so. >> warren how about you? >> the option is i thinking it is clear to own equities. i don't think they are in crazy territory. but most of the time, stocks have been in the zone or reasonable over my life time. i think they are in the zone now and you said to me they are going to have to be long the 30 year bond and short for advice v vice versa. thank you for joining us. right now it is time for "squawk on the street". >> good monday morning. welcome.

plenty to chew on this week. although the big news of the morning we'll get to that. the ten year awfully close to the lows of the year. the 257 a lot of feds speak this we week. europe is in the red are and dozens die in the ukraine. fall out from the massive customer data breach continues. warren buffet this morning explaining the vote around the compensation plan and more. first up greg steinhoffel is out. target has named john mulligan as ceo while the company searches for a new chief.

>> but as time goes on, we are going to get down to the bottom of this. we are not going to rest until we know how that happened. but we are going to come out at the end of this a better company and we are going to make significant changes. going to remain an adviser as the search going on. i'm not sure he knew it was going to cost him his job. it has a good board. he has a good board and when this happened, it was surprising and very out of keeping with what we think of as target. earnings per share bounced back but i guess not enough but clearly the board felt this man couldn't handle this. i haven't got insight. you heard him say changes will come. but that is the case here and again, when you read these

releases sometimes you can tell there is some succession plan but in this case it was see you later you are fired and the cfo will take over for now and we will initiate the search and do the things that they have been doing. we talk about how one of its main roles is to have a success plan in place. that is the cfo. they have had outside of the breach itself. they haven't had good numbers for a long time. walmart is challenged but in the end they haven't done that well. i have been disappointed in target for some time. this company has not had a vision for a long time. >> and well, how do you deal with a company in transition in the main executive roll? what is your approach to it

given the fundamentals in the business. they hope being in the back mirror but whatever hang over there may be. maybe this is an opportunity to refresh? you can't beat the clubs of that model. you can't beat the specialty stores of that model. maybe they have to rethink what they are doing. is it as much fun to shop at target. a lot of people remember are when target was the discounter you kind of gravitated to. groceries you have competitors doi ining better than you are. >> do they offer better prices or better electronics than best buy?

no. kohl's, kids don't want to shop there. >> i did shop in target this very weak eweekend. >> we were in aberdene for a baseball tournament. it was good nice and empty. >> we have a deal reached between sotherby's and daniel lowe seeking to appoint three members on his board of directors. we have a deal in which the three nominees from mr. lobe will be on the board of directors are nominated for the board. that is harry wilson and reza and the two nominees from

sothebys will be expanding the board. so you have the slate which will include dan loeb. it is a win for mr. loeb. this has been a hard fought battle. this was reminiscent of his earlier days before he reached institutional size well in it's nastiness and cleverness. but this has been a hard fought battle. backing two of its nominees. that can have carrying degrees of influence. there was a belief that he would win one if not two or three in this case. but they expand. they are not replacing any directors they are expanding the

size of the board. again, that was a great top. becky, the interview was amazing. and he has ac man. they talked about the notion that shareholders make noise now. and it has impact. it was clear that it was case by case. i didn't think this could happen. low lost in delaware court this bid to try to defeat it poison pill there. it has been a new theme in acvism. in the case of hurtz or air products. the pill p ps were put in befor we new who the activist was.

but. >> of course earnings on wednesday. >> got them out of the way before the quarter. and we'll see if loeb and his two other nominees can change his course to the extent they want or what influence they will have on the board. he won, he got three. >> i don't know who is not vulnerable? what companies -- controlled companies. dual class structures. >> you are not going to see this from the companies that have come public. >> alibaba will not be as well. even though they don't have a dual class structure. let's talk stocks. it looks like new data in the red. that adds to concerns about a

economic slow down in that important country. there are worries about the continuing and increasing unrest are in ukraine. how do you approach a market like this? china, they want to look at simple rates. but china and ukraine which seems to be going not the right way. i like openings but when you are in this mode and it is ukraine escalating and it is china slowing, you are going to keep getting hit by these. if you are down there bidding for stock, do you think that tomorrow ukraine is going to look better? you are getting lots of people thinking this is not going to be able to be controlled. i think he wasn't that crazy about when obama said it was a

mid power. there are insurgents in every city. this is a time honored way to turn over the government. when i want to buy disney ahead of the quarter knowing that the stock would be down today. that weakness where there was a catalyst later in the weak. would i want to buy a generic stock? you better find an edge here. okay you have war and make that is when where is assured? >> kiev is losing control of the y

you crane. i thought the sales force was saying enough is enough. if the stock is down, i'm onboard because i'm not going to say anymore than the gentlemen in omaha are going to say. they don't keep both eyes on it. when you see it in the capital and you know there will be a day when people say i kind of ignored this. >> you were in sochi and there were gold medalists and they were saying is this the 36 berlin olympics and to go there with the nazi analogy has never been a good thing to do. the next thing you know, lots of countries get involved that wouldn't be bad. there are countries that i'm sure feel threatened right now. the idea that it was going to be some how that putin was not going to take action turned out

to not be the case. >> when we come back, twitter making a connection with amazon this morning and taking airline fees to a higher level. frontier is charging up to $50 for a carry-on bag. we'll talk about that move designeded to make it an ultralow. three days down today would be the first since april third, fourth and seventh. we'll see you in a minute. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare. transit fares! as in the 37 billion transit fares we help collect each year.

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warren but effet thought th plan was excessive. here is what he told our own becky quick this morning. >> we had no desire to go to war. we felt the best thing to do was to express our opinions privately to the management and to abstain from voting at this meeting and we think i know we'll have some discussions now and when we'll implement any plan. >> buffet took some hits.

i think if he had gone out and said we reject this man he is not going to be an activist invest investor a number of people were on the board. when he broke this news and listening to how we went through it people believed how he approached it differently not just the voting question a non vote of confidence, here is the story. is ken out or can he stay? they were talking about once the press takes the story like that

i have to tell you his days are numbered. >> buffet is really powerful. if he actually says that a ceo of which he is the largest shareholder is doing something wrong, ken is not there. >> it shows a real sophistication of course after all these years as to how power is telegraphed he knows how this is all done. and then we start and get a coca cola task force together. >> maybe they are drinking pepsi there. >> samazon introducing a new cat that lets customers add items they find on twitter without leaving twitter.

the announcement we are making with amazon this morning is an example of in the moment commerce. if somebody tweets something with a link to amazon and you reply to that tweet and just say ha hashtag amazon cart we will put that item in your amazon cart. >> we know the name of the game there is monetzation. >> we expected these kinds of deals. we wanted to think about monthly average users. you need to see ups. this is the possibility that somebody could say twitter stick here. >> and more important for twitter than it is for amazon. >> amazon is doing just fine.

also facing some competition in the los angeles area from google. >> google has it's own delivery service where it contracts with couriers to come to your house for it's commerce option. amazon's move to same day delivery is much more significant and important with it's fresh grocery service where it has it's he own trucks and what they are drying to do. they are trying to get those down to hours in major met metropolitan cities. >> we are talking about almost 500 million shares down to trade. market is very skeptical with that. there are other people, investors who are if they are watching the show, you should

sell. >> that is a big number. half a billion shares? >> twitter, wasn't like they blew the numbers out. you are always going to be thinking about it. one day you are going to sell. you know, i'm not going to buy until you sell. do i want to buy when you sell? >> until they put a big dividend in? >> right. that will be a sign to sell. >> i think that the market is skiddish and these kinds of stocks will be for sale. i'm sure people that watch the show will say, i don't own twitter. when we caome back. we will count down to the opening bell. more squawk on the street still to come: ♪

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♪ >> all right it is a monday morning time for a mad dash with 7:00 to go before the opening bell. >> this is one of my favorite are companies. when you say who does the seats and the masks and the gallie. it is all bea. it is a fabulous company. stock had been stalled for a little while but if you look it has been up up up and they were going to have an analyst there.

and then they cancelled over the weekend. they are going to be exploring sale and merger. this company is worth a great deal. when you can get that much real estate in a plane a lot of people are going to be interested. >> i think that rob well collins, this is 10 billion and this is $9 million. i mean come on, they have been selling the bea in the area. reported earnings this morning. it doesn't matter because of the

aggressive pursuit of astra s astrazeneca. i pulled up and talked to a number after speaking with you. they are saying to a man or a woman that it is non impressive just tax. a lot of companies go back to merck. by the way, i thought we might get the announcement on consumer products this morning. i'm hearing numbers perhaps $15 billion which would be

incredible. this is incredible. when i did the $10 billion i knew i had scratched it. $15 billion they are not alot of these companies out there. we'll see. of course the business of merck we are talking about. opening bell coming up after this. man: we know when parents and teachers work together... woman: our schools get stronger. man: as superintendent of public education, that's been tom torlakson's approach. woman: torlakson has supported legislation to guarantee spending decisions about our education tax dollars are made by parents, teachers and the local community... and not by sacramento politicians. and we need to keep that legislation on track.

