, greg fleming is much more experienced investment banker but mike cavanaugh is a solid guy.heryl: yours is kicked out. the kitty roof. adam: he breaks the news on twitter, we have been getting responses. adam: that was the name and morgan stanley. adam: we asked folks what it would take to keep this housing recovery as the market picked up. i got a response from philip rich edson who says jobs, full time job employment, thank you for responding. do corporations have a right to religious freedom? that is the battle playing out at the supreme court. we will take you there live, kathleen sebelius vs hobby lobby. >> seasonal softness isn't the bottom. our next guest on why he says it is the unconventional housing recovery that is troubling him. adam: tweet us that cheryl casone, what you think would jump-start housing. cheryl: home prices and new home sales dipping, winter weather and higher mortgage rates continuing to drag on the sector. tim route is joining me. we should let you know our twitter question of the day is the following. you have two more lackluster housing report

. >> it is clear that mike cavanaugh got the message. >> thank you for coming in.he founder of dm income advisors. >> coming up, the firm that aims to make finding your first new york city apartment fun. a little party with your department. >> later, chris cole. he is a skateboarding champion with the number of sponsorships under his belt. we will talk to him about turning a passion into a career. ♪ >> this is "taking stock." we are in for pimm fox on this tuesday. finding an apartment in manhattan can be a bit of a daunting it -- experience for anyone. imagine you just graduated and you need to settle in rather quickly. our next guest company wants to help you with that. designed to help recent college grads and it sets out to make the experience fun for you. great to have you back. >> it is great to be back almost three years now. >> talk to us about what happened and her mind is what you do. >> it is cool to be back. when we came on the set we were literally starting. we had filed ever worked a few months before we were on set. things happened so fast and it was

if you notice mike cavanaugh, the top guy at jpmorgan, david rubenstein getting a lot of wall streetcause all these private equity firms, blackstone, essentials, they are becoming wall street firms and they are becoming wall street firms without the massive amounts of dodd-frank regulation wall street firms face. they are not under dodd-frank considered systemically important institutions. they can lend, they can do proprietary trading. they can do lot of stuff the mainline banks and wall street firms cannot do but here is what they are worried about that over the next year or 18 months that these firms and we should put up some trading of the private equity firms because they are all publicly traded companies, black rock, blackstone, larry fink on the brain, blackstone, kkr, all publicly traded institutions. what they are worried about essentially is in the next year, they become like banks, that somehow -- they knew. the roach motel of dodd-frank starts his taking it home. we understand with these sources telling fox business that they are going out and the essentially lobbying con

cheryl: mike cavanaugh is mr.ix it, jamie dimon has leaned on him forever and i would bet that he is exhausted and happy to land at a place like carlisle where he is about to make gobs and buckets and mountains of cash and not have to deal with a lot of headaches. >> how about this? that story this morning, he wants to stop being a fireman, he wants to be -- cheryl: melissa: thank you so much. president obama now courting the ladies as part of his push for a minimum wage increase. a report from the white house is branding the pay hike and women's issue and claiming the proposed hike to $10.10 an hour will gender -- narrow the gender gap. we now have kennedy, the co-host of the independent and james freeman back with us as well. we did the math because this show is about money. turns out by raising pay to $10.10 it narrows the wage gap by $0.04. 4 sense makes perfect sense. is this a woman's issue? do you feel empowered? >> you could say anything is a women's issue, and is a reform could be a women's is because wom

possiblelosing a successor to jamie dimon, mike cavanaugh is leaving the firm for the carlyle group.ly to jamie dimon for two decades. toyota is buying back shares for the first time in five years. they will accept 3.5 billion dollars to buy back 60 million shares, including their profit increases in their cache files with half of the shares being repurchased by the end of june. that is your timetable. a $2 billion gamble for facebook investing in virtual reality. the newest acquisition is ocular , making these ski goggles, all right? the prototype with gamers chomping at the bit for when this thing is commercially viable. toious himself, he decided test out a version. check this out. i am wearing a virtual reality headset, flying into space. >> i can see the asteroids around me, firing at my enemies, these are the enemies that i am firing at. >> the big promise is that virtual reality will finally feel real. >> what if virtual reality were perfect? an experience of this fidelity, feeling like the matrix, like we were in the same space russian mark >> palmer lucky created the headset

mike cavanaugh, the co-chief executive officer of jp morgan's investment bank has been named co-president group. d here's the important part. cavanaugh had been mentioned as a possible eventual successor to ceo jim my dimon. for those who are trying to read the tea leaves this puts matt zames, the coo of the bank as the true heir apparent to jamie dimon. what this also means to carlyle is interesting. people have always said that carlyle, the founders still run that firm and they're always trying to build a bench. he's probably about as strong as you're going to get. >> we just had david rubenstein here. >> in terms of how much money you can make? >> better shout over. >> just multiple. exponentially more. >> i don't have cavanaugh's pay but zames was paid about $17 million back in 2012. >> carlyle, that's one deal. show up and you make that, don't you? if you punch a time clock. >> you show up on january 1st you make that. >>> other breaking news in the ongoing fight between carl icahn and ebay. ebay issuing a letter that will go out publicly in ten minutes. shareholders emphasizing the

