>> steve weiss. >> not going to get involved in that. >> of course not, up 10%. >> but it's also down 50%. >> steve weiss, final trade? >> just saying. >> jc penney, short. >> okay. simon baker. >> you know on the back -- >> quick. >> network appliance going into earnings next week. >> that's quick. have a great weekend. see you on the other side. "power lunch" starts now. >> "halftime" is over. "power lunch" and the second half of the trading day start right now. scotty, thank you very much. the dow taking a bit of a hit. not as bad as it was earlier. we're down on the day by about 90 points but we were down more than that, 150 points or thereabouts. are we getting close to a good entry point for all that money that is still sitting on the sidelines? and he is really angry, mr. ackman is. bill ackman's next big call. he wants jc penney's chairman of the board of the out and wants to replace the ceo i guess. really turning up the heat in that ceo search.

scott wapner has been all over this one, and he'll join us in a minute. terrible flooding out in the middle west. this is a ferrari. what a terrible waste, ladies and gentlemen. a ferrari is a terrible thing to waste. unfortunately, though, the damage goes far beyond that car, and that is just ahead. the rains have been coming down there. meantime, to sue at the nyse. >> thank you very much, ty. well, ty showed you the dow. this week has been a rough week for the bulls. right now the dow is down 89 parents, but it was down better than 150 at one point in the trading session, and we've had a significant percentage loss on the dow. right now the s&p and the nasdaq both fighting against the bulls in today's trading session. the s&p is down about a quarter of a percent and the nasdaq is down just a fraction. looks like it's trying to tick positive. the russell 2000 is positive. it's in the green by about 1/5 of a percent and in terms of interest rates we've seen a big drop in the ten-year yield, 2.59% on the ten-year. as for brent, last trade, up

about -- better than .75%. west texas intermediate is up almost a full 2% and the gold market is up $2.90. bob pisani joins me here on the floor. i'm really glad it's friday. tough sledding. the market has had a lot of headwinds. >> the trend line slowly to the downside. put up the dow jones industrial average, had the same pattern yesterday. this bowl-shaped "v" dropping down just before the noon at the bottom and then turning around. if you look at the dollar, and every to imthis happens, whenever the yen bottomed at exactly the moment. that's the yen strengthening. goes up, that means the yen is weakening. when the yen starts weakening the market turns around. i think there is some kind of relationship. here's where i think we're at in the markets. number one, i think that the -- this overall, the issues are japan and the u.s. are a bit on the stretched side. china is improving and europe is

in bit of a sweet spot. that's the important thing right now. money is sort of flowing in. there's the point here. japan and the u.s. stretched, and i think some people are not comfortable with the economy and earnings take stocks higher. china getting better and europe looking. that's been attracting money. there you see steel, miners, second day in a row in group is up. good economic news out of china. one last thing, sue, the home building rally, real estate may completely keep going up, hopefully it will, but the home building rally going nowhere right now. the stocks hit highs in may and right now the home building index is at its lowest level of the year. >> on the year, yeah. >> a big group that's essentially rolled over. >> as they said in tandem. thank you, bob pisani. do you get into this market right now. cnbc contributor abigail doolittle joins us on the floor and jim is out in chicago. abigail, you look at the numbers

and the patterns and the technicals. what are they telling you? >> right now i'm reminded of a great quote by warren buffett. the time to get greedy is when others are fearful and the time to be fearful is when others are greedy. i don't look at this environment as greedy. we're seeing a lot of trade together upside with complacency. it tells me that investors may not want to get in at these levels for three reasons. first, we've really come too far too fast, up nearly 160% in just a little over four years. >> isn't that amazing? >> yes. this market needs to catch its breath. second, much of it is driven by the fed. what if the fed does taper and all the other central bank support around the world? we don't know if that kind of aggressive support will work in the end, and i don't know if investors need to subject themselves to that at this point and a weak macro environment that's starting to bleed elsewhere. coca-cola, fedex, ups, they have missed and slashed. even had ups saying that the global economy is slowing, so i

think at this point you don't need to reduce exposure, but i don't think that there's any reason to add it there. >> jim, what do you think of those arguments? do you agree with abigail or not? >> i like most items. i can't give an enthusiastic thumbs up to the stock market after 150% rally in four years like abigail said. however, i don't think there's a ton of other options where to put your money. if i was one of the analysts and used words like underweight, that would be my exposure to the stock market. absolutely you need exposure to the stock market. somebody said to me, today, well, wouldn't you want to sell stocks in a rating environment and i thought, yeah, here's the problem, is if you're the guy who is leading the charge on the short side, the second that market really starts to tank, that's when the fed is going to announce that they are going to increase qe and not let it decrease and try to engineer lower rates. we're only in a raising rate environment if the stocks are stable or rallying in my opinion. >> what do you think? >> you know, i am one of the rare people on wall street that i do not think that rates are going higher from here.