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so the magic shell went back to being a...shell. get live squawks right in your trading platform with thinkorswim from td ameritrade. you are watching cnbc's squawk on the street. talks on wednesday to the joint economic committee. we'll get a new round of earnings and keep your eye on the banks. friday night jp morgan becomes the first to warn on q 2. 20% was down 17 in q 1. >> doing some back earnings they have joined the group and this group has been a house of pain.

you can't own these stocks right now. darn it. you want to if there was a rising rate environment. with that number on friday. it has done the opposite. you need it to see rates going to three. jp morgan stops going down. it is almost there. holy cow. it is almost -- there is the opening bell. a lot of red at the top of your screen. every day health celebrating it's recent ipo. company holding a spin class. saw that about 50 stationary bi bikes out there. >> has anything else happened? >> have you ever taken a spin class?

>> i have not. i stick to the pool. >> it does hurt. >> the nasdaq. senator joe mansion democrat from west virginia. his hand in a bunch of financial stories. sell sell sell. >> in the meantime. julia margolis and i recommended as a witness on there i said big coin could be interesting. little did you know. >> i wish i could say i was ad-libbing but that was the squip script. nothing versus that show's insight. out of the mouth of a babe. >> we mentioned some of the upgrades in chipotle. let them come down. there is no way a recommendation

is going to keep the stock up. it has come down a lot. you need to know the raw costs. it has been one way down to here. people are trying to call a yelp bottom. be careful that group is still very much for sale. among the losers. jp morgan, i don't know whether you can extrapolate. given the trouble, the recent troubles at bank of america, it is surprising to me that it has been the worst performance. don't put any mortgages for goldman sacs. i would think that they would be shooting the lights out. the stock has been terrible. >> wells fargo has been among

the biggest. up 8.5% this year. goldman sacks. on the board at target. he's an old minnesota hand. one of 11 children and i would not mess with him. >> tyson did miss by three cents. one of the many companies that have cited winter weather. weather does matter. when you go over the weather. we are seeing two kinds of companies. they look so many of the stores are closed and then there is health care companies. which right, right, because health took a vacation, january and february people let themselves go. if it is raining out you are not going to fill the prescription.

did you guys do pfizer? >> we did. it is down a little. wall greens had a descent number. watching them decline though, watching the offer is stock. there is some hope that they would increase the cash component. they may need to to actually increase the overall value. they have a series of vaccines i don't know. this felt to me like guys, we

are doing the biggest acquisition there. come on. that is how i feel about it. a lot of initiations this morning on king. which came to market here. a month and a half ago or so. generally positive. it is up two percent. wall street is incredible. they have pacific crest. bank of america and barclay say it is time to buy king. >> were they all of the under writers? >> who were the guys that priced it out? >> it has been a real win. $22.50 and it has been a real win. why it is not zinga. it is too soon? >> no.

it is actually. i like that ceo. >> i'm very happy. >> watching shares of target this morning our lead story is that the chairman and ceo is out. good-bye don't let the door hit you on the way out. replaced with the cfo for now. unfortunately don't have a great deal of insight in terms of the board's initiations. why not. two people because after the date of breach. >> he's a really nice man everybody liked him. never had a bad word about him. nice guys don't always finish last. he's a good guy. the breach was bad and did they

take action and did they get in front of it. these managers are telling you hold it. there are 42 other companies. you didn't do that. you mention new issues. lq a lot of initiations there as well. not as many buys. >> who likes that? >> they say david it is time to buy la quinta. came in 17. it is a private equity. another blackstone deal. that is a separate entrance. what is incredible the thing is getting killed today. this is a bad day.

what are you doing about the limes getting killed? >> that must be crushing margins. >> we are 15% hit in food costs since we opened. not that long ago. >> limes. the bar is focused on margaritas. >> we have them right on the counter. not the kind of place i run. wow. lime tree is so pretty? >> no. >> don't have it you just get killed. >> as of the close tonight that is not going to be quite the lowest close at this place and yahoo! david carp saying today that the company has up held the promises that they made since a year ago. and on going reports that

alibaba is going to happen this week. we are talking about we are going to see the filing the so called f-1 which will be 400 pages long and you are not going to get more information on the top line. you will in the amended filings. but the ipo itself. which is going to be a monumental event you keep talking about the middle of august. you better do it with the planes that flies with a banner over the hamptons. it better be one of those that took on king kong. >> they have to start at virginia beach nag's head and go all the way up to maine. that is where people are.

they can be up there waving. let's get to the dow down. 120 points. and the problem is largely on what jp morgan said. and some of the higher profile groups like biotechs are on the weak side. here on friday what is going on with bond yields. i got half a dozen reasons over the weekend when i told people what is going on with bond yields. here is the list here. others are insisting on that europe bond rally.

it is tougher to get wondyiebons others are insisting that the message growth is not nearly as strong as you think. economic growth is disappointing. there is an article floating around that there is a shortage of growth. it may force them to buy longer data treasury and others are citing the continued recommendations. the bottom line here is that is affecting the thinking on the market. stocks today like utilities getting affected a bit. the strength of the group here is flat to down today. want to talk about 20% decline in trading activities. a whole bunch of companies lowered their estimates.

from $1.34. so the first quarter in trading is spilling over. jp morgan, goldman sachs gets 20-25% from currency trading. for a $1.20 to $1.26. earnings elsewhere occ iocciden came in okay. chevron was a bit of a disappointment overall. the big gainers today. i think that is a big issue

right now. right now the dow down 123 points. good morning david. and a ten year which closed at 3%. the talk was curves steepening at higher rates is great for the economy. we still here many say it is good for the economy. the long bond and the buying of duration keeping low interest rates on the longer maturities. but you can't have it both ways. we dabbled what has been under

$257. open the chart up and you can see, should we close under that yield, it would be the lowest close for that yield. search for quality assets and nervousness regarding positions they put p in lots of buyers an if you open that chart up we are hovering at freshly low yields. we aren't going to change that comp anytime soon. we did see the trend down close. now, when why talk about the yield curve this is still the hottest trade and it is relative yield. buying u.s. and selling some of those is giving the flatness to this curve.

summer of 12 if you look at the 5s the 30s. fall of 2009. how do low interest rates affect the dollar? it is working. karl back to you. all right rick, thank you very much. when we come back priceline.c priceline.comfounder. and also ahead. >> we are talking about cubabe ab cubeicle. >> think of it as a neutral colored enclosure. >> "silicon valley" gets renewed for for a new season when we continue.

