kayla tausche reporting -- >> kayla beat nick dunn. >> nick dunn was quoting kayla. >> is that right?e news that we're talking about, ingersoll-rand is nearing a deal to spin off its security technology business. cnbc's kayla tausche is reporting that the news could be announced as early as today. the spin-off comes after months of negotiations with an activist investor. ingersoll-rand is planning to announce a buyback program and a nearly 30% increase in the share program. also, aig is considering selling its plane leasing firm to a chinese group for up to $4.8 billion. plus, listen to this, mcdonald's is going to be reporting november sales today. look for the numbers at about 8:00 a.m. eastern time. analysts are expecting global comps to decline .1%. u.s. sales are seen falling by .8% while europe is expected to tick slightly higher. this was a big deal last month when they came out for their comps. it disappointed for the first time in years and years. people will be watching this number very closely to see if the consumer is still feeling good, to see if mcdonald's's managed to g

kayla tausche joins us with the details, kind of a continuation of what you did for us this morning with sorkin, right, kayla? >> exactly, joe. a study at stanford last year found people who were introduced to a future version of themselves saved more money. bank of america took that research pretty literally, creating a tool called face retirement, which we were able to check out this week. it's a digital aging app that envisions retirement age for you and its costs. you can see it ain't pretty. it is not a sight that you want to see but foreseeing those costs has been problematic. in twice two third of early boomers came up short with their retirement funds. we know brokers always go to press one of two buttons, fear or greed and some critic say this is clearly fear mongering. many young people say it would encourage them to save, if for nothing else plastic surgery. joe, we wanted to show you the real probablies. we had to start from the young cahuna back on "squawk box." this is 107, in 2063. you just don't look very happy. >> i look like i'm on the walking dead. you know what you di

let's get out to kayla tausche again.re hearing the treasury is going to sell the remaining $240 million worth of aig shares? >> that's correct. we're seeing those headlines just hit the wire now. it's 234 million shares. that's roughly $8 billion. that's the last of the treasury's investment in aig. they will launch a fully public offering. roughly 16% of aig shares. this is a mayjor coupe for the government. still at 33 bucks even though it's down after-hours up from the re-ipo after the financial crisis. >> and it's something that will make the ceo very, very happy. the last couple times he's been on this program, he has been campaigning publicly for the government to do just that. he wants them off his balance sheet and off his back. >> it was an unpopular risk to begin with. so brings this all into the era. >> as kayla pointed out, it turned out to be profitable for the country. >> absolutely. >>> in the meantime, death tax would jump. we talk about why it might cost someone's heirs a ton of money if their die on new

>> thanks very much, kayla tausche.t our viewers as well to shares of best buy this morning, up very sharply on that "minneapolis star tribune" story we told you about today, saying that its founder, richard schulz, will make a fully financed offer for that company by the bid deadline, which is december 16th. what i can tell you, it is a somewhat complex story, as you might expect, i think we are going to be speaking with a reporter behind that story later on. but for now, keep in mind a few things, there is that deadline. if, in fact, they do make a big bid and it gets rejected, he has a right to come back with mot r another bid. i'm hearing there is conversation could you get a one-bid deadline some time in january, giving the schulz group or potential group the opportunity to look at christmas sales? that will be the key here. we will see. do you get a place holder bid of some kind at a very low number, intended almost to be rejected to give that you opportunity to come back in january or the board of best buy say, y

. >> kayla tausche back at hq. there could be a major move on the fiscal cliff negotiations.f the house john boehner offering the white house higher rates on top earners and other measures totalling about $1 trillion in new revenue. he's asking for an equal amount in return. our eamon jaffrays is in washington. >> just when we thought we had no progress at all from that mystery meeting last week between speaker boehner and president obama over at the white house we learned there was a phone call on friday in which boehner made this new offer to the president, let me walk you through the specifics of boehner's offer, starting as you say with raising tax rates on those who have incomes above $1 million. they're proposing overall about $1 trillion in new tax revenue. and they'd like to extend the republicans would the debt ceiling, but only in exchange for what they're calling substantial spending cuts and reforms. they'd like a one for one ratio on the spending cuts in order to extend the debt ceiling. take a look at how that compares to where barack obama has stood so far. he'