there are a lot of guys on the street. think the ten-year is going above 3%. i think we're going the other way, down towards super sets. >> so far today you're right. >> in a period of congestion so if we break below 2.41 on the ten-year i think we'll break down and it will reflect the anticipation that the fed will have to stick around. the dollar index is fine. >> go ahead. >> you said 150% in the last four years. have there been times along the way when you said to yourself, gosh, the market has rallied 100%, we've got to correct now. there's been instances and the fed has your back, yes? >> the fed has had our back the whole rally and i think that will continue to be the case and that's why we're going to see the ten-year follow the dollar index and probably we'll see a little bit of rally in treasuries ahead. >> thank you both. a rate t.ty, up to you. >> thank you very much, sue. a developing story. this one is fun to watch. bill ackman, the activist, trying to push jc penney to do

something. shares down 20%, down 5% today alone. very active. in a year down 41%, this as ackman sends a new letter to jc penney's board of directors urging the board to meet as soon as possible. it is filled with grievances from acman's point of view, he wants them out. jc penny is at a critical stage in its history and its very existence is at a risk. i have lost confidence in our chairman eats ability to oversee the board. i would therefore recommend that tom be replaced as our chairman. scott wapner has been leading the coverage on this story. and stacy joins us from london. let me start with you, scott, if you don't mind. what is jc penney's response, so far as we know, to this ackman salvo? >> i spoke to a source and some

of the accusations and facts laid out in mr. ackman's letter is incorrect, that the board as a group has met on certain circumstances to discuss some of the issues that have been raised in bill ackman's letter. it's a long letter. >> a really long letter. >> one that he sent today which lays out a number of things, that executives have been hired without the full board being made aware. he's chairman of the finance committee, that he read or found out in a press release about the hiring of a new marketing executive, one i might add that has been criticized if for no other reason than this particular person has no retail experience whatsoever, that they have come -- >> that's just one cample. >> all right. stacy, let me turn to you, if i might. when you have this kind of opening revolt, shall i say, on a board of a company that has spilled over into the media in a big way through the reporting of scott and others among many. is this good news for shareholders or good news for shoppers? >> you know what, it's not.

it's just not productive so throwing a tantrum in public to get what you want does one thing. this company is at a crossroads and is in serious trouble. causing a distraction in the media, hurling accusations at the board and management, calling for new management right before the key holiday season, this is a complete distraction to the current management. they need to focus and get through holiday and reassure vendors so playing this out in the media probably not the best way to do it right now. >> some people, stacey, might say, and scott, i'll get your reaction, that jc penny is a company in need of disruption. it wasn't working, and mr. ackman is disrupting. >> i was just going to say don't desperate times call for desperate measures? the stock market, stacey, has been voting on almost a daily basis that something is wrong, right, that whatever their strategy, is whatever their leadership is doing doesn't seem to be working. you can call it a tantrum what

bill acman has done by sending these letters, but maybe the situation has just gotten so bad that this is what it takes to get the board to make the kind of moves that need to be done. clearly that's the case that mr. ackman is making in both of his letters, that the situation has simply become too dire. >> and he's got real money on the table, a lot less real money than he did when he put his money into it. stacey, your reaction? >> yes, obviously this company is in serious trouble, but let's not forget who put this company in serious trouble, ron johnson who ackman hired. that's fine, that's history. ullman has only been around for four months so to suggest that the situation should have been turned around in four months, that he could have righted the ship in that amount of time, you know, i just don't think it is reasonable. yes, the plan is to look forward and look for a new ceo. the problem is when you play this out in the media like this, a ceo that's running a company that has a great track record

who could help this company is hesitant to come in with all of this animosity, so i think that's -- that's one of the key issues. >> all right. stacey, thank you very much, stacey widlitz joining us from london. scott, we'll be watching this all weekend. that letter is something else. >> not the last thing that's going to happen. >> thank you. >> sue, down to you. >> yeah, that story keeps on giving, doesn't it? all right. another big story today is blackberry. right now the shares are up 7.5% because there are reports the company could go private. seema mody is following the story for us and is at the nasdaq today. hi, seema? >> that's right. blackberry on the move. the company's board is said to be warming up to the idea, and no deal is imminent and blackberry has not launched a sales process. disappointing sales and earnings, the street has been discussing whether blackberry should partner up with a larger tech firm or going private.