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these days the house republican ares give him a harder time than they give me which means orange really is the new black. >> one of the jokes you might have heard over the weekend when the white house correspondent's dinner took place. a lot of talk about the parties. celebrities i remember are seeing a lot of ceo's lots of nflors including potential hofs. >> richard sherman. cam newton. we talked to tony r areomo for long time. >> there you are with sherman you two are sympatico. >> he said you did a great

impression of him. >> he said he felt mine was more game. >> it is hard to walk away from michael kelly. wow that is a good one. i passed by the president. i didn't do it. i felt like i wasn't, i just wasn't good enough. they are too big. but not richard sherman who is the best. you did track down dean norris. i'm talking about hank from "breaking bad" under the dome. he and i were under the dome. i sent ta pihat picture. he loves the show. most of these guys, they are like hey, i love your show. >> here the most interesting man in the world.

i said listen, this was soviet union. i got this guy. i made a be line and i was not going to be one upped. he got sophia vergaro. we are back in a minute. ging faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. . time to take care of business with century link's global broadband network and cloud infrastructure. we constantly evolve to meet your needs every day of the week.

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it is time for cramer and stock trading. >> couple of lines indicating that this ain't going away. this trend is expected to continue for much of 2014. pause in the rate of growth that is not what the fed wants to hear. and why? low inventory there is not enough for sale. and of course the rates. now rates, even though interest rates have plummeted. mortgage rates have not. i see some way out of the jam. this was a quarter that took your breath away. this is not what you want to hear. if you are the fed. no one wants to hear this. >> he'll argue that is what happens. this is what disrupts what you

expect the market to do. no inventory prices are being bid up. >> multiple bidders when you put a house up. it is too hot. >> what is on ""mad money"" tonight? >> it is a licensing company. neil cole is smart. a lot of people are saying listen. it is true. they are versing up the twitter is going up. we have seen a couple of stocks have had major reversals linked in. i caution it is early. it is 9:55. there is a full day ahead. a great rally begins at 2:45

that is the kind of rally you want to wait for do not run ahead of it. >> you mentioned disney. but fox and cbs and aol and tess la and directv they are all coming. >> i own reddit and their he knew story. that tells me that disney is going to talk a lot about star wars. r2d2 was on "good morning america". it won't be a "frozen" sing along. we will be back in the bar with chewbacca. "spiderman 2" did not blow it away. >> it is all disney right now. he is much taller than i thought. >> you didn't think he was very

tall? you have seen the movies chewbacca is giant. >> i have a vision of him carrying you the way he carried 3po. >> you could do worse than spending time with chewbacca. good place to end the show. >> limes to chewbakca when we come back wheel get reaction to that. and the latest on target. back in a minute. white chocolate loversividual. don't like dark chocolate. milk chocolate lovers don't necessarily like dark or white. before we couldn't really allow the consumer to customize their preferred chocolate.

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>> this is the strongest read since the big high read since august of 57.9. it is interesting viewed in context of march. being unrevised it gives you a notion on the weather here. if we want to look at the sub

components on friday, it did not read at 53.3. the other areas we pay attention to is new orders. 58.2 versus it's last read of 53.4. we continue to see the interest rate complex we see the ten year bouncing and hovering off at 257. simon, back to you. the data is front and center for many. as janet yellin is coming in. steve, good morning. >> looking at some of the details of this report. new export orders, big jump indiana ventories. the back log fell. some of the commentary here,

general business conditions here, traffic and sales are up due to a break in the weather. a lot of focus on the economy today and what we saw as a jump in the friday sales report. we looked at nine economists this morning. they are up to 4.6. we have a bunch of economists in the 4% club. no slouches ubs topping the list. deutsche bank, credit swiss joining the group at 4%. some of the commentear for those who are not in the club says the forecast should be easy to achieve and we see upside risk. saying monthly data should cheer

accelllation. not ready to make that call. the point of confusion is consumer spending of what is going on. guys, one of the problems is how much growth there was in the first quarter. a lot of people expect what is now a tracking forecast to be revised up. bottom line is we are seeing optimism as a result of the job's report and we'll be watching that and simon raises a great question. how does the fed chair process that in terms of her fed policy. house does the bond market process that? >> let's do more math. the ten year yield and nominal growth are things that are supposed to work together. if we do real growth senior ara

me a number. 1 1.5. >> sure. >> that is a 3 point differential. between the two they couldn't be going more different ways. the data has been good and the question as to whether or not the ten year is smelling something about growth, i'm not seeing it yet but i remain open. you could see the ukraine yan tensions factors in there as well. good to see you. very important. another big story we are seeing the ceo of target resigning. cou courtney reagan has that. >> reporter: stepping down after that massive data breach.

the timing is leaving some scratching their heads. statement reads: >> cfo will step in as interim ceo at target. i spoke to mulligan in october. >> it has been a tough year for consumers overall. they started the year with the tax increase. they were already stressed as the economy has improved slowly over time. but it has been a choppy recovery for sure. the pay roll tax had an increase on that. >> it has been a rough year for target. he says target needs to hire --

stern ag's acknowledges there are positive and neg satives to the announcement but this is clearly not a vote of confidence. deutsche bank notes the q1 risks to earnings have been heightened. for more perspective let's bring in jeff sonnefeld. jeff, in addition to the concerned that were mentioned, they have not given us the results of their investigation. does this make you think they have more bad news to tell us? >> the congressional hearing, where it turned out the early alert signs, in mid november there were data breaches that

somebody was cracking into the system. to have this enormous credit card data wash out the door and $70 million bits of confirmation this looks like it is preve preventible is distressing. we also come in the aftermath of a pretty disappointing last quarter 46% drop in same store sales. you look at home depot. they are not suffering this way. they have the same weather, and we aren't seeing the same performance drop and so it could be one too many straws. it makes it seem like something devastating happened or there was devastating information. with the board holding

accountability here. it cuts to the home grown nature of the culture that they have at target. in this day and age if you are going to sit on the credit cards of 40 million people perhaps you are going to work yourself up on somebody that hasn't been an assistant buyer. >> well, they definitely needed the expertise. they need it now. this person that they brought in is really well tested and a senior top level data security cio type positions at home depot and other great retailers you wonder in terms of the new ceo, if there isn't somebody smiling in the corner, ac man made a run on the company just about the

time they took over. he left in a blaze of glory. and then as steinhafel came in he had the market collapse on him. that is when bill ac man made a run on him. much of the same people stood by h him. are you surprised that right after you learned about the data breach they did not start a plan to find a successor for him? >> well, you have very, very serious players on this. john stone the ceo of wells fargo he was surprisingly targeted by bill ac man a few years ago.

saying that stone was complac t complacent. i can't think of anybody who would have called him complacent. he wanted to make sure that nobody ever suggested that. as suspected, he asked some questions but you have the recently terminated yahoo! coo who is used to an abupt exit. and the leader of xer areox she somebody who believes in grooming from with in. so i think right now to have this abrupt exit is key for the board. >> i think a lot of people who know the company would agree with you. thank you for your insight.

>> when we come back. warren buffet speaking out saying he doesn't want to go to war with oklahoma. what is next? we'll talk about that in a moment. passenger: road trip buddy. let's put some music on. woman: welcome to learning spanish in the car. passenger: you've got to be kidding me. driver: this is good. woman: vamanos. driver & passenger: vamanos. woman: gracias. driver & passenger: gracias. passenger: trece horas en el carro sin parar y no traes musica. driver: mira entra y comprame unas papitas. vo: get up to 795 miles per tank in the tdi clean diesel. the volkswagen passat. recipient of the j.d. power appeal award, two years in a row.

there is so much news

becomegobecomky i don't know where you want to begin? >> reporter: let's start out with cokeca-coloca-cola. that was something that created a lot of criticism. there were a lot of people who thought he should have stepped up and said that. he said were buffet is wrong on coke. he said it is just not his style. most people like to get along with people. i love karl. but, he may enjoy battles,

somebody people do that. you know that led to a longer conversation. they are both on the board that is why we got the chance to talk to them today. whether they think activists and investing is good for bad for the business. >> sometimes it is good and bad and sometimes it is awful. there is a level of discipline they should be viewing the actions of the board and management.

share how olders having power is an important part of the system. got a chance to talk about that. he has been selling that for 12 years. he has been selling a set amount. right now i'll send it back over to you. good to see you. he was on a buffet panel.

i'll start with you. you have quinn a book. he has talked about the need to speak out and he explained it. did that jive with you? >> it didn't jive. but it is reminiscent of the affair. and in the past he and charlie had been black and white when it came to behavior. does it raise any further

questions to you. jay, are you with us? >> i'm sorry yes. i don't think it is a big issue with howard being on the board of coke. i think howard when he becomes the executive chairman of berkshire hathaway. he will be responsible for maintaining the culture and in the unlikely event that there needed to be a change he could help facilitate that. moving on, i think the gun is loaded and it is only a matter

of time. that is much larger than what we had thought. i wonder where you think that deal is going to come from. he owned all sorts of different industries. >> i think you are going to see more in energy. they love the regulated energy business. they have cost of capitol of zero and they are able to get 10 to 12% returns. so i think you might see something big in that area.

