♪ carol: welcome to bloomberg businessweek. jason: we are here inside bloomberg headquarters in new york. carol: in this issue, fat stacks. jason: we will be looking at her growing, tidying empire. 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: it's a month-long investigation into how this once glorified ceo, the quintessential davos man, 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 really linked companies around the world and was laid low by this secret plot. he is not in the clear at all, because this was a really complicated story. we set out to tell the full story. carol: is interesting, because there is so much that has been going on this week. we had the french president worry about him in jail, and you had gohsn actually come out and say it was a plot against him.

>> nobody has heard from him since, it was 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. jason: it is a story that will continue to develop, and anybody is going to want to read this story. we got more from a reporter in singapore. >> hiroto saikawa and carlos ghosn were very close allies. saikawa was someone who came up, was his 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 on ghosn's career. it is an incredible turn of you -- turn of events. jason: take us ultimately handed

inside the over the authority and it would bring 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 happening effectively right under carlos ghosn's nose. >> midway through last year, a nissan executive, a long time nissan staffer, 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 colleague for advice on what, to him was an , ethical dilemma. this turned into, gradually, and i internal investigation. nissan's ceo was involved, and was essentially prepared to her organize an operation. -- essentially helping to organize an operation with

japanese prosecutors to arrest ghosn.en -- mr. 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 -- not meant to leave on a private jet to japan for a different airport. meeting and coordinating arrests as best they could, in order to essentially keep them from tipping 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 of each other 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 it that ghosn transgressed

legal and ethical boundaries? what the question is. >> 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 signed off? 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? as you write about in the story, japanese courts, they tend to find the individual guilty.

right? ultimately? >> 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 who are 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. i'm carol massar. jason: and i'm jason kelly. join carol and myself for "bloomberg: businessweek" every week. also get up on our daily show by listening to our podcast. 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 renaissance technologies 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 pure alpha two 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. the idea is it is going to go where the returns are. and not just give you market performance, which is what people want for hedge funds. you 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. particularly after you add in the seas. -- the fees. it brings us to an interesting story about a retirement fund in san joaquin county california. it decided to fire the p a alpha -- the pure alpha fund because of the fees and 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 lucy you that doesn't 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. i know that that person did not do their job. hedge funds, they will always tell you that we are offering diversification, doing something completely different.

we are just going to be alpha.ing you i think that always leaves investors with a little bit of a head scratcher. so, how my actually supposed to judge you? classically, when hedge funds , you ared year benchmarking us against the s&p 500, but that's not what we are here for. 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. my hometown, 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 lot going on. it talks about the growth in the african american population. also weeresting, it's are seeing growth in high income households really take off against the african-american community. >> don't forget that last column there. you think about tyler perry and a booming entertainment industry. reporter michael told us more. >> 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 vibe in town. the black community is feeling good about the status of the last several years. carol: and that vibe 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 then transportation. 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. jason: the u.s. is accusing chinese giant huawei of stealing secrets. saw, when he was 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. jason: here is reporter dave herbert. dave: 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 -- private 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." ♪ this isn't just any moving day.

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♪ jason: welcome back bloomberg businessweek. i'm jason kelly. carol: and i'm carol massar. still ahead in this week's issue, restaurants pivot to delivery in plate optimized lunches. jason: hungry already. and facebook falling behind in hollywood. carol: we begin in remarks, opening the magazine is a reminder of a real and present threat. jason: we're talking about nuclear war, takes you back to hiding under our desks, but it is still out there.

guest: there is a date in the near future, february 2, where the nuclear arms treaty will not be re-signed by president trump. that opens up a window into a continuing problem in the world, which is the nuclear arms race. we thought that that was over in the cold war and we're in a new version now. carol: it takes a long time to get there, but it kind of keeps people in check. guest: what's happening is that as these trees expire and don't get renewed, there is a whole new brinksmanship that starts to develop. carol: this article reminded me that most of the nuclear weapons are owned by united states and russia. guest: that's what we've talked about for decades, that this brings the chip also brings in

china, and emerging power. there's also the ability to talk about nuclear wars in this context. jason: and we can't forget north korea, especially now that we think president trump and later -- and their leader may get together again on this topic. guest: it's a complicated topic because everyone has a different power dynamic. also, compared to a conventional warhead. nuclear warheads, for the amount of atrocity it unleashes, it's kind of an economic advantage for north korea. all of these things unfold. and it's about to happen over the course of the next few months, as these trees -- these treaties gets signed. carol: a fascinating story, no to add to our long list of -- another thing to add to our long list of worries out there. we've got more on this story from our economics editor. >> a very important treaty was signed in the 1980's, the intermediate range nuclear forces treaty, and that banned missles of a specific range.