in fact, during blackberry's latest shareholder meeting heinz was asked if they should break it up and he said, before you go into strategic options you have to create value. just to put that into perspective shares are down more than 80% since the apple iphone was released in june 2007 equating to a market cap loss of roughly $30 billion and over the last six months short interest as a percent of shares outstanding has been steadily increasing now at 35%. tyler, back over to you. >> thank you very much. we appreciate that. seema and scott and i are still talking here about ackman, et al. priceline closing in on $1,000 a share and josh lipton has the flash desk with a deal for us. >> we're watching prideline hitting a new all-time high today. the online travel agent surpassing its previous record of 990 in april 1999.

that stock moving sharply higher, now up some 60% so far this year. now this is a real comeback story. remember 2003 priceline.com almost history, trading below $2 per share and had to do a reverse split. after the bell yesterday, priceline reporting results that beat gross bookings up 38%, international bookings jumped 44% and domestic bookings jumped 12 pass. raymond james, cantor fitzgerald, lazard raising their price targets, calling the results very impressive and calling priceline a premiere internet franchise. it looks like today at least investors agree. sue, back to you. >> a very different story, josh, on shares of dandion.

they c and redbush put a zero, yes a zero price tact on that stock. dendreon is already down 30% year to date, again, down 24% at this point. back up to josh lipton at this point. >> have a look at some of the coal miners, peabody energy, james river, they are ripping. talking to some analysts and they are saying we're seeing positive data points out of australia. in terms of price iing reports suggesting that spot met prices, prices for coal used in steel production into china, have jumped. analysts say that chinese are opportunistic buyers and tend to buy in binges so maybe the chinese are calling in and picking up coal relatively cheaply. could be seeing inventory restocking here which does tend to happen, analysts happen in fits and starts. back to you. >> big trends developing when it comes to newly built homes. we've got that story next. plus you've heard about the

great rotation. another rotation to tell you about. that's two minutes away. we'll keep you guessing. we'll be right back.

now to the reality check, big numbers from one very big subseeks of the house of market. diana olick live in washington with the details. >> reporter: hey, sue. the numbers are for the home builders as rising mortgage

rates start to wear on the housing market. one bright spot may be for the builders and rising rates aren't good news for them but they could be able to weather them better than the existing mortgageablegationed. jumped 14% according to the bankers association. this is a big gain given that rates are significantly higher than they were three months ago. based on the applications it's estimated that 43,000 newly built homes were purchased in july so the builders have an advantage because they can tailor their homes to what their customers want. if rates are higher and customers can't pay as much they can build the homes to what the buyers new. that's what one exec told me earlier today and they have something to sell. they can also help buy down interest rates as part of the deals. this comes as analysts say higher rates are taking their toll on the existing home

market. they found a sharp rate in mortgage rates has led to a pause in demand and the initial agency that they saw from some buyers as rates moved up have now subsided and buyers are stepping back to re-evaluate their options. tyler. >> thanks very much, diana. if you're looking on ideas where to invest from now until the end of the year our next guest has some ideas. he managed overseas $2.4 billion in assets as a senior global portfolio manager with the jpmorgan -- with morgan stanley. got the wrong morgan in there, a company that shall not be named. >> welcome, let's talk about your view of the u.s. market is. down this week and the roughest week in many for equities. should i be worried is this an expectable breather. >> 20% rally year to. >> date wouldn't be strange to

have a breather. there's not a lot of corporate news and when the focus turns to d.c. that's when the anxiety builds. >> d.c. in two ways, one is the fed and the other is gridlock. >> all the political kengss around the world. >> political tensions. >> you make the argument that over the intermediate or longer term that you think u.s. equities are a good investment, why? >> because we're in the early phases of the second part of a bull market which is in the first stage everyone is sitting on the sidelines so the only thing that moves the market is earnings so from 2009 to the end of last year the multiple of the market didn't go up at all but now we're in the. >> second stage with people coming back. expansion is not that much. >> on a forward earnings basis.