>> one is 90 and one is 83. i think he wants to be ceo for maybe another decade. the ceo uk sayser will be an internal candidate. and they are going to do a fine job when that time comes. >> still remains a mystery who that is and how it will look. thank you for the perspective up

next if you thought there couldn't be more things, for charging you, you are wrong. we'll talk to the ceo of frontier about making the airline ultralow cost when we come back. peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner,

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part of a new low cost pricing initiative that lowers fares but adds fees. joining us is david segal. >> welcome to the program. >> we lowered airfares across the board to offer customers choice and value. you start with the lower fare and you pay for what you want and only what you use. if you think about the total ticket price you can save a lot of money.

>> if you travel without luggage. it is $20 if you buy the service off the website. $50 if you want to kealakekua bay $50 if you want to buy it at the gate. >> we have the lowest fee in the industry for a checked bag that starts at $15. if you want to carry on that is $20. what we want to do is change customer behavior. if you think back to 7 years ago when the industry didn't charge for bags the people took the bags onboard and everyone else checked the bags for convenience. once the industry started checking the bags, everyone started bringing bags on. at the gate there are carry-on

wars where they have to gate check the bags. we want people to make a choice. they can check their bag for the lowest fee in the industry or pay more and carry on but we have taken the price of the bag out of the ticket. >> i think it is an excellent idea. i'm sick of having to watch these people in the bags trying to cram them in the top. >> you have that perception i'm worried that you are nickel and diming the customer. the ultralow cost carrier model you choose the options you want and pay for what you use. if you want to manage your flight you save your money. we offer two types of fares and

that includes a carry-on bag and a checked bag. what happened was it was the likes of easy jet that were able to out perform them. well, if you look at europe, the ultralow cost model is popular. customers like the model. it is 30% in the market and only he 3% in the market here. it is actually a better value for the customer. it is the most customer friendly model. we offer that and let them pick

the options they choose. our fees are reasonable and fair and lower than the competition. we have reasonable fees and offer a reliable product and excellent product and have great customer service and an ultralow cost carrier. we have reclining seats and live tv onboard. >> i'm wondering where the fee structure stops. would you consider charging to use the restroom? >> we would never consider anything like that. offer fees are the lowest to the competitive set f. we are trying to produce an on time departure. our customers, they have overhead bin space included.

people might know indigo. how many carriers can sort of replicate this before you start banging into each other. the market opportunity is large and as i said earlier the low cost model is 3% of the u.s. market and it is 30% of europe and 30% in the uk. there is a huge amount of room for them to grow here. they embrace it and believe it is the most consumer friendly model. that is why it is 50% of the uk. it is a better model for the customer. in the meantime there will be fairly unseemly sights i imagine you are not going to charge for people to put the bags under the seat in front of them.

how are you going to stop that? >> well, luckily we have plenty of leg room on our flights and you have 37 inches of leg room. so, we think people will learn the system and work the personal item underneath the seat. again, this is about getting an on time departure and having overhead bin space for customers who value it. those who pay the premium ticket and people who want to pay for carrying a bag onboard. we are trying to create a more civil iced situation onboard. it is creating a better experience for everybody. if people look at the total price of the ticket. they are saving money. >> the president and ceo of frontier. thank you for joining us. >> when we come back. the founder of priceline and one

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country's innovations. joining us now is the foupgjay r the founder of priceline.comthe holder of 700 patents. >> many will feel that this is pathetic but to be found guilty of infringing patents. >> it is a serious slap on the wrist there. at the end of the day those jipts ajipt giants are going to play in court. the rest of america are sitting in the sidelines. there are 2 million pat epts that haven't generated a dollar. the licensing are how we get things into the marketplace.

it is how we create jobs and competitiveness. you have a new venture to take to the market. >> patent properties is a company to address the two million pa tents that are sitting on the side lines. the person who solves the problem is going to be a big company. just in music alone $3 billion of music licensing. how does it work? >> well you create a simple utility and instead of going to court with a lot of legal lotto or bust you create a no fault license. you package them up and create a different marketplace that works for openewners of patents and u.

people are bundling in that way aren't they? >> the big guys bundle but the small guys can't begin to do it. give me an example of what this might achieve. you have a tool and die manufacturer who knows if i don't generate licensing revenue i can't keep doing pat ent work. you allow them to put them in and you license them to a lot of people at a low cost. there are hundreds of thousands of companies that will pay to license patents. >> we see the final number was $120 million that was a lot less than was desired. should investors care about these disputes? >> for the big guys investors only care in the strategic

position. you can lose and if you steal more of our stuff you are going to lose more. samsung is still going to sell the phones around the world and google is going to cover the cost of what comes up. this isn't fair. how can you stop it? >> when you use the legal system to accomplish what is a market problem you are not going to like what the system does. you may say it is not fair. when we ask the courts to set market prices, we need market based solutions to these problems not court based solutions. people don't realize how much dirt is going to be dragged up. any trial for tpat tents of millions of dollars.

they are pay pay pay. that is not a good answer either. if we don't get patents into the economy we won't get more jobs. >> nice to see you. jay walker. >> coming up the creator of hits like office space taking on a new subject. new hbo show. he will be joining us live here later. we'll be right back. she keeps you on your toes.

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cutting our losses on the down. let's get to rick santelli. good morning rick. welcome tom. good to be back with you.

>> there is no question that we are bouncing back. april is independent mading an upturn. inventories are coming in the supply chain. what the real issue is what the sustainability is what the pops are going to be. we had an inventory will be last year.

are we going to see sustained growth building new inventories? as new orders increase companies are finding they are meeting that demand for new orders. that could lead. >> we are seeing transportation prices higher. that is going to flow through into transportation costs for companies and that will lead to increased pressure in pricing.

why do you think the employment index looks so much better? >> since then we have bounced back. >> tom thank you. it is informative to learn what has been an what will be an important part of the economy. >> thank you very much. real estate is not your mom's market anymore. simple online listings are becoming a think of the past. find out how the new generation is selling homes. one of the stars of bravo's new show will join us after the break.