and it ended when reagan and gorbachev signed this treaty. it was a major step away from the brink of nuclear war. it was really a good thing. carol: i remember all of the protests. no more nukes. that was important. >> right. but that's when we started backsliding. in 2002, the u.s. pulled out of the anti- ballistic missile treaty because the united states wanted a missile shield. we couldn't have one as long as there was a treaty. carol: and that was to prevent missiles from coming in? >> yes, it was kind of that star wars thing. and that turned out it was not easy to erect an anti-missile defense anyway.

the u.s. was out of that treaty. and then there are two remaining ones. on february 2, that is scheduled to expire. u.s. announced last october that it was pulling out. it gives formal notice on the second and then six months after that, it becomes a dead letter. carol: why does the u.s. wants to pull back on it? >> russia has developed a cruise missile that seems to be within that range of 500 or 5500 kilometers. the russians deny. they say that it doesn't have that range, but the americans and nato seem to think the russians are lying. carol: right. >> so that's one reason.

why should only the united states be bound by this treaty? another is that china was never a signatory to the treaty, so china is free to do whatever it wants in range of missile. the u.s. feels that it needs to have missiles in east asia to offset china. and would be freed to do so if we were no longer bound by this treaty. carol: what's interesting is, is that you need these treaties to keep everybody in check. otherwise, without them, you kind of say, let's have a new arms race. everybody can kind of build up their arms as they see fit. >> right, so, there's no perfect treaty. there's always going to be treaty and you always worry that having the terms locked in is an advantage for one side or the other. but if you get rid of the treaty, as you said, there's nothing. and as imperfect as the treaty is, it at least allows the u.s. to inspect russian missile sites and you get some transparency. that would completely go away. carol: it's funny, though, that

you said that china is really the long-term threat to u.s. dominance. but at the moment, it's russia's very weakness that makes it so dangerous right now. >> nukes are, as we can see with examples of north korea and pakistan, fairly weak economic countries, but they have nukes. carol: you call it the great leveler. because they're not that expensive. >> the great leveler in two senses. one, they level everything to crash into, another is that they provide a way for poor, weak countries to bring themselves up to the level of a stronger country. and that's kind of why everybody wants them. carol: just ahead, a new kind of gym for runners. jason: plus, marie kondo's tidying empire. carol: that's a story for me. this is "bloomberg: businessweek." ♪

♪ jason: welcome back to bloomberg businessweek. i'm jason kelly. carol: and i'm carol massar. join us for "bloomberg: businessweek every day on the radio. you can also catch up on our daily show by listening to our podcast and businessweek.com. jason: and find us online at businessweek.com and our mobile app. over to the tech section, facebook watch is struggling. carol: and you kind of understand why, jason, because a lot of us don't even know what facebook watch is. jason: our chart breaks it down. "never heard of it" rates in at 40%. close to 0% is "uses daily". carol: the crazy thing is the

amount of people who use facebook regularly that there isn't more of an impact. it's rather shocking. jason: we also note that original content is doing well in other places, be at netflix, amazon, or youtube. >> facebook watch was conceived to be the thing that would bring people back into this experience, the way they have when they are watching youtube or netflix. they pick a show and spend more time in front of facebook. it has it's really worked out -- hasn't really worked out that way. it's been an afterthought for users. there's this persistent red dot, people don't even know what it means.

when they click it, they get a confusing sea of videos. carol: what do they hope and why are they doing it? >> back in 2015, facebook was very proud of its 45 minutes a day on average it was getting from its users. but those 45 minutes are being segmented into, on average, less than 90 second sessions. so people were looking on facebook when they were standing in line or on the toilet. people managed to make a gigantic advertising business out of the slices on your day when you really want to doing anything -- weren't doing anything else. what facebook needed to do to grow was to move into the parts of your day that are more planned out. the time you're sitting down watching tv is a good place to start. facebook thought they could go out and buy high quality video and people would watch it, but so far they have not had a hit. they don't even have shows that anybody has heard of. if you have never heard of

facebook watch, you are not alone. this is something that's faltered, even though they spent more than $1 billion on trying to get content. jason: what's the biggest gating factor? >> people on facebook are in a passive experience, they want to be entertained, they want to see what is happening, and then go on with their day. they don't want to hang out. now that could change. we didn't think of amazon as a place to watch videos, but now i go watch shows on prime. you didn't think you would be necessarily watching full shows on youtube, but some people spend hours of their time on youtube every day. carol: what was facebook's intention? because it's not a fun watch when you click on that red dot. >> well, zuckerberg, when this started in 2015, he was very adamant that there would be no pre-roll advertising.