>> 12.5% to 14.5. >> and it could go to 16, 18. >> that could be consistent with history so all the people who have told us this time is different they have really been wrong. >> since they are wrong so far shouldn't we see more expansion. >> you also think japan is a target of opportunity, why? >> if you look back to 2009 when we started the qe programs, the economy was in a fupg, but low expectations and a very accommodative fed. the market hasn't done much for quite a while. >> the japanese market. >> i think they are earlier in the game and they have a leader who has consolidated power without the gridlock in d.c.

>> that chart shows the volatility. >> you've got to strap on the market. >> pullback for the opportunity to get in. >> without getting too technical a lot of people worry about the currency moves in japan, that you have to protect yourself against that and hedge the currency, what's your view? >> hedging the currency actually makes the investment in japan riskier. the leadership's goal is to lower the value of the yen to pep the exporters. >> if he's wrong the equity market will go down but the yen will rally. >> and you get whacked two ways. >> so if you hedge the currenty. >> let me steal you back and do something i know you hate to do.

15,427 and 1693 on the s&p. do you think that those two indexes end the year higher than today? >> yes, yes, i do. >> i'm not so sure from now until labor day they will be hair, but, again, i could back it would be inconsistent not to believe we'll have further pe expansion. >> thank you. >> i know what company you work for. >> in today's ya finance question of the day, we ask do you think the u.s. is still the best place to be investing? >> right now 73% of you say yes and 5% say no. it's japan. 8% say it's europe, and others say it's the bric nation. >> big problems for tiger woods. could i have putted into that hole. you won't believe what's happening to his home. plus, what a waste. a ferrari caught up in floods

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and a 30-tablet free trial. as you probably know, tiger woods is playing at the pga championship near rochester, new york. but his home in jupiter island, florida, is in a world of trouble. there are reports that say tiger started noticing that the doors were scraping against the floor and that there were cracks in

the walls. well, now some think his house, a $54 million $12-acre home right between the atlantic ocean and the intercoastal waterway is sinking. contractors are on the case, but someone familiar with the issue said, you know, when you put a heavy structure on wet ground, things tend to settle. we wish hip the best of luck, and also those in the midwest, water is also posing a major problem for people living in about a dozen states in the united states. heavy rains causing flash flooding in colorado yesterday, and in parts of tennessee, this was the scene yesterday. rescuers had to be called in to help scores of people escape the flooding in wilson county which is just east of nashville. too much rain also causing major problems in missouri. this video is from holster, missouri where about 100 families had to be evacuated. and take a look at this. what a waste. it's a ferrari caught in the flooding of reno, nevada. ferrari and flooding, they

certainly do not mix in any way, shape or form, ty. >> no, indeed. >> look at that van trying to go through that. >> that's so dangerous. >> don't want to do that. >> two days after evacuating americans from yemen they order all non-essential staff in lahore out of that territory. the state department is also warning americans not to travel to pakistan right now. two dozen u.s. embassies in the middle east and africa have been closed because of the terror threat. the massive fire destroyed a national airport in nairobi, kenya, africa's largest airport. there have been no reports of terror but this did come 15 years to the day after the attacks on the u.s. embassies in kenya and tanzania. today the airport is trying to reopen, but there are reports of widespread confusion there, massive delays as people including many americans tried to get out of the country. >> today at 3:00 p.m. president

barack obama will hold a news conference. watch it right here on cnbc and yesterday some of the biggest names in technology quietly arrived at the white house. eamon javers live at the white house. >> reporter: apple ceo tim cook was at the white house according to a story broken by politico and confirmed by white officials and the ceo of at&t was here. what they were talking about in specific, not real clear and the white house official telling us generally they were talking about implications for security and technology. now we can assume that this is all in the post-snowden era. we're expecting to hear more from the president on this subject at 3:00 p.m. today, as you say, in the east room. giving a press conference. you can expect he'll be badgered by questions. the "wall street journal" is reporting right now that their sources are telling them that the president will announce some sort of reforms or changes in u.s. national security surveillance policies at this press conference at 3:00. we'll have to wait for the special fix on what exactly

he'll announce. >> we're going to scott wapner for breaking news. >> thanks, tyler. more regarding jc penney now. an official statement by the current chairman of the board of jc penney, the very man that bill ackman would like to have removed and replaced by allen questrom. here's what the statement says, the board is focused on the important work of stabilizing and rejuvenating the procedure and is following proper governance procedures and members of the board have been fully informed and are making decisions as a group. this includes the ceo search process which is being conducted at an appropriate pace. the board also continues to actively oversee management as it conducts the important work under way to rebuild the company. mr. ackman's statements are misleading, inaccurate and counterproductive. now, tyler, earlier we report that had according to a source close to jc penney some of the very things that are now in this official statement from the