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that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while. someone whose poor performance is slowing down the entire organization. i'm looking at you phone company dsl. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. there is a new trend swirling around luxury real estate listi inings take a look. >> what i have for you is

something better. >> it has romance mystery and sex appeal. this is pushing a multi million penthouse and in the luxury real estate market it is part of a new trend. using magic to sell high end homes. mia spent thousands to make her $64 million listing look like a scene from a movie. in new york, related produced what amounts to a 6.5 minute documentary. >> in some ways you get the best of what new york has to offer. >> it may be paying off. r are rupert murdoch spent millions on the top four floors. >> and this movie is ryan

surhant. he doesn't appear in the video. but says he spent $50,000 hiring actors, camera crews and the chopper to feature this new $20 million penthouse lifting. let's bring in ryobert. ryan thank you for joining us. that is the most unusual real estate video i've seen. you don't see the property there is this build up. is that mystery part of the design? >> absolutely. the idea came about i wrote it with a colleague of mine. the apartment was being renovated and we decided to come up with a video much in the way andties it a little bit with the

sky vault which is what would sell it. >> it was very, very james bond like and i love the plot. but will wealthy people buy a $20 billion apartment exposure. wealthy people are like everybody else on instagram, looking at videos and photos and looking at the internet all the time. i have to get the listings i have, especially high ones whether in the france or new york city or boat. >> you know this will go viral. it's a great video. what about the broader high end market. we saw a $147 million property sold in the hamptons. >> unfortunately i didn't sell that one. 92 not this time. what about the high end, especially new york city, how's the market right now? >> incredible. doesn't seem like it's going anywhere. >> except up. >> exactly.

we're flooded with overseas buyers, especially asia topping the market for us. there's this continuous flight to capital. people are high on real estate because there's always a buyer for it. >> are you worried about that flight to capital is because of a supply of money? do you worry about a bubble in new york city? >> no. i think there's a 10 year cycle and always will be strong because it is new york city and is an island, a rock, only 1 central park in the world. >> definitely only one ryan ser serhant in the world. there's ghosts, gifford, crying, typical great million dollar listing. the world premiere of this video you can watch it on cnn.cbc.com. >> as you know, there are many top listings, you just mentioned

it. this does take the cake. brand new owner of the most expensive residential property in the country with me a couple weeks ago. $147 million, robert, is the word. i have not spoken about this property in particular. you were talking about foreign buyers. we still have a fairly decent amount of demand from those on large hedge funds awash in capital to set aside for real estate domestically. >> what's stunning about this seal the most expensive in america, it wasn't a foreign buyer and one of three recently in the past two months of properties in america that sold for $100 million or more. rare we get one per year and suddenly we have two properties in the u.s. selling for $100 million or more. we don't know who the other two buyers are, one property in greenwich and one in los angeles. this shows at the trophy end of things, there's so much money

chasing these very unique properties. >> i don't know if he will sell his other house in the hamptons. i don't know if that will set a record but in a pretty nice spot. >> also, further language is where steve cohen bought, where jim chanos. the lane has to be one of the richest roads in america >> is that where they all go? to east hampton. >> not 147. that's a big number. huge, even for the hampton, it's hug huge. >> any chance you can borrow it, david and we can go on holiday for a week? >> a guest cottage. >> that would be nice. >> or take the show to the hamptons! >> a caretaker's cottage, i'd do that but it's nice. i'll take the caretakers cottage. >> really? >> still ahead -- >> that leaves target ceo stepping down after the massive

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welcome back. i'm eamon javers in washington where attorney eric holder just posted a special video message on the department of justice's website where holder lays out his belief there is no such thing as too big to jail that no financial institution has such size and clout in this economy it is immune from prosecution. holder says the department of justice and regulatory agencies are working closely together and moving forward raising the possibility of some kind of charges against large financial institutions in the coming weeks and months. this statement today is a marked difference from what he said up on capitol hill, back in early march, in which holder seemed to raise the possibility that in fact financial institutions could be too big to jail. in march, he said, i am concerned that the size of some of these institutions becomes so large that it does become difficult to prosecute them. however, today, he is saying there is no such thing as too big to jail. no academy, no matter how large

or profitable is above the law. simon and sarah, interesting moves from the department of justice. >> do we know he's referencing morning is this country or the swiss banks and negotiations going on there on other matters? do we know those two subjects are linked? >> we know behind the scenes in washington the speculation is swiss banks and possibly other things. in the video, holder goes out of his way to say he's not naming any institutions right now. says the coordination between regulators and the department of justice will bear fruit in the coming weeks and months and may be in that period of time before we see what he's talking about. >> he wants some of them to plead guilty is my understanding. that may be brinkmanship. i don't know. >> it's very unusual. >> it certainly is a sea change in terms of the way they approach it. >> he would like you to think it is a sea change. let's see if they actually bring criminal charges. >> the ones they're talking about are the foreign courts. >> we will send it to carl with

the dow down. we're kicking off the week with a bit of a sell-off here. >> the open was down 135. we recovered a lot of ground. the irish conference is about to start making headlines. we'll be on alert for that. if you are just joining us, here's what you missed. >> welcome to "squawk on the stree street". here's what's happened so far. >> walmart is challenged, target is challenged, the model is challenged. in the end they haven't done that well. i've been disappointed in target for some time. this company has not had a visi visio vision. >> i think buffet's gun is loaded for another big acquisition. it's only matter of time. it was a big surprise to us that berkshire could have the capacity to do a $50 billion acquisitio acquisition. >> it's actually the most

consumer friendly model in the industry. you choose the options you want and pay for only what you use. if you want a major flight you save a lot of money. >> good monday morning, 11:00 a.m. in the east coast and 8:00 a.m. on the west. one stop shop, twitter connecting with amazon announcing this new partnership that let's you shop without leaving your twitter feed. >> and target ceo out of the company following a large breach of information late last year. what top bosses should do to protect their company and jobs. beef v beef -- bevis and -- >> the end of the antivirus. one of the top software pioneers

of the '80s. how can oo make sure your software is protected. >> joining us this monday, john steinberg and cnbc contributor our own jon fortt. all is right with the buzz worl world. >> you can add amazon products to your shopping feed and use the link amazon cart and it is added to your shopping cart when ever you like. here is the ceo this morning on "cbs this morning." >> the announcement we're making with amazon this morning is a great example of this in the moment commerce. we talk about now commerce and realtime commerce if somebody tweets something with a link to amazon and you reply to that tweet and say #amazon cart, we'll put that item in your amazon cart once you connect your twitter account to amazon.

>> everybody knows e-commerce is one area they're starting to play a little more. >> you did that this morning? >> i did it. even with the way costello is explaining it, a little bit weird. a tweet comes out with an amazon product and look at the tweet and reply to it and add it to your cart. it doesn't make a lot of sense to me and part of the logged in user story they're not growing right now. not where people see tweets everywhere. too small of a story. >> what did you buy? >> amazon tweeted out a banana slicer. i replied amazon cart and went to amazon and sure enough it was in my cart the banana slicer for $3. >> it worked. >> it worked. i don't know huh many times i will see it and reply #to my cart. >> you still have go to your cart to transact. do you think people will do this if it still requires them to go to another website? >> it's a little bit like

changing your oil. people don't want to open up the hood and get into the guts of the thing and figure it out. you actually have to type in m in #amazoncart. wouldn't it be easier if there was a button on the twitter card if amazon had access to the api you can put in cart or one click buy. let's say that might not happen, it might happen. this is plumbing so maybe they're showing us this is the direction they're going. it's important for conversion, the idea every retailer wants to see if there's a line for people see this tweet, even if it's in an ad to actually purchase iing something and gets them closer. >> they showed oral b toothbrush and pampers, hey, i need to buy this. there are a lot of advertizers on twitter trying to do this. yes, i need pampers, click to buy or #or something like that. >> remember amazon want tool

that lets you get it into your cart. amazon knows once something is in your cart you're more likely to later purchase it. this gets you that much closer to making the transaction >> it was trending this morning amazon cart, do you think it's- >> i think it's worse for twitter. tweets are on television, go everywhere, a newswire. rather than coming out today with a relaunched front page you can discover the news, yet another feature for 250 million years of how many will actually do this. >> do you think they want the world to know what they're buying, banana slicer, innocuous enough. someone who wants to buy 50 shades of grade might not hashtag it. >> not everything will work with hashtag. there are some items poplar to buy on amazon people might not want the world to know about. this is great important plumbing for twitter. that same challenge, they have

to simplify it, make it fun. make average people want to use it. >> the company knows. the explanation was so labored when he was trying to explain how you do this on "cbs this morning." >> some other e-commerce news, google has announced plans to do same day shipping in all of manhattan and los angeles. called google shopping express. order online. pick a delivery time and they deliver it later that day. participating stores in manhattan include costco, fairway market, walgreens. to entice new users, google is offering six months of free deliveries as the battle goes on. >> i hate to be so negative. this feels like cosmo. i ordered diet coke for $5. google is delivering it for free to my house between 1 and 5:00 today. doesn't feel to me like the best business model no matter how much they ooberize this type of thing. even when they put on the 5 or $6 delivery charge it still