thank you very much, kayla tausche.>> we are in the trench he is of the holiday spending season that can only mean good things for the likes of credit card stocks. joining us now greg smith, managing drerktd -- director at stone ag the stocks are 52-week highs is it too late to get in? >> we don't think so very good growth ahead. you look global labor day the fact that 80% of the world's transactions at the point of sale are still cash and literally half of the world is still on bank, that american there is a very, very long runway of growth for visa and master card ahead. >> don't have to worry about the fiscal cliff, people get struggled for money, taxes go up, the last thing they will pay is the credit card, greg. >> that is fair. don't forget, even if we fall off the fiscal cliff, still have to go to the grocery store, still do your every day spending, which is increasingly going on cards. this is also a little more of a u.s. issue. take master card, for example, 60% of the revenues come from outside of the u.s. i t

kay kay kayla tausche joins us with that. >> today the hostess bankers have been contacted by more thanossible buyers. it's suspected only a few dozen will be credible and committed candidates. but for now it's a feeding frenzy to get in the game. financial responsers like the owners of pabst blue ribbon, regional bakeries. even individuals, major underdogs in the process are vying to be taken seriously. case in point of the widespread interest, one of the potential bidders declared his interest last week in a handwritten note filed with bankruptcy court. whatever works. i just hope that the bakers can recurse it. but we have twin tech entrepreneurs from florida who are putting together investors. as for what they're competing for, it will be a brand by brand fire sale. wonder bread has drawn some of the most interest early in the process. the unit holds in roughly $500 million a year. far more lucrative than twinkies who sees less 70 million bucks. if you can believe that. >> i do not. how many of us still eat twinkies. >> i don't eat twinkies. >> i'm eating more now that i've been cov

joining us, cnbc's kayla tausche, john carney. ew study finding high-frequency stragd hurting traditional largely retail investors taking away profits. another sign this is a threat to investors. kayla, should we be surprised that the pros are lunching once again? >> talked about this so much, tyler. what i found interesting about this study, it tried to quantify the advantage, saying in the future's market, high-frequency trade hearse tradeers had a $5 contract. i'm worried about the volatility overall. >> a sign of something nefarious going on or the stupid of retail investors try go into this game? >> it doesn't measure the benefit bus the looks at the cost. there is a lot more lick ghitd market, easier transaction cost for every other investors is lower, unless you have the cost versus its benefits, it is a one-sided study, don't know on net are investors hurt by that. >> let's move to washington, debates on the fiscal cliff continue, corporate america accelerating dividend payments to help investors avoid higher taxes next yea

the chief financial officer is speaking right now and kayla tausche is listening in to that conference call. >> city's cfo is just ending his prepared remarks right now at the goldman sachs financial services conference but he mentioned those layoffs right out of the gate. addressing the morning's announcement which he said is straight to the heart of citi's mission which is getting back to the basics of individual banking. among those 11,000 job cuts though, more than half will take place in the consumer banking business abroad. the bank will exit regions like pakistan and paraguay that haven't been profitable. 1,900 jobs will come from its institutional client's group. they'll start to reassess coverage of certain sectors and geographies in that group. it will close offices underutilized, revisit its branch strategy in metro areas including those in the u.s. this is a broad overhaul of strategy. we have some 350 of those layoffs, too, taking place in citi's so-called bad bank citi holdings. the cfo said the bank will move swiftly to sell those assets but they still face two problems

kayla tausche has more. >> investors see this as a positive. move for a new ceo who is just getting his sleeves rolled up. the cuts will span across nearly all of the company's divisions but biggest slice of the pie coming from global consumer banking cutting 6,200 jobs there. the cuts are broad. nearly 2,000 jobs cut from the institutional clients group including investment banking six times the layoffs reported to take place in the securities business earlier this month. jim cramer said earlier that it feels like citigroup has been cutting jobs forever but that's because the bank has downsized by a third since peak employment in 2007. most of that cutting took place after he took the reigns. it will have 261,000 jobs once these cuts are done. the 11,000 announced today is a big number but it represents just about 4% of citi's worldwide workforce. investors see it as a strong sign they will improve the bank's operations but he's preparing a bigger strategic plan for the bank. we've seen the chairman of the board play a very strong role in oper