chairman of the board of jc penney, the latest development in this ongoing drama. we'll see what else develops between now and the end of this friday, but for now that's the latest. the stock is down some 6.5%, and we continue to cover this developing story. tyler? >> thank you very much. a war of words and a war of big dollars. thanks very much. sue, down to you now. >> thank you very much. gold prices closing right now. sharon epperson is closing the action for us at the nymex. >> the final trades have come in here in the gold market, and we are looking on a slow quiet friday as a slight rally here in gold or at least a little bit of an uptick going to the close. we're at 13.12 an ounce, up $2 or so. just a tiny bounce here, but we are looking at prices that are at least higher that be the close last friday, again, just by a touch. we have seen quite a bit of volatility in the gold market in this week and a lot of action in platinum as well. platinum now at a premium to gold, the highest we've seen in two years.

back to you. >> all right. thank you very much, sharon. the trading action here, bob pisani. we're improving at 150-plus points. >> the same pattern as yesterday. the same thing, doing it again. take a look at the dow jones industrial average, and you'll see down and we've been coming off of that bottom there. i want to highlight what's going on in ipo land. a very unusual situation. six ipos priced overnight and normally deadville in august. hot stock market, hot ipo market. that simple. two themes forrinio software in the cloud. cvent price, prices at $21 and opens 38 and software in the clouds, hot topic. second hot topic, master limited partnerships. oil and gas pipelines in general that pay dividends. qep mid stream priced at 21 and opened at 23. world point terminals, a little

disappointment, priced at 20 and opens at 19.50. because of what we've got take a look at cvent, the market weakness of the day brought down a little bit but still looking very good. same with mixed telematics and still down a little bit from the initial open and frank's oil company, a great oil company, opened at $22 apiece. >> you said you were up all night trying to wrap your head around the numbers. >> incredibly crowded. >> have a great weekend. thank you. to nasdaq where seema mody is following the movement in techs. >> dendreon and priceline with upbeat earnings, a gold miner moving to the upside and blackberry entertaining the idea of going private as we discussed before, that stock continuing to trade in positive territory.

monster beverage getting a pop after reporting disappointing earnings last night. also volatile session for chip stocks. nvidia moving lower. its earnings did not satisfy wall street. back over to you, sue. >> thank you very much, seema. >> all right. the interest rate question has been very interesting and so has the currency fund. an update on both with rick santelli. almost at 2.5% again. >> yeah, you know what in the auctions were the highlight of the week, even though they were lowlights in terms of great. like summer reruns on the treasury market. today looks a lot like yesterday. one-week charts, a long way but close to unchanged. the scaling on that chart is only six basis points. get a two-week chart. that captures, of course, one week ago when we had some action on the jobs report. the last charts where all the action is. the euro currency, 1.34 and weakness in the dollar, a foreign exchange week, so say the technicians. sue, tyler, back to you.

>> mary thompson and robert, stories for us today. mary, you get to go first. >> the highest paid ceos, believe it or not, they are making -- they are not making what you think they make. >> are you going to tell us? >> i'll have that story. >> cue the violin. >> cue the violin. >> i want to tell you about the latest rage in high-end real estate, turnkey mansions. what's behind those magnificent doors coming up right after this. geoff: i'm the kind of guy who doesn't like being sold to. the last thing i want is to feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a financial consultant with charles schwab. avo: what kind of financial consultant are you looking for? talk to us today.

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welcome back to "power lunch." i'm scott wapner back with yet another development in the ongoing saga involving jc penney. earlier i described it as a barroom brawl or a board room brawl, and as typically happens you have a punch and counterpunch, the counterpunch coming from the chairman of the board that put out a statement we read a short time ago saying bill ackman's statements have been misleading and counterproductive. now, bill ackman telling me a short moment ago our letter is entirely accurate in all respects and we look forward to