that's what you see on youtube before your video even starts. i don't know about you, but i pretty much look at the corner and try to wait for the timeout until i can click. that's something he didn't want for facebook watch. but it's hard to get to advertising projections without that. they started for the advertising called mid-roll, which interrupts your video. now they're starting to move into more modes of moneymaking. they have little banner ads at the bottom of the video, sometimes they have pre-rolls. they're also trying to do branded content when advertisers pay for a branded video and some kind of subscription services. so there are a whole lot of ways, ultimately, the goal for facebook is to get them to a level of moneymaking that the content creators on watch will just want to create content without being paid by facebook up front. so they'll say i have a big

enough audience on facebook that i don't even have to get their check ahead of time to know i want to invest. so far, we are very far from that future. carol: now to something people are watching. jason: they certainly are. marie kondo, she's in the midst of a media blitz about tidying up. carol: the guru is helping people discover what sparks joy. jason: speaking is jim ellis. the netflix series has really, really made her teachings take off. though she is extremely popular, she's got two best-selling books. her first book on decluttering has been on the new york times bestseller list for 150 weeks. carol: unbelievable. jim: it is unbelievable. it sort of taps into something more than just keeping your house clean. i don't want to keep my house clean. carol: i have to say, it came to my attention when i first read an article. the whole idea is you're

supposed to pick up something and say, "does this bring me joy?" if not, you are just supposed to throw it out. jim: it's a very different way of thinking about products, goods, and things we had. most of us buy things because we enjoy shopping, and we enjoyed having things. what she preaches is you should think of your possessions as temporary, unless they bring you real joy, or as she says, sparks joy. in america, even more so than japan, that's new phenomenon. so a lot of people are using it to ask, what's important to my life? that's interesting, and in some ways, is a lot more than a home improvement or organization philosophy. it's one about how do i live my life? and that's what netflix has picked up, of letting her go and talk to families. it tells you a lot more about

the family and then it does about the cleaning process. carol: let's talk about that. i've watched a couple of episodes and i was surprised. she's speaking japanese and they have a translator. and that's how they do the program. jim: it's unusual, this notion that we can have dual language, particularly a dual language that a lot of americans don't have any clue what things mean. but that's a testament to netflix and their strategy of trying to take content across markets. one of the things they have done in expanding globally is looking for things that will be hot in markets and has crossover potential. carol: at the same time, you really have the business strategy of marie kondo. on the one hand, she's selling her book, but she also has these consultants and strategy sessions. jim: you could be a mini-marie. [laughter] carol: my husband wishes i was a mini-marie. jim: you can sign up for these sessions that she does, and you are basically trained. you can go through training and learn how to be a consultant. that's trademarked. their plan and have a sort of teaching to think about this and

how you can help other people sort of de-clutter their homes and de-clutter their lives. it's actually not as expensive as you'd think, it is less than $3000 in training. but then you pay her a licensing fee, $500 a year. some people have turned this into real businesses. carol: up next, forget farm to table. it's now about farm to desk. jason: and a glorious comeback. carol: this is "bloomberg: businessweek." ♪

♪ carol: welcome back to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly. you can also listen to us on the radio on sirius xm. in new york, boston, washington, d.c. -- carol: and 960 in the bay area, in london on dab digital, and of

course, the bloomberg business app. this change is overhauling its delivery method. jason: it's being closely watched by the whole industry on the cutting out the middleman to deliver directly to customers. carol: we got more on this story reporter elizabeth dunn. >> dig in is a fast casual restaurant based in new york. it's very popular, it has expanded to boston, as well. they serve that sort of veggie focused grain bowl salad type of thing everybody is doing. you walk up and assemble, you get little bit of grain, some chicken, a little bit of vegetable. you bring it back to your desk, and that's your lunch. and they've been doing more and

more meals for delivery. and in some locations, as many as 30% of sales are delivery. carol: and it's good, but also bad. >> it's a lot of revenue they would not have otherwise had, but the profitability is not as good as in-store. carol: explain that. >> if you order from any of these third parties, they charge you usually a delivery fee, but they also charge the restaurant a huge portion of the revenue. sometimes 20% or 30% of that bowl will be going to uber eats. that's difficult in a business where margins are already tight. carol: you were talking about how digital delivery is going to be a bigger and bigger peace of the restaurant space. >> by 2022, they're saying it could be 10% of all sales. every restaurant everywhere. so when you're talking about a counter service lunch place come it could be closer to even 40%. carol: so what's a place like dig in doing?