mike cavanaugh will be joining the carlisle group this summer as co-president and co-coo.eup is because this was the guy who was tapped to be the successful to jamie dimon when dimon eventually was going to retire. cavanagh and dimon has been taking meetings to figure out the structure of jpmorgan in the coming years, should they break up, what the affects of higher capital levels would be to the firm. i spent most of last night on the phone with a bumplg of my sources both inside and outside jpmorgan who were talking about who now would be tapped to be the successor to jamie dimon. the most interesting thing to me was the rising star of a guy named gordon smith. he's the ceo of chase which is, of course, the consumer bank of jpmorgan chase. he joined jpmorgan in 2007 after spending about 25 years at american express. he was running auto finance but now he's in charge of mortgage bankers, call centers. and he has 170,000 employees in his unit. i'm told my insiders he has been incredibly impressive in the way he's run that business with a laser focus, cutting costs but also

i thought there was a chance he might one day, well, let's see -- >> mike cavanaugh. >> shocked. >> goingcarlisle as a co-president and was largely seen as somewhat of an heir apparent when dimon eventually exited the firm. >> i thought that. i look at that and say this is a good example, if that stock can power higher, it doesn't matter. people want to be in lower multiple stocks a lot of the lower multiple semiconductor stocks kind of held up well yesterday and the industrials. the industrials you could argue they could be hurt by russian sanctions, nobody seems to care so -- >> russia voted out of the g-8. >> see you later. >> and market's, like, what, we don't care right now. >> i was shocked. germany -- europe is up, germany does a huge amount of business with russia. they said let's put it aside. i don't like it either. one day people wake up and say wait a second. there's a new float of a chinese stimulus plan. i hesitate to say these things because these are central casting when you go down people start talking about a chinese stimulus, when you go down people start talking about

another name in banking is jpmorgan with mike cavanaugh leaving and we had a number of important news's bankamerica, put-back and citi, of course, missing and cavanaugh's decision to go to carlisle, a couple of days old but an important news in terms of leadership of that company. >> cavanaugh i thought was an inside track. >> and lot of it appears to be based, hey, it's not as much -- it's more difficult. >> were you going to say not as much fun? >> and i thought better of it. >> when i got to goldman, geez, i'm not having fun, my boss, was that the purpose? >> exactly. >> i gree it's not but you can make a lot more money at private equity and i suppose that's an important consideration for many people in the financial services business. hence, you might make that decision. >> blackberry one to watch. not a huge mover down about a quarter of a percent but it's taken to a sell. and i think earnings are coming the latter part of this week. tomorrow, i believe. >> it's more of a break-up name so i can understand why it's going down. i do believe that they raised a lot of cash. i don't h

the co-ceo mike have a nicely cavanaugh iske leaving the company after more than two decades. co-chief officer of carlyle group. cavanaugh was seen as a potential successor to diamond, who has told people he wants to remain ceo for another five years. that is, according to people with direct knowledge of the matter. how else would with no? -- how else would we know? >> it is another person that is in his inner circle that is leaving the company. but it makes a lot of sense. he will get a much bigger payday at the end of the day. >> and he doesn't have to wait another five years to sit around jamie dimon. he's 48. >> to me, the whole thing sounded like succession when i heard the initial story. to julie's point, it is probably not as much about a as it is about time. pay as itmuch about is time. jamie dimon will not go anywhere until he probably wants to go somewhere. unless jpmorgan takes a weird turn. >> and he is picking off left and right to be blue would succeed him. right? people who would succeed him, right? >> i read an internal memo and it was pretty nice. >> i'm sure

cavanaugh, thanks for weighing in. i appreciate it. >> thanks, alex. >>> this morning mike rogers talked about how at least two passengers have been able to board the plane. >> it's not common, but it is not unheard of either, that stolen passpords can be repurposed and used, mainly for the quality of the passports themselves. so given the right circumstances, and in this case clearly it worked, they were able to board and gain entry. they would be doctored up, individuals who would have the skill set to change those passports just enough that they could identify with the individual that was using it. so what they'll do now is they'll go back through the airport and make some determination through cameras and other means to try to identify the individuals and track that back. >> reasonablers emphasized we are still in the early stages of this investigation. >>> a bit later on, what we are learning about the americans on the flight. that is ahead in our next hour. >>> honoring a woodstock legend forever, and in our next hour, parachute versus plane. both crash and survive. ! smell , they're like music to your nose. ♪ your