meeting with the full board to discuss the future of the company. >> our letter entirely accurate in all respects. we look forward to meeting with the full board to discuss the future of the company. that comes as two letters from mr. ackman have gone to the board. late yesterday afternoon on the close of wall street. >> there's been a bit of a back and forth and howard schultze of starbucks getting involved in that mike ullman, the current ceo of jc penney, sits on the starbucks board and howard schultze struck out yesterday at bill ackman as well so this board room brawl, business really what it's become continues, and this is the very latest from bill ackman. >> really amazing. you don't see these kinds of

things erupting in the media the way this has. thanks very much. two big money stories, robert frank on ready-made mansions. but first mary thompson on the ceos that can afford the ready-made mansions are making. >> they are the only ones that can afford them. what's in the proxy and what the ceos can be very different thanks to option and stock dwran grants that rise and fall. that makes up the total ceo pay, realizable pay, not actual pay is in their portfolio rather than the pocket. the 100 s&p 500 with the greatest realizable pay over the last three years and how much less or more it is in some of the target pay. topping the list, the ceo of lyondelldasel.

number two, cbs's les moonves, his three-year target pay of 193 million, now worth 326 million followed by simon properties david simon whose target pay of 155 million now valued at 234 million. media is where the money s.five of the top ten highest paid ceos are in this business including dauman of viacom, number five disney's bob iger and brian roberts of cnbc and followed by david zaslaw of target. larry fink of the money manager giant blackrock and jpmorgan's jamie dimon comes in at number 48. as in dimon's case, realizable pay can fall below the target pay. the study's prime example oracle's larry ellison, a falling stock hurting his

options and cutting his realizable pay of 101 million to just 42% of his target pay. tyler, back to you. >> thank you very much, mary thompson. forget about customizing your home. the rise in foreign and wealthy foreign buyers has led to a jump in move-in ready mansions which includes buying everything in the house, including some of the things you would never think that these move-in buyers would really want. our wealth editor robert frank is here. >> thanks, tyler. they are called turnkey mansions, when a rich buyer wants the mansion and everything in it, tyler, i mean, everything. check this out. a mansion in tampa, florida listed at 12.5 million, wants the art on the wall, dishes, towels, russian, entire set of christmas nut crackers, three gas in the barrage, including a bentley and the frames on the family photos. luckily the owner got to keep the photos but these buyers they pay for the extras, but there's a lot of haggling that can go on

and that can threaten a multi-million dollar deal. this house in napa valley was about to be sold for 6.4 million. the seller wanted to keep this artwork featuring fish foesils. the deal almost collapsed over the fish fossils. the broker had to chip in $60,000 from her own commission and in new york we have the penthouse that sold for $7 million, and the contract included most of the furniture, the liquor in the liquor cabinet, the toilet brushes and two jars filled with m & ms. turnkey sales are soaring because of all the foreign buyers at the high end. they want homes they can move in right away without spending months shopping for furniture or god forbid shopping for m & ms. >> the picture and the frames on the family photos. >> yeah. >> that is amazing. >> sue? >> i get it all except the toilet brushes. really? ew, yuk, disgusting.

all right. would you believe that some people are paying nearly $500 an hour to have their kid coached just to get into kindergarten. guess where? we'll tell you about that and speaking of interviews, which companies are toughest at the interview process? all that in the "power lunch" rundown but first here's a look at t at the leaderboard of the pga championships. straight ahead, ice cream and success. he went from a desk job on wall street to his passion of ice cream and turned it into a success. escaping the cube coming up on "power lunch." before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations...

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more than a decade ago john schneider was dreaming of doing something else. that urge grew much stronger after his brother narrowly

escaped the world trade center disaster on september 11th. soon after that terrible day we came up with a sweet solution creating and selling gelato in customized flavors. turned out to be the perfect recipe for escaping the cube. >> i spent six years on wall street and i really wasn't happy. hi, i'm john schneider, founder of laborattorio spel gelata. >> my father built a lot of the carvel stories and the last one he kept. every summer i would work there. when i was 19 i started ciao bela. it took a good three, three and

a half years before i made any money out of it. by the fifth year a nice small business. i spent six years on wall street and i really wasn't happy. i was a trader for a year and before that i was at lehman brothers for five years. in the end it just wasn't for me. i had something that i missed, of having my own thing, not having to answer to a boss. i knew i wanted to start my own company again. i knew how to make ice cream and i knew there wasn't an artisanal brand that had come in and what we do is create flavors for chefs that want something unique. >> i love the coconut. >> there you go. >> thank you. >> my mom's been a very integral part of this company.