kayla tausche is back with more. >> it's an interesting story. out of business sale, potential buyers are circling what they call a once in a lifetime opportunity, those iconic brands available relatively on the cheap. today is the deadline for those companies which range from snack food giants to supermarkets to private equity companies to submit initial bids or just expressions of interest in the various hostess brands. in all they have about $2.3 billion in sales. advisers are hoping to fetch half that in proceeds for the brands. conventional wisdom would tell you that the twinkie is the biggest sale. the highest priority for hostess is selling wonder bread, since consumer's bread choices are more prone to quick changes in taste and preference. wonder bread also has about $500 million in revenues which is actually nearly five times what twinkies sell in a year. i'm told some 160 parties have expressed interest so far, but only a few dozen are actually expected to bid. food companies like flours foods have taken a look, vendors like kroger and

kayla tausche back at headquarters. >>> november nonfarm payrolls up 146 beating streets estimates. liesman is here with an in-depth look at the numbers and maybe an explainer as to why sandy didn't have more effect this month. >> i wish i could answer that question, carl. you would have thought there were lots of expectations. very quickly i want to talk about the sentiment numbers. the reason why we had that big miss on sentiment is the bottom dropped out of expectations. the assessment of the current situation actually was pretty decent but in fact i think it ticked up. it stayed about the same at 89.9. expectations dropped pretty strongly down to 64 and that could have been two factors in there. the first factor could have been -- we'll get to jobs report in just a second. the first factor could have been the fiscal cliff situation and sandy as well. also, our all-america survey picking up the idea that there was some effect of the election where sentiment of republicans dropped very, very dramatically. let's talk about jobs report. 146. this was not affected by sandy despite bi

kayla tausche joins us. >> the person to watch everyone watching is looking at jez staly, he was chairman largely viewed as a swank song role that rivals have taken note of. there were discussions over the ceo at legg mason, the baltimore asset manager. the talks fell apart and staly was the top of the short list for the board and recruiters after being serious talks for the job before the financial crisis. i'm told the supreme court talks were part of staly being promoted to ceo in an investment bank where he was expected to succeed jamie dimon. dimon replacing staly with two younger colleague this is summer. he's largely viewed as a free agent he was a finalist for barclays ceo, they went with an insider fearing an exodus of managers within the bank and should americans run the british bank. first of all previous staley said he would maybe work at one of the banks internal arms but he has his sights set on a publicly traded company and with his record a lot of people think he can do that. legg maceson used to be close to a $10 billion market cap but it's now down by who%. ceo mark getti

kayla tausche has more. >> it's been a big year of musical chairs at jpmorgan, jeff staley was replacediven a chairman title many onlookers looked at it as a swan song. in the six months, two financial services companies sought him out as a potential ceo, most recently legg mason, which has seen funds under management shrink by 40% since the last time staley was considered in 2008. talks have dissolved in the last month, a spokesperson says legg hopes to name a chief expeditiously. legg follows barclays which ousted its ceo following this summer's lie bore scandal. the board was set to see staley as one of its top candidates albeit an american and it went to antony jenkins. definitely a guy to watch who could be on the move, jes staley. >> back to bob pisani at post nine, maybe u.s. markets are not the story. >> a very strange global stock market i mentioned earlier we have new highs all over the world if you're a global investor you ought to be happy about this. let me show you here we've got new highs in germany, france, switzerland, hong kong, thailand, india is at a new high, india,

. ♪ beautiful sight we're happy tonight ♪ >> we are still getting mileage out of kayla tausche's pieceies are aging you visually so that you'll start -- so that you'll start saving up for plastic surgery. i guess. anyway, they did andrew yesterday. then on kudlow last night we did a benjamin, was his name benjamin button? >> yeah, yeah, yeah. >> they showed me currently already aged and then they went back and showed 20 years ago on cnbc. but then they also, which was not nice, because you were worried about the lighting. look what they did -- here's know at 107. but they did -- -- >> i can't believe you guys let them do this to you. >> i'm kind of smiling at the beginning but by the end, see, if they start casting for -- just focus on that 107 -- >> like a zombie. >> if they start casting for walking dead. >> you think you got a shot? >> absolutely. look at that. now the reason that i even bring up walking dead is in the last week, i've seen a discovery on discovery tv channel a -- >> a real -- >> the serious look at, that they do things, if there's some airborne virus or something go