo in the midst of a media blitz all about tidying up. >> the best-selling book to a netflix show, she is helping consumers rediscover joy. of joy, here is jim ellis. >> the netflix series has really made her teachings take off. extremelyhe's an popular, she's got two best-selling books and her first book on decluttering has been on the new york times bestseller list for 150 weeks. >> unbelievable. >> it is unbelievable. it cap's into something more than keeping your house clean. >> i have to say, it did first come to my attention, it was just this whole idea that you are supposed to pick up something and say does this bring me joy? if it does, i hold onto it.

>> it's a very different way of aching about products and goods and things that you have in our consumerist society. most of us buy things because we enjoy shopping, we enjoyed by its, we don't enjoy having things. what she preaches is that you should think of your possessions as temporary, unless they bring you real joy or unless they spark joy. in america, even more so than japan, that's a new phenomenon, so a lot of people are using it to say, let's important in my life? that's interesting and in some ways it's a lot more than a home improvement or home organization philosophy. live my about how do i life, and that's what netflix has picked up on with the show, letting her go and talk to families. it tells you a lot more about the family than it does about the cleaning process. >> let's talk about that, because i've watched a couple episodes on netflix and i was surprised. she speaking japanese and she

has a translator, and that's having to the program. >> it's unusual, this notion that we can have a dual language, particularly that a lot of americans don't have any clue what things mean, but that's a testament to netflix and their strategy, trying to take content across markets. one of the things they have done is expanded globally, look for things that are going to be hot in one market but has crossover potential. >> at the same time, you have the business strategy, because it's not just about selling her books, she also has these ansultants, and she has strategy session you can go through. >> my husband wishes i was a mini maria. >> you can sign up for these sessions that she does. and you basically are trained. so you can go through training and learn how to be a consultant. trademarked, they are

plan how they teach you to think about this and how you can help other people decluttering their homes and their lives. it's actually not as expensive as you think. still less than $3000 in training. but then you pay a licensing fee to her, $500 per year. some people have turned this into real business. >> up next, forget farm to table, it's now about farm to desk. >> plus, some glamorous comebacks. >> this is bloomberg businessweek.

♪ >> welcome back. to us onan also listen the radio on jenna 119.

>> in london on digital and of course the bloomberg business that. in the featured section, overhauling a venue. >> it's a movement being closely watched by the whole industry. the incoming up the delivery middleman like grubhub, uber, to deliver directly to its customers. >> more on this story. >> dig in is a fast cash restaurant based in new york, about 26 restaurants. it's very popular in new york. focusedve that veggie grain bowl salad kind of thing that everybody is doing these days. assemble,p and you you get a little bit of grain, a little bit of chicken and vegetables, you bring it back to your desk and that's your lunch. and they have been doing more and more of their meals for delivery over the years. now, in some locations, as many as 30% go to delivery. and it's good, but it's also

bad. >> it's good because a lot of that is revenue they would not have otherwise had, but it is operationally really difficult and the profitability is not as good as in-store meals. >> explained that. >> if you are ordering through uber eats or grubhub, they charge you a delivery fee but they also charge the restaurant a huge portion of the revenue of the neil. sometimes 20 or 30% of that will actually be going to uber. that's pretty difficult in a business for the margins are already very tight. just talking about how digital delivery is going to be a bigger and bigger piece of the overall restaurant space. >> by 2022, they are saying it might be 10% of all restaurants. you have to remember that that is every restaurant everywhere. you are talking about a counter service lunch place, it could be closer to 25, 30, 3% of sales. >> what is a place like dig in

doing? >> they have been really proactive with delivery. they have realized it isn't going to go away so they have to change the way they operate in order to make this a better experience for guest and also make it more profitable for them. >> one of the things they are doing that you write about is this idea of essentially gaining the temperature of the food and cooking it in a way and placing it with different foods so that it essentially keeps cooking as it's being delivered. >> they have hired an mit engineering guy to handle the operations side and that got a chef that has been working full-time for 18 months to figure out how you cook food that gets possibly better as it travels. it stays warm if it's warm, cold if it's cold. the temperatures and textures are all what they should be. >> i feel like it's so efficient.

this is part of what the restaurant chains are doing. they are trying to really make their at work so well that you don't go to a other restaurant market because this is how they protect their margins. soit's protecting margins that they are not paying that feed to the marketplace, but it's also protecting their relationship with the customers. you think about online travel booking agencies like expedia and orbitz that 10 years ago started to get in between this hotel for the airline and the customer. the same thing is happening for restaurants where they say, we a loyalnt to spend customer over to grubhub were there are going to see 10 options for lunch and maybe it will come back, and maybe they won't. >> a reboot. workout, cold fitness classes going global. body which iso my the app that builds a lot of these things about what are the most popular and most repeated

classes, and we try to learn, why do people go back. >> so what are the hot ones people should know about? series, therange ones that we looked at were new and up-and-coming. this one in new york city where you go with a friend and you do partner exercises for almost an hour, and you switch every two minutes. there's one called training mates which came from australia, it's really big nla mile high running club which is called the dirty 30, a very intense treadmill day. it is a hard, hard running workout. you definitely feel it when you hop off the treadmill that you've got your sweat on. >> treadmill workouts are among the most popular now. we have a lot of these workouts in paris which is very hot. parisians are exercising. equinox make nla, but

now is giving off one of their running classes which is very popular out into its own studio. that actually was just announced this week. >> it's a global thing. i kind of think this all comes from new york or l.a., but you see interesting types of workouts. 3-d graphics on the floors, it can be really quite technology forward. >> speaking of things leading up, you have also covered some really colorful watches. tell us about it. it's literally the rainbow. >> two weeks ago i was in switzerland at this watched show where all of the brands show their new stuff for 2019. a couple of friends have these watches with rainbow colored bezel. stones arranged in a rainbow formation, and it's very blingy

and bright and for a company that is usually conservative it was a bit of a surprise but these have become very popular expensive,e very tens of thousands of dollars. rolex is early out of the gate and they launched one last year that was $96,000. i took an instagram of it and said who likes this kind of thing? and peoples that all my god, i wanted. >> obviously, devastated in many but nicky made the journey. just reading this and her description, pretty amazing. >> after the hurricanes in 2017, and a lot of people don't know that a lot of the hotels went off line for the season. so that they can really redo everything. this winter season is the first time everything is really back.

now, it's an awesome time to go because everything is similar to the way it used to be, but refreshed, it has a new coat of paint and some really new faces to hang out. online and on her mobile app. your must-read, i know what it is. >> is a cover story. what a great dive into what is going on. been in jail for about two months, i feel like details have come out and this is the first time we really get an understanding of what has been going on behind the scenes. >> so originally reported and a reminder that none of these stories are what they seem to be. it's very competent. speaking for the first time, all that you have, the president of france wearing it on this. in jail, soll there's more to be had on this story. can find more of these

stories on businessweek.com. >> and check out our podcast. >> more bloomberg television starts now.

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♪ francine: nestle is the biggest food company in the world, with products in 191 countries. the company boasts more than 2000 brands, like pure life water, kit-kat, and others. while nestle products transcend countries and cultures, they are often tailored to local tastes. what kind of leader does it take to oversee such a wide ranging product line? today on "leaders with lacqua," we meet paul bulcke, the chairman of nestle. paul bulcke, thank you for being