feels like this can't possibly make sense. >> here's the danger. i put this in the same category as zero margin hardware, kindle fire, fire tv, you're using the fact you're big and have a lot of cash to try to push into certain areas and gain shares strategically otherwise you wouldn't be able to. it's great they're that big they can try this. everybody can't win here. these services won't necessarily be around long term. but the urban high end buyer who doesn't have a lot of time is likely to at least try out these services. >> if you're a retailer like costco how excited are you you don't have to worry about getting into this business? >> i'm psyched, as a consumer i will use this all the time. i won't always do a $5 soda thing where they actually start char charging me. for 5 dollars to get a ton of groceries delivered, it's great. maybe the angle is google wallet, can they justify these

delivery charges to get google wallet. >> in costco not sure i'm excited. i want you to walk through the door and buy 50% more than you would. the customer gets more loyal to the delivery service than retailer. >> google could lose money on this for decade, centuries an it wouldn't matter. >> amazon is a pro at losing money at stuff for a little while if it's strategic. if it doesn't work out the way they plan you just lose money. >> poor start up instacard making great strides in san francisco and other markets, 5 or $6 delivery, roughly the same stores. ebay now doing basically the same thing and google. grub hub should be doing this business. why are they not doing it? our own becky quick is talking to warren buffet and bill gates. bill gates excited at taking a more hands-on approach at the

software giant and examining the strategies now that he's rejoined the executive team. here's microsoft's ceo. >> he's off to an amazing start drawing on a broad set of people in the company getting them to rethink how can microsoft move a bit faster and distinguish ourselves with things like office 365. >> becky asked him about selling stock. he sold more and more over time to the point where ballmer is the number one holder and bristled at that question and moved on to something like this. >> he's doing major and charitable type things. if ever there was a person selling stock completely separate from the future of the company, i think this is it. >> this is an important thing for gates to do, stepping back into a more active role, at the same time he's reducing his stake so much i mentioned back in october i thought this year he would cross that point. interesting he gets asked so much about nadella. hopefully in a couple months we

will see him step forth and speak. he gets performance review every time geatheates or ballmer step forth to say something. not sure you want to persist that way that long. and gates specifically mentioned office 365. that's a business product, cloud product. that's an area where you would expect saatchi nadella to make big news >> interesting to see the ringing endorsement how he's reexamining things going on in the company, moving faster, new products like office 365. begs the question why didn't this happen sooner. >> i think ballmer is continually getting the short shift on this. office 365 was already in this market granted in the past quarter going from 4.4 million to 3.5 million users was significant. these things were already getting put into place before he got there. you disagree? >> microsoft for the ipad was

collecting dust for several quart e quarters before the trigger got pulled. it might have been slated for launch but on the tarmac quite a long time. >> john's point is he got religion. he got it late but he got religion, right? you disagree with that? >> the latest, the issue the board was pushing balmer to move. faster in certain areas and windows first and now we see a cloud first strategy and we see nadella launching the ipad. we don't know what the business model will be. important they did it this way, pre-iphone version and ipad version. >> let him get freebie points on the board. only a $2.5 billion runway, office 365. he has to transform this entire business, early signs of life. he will earn it in the end whether he does it or not. >> i agree ballmer gets dinged way too much. did a lot of great stuff >> good to see you guys together. >> good to be back. >> john and jon. when we come back, target's

ceo was outed after the breach of customer information last year. the former chairman of martha stewart will talk about the new normal for ceos where cybersecurity can cost you your job. first, rick after a busy weekend, what are you watching today? >> interest rates on everybody's epicenter. like that old commercial, lower interest rates look like they should taste great. they're much less fulfilling than many would imagine. think housing but think one year ago we're at 160 basis points on the 10. let's quantify how all that affects the markets and economy and you, the viewer, all bottom of the hour. mine was earned in korea in 1953. afghanistan, in 2009.

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disappointing outlook for the financials, jpmorgan. >> like you say jpmorgan one of the big losers. late friday they said the revenue for the second quarter is down about 20% and expects exposure to the russia developing to about $4.7 billion the ends of march. you have state street and goldman sachs. and recommended shareholders vote against morgan's compensation plan and that stanley was paying too much to

its executives. the worst performing sector, financials. back to you. as we have been reporting all morning long, gregg steinhafel stepping down. joining us the former chairman and ceo of martha stewart living on the media and currently ceo of cek entertainment. charles, good to have you back. good morning. >> good morning. how are you doing? >> pretty good. you think about this data breach. when a company has an event, a negative event of such scale, i wonder is it any surprise the ceo is leaving? >> i think you have to look at this as a company who has an extremely active board. the breach was five months ago. they've almost got that behind them. i think this is more about the board deciding on the need to transform the company. >> in what sense? we know about the troubles in credit cards and canada. do they need to change the very

character of shopping at target. i think for many many years target was the prime example kind of hip characteristic and priced. i think they lost some of the hip and lost some of the chic. i think the board looked at this as an opportunity to transform the company. >> charles, when you look how this is coming across, of course, the data breach was a big deal. sounds like the board is saying it's not clear exactly what beyond severance he might get on the way out. contrast that with what's happening at coke. contrast that with what henrique decastro got going out the door at yahoo!. is this justice from a shareholder standpoint, the way they haven't been getting it elsewhere or something else? >> no. i think it's really about the future of the company. a company such as target and coke and the other major companies you talk about, they all have good succession plans.

i think you can't find a replace ment while your ceo is sitting there. they could go to their bench. i think they're confident they have a team in place that can operate while they do an active search, which is really good governance and the way a board should behave. i think in this instance, it's not about the breach, i think it's about the future. >> charles, when you think about the entire retail sector, obviously target was not alone in being victim to a data breach over the holidays, niemann marcus and t.j. maxx several years ago. what sort of examples does this set for other companies going forward, if a massive breach like this happens, is this the right thing to do? >> i don't think this is about the massive breach. i think this is about their position as the preeminent retailer. i think the board has looked at it and said, it's time for a change. if their business was great and they had the luster they've had

for many many years, then the ceo rides right through the breach and the business keeps on moving. this is not about the breach, in my view. >> we asked this morning, when you don't sell electronics as well as best buy and don't sell food as well as whole foods there might be a problem in the concept of the multi category store, do you think the fix is in stripping out categories or moving either up or down on the price spectrum? >> i think that's going to be a decision for whomever they find to be the next ceo. that won't be a board decision, that will be a ceo decision. an active board -- i applaud the board for looking outside and knowing that they have internal candidates but to give them the opportunity to look outside for an external candidate is really the way a company such as target should operate. >> the fact there was no one really in the wings is laid

bare. thank you. please come back. >> thank you. good to see you. >> charles kopelman. >> antivirus software is dead say says the man that pioneered it in the '80s. if that is true, where should you turn to protect yourself. we have answers coming up next. plus the man behind office space, beevis and butthead, mike judge joins us later this hour. there's a saying around here,

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welcome back. semantec is planning a new attack against cyber-hacking

saying the antivirus software is dead. let's bring in aneesh chopra, and author of a new book "innovative state." thanks for being here >> thanks for having me. >> a lot to talk about. i'm interested in this semantec story. one of the ways consumers could proactively protect themselves against an invasive attack. now that that is not effective anymore, what does a consumer do to protect themselves? >> the antivirus software market is ever growing to find these protect vectors and protect against the size. the average software product protecting antivirus has 15 million lines of code. the attackers, they only have to write a few hundred lines. when you have that kind of

asymmetrical dynamic you have an environment you can't build a bigger and bigger mode and feel protected. it's the natural evolution of the next chapter of defense. we will move to an era, even if they break into the networks they will neutralize the impact you have on your lives. they call this neutral target defense back in my time at the white house. >> to be fair, it's been dead a long time part of the reason why symantec has had changes at the t top, catching the intruders before they get in versus making sure they don't get in at all. there's different tools of business to prevent attacks. >> yes. >> what about consumers? we know about vulnerabilities on android and companies like lookout mobile security trying to protect people. what more should the consumer be doing or demanding policy-wise to make sure they're safe. >> let's talk with the basics. passwords are the most important thing to maintain.