>> i label vanilla. >> we have quite a retail section here. >> but it's -- i was at the point where i was happy with a small income and a nice business that i could nurture and grow slowly, and -- and we're well over $2 million in sales annually. we work with your passion and the money will follow and that's what happened here. >> and his business keeps growing. more than 450 restaurants, hotels and other spaces now carry his ultra creamy creation. that's in addition to his lab on ludlow street, just a stone's throw away from here and there's always a line out that store. >> all right, sue, thank you very much. let's go to the power rundown.

a job interview these days consists of softball questions tell me a little bit about yourself and what are your strengths and weaknesses don't send your resume to google? you did a story on companies that have the toughest job interviews. what are they and what makes them so tough? >> a lot of the companies that make the list are consulting officials, tech firms and also companies you might not expect on there like procter & gamble made, it teach for america made it and rolls royce, but a lot of times what they are looking for is to see how your thought process works so they might ask you something like how much do you think ref two was made in the 2012 olympics and you panic and you say, oh, my goodness, that's a math question, didn't expect to be given a math question but looking at the process of how you tackle a problem, not necessarily the answer and there's two things, i talked to a recruiter at bain, and he said, one, it's that you are comfortable with numbers. won't start beads of sweat coming down the first mention of math but second of all a grip on the real world, $100 million,

wow, she's comfortable with numbers but that doesn't mean you actually know. >> robert, what's the toughest job interview you ever had in. >> >> looking today at different job interview processes and i would do well at ben & jerry's, go in and meet the co-workers and the dogs because it's a pet friendly environment and then the ice cream. that i could do. >> some work i did on the supermarket business, whole foods you have to be interviewed by the people you're going to work with on the team in the produce department, on your team in the meat department. topping number two, how about a job that pays $450 an hour that help kids get into manhattan's elite kgts. somehow i'm not shocked that people would pay that amount of money. >> there's a huge industry based on the anxieties of status-obsessed parents in manhattan, and it's the people who train your 4-year-old for the ebrds which is the test. the play date here, they are

saying, this could make or break your child. it doesn't. i was at a couple of play dates with my daughter and one instance there was one princess dress and five girls and they were testing to see, and, of course, there's always somebody that starts to throw a fit because she wants the dress, look, aside from the occasional monsters, it's not going to make or break the kid's teacher. the parents act it. >> here's the thing, i don't think any class is worth $450. i want the classes for the parents to stop turning out dance moms, pageant moms. >> love that idea. >> let's move on to sales evaporating. >> they all smell like sugar-coated teen angst. people buy them in droves but

we're really not going to know until the christmas season how they are doing. >> who wants to smell like bieber? >> bieber's girlfriend. >> i think we should just leave it right there. >> i love that song "blurred lines," by the way, love that thing. all righty. we may have some movement in the cbs twaime warner cable fight. julia boorstin has it next. ever, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. f-f-f-f-f-f-f. lac-lac-lac. he's an actor who's known for his voice.

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welcome back. i'm majoritiesin in los angeles. cbs and time warner cable are back at the negotiating table but still no sign of a deal. the two sides have made progress on payments for cbs' broadcast network, but they are still stuck on a key valuable issue, digit-at-distribution rights. the battle over digital rights is sending more cable subscribers to netflix, amazon and hulu which could drive cord-cutting and hurt both media giants in the long run. meanwhile, even,000 though cbs is not being aired in more than 3 million households did have the top ratings last night, "big brother" beating nbc's finale of "the winner is." now the clock is ticking.

the closer we get to the bigger sports weekend the more pressure there is to keep subscribers from looking to alternatives. sue? >> all right, thanks, julia. the end of the line for a vacation and tv icon next. golden opportunity sales event to experience the precision handling of the lexus performance vehicles, including the gs and all-new is. ♪ this is the pursuit of perfection. [ male announcer ] it's time. time to have new experiences with a familiar keyboard.

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who can forget "the love boat?" just finished its final cruise. "the pacific princess" was acquired by a turkish ship recycling firm for 3.3 million. look at it listing to the right, listing to starboard. it will be stripped for parts. renovation costs just too expensive, sue. bon voyage, love boat. you will surely be missed. >> that does it for us. "street signs" begins now. >> feel like you could just stick your head in the stand and your problems will go away except that they don't? three big-name stocks have been playing ostrich as well. jcp, blackbury and dell. 1,000 here we come. analysts slapping ever higher prices on price line. is that the right price, and so far this week snakes on a plane,