>> they've been proactive in thinking about delivery. they realize this isn't going to go away, so they have to change the way they operate to make this a better experience and more profitable. jason: one of the things they're doing is this idea of gaming out the temperature of the food and cooking it in a way and placing it with the different foods so that it essentially keeps cooking as its being delivered. >> it's a little kitchen geekery. they have an engineer and a chef working just figure out how do you cook food that gets possibly better as it travels? and so it stays warm if it's mostly warm, stays cold, and the if it's -- stays cold if it's supposed to be cold, and the temperatures and textures are what they should be. carol: i think of something like a sweet green and its so efficient. this is what restaurants are doing. they're trying to make their app

works so well that they don't go to an uber eats. >> it's protecting margins, but also the relationship with customers. we think of online travel agencies that, 10 years ago, really started to get in between the hotel or the airline and their customer. the same thing is happening for restaurants. they're saying we don't want to send a loyal sweet greener or dig in customer over to grubhub where they will see 10 options for lunch. jason: st. barts is getting a reboot. carol: getting the jewel. jason: addictive workouts. i love it. .cold fitness classes are going global. >> we talked to mind-body, and an app that books a lot of these classes about what are the most popular and repeat classes? we tried to learn why people want to go back.

and a lot of the times, it is the community. jason: which ones should people know about? >> there's a lot you sort of hear about soul cycle, flywheel, we look at new and up-and-coming ones. switch playground, where you go with a friend and you partner exercises. there's one called training mates, which came from australia. jason: one you have mentioned, the mile high running club with the dirty 30. it's a very intense, treadmill based, is a hard running workout. you definitely feel that you have got your sweat on. >> treadmill workouts are amongst the most popular. we have a lot of these hiit exercises. parisians are exercising in london, in a way, but even they are spinning off a running class called rescission run from their -- called precision run from their gym's into their own

studio. that was actually just announced this week. carol: i thought it was just coming from new york, l.a., but it's all around the globe you're saying these kinds of workouts. >> we sent some people in the hong kong bureau to one in hong kong which had these like 3-d graphics on the floor. it lights up when you're supposed to touch during yoga class. it can be quite technology forward. carol: you also covers some colorful watches. >> colors of the rainbow. two weeks ago, i was in switzerland at this watch trade show where all of the brands show their new stuff for 2019. and a couple of brands have these watches with a rainbow colored bezel. precious stones arranged in a rainbow formation. and it's very blingy and bright for a company that's kind of conservative.

it was a little bit of surprise. the pieces are very popular and very expensive. jason: tens and tens and tens of thousands of dollars. >> yeah, and rolex watch one last year that was $96,000. i took a picture and ask to like this kind of thing? people were like "oh my god, i want it." this is very expensive. jason: st. barts. it's back, obviously devastated in many ways. but we made the journey, and just reading this, the place is pretty amazing. and the comeback is amazing. >> after the hurricanes in 2017, a lot of people don't know that a lot of the hotels went off-line for that season so they could really redo everything. this winter season is the first time everything is really back. eagle rock isn't even totally open.

but right now is an awesome time to go. everything is similar but is refreshed, a new coat of paint and some cool places to hang out. carol: "bloomberg: businessweek" is available right now. jason: your must-read, i know what it is. carol: it's the cover story, what a great deep dive into what is going on with carlos ghosn. it feels like just a trickle of details have come out and it's the first time you get an understanding of what's been going on behind the scenes. jason: it's a great reminder that none of this is what seems to be. it's very complicated, carlos ghosn coming out and speaking for the first time. also you have the president of france weighing in. this is far from resolved. for sure. carol: he is still in jail, so there's more to be had here and to find more stories on businessweek.com. you can do that over the weekend. jason: and check out our

podcast. you can get it on itunes, soundcloud, and bloomberg.com. carol: more bloomberg television starts now. ♪

>> welcome to daybreak australia. shery: i am shery ahn in new york. we are counting down to asia's major market open. haidi: here are the top stories we are covering. banking on change. australia's lenders brace for impact as he will commission dishes is report on financial misconduct. is optimisticp deals will be done with china and north korea. he will meet with xi jinping at the end of the month. and the white house