be fresh and up to date on your passwords. secondly, be careful of misleading links that appear on social networks. a lot of what happens to leads to your vulnerability, an employee at a company mistakenly finds an article, click the link and it unleashes this malware across the corporate networks. no different than you and i clicking on something we think is a call for help for money to be sent overseas, but in reality is this hidden attack. the consumer message is the same, be vigilant about your own social networking behavior and mindful on pass words to keep them up to date so your information won't be that compromised. >> part of your book is about technology as relates to government. the president just spent the white house dinner making fun of the government's own inability to leverage technology. what do you think they've learned? how is procuring tech any different now? >> it's getting better. there's been a bipartisan act of

congress to think of different ways to change the procurement model. one of the aspects i talk about in the book is the challenges competition can play to procurement. what that means don't pay for what someone describes they will do for you, have them pay for things they've already built and you're awarding the best performer. the v.a. just put out a call for new idea, as it modernizes its health care it systems it will continue with these challenges models we talk about in the book. >> the job track recently and entrepreneurs that watch the show -- >> yes. >> we've had a couple of years to sift through it and see how it works, what grade would you give it? ? i'll bullish, b plus aminus and give it an a if it gets past the crowdfunding rules. we tried to assess in a bipartisan how entrepreneurs can access capital to grow, this is eric cantor and president obama joining hands to grow the

economy. doesn't get as much attention. you see a record number of ipos and record filing with ipo filings and i hope as sec moves forward more communities in america will see hotbeds of innovation flourish. >> always nice to have you at post nine, in person, as technology plays a bigger role we will have you back. the book is "innovative state." congratulations. >> have a great day. beef vis and butt head and "office space." . >> he's talking about cubicles. >> we're not doing cubicle, no way. >> don't think of it as a cubicle. think of it as a neutral covered enclosu enclosure yea high around your workspace. >> mike judge will join us. back in a minute. revolutionizing an industry can be a tough act to follow,

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markets closing in new york just moments ago. let's bring in simon hobbs where we see mixed close. >> we seeappointment in china abecause of ukraine and te markets are slightly lower than they would normally be because london is closed. a lot of the stocks that have done very well are those suffering from profit taking. you see it with the french and the italian banks still weighing

a where we are in italy. they're up 35, 37% even now. that's partly why. i want to mention credit suisse and reporting comments from eric holder no company is do big to fail. there was a report over the weekend in the swiss press the united states authorities are demanding what they termed extreme demands on this -- the fact they were hiding americans with tax-free bank accounts or hiding money in tax-free accounts so many years. the newspaper said holder and his crew are looking not only for potential fines and guilty plea but for the suisse to hand over the details of americans who had money and they met with holder on friday. that would be contribution to moving that. i need to mention the european

finance members are meeting in brussel and portugal said it would exit its three year bailout the same way island has done. looks like the greeks are going to be asking for some sort of softer loans from europe in particular now that they met their primary surplus, they're running a surplus in greece and like the governments that own that debt around europe to reduce the interest rates they are paying. they don't want haircuts because that wouldn't go down well in germany. >> no, it would not. >> the european bank meets on thursday and the way they ratcheted down the rhetoric there won't be a move on it. >> despite people crying for one. >> that's financial markets. speaking of interest rates, rick santelli has the exchange. hey. >> good morning, carl. it's fascinating. as i look at the board, everybody is making a big deal the fact we were briefly trading

below closing low yields for 2014 for the 10 year happens to be around 57. we did violate that before full trading in the u.s. but popped back above that. let's not lose sight of history. in the summer of 2012 the historic low yield was 1.40. almost a year after that, about a year ago today in may, yields were around 1.62. currently they're 100 basis points higher. harken back to a different time especially housing in the '80s or '90s you had significantly higher rates. the point, one could say the advertised banners of the federal reserve and programs is to help housing due to lower rates. lower rates aren't cure inging s fulfilling with regard to that objective. according to the national association of realtors, in 2013 single family homes popped to

11.5%. there has been in certain areas of the country, hotter housing markets. we look at issues like inventory, many say it's low. in my neighborhood, there's many areas in chicago that haven't participated. the signs aren't really gone, just in people's basements. you don't want too many signs on the block. let's get more specific. there's a boat load of studies of late it's cheaper to rent than buy. that is the heart of my conversation i look at headlines job numbers, primetime or private sector, in certain sectors they were a bit dazzling even though other parts were not. i see the relationship between the economy historically and two main drivers, housing and interest rates, i just think it's very hard to handicap the quality of jobs. if you say too many are part-time, you get a lot of pushback. doesn't the housing market define the quality of jobs ultimately? why am i saying that? every one of these surveys trying to make the fact more

obvious that renting is more efficient and more economic in these times than buying, one of the reasons always given is mobility. mobility. if you own a house and you want to sell it you're looking for a better job and you're unemployed. that becomes a real albatros. renting is more efficient. that very dynamic in my opinion gives you the best grading of jobs. that is not a good grade necessarily. also remember the yield curve has moved from steep to less steep. what is that telling me? the long end was much lower than a year ago, it's made an adjustment for growth in the economy. the problem is that adjustment is a c minus. back to you. >> thank you very much, rick n santelli in chicago. let's send it to dominic chew not talking "beavis and butthead." >> no, we're not talking "beavis and butthead." this is beav, stocks up to 11%

just off the session highs. back to you. >> adding a billion dollars. that will make it more expensive for a buyer. we will watch that one. meanwhile, monday got you down? cheer up and watch this. >> coming up. >> i got to get out of here. i think i'm going to lose it. >> uh-oh. sounds like somebody has a case of the mondays. >> you won't have them for long. creative genius mike judge will be here. >> he's really not such a bad guy when you get right down to it. >> to discuss his new show, "silicon valley". >> writing machine code, okay, ask me what nine times f is, frenty-five. >> chicks don't like that crap. >> i never understood it. >> hush-up. we'll be right back. just take a closer look. it works how you want to work.

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then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going to have to rethink this thing. it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ coming up at the top of the hour, we're live at the investment conference where some of the best money manager are revealing their topics and bring you big ideas and jeff cohen in tampa and where he sees the best opportunities. carl icahn called out warren buffet over the vote on coke's compensation plan and buffet had not so nice things to say about

carl. later today we will hear from icahn's sparring partner, bill ackman. i will talk to him live at 3:30, another first on cnbc. the "halftime report" is straight ahead. see you in a few. >> you have a big day ahead. thanks, scott. from beavis and b"beavis a, taking on a completely different show, the appropriately titled "silicon valley." take a listen. >> you guys are arguing what met for to use to agree with each other. this is the inefficiency i'm trying to eliminate. my suggestions could help you beat me in this argument. do you see the irony there? >> blllllll. >> all right. i can't argue with this. >> mike judge, the executive

producer of silicon valley. i thought you were laughing at the clip even though you've seen it 100 times. >> i've seen it way too many times and you take a long break and don't see it, i don't know. the show is so funny, what can i say? >> it really is. and now renewed for season two after a handful of episodes, you must feel like you've nailed some of it, i'm guessing? >> yes. we worked so hard on it for so long and nobody's seeing it. it's been nice to see people, especially people in that world like it and respond to it for the most part. yeah. it's been really satisfying. >> most people may not know you were actually an engineer in silicon valley in the '80s. i didn't know that until i was reading up for this interview. i'm wondering what experiences you borrowed from that may now manifest themselves in the show. >> a lot of people don't expect the guy who did beav"beavis and

butthead" would have been an engineer. the world was -- i worked there -- i'm old, this is a long time ago, late '80s. it was different there, but i feel like the personality types were really the same, same type of engineer types programmer types i think are the same now as they were back then. mostly drawing from -- like the character stuff i was so familiar with. so that's most of it and we did a ton of research and took trips up there. it's a fascinating world. >> i lived in silicon valley for 14 years until about six months ago. the thing i worried about with this show is that america wouldn't get it. so much of it feels like funny to me inside joke. apparently people do get it which is great. how much of the success is the fact that america is ready for a tech comedy?

how much is the model now in media people can find this in so many different ways. you can run the pilot on youtube and a broader audience can catch up to it. >> it's definitely accessible to anybody and the pilot, like you say, if you have a computer, you can watch it. i think if -- i don't know. like when i did "king of the hill" i thought are people who aren't from texas going to get this and they did. i think if you make something -- i'd like to think you make it very real there's a nuance to something that's real people can just tell. it seems to be -- i know people, a lot of people who -- most of the people i know are not in tech. they love it. so also we try to make it so it's not -- i don't think it's inside. there's inside stuff there in but you don't have to know that to get the jokes or understand

emotionally what's going on with these characters. i think everybody knew these types in high school. there's nerds everywhere. >> one of my favorites is peter gregory played by kris stefr welch, who passed away and people think is -- is it your job to think the character is based on an actual human being? >> i actually, i read all about peter thiel and knew who he was, had never heard him talk until after we shot the pilot. the way chris welch did that character reminded me of a guy we knew, i got my degree in physics at usdc. reminded me of someone i knew there. to me, that was a standout performance and i don't say that because he passed away. it was the thing we would all be imitating on the set.

still, i was with some people last night who had seen it and were all just kind of quoting him, so, yeah. >> there's also one company that figures prominently called huli. where most of those that started this company defected from. do some say it's yahoo! and the font like facebook and people making comparisons whether they're that or not? >> yes. one of my nephews is a programmer at google and i got the official tour of it. we got the official tour. yeah. i mean, it's a little bit of all of those. but, yeah, hopefully, i think there's a lot of workplaces like that now, big campuses, not even in the tech world. >> are you trying to make any social commentary here because there's so much happening from

national security and all over that centers on tech. how much will the show go in that direction? >> we'd like to go more in that direction. lot of stuff has happened. we started the pilot a year ago and green light that. in that time a lot of stuff has gotten into the news we didn't get a time to do stuff. like people protesting google buses and yahoo! bus, vomit protest. >> ripe material. >> season two will be a lot of fun. >> when people meet you, how many times do they say if you have a case of the mondays or ask you to do the beavis voice? >> i get that a lot. it's weird, i don't get recognized much, maybe once every three months. i was clearing my throat, i was with my daughter at a coffee place and go -- this guy said it sounded like beavis. mike judge, i don't know what ah look like but i could tell by

t the -- but, yeah, i get the office -- most people don't - don't -- with "office space" like i was with the guy who played michael bolton in austin once, some people came up, that movie changed my life. i quit my job, whatever. he goes, this is the guy who wrote and directed it, hey j but anyway. >> is there something with the letters t&p? >> i never made that connection. >> it just occurred to me. >> gps was something in my fi t first -- tps, it stood for something -- it was test program set. i just put report at the end. >> sounds official, though, it really does. >> if you could do the next interview with us entirely in the beavis voice, that would be great. >> okay. you've got it. >> a pleasure meeting you. >> great meeting you. >> mike judge, "silicon valley"

renewed for season two. maybe you want to see what we're up to at post nine when we think nobody's watching? now, it's easier than ever to keep track of your computer and phone and tablet, what's going on at back at the ranch. what happens when we come back. stay tuned. at your ford dealer think? they think about tires. and what they've been through lately. polar vortexes, road construction, and gaping potholes. so with all that behind you,

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webcam that makes its wifi hd monitoring camera, the drop cam pro available in stores worldwide. greg, one of the ceos joins us. welcome. thanks on for joining us. >> thanks for having me. >> how is this different from a go pro--er or any other type of webcam or wireless monitor. >> drop cam is extraordinarily easy to use. we have a cloud service that lets you stream your video to any device anywhere in the world. anybody can set it up. all you need to know is your password. >> last week you announced you'd be in 18,000 stores. you already sell at best buy and amazon, why did you feel that was the best channel to push your product? >> verizon is a great place. they have the fios internet service and also have the wireless side of their products where you can view drop cams

from all their devices on ios. >> i used drop cam the first time a couple years ago and really struck by the simplicity of it. how many different areas do you push into? with a name like drop cam, i guess it's cameras. where do you go from here? more external cameras, what do you do? >> a lot of people asked us that. but they thought the name was limiting and didn't think so many people would go from google. we look at drop cam to provide home awareness for their customers and want them to know everything going on at home. cameras are the first step. we can look at different ways to let you know what's going on at home. >> other tools, motion detection, temperature change? >> i think all those things are interesting. outdoor cameras are something our customers request all the time, indoor cameras and senses

around your home to give you awareness who's there and not. >> you guys came up with an idea which is an outdoor purpose, which is? >> my dad is the inspiration for drop cam maybe what you're tooking about, trying to catch a neighbor's yard pooping in his yard. >> was justice achieved? >> it was. they took care of it amickably. it was great story and only after he installed his drop cam they managed to catch him. >> do you see yourself on a collision course with google who just purchased nest investing heavily in the same sort of in-home sensor technology? if so, how much money do you need to go to war? >> the good news is drop cam has been growing 300% per year in terms of our revenue, extraordinarily high growth, which means we're in good company with our existing

investors and people who want to get in on the company now. when it comes to google nest i definitely think in the next few years we will see them wanting to get in our space and us get in their space. that's okay with us. we think cameras are one of the most complicated sensors in the home and that's okay with us. >> your company is five years old and google bought nest. clearly there's appetite for this? would you sell the company? >> anybody who sells the company is not setting theirselves up for success. you always have to assume you build a big independent company. what we see with silicon start-ups that fail. the original dotcom era. if they were not building for a future where they had to exist as a great independent profitable company they didn't survive. >> we look forward to you being in stores. thanks for joining us. >> "cbs this morning,"

everything from stocks to technology to tax structure. what did buffet have to say about jeff bay zos? we will tell you in just a moment. ♪ ♪ (man speaking jananese)

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we talked about amazon's new deal with twitter this morning. here's becky buffet with warren buffet this morning >> it's one of the most powerful models i've seen in a lifetime being run by a fellow who has a very clear view what he wants to do and does it everyday when he goes to work and is not hampered by external factors like people telling him what he should earn quarterly or the sort, ungodly smart, focused. he's got a powerful business and has satisfied customers. that's usually important. >> for buffet to say you're ungodly smart, pretty good. >> it is. a ringing endorsement for me of heavy founder influence if not control. he could have said the same thing about mark zuckerberg. you watch how he navigated the

backlash of news feed and people hated that at one point and larry ellison maintaining a big stake in the company. that's what it takes to make the big move and more profitable but a ringing endorse. and more profitable and focused for the businesses he's trying to get into. >> he is focused and trying to make amazon your access point to commerce in general. he's willing to come comedytize hardware and i think in that way -- >> we still don't know his plans for media and "washington post" outside ventures. stocks had a hard time pulling away from 300. up a little bit today. once it got to 300 there were concerns of long term profitability at the expense of anything else. >> if you are investing in

amazon, seems to me you really believe jeff bezos can take over the world. how much has to do with the general market sentiment compared to how fast other things are growing. i don't know. i'm not an expert. it's a high multiple even though it's down a bit off the highs. >> and stocks are moving on the ism. >> to ism and scott lincoln. hi, scott. >> what a great day we have. welcome to a special edition of the "halftime report." right here at lincoln center in the heart of new york city. today, the stage is turned over to some of wall street's biggest investors. paul tutor jones, bill ackman, to name a few along with other top money managers to share their latest investment ideas and most importantly support a worthy cause, children cancer research. speaking of big investors today, carl icahn